Tuesday, May 12, 2020 Helena P. Alves, CGFO, CIA, MBA Financial - - PowerPoint PPT Presentation

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Tuesday, May 12, 2020 Helena P. Alves, CGFO, CIA, MBA Financial - - PowerPoint PPT Presentation

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Tuesday, May 12, 2020 Helena P. Alves, CGFO, CIA, MBA Financial Services Director Gwen E. Ragsdale, MBA Budget and Procurement Manager BUDGET PRESENTATION TIMELINE JAN - MAR APR - JUNE Survey Results 3/10 Annual City Council SAP

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SLIDE 1

Helena P. Alves, CGFO, CIA, MBA

Financial Services Director

Gwen E. Ragsdale, MBA

Budget and Procurement Manager

Tuesday, May 12, 2020

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SLIDE 2

BUDGET PRESENTATION TIMELINE

JAN - MAR APR - JUNE

  • Annual Financial Audit 4/7
  • YTD Budget Results Presentation
  • Fund Accounting Presentation
  • Review 10 year CIP Plan &

Revenue Restrictions

  • Property Tax Presentation
  • Survey Results 3/10
  • Annual City Council

SAP evaluation 3/18 -3/25

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SLIDE 3

JUL - SEPT

  • Adopt Maximum Millage Rate
  • Budget Workshop

Presentations to City Council

  • Public Hearings to Adopt

Tentative and Final Millage Rate & Budget

OCT - DEC

  • FY20 Year End Close-Out
  • End of Year Review with

Departments

BUDGET PRESENTATION TIMELINE

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2020 BUDGETED REVENUES BY SOURCE

Ad Valorem Taxes, 12.1% Local Option, Use and Fuel Taxes, 2.8% Communications Services Taxes, 1.1% Local Business Tax, 0.2% Permits, Fees and Special Assessments, 0.7% Intergovernmental Revenue, 9.1% Charges for Services, 46.0% Judgments, Fines & Forfeits, 0.2% Interest and Other Earnings, 0.5% Miscellaneous Revenues, 0.1% Non Revenues, 2.7% Transfers from Other Funds, 5.2% Debt Proceeds, 3.4% Appropriated Fund Balance, 15.9%

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2020 BUDGETED EXPENDITURES BY CATEGORY

Personal Services 20% Operating Expenses 31% Capital Outlay 35% Debt Service 8% Grants & Aid <1% Transfers to Other Funds 5% Contingency 1%

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FUND ACCOUNTING

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DEFINING TERMS

  • Represents its own checkbook
  • Subject to its specific regulations
  • Segregated based on its purpose

A Fund:

  • Can only be used for a specific purpose
  • Cannot be used for general operations
  • Segregated in its own fund/checkbook

Restricted Revenue:

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Governmental

Primarily supported by taxes

General fund

Special revenue funds Capital projects funds

Proprietary

Primarily supported by user fees

Enterprise funds Internal services funds

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SLIDE 9

Governmental

Primarily supported by taxes

Administration & Finance Public Safety (Fire & Police) Community Development (excluding Building) Streets & Parks Maintenance Parks & Recreation

Proprietary

Primarily supported by user fees

Utility Stormwater Building Information Technology Solid Waste Fleet Facilities

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FUND BALANCE

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Definition: Accumulated revenues over expenditures Use: For emergencies or one time expenditures Not meant to fund continuing operations Policies: General, Utility, Stormwater, Solid Waste, Disaster, Self Insured, and Fleet

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FORECAST INDICATORS

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TAX REVENUES

$1.3 M $1.1 M $1.1 M $940 K COMMUNICATIONS SERVICE TAX STATE REVENUE SHARING

Other Tax Revenues *

YTD Actual YTD Budget thru MAR $988 K $1.58 M $1.5 M $1 M $1.6 M $1.5 M LOCAL OPTION FUEL TAX SMALL COUNTY SURTAX 1/2 CENT SALES TAX

Tax Revenues Resulting from Shop Local *

YTD Actual YTD Budget thru MAR

* Given the recent Covid 19 epidemic events, a reduction in these revenues is expected. The City Manager has adopted measures to freeze certain operating expenditures until the full effects are measurable.

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UTILITY GROWTH

169 228 272 451 525 100 200 300 400 500 600 ACTUAL FY16 ACTUAL FY17 ACTUAL FY18 ACTUAL FY19 PROJECTED FY20

Pep Tank Installs

601 758 910 950 990 200 500 800 1100 ACTUAL FY16 ACTUAL FY17 ACTUAL FY18 ACTUAL FY19 PROJECTED FY20

Meter Installs

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COMMERCIAL & RESIDENTIAL UTILITY BILLS

462,967 471,482 481,848 493,855 503,855 FY16 ACTUAL FY17 ACTUAL FY18 ACTUAL FY19 ACTUAL PROJECTED FY 20

Number of Utility Bills

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EMERGENCY RESPONSE CALL VOLUME

2,618 3,162 4,865 5,334 7,052 7,135 7,895 9,166 10,068 10,718 11,163 12,055 12,946 13,392 2000 4000 6000 8000 10000 12000 14000

2020 Number of Emergency Response Call Trend

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2019 Taxable Sales in Palm Coast increased 3% over 2018

TAXABLE SALES

$0 $300 $600 $900 $1,200 2012 2013 2014 2015 2016 2017 2018 2019

Millions

Taxable Sales for Flagler County

Palm Coast Flagler County (Excluding Palm Coast)

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Through March, Single Family residential permits have increased 22% over 2019

SINGLE FAMILY RESIDENTIAL PERMITS

610 696 809

100 200 300 400 500 600 700 800 FY17 FY18 FY19

Single Family Residential Permits

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YEAR TO DATE EXPENDITURES

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YTD EXPENDITURES

DEPARTMENT BUDGET YTD SPENT % OF BUDGE T SPENT

Administration & Finance: City Manager, City Clerk, City Attorney, HR, Communications, Financial Services, Economic Development $4,711,642 $1,934,958 41% Community Development: Code Enforcement, Planning, Building $ 7,415,908 $ 3,085,391 42% Public Safety: Fire Department and Law Enforcement $ 13,107,073 $ 6,340,842 48% Parks & Recreation: Park Maintenance, Aquatic Center, Tennis, and Golf $ 6,613,103 $ 2,769,364 42% Public Works: Streets, Facilities Maintenance, Fleet $ 17,317,234 $ 7,491,778 43% Construction Management & Engineering Stormwater Utility $ 19,456,420 $ 6,894,717 35% Water & Wastewater Utility $ 23,688,900 $ 10,064,535 42% IT Internal Services $ 3,911,799 $ 1,574,735 41% IT Enterprise Fund $562,506 $186,418 33%

Through March

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SLIDE 21

QUESTIONS