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HomeMy WebLinkAboutCity of Tamarac Ordinance O-2021-031Temp. Ord. #2481 September 28, 2021 Page 1 of 3 CITY OF TAMARAC, FLORIDA ORDINANCE NO. 0-2021- S i AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, ADOPTING THE OPERATING BUDGET, REVENUES AND EXPENDITURES, THE CAPITAL BUDGET, AND THE FINANCIAL POLICIES FOR THE FISCAL YEAR 2022; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Manager of the City of Tamarac, Florida, has presented to the City Commission the proposed operating budget, revenues and expenditures and capital budget as estimated for the Fiscal Year 2022, all as required by Section 7.02 of the Charter of the City; and WHEREAS, the City Commission in duly called public meetings, reviewed the budget and, having made certain amendments thereto, approved a tentative budget on September 13, 2021; and WHEREAS, the City Commission authorized a final public hearing on September 28, 2021, at 5:05 p.m., attended through electronic media by following the instructions at https://www.tamarac.org/meetings, and has caused notice of same to be published in a newspaper of general circulation in the City of Tamarac according to law; and WHEREAS, the City Commission has determined the amount of money which must be raised to conduct the affairs of the City of Tamarac for the Fiscal Year 2022 so that the business of the city may be conducted on a balanced budget, and has also determined the amount necessary to be raised by ad valorem taxes upon all of the property, real and personal, within the corporate limits of the City of Tamarac; and WHEREAS, the City Manager recommends the tentative budget for Fiscal Year 2022 be adopted; and WHEREAS, the City Commission of the City of Tamarac deems it to be in the best interest of the citizens and residents of the City of Tamarac to approve the budget for Fiscal Year 2022. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: Section 1: That the foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this ordinance. Temp. Ord. #2481 September 28, 2021 Page 2 of 3 Section 2: That the City of Tamarac, Florida operating budget, revenues and expenditures, and the Capital Budget for the Fiscal Year 2022, as provided for in Attachment A, and by this reference made a part thereof, be and the same is hereby adopted. If at any time during the fiscal year it appears probable that the revenues available will be insufficient to meet the amount appropriated, the City Commission shall then take such further action as necessary to prevent or minimize any deficit and for that purpose it may by ordinance reduce one or more appropriations. No appropriation for debt service may be reduced or transferred, no appropriation may be reduced by any amount required by law to be appropriated or by more than the amount of the unencumbered balance thereof. Section 3: That the City Manager, in accordance with Section 7.10(d) of the City Charter, is authorized to make transfers within departments, and with the approval of the City Commission, transfer funds between departments and between funds, as is permitted by law. Section 4: That when the City of Tamarac receives monies from any source, be it private or governmental, by Grant, gift, or otherwise, to which there is attached as a condition of acceptance, or any limitation regarding the use of or expenditure of the monies received, the funds so received shall be accepted by the City Commission and incorporated and appropriated in the budget by amendment, as required by law. Section 5: That every appropriation, except an appropriation for a multi -year capital improvement or multi -year grant program, shall lapse at the close of the fiscal year to the extent that it has not been expended or encumbered. An appropriation for a multi -year capital improvement or multi -year grant program shall continue in force until the purpose for which it was made has been accomplished or abandoned; the purpose of any such appropriation shall be deemed abandoned if three (3) years pass without any disbursement from or encumbrance of the appropriation. Section 6: That the Financial Policies, as provided for in Attachment B, which are attached hereto and incorporated herein by reference, are hereby adopted. Section 7: That all Ordinances or parts of Ordinances in conflict herewith are hereby repealed to the extent of such conflict. Section 8: That if any provision of this Ordinance or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this ordinance than can be given affect without the invalid provision or application, and to this end the provisions of this Ordinance are declared to be severable. Temp. Ord. #2481 September 28, 2021 Page 3 of 3 Section 9: That this Ordinance shall become effective immediately upon its passage and adoption. PASSED, FIRST READING, 13th DAY OF September 2021. PASSED, SECOND READING, 28th DAY OF September 2021. ATTEST: NNIF O SOl�,r CITY CLERK I HEREBY CERTIFY that I have approved this BY: Atuff J. (/IV ---- MICHELLEJ. GOMEZ, MtYOR RECORD OF COMMISSION VOTE: 1ST Reading