HomeMy WebLinkAboutItem D08 D8
BOARD OF COUNTY COMMISSIONERS
COUNTY of MONROE Mayor James K.Scholl,District 3
The Florida Keys Mayor Pro Tern Michelle Lincoln,District 2
Craig Cates,District 1
David Rice,District 4
Holly Merrill Raschein,District 5
Board of County Commissioners Meeting
August 20, 2025
Agenda Item Number: D8
2023-4373
BULK ITEM: Yes DEPARTMENT: Tourist Development Council
TIME APPROXIMATE: STAFF CONTACT: Ammie Machan
N/A
AGENDA ITEM WORDING: Approval to revise Section II of TDC Operations Manual to include
Annual Budget Timeline and Strategy.
ITEM BACKGROUND:
The Risk Assessment of the TDC conducted by Cherry Bekaert Associates included a recommendation
to document budgeting methodology and timing for the TDC.
The TDC approved the attached Annual Budget Timeline and Strategy Schedule at their July 29, 2025.
Approval to include the attached Annual Budget Timeline and Strategy in Section II of the TDC
Operations Manual is requested.
PREVIOUS RELEVANT BOCC ACTION:
INSURANCE REQUIRED:
No
CONTRACT/AGREEMENT CHANGES:
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
TDC Annual Budget Timeline and Strategy.pdf
FINANCIAL IMPACT:
2360
Annual Budget Strategy Schedule
Required Budget Planning Tasks Date Responsibility
Required
Contact capital recipient grantees to detail February 1 Sen. Dir. Grants&Budget
which projects need to be rolled forward to
the next FY budget
Gather information from CEO and senior March 1 CEO, Comptroller, Sen. Dir. Grants&
staff re:end of FY2S projections and Budget
projected FY26 revenue-initial outline of
budget drafted
Reference bed tax percentages from Four March 1 Comptroller, Sen Dir. Grants&Budget
Penny Revenue Report-use%for capital
formula and 10% beach funds based on end
of current FY for projected upcoming budget
Tabulate projected staff salaries and beach April 1 CEO, Comptroller, Sen. Dir. Grants&
expenditures;confirm with the CEO what Budget
percentage to allocate to Capital Projects
Draft Fishing and Cultural Budgets April 1 CEO, Comptroller,Sen. Dir. Grants&
submitted to Committees Budget
TDC Budget Strategy Document submitted April 1 CEO, Comptroller, Director of Reach,
to TDC Board using all appliable research and Senior Staff
data and economic forecast models
Fishing and Cultural Committee Budgets April 1 S Fishing&Cultural Committees
approved
TDC Budget Strategy Document approved April 1S TDC Chairperson and Members
DAC Draft Budgets submitted to five April 1S CEO, Comptroller,Sen. Dir. Grants&
Committees Budget
Draft VFK Budget submitted including all May 1 CEO, Comptroller and Senior Staff
Departmental Budget details
Draft VFK Budget distributed for review by May 1 Board Chair and Treasurer, County
Board Chair and Treasurer, County Manager, Manager,Assist. County Manager,
Assist. County Manager, OMB,and County OMB, and County Clerk's Office
Clerk's Office
DAC budgets approved May1 S Five DAC Committees
VFK FY Budget submitted to TDC June 1 CEO, Comptroller, and VFK Senior
Staff
TDC approval of VFK Budget June 1 S TDC Chairperson and Members
Event Grant Funding approved June 1S TDC Chairperson and Members
Capital Grant Funding approved June 1S TDC Chairperson and Members
Approved TDC Budget submitted to OMB July 1 TDC Chairperson and CEO
BOCC Budget Planning Meeting July 1S BOCC, date dependent re: BOCC
meeting schedule...Chairperson and
CEO should attend
2361
Annual Budget Strategy Schedule
BOCC final approval of TDC budget Sept. 1 S BOCC, date dependent re: BOCC
meeting schedule
Start of New Fiscal Year Oct. 1
2362