Palm Beac alm Beach Co h County unty FY 2017 FY 2017 Pr Proposed Bud oposed Budget get 1
Impo mportant ant M Meet eeting ing Dat ates es Initial Budget Workshop June 14 6 PM Board Sets Millage Rate July 12 Regular BCC Meeting 1st Public Hearing September 6 6 PM 2nd Public Hearing September 19 6 PM 2
FY 201 FY 2017 Gene eneral ral Fun Fund d Total otal App Appropria ropriation tion Bud Budget get $1,2 $1,241,7 41,758,5 58,509 09 Sheriff Other Constitutional $594,447,569 Officers (47.9%) %) $58,043,080 (4.7%) %) Debt Service $68,723,075 (5.5%) %) Capital & Non- Departme mental $102,925,269 (8.3%) %) Reserves $99,500,000 (8.0%) %) BCC Departme ments $318,119,516 (25.6%) %) 3
FY FY 2017 2017 Propos oposed ed Proper operty T Taxes axes $1.111 billion $1.111 billion Fir ire e Res escu cue e Tax axes es Countywide Ope perat ating ing an and d Operating Taxes Cap apit ital al $786.7 million $250 $2 50.2 .2 mil million lion (70.8%) (22 22.5% .5%) Sheriff & Other Constitutionals Library Operating Judicial Financially Assisted Agencies & Voted Debt BCC Departments Taxes Other Agenices Capital Projects $52.0 million Community Redevelopment Agencies (4.7%) Cou ount ntywide ide Vot oted ed Debt Taxes $21.9 mil million lion (2.0 2.0%) %) 4
FY 2005 vs. FY 2017 Ma Major BCC Departme ments and Other Funding Net Operating Budget (in in millions millions) $120 $102 $100 $100 $80 $69 $62 $60 $60 $53 $51 $49 $41 $41 $38 $40 $33 $32 $30 $23 $20 $20 $0 ISS Facilities Parks Palm Tran Debt Service Engineering Reserves New Capital FY 2005 FY 2017 $3.2 million of R&R costs included in Engineering, and .9 million in Parks, was transferred from the operating budget to capital projects in FY 2017 5
Cumu mulative Percentage Increase in Ad Valorem m Su Support 60% 56.0% 52.9% 49.4% 48.1% 50% 44.8% 41.6% 39.8% 44.1% 40% 37.8% 35.4% 33.4% 37.4% 33.3% 32.4% 31.0% 29.4% 29.7% 30% 26.6% 27.1% 26.3% 25.6% 25.1% 23.9% 22.9% 23.0% 23.1% 22.3% 22.1% 20.1% 20.0% 19.2% 20% 17.3% 17.0% 18.7% 14.3% 13.8% 13.2% 12.9% 12.3% 12.1% 10.2% 10.0% 8.4% 10% 9.6% 7.5% 5.1% 3.1% 5.3% 0% FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Ad Valorem Funded County Departments Sheriff & BCC Combined Taxable Value Population & CPI 6
Major ajor I Impact mpacts on FY on FY 2017 T 2017 Tax R ax Requir equirement ements (in millions of dollars) Budget Factor Uses Sources Ad Valorem Taxes at Current Millage Rate $ 56.8 Increase in Major Revenues 5.8 Decrease in available one-time funding sources, other revenues, & statutory reserves (4.7) Sheriff (Net of Revenue and Prior Year Carry Forward) 27.9 BCC Departments (1) 8.1 Increase Other Constitutional Officers & Judicial 1.0 Increase in Net Capital Funding Requirements (1) 6.4 Decrease in BBF (Net of Sheriff Carry Forward) 1.5 Increase in Non Departmental Costs (Primarily CRAs) 4.1 Increase in Debt Service 0.1 Increase in Appropriated Reserves 8.7 Total $ 57.9 $ 57.9 Current Shortfall $0.0 (1) BCC Departments are net of $4.1 million in R&R costs transferred to Capital Project Funds in FY 2017 7
Ad Valorem Taxes 2007-2017 2007 2016 2017 Amount % Countywide - Non-Voted $688,623,243 $729,949,290 $786,739,036 $98,115,793 14.2% Countywide - Voted Debt 31,793,080 22,334,985 21,912,786 (9,880,294) (31.1%) Total Countywide $720,416,323 $752,284,275 $808,651,822 $88,235,499 12.2% Dependent Districts: Palm Beach County Library $53,088,448 $49,005,329 $52,003,632 ($1,084,816) (2.0%) Fire Rescue MSTU 189,205,947 214,773,330 230,756,611 41,550,664 22.0% (1) (1) Glades Regional Fire MSTU 1,428,525 - - (1,428,525) (100.0%) Jupiter Fire MSTU 13,009,290 17,655,598 19,414,629 6,405,339 49.2% Gross: Total Dependent Districts 256,732,210 281,434,257 302,174,872 $45,442,662 17.7% Total Countywide Funds & Dependent Districts $977,148,533 $1,033,718,532 $1,110,826,694 $133,678,161 13.7% (2) Notes: (1) Net of cities that have opted into Fire Rescue MSTU since FY 2007, the increase was $27.3 million, or 14.4%. (2) The CPI increased 20.2%, and population 8%, for the period FY 2007 - FY 2017. 8
Millage Rate Impact on Homestead Property Proposed FY 2016 - FY 2017 FY 2016 FY 2017 Amount % Property Values Assessed Value $ 250,000 $ 251,750 $ 1,750 0.7% Homestead Exemptions (50,000) (50,000) - 0.0% Taxable Value $ 200,000 $ 201,750 $ 1,750 0.9% Countywide Millage Rates Operating 4.7815 4.7815 - 0.0% Voted Debt Service 0.1462 0.1330 (0.0132) (9.0%) Total 4.9277 4.9145 (0.0132) (0.3%) Property Taxes Operating $ 956.30 $ 964.67 $ 8.37 Voted Debt Service 29.24 26.83 (2.41) Total $ 985.54 $ 991.50 $ 5.96 0.6% 9
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