MAYOR GOMEZ DIST 1: COMM. BOLTON DIST 2: COMM. GELIN DIST 3: V/M. VILLALOBOS� DIST 4: COMM. PLACKO RECORD OF COMMISSION VOTE: 21'�D Reading MAYOR GOMEZ 06--S DIST 1: COMM. BOLTON ") DIST 2: COMM. GELIN DIST 3: V/M. VILLALOBOSLj E'5 DIST 4: COMM. PLACKO CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE #2481 FY 2022 BUDGET ORDINANCE FUND TO #2481 Charges for Services $ 7,099,223 Interest Income 5,455 Interfund Transfers - AP_= Expenses Operating Expenses $ 6,627,475 Contingency 477,203 Reserves Revenues Charges for Services $ 1,755,751 Interest Income 89,770 Miscellaneous 15,000 Appropriation from Net Assets 1,458,010 Expenses Personal Services $ 666,782 Operating Expenses 2,401,749 Other Uses - Contingency 250,000 TOTAL FY 2022 BUDGET $ 220,979,425 Page 8 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE #2481 FY 2022 BUDGET ORDINANCE FUND TO #2481 Revenues Charges for Services $ 28,934,113 Interest Income 189,645 Miscellaneous 4,000 Appropriation From Net Asset 22,931,161 Expenses Personal Services $ 5,976,164 Operating Expenses 17,259,856 Capital Outlay 1,505,843 Other Uses 25,800,228 Debt Service 1,369,960 Contingency 46,868 Reserves 100,000 Revenues Interfund Transfers $ 25,780,500 25,790,500 Expenses Revenues Charges for Services $ 3,142,118 Interfund Transfers 164,917 Interest Income 38,254 Appropriation from Fund Bal - Expenses Operating Expenses $ 2,766,694 Capital Outlay 109,000 Contingency 469,595 Total Colony West Goff Course I~uni! E Page 7 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE #2481 FY 2022 BUDGET ORDINANCE FUND TO #2481 Revenues Interfund Transfers $ - Appropriation From Fund Balance 478,000 KIM.Expenditures Operating Expenses $ - Stormwater Drainage Fees $ 6,443,659 Investment Income & Misc Rev 86,400 Interfund Transfers 385,451 Appropriation From Net Asset - . ,915.510 Expenses Personal Services $ 2,205,497 Operating Expenses 2,564,831 Capital Outlay 233,566 Debt Service 402,450 Other Uses 400,000 Contingency 959,166 Reserves 15n nnn Revenues Interfund Transfers $ 400,000 400,000 Expenses Capital Outlay $ 400,000 400,000 Page 6 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE #2481 FY 2022 BUDGET ORDINANCE FUND TO #2481 Revenues Interfund Transfers $ 1,004,800 1,004,800 Expenditures Revenues Impact Fees $ - Interfund Transfers - Appropriation From Fund Balance - Expenditures Capital Outlay $ - Reserves - Taxes $ 900,000 Federal Grant State Grant Interfund Transfers 2,189,108 Appropriation From Fund Balance - $ 3,089,108 Expenditures Operating Expenditures $ 200,000 Capital Outlay 2,889,108 Interfund Transfer Appropriation From Fund Balance TI j�mound Revenues - Expenditures Operating Expenditures Capital Outlay Reserves Total Corridor Improvement Fug Expenditures Page 5of8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2022 BU DG ET ATTACHMENT TO TEMPORARY ORDINANCE #2481 FY 2022 BUDGET ORDINANCE FUND TO #2481 Revenues Miscellaneous $ 150,000 000 Expenditures Personal Services $ - Revenues Impact Fees $ 60,000 Appropriation From Fund Balance 165,000 Expenditures Other Uses $ 225,000 Interfund Transfers $ 4,047,279 Interest Income 23,010 Expenditures Debt Service S 4 070 ?89 Interfund Transfers $ 1,489,551 Intergovernmental Revenue - Interest Income - Appropriation From Fund Balance - Expenditures Capital Outlay Contingency Total Capital 1 Page 4 of 8 $ 1,489,551 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE #2481 FY 2022 BUDGET ORDINANCE FUND TO #2481 Revenues Licenses & Permits $ 2,723,560 Charges for Services 15,575 Fines & Forfeitures 200,000 Miscellaneous 100,000 Interest Income 55,000 Appropriation From Fund Balance 633,178 Expenditures Personal Services $ 2,703,425 Operating Expenses 229,080 Capital Outlay - Other Uses 775,078 Reserves 19,730 Revenues Intergovernmental Revenue $ 392,687 Expenditures Personal Services $ 116,386 Revenues Grant Revenues $ 436,696 Expenditures Personal Services $ 22,861 Operating Expenses 413,835 Other Uses - Revenues Intergovernmental Revenue Expenditures z Personal Services Operating Expenses TcftI Home Expenditures Page 3 of 8 $ 114,584 22,782 91,802 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE #2481 FY 2022 BUDGET ORDINANCE FUND TO #2481 Revenues Charges for Service $ 250,000 Interest Income 6,000 Appropriation From Fund Balance 310,000 Expenditures Operating Expenses $ 100,000 Capital Outlay - Revenues Taxes $ 375,429 Interest Income 3,152 Appropriation From Fund Balance 1,217,886 MIN Expenditures Operating Expenses $ 50,000 Reserve 1 .ri4Fi 4F7 Intergovemmental Revenue $ 7,290,024 •0 ,024 Expenditures Capital Outlay $ 7,290,024 •0 Page 2 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE #2481 FY 2022 BUDGET ORDINANCE FUND TO #2481 Taxes $ 41,623,114 Licenses & Permits 5,047,446 Intergovernmental Revenue 9,330,373 Charges for Services 1,265,615 Fines & Forfeitures 530,991 Miscellaneous 1,664,252 Appropriation From Fund Balance 4,576,491 Other Sources 7,350,519 Expenditures City Commission $ 1,257,701 City Manager 2,758,890 City Attorney 740,400 City Clerk 748,944 Finance 3,650,751 