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Item D
IL f County Administrator's Fiscal Year 2025 Recommended Budget Kevin Wilson, Acting County Administrator Tina Boan, DirEctor Office of Management & Budget July 16, 2024 Marathon Government Center Marathon, FL. FY2025 Budget Process • July 16th — Today's Special Budget Meeting, in Marathon, BOCC Certifies the Proposed Millage Rate to Property Appraiser; the rate that goes out on the tax bill (TRIM ) • September 4th — First Public Hearing Adoption of Tentative Budget and Millage Rate Key West at 5 :05pm • September 11th — Final Public Hearing Adoption of Final Budget & and Millage Rate Key Largo at 5 :05pm Z Fiscal Year 2025 Budget Summary FY2025 % of I • Revenue _ Proposed Total I - Ad Valorem Taxes I Budgeted Ad Valorem $154,171,223.4111=1.$154,171,223 21.5% Delinquent Taxes i Health Department $1,762,675 $37,000 0.0%! i Local Option,Use &Fuel Taxes L Total Ad Valorem $155,933,898 $103,025,000 14.4% i Licenses,Permits &Impact Fees $8,993,559 1.3%I Intergov.Rev./Grants,PILT, Shared Taxes $26,085,000, 3.6%I 1 Charges for Services $110,206,119 15.4% - i Fines &Forfeitures $2,137,500 0.3% 1Miscellaneous S4,055,100 0.6% lInterfund Transfers/Excess-Fees $52,687,096 , 7.4% 1Debt Proceeds .$10,000,000 1.4% 1Fund Bal Fwd/Less 5% $244 316 588 34.1%1 Total Sources '. 15 714 18 100.0% . FY2025 % of Expenditure Proposed Total B.O.C.C. Operating $229,224,524 32.0% Sheriff ' $88,058,851 12.3% .Clerk of the Courts -. $10,046,015 1.4% Property Appraiser - $6,688,369 0.9% Supervisor of Elections , , $2,947,589 0.4% Tax Collector-3.0%of BOCC.& MCSD Tax Levy (F.S. 192.091) . $10,619,223 1.5% Judicial, State Attorney,Public.Defender . $4,634,715 . 0.6% Capital Projects,including Debt Service . $173,145,022 24.2% -• Tourist Development Council - $116,315,397 16.3% Budget Transfers,Cash Balance &Reserves . . . • $74 034,480 10.3% 'Total Uses 1,7159 7149 185 .100 0% • 3 FY2025 Budget Increases Expenditure [ FY2024 Adopted FY2025 Proposed Change % BOCC Operating 218,805,333 229,224,524 10,419,191 4.8% Sheriff 84,037,381 88,058,851 4,021,470 4.8% 'Clerk ofthe Courts 9,059,815 10,046,015 986,200 10.9% Property Appraiser = 6,365,708 6,688,369 322,661 5.1% Supervisor of Elections 3,177,039 2,947,589 (229,450) -7.2% Tax Collector- 3.0%oofBOCC&MCSD Tax Levy(F.S. 192.091) 8,575,291 10,619,223 2,043,932 23.8% Judicial, State Attorney, Public Defender 5,298,139 4,634,715 (663,424) -12 5%' Capital Projects, including Debt Service 131,224,360 173,145,022 41,920,662 31.9% Tourist Development Council 125,642,929 116,315,397 (9,327,532) -7.4% Budgeted Transfers, Cash Balance&Reserves 75,125,309 74,034,480 (1,090,829). 1.5% Total Budget $ 667,311,304 715,714,185 $ 48,402,881 .73% B.O.C.C.Operating Change Capital Projects;including Debt Service Change Personnel&Operating Costs 2,355,820 Trauma Star Helicopter Purchase . 24,886,400 SAFER Employees-(24)Firefighter.FTEs 2,468,798 Twin Lakes SIR=Road Elevation 4,941,057 .t Solid Waste Collection&Disposal Contractual Increases 2,594,573 Airport Capital Projects Grant Match 7,410,000 Employee Services-Group Insurance Claims 3,000,000 Key West Airport Rental Car Facility 2,225,000 $ 10,419,191 Key West International Airport Concourse A 1,909,160 Constitutional Officers $ 41,371,617 Personnel&Operating Costs 5,462,727 Law Enforcement Trust Fund-Forfeiture Funds Revenue 1,018,662 $ 6,481,389 FTE ReductiOn • • ...._. -. ,, -. - ...,,..,. ... ,.n -_,a .<... r. - _. .. ...".-. ._:.,_. 2F.. ..._.c,- ,. _.... .. _.. M._ ,..._<. z.-_-- .. ....vz. rT. ,.. _...._.. - , --...... .._-„ _:.-.,:. �.,.,-.,. x:K. ;�_.� ; .s, ..,.-.. ., ,. :,�: :-: r ::' ,._ ,�.:_...ml.: , ..:.,.,. -_...3.. _'. r.z,::.. <a,v<._ ., , r;.. , :'... :.... ..:...,...u .. : -;-r. ...:>:- •:. ��.. ..ws-,.,...,';: <,.;-:.--, __."_�._.n,...:..•t �+;;:,-:......',. �.<.. .:. v - POSITtON,lD#, _.FUND DEPARTM N �, _ . . . .,� _.�. _,: _ .✓.� ,:_ . .. .. _ w _ __ _ _ ._ _ . E. T__ _ _ .