HomeMy WebLinkAbout07-21-2025 BAC Agenda
SEBASTIAN BUDGET REVIEW ADVISORY COMMITTEE
AGENDA
6:00 P.M. MONDAY – JULY 21, 2025
CITY HALL
1225 MAIN STREET
a. Call to Order
b. Pledge of Allegiance
c. Roll Call
d. Approval of Minutes: Meeting of March 5, 2025
e. Review of FY2025 2nd Quarter Financial Reports
f. Presentation on Draft FY 2026 Budget and Proposed Millage
g. Next Meeting Date – Monday, August 4, 2025
h. Adjourn
Agenda Attachments:
• Minutes for Meeting of March 5, 2025
• FY 2025 2nd Quarter Budget Report
• FY 2026 Budget and Capital Program PowerPoint Presentation
• Link to Draft Proposed FY 2026 Budget:
https://www.cityofsebastian.org/DocumentCenter/View/3075/Fy-25-26-Draft-Annual-
Budget---Dated-07092025
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 EVIDENSE UPON WHICH THE APPEAL IS TO BE
HEARS. (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.
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SEBASTIAN BUDGET REVIEW ADVISORY COMMITTEE
MINUTES
6:00 PM MONDAY – MAY 5, 2025
CITY HALL
1225 MAIN STREET
a. Chairman Hall called the meeting to order at 6:00 p.m.
b. The Pledge of Allegiance was recited
c. Roll Call
Mr. Napier
Mr. Hall (Chair)
Mr. McGinn
Mr. Baker
Mr. Garton
Ms. Jacob
Absent
Ms. Reed (Vice Chair) – excused
Mr. Hoffman
Mr. Middleton
Also Present
Brian Benton (Zoom)
Brian Stewart, Finance Director/CFO
Jeanette Williams, Recording Secretary
d. Approval of Minutes: Meeting of March 10, 2025
A motion was made by Mr. Baker and seconded by Mr. Napier to approve the March 10, 2025
minutes which passed with a unanimous voice vote.
e. Review of FY2024 4th Quarter and FY2025 1st and 2nd Quarter Budget Amendment
Reports
The Finance Director explained the information they had in their packet was three different
quarters of budget amendments: the 4th quarter of FY2024, the 1st quarter of FY2025, and the
2nd quarter of FY2025.
He explained the first section in the new format are the budget amendments that affect fund
balance or reserves, which requires Council approval. (These have been previously reviewed by
the board.) The second half of each of the amendments would be adjustments not affecting fund
balance or reserves, only requiring the City Manager’s approval.
He noted the information they are looking at includes a lot of project changes and some project
cleanups. Some of the changes include dipping into the reserves for repairs and maintenance.
At the end of FY2024, there were some project closeouts requiring additional funding leading to
the need for the budget adjustment. If money was taken from the reserves for a project, the
project is shown with a negative balance, the appropriation is added and the project will still be
shown in the negative for coding purposes.
BUDGET REVIEW ADVISORY COMMITTEE PAGE 2
MINUTES OF REGULAR MEETING
MAY 5, 2025
He said at the bottom of each report is a line for the net increase or decrease to the fund balance.
For the 4th quarter of FY2024 (September 30, 2024), there was a net increase of $450,824, then
on the 1st quarter of FY2025 (December 31, 2024) there was a net decrease to the balance
reserves of a $159,448, and then for the 2nd quarter (March 31, 2025) there is a net increase of
$29,812.
Chair Hall noted this format gives the board information on the fund balances but not enough
information on how the current budget is doing and which direction the budget is going. The
Finance Director explained these were the amendments and adjustments to the original budget.
Chair Hall said previously, the board was provided information on why the items were increased
or decreased in an expenditure report that indicated where the City was percentage-wise.
The Finance Director said he could work with the board on formatting the reports that they would
find easier to review. Mr. Napier said what Mr. Hall and Mr. McGinn were looking for was an
income statement that shows the revenues from all departments, as well as all funds and the
expenditures associated therewith. Mr. Napier said the information presented tonight made sense
if they went back to the original budget and by his review, it appeared that the City was in good
financial shape.
Chair Hall asked the Financial Officer to provide information on the patrol vessel.
The City Manager joined via Zoom and explained the line item for Waste Management included
a transfer of funds to establish the account with funds collected from the tax collector payments
as it started out in a deficit; then within the first two or three months of collections, the solid waste
account was established.
The City Manager also explained the police boat was a $250,000 budgeted item: the City received
a FIND grant for $125,000 and matched that with DST funds however the account cannot be
closed until everything is paid for the vessel.
He reiterated that what was presented was only the budget transfers and what they will see in the
future is a shortened version of the full in-depth report. He offered to have another meeting for
the board to measure the financials in an easy, readable format.
Mr. Garton asked for more information on the grants. He noted that given the budget cuts at both
the federal and state level if there was a contingency plan. The City Manager said the City will
not expend funds until they are awarded and all signatures are on the grant documents; and if the
full award doesn’t come through, Council would have to have to identify how much of the
improvements should be made or if the project should be eliminated.
The City Manager stated staff was asking the board to make a recommendation to City Council
to approve the budget amendments which are delayed because of the previous finance director’s
retirement and staff’s concentration on preparing the next budget.
Mr. Napier said he would like to see an income statement as well. Mr. McGinn said he has been
advised that they weren’t there to change anything that happened within the City and he pointed
out that 50-80% of the items have already been discussed with City Council so as a committee
member when the Council meetings are watched, it makes a big difference. He suggested that
BUDGET REVIEW ADVISORY COMMITTEE PAGE 3
MINUTES OF REGULAR MEETING
MAY 5, 2025
the board make a recommendation that they accept what has been presented but request to see
more in the future.
Mr. Baker asked if there was an increase of $320,000 to the General Reserve. The Finance
Director explained that at the end of the 4th quarter, there was an increase of $450,008.24; and
then in the current year, 2025 budget, there was a decrease of the $159,448 and then a slight
increase of $29,812 which are changes to the budgeted fund balance but it doesn’t change the
actual fund balance in any way.
It was the consensus of the board to request additional information on the budget amendments
going forward.
MOTION by Mr. Baker and SECOND by Mr. McGinn to approve the recommendation of the
FY2024 4th quarter budget amendment as presented to City Council passed with a unanimous
voice vote.
MOTION by Mr. McGinn and SECOND by Mr. Garton to approve the recommendation of the
FY2025 1st quarter budget amendment as presented to City Council passed with a unanimous
voice vote.
MOTION by Ms. Jacob and SECOND by Mr. McGinn to approve the recommendation of the
FY2025 2nd quarter budget amendment as presented to City Council passed with a unanimous
voice vote.
f. Announce Next Meeting Date of July 21, 2025
It was determined that Mr. Baker, Mr. Napier and Chair Hall would not be available for the July 21
meeting. Mr. McGinn said he could participate by Zoom.
In response to the question of moving up the meeting, the City Manager said staff could push it
back a week to give time to prepare the budget for the meeting. He offered to review the calendar
and get back in touch with the board members.
g. Being no further business, Chair Hall adjourned the Citizens Budget Review Advisory
meeting at 6:49 p.m.
City of Sebastian QUARTERLY FINANCIAL REPORT
Quarter 2, Ending 3/31/2025
REVENUES:
FY 25 FY 25 FY 25 FY24 FY25 % through Estimated Amount
Original Budget Amended Prior Fiscal Year Current Fiscal Year Amount over % Increase Fiscal Year % of Over (Under)
Budget Amendments Budget YTD Actual YTD Actual (Under)(Decrease)(Oct - Mar)Budget Budget
Governmental and Proprietary Funds:
Ad Valorem Tax 7,131,469.00 - 7,131,469.00 6,075,069.39 6,647,967.92 572,898.53 9%50%93%3,082,233.42
Local Half-Cent Sales Tax 2,550,000.00 - 2,550,000.00 853,500.23 837,052.44 (16,447.79) -2%50%33%(437,947.56)
Local Option Gas Tax 804,572.00 - 804,572.00 229,955.50 241,074.67 11,119.17 5%50%30%(161,211.33)
Discretionary Sales Tax 5,032,170.00 - 5,032,170.00 1,613,229.53 1,647,221.42 33,991.89 2%50%33%(868,863.58)
Franchise Fees & Utility Service Taxes 5,722,950.00 - 5,722,950.00 2,175,352.19 2,063,952.78 (111,399.41) -5%50%36%(797,522.22)
Solid Waste Collection Fees - 1,966,050.00 1,966,050.00 - 2,176,468.78 2,176,468.78 #DIV/0!50%111%2,176,468.78
Stormwater Utility Fee 2,702,000.00 - 2,702,000.00 1,833,796.53 2,552,085.03 718,288.50 39%50%94%1,201,085.03
Golf Fees & Sales 2,012,638.00 - 2,012,638.00 1,277,656.69 1,351,824.89 74,168.20 6%50%67%345,505.89
Airport Fund Operating Revenues 786,620.00 - 786,620.00 353,342.91 382,137.14 28,794.23 8%50%49%(11,172.86)
Other Taxes, Permits & Fees 1,255,000.00 - 1,255,000.00 626,867.63 562,325.62 (64,542.01) -10%50%45%(65,174.38)
Grants & Other Intergovernmental Rev 9,356,203.88 (62,294.00) 9,293,909.88 3,292,963.06 4,358,426.07 1,065,463.01 32%50%47%(319,675.87)
Misc & Other income 2,287,743.47 65,633.00 2,353,376.47 1,474,802.55 1,381,772.74 (93,029.81) -6%50%59%205,084.51
Total Revenues 39,641,366.35 1,969,389.00 41,610,755.35 19,806,536.21 24,202,309.50 4,395,773.29 22%50%58%3,396,931.83
Comparison to Prior Yr Actual Comparison to Budget
-
1,000,000.00
2,000,000.00
3,000,000.00
4,000,000.00
5,000,000.00
6,000,000.00
7,000,000.00
8,000,000.00
9,000,000.00
10,000,000.00
Governmental and Proprietary Revenues
FY25 Amended Budget FY25 Actual YTD
City of Sebastian QUARTERLY FINANCIAL REPORT
Quarter 2, Ending 3/31/2025
EXPENDITURES/EXPENSES:
FY 25 FY 25 FY 25 FY24 FY25 % through Estimated Amount
Original Budget Amended Prior Fiscal Year Current Fiscal Year Amount over % Increase Fiscal Year % of Over (Under)
Budget Amendments Budget YTD Actual YTD Actual (Under)(Decrease)(Oct - Mar)Budget Budget
Governmental and Proprietary Funds:
Salaries and Benefits Total (included below)18,021,102.00 (6,528.00) 18,014,574.00 7,941,720.68 8,969,572.00 1,027,851.32 13%50.00%50%(37,715.00)
Professional Services Total (included below)6,476,208.25 151,436.00 6,627,644.25 1,547,312.84 1,705,294.55 157,981.71 10%50.00%26%(1,608,527.58)
Departments:-
01 City Council 82,305.00 - 82,305.00 36,992.66 24,174.35 (12,818.31) -35%50.00%29%(16,978.15)
05 City Manager 608,145.00 933.00 609,078.00 169,118.10 310,289.27 141,171.17 83%50.00%51%5,750.27
09 City Clerk 321,140.00 817.00 321,957.00 181,922.84 165,739.83 (16,183.01) -9%50.00%51%4,761.33
10 City Attorney 261,290.00 233.00 261,523.00 112,894.28 137,954.36 25,060.08 22%50.00%53%7,192.86
20 Finance 791,055.00 1,109.00 792,164.00 443,201.05 342,727.21 (100,473.84) -23%50.00%43%(53,354.79)
21 Management Information Services 757,900.00 27,454.00 785,354.00 345,243.82 413,833.84 68,590.02 20%50.00%53%21,156.84
35 Human Resources 302,050.00 467.00 302,517.00 121,252.85 138,580.19 17,327.34 14%50.00%46%(12,678.31)
40 Police 8,471,517.00 51,563.00 8,523,080.00 3,932,728.08 4,375,325.18 442,597.10 11%50.00%51%113,785.18
52 Roads and Maintenance 1,495,055.00 82,394.00 1,577,449.00 603,307.89 796,929.05 193,621.16 32%50.00%53%49,401.55
54 Fleet Management 272,945.00 700.00 273,645.00 126,109.87 140,528.95 14,419.08 11%50.00%51%4,056.45
56 Facilities Maintenance 857,320.00 933.00 858,253.00 482,523.27 376,635.12 (105,888.15) -22%50.00%44%(52,024.88)
57 Parks and Recreation 1,812,980.00 (2,505.00) 1,810,475.00 609,068.90 825,096.41 216,027.51 35%50.00%46%(81,393.59)
59 Cemetery Operations 205,515.00 233.00 205,748.00 79,489.95 69,393.67 (10,096.28) -13%50.00%34%(33,363.83)
80 Community Development 710,255.00 12,667.00 722,922.00 251,725.72 269,453.63 17,727.91 7%50.00%38%(85,673.87)
99 Non-Departmental 2,238,873.00 (43,859.00) 2,195,014.00 1,468,281.36 1,740,886.19 272,604.83 19%50.00%78%621,449.69
Riverfront Redevelopment 396,835.00 (50,000.00) 346,835.00 102,716.82 104,910.45 2,193.63 2%50.00%26%(93,507.05)
Stormwater 2,672,080.00 - 2,672,080.00 697,837.92 1,122,497.55 424,659.63 61%50.00%42%(213,542.45)
Solid Waste 1,966,050.00 1,966,050.00 - 956,718.75 956,718.75 #DIV/0!50.00%49%(26,306.25)
Golf Operations 1,852,464.00 37,064.00 1,889,528.00 622,849.67 904,572.64 281,722.97 45%50.00%48%(40,191.36)
Airport Operations 778,923.00 28,255.00 807,178.00 288,324.12 420,573.84 132,249.72 46%50.00%52%16,984.84
Building Dept 1,467,575.00 - 1,467,575.00 258,083.15 611,742.09 353,658.94 137%50.00%42%(122,045.41)
Capital Projects 10,361,275.00 2,594,042.00 12,955,317.00 6,109,732.87 6,123,932.52 14,199.65 0%50.00%47%(353,725.98)
Total Expenses 36,717,497.00 4,708,550.00 41,426,047.00 17,043,405.19 20,372,495.09 3,329,089.90 20%50.00%49%(340,528.41)
Comparison to Prior Yr Actual Comparison to Budget
-
1,000,000.00
2,000,000.00
3,000,000.00
4,000,000.00
5,000,000.00
6,000,000.00
7,000,000.00
8,000,000.00
9,000,000.00
Department Expenditures
FY25 Amended Budget FY25 Actual YTD
City of Sebastian QUARTERLY FINANCIAL REPORT
Quarter 2, Ending 3/31/2025
CASH & INVESTMENTS:
Prior Fiscal Year Current Fiscal Year
Current Balance YTD Actual YTD Actual
All Funds:
Cash (Seacost Bank)21,764,865.11 259,082.94 232,543.51
Investments
FL Prime (SBA)4,457,745.76 160,504.67 149,900.77
FL Trust 595,554.79 18,337.30 10,391.14
FL CLASS
Morgan Stanley - PD Pension 26,732,181.93 82,048.81 - * 2025 Interest not yet posted
Total Investments 31,785,482.48 260,890.78 160,291.91
Total Cash & Investments 53,550,347.59 519,973.72 392,835.42
Interest Earned
City of Sebastian CAPITAL PROJECT STATUS REPORT AS OF MARCH 31, 2025
Current Prior
Project Budget Share Project Year Year Expenditures Percent Funds
Number Description Budget Sources (in Thousands of $)Budget Expenditures Expenditures To Date Expended Encumbrances Remaining
FY2020
A2007 CDBG Grant Program CDBG 748.4 748,443 41,932 549,158 591,090 78.98%12,393 144,960
748,443$ 41,932$ 549,158$ 591,090$ 78.98%12,393$ 144,960$
FY2022
A2220 Working Waterfront- Submerged Land Lease CRA 50 50,000 - 8,550 8,550 17.10%- 41,450
A2221 BSSC Baseball Backstops RIF 75 75,000 21,417 5,000 26,417 35.22%500 48,083
A2230 Railroad Crossing Sidewalks LOGT/DST 100/90 190,000 130,683 18,246 148,929 78.38%- 41,071
A2231 Road Improvements ARPA 2 2,119,000 393,949 1,674,207 2,068,156 97.60%50,844 (0)
A2250 Construct (3) Square Hangars FDOT/DST 1,256/350 1,605,895 696,038 519,863 1,215,900 75.71%288,912 101,083
A2261 Concha Dam Replacement DST 700 700,000 53,210 - 53,210 7.60%13,995 632,795
A2264 Gardenia Ditch ARPA/DST 688/308.7 996,728 720 10,016 10,736 1.08%985,991 1
A2265 Schumann Drive Box Culvert ARPA/DST/SW 44/18.6/18.6 81,370 35,652 7,596 43,248 53.15%38,122 -
5,817,993$ 1,331,669$ 2,243,478$ 3,575,147$ 61.45%1,378,363$ 864,482$
FY2023
A2313 Hurricane Nicole FEMA 0 -$ 7,725$ 31,426$ 39,151$ 0.00%3,260$ (42,411)$
A2320 Swing/Bench Park CRA 59 59,300$ 5,110$ 14,390$ 19,500$ 32.88%4,800$ 35,000$
A2324 Riverview Area Improvements DST 74 73,591$ -$ 46,895$ 46,895$ 63.72%25,255$ 1,441$
A2327 Natural Landscaping/LID Demo GF 15 15,000$ 12,791$ 500$ 13,291$ 88.61%-$ 1,709$
A2328 Strategic Plan GF 75.3 75,361$ 18,123$ 46,361$ 64,484$ 85.57%11,000$ (123)$
A2353 Hangar D Office Improvements FDOT/DON 320/80 400,000$ 369,342$ 19,682$ 389,024$ 97.26%-$ 10,976$
A2364 Stonecrop Drainage Improvements FEMA/DST 2,293/746 3,038,287$ 272,331$ 205,884$ 478,216$ 15.74%2,463,376$ 96,696$
3,661,539$ 685,423$ 365,138$ 1,050,561$ 28.69%2,507,691$ 103,288$
FY2024
A2413 Sustainable Sebastian GF 10 10,000$ 26$ 491$ 517$ 5.17%-$ 9,483$
A2419 PD Vehicle Replacement GF 50.3 50,264$ 49,708$ -$ 49,708$ 98.89%-$ 556$
A2423 Working Waterfront Expansion FIND/CRA 60 / 60 120,000$ 19,410$ 38,174$ 57,584$ 47.99%62,416$ -$
A2425 N County Marine Law Enforcement Facility FIND/DON 50 / 50 100,000$ -$ -$ -$ 0.00%-$ 100,000$
A2426 Grant Admin - N County Marine Law Enf Facility DON/GF 10.4 / 39.7 50,120$ -$ 8,925$ 8,925$ 17.81%41,195$ -$
A2427 Riverview Park Improvements DST 2500 2,500,000$ -$ -$ -$ 0.00%-$ 2,500,000$
A2428 Riverview Park Master Plan GF 62.7 62,700$ 17,682$ 43,810$ 61,492$ 98.07%1,208$ -$
A2431 Street Reconstruction DST 1780 1,780,163$ 915,003$ 333,323$ 1,248,326$ 70.12%504,791$ 27,046$
A2434 Collier Creek Roadway Stabilization DST 166 166,029$ 60,174$ 40,100$ 100,274$ 60.40%15,300$ 50,455$
A2435 Driveways/Culverts - Phase 3 LOGT/DST 56.8/195.2 252,000$ 52,282$ 86,332$ 138,615$ 55.01%88,208$ 25,177$
A2436 Cemetery Building CTF 75.4 75,410$ 17,530$ -$ 17,530$ 23.25%57,880$ -$
A2452 AWOS System FDOT/DST 102.8/25.7 128,550$ 112,300$ -$ 112,300$ 87.36%16,250$ -$
A2453 Design Taxiway Golf FDOT/DST 172.4/43.1 215,500$ 71,234$ 97,687$ 168,922$ 78.39%42,398$ 4,180$
A2463 SW Facility Pump DST 80 80,000$ 50,056$ -$ 50,056$ 62.57%29,944$ -$
A2467 Majestic & Montrose Drainage DST 133.2 145,744$ 90,971$ -$ 90,971$ 62.42%20,432$ 34,341$
5,736,480$ 1,456,377$ 648,843$ 2,105,219$ 36.70%880,022$ 2,751,239$
City of Sebastian CAPITAL PROJECT STATUS REPORT AS OF MARCH 31, 2025
Current Prior
Project Budget Share Project Year Year Expenditures Percent Funds
Number Description Budget Sources (in Thousands of $)Budget Expenditures Expenditures To Date Expended Encumbrances Remaining
FY2025
A2500 Citywide Computers DST 35 35,000$ 6,665$ -$ 6,665$ 19.04%-$ 28,335$
A2501 COStv Equipment DST 15 15,000$ 9,348$ -$ 9,348$ 62.32%-$ 5,652$
A2502 Network Infrastructure DST 30 30,000$ 20,440$ -$ 20,440$ 68.13%-$ 9,560$
A2503 Security Cameras DST 27.8 27,762$ 578$ -$ 578$ 2.08%-$ 27,184$
A2504 City Hall Security Improvements DST 90 92,238$ -$ -$ -$ 0.00%92,238$ -$
A2505 PD Vehicles & Equipment DST 297 296,996$ -$ -$ -$ 0.00%293,311$ 3,685$
A2506 PD Vehicles/Body Cameras DST 101.6 101,559$ 48,836$ -$ 48,836$ 48.09%-$ 52,723$
A2507 CAD/RMS System DST 25 25,000$ -$ -$ -$ 0.00%-$ 25,000$
A2508 Hurricane Milton FEMA 0 -$ 297,674$ -$ 297,674$ 100.00%17,721$ (315,395)$
A2509 Air Conditioner Replacements DST 25 25,000$ 11,510$ -$ 11,510$ 46.04%-$ 13,490$
A2510 Police Patrol Boat FIND/DST 125/109.5 234,504$ 216,617$ -$ 216,617$ 92.37%2,391$ 15,496$
A2511 Stan Mayfield WW Restoration Phase 1 FIND/GF/CRA 100/50/50 200,000$ -$ -$ -$ 0.00%-$ 200,000$
A2512 Community Center Upgrades GF 37.5 37,500$ 7,650$ -$ 7,650$ 20.40%-$ 29,850$
A2513 JAG Grant - Monoculars JAG 12.7 12,750$ -$ -$ -$ 0.00%12,428$ 322$
A2520 Playgrounds RIF 60 60,000$ -$ -$ -$ 0.00%-$ 60,000$
A2521 Park Improvements RIF 20 20,000$ -$ -$ -$ 0.00%14,742$ 5,258$
A2522 CRA Maintenance Equipment CRA 123.5 123,500$ 32,335$ -$ 32,335$ 26.18%78,185$ 12,981$
A2523 Main Street Ramp Dredging FWC/CRA 50/50 100,000$ -$ -$ -$ 0.00%-$ 100,000$
A2524 Main Street Shoreline Stabliization FIND/CRA 50/50 100,000$ -$ -$ -$ 0.00%99,995$ 5$
A2525 Twin Piers Dry Line FIND/CRA 40/40 80,000$ -$ -$ -$ 0.00%-$ 80,000$
A2526 Working Waterfront Expansion FIND/CRA 250/250 500,000$ -$ -$ -$ 0.00%-$ 500,000$
A2527 Working Waterfront Dry Line FIND/CRA 25/25 50,000$ 32,850$ -$ 32,850$ 65.70%3,650$ 13,500$
A2528 Pedestrian Crossing Signs CRA 5 5,000$ 1,972$ -$ 1,972$ 39.44%-$ 3,028$
A2529 Bryant Ct Park Playground CONT 80 80,000$ 78,951$ -$ 78,951$ 98.69%-$ 1,049$
A2530 Street Preservation/Repaving LOGT 1,600 1,579,739$ -$ -$ -$ 0.00%1,008,262$ 571,477$
A2531 Street Reconstruction DST 2,000 2,010,000$ 1,250,064$ -$ 1,250,064$ 62.19%654,623$ 105,312$
A2532 N Central Sidewalk & Curb DST 114 114,319$ 93,155$ -$ 93,155$ 81.49%-$ 21,164$
A2560 Sliplining SW 182 182,000$ 64,612$ -$ 64,612$ 35.50%-$ 117,388$
A2562 SW Vacuum Truck DST 485 485,000$ -$ -$ -$ 0.00%485,000$ -$
A2564 Canal Study DST 95 95,000$ 2,500$ -$ 2,500$ 2.63%-$ 92,500$
A2565 Schumann Drive Box Culvert DST 750 750,000$ -$ -$ -$ 0.00%-$ 750,000$
A2566 Stonecrop Upstream Drainage FEMA/DST 915/305 1,220,000$ -$ -$ -$ 0.00%-$ 1,220,000$
A2550 Design Terminal Apron Expansion FAA/FDOT/DST 218.5/5.8/5/8 230,000$ -$ -$ -$ 0.00%-$ 230,000$
A2551 Construct Taxiway Golf FDOT/DST 790.1/197.5 987,600$ -$ -$ -$ 0.00%-$ 987,600$
A2552 Protective Netting - Hangar D FDOT/AP 60/15 75,000$ 120$ -$ 120$ 0.16%40,387$ 34,493$
A2553 Airport Gate Security System FDOT/AP 28/7 35,000$ -$ -$ -$ 0.00%-$ 35,000$
10,015,467$ 2,175,877$ -$ 2,175,877$ 21.73%2,802,933$ 5,036,658$
GRAND TOTAL 25,979,922$ 5,691,277$ 3,806,617$ 9,497,894$ 36.56%7,581,402$ 8,900,626$
City of Sebastian CAPITAL PROJECT STATUS REPORT AS OF MARCH 31, 2025
Current Prior
Project Budget Share Project Year Year Expenditures Percent Funds
Number Description Budget Sources (in Thousands of $)Budget Expenditures Expenditures To Date Expended Encumbrances Remaining
FY2020
A2007 CDBG Grant Program CDBG 748.4 748,443 41,932 549,158 591,090 78.98%12,393 144,960
748,443$ 41,932$ 549,158$ 591,090$ 78.98%12,393$ 144,960$
FY2022
A2220 Working Waterfront- Submerged Land Lease CRA 50 50,000 - 8,550 8,550 17.10%- 41,450
A2221 BSSC Baseball Backstops RIF 75 75,000 21,417 5,000 26,417 35.22%500 48,083
A2230 Railroad Crossing Sidewalks LOGT/DST 100/90 190,000 130,683 18,246 148,929 78.38%- 41,071
A2231 Road Improvements ARPA 2 2,119,000 393,949 1,674,207 2,068,156 97.60%50,844 (0)
A2250 Construct (3) Square Hangars FDOT/DST 1,256/350 1,605,895 696,038 519,863 1,215,900 75.71%288,912 101,083
A2261 Concha Dam Replacement DST 700 700,000 53,210 - 53,210 7.60%13,995 632,795
A2264 Gardenia Ditch ARPA/DST 688/308.7 996,728 720 10,016 10,736 1.08%985,991 1
A2265 Schumann Drive Box Culvert ARPA/DST/SW 44/18.6/18.6 81,370 35,652 7,596 43,248 53.15%38,122 -
5,817,993$ 1,331,669$ 2,243,478$ 3,575,147$ 61.45%1,378,363$ 864,482$
FY2023
A2313 Hurricane Nicole FEMA 0 -$ 7,725$ 31,426$ 39,151$ 0.00%3,260$ (42,411)$
A2320 Swing/Bench Park CRA 59 59,300$ 5,110$ 14,390$ 19,500$ 32.88%4,800$ 35,000$
A2324 Riverview Area Improvements DST 74 73,591$ -$ 46,895$ 46,895$ 63.72%25,255$ 1,441$
A2327 Natural Landscaping/LID Demo GF 15 15,000$ 12,791$ 500$ 13,291$ 88.61%-$ 1,709$
A2328 Strategic Plan GF 75.3 75,361$ 18,123$ 46,361$ 64,484$ 85.57%11,000$ (123)$
A2353 Hangar D Office Improvements FDOT/DON 320/80 400,000$ 369,342$ 19,682$ 389,024$ 97.26%-$ 10,976$
A2364 Stonecrop Drainage Improvements FEMA/DST 2,293/746 3,038,287$ 272,331$ 205,884$ 478,216$ 15.74%2,463,376$ 96,696$
3,661,539$ 685,423$ 365,138$ 1,050,561$ 28.69%2,507,691$ 103,288$
FY2024
A2413 Sustainable Sebastian GF 10 10,000$ 26$ 491$ 517$ 5.17%-$ 9,483$
A2419 PD Vehicle Replacement GF 50.3 50,264$ 49,708$ -$ 49,708$ 98.89%-$ 556$
A2423 Working Waterfront Expansion FIND/CRA 60 / 60 120,000$ 19,410$ 38,174$ 57,584$ 47.99%62,416$ -$
A2425 N County Marine Law Enforcement Facility FIND/DON 50 / 50 100,000$ -$ -$ -$ 0.00%-$ 100,000$
A2426 Grant Admin - N County Marine Law Enf Facility DON/GF 10.4 / 39.7 50,120$ -$ 8,925$ 8,925$ 17.81%41,195$ -$
A2427 Riverview Park Improvements DST 2500 2,500,000$ -$ -$ -$ 0.00%-$ 2,500,000$
A2428 Riverview Park Master Plan GF 62.7 62,700$ 17,682$ 43,810$ 61,492$ 98.07%1,208$ -$
A2431 Street Reconstruction DST 1780 1,780,163$ 915,003$ 333,323$ 1,248,326$ 70.12%504,791$ 27,046$
A2434 Collier Creek Roadway Stabilization DST 166 166,029$ 60,174$ 40,100$ 100,274$ 60.40%15,300$ 50,455$
A2435 Driveways/Culverts - Phase 3 LOGT/DST 56.8/195.2 252,000$ 52,282$ 86,332$ 138,615$ 55.01%88,208$ 25,177$
A2436 Cemetery Building CTF 75.4 75,410$ 17,530$ -$ 17,530$ 23.25%57,880$ -$
A2452 AWOS System FDOT/DST 102.8/25.7 128,550$ 112,300$ -$ 112,300$ 87.36%16,250$ -$
A2453 Design Taxiway Golf FDOT/DST 172.4/43.1 215,500$ 71,234$ 97,687$ 168,922$ 78.39%42,398$ 4,180$
A2463 SW Facility Pump DST 80 80,000$ 50,056$ -$ 50,056$ 62.57%29,944$ -$
A2467 Majestic & Montrose Drainage DST 133.2 145,744$ 90,971$ -$ 90,971$ 62.42%20,432$ 34,341$
5,736,480$ 1,456,377$ 648,843$ 2,105,219$ 36.70%880,022$ 2,751,239$
City of Sebastian CAPITAL PROJECT STATUS REPORT AS OF MARCH 31, 2025
Current Prior
Project Budget Share Project Year Year Expenditures Percent Funds
Number Description Budget Sources (in Thousands of $)Budget Expenditures Expenditures To Date Expended Encumbrances Remaining
FY2025
A2500 Citywide Computers DST 35 35,000$ 6,665$ -$ 6,665$ 19.04%-$ 28,335$
A2501 COStv Equipment DST 15 15,000$ 9,348$ -$ 9,348$ 62.32%-$ 5,652$
A2502 Network Infrastructure DST 30 30,000$ 20,440$ -$ 20,440$ 68.13%-$ 9,560$
A2503 Security Cameras DST 27.8 27,762$ 578$ -$ 578$ 2.08%-$ 27,184$
A2504 City Hall Security Improvements DST 90 92,238$ -$ -$ -$ 0.00%92,238$ -$
A2505 PD Vehicles & Equipment DST 297 296,996$ -$ -$ -$ 0.00%293,311$ 3,685$
A2506 PD Vehicles/Body Cameras DST 101.6 101,559$ 48,836$ -$ 48,836$ 48.09%-$ 52,723$
A2507 CAD/RMS System DST 25 25,000$ -$ -$ -$ 0.00%-$ 25,000$
A2508 Hurricane Milton FEMA 0 -$ 297,674$ -$ 297,674$ 100.00%17,721$ (315,395)$
A2509 Air Conditioner Replacements DST 25 25,000$ 11,510$ -$ 11,510$ 46.04%-$ 13,490$
A2510 Police Patrol Boat FIND/DST 125/109.5 234,504$ 216,617$ -$ 216,617$ 92.37%2,391$ 15,496$
A2511 Stan Mayfield WW Restoration Phase 1 FIND/GF/CRA 100/50/50 200,000$ -$ -$ -$ 0.00%-$ 200,000$
A2512 Community Center Upgrades GF 37.5 37,500$ 7,650$ -$ 7,650$ 20.40%-$ 29,850$
A2513 JAG Grant - Monoculars JAG 12.7 12,750$ -$ -$ -$ 0.00%12,428$ 322$
A2520 Playgrounds RIF 60 60,000$ -$ -$ -$ 0.00%-$ 60,000$
A2521 Park Improvements RIF 20 20,000$ -$ -$ -$ 0.00%14,742$ 5,258$
A2522 CRA Maintenance Equipment CRA 123.5 123,500$ 32,335$ -$ 32,335$ 26.18%78,185$ 12,981$
A2523 Main Street Ramp Dredging FWC/CRA 50/50 100,000$ -$ -$ -$ 0.00%-$ 100,000$
A2524 Main Street Shoreline Stabliization FIND/CRA 50/50 100,000$ -$ -$ -$ 0.00%99,995$ 5$
A2525 Twin Piers Dry Line FIND/CRA 40/40 80,000$ -$ -$ -$ 0.00%-$ 80,000$
A2526 Working Waterfront Expansion FIND/CRA 250/250 500,000$ -$ -$ -$ 0.00%-$ 500,000$
A2527 Working Waterfront Dry Line FIND/CRA 25/25 50,000$ 32,850$ -$ 32,850$ 65.70%3,650$ 13,500$
A2528 Pedestrian Crossing Signs CRA 5 5,000$ 1,972$ -$ 1,972$ 39.44%-$ 3,028$
A2529 Bryant Ct Park Playground CONT 80 80,000$ 78,951$ -$ 78,951$ 98.69%-$ 1,049$
A2530 Street Preservation/Repaving LOGT 1,600 1,579,739$ -$ -$ -$ 0.00%1,008,262$ 571,477$
A2531 Street Reconstruction DST 2,000 2,010,000$ 1,250,064$ -$ 1,250,064$ 62.19%654,623$ 105,312$
A2532 N Central Sidewalk & Curb DST 114 114,319$ 93,155$ -$ 93,155$ 81.49%-$ 21,164$
A2560 Sliplining SW 182 182,000$ 64,612$ -$ 64,612$ 35.50%-$ 117,388$
A2562 SW Vacuum Truck DST 485 485,000$ -$ -$ -$ 0.00%485,000$ -$
A2564 Canal Study DST 95 95,000$ 2,500$ -$ 2,500$ 2.63%-$ 92,500$
A2565 Schumann Drive Box Culvert DST 750 750,000$ -$ -$ -$ 0.00%-$ 750,000$
A2566 Stonecrop Upstream Drainage FEMA/DST 915/305 1,220,000$ -$ -$ -$ 0.00%-$ 1,220,000$
A2550 Design Terminal Apron Expansion FAA/FDOT/DST 218.5/5.8/5/8 230,000$ -$ -$ -$ 0.00%-$ 230,000$
A2551 Construct Taxiway Golf FDOT/DST 790.1/197.5 987,600$ -$ -$ -$ 0.00%-$ 987,600$
A2552 Protective Netting - Hangar D FDOT/AP 60/15 75,000$ 120$ -$ 120$ 0.16%40,387$ 34,493$
A2553 Airport Gate Security System FDOT/AP 28/7 35,000$ -$ -$ -$ 0.00%-$ 35,000$
10,015,467$ 2,175,877$ -$ 2,175,877$ 21.73%2,802,933$ 5,036,658$
GRAND TOTAL 25,979,922$ 5,691,277$ 3,806,617$ 9,497,894$ 36.56%7,581,402$ 8,900,626$
2026 Budget and Capital Program
Presentation on Proposed 2026 Budget and
Tentative Millage
Budget Review Advisory Committee Meeting: Monday July 21, 2025
City Council Meeting to Approve Millage: Wednesday July 23, 2025
City Council First Hearing: Monday September 15, 2025
City Council Second Hearing: Monday September 24, 2025
Prepared By:
Brian Stewart
Chief Financial Officer
1
2026 Budget and Capital Program
Current Factors
Summary of General Fund Budget
Enterprise Special Revenue and
Other Funds
Capital Improvement Program
Property Values and Millage
Other Considerations
2
Current Factors
Economy
Consumer Price Index inflation up 2.4% for year
ending May 2025.
Interest remains high, Fed rate 4.25%-4.50%
⚫Causing housing value to decline
⚫Helps with Interest Revenue
Florida unemployment trending higher, up .04%
year-over-year in May 2025
Florida Housing Prices down 2% year-over-year
in May 2025, (-3.4% in Sebatian)
Sebastian Taxable Assessed Value up 8.4% for
FY26
Current Factors
Personnel
Health Insurance Premiums Projected
to Be Up by 7%.
Police and Supervisors Union
Negotiations ongoing.
Non-Union employees Pay Increases.
No new Positions.
New Retirement Plan.
General Fund Summary
General Fund Increases (Decreases)
$ 1,109,698 Personnel Costs1
13,669 Operating Expenditures2
(388,766) Capital Items and Projects
$ 734,691 3.8% Budget Increase
1 7.7% Increase due to pay.
2 0.3% Increase.
5
Draft FY2026 Enterprise Funds:
Golf Course
Draft is Showing a Revenue Excess of
$15,203.
⚫Revenues Are Projected Conservatively.
⚫$100,000 is Shown as a Repayment to
General Fund.
Same $30,000 for Restaurant Lease.
Airport Rent From $106,864 to $107,483.
$36,991 Principal and Interest on $700,000
Building Fund Loan.
6
Draft FY2026 Enterprise Funds:
Airport
Draft is showing revenue excess of $23,433
Property Rental Revenue Expected to Increase With Rental of
Hangar D.
Loans From Discretionary Sales Tax Fund:
⚫Hangar A $213,495 - $235,111 By 9/30/26.
⚫Hangar B $213,408 - $210,111 By 9/30/26.
Grant Matching From DST Fund:
⚫$50,000 for the design of the Taxiway Golf; $197,520 for the
Construction of Taxiway Golf; $27,750 for Construction of the
Terminal Apron Expansion; $50,000 for the design of the NW
Access for expansion.
⚫Over the Following Five Years, $1,010,000 for the matching on
the construction of Taxiway Golf; Runway 10/28 Rehab; Security
Fiber Network Upgrades; Construction of NW Access for
expansion; Design taxiway Alfa Rehab; Taxiway Bravo Rehab.
7
Draft FY2026 Enterprise Funds:
Building
Permit Revenue starting to level off.
Expecting $36,991 Principal and Interest
Payment on Golf Course Loans:
⚫$700,000 Loan Will Be $428,522 By 9/30/25.
⚫$559,684 Loan To Be Paid After the $700,000.
8
Draft FY2026 Special Revenue Funds
American Rescue Plan Act Fund (ARPA):
⚫Originally Allocated to Gardenia Ditch,
Schumann Drive, Concha Dam, Employee
Retention Payments and Road Work.
⚫Must Be Obligated by December 31, 2024
and Totally Spent by December 31. 2026.
⚫Improvement Projects Need Plans and
Permitting Which Require Some Time.
⚫Road work completed in FY25, Gardenia
Ditch and Schumann Drive Projects
ongoing.
9
Draft FY2026 Special Revenue Funds
Local Option Gas Tax:
⚫Projecting Collections at 1.0% Annual
Increases for Future Years.
⚫Being Used for All Road Preservation and
Associated Swale Work as Scheduled in
Current Paving Management Program.
⚫Funding Road condition assessment in
FY26
⚫Railroad Crossing Maintenance
10
Draft FY2026 Special Revenue Funds
Discretionary Sales Tax:
⚫Projecting Collections at 1.0% Annual
Increases for Future Years.
⚫Being Used for Road Reconstruction and
Associated Swale Work as Scheduled in
Current Paving Management Program.
⚫Also Funding: MIS Infrastructure, Police
Vehicles/Equipment, A/C Replacements, PD
Roof Repair/Replacement Work, Main Street
Boat Ramp Dredging, Vehicle and Equipment
Shelter at PW Compound, Major
Construction Vehicles/Equipment and
Matching Funds for FAA and FDOT Grants.11
Draft FY2026 Special Revenue Funds:
Riverfront CRA Fund:
⚫Operating Expenditures:
Audit Fees, Administration, Working
Waterfront Improvements, Other Facility
Maintenance, Submerged Land Leases,
Consulting Fees, Travel and Education Cost,
Legal Ads, State Fee, Association Dues and
Landfill Fee on Fisherman’s Landing.
Landscaping is Handled In-House
⚫Fisherman’s Landing and Working
Waterfront Projects Thru FY 26-27.
⚫Central Avenue Catalyst Site in FY 27-28.12
Draft FY2026 Special Revenue Funds:
Recreation Impact Fee Fund:
⚫Unspecified Improvements ($5K per Zone).
⚫$80,000 in playground Improvements
budgeted in FY26
⚫Projected 2026 Fund Balance is $207,787
Provided Revenue Estimates Hold True.
13
Draft FY2026 Special Revenue Funds:
Stormwater Utility Fund:
⚫Personnel and Operating Accounts are
exceeding the revenue from fees by
$160,773.
⚫Capital Includes:
Mini Excavator
Zero Turn Mower
Sliplining or Pipe Replacement.
14
Draft FY2026 Special Revenue Funds:
Law Enforcement Forfeiture Fund:
⚫Used Only for Unbudgeted Items.
⚫Specific Items Need City Council Approval.
⚫Current Balance is $53,582.
Parking In Lieu Of Fund:
⚫Used for Providing Additional Parking.
⚫Current Balance is $127,246.
15
Draft FY2026 Trust Fund
Cemetery Trust Fund:
⚫½ of Sales on Operations and Maintenance:
Reimbursing $150,000 to General Fund.
⚫½ of Sales Expendable on Expansions or
Cost Incidental to Adding Future Sites:
Funds Columbarium Niches in FY 26-27.
Replacing Admin Building in FY26
$660,000.
16
Capital Improvement Program
$47 Million Over 6 Years.
$12.9 Million Next Fiscal Year.
$4.1 Million Next Year Will Be Funded by
Grants, Which is 31.9%.
Largest Items for Next Fiscal Year:
⚫$ 3,547,500 Street Work
⚫ 1,110,000 Terminal Apron Expansion
⚫ 987,600 Taxiway Golf Construction
$ 5,645,100 Total of Largest Items
17
Property Values and Millage:
Certified Taxable Values
Total Certified Taxable Property Values
Increased $193,311,991 or 8.4% Above 2025.
⚫Additions Account for $58,569,929 or
2.55% of the Increase.
⚫Reassessments Were $134,742,062 or
5.86% of the Increase.
Rolled-Back is 3.0148. Proposed Millage is
3.5455 (Increase of .35 Mills from Prior Year).
To Use Rolled-Back Millage Would Require Using
$1,359,017 of Reserves.
18
Property Values and Millage:
Taxable Value Additions
Dollar Value of Tax Roll Additions:
2025 58,569,929 2020 33,685,698
2024 59,143,508 2019 23,351,814
2023 84,817,696 2018 15,998,366
2022 47,981,095 2017 35,951,704
2021 32,716,715 2016 25,763,700
19
Millage Rate Options
20
Net Tax Collection
Increase
(Decrease) from
Roll-Back
% Change
From Roll-
Back Rate
Increase
(Decrease) in GF
Reserves
Roll-Back Rate 3.0148 $7,271,550.51 $0.00 0.00%(1,359,017.58)
Draft Budget (PY) Rate 3.1955 $7,707,390.10 $435,839.58 5.99%(923,178.00)
3.3305 $8,033,003.51 $761,453.00 10.47%(597,564.59)
1/4 mill increase 3.4455 $8,310,377.90 $1,038,827.39 14.29%(320,190.20)
3.5455 $8,551,573.02 $1,280,022.51 17.60%(78,995.08)
3.5955 $8,672,170.58 $1,400,620.07 19.26%41,602.48
1/2 mill increase 3.6955 $8,913,365.70 $1,641,815.19 22.58%282,797.61
MILLAGE RATE OPTIONS
Property Values and Millage:
Millage impact on various Home Values
21
Millage With Homestead (3%)Without Homestead (8.4%)
Various Home values 350,000.00 400,000.00 450,000.00 350,000.00 400,000.00 450,000.00
2025 Tax Amount @ 3.1955 958.65 1,118.43 1,278.20 1,118.43 1,278.20 1,437.98
2026 Tax Options 2026 Increase (Decrease) over Roll-Back Rate
Rolled Back Rate 3.0148 (27.08) (31.59) (36.10) 25.39 29.02 32.64
Prior Year Rate 3.1955 28.76 33.55 38.35 93.95 107.37 120.79
Other Rate Options:3.3305 70.47 82.22 93.97 145.17 165.90 186.64
3.4455 106.01 123.68 141.35 188.80 215.77 242.74
3.5455 136.91 159.73 182.55 226.74 259.13 291.52
3.5955 152.36 177.75 203.15 245.71 280.81 315.91
3.6955 183.26 213.80 244.35 283.65 324.17 364.69
Millage Setting 20 Year History
At or Below Rolled-Back 11 Years - 55% of the Time
22
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Rolled-Back 3.051 3.212 3.364 3.803 3.901 3.731 3.564 3.739 3.544 3.629 3.670 3.493 3.151 2.939 2.809 3.004 2.683 2.627 2.985 3.014
Final 3.051 2.991 3.345 3.345 3.304 3.304 3.716 3.716 3.855 3.855 3.800 3.400 3.151 2.939 3.151 3.004 2.905 3.195 3.195 3.545
2.0000
2.2000
2.4000
2.6000
2.8000
3.0000
3.2000
3.4000
3.6000
3.8000
4.0000
Other Considerations
Property and Liability Insurance Costs Not Yet
Settled
Police and Supervisor Union Negotiations Still
Ongoing
Prices Continue to Increase But How Long Will
Current Economic Levels Continue? Unknown
Future Impact of Tariffs
Setting the Proposed Millage for the Trim Notices at
3.5455 Will Be Advertised as a 17.60% Tax Increase
Exceeding the Proposed Millage on the TRIM is
Expensive and Delays Budget Adoption
23
Conclusion
Staff Request You Recommend to
Council the Tentative Millage for Fiscal
Year 2026 at 3.5455.
24