TOWN OF PALM BEACH

Information for Public Hearing on: September 13, 2016


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To: Mayor and Town Council


Via: Thomas G. Bradford, Town Manager From: Jane Struder, Director of Finance

Re: Supplemental Backup for Public Hearing Date: September 13, 2016

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Attached are documents that have been revised as a result of the actions taken at the Special Town Council meeting on September 12, 2016. The documents include:



Resolution No. 178‐2016 Page 1 of 2

Section 2. The following information is set forth as required by Section 200.065 (2) (d),


Florida Statutes:


The millage rate levied herein is 4.66% more than the “rolled-back rate” of 3.1249 mills.


Section 3. The proposed millage rate adopted herein shall be subject to review and re-


computation by the Town Council of the Town of Palm Beach prior to or at the time of adoption of the final budget for the Town following a public hearing to be conducted at 5:01 P.M., Wednesday, September 21, 2016, in the Town Council Chambers, 360 South County Road, Palm Beach, Florida.


PASSED AND ADOPTED in a regular, adjourned session of the Town Council of the Town of Palm Beach assembled this 13th day of September 2016.


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Gail L. Coniglio, Mayor Michael J. Pucillo, Town Council President


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Richard M. Kleid, Council President Pro Tem


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Bobbie Lindsay, Town Council Member


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ATTEST: Danielle H. Moore, Town Council Member


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Susan A. Owens, MMC, Town Clerk Margaret A. Zeidman, Town Council Member


Resolution No. 178‐2016 Page 2 of 2

RESOLUTION NO. 180-2016


A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PALM BEACH, PALM BEACH COUNTY, FLORIDA, ADOPTING THE TENTATIVE GENERAL (OPERATING) FUND, DEBT SERVICE FUND, AND BUDGETS FOR OTHER FUNDS FOR THE 2016-2017 FISCAL YEAR.


WHEREAS, Section 200.065, Florida Statutes, requires among other things that the Town Council of the Town of Palm Beach adopt the tentative General (Operating) Fund, Debt Service Fund Budgets, and budgets for other funds after notice and public hearing, prior to adopting final millage rates or final budgets; and


WHEREAS, the Town Council has conducted a public hearing on the tentative General (Operating) Fund millage rate and budget as required by law.


NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF PALM BEACH:


Section 1. The tentative General (Operating) Fund, Debt Service Fund Budgets, and


Budgets for Other Funds for the Town of Palm Beach as attached, marked Exhibit A, are hereby adopted for the Fiscal Year beginning October 1, 2016, and ending September 30, 2017.


Section 2. The tentative General (Operating) Fund, Debt Service Fund Budgets, and


Budgets for Other Funds adopted by this resolution shall be subject to review and amendment by the Town Council of the Town of Palm Beach at a public hearing to be conducted at 5:01

P.M. on Wednesday, September 21, 2016, in the Town Council Chambers, 360 South County Road, Palm Beach, Florida.


Resolution No. 180-2016 Page 1 of 2

PASSED AND ADOPTED in a regular, adjourned session of the Town Council of the Town of Palm Beach assembled this 13th day of September 2016.


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Gail L. Coniglio, Mayor Michael J. Pucillo, Town Council President


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Richard M. Kleid, Council President Pro Tem


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Bobbie Lindsay, Town Council Member


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ATTEST: Danielle H. Moore, Town Council Member


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Susan A. Owens, MMC, Town Clerk Margaret A. Zeidman, Town Council Member


Resolution No. 180-2016 Page 2 of 2

Exhibit A


BUDGET SUMMARY

TOWN OF PALM BEACH - FISCAL YEAR 2016-2017

THE PROPOSED OPERATING BUDGET EXPENDITURES OF THE TOWN OF PALM BEACH ARE 6.9% MORE THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES.

General Fund 3.2706


ESTIMATED REVENUES


GENERAL FUND

SPECIAL REVENUE FUND

DEBT SERVICE FUND

CAPITAL PROJECTS FUND

ENTER- PRISE FUND

INTERNAL SERVICE FUND


TRUST FUND

TOTAL ALL FUNDS

Taxes: Millage per $1,000

Ad Val Taxes - Operating 3.2706

$49,494,500

$0

$0

$0

$0

$0

$0

$49,494,500

Sales and Use Taxes

5,903,000

0

0

0

0

0

0

5,903,000

Licenses and Permits

9,560,500

0

0

0

0

0

0

9,560,500

Intergovernmental Revenue

1,178,500

0

0

805,000

50,000

0

0

2,033,500

Charges for Services

3,816,550

0

0

0

6,144,200

7,105,033

0

17,065,783

Fines and Forfeitures

1,255,000

0

0

0

0

0

0

1,255,000

Contributions

0

0

0

0

0

0

10,159,695

10,159,695

Special Assessments

0

0

728,013

247,342

0

0

0

975,355

Interest

704,339

6,000

1,099

200,093

13,700

206,000

17,337,114

18,468,345

Miscellaneous

288,758

0

0

0

0

30,000

82,500

401,258

TOTAL SOURCES

$72,201,147

$6,000

$729,112

$1,252,435

$6,207,900

$7,341,033

$27,579,309

$115,316,936

Transfers In

685,000

760,200

7,115,933

9,555,200

0

1,838,037

3,839,000

23,793,370

Fund Balances/Reserves/Net Assets

3,966,230

299,652

0

13,674,637

642,617

5,717,343

0

24,300,479

TOTAL REVENUES,TRANSFERS & BALANCES

$76,852,377

$1,065,852

$7,845,045

$24,482,272

$6,850,517

$14,896,413

$31,418,309

$163,410,785

EXPENDITURES

General Government

$10,703,028

$0

$0

$0

$0

$13,396,413

$22,072,348

$46,171,789

Public Safety

29,011,945

0

0

0

0

0

0

29,011,945

Physical Environment

12,632,964

1,065,852

0

22,990,659

0

0

0

36,689,475

Transportation

1,128,181

0

0

0

0

0

0

1,128,181

Culture and Recreation

2,055,294

0

0

0

5,979,550

0

0

8,034,844

Principal Retirement

0

0

2,445,000

0

0

0

0

2,445,000

Interest and Fees

0

0

5,194,397

0

0

0

0

5,194,397

TOTAL EXPENDITURES

$55,531,412

$1,065,852

$7,639,397

$22,990,659

$5,979,550

$13,396,413

$22,072,348

$128,675,631

Transfers Out

21,320,965

0

109,825

1,491,613

870,967

1,500,000

0

25,293,370

Fund Balances/Reserves/Net Assets

0

0

95,823

0

0

0

9,345,961

9,441,784

TOTAL APPROPRIATED

EXPENDITURES,

TRANSFERS, RESERVES

AND BALANCES

$76,852,377

$1,065,852

$7,845,045

$24,482,272

$6,850,517

$14,896,413

$31,418,309

$163,410,785


The tentative, adopted, and/or final budgets are on file in the office of the above referenced taxing authority as a public record.

Coastal Financing Program with FY17 Budget

Updated FY17 Budget with Changes from 9/12/16 STC Meeting

Includes County Funding Projections


Fiscal Year


Beginning Balance

Revenue for

Coastal Program

Bond Deposits

Additional Transfers State and County Funds


Bondable Project Costs


Non‐Bond Project Costs


Interest Earnings


Debt Service


Ending Period Balance

2013

15,448,557

15,448,557

2014

15,448,557

12,402,807

11,900,000

(243,783)

(1,278,817)

83,361

(295,100)

38,017,025

2015

38,017,025

4,777,000

6,925,412

(3,935,588)

(21,306,354)

329,203

(734,613)

24,072,085

2016

24,072,085

8,015,220

2,432,228

(2,591,110)

(27,141,892)

159,000

(731,163)

4,214,368

2017

4,214,368

7,265,000

(1,500,000)

(2,625,302)

147,503

(731,413)

6,770,156

2018

6,770,156

7,482,950

(3,629,519)

(3,375,000)

236,955

(736,038)

6,749,504

2019

6,749,504

7,707,439

(3,581,000)

236,233

(735,038)

10,377,137

2020

10,377,137

7,938,662

(3,941,000)

363,200

(733,538)

14,004,461

2021

14,004,461

8,176,822

3,645,500

(25,575,000)

490,156

(731,538)

10,401

2022

10,401

8,422,126

(4,253,000)

364

(733,913)

3,445,978

2023

3,445,978

8,674,790

(3,643,000)

120,609

(735,538)

7,862,839

2024

7,862,839

8,935,034

(28,077,000)

275,199

(731,538)

(11,735,466)

2025

(11,735,466)

9,203,085

(2,772,500)

(410,741)

(731,913)

(6,447,536)

2026

(6,447,536)

9,479,177

(3,795,962)

(225,664)

(731,538)

(1,721,522)

Total

108,480,110

24,903,140

(11,900,000)

(131,365,827)

1,805,378

(9,092,881)


Assumes a 3% increase in revenue per year

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