< _ ,,x ._ .. _>� F. ._ PC?S!Tl,QN TlTLE,.- . _�_ �... _ _LQADED SALARY GMBLGO15 180 • BUILDING INSPECTOR II/PLANS EXAMINER BUILDING • 147,596.00 GMBLGO46 180 BUILDING • PLANS EXAMINER • 155,912.00 • GMBLGO25 180 • BUILDING CUSTOMER SERVICE REPRESENTATIVE-II I 67,482.00 GMBLGO89 180 BUILDING CUSTOMER SERVICE REPRESENTATIVE II •: • 88,021.00 GMCE022 148 CODE COMPLIANCE • • SENIOR INSPECTOR CODE COMPLIANCE • • • • 115,850.00 GMCE030 148 CODE COMPLIANCE • INSPECTOR CODE COMPLIANCE 99,206.00 GMCE031 148 CODE COMPLIANCE • INSPECTOR CODE COMPLIANCE • . • • ,101,414.00 GMENV020 • 160 PLANNING & ENVIRONMENTAL RESOURCES LAND STEWARD ASSISTANT . .• 78,827.00 . . GMENVO21 160 PLANNING & ENVIRONMENTAL RESOURCES. LAND STEWARD ASSISTANT . 9.5,353.00 • GMPLN025. 148 PLANNING.& ENVIRONMENTAL RESOURCES SENIOR PLANNING POLICY ADVISOR • . 141,194.00 GMENV007 148 •PLANNING & ENVIRONMENTAL RESOURCES. - SENIOR ENVIRONMENTAL PLANNER. • 93,885.00 . BFGRM004 001 BUDGET& FINANCE COORDINATOR . • 125,745.00 • .. a c M �•. - ... .',:.....,.. ,.. .-..,. .d n.. Vie. ,..n .. , z,.. .� ::�-r .::. ..: a. 5 FY2025 Total Appropriations Public ti i BOCC Sheriff Clerk of Tax Collector Property Supervisor of Judicial $229.2M $ 88.1M Courts $ 10 Appraiser Elections 2.9M $ 10.1M .6M $ 6.7M $2.9M Operating Departments BOCC Operating $ 229 2M 32.0% $352.2M onstitutional Officers $ 123 OM 17.2% State Attorney Capital Projects w/Debt Svc.. $ 173.1M 24.2% $ 1M Tourist Development Council $ 116.3M 16.3% Public Budget Transfers, Reserves & $ 74.OM 10.3% Defender Cash Balance $ 656K Total $ 715.7M 100% 6 ,,, , FY2Operating Revenues Ad License $ $ Sales Tax State Shared Valorem and Fines Misc. $8.5M, 2.41% Revenues And Forfeits Revenues (Tourist Impact Tax($7.5M), Taxes Permits $22.3M, 6.34/ $2.1M, 0.61% $3.9M, Local Communications Tax � $154.3 M, $6.2 M (%Cent Sales Tax($16M), ($500K), Local Business Tax / (Code Fees($1.4M), o State Sharing Proceeds43.78% 1.11/0($500K)) 1.77% Mitigation Penalties($4M), PILT($1.42M),SHIP (Misc. Revenue $ Program ($475K), Racing (Ad Valorem (guilding Permits ($50j), Clerk Fines ($154.2M), 80K, Penalties& ($1.9M), Rents Tax($223.2K), State ($5.5M),Solid other($5K)) ($350K), Interest Charges for License ($176.8K), Public Delinquent Ad Waste Franchise ($1:6M Services Safety($35K)) Valorem ($37K)) Fees&Spec � Assessments $110.2M, 31.29% c$719K» Interfund (Solid Waste Fees($27.8M), Airport Fees($17M),Trauma Star Tran$fer$ ($10.1M); City Policing($5.7M), Planning Fees($3.3M),Sheriff _ - $5.OM, Inmate Housing($250K), Card Sound Tolls($2.5M), Internal 1.41% Services($39.5M),Ambulance _ ($1M),Other($2.8M)) Fund Excess Fees. ' Balance $7.1M, $32.6M, 2.01% 9.27% $352.2M 1 • • . FY2025 Ad Va orem Distribution 1,340,168 1% State Attorney,Public Defender Sheriff 2,450,496 . 2% Judicial Court Administrator 77,943,336 Fund 101 2,947,589 : , 2% Supervisor of Elections 6,061,191 Fund 149 6,688,369 4%: Property Appraiser 84,004,527 10,617,075 7% Tax Collector 10,046,015 6% Clerk of Court 983,717 1% State Mandated Substance Abuse Mental Health/Baker Act Services Public 84,004,527 54% Sheriff Law Enforcement Safety: 4,941,686 3% Monroe County Detention Centers/DJJ/Extraditions/Jail Program $110.3 M 380,951 0% Fire Rescue Coordinator&Fire Marshall 70.8% 920,517 1% Medical Examimer 1,762,675 1% MC Health Department 17,336,458 ' 11% Fire&Ambulance 144,420,243 93% Constitutional Officers/Public Safety 3,441,454 2% Parks&Beaches&Recreation 3,149,578 2% Middle Keys Health Care 2,203,226 1% Human Services Advisory Board 1,900,000 1% Tax Increment Financing District City of Key West (Amount determined after Final Adoption) 819,397 1% Balance of BOCC Operating 155,933,898 100% Countywide Taxable Value History (2000) FY01 - $9,940,521,541 (2012) FY13 - $18,716,037,236 (2001) FY02 - $11,285,509,899 (2013) FY14 - $19,116,269,813 (2002) FY03 - $12,661,928,120 (2014) FY15 - $20,224,006,941 (2003) FY04 - $14,664,046,675 (2015) FY16 - $21,406,157,600 (2004) FY05 - $17,324,108,418 (2016) FY17 - $23,013,321,300 (2005) FY06 - $21,681,414,632 (2017) FY18 - $24,925,686,939 (2006) FY07 - $26,402,556,752 (2018) FY19 - $26,439,157,832 (2007) FY08 - $28,420,913,793 (2019) FY20 - $28,378,673,438 (2008) FY09 - $26,263,542,655 (2020) FY21 - $30,017,184,425 (2009) FY10 - $22,337,625,453 (2021) FY22 - $31,651,286,299 (2010) FY11 - $19,553,885,436 (2022) FY23 - $36,808,540,247 (2011) FY12 - $18,542,927,567 (2023) FY24 - $41,750,245,941 (2024) FY25 - $46,162,950,134 9 2024 Countywide Taxable Values Based on 2024 July 1st Certification Tax Roll Property Type Average Taxable % of Taxable Total Taxable Value Value Value Homesteaded (Residential) $578,258 $9,213,956,981 20.22% Non-Homesteaded (Residential) $962,929 $26,789,652,000 58.77% Commercial $1,489,857 $7,936,469,968 17.41% Vacant Land $426,310 $1,640,394,297 3.60% Total $45,580,473,246 100% *Current gross taxable value for operating purposes is $46.2B. Source: Monroe County Property Appraiser This consists of$45.4B real property+ $802.8M personal property 10 Save Our Homes Countywide Millage As provided in Section 193.155(1), F.S., beginning in 1995, or the year after the property receives homestead exemption,an annual increase in assessment shall not exceed the lower of the following: a.Three percent of the assessed value of the property for the prior year;or b.The percentage change in the Consumer Price Index(CPI)for all urban consumers. Year CPI Change Cap Fv24 FY25 Homesteaded 40%o o i 202 . , . Cap 3.0% Save our Homes 4 3 ;300% 2023 6.50% 3.00% 534,735.83 550,777.90 16,042.07 2022 7.00% 3.00% (50,000.00) (50,000.00) 484,735.83 500,777.90 Taxable Value 2021 1.40% 1.40% Maximum Increase Maximum Increase 2020 2.30% 2.30% 2.7191 2.6929 Per Year Per month 2019 1.90% 1.90% 1,318.05 1,348.54 30.50 C2-75D 2018 2.10% 2.10% F• Y24 FY25 ! Non-Homesteaded 2017 2.10% 2.10% Cap 10% 2016 0.70% 0.70% 838,992.00 922,891.20 : ..___. 83,899.20 2015 080°! 0.80% 838,992.00 922,891.20 Taxable Value 2014 1.50% 1.50% Maximum Increase Maximum Increase 2013 1.70% 1.70% 2.7191 2.6929 Per Year Per month 2012 3.00% 3.00% 2,281.30 2,485.25 203.95 17.00 2011 1.50% 1.50% FY24 FY25 Commercial 2010 2.70% 2.70% Cap 10% 1,376,548.80 1,514,203.68 , 137,654.88 2009 0.10% 0.10% 2.7191 2.6929 Max. Inc. PerY-.r Max. Inc. Permo 3,742.97 4,077.60 334.63 • 27.89 • 11 FloridaComparison I • • FY25 Countywide Services — Per 100 000 of Value iv\ :an FY24.Millage Rate:4.5000 evy:. 450.00 : FY24 Millage Rate:3.7623r---------;,--------- T, r---14-- FY24 Tax L �.(Per$100,000 of Taxable Value) i, ..... FY24 Tax Levy: $376 23 ni °IP (Per$100,0000fTaxableValue) ' , ki,,...._.... ,,,,, L.,,,.,iimi ,17-- ,.1 . . ,—, — ,,,s ; i ,_,„ ,-xmu,um...,-.J.A....AM.i.--- i 1 011 I:il I I I 10 r _ ______ ., _____„.„..) ,..^.. . FY24 Millage Rate. 5.5492 FY24 Millage.Rate: 3.2043 Bro'w.ard Bo1Iri! 24.Tax:Levy:.$554.92 FY24 Tax Levy: $320.43 nio . 4 4--- -7- ; ' TaxableValue) (Per$100,000of Taxable Value) a (Per$100,0000f i - ‘ ...-,,i-- -—,----1 1)11 'j:7-'111° ; j L. ;� Dad.e ,„", . _ miopme,P' Psi if 0-1-0 " 1, ,',' ------4 era 14,-aili FY24 Millage Rate:4.5740 JJ/ Levy: $457.40 . _ FY24 Tax FY2024 Millage Rate: 2.719.1 __? - r.,yl\ t ,,a .): (Per$100,000.of Taxable Value) FY2024 Adopted Tax Levy:$271.91 M ." -, 111:11:II t, n in n FY2025 Proposed Millage Rate: 2.6929 r Li II 11, FY2025 Proposed Tax Levy: $269.29 , krill u ,4(Per 100 000 of Taxable Value 0a v� r FY2025 Millage Reduced 1.0%from prior year 1 Source: Florida Department of Revenue: Comparison of Property Taxes Levied 12 . . Countywide vs . Ad Valorem Tax Levy $46.2 $41.8 Billions f. $36 $30.0 Al 26.3 26.4 -II 11 - $24.9 ___ -Al,.......,.., .... A :,. .. $19.6 _ ._- ii- -:$202 $2L4 li ..