08-29-2012_FY2013 Budget Recap p?- I
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VILLAGE oF NORTH FALm BEACH, FL
FY 2013 BUDGET RECAP
What we hope to
; ^ � accomplish this evening .
1 . Establish a Milla a Rate
2. Discuss options for vacancy savings
3. Discuss the option of transferring fiscal year end savings
to the Village's Capital Improvement Plan (CIP)
i
4
FY 2013
Budget '
Millage Override Options for Final Budget
* A millage rate lower than the Rolled-Back _ Utilize C1 Funning for Priority JY f & 2 Capit,7, rlurns
Rate of $6.9990 mils is not recommended K — Rcduccd Contingency
unless Unassigned Fund Balance is to be used I Offlize Reserves
forshortfall. Rolled Back Ratia CurrentMi11age Rate
currllnt FiseaI Year 1,12 mils ($6.9990M115) ($6.9f13 mils)
cftldes NO{.spitaj
nctudes lU Capital rroriit}�#i&2 capital to
inci s No CaiDgar PIWO;F1 &2 Cast to f?Za CiP Funapn+op
(Priority#1 &2-capital a1ze CN'rr�nding) t NP,_e Unasj+greedfarad
to tltfav CIP Funding) CcnKngenryReduced) lance)
W11asie Ram 6.5723 $ 7,1240 $ 1x,9990 $ 6.9723
1Mai UL!aget V� 1f,51f._+44 $ 1l.MJ8,1f4 5 1 f.b3f,424 1 1f,499,114
TUt31 AdNalorern Pro-ceeds 4 9,944,284 $ 10,653,344 9,882,454 9,844,794
Cur ilinquriuy -1 148,347 $ 244,447 ;$ 29.557 30.COD
(Manaigcr8 Councd)
Capital[nuri-develupur] "J $ - 4 - -
("') t=xuhnAm$95,000-Efvaixt&ILiWiziljrg UliliLe CIP FuntliiiU Fur Ulilite CIP Funding fur
dcrefo,percont;vbutron& Priority-f1. 8112itcrn: Priority it9 &-ft2items
Unassigned Fund Balance -5 10,158b.6b�3 5 741.Wt3,bb9 5 1U.t52i# .5b!j iu,bbu.bib
Uti line 530.143 of
F-9S6rVO
Unassigned Fund Balance as a %of Budget 01% G090 01% 01%
BudgetaryfTax Impact=
Increasei(Decrease) over2412Budget ;G 190,730 ;� 19,[X00 $ (17,824)
PPrrPnt 1 nr_rP.asPf(DP rrPa sP} 1 179° {1 11 CA _11 1 n%
InrrP21nPf(DPcrPnSP.) nvwr?{71?Ar1-ValnrP..rn 14P.0?[1 [?1,{13F1) s (5co..5- )
Peiuerit Iricieasel(aerioaseo 1.501,:u -0.2295 -0.15096
FY 201.3 �>
Budget Management Recommended Option: $6.9990 Mils (RBR)
Management Recommendation
Management's Recommendation is to establish a Millage
Rate of $6.9990 mils, which is the Village's rolled-back rate, and
utilize the Contingency reserve to fill the gap (amount
needed: $170,850...at $7.12 mils this reserve is $200,407).
➢ There will be no increase in taxes to our Village residents!
➢ Reduce contingency reserve to $29,557
➢ $20,000 Council Contingency and $9,557 Manager Contingency
➢ Historically, there has been very little activity in this reserve.
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➢ The Village has other options for unanticipated expenditures, for
example: Unassigned Fund Balance, Departmental Savings, etc.
➢ The Village's high level of service, amenities and quality of
life programs remain fully funded in FY 2013.
FY 2013
Budget
Discussion Items
1 . Should department vacancy savings be transferred to Council
Contingency / Reserve-Personnel Savings through a budget
transfer on a semi-annual basis or remain in the department until
needed?
Note: Throughout the fiscal year, departments utilize savings in one
category to offset an increase in another (Department categories:
Personnel / Operating / Capital). This helps keep the departmental
budget balanced and reduces the number of budget transfers during
the year
At the close of the fiscal year, the budget must be balanced by
1 department and category.
2. Should fiscal year end savings continue to be transferred to fund
the Capital Improvement Plan (CIP)?
Note: FY 2012 year end anticipated transfer is $800,000.
FY 2013
Budget
North Palen Beach V illage Council
YY24)13 Bu dget NI arls)rnp
Proposed Schedule
Dar. Date: Time: uhjed:
® Wedtesday A-iriY 25"' 7:Pao-for pm Council Goal 3e"
® Mcmday May 7th -0.ain- 11. M S-sff[budget]Retfeat
® Wediesday July 1 e 7:?M-Ht pin Couutry Club Budget�o;-ervmw)
® W-edieslay Jn1y25" 7=PIE-1R pnt General Find Budget(o�,erview)
Thursday Jul--1d`� C:ouocilieetiug Manager°s Proposed$udgetlesentation
r±
® W-kesday Asgust 1;t t_guo-1�L pru t klmal Fund Budmt(F' ie safety& 'UWi:,-Works> gwtments)
® .Tedies3ay Aigust$� Pilo-1{k poi General Fund Bu3getCo+nn,urri}y Develapffient,Lary, Council, 1
Ark mey and Niaaage-Depaiimmis)
® WL kesz ay Aigust'2'd 7.PM-10 pat General Fund BudgTt(Parlm & Recreation. Hu,maa ReEources,Fiaaace,1.T.-.
Debt aadOter Depfflnmuts)
® Wediesdax Aigust 29'u 7_FM-10 pm Budge-Recap and tvSlla.e discussions.
* :'he F 2013 Budget Workshop schedule hrs been developed to serve as a wide a*, dates and times are subject to flange in
acmdaucc with the"public mccting' pr��xsi�ns of FS S.
1St Budget Hearing scheduled for Thursday, September 13, 2012 at 7:30 pm.
2nd Budget Hearing scheduled for Thursday, September 27, 2012 at 7:30 pm.
FY 2013
Budget 0*.
Questions & Answers ?
OU
I r ti
FY 2013
Budget