Human Resources 1,620,752 Community Development 2,307,912 Police 18, 365, 799 Public Works 10,189,862 Parks & Recreation 6,329,055 Information Technology 3,405,874 Revenues Intergovernmental Revenue $ 56,951 Emergency Service Fees 2,135,856 Fire Inspection / Safety Fees 387,439 Special Assessment 13,321,081 Interfund Transfers 6,785,351 Miscellaneous 80,719 Appropriation from Fund Balance 3,269,281 Expenditures Personal Services $ 20,064,674 Operating Charges 1,740,360 Capital Outlay 121,500 Debt Service - Other Uses 3,890,144 Contingency 200,000 Reserves 20,000 Total Fire Rescue Fund Expenditures 7 $ 26,036,678 Page 1 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2481 FINANCIAL MANAGEMENT POLICIES The National Advisory Council on State and Local Budgeting (NACSLB) developed a comprehensive set of recommended budget practices that has been endorsed by the Government Finance Officers Association, ICMA, academia, etc. These recommended practices provide a framework for the budget process encompassing a broad scope of governmental planning and decision -making with regard to the use of resources. NACSLB Principal 2, Element 4, "Adopt Financial Policies" addresses the need for jurisdictions to establish policies to help frame resource allocation decisions. As such, the following are five categories of recommended financial management policies developed within these guidelines with the associated measurable benchmarks for adoption by the City Commission. The five categories are Operating Management, Debt Management, Investment Management, Account Management and Financial Planning & Economic Resources and are detailed below: OPERATING MANAGEMENT Policy #1: Revenue estimates for annual budget purposes should be. In this light, General Fund. revenues should be budgeted in the manner delineated below. 1.1. Property taxes should be budgeted at 95% of the Property Appraiser's estimate as of 3uly. 1-1 State shared revenues should be budgeted at 95°/, of the State Department of Revenue estimate. This includes the Communication Services Tax, Ralf -cent Sales Tax and State Revenue Sharing, 1.3. Franchise fee revenue should be budgeted at 95% of the maximum estimate prepared by Financial Services Department. 1.4. Public Service Taxes on Electric, Propane and Natural. Gas should be budgeted at 95% of the maximatm estimate prepared by the Financial Services Dent Policy #2: The annual budget should be maintained in such a manner as to avoid an operating fund deficit The annual budget should show fiscal restraint Expenditures should be managed to create a positive cash balance (surplus) in each fund at the end of the fiscal year. Policy #3: The City should maintain a prudent cash management and investment program in order to meet daily cash requirements, increase the amount available for investment, and earn the maximum rate of return on invested funds commensurate with appropriate security. The City will use the following performance benchmarks for its investment portfolio. 3.1. The Bank of America Merrill Lynch 1-3 Year US Treasury & Agency Index which is a subset of The Bank of America Merrill Lynch US Treasury & Agency Index including all securities with a remaining term to final maturity less than 3 years, will be used as a benchmark for the performance of finds designated as core finds and other non -operating funds that have a longer term investment horizon. The index will be used as a benchmark to be compared to the portfolio's total rate of return. 3.2. The S & P rated LGIP Index/All will be used as a benchmark as compared to the portfolio's net book value rate of return for current operating funds. CITY OF TAMARAC, FLORIDA ATTACHMENT B FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2481 FINANCIAL MANAGEMENT POLICIES Policy #4: The City shall maintain a minimum undesignated fiord balance in the General Fund equal to the greater of 16.67% or 2 months annual expenditures, including hsterfimd transfers out. Reserve funds shall not be used to fund recurring expenditures. Fund balances should be maintained at fiscally sound levels in all funds_ Such levels are delineated below. Reserved/DesignatedL Economic Development Reserve The designated Economic Development Reserve shall be established with one time initial funding of $5,000,000. The designated Economic Development Reserve will function as a revolving reserve account, where as initial funding is draw down it will only be replenished through future recovery or recapture stemming from directly related Economic Development projects or activities. Reserve Disaster Reserve The disasterreseavw are to be used in emergency situations and as a match for Federal Emergency Management Agency (FEI)'fimtis. Reserves shall be used to ftad emergency rephicements and/or damaged equipment vehicles only as categorized below: After all general fimd minimum reserve balances have been met; excess undesignated reserves may be set aside to provide additional finding in any designated reserve. Water & Sewer Fund: ® An operating reserve balance of three months of