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HomeMy WebLinkAbout06122012BUD AgendaCITIZENS BUDGET REVIEW ADVISORY BOARD AGENDA 6:00 P.M. TUESDAY — JUNE 12, 2012 CITY HALL 1225 MAIN STREET SEBASTIAN, FLORIDA 1. Call to Order 2. Pledge of Allegiance 3. Roll Call 4. Approvai of Minutes: A. Meeting of May 15, 2012 5. Board Discussion of Upcoming Budget — FY 2012/2013 A. Estimated Taxable Values B. City Manager's Budget Summary 6. Discussion/Questions by Committee Members 7. Adjourn Agenda Attachments: Minutes for Meeting of May 15, 2012 ANY PERSON WHO DECIDES TO APPEAL ANY DECISlON 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 DISABIUTIES ACT (ADA), ANYONE WHO NEEDS A SPECIAG ACCOMODATION FOR THIS MEETING SHOULD CONTACT THE CITY'S ADA COORDINATOR AT 589-533U AT LEAST 48 HOURS IN ADVANCE OF THIS MEETING. �� HOME OF PELICAN ISIAND CITIZENS BUDGET REVIEW ADVISORY BOARD MINUTES TUESDAY, MAY 15, 2012 - 6:00 P.M. City Council Chamber, 1225 Main Street, Sebastian Mr. Ed Herlihy called the meeting to order at 6:00 p.m. 2. The Pledge of Allegiance was recited. 3. ROLL CALL: Present: William Flaherty Ed Herlihy Harry Marshall Tim Slaven Christine Vicars Gary O'Hara Excused Absence: Dionna Farmer Staff and Council Present: AI Minner, City Manager Debbie Krueger, Administrative Services Director Ken Killgore, Finance Director Donna Cyr, Recording Secretary 4. Approval of Minutes: March 13, 2012 Regular meeting MOTION by Mr. Marshall and SECOND by Mr. O'Hara to approve the March 13, 2012 minutes as written, motion passed on a unanimous voice vote. 5. Comments bv Citv ManaQer: Mr. Minner let the board know that the Department Heads have been turning in their capital and operating requests to Administrative Services. On June 1st the initial report from the Property Appraisers office will be in and he'll be ready for the board to start working on the budget at the June 12th meeting. Mr. Minner did let the board know that he was cautiously optimistic where we stand right now with the budget. 6. Review Second Quarterlv Report — FY 2012: Mr. Killgore said the Budget appeared to be under control on the expense side and revenues are coming at about the same pace as last year. He said the financial comparison between actual and budget costs are at 49.7% extended. Mr. Killgore let the board know that the City refinanced the note on the Local Gas Tax fund from 4.1 %#o 1.94% which saves about $21,000 annually in our debt service payments out of the gas � tax service fund. Mr. Killgore wanted to state this is not free or new money available because we are seeing a decline in revenues received from the gas taxes. Investments are the same. There is a maturity at the end of the month. He has them laddered and isn't sure if they will be reinvested or if the cash needs to be more liquid. Budget Advisory Meeting May 15, 2012 Page Two Mr. Flaherty asked if there were flags in place to monitor if a project was on target or going over budget. Ms. Krueger stated all purchases are reviewed and each project has a spread sheet to help track spending. She said there are many eyes looking over each project daily & quarterly. Mr. Killgore said there is a one page sheet that goes out quarterly to Dept. Heads for them to report back on their projects. Also, all purchases and schedule changes go before the City Manager and if they are over a certain amount they are approved by Council. Mr. Marshall asked about refinancing the debt, will the $21,000 savings make up for the less gas tax that the City is receiving Mr. Killgore said it's a wash to the City and the disappointment is there are no future funds for road improvement type projects. Mr. Killgo�e did want to let the board know that with the financing it did extend the n�te one year but we were able to raise $175,000 to appropriate at this time to take care of immediate needs. Ms. Vicars asked about the telephone system. She said it appears that it went over funds and she didn't see an explanation or transfer of funds. Will there be a need to re- appropriate funds? Ms. Krueger said the project isn't closed yet, so there might be other expenditures. When the project is closed there is a project completion form that goes throughout the City and is signed off and the form goes to the accountants for any re- appropriation of funds. Mr. Herlihy asked if there were any problems that staff foresees for the rest of the year and Mr. Killgore said it was hard to tell. Mr. Killgore feels that franchise fees and utility taxes are the only trend that he sees will be a little short. On the spending side we will try to stay within the budget. MOTION by Mr. Flaherty and SECOND by Mr. Slaven to approve the Second Quarterly Report as submitted and recommended to Council, motion passed on a unanimous voice vote. 7. Discuss Next Meeting Date (Tuesdav. June 12. 2012): Mr. Herlihy reminded the board that the next meeting was June 12th. Mr. Minner asked if the members had a copy of the modified Budget Calendar. Ms. Krueger passed out a copy to the members (see attached). Mr. Minner said the next big date as far as budget preparation is June 1st where we will get the report from the Property Appraisers to see the assessed values. Then on June 12th will be an informative meeting for the new members to review the process and get a sneak peek of the budget. On June 15th the detailed budget will be sent out and at the June 26th meeting the Board will start picking it apart. The board will come up with the taxing recommendation and go over the DR-420 form. Mr. Minner explained that the DR-420 form comes from the Property Appraisers office, where the City has to forecast what the maximum millage rate will be so when the Property Appraisers office sends. out the TRIM (Truth In Millage) Notices there is an estimated millage rate so the public can review those numbers. Mr. Herlihy asked if the Board would prefer of sit on the floor during the June 12th meeting and the board agreed. Mr. Herlihy said he would take care of the arrangements. Budget Advisory Meeting May 15, 2012 Page Three 8. Discuss/Questions bv Committee Members: Mr. Minner said that he is proud of our long term forecasting and he is cautiously optimistic about next year's budget. He feels we are pretty close to last years numbers. He commends the Dept. Heads for their hard work on the budget. Mr. Minner did say that there were some unknowns, like the utility and franchise tax numbers. We still don't know where the property assessed values are and then there are the Health Care costs. The health care costs won't be set until mid-August, when we will be doing a full RFP. Mr. Flaherty asked Mr. Minner if there was anything in the air from the County regarding the property tax. Mr. Minner said he heard that the County felt they're looking at a 3% - 5% decrease. This would put the City at a 4% - 8% decrease and our projection was a 6% decrease which is why we are right on target. 9. Being no further business, Mr. Herlihy adjourned the meeting at 6:28 p.m. Citizen Budget Advisory Board Chairperson Signature Date