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Home My WebLink About03-10-2025 BAC AgendaSEBAST _KN HOME OF PELICAN ISLAND SEBASTIAN BUDGET REVIEW ADVISORY COMMITTEE AGENDA 6:00 P.M. MONDAY — MARCH 10, 2025 CITY HALL 1225 MAIN STREET a. Call to Order b. Pledge of Allegiance c. Roll Call Introduction of Members (Name and Appointee) • Harry Hall Council Member Jones • Bruce Hoffman Vice -Mayor Dixon • Terry McGinn Council Member McPartlan • Bill Middleton Council Member Nunn • Larry Napier Mayor Dodd • Grace Reed At -large Member by Vote of City Council • Scott Baker At -large Member by Vote of City Council • Roy Garton Alternate Member by Vote of City Council • Susan Jacob Alternate Member by Vote of City Council e. Selection of Chairperson f. Selection of Vice -Chairperson g. Approval of Minutes: Meeting of August 19, 2024 h. Review Budget Calendar for FY2025-26 i. Comments by Chief Financial Officer Stewart j. Announce Next Meeting Date of May 5, 2025 k. Adjourn Agenda Attachments: • Minutes for Meeting of August 19, 2024 • Budget Calendar for FY2025-26 ANY PERSON WHO DECIDES TO APPEAL ANY DECISION MADE WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING WILL NEED A RECORD OF THE PROCEEDINGS AND MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S.286.0105) IN COMPLIANCE WITH THE AMERICAN WITH DISABILITIES ACT (ADA), ANYONE WHO NEEDS A SPECIAL ACCOMODATION FOR THIS MEETING SHOULD CONTACT THE CITY'S ADA COORDINATOR AT 589-5330 AT LEAST 48 HOURS IN ADVANCE OF THIS MEETING. ZOOM INFORMATION Join from PC, Mac, iPad, or Android: httr)s://us02web.zoom.us/i/81075897776 Phone one-tap:+13052241968„81075897776# US +19294362866„81075897776# US (New York) Join via audio:+1 305 224 1968 US+1 929 436 2866 US (New York)+1 301 715 8592 US (Washington DC)+1 309 205 3325 US+1 312 626 6799 US (Chicago)+1 646 931 3860 US+1 564 217 2000 US+1 669 444 9171 US+1 669 900 6833 US (San Jose)+1 689 278 1000 US+1 719 359 4580 US+1 253 205 0468 US+1 253 215 8782 US (Tacoma)+1 346 248 7799 US (Houston)+1 360 209 5623 US+1 386 347 5053 US+1 507 473 4847 US Webinar ID: 810 7589 7776 SEBASTIAN BUDGET REVIEW ADVISORY COMMITTEE MINUTES OF REGULAR MEETING AUGUST 19, 2024 Chairman Napier called the Citizens Budget Review Advisory Committee meeting to order at 6.00 p.m. II. Pledqe of Alleqiance was recited by all. III. Roll Call Present Mr. Hall Mr. McGinn (Zoom) Ms. Cerda Mr. Hoffman Mr. Napier Not Present Ms. Reed (a) -- Excused Mr. Newhart -- Excused Mr. Middleton -- Excused Mr. Killgore stated that at the last meeting Mr. Middleton was not listed in the roll call. He was not present, but he was excused from that meeting. IV. Approval of Minutes: Meeting of July 15, 2024 Everyone having had a chance to review the Minutes from July 15, 2024, Mr. Napier called for a motion. A motion to approve the Minutes as presented from July 15, 2024, except for the change as noted above regarding Mr. Middleton's excused absence, was made by Ms. Cerda, seconded by Mr. Hoffman, and approved unanimously via voice vote. V. Review and Approval of 3rd Quarter Financial Report Mr. Killgore stated that in the agenda packets there is the Agenda Transmittal Form that goes to City Council. Also in the packets is the City Resolution that they approve to authorize the budget changes that are listed on the exhibit. On the exhibit there are only three adjustments that actually need approval. There were expenditures out of the R & R account. The other changes that the Council and the changes that the City Manager has approval to authorize are also listed on the form. Mr. Killgore reviewed the General Fund Report. The revenues and expenditures are in very good shape. The forecasted General Fund balance by the end of this year is right CITIZENS BUDGET REVIEW ADVISORY COMMITTEE PAGE 2 MINUTES OF REGULAR MEETING AUGUST 19, 2024 at the $8 million level, which is what was projected to carry forward predicated on the current year budget. Mr. Killgore reviewed the Stormwater Fund report and the three Enterprise Fund reports. The Airport Building Fund and Stormwater Fund have projected fund balances close to what were estimated. The Golf Course Fund is a bit short because we did not carry forward the amount of funds that was thought would be carried forward from last year. Mr. Killgore reviewed the rest of the reports. He said it is noteworthy to look at the balances that were spent and encumbered compared to what were listed as Total Project Budgets. Total Project Budgets were $25 million, which is approximately 67% of the amounts that were appropriated. Most of the remaining is for three projects involving street repaving and reconstruction and improvements at Riverview Park. Mr. Killgore stated that, regarding the Quarterly Investment Report, he did notice an error just before this meeting. At the bottom of the report where is listed Interfund Loans Due from the Golf Course, the October 21 st, 2023 balance was $430,000.00, not $465,000.00. Mr. Killgore stated that the balance of the reports was information provided by the various departments, and he called for questions/comments. Mr. Hoffman asked regarding the General Fund Balance Forecast. Was the Financial Disclosure Opposition the State's effort to put full disclosure on City Council and everyone? Mr. Killgore stated that is correct. Regarding the Interfund Loans Report, he asked if the City has any other loans outstanding to third parties. Mr. Killgore stated that there are a few lease -purchase types of arrangements, but there are no more loans with a bank for the building, etc. He stated those are totally paid off. Mr. Hall asked regarding closing out the IT server, whether the City Manager has approval authority for that level of spending. Mr. Killgore said the approval level for the City Manager is $15,000.00, and it has to be a budgeted item for his appropriation. Thus, if it is budgeted, the City Manager still has