operating and maintenance expenses or a minimum of $5,000,000. ® Any surplus revenue in excess of this operating reserve minimum balance target is utilized to pay for all or a portion of the cost of capital projects. Stormwater Fund: ® A working capital reserve of 10% of annual revenues shall be budgeted in the annual budget for the then current fiscal year. This amount is not cumulative. Policy #5: The City shall maintain adequate protection from loss due to property damage or liabilities of the City. The City shall maintain a risk fiord for workers' compensation and property/liability and ensure adequate resources are available to support the value of incurred but not reported (IBNR) claims. CITY OF TAMARAC, FLORIDA ATTACHMENT B FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2481 FINANCIAL MANAGEMENT POLICIES Policy #6: The City will not commit itself to the full extent of its taxing authority. Policy #7: The City will not fund ordinary recurring municipal services with temporary or nonrecurring revenue sources. Policy #g: The City will maintain a cost allocation process by which the General Fund is reimbursed for actual indirect costs associated with providing services to other operating funds. Policy #9: All fee schedules and user charges should be reviewed annually for adjustment to ensure that rates are equitable and cover the total cost of the service or that portion of the total cost established by policy of the Tamarac City Commission. The following framework is recommended by the administration to be applied to user fees: 9.1 Total Fee Support (1001/6): Enterprise Funds: • Water/Sewer • Stormwater Special Revenue Funds: • Building Fund 9.2 Moderate Fee Support (40-100%0) General Fund: Planning Zoning 9.3 Parks & Recreation — Fees shall be established in accordance with Administrative Policy 04-03. Parks & Recreation Fees shall be adjusted annually to maintain, at a minimum, the same percentage of cost recovery as in the prior year. Policy #10: Payment in Lieu of Taxes shall be charged to the Utilities and Stormwater funds at the rate of 6% of revenue for the purpose of recovering the costs associated with administering the use of, maintenance of, and ensuring the safe use of its streets, rights -of -way and public owned properties used by the utilities and storm water funds in providing and furnishing services to its customers. Policy #11: The financial burden on the City's taxpayers must be minimised through systematic annual program reviews and evaluation aimed at improving the efficiency and effectiveness of City programs. As such, the annual budget will be based on a City-wide work program of goals, implemented by departmental goals and objectives. CITY OF TAMARAC, FLORIDA ATTACHMENT B FY 2022 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2481 FINANCIAL MANAGEMENT POLICIES Policy #12: The City's role in social service funding should be supplemental (addressing special or unique local needs) to the basic responsibilities of regional agencies. Funding shall first be derived from those funds provided through the Community Development Block Grant ("CDBG") program. Policy #13: City management is responsible for recovery of budgeted and non -ad valorem revenues as planned for in the budget. Management shall maintain adequate billing and claiming processes in order to effectively manage their accounts receivable systems in conformance with the fiscal plan and sound business principles. Policy #14: The City will annually review the Capital Improvements Element of the Comprehensive Plan to ensure that required fiscal resources will be available to provide the public facilities needed to support the adopted level of service standards. Policy #15: The City will annually prepare a six --year asset management progrm . The asset management program will identify the source of fig for all projects, as well as the impact on future operating costs. Policy #16: Every appropr afian, except an appropriation for capital improvement expenditures and multi -year grants, shall lapse at the close of the fiscal year to the extent that it has not been expended or encumbered. An appropriation for a capital improvement ewe and a multi -year grant shall continue in force, i_e_ not be required to be re - budgeted, until the purpose for which it was made has been accomplished or abed, the purpose of any such appropriation shall be deemed abandoned if three (3) years pass without any dot from or encumbrance of the appropriation unless extended by action of the City Commission. DEBT MANAGEMENT Policy #17: The City will issue and comply with a comprehensive debt management policy. INVESTMENT MANAGEMENT Policy #18: The City will issue and comply with a comprehensive investment management policy. ACCOUNTS MANAGEMENT AND FINANCIAL PLANNING Policy #19: Accounting systems shall be maintained in order to facilitate financial reporting in conformance with generally accepted accounting principles of the United States. Policy #20: An annual financial audit shall be prepared in conformance with Florida state law.