„mom 18.5 $19.1 . _-; ^i - - „I _____ _ ...... ._1 I. _ 9I Ii - :j r. $953 & L $90$84.9 .8 i 77.1 $79.6 $80.3 $80.9Millions $85.3 $82.2 $78.1 $75.3 $ ® Taxable Value 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Change over -7.6% -14.9% -12.5% -5.2% 0.9% 2.1% 5.8% 5.8% 7.6% 8.2% 6.5% 7.2% 5.6% 5.4% ° Previous Year 16.5% 13.4% 10.6/ ® ® ® ® ii 7..AJ ® . ® ® ® b. L'i U 1 LI FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Above/-below roll-back 2.67 2.75 -0.03 -0.33 3.84 5.86 3.14 3.75 5.47 9.98 17.55 8.69 +/(-)prior year tax levy 1,848,033 2,481,692 747,699 574,673 4,027,266 5,904,725 4,505,206 5,197,449 6,551,636 11,859,638 22,329,925 14,653,446 FY20 included new Middle Keys Health Care MSTU ($2.Million) 13 Tourist Tax and S Taxes in Monroe ount Monroe County overnight visitors pay 12.5% 7.5% Sales Tax Paid for by hotel Paid for by Everyone 5% Lodging accommodations and vacation rental guests 75% 4% Tourist 1% Tourist Development Tax Impact Tax Sales Tax 6% State Sales 50% goes to the Tax General Fund to assist The Monroe with increased services MC School Board County Tourist required because of 0.5% Capital Outlay Development Tourism Tax Council 50% goes to the MC MC BOCC 1% Land Authority Discretionary Infrastructure Sales Surtax 14 • Tourist Impact Tax Revenue General Fund Revenue One cent tax split is 50%for Monroe County and 50%for Land Authority. Below is the Monroe County portion. YTD +/- % 2019 2020 2021 2022 2023 2024 Prior Year Change October 267,308.81 289,718.95 286,530.52 489,797.32 433,509.71 422,989.74 (10,519.97) -2.4% November 338,484.44 361,14678 303,412.77 604,806.20 543,420.88 546,895.32 3,474.44 0.6% December 446,468.12 494,616.29 509,970.47 833,153.69 724,642.31 723,130.58 (1,511.73) -0.2% January 486,395.98 549,995.86 504,556.95 835,816.85 784,198.87 833,228.50 49,029.63 6.3% February 555,930.40 630,405.84 655,939.67 976,501.71 879,015.96 950,350.42 71,334.46 8.1% March 673,618.77 359,970.81 893,748.13 1,112,237.56 991,408.97 1,046,195.07 54,786.10 5.5% April 506,116.44 46,313.88 780,422.75 882,857.31 785,315.47 721,820.88 (63,494.59) -8.1% May 398,951.99 48,037.17 742,767.89 710,586.95 588,440.41 June 400,398.33 310,453.89 718,892.35. 645,430.62 577,505.75 July 430,549.93 377,225.82 774,975.44 726,803.20 635,569.96 August 303,245.90 294,061.88 506,215.06 483,322.93 418,417.19 September 173,818.32 . 250,015.67 388,337.02 334,374.57 323,413.02 Total 4,981,287.43 4,011,962.84 7,065,769.02 8,635,688.91 7,684,858.50 5,244,610.51 inc/dec prior yr. 21.6% -19.5% 76.1% 22.2% 11.0% FY2025 Proposed Budget 7,500,000.00 FY2024 Adopted Budget 7,750,000.00 FY2024 OMB Estimate , i 7,660,789.52 2 ent a es Tax evenue y C R General Fund + Plan, Code, Fire Marshall Fund + Parks & Recreation Fund Revenues ,t n� [Alga A 1. , `,' . 9 @ s Tee FY2025 Proposed allocation is split 71%to the,General Fund(Fund 001),8%to Uninc Svc Dist Parks&Rec(Fund 147),&21%to the Plan,Code, Fire Marshall (Fund 148) YTD +/- % 2019 2020 2021 _ 2022 2023 2024 Prior Year Change October 723,841.23 672,089.77 820,695.09 911,111.84 971,301.01 893,161.60 (78,139.41) -8.0% November 911,971.28 854,401.86 875,011.83 1,014,880.80 1,095,729.38 1,083,211.46 (12,517.92) -1.1% December 961,349.25 960,368.60 880,562.31 1,501,877.76 1,286,169.13 1,229,730.13 (56,439.00) -4.4% January 1,081,154.98 1,187,860.69 1,153,129.03 1,708,370.33 1,540,860.94 1,471,490.12 (69,370.82) -4.5% February 1,087,973.08 1,183,82 2.34 1,154,308.90 1,567,061.05 1,542,067.75 1,512,638.69 (29,429.06) -1.9% March 1,116,403.27 1,204,939.68 1,301,034.74 1,624,857.64 1,592,876.73 1,620,717.76 27,841.03 1.7% A p ri I 1,362,799.34 794,765.36 1,646,624.14 1,909,525.84 1,856,692.63 1,856,712.08 19.45 0.0% May 1,170,912.61 467,888.85 1,523,850.96 1,676,469.52 1,567,553.91 1,464,238.11 :(103,315.80) -6.6% June 1,053,066.48 451,351.79 1,478,998.59 1,481,631.47 1,331,384.49 July 1,036,605.08 912,384.56 1,479,481.06 1,414,447.43 1,351,046.18 August 1,060,250.10. . 943,599.47 1,503,053.03 1,503,723.98 . 1,401,559.13 September 932,077.26 885,691.84. 