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HomeMy WebLinkAboutCity of Tamarac Ordinance O-2010-0201 Temp. Ord. #2210 August 31, 2010 Page 1 CITY OF TAMARAC, FLORIDA ORDINANCE NO. 0-2010-,W 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 POLICES FOR THE FISCAL YEAR 2011; REPEALING ALL ORDINANCES IN CONFLICT WITH THIS ORDINANCE; 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 2011, 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, adopted a tentative budget; and WHEREAS, the City Commission authorized Public Hearings for September 13, 2010, at 5:05 p.m. and September 22, 2010, at 5:05 p.m. at the Tamarac City Hall, 7525 N.. W. 88'" Avenue, Tamarac, Florida, 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 municipality for the Fiscal Year 2011 so that the business of the municipality 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 proposed budget for Fiscal Year 2011 be adopted; and Temp. Ord. #2210 August 31, 2010 Page 2 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 2011. 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. Sectlpn 2: That the City of Tamarac, Florida operating budget, revenues and expenditures, and the Capital Budget for the Fiscal Year 2011, 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 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, 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 Temp. Ord. #2210 August 31, 2010 Page 3 incorporated and appropriated in the budget by amendment, as required by law. action 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, are hereby adopted. A copy of the Financial Policies is attached hereto and incorporated herein by reference. 5.pction 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 of 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. 1 V Section 9: adoption. Temp. Ord. #2210 August 31, 2010 Page 4 That this Ordinance shall become effective immediately upon its passage and PASSED, FIRST READING, PASSED, SECOND READING, ATTEST: Z3 DAY OF September. 2010. DAY OF ,9aptember. 2010. 01 WA BETH • MAY6R AoVJ RECORD OF COMMISSION VOTE: 1st Reading PATPdCI'A TEUF191K MAYOR TALABISCO INTERIW CITY CDIST 1: COMM.BUSHNELL I HEREBY CERTIFY that I have approved this ORDINANCE as to form. ILI SAMUEL S. GOREN VIbITY ATTORNEY DIST 2: COMM. GOMEZ DIST 3: COMM. GLASSER DIST 4: VM. DRESSLER RECORD OF COMMISSION VOTE: 2nd Reading MAYOR TALABISCO ..� DIST 1: COMM. BUSHNELL DIST 2: COMM. GOMEZ DIST 3: COMM. GLASSER .� DIST 4: VM. DRESSLER 1 1 1 CITY OF TAMARAC. FLORIDA ATTACHMENT A FY 2011 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2210 ADOPTED FUND BUDGET General Fund R_gv,2ti tps Taxes $ 24,852,770 Licenses & Permits 4,600,000 Intergovernmental Revenue 6582,510 Charges for Services 1,396,400 Fine$ & Forfeitures 545,000 Miscellaneous 1,823.812 Other Sources 6,133,731 Tatar General Fund Revenue 5 44734,223 Expenditures City Commission $ 712.244 City Manager 1.636.891 City Attorney 495,670 City Clerk 559,056 Finance 2,531,691 Human Resources 903.008 Community Development 1,250,729 Police 11,854,750 Public Works 6,987,918 Parks & Recreation 3,672,696 Information Technology 1.278,632 Non -Departmental 12.850,939 Total General Fund Expenditures $ 44,734,223 Fire Rescue Fund Revenues intergovt Revenue $ 38.280 Emergency Service Fees 1,850,000 Fire Protection Services 194,000 Investment Income 17,000 Special Assessment 8,800.000 Miscellaneous Revenues 40,245 Operating Transfers in 5.385.603 Total Fire Rescue Fund Revenue $ 16,320,128 9.G&� Personal Services $ 12,921,648 Other Operating Charges 899,060 Other Uses 1.930,530 Contingency 565,090 Reserves &800 Total Fire Rescue Fund Expenditures $ 16 326 12e Drainage Retention Fund Revenues Miscellaneous Revenues $ 244,049 Total Drainage Retention Revenue $ 244,049 Expenditures Reserve $ 244,049 Total Drainage Retention Expenditures $ 244,049 Parks 8 Recreation Fund Revenues Miscellaneous Revenues $ 370,472 Total Parks & Roo Revenue $ $70,472 gUnndditurps Reserve $ 370,472 Total Parks & Roc Expenditures $ 370,472 Trafficwa s Improvement Fund Revenues Miscellaneous Revenues $ 1,029,741 Total Traffloways Improvement Revenue $ 1,029,741 Page 1 of 6 Pages CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2011 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2210 ADOPTED FUND BUDGET Ex a di u gs Reserve $ 1,029,741 Total Tratficways Improvement Expenditures $ 1,02$ 741 Public Art Fund Revonuas Charges for Service $ 50,000 Miscellaneous Revenues _ 1,60.2,586 Total. Public Art Fund Revenues $ 11652,688_ ExpendBRI91 Contingency $ 1.649.986 Reserve 2,600 Total Public Art Fund Expenditures $ 1,652,586 Local Option Gas Tax 3-Cent5 Fund Revenues Taxes $ 435,600 Total Local Option Gas Tax Revenue $ 436 600 Expenditures Reserve $ 435,600 Total Local Option Gas Tax Expenditures $', 415 601 Building Fund Rnues Licenses & Permits $ 1,805,000 Charges for Services 8,500 Fines & Forfeitures 40,000 Appropriated Fund Balance 323,654 Total Suliding Fund Revenues $ 2177 1s4 ExpendituLes Personal Services $ 1,610,044 Operating Expenses 180,580 Other Uses 386530 , Total Building Fund Expenditures S ,77L164 _ Grants Fund _.._ Revenues, Operating Transfers in $ 96,855 Total Grants Fund Revenue $ 96e5s Expenditure__s Capital Outlay $ 96,555 Total Grants Fund Expenditures 96,856 Community Development Block Grant (CDBG) Fund Revenues Grant Revenues $ 452,000 Miscellaneous 1,400 Total CDBG Revenues _$ 4631400 ExpenciftUM Personal Services $ 136,995 Operating Expenses 294.220 Other Uses 20,785 Reserves 1,400 Total CDBG Expenditures $ 463.400_ State Housing Initiative Program (SHIP) Fund Revenues Grant Revenues 5 10,608 Miscellaneous 6,500 Total SHIP Revenues 17,008 Page 2 of 5 Pages CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2011 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2210 ADOPTED FUND BUDGET Expenditures Personal Services $ 8,618 Other Uses 1.590 Reserves 6,500 Total SHIP Expenditures $ 17,008 Home (HUD) Fund Revenues _. Grant Revenues $ 126,0D0 Miscellaneous 15,200 Total Home Revenues $ 141,200 Ex enditure Operating Expenses $ 126.000 Reserves 15,200 Total Home Expenditures $ 141,200 CDBG Disaster Recovery Fund Revenues Miscellaneous $ 13,600 Total C08G Disaster Recovery Revenues $ 13,600 Expenditures Reserves $ 13,500 Total CDBG Disaster Recovery Expenditures $ 13,500 Neighborhood Stabilization (NSP) