Preliminary Budget Development - Seminole County · 2015. 9. 3. · Financial Overview:...
Transcript of Preliminary Budget Development - Seminole County · 2015. 9. 3. · Financial Overview:...
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Worksession
March 20, 2012
Preliminary Budget
Development
Fiscal Year 2012/2013
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AGENDA
March 6, 2012 (9am to Noon)
Introduction
Financial Overview: Presentation of financial status,
fund forecasts, and summary of future challenges. • Property Appraiser Update
• General Revenue
• Self Insurance Programs
• Transportation Funding / Sales Tax Program
Board Discussion / Direction
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AGENDA
March 20, 2012 (9am to Noon)
Financial Overview: Presentation of financial status,
fund forecasts, and summary of future challenges.
• Water & Sewer Fund
• Solid Waste Fund
• Fire Fund
FY2012/13 Budget Development Goals
Review Financial Challenges and Special Issues
Board Discussion / Direction
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Financial Overview
Environmental Services
Water & Sewer Fund
Solid Waste Fund
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Financial Overview
Fire Fund
Unincorporated County
City of Altamonte Springs
City of Winter Springs
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Fire MSTU Ad Valorem Taxes
FY2007/08 FY2008/09 FY2009/10 FY2010/11 FY2011/12 FY2012/13
$46.0M $48.0M $42.3M $38.9M $36.5M $35.4M
HB1BAmend 1 +
WS MergerMarket Market Market Market
--- 3.8% -11.7% -8.8% -5.3% -3.0%
• HB1B: 12% Millage Rate Reduction from
2.6334 to 2.3299
• Amendment 1: -8.9% Reduction $4.5M
Revenue Decrease 30%
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Fire Fund
Emergency Medical Services
Transport Billing
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Fire Fund
FY2010/11
Year End Results:
- Operating Deficit
Revenue +$1.3M
Lapsed Appropriations
$2 Million
• $1M Personnel
• $1M Operating
FY2010/11 (Unaudited)
Operating Revenue $44.1M
Operating Expenditures $44.7M
Operating Balance - $0.6M
Beginning Fund Balance $40.1M
Ending Fund Balance $39.5M
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Fire Fund
Preliminary Close
Budget / Actual
Adjustment
Fund Balance includes
$20M Reserved for
Future Requirements
Fund Balance Reconciliation
FY2011/12 Budget
Beginning Fund Balance$36.4M
Project Balances Forward $ 0.5M
Mid-Year Adjustment $ 2.6M
Actual 9/30/2011 Ending
Fund Balance$39.5M
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Fire Fund
FY2011/12
Budget (Amended):
Revenues down $3.4M
Balanced using Reserves
Expenditures at base
Operating:
• No funding Stations
• No funding for Fleet or
Capital Maintenance
FY2011/12 Budget
Appropriations for
Expenditure$45.3M
Sources:
Operating Revenues $40.7M
Reserves Used $4.6M
Balanced FY12 Budget $45.3M
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$20
$30
$40
$50
$60
Revenue Expenses
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Fire Fund
In Millions
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$20M Reserved for
Future Requirements
Operational
Balancing
Operating
Reserve
Fiscal Year 2011/12 (Assessments -3%) -$5M $15M
Fiscal Year 2012/13 (Assessments -0%) -$7M $9M
Fiscal Year 2013/14 (Assessments +2%) -$8M $1M
Fiscal Year 2014/15 (Assessments +2%) -$8M ---
Fiscal Year 2015/16 (Assessments +2%) -$9M ---
Fiscal Year 2016/17 (Assessments +2%) -$9M ---
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Forecast: Fire Fund
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Forecast: Fire Fund
13
$0
$10
$20
$30
$40
$50
$60
FY12 FY13 FY14 FY15 FY16 FY17
Millio
ns
Revenue
Expenditures
Reserves
Operating Balance / Total Reserve Level
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FY13 Budget Development Goals
1. Renewal and Replacement Plans
2. Program Assessments
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FY13 Budget Development Goals
Renewal and Replacement Plans• Fleet
• Technology
• Facilities
Benefits• Institutionalized Process: formal, documented and holistic
• Transparency and Understanding
• Assessment of needs for better business planning
• Ties into long-term financial plan
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FY13 Budget Development Goals
Fleet Renewal and Replacement Plan• One-time Process: Fleet Inventory Assessment
• Outcome: Rolling Fleet Replacement Plan
• Annual Process:
Rolling Replacement Plan – updated based on policy criteria
Listing of by program with identified replacement items
Written analysis and disposition
Fleet
Department
County Manager
Board
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FY13 Budget Development Goals
Program Assessments• Program Description: Purpose, Regulations, Activities/Services
• Inputs (Resource Requirements)
Staffing
Technology
Fleet
Facilities
Other Equipment
• Outputs (Product)
• Initial Outcomes (Results)
• Long-term Outcomes (Goals)
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Begin Process in 2012
and continue for FY14
Budget Development
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Summary
Summary of Key Discussion Items
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General Revenue Funds
Finance P25 Communications System/Towers Project• Increases General Revenue Reserves $19M
• Pledges the guaranteed entitlement portion of the County Revenue Sharing Program
Bond Call 10/1/2012: 1992 Gas Tax Revenue Bonds• Uses $6.4M in General Revenue Reserves to call bonds at 4.5 to 5% interest rates
• Savings of $1,125,490 in interest over next 6 years
Transportation Funding• General revenue supports other Transportation Expenditures $9M annually
• Local Option Gas Taxes expire August 2013/2015; begin evaluation and discussions
• Capital maintenance of $15 annually in 2001 Infrastructure Sales Tax through FY14
• Future operating requirements for Sunrail and LYNX
• Future funding will need to be addressed; staff to establish timelines
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Self-Insurance Funds
Workers Compensation Fund• Begin to gradually increase Rates to cover full costs
• Maintain reserves at highest confidence level based on Actuarial Evaluations
Property / Liability Fund• Continued assessment of rates to cover full costs
• Maintain adequate level of reserves in relation to insured and FEMA coverage
Health Insurance Premiums• Continued Analysis of fund activity; Reserves at 50% of Claims
• Begin to Index Premiums to avoid spikes
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Other Major Operating Funds
Water & Sewer Fund• Use of connection fees for payment of eligible debt serves – BAR FY12
• Renewal and Replacement Funding through indexing of rates vs. debt issues
• Continued monitoring of rates for indexing requirements
Solid Waste Fund• Exercise option to landfill yard waste to reduce operating costs by $400K
• Evaluate further in 2013 Bond Call 10/1/2013 for $400K interest savings
• Continued monitoring of rates for indexing requirements
Fire Fund• Transport Fees – Bring back for adjustment
• Operational Service and Financial Balance
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Budget Development FY2012/13
Board Discussion / Direction
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