1,265,089.50 1,386,566.28 1,171,821.66 Total 001+148+147 12,498,403.96 10,519,164.81 15,081,839.18 17,700,523.94 16,709,062.94 11,131,899.95 inc/dec prior yr 13.2% -15.8% 43.4% 17.4% -5.6% FY2024 Adopted Budget = FY2025 Proposed Fund.001 57.8% ` .9,564,307.00 Fund 001-71% 11,360,000.00 Fund 147.-.10.0% 1,655,533.00 Fund 147-8% 1,280,000.00 Fund 148-32.2% 5,335,494.00 Fund 148--21% 3,360,000.00 Total-100% 16,555,334.00 Total-100% 16,000,000.00 FY2024 OMB Estimate . All Funds 100% : 16,149,858.94 16 , . COLA 8, M . ..Li H • t Budget Fiscal Non-Union BOCC Employees Teamsters Firefighters-Non Firefighters- CPI* Year Bargaining Unit Bargaining Unit FY15 Budget 0%- 5% 0%- 5% No Change No Change 1.5 Performance-based/Merit Performance-based/Merit (no COLA-average 3%) (no COLA-average 3%) FY16 Budget 2% 2% 2% 2% 0.8 Performance-based/Merit Performance-based/Merit (0.8%COLA,1.2% (0.8%COLA,1.2% (0.8%COLA,1.2%Performance) (0.8%COLA,1.2%Performance) Performance) Performance) FY17 Budget 4% 4% 4% 4% 0.7 Performance-based/Merit Performance-based/Merit (0.7%COLA, (0.7%COLA, (0.7%COLA,3.3%Performance) (0.7%COLA,3.3%Performance) 3.3%Performance) 3.3%Performance) FY18 Budget 4% 4% 4% (2.1%COLA,1.9% 4% 2.1 Performance-based/Merit Performance-based/Merit Performance) (2.1%COLA,1.9% (2.1%COLA,1.9%Performance) (2.1%COLA,1.9%Performance) Performance) FY19 Budget 2.1% COLA 2.1% COLA 2.1% COLA 2.1% COLA 2.1 (Hurricane IRMA) No Performance-based/Merit No Performance-based/Merit No Performance- No Performance- based/Merit based/Merit FY20 Budget 4% 4% 4% 4% 1.9 Reimplement Performance-based/Merit Reimplement Performance-based/Merit Salary Adjustment Salary Adjustment (1.9%COLA,2.1%Performance) (1.9%COLA,2.1%Performance) FY21 Budget No COLA/Merit No COLA/Merit No COLA/Merit No COLA/Merit 2.3 (State COLA 3%for County funded positions- Judicial,Tax Collector and Property Appraiser) FY22 Budget 3.7% COLA& 1.3% Merit 3.7% COLA& 1.3% Merit 5% 7.86% 1.4 (COLA 2.3%&1.4%,Performance-based Merit) (Performance-based/Merit) Salary Adjustment Salary Adjustment FY23 Budget 7% COLA 7% COLA 7% COLA 6.33% Negotiated 7 2% Merit 2% Merit 2% Merit Union Contract FY24 Budget 5% COLA 5% COLA 5% COLA 6.5% Negotiated 6.5 2% Merit 2% Merit 2% Merit Union Contract FY25 Budget 3.4% COLA 3.4% COLA 3.4% COLA In Negotiations 3.4 1.6% Merit 1.6% Merit 1.6% Merit *CPI(Unadjusted ending Dec of prior budget year) 17 FY2025 Salary Discussion BOCC 3.4% COLA + 1.6% Merit = 5.0% $2,608,549 BOCC Total $2,608,549 Total Ad Valorem: $1,419,679 Total Non Ad Valorem: $1,188,870 Constitutional Officers Property Appraiser - 5.0% COLA $183,802 Sheriff - 7.0% COLA (Union) & 5.0% COLA (non-Union) $1,940,710 SupervisorofElections - 2.0% COLA & 3.0% Merit $84,627 Clerk of Courts - 5.0% COLA $385,500 Total $2,594,639 18 General Fund , Fund Balance General Fund Operating - Fund Balance FY2023 Audited FY2024 Projected FY2025 Projected Ending Fund Balance Ending Fund Balance Ending Fund Balance 6,973,121 1 Month Operating Capital 44,259,515 41,474,491 44,751,546 4.98 onths of Operating Reserves and $10,000,000 Hurricane Disaster Reserves at 09/30/2025 Operating Capital 4 Months 5 Months 6 Months Proposed FY2025 Operating Budget 83,677,450 27,892,483 34,865,604 41,838,725 Hurricane/Disaster Reserve 10,000,000 10,000,000 10,000,000 Minimum Fund Balance 37,892,483 44,865,604 51,838,725 In FY2023,the General Fund transferred$10,000,000 to the Marathon Airport Fund(Fund 403)to temporarily fund the construction of the new EOC building. The construction is complete and the Marathon Airport is awaiting Grant reimbursement. Once the reimbursement is received,the$10,000,000 will be returned to the General Fund.All funds are expected to be returned by 09/30/2025. FY2025 Projected ending fund balance assumes the full reimbursement of$10,000,000 used for EOC construction.The cash will likely be utilized to fund other construction projects while the county waits for grant reimbursement. 19 Fiscal Year 2024 Capital Plan Discussion . r • Revenue Estimates One Cent Infrastructure Surtax Revenue YTD +/- 2019 2020 2021 2022 2023 2024 Prior Year Change October 1,281,785.62 1,204,253.88 1,428,601.32 1,799,761.76 1,757,881.35 1,687,652.13 (70,229.22) -4.0% November 1,626,938.48 1,522,348.95 1,551,003.56 2,130,915.98 2,012,834.66 1,970,403.75 (42,430.91) -2.1% December 1,611,060.13 1,739,270.09 1,540,198.81 2,350,468.45 2,298,683.14 2,252,685.90 (45,997.24) -2.0% 1st Qtr 260,394.85 234,701.65 301,636.47 487,313.32 548,223.97 561,366.51 13,142.54 2.4% January 1,951,622.38 2,130,901.67 2,057,064.53 3,145,543.84 2,844,626.64 2,718,875.53 (125,751.11) -4.4% February 1,992,553.52 2,190,106.83 2,080,400.49 2,882,482.89 2,866,421.45 2,820,379.47 (46,041.98) -1.6% March 2,146,758.69 2,212,710.82 2,359,499.67 3,074,218.44 3,030,464.52 3,034,564.36 4,099.84 0.1% 2nd Qtr 246,493.55 266,011.41 327,339.55 553,046.67 594,192.83 636,481.79 42,288.96 7.1% April 2,475,912.39 1,435,376.89 3,000,536.41 3,497,202.13 3,310,766.38 3,441,713.05 130,946.67 4.0% May 2,104,262.85 686,095.70 2,802,716.34 3,078,115.70 2,865,229.47 2,709,222.15 (156,007.32) -5.4% June 1,909,549.64 826,533.26 2,685,427.17. 2,692,340.80 2,422,645.00 3rd Qtr 225,020.83 247,795.83 316,968.00 492,339.08 527,030.12 July 1,890,098.70 1,600,691.45 2,703,748.99 2,574,277.68 2,464,053.52 August 1,947,982.32 1,695,432.56 2,774,984.53 2,750,520.33 2,566,040.61 September 1,691,441.52. 1,603,263.06 2,307,297.99 2,341,541.20. 2,122,908.76 4th Qtr 221,767.58 267,675.15 376,474.93 508,701.44 497,349.21 • Total 23,583,643.05 - 19,863,169.20 28,613,898.76 34,358,789.71 32,729,351.63 21,833,344.64 inc/dec prior yr 13.4% 15.8% 44.1% 20.1% -4.7% FY2025 Proposed Budget 31,500,000 FY2024 Adopted Budget 32,119,391 FY2024 OMB c Estimate , 31,903,371 21 Estimates Revenue f.T ( w�v:sx z rU nark ram- 2w"lfi�,1" .r, :f� j* ,ii ,� , , y � ��, &tfnfrastrukcture Sa�lesi.Su:rrttax� $- t.0 ,,'°ra • State Revenue Estimates for Fiscal Year Ending September 30, 2024 Year Amount %Change 1%Tax Rate- Default Formula 1990 $ 6,527,762 Local Government 1991 $ 7,763,175 18.9% Distribution Percentage Estimated Distribution 1992 $ 8,546,742 10.1% MONROE BOCC 60.345618 33,598,584 1993 $ 10,027,642 17.3% I sla mo ra da 6.371477 3,547,442 1994 $ 9,953,100 -0.7% Ke Colon Beach 0.707066 393 672 Y Y , 1995 $ 10,746,262 8.0% Ke West 23.691520 13 190 709 1996 $ 11,521,699 7.2% Y , 1997 $ 12,009,003 4.2% Layton 0.187499 104,394 1998 $ 13,217,392 10.1% Marathon 8.696820 4,842,122 1999 $ 12,996,907 -1.7% Countywide Total 100.000000 55,676,924 2000 $ 12,387,681 -4.7% 2001 $ 12,719,997 2.7% 2002 $ 12,645,370 -0.6% One Cent Infrastructure Sales.Surtax History 2003 $ 12,884,890 1.9% 2004 $ 15,365,641 19.3% $40,000,000 2005 $ 14,875,923 -3.2% $35,000,000 2006 $ 15,201,005 2.2/0 $30,000,000 - = 2007 $ 15,200,286 0.0% $25,000,000 2008 $ 15,147,593 -0.3% $20,000,000 2009 $ 13,702,434 -9.5% $15,000,000 2010 $ 14,085,030 2.8% $10,000,000 2011 $ 15,374,998 9.2% $5,000,000 2012 $ 16,318,450 6.1% $_ 2013 $ 17,172,359 5.2% 0 N Cr W 00 0 N Tr- co 00 0 N Cr .D 00 0 N E 01 01 01 01 01 0 0 0 0 0 r-I. e-I -I ,I. ,-I N N , 0 01 01 01 01 0 0 0 0 0 0 0 0 0 0 0 0 VI 2014 $ 18,653,970 8.6% e- I-I e-I e-I e-I N N N N N N N N N N N N W 2015 $ 20,161,451 8.1% N 0 2016 $ 20,817,676 3.3% N 2017 $ 21,510,929 3.3% One Cent Infrastructure 2024 2025 2026 2027 2028 2029 2018 $ 20,805,323 -3.3% Fund 304 Estimate Estimate Estimate Estimate Estimate Estimate 2019 $ 23,583,643 13.4% Beginning Fund Balance 91,154,846 70,433,283 14,313,283 6,772,199 6,258,579 11,118,842 2020 $ 19,863,169 -15.8% Revenue 39,359,220 35,594,387 34,031,155 34,031,155 34,031,155 33,973,996 2021 $ 28,613,899 44.1% Expense (60,080,783) (91,714,387) (41,572,239) (34,544,775) (29,170,892) (27,444,938) r .�r ! ...'4 f -.. �,,03-+_a rtrt W , ,. S 1A4.�:-.....4.., ..-. s r, .. �.::,Sv'.., - N ,. Ii:...t�,,�O r..':. r , - r.. 3:t._ .. y ,R e .. $... .t:v.."..f^„` j-ZS8 a'.. i :ff.'_..� -_: .J :+ r -.. x s$"+ .: - m"....y ..:Y` -..,.'! �..: -na /� .,f_ ..... - :� ...t:�:.:..... !.-'€+1iNEy �4 .� ,. ,:• ifn'.... .L.�.::;i_st ated�End.n. Fund�B,at ance ,,7.0 433 283 �--�,,,.14 3.13 283,, .,.�6,7EI2199,.. a=�. 579 11.118 842 172 22 . �_ _ . � _ �� . � rr_-, s 647 900/ w.��»�.�,�a�.__:w.m�r��"_.>.:_.,,.,,J,...-.,....�.�-�..*� r�-, .»,.�,.--+.," _..�-!_,cr a. ,:, l 1 :,_ 1. 1 I / ) - ,& :+/ , ., ,. .....�. _src;..„��.,.v»�._z,.>sat . x_+.,.... _,,.�+s•.u_.-o-�z3:te.c �.��=;t,., ....a�,i �.:::o._ ,"�n. -.. _....._ .��.:.a��-�4.?.i ,�-�h��. .:,.rr:_/."es:_..;.;w'r.� _.--x,, 2023 $ 32,729,351 _4.7% Fiscal Year 2022 had the highest annual one cent infrastructure surtax revenue collected at$34.3 million.Fiscal Year 2023 saw a year-over-year decline with total revenue for the year reaching$32.7 million.As of January 2024,the state is estimating FY2024 revenue to be$33.6 million. 2024 Estm $ 31,903,371 -2.5% However,Fiscal Year 2024 monthly revenue has consistently fallen short of the previous year's receipts. estimating OMB is Therefore, that this trend 2025 Estm $ 31,500,000 -1.3% will continue and that revenue for FY2024 will be approximately$31.9 million.Actual revenue will change the ending fund balance estimate. 22 t , • Five-Year CIP - Capital Projects - Summary Project Name FY2025 FY2026 FY2027 FY2028 FY2029 Physical Environment Solid Waste Impact Fee Projects(F_133) 137,615 Land Acquisition 1,005,074 Big Coppitt Key Wastewater(fmr F_310) 51,680 51,680 51,680 51,680 51,680 Duck Key Wastewater(fmr F_311) 31,000 31,000 31,000 31,000 Cudjoe Key Wastewater(fmr F_312) 150,000 150,000 150,000 150,000 150,000 Boca Chica Shore Side Facility 100,000 Total Physical Environment 1,475,369 232,680 232,680 232,680 201,680 General Government Ocean Reef ILA/Ambulance 361,700 497,100 Jefferson Browne/Jackson Square 3,072,701 2,700,000 2,200,000 Gato Building Repairs 902,620 HMGP Wind Retrofit 418,652 1,551,136 HMGP Generators 212,500 1,795,163 Total General,Government 1,895,472 3,346,299 3-.569 801 :2,700,000, : 2,200,000 Culture&Recreation Higgs Beach(Atlantic Street relocation) 220,000 Rowell's Marina 100,000 Bernstein Park Renovations 520,050 Parks&Recreation Impact Fee Projects(F_131) 647,270 Total Culture&Recreation 1,487,320 - - Public Safety Key Largo Hydrants 150,000 150,000 Fire&Ambulance Replacement 1,304,785 Trauma Star Helicopter Replacement 38,193,200 MCSO Detention Center Spalling Repair 310,000 Sugarloaf Fire Station 6,479,010 EMS Impact Fee Projects(F_135) 184,490 r Total Public Safety 46,621,485. 150,000 - - 23 Five-Year CIP —. Capital Projects - Summary Project Name FY2025 FY2026 FY2027 FY2028 FY2029 Transportation Key Largo III 242,855 Seaview Drive Bridge Replacement 1,100,000 Twin Lakes 6,941,057 3,383,339 Harbor Drive Bridge Replacement 1,040,976 No Name Key Bridge Repair 403,340 400,000 4,400,000 2,963,950 Sugarloaf Bridge Replacement 3,480,191 1,160,064 Stillwright Point 1,138,779 Flagler Ave SLR(match for design) 625,000 574,964 Toms Harbor Channel Bridge 943,434 Crane Blvd Shared Use Path 1,150,000 914,247 Key Deer. Blvd North of Watson Road Repair 400,000 437,539 1,774,351 Conch Key Roads SLR 200,000 3,474,250 5,419,776 Ocean Bay Drive Embankment Repair. 220,000 1,300,000 Key West International Airport Concourse A(F_405) 39,402,000 Key West Airport Capital Projects Grant Match (F_404) 11,000,000 Key West Airport Rental Car Facility(F_404) 2,225,000 Marathon Airport Capital ProJects Grant Match (F_403) 1,900,000 Key West Airport PFC Funded Grant Match (F_406) 5,000,000 Roads&Bridges(F_102) 9,674,640 8,142,772 8,142,772 8,142,772 8,142,772 Roadway Impact Fee Projects(F_130) 598,515 Card Sound Road Bridge Replacement(F_401) 1,447,800 Tubby`s Creek Bridge (F_401) 2,863,517 Mosquito Creek Bridge (F_401) 2,507,065 Total Transportation 89,470,638 19,896,395 18,196,963 13,692,772 12,020,969 Economic Environment Southcliff Estates 2,303,000 1,750,000 1,750,000 1,750,000 2,350,000 2,303,000 1,750,000 1,750,000 1,750,000 2,350,000 24 r a Five-Year CIP — Capital Projects - Summary Project Name FY2025 FY2026 FY2027 FY2028 FY2029 Administrative&Miscellaneous Engineering, Legal,and Admin Costs 3,398,338 3,299,918 3,299,918 3,299,918 3,299,918 Finance Miscellaneous 2,921,950 500,000 500,000 500,000 500,000 Old 7 Mile Bridge 562,655 562,655 562,655 562,655 562,655 Total Administrative&Misc llaneous 6,882,943 . 4,362573 4,362,573 4,362,573 4,362,573 Debt Service .. Debt Service SRF Big Coppitt Wastewater 682,000 682,000 682,000 682,000 682,000 Debt Service SRF Cudjoe Reg.Wastewater 9,379,482 9,379,482 9,379,482 9,379,482 9,379,482 Debt Service 2016 Revenue Bond 87609 5,403,042 5,399,739 Trauma Star Helicopters Debt Service 4,504,225 4,505,525 4,503,730 4,503,839 4,505,688 Key Largo ILA 87608 2,125,000 125,000 125,000 125,000 Clerk ERP Loan 915,046 Total Debt Service 23,008,795 -20,091,746 �14,690,212 14,690,321 14,567170 Total Capital&Debt Service $ 173,145,022 $ 49,829,693 $ 42,802,229 $ 37,428,346 $ 35,702,392 There will be a significant year-over-year reduction to the total capital budget for FY2026 resulting primarily from the completion of the Key West Airport Concourse A project($39M)and the purchase of the (3)Trauma Star Air Ambulance Helicopters($38M). 25 Grant Funded Capital Projects Project Name Project Cost Grant Funded County Funded %Grant Funded HMGP Wind Retrofit 12,046,085 8,522,768 3,523,317 71% HMGP Generators 9,126,655 6,953,642 2,173,013 76% Rowell's Waterfront Park 5,826,134 3,037,775 2,788,359 52% Key Largo Ill Roadway&Drainage 2,857,584 1,837,623 1,019,961 64% Twin Lakes Flood Mitigation 23,854,490 12,688,676 11,165,814 53% Stillwright Point SLR Design&Permitting 1,550,809 775,404 775,405 50% Flagler Ave Stormwater Resilience Design&Permitting 4,999,855 3,749,891 1,249,964 75% Toms Harbor Channel Bridge Repair 2,703,753 1,173,401 1,530,352 43% Crane Blvd Shared Use Path 2,549,620 1,485,373 1,064,247 58% Key Deer Blvd North of Watson Road Repair 9,059,942 6,148,052 2,911,890 68% Conch Key Roads SLR 12,710,851 3,566,825 9,144,026 28% Card Sound Road Bridge PDE 3,310,800 1,863,000 1,447,800 56% Tubby's Creek Bridge Replacement 6,466,907 3,348,865 3,118,042 52% Mosquito Creek Bridge Replacement 6,081,018 3,319,230 2,761,788 55% Winston Waterways Road Elevation&Stormwater Planning& Design 2,795,376 2,795,376 - 100% Big Coppitt Road Elevation&Stormwater Project Planning&Design 4,495,020 4,495,020 - 100% Total $ 110,434,899 $ 65,760,921 $ 44,673,978 60% 2 Summer Studies • Update State's revenue estimates (Mid-July through August 2024) • Continue to monitor other current year revenues • Monitor and update expenditure actuals • Continue to evaluate positions • Evaluate bond issuance 27 Key Points : • Lowered FY25 Countywide millage rate 2.6929, 1.0% below the FY24 rate 2.7191 likely to be the lowest in Florida again, $269.29 per $100,000 of value • Lowered FY25 Aggregate millage rate 3.3779, 0.8% below the FY24 rate 3.4049 • This budget absorbs unavoidable increased operational costs like CPI increases on vendor contracts, higher costs for utilities, fuel, goods and services. • Additional public safety investments. — Purchase of (3) Trauma Star Air Ambulance Helicopters — New Emergency Operations Center — Expanded Fire Rescue and Emergency Medical Care Services (24 Firefighters) — Sugarloaf Fire Station — Replacement Firetruck, Ambulance and the addition of 2 new Fire Rescue Boats. • Many Capital Projects funded in whole or in large part with non-local funding. — Canal projects fully grant funded with legislative appropriations, Stewardship and Restore. — Road elevation projects funded with $50M in Resilience FL. grants, $180M in Hazard Mitigation Grant Program funding, CDBG funding and congressional appropriation — Bridge replacement projects funded with FDOT, Small County Outreach Program, and Transportation Alternatives Program grants 28