to go to City Council for approval for $15,000.00 or more. There was discussion among Mr. Hall, Mr. Killgore, and Ms. Brooke -Reese regarding this item. Mr. Napier spoke regarding the Unencumbered Fund Balance of $7,764,000.00. He asked what the City's reserve policy is. Mr. Killgore said the City has had a $5 million number that has been present for years. It is akin to a minimum cash balance. There have been some additions to it where about $340,000.00 was appropriated for long-term retiree payouts. The loan from the Golf Course is part of that fund balance as an asset, not cash. Mr. Napier stated that it his opinion that rollback would be a better number CITIZENS BUDGET REVIEW ADVISORY COMMITTEE PAGE 3 MINUTES OF REGULAR MEETING AUGUST 19, 2024 to appropriate, and he thinks the City is building up the reserves without a plan to spend it. Mr. Hall agreed. Mr. McGinn is happy with the report, but he agrees that the Fund Balance is more than necessary. There was more discussion among Mr. Napier, Mr. McGinn, Mr. Hoffman, and Mr. Hall regarding this item, and Mr. Killgore said he will send the Committee members a report on this. VI. 2025 Budqet Update Mr. Killgore reported that City Council did set the proposed millage for 2025 at 3.9155, which is the same as the prior year. Staff is still working on the draft budget, and staff will present a budget package for the first public hearing on Monday, September 16tn September 25tn will be the final reading of the resolution setting the final millage and approving the budget, the capital program, and financial policies. He added that he is working on the financial policies, and he will send all the Committee members an informational copy when he sends the report to City Council. Mr. Napier said he thinks the financials look great, and the City is in good shape, and he is satisfied with the numbers. Mr. McGinn asked if any of the open items that appeared earlier in the summer have resolved themselves. Mr. Killgore said staff is working with the City's insurance broker on the insurance renewals. Also, there is the group insurance for the employees, which he thinks has been settled. Mr. Hoffman asked regarding interest income on the bank accounts, is that allocated. Mr. Killgore said yes. There being no further business, Chairman Napier adjourned the meeting at 6.37 p.m. Larry Napier, Chairman Jg Date: L'n J SEBASTI" HOME OF PELICAN ISLAND CITY OF SEBASTIAN - FISCAL YEAR 2025-2026 BUDGET CALENDAR DATE DAY EVENT 02/26/25 Wednesday City Council @6:00pm - Approve Budget Calendar. 02/27/25 ................................................................._............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Thursday Departments Receive Forms and Instructions for Capital Improvement Program. 03/10/25 Monday .............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Budget Review Advisory Meeting @ 6:OOpm — Organizational Meeting/ 1" Qtr Budget 03/14/25 ................................................................._..............................................................._............................................................................................................................................................................................................................................................................................................................................................................................................................ Friday Departments Submit Capital Improvement Program Request to Finance Dept. 04/11/25 Friday Departments Receive Forms and Instructions on Operating Budget Preparation. 05/02/25 Friday bepartments Submit Operating Budget Request to Finance Dept. ................................................................._............__............................__............................................................................................................................................................................................................................................................................................-...........................................-- 05/05/25 Monday ............................................................ Budget Review Advisory Board @ 6:00pm — Review 2nd Quarter Budget Report. 05/14/25 .............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Wednesday City Council @6:00pm — Approve 2nd Quarter Budget Report. 05/30/25 Friday Y Estimate of Property Values Received from Property Appraiser. p Y p rtY pp 06/13/25 ................ ................................................. Friday _....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Complete Review of Department Request and Balancing of CIP and Draft Budgets. 06/27/25 Friday DR-420 Certified Property Values Received from Property Appraiser. ................................................................._............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. 07/09/25 Wednesday City Council and Budget Review Advisory Board Provided Recommended CIP and .............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Operating Budget documents. 07/16/25 Wednesday City Council Budget Workshop @ 9:00am — Budget Review With Departments .......... 07/17/25 _................................................. ursday ..._.................................................................. City Council Budget Workshop @ 9:00am — Budget Review With Departments .............................................................................................................................................................................................................................................................................................................................................................................................................. 07/21/25 Monday Budget Review Advisory Board @6:00pm — Presentation of Draft CIP and Operating .............. ................ .......... ..................................................................... Budg.et and Consider Proposed osed Millag.e to be Recommended to City Council. Council. ............................................................................................................................................................................................................................................................................................................................................................................ 07/22/25 Tuesday Parks and Recreation Board @ 6:00pm — Review of Recreation Impact Fee Uses in CIP. ..................................._ 07/23/25 Wednesday City Council @6:00pm — Receive Budget Review Advisory Board Recommendation _...................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... and Approve Proposed Millage. 07/24/25 Thursday Send DR-420 Proposed Millage Form to Property Appraiser. ............................................................. 08/04/25 Monday ....................................................................................................................................................................................................................................................................................................................................................... Budget Review Advisory Board @6:00pm — Review 3rd Quarter Budget Report. 08/13/25 ......................................................... Wednesday _..............................................................._................................................................................................................................................................................................................................................... City Council @6:00pm — Approve 3rd Quarter Budget Report. 09/04/25 Thursday Anticipated Final Adoption of School Board Budget. ........... ................................................. 09/10/25 ........................................................................................ ....................................................................................................................................................................................... Wednesday ............................................. ............................................................................................................................................................................................................................................... Anticipated First Public Hearing on County Budget. ............................................................................................................................................................................................................................................................................................................................................................................................................... 09/ 15/25 Monday City Council @6:00pm — Special Meeting for First Public Hearing on the Millage and Budget - Approval of Capital Improvement Program — Approval of Financial Policies. ............................................................_ 09/17/25 ............................................................_.... _........................................................................................................................................................................................................................................................................................................................................................................................................................... Wednesday ................................................................................................................................................................................................................................................................................................................................................................................. Anticipated Final Public Hearing on County Budget. 09/21/25 Sunday Advertise the Tentative Millage and Proposed Budget Final Public Hearing. 09/24/25 . ........... --................................................ _........................................................................................................................................................................................................................................................................................................................................................................................................................... Wednesday CRA/City Council Meeting @6:00pm — Approval of Community Redevelopment ........... ................................................. _............................................................... _ Agency Budget - Public Hearing on Final Millage and Final Budget. ....................................................................................................................................................................................................................................................................................... .................................................................................................................................... 09/25/25 Thursday Send Resolution Adopting Final Millage to Property Appraiser. • NOTE Budget Workshops With Department Heads: 9:00am on 7/16/25 — StOnfiwatu, Roads, Fleet, Golf, MIS, City Clerk, City Attorney, and City Manager 9:00am on 7/17/25 — Police, Building, Airport, Parks, Facilities, Cemetery, HR, Finance, and Community Development/CRA