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Home My WebLink About05152012BUD�a HOME OF PELICAN ISLAND 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. Apqroval 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 City 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 Quarterly 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 % to 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. Killgore did want to let the board know that with the financing it did extend the note 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 Meetinq 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 1 st 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 wilt 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 � 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. i �' . ✓ 1 Ci i n Budget Advisory Boar hairperson Signature � �, l� Date DATE DAY O1/10/12 03/13/12 03/28/12 04/02/12 04/13/12 04/19/12 OS/11/12 OS/15/12 OS/23/12 06/O1/12 06/04/12-06/08/12 06/12/12 06/15/12 06/18/12 06/26/12 07/02/12 07/11/12 07/12/12 07/16/12 07/17/12 07/18/12 08/02/12 08/08/12 08/14/12 08/20/12 08/22/12 09/OS/12 09 i ''__�..' 09/12/12 CITY OF SEBASTIAN FISCAL YEAR 2012-2013 BUDGET CALENDAR EVENT Tuesday Budget Review Advisory Board @6:OOpm — 4'h Quarterly Report ReviewBudget Calendar Review Tuesday Budget Review Advisory Board @6:OOpm — 1� Quarterly Report Review Wednesday City Council @6:30pm — 1$' Quarterly Report and Budget Calendar Approval Monday Departments receive instructions on Capital Improvement Program Friday Departments submit Capital lmprovements Program Request to Finance Director Thursday Budget Instruction Packets distributed to Department Directors Thursday Tuesday Wednesday Friday Monday - Monday Tuesday Friday Monday Tuesday Tuesday Wednesday Thursday Monday Tuesday Wednesday Departments submit Operating Budget Request to Finance Director Budget Review Advisory Board @6:OOpm — 2"d Quarterly Budget Report City Council @6:30pm — 2"d Quarterly Budget Report Review Estimate of Property Value received from Property Appraiser City Manager review with Departments on Budget and Capital Improvements Program Budget Review Advisory Board @6:OOpm — Budget Discussion City Manager's Budget Projections sent to Budget Review Advisory Board Form DR-420 Certified Taxable Values received from Property Appraiser Budget Review Advisory Board @6:OOpm — Review Recommended Budget Parks and Recreation Boazd — Discussion of Recreation Impact Fee Capital Improvements City Council @6:30pm — Final Report by Budget Review Advisory Board and Approval of Proposed Millage Form DR-420 Certification of Proposed Millage delivered to Property Appraiser Parks and Recreation Board — Final Discussion of Recreation Impact Fee Capital Improvements Budget Review Advisory Board @6:OOpm — Final Discussion on Report to City Council City Manager's Recommended Budget and Capital Improvements Document submitted to City Council City Manager's Recommended Capital Improvements Program submitted to P& Z Thursday Planning Board @7:OOpm — Approva] of Capital Improvements Program Wednesday City Council @6:30pm — Discussion of Capital Improvements Program Tuesday Budget Review Advisory Board @6:OOpm — 3`d Quarterly Report Review Monday City Council @5:30pm — Special Meeting/Workshop on Proposed Budget Wednesday City Council @630pm — 3`d Quarterly Report Approval Wednesday First Public Hearing on County Budget @S:Olpm Thursday Final Adoption of County School Board Budget @7:OOpm Wednesday Final Adoption of County Budget @S:Olpm 09/17/12 Monday City Council @5:30pm — Special Meeting for First Public Hearing on City Budget and Approval of Capital Improvements Program 09/22/12 Saturday Advertising of the Final Millage Rate and City Proposed Budget 09/26/12 Wednesday CRA Meeting @5:30pm — Special Meeting for Adoption of CRA Budget City Council @6:30pm — Regular Meeting and Final Public Hearing on City Budget 09/27/12 Thursday Resolutions Adopting Final Millage and Budget sent to Property Appraiser and Tax Collector 5/14/12 Revision