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TOWN OF PALM BEACH

COMMUNITY QUALITY OPERATIONAL EXCELLENCE

AND

FINANCIAL SUSTAINABILITY


FY2014 Proposed Budget

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Maintaining Fiscal Sustainability


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Factors to Consider for Millage Rate



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Ad Valorem Revenue Options



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Current Rate

LTFP

Rolled Back

  • PI Growth

Rolled Back

Millage Rate

3.2512

3.1900

3.1509

3.0985

Tax Revenue

$38,699,804

$37,971,362

$37,505,489

$36,882,180

Tax Effect on Homestead Value of

$1 Million


$55


($4)


($42)


($93)

Transfer to Coastal

$3,476,818

$2,748,376

$2,282,503

$1,659,194

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Long Term Financial Plan Impacts



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FY14 General Fund Expenditures


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General Fund Revenues = $63,641,100



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General Fund Expenditures = $63,641,100


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Legislative = $95,600

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.15% of Total Budget


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Maintained Level Funding

General Government = $733,300

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1.15% of Total Budget


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64.73% Increase from FY2013

Town Manager’s Office = $764,752

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1.20% of Total Budget


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3.15% Increase from FY2013

Advice and Litigation = $518,915

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.82% of Total Budget


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10.66% Increase over FY2013

Information Systems = $1,847,475

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2.90% of Total Budget


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10.66% Increase from FY2013

Human Resources = $700,116

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1.10% of Total Budget


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2.96% Increase over FY2013

Finance = $1,928,883

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3.03% of Total Budget


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2.47% Increase from FY2013

Planning, Zoning and Building = $3,677,408

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5.78% of Total Budget


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Commodities 80,745

2%

Capital Outlay

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0% Depreciation

28,776


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3,800,000


3,600,000


Contractual

1%

3,400,000

766,720

21%

3,200,000


Employee Benefits 780,189

21%

Salaries and Wages 2,020,978

55%

3,000,000


2,800,000


FY2011

Actual


FY2012

Actual


FY2013

Budget


FY2014

Budget


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2.15% Increase from FY2013

Fire-Rescue = $10,966,908

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17.23% of Total Budget


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2.95% Increase from FY2013


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Police = $13,298,269

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20.90% of Total Budget


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3.2% Increase from FY2013

Public Works = $14,362,671

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22.57% of Total Budget


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0.22% Increase from FY2013

Emergency Management = $47,950

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.08% of Total Budget


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Maintained Level Funding

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Transfers to Other Funds


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Debt Service Fund


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Pay As You Go

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Capital Improvement Program


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Revenues

Transfer from General Fund

$1,000,000

Transfer from Town Facilities Fund

225,000

WPB Reimbursement for Water Projects

800,000

Interest Earnings

25,000

Total Revenues

$2,050,000


Expenditures

Storm Drainage Improvements

$100,000

Sanitary Sewer Improvements

150,000

Roadway Milling, Resurfacing and Rebuilding

500,000

Bulkheads & Seawalls

50,000

WPB Water Main Improvements

800,000

Class III Landfill Improvements

100,000

Facility Improvements

350,000

Total Expenditures

$2,050,000

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Accelerated Capital Improvement Program


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Coastal Protection Program


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Project

FY14 Budget

Island wide Expenditures

485,000

R1 – Sea Turtle Monitoring

33,000

R1 - Beach Tilling, Escarpment Removal

20,000

R2 – North Ocean Blvd Seawall Replacement

5,600,000

R3-4 – Beach Nourishment

11,600,000

R3-4 – Beach Nourishment Construction Mitigation

150,000

R3-4 – Sea Turtle Monitoring

32,000

R3-4 – Biological Monitoring

220,000

R3-4 – Beach Tilling, Escarpment Removal, and Engineering

31,000

R7 – Renourish Phipps Project and Engineering

1,811,000

R7 – Beach Tilling, Escarpment Removal

20,000

R7 – Sea Turtle Monitoring

32,000

R7 – Biological Monitoring

100,000

R8 – Regional EIS

1,000,000

R8 – Construct Phase 1 concurrently with Phipps

950,000

R8 – Sea Turtle Monitoring

32,000

R8- Beach Tilling, Escarpment Removal

20,000

Total Coastal Protection Fund

22,136,000

Recreation Enterprise Fund

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Revenues = $4,984,400

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    1. % Decrease from FY13

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      Resolution No. 104-2013

      FY14 REF Fee Schedule

      Recreation Enterprise Fund

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      Expenditures = $3,361,748


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      2.74% Increase from FY13

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      Health Fund = $5,226,317


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        1. Decrease from FY13


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          Health Insurance Update

          • 2014 Plan Design

          • Wellness Strategy

          • Patient Protection and Affordable Care Act

          • Domestic Partner Benefits

          • Dental Insurance

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      Risk Fund = $7,142,000


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      36.83% Increase from FY13

      • Includes $2,000,000 Transfer to Coastal Protection

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      Equipment Replacement Fund



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      • Depreciation Transfer = $1,879,535

        • Decrease of $91,434 from FY13


      • Equipment Purchases = $2,977,895

        • Quint Fire Apparatus

        • Sewer Jet Vacuum Truck

        • Yard Trash Crane

        • 3 Police Pursuit Vehicles

        • Bucket Truck

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        • Numerous Smaller Pieces of Equipment

Employer Funding for Pension Funds


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Defined Benefit Plan


FY2013

FY2014

$ Change

% Change

Gen. Employees

$1,223,869

$1,850,688

$626,819

51.2%

Lifeguards

125,294

143,700

18,406

14.7%

Police

1,257,107

1,881,949

624,842

49.7%

Fire-Rescue

1,370,637

2,040,491

669,854

48.9%

Sub-Total

$3,976,907

$5,138,653

$1,939,921

48.8%

Prepaid Contribution

0

(930,690)

(930,690)

100.0%

Proposed Contribution Change

0

152,515

152,515

100.0%

Amount Included in Budget

$3,976,907

$5,138,653

$1,161,746

29.2%


Defined Contribution Plan


FY2012

FY2013

FY2014

General

$123,785

$371,693

$374,514

Lifeguards

2,014

5,428

5,590

Police

43,163

158,090

155,012

Fire-Rescue

47,748

172,855

158,081

Total

$216,710

$708,066

$693,197

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OPEB Trust Fund


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FY08 = $1,466,000

FY09 = $1,649,000

FY10 = $1,550,000

FY11 = $1,533,000

FY12 = $1,493,000

FY13 = $1,769,000

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FY14 = $1,506,000

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Resolutions



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Proposed Millage Rate

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Upcoming Schedule



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þÿ

to Adopt FY14 Millage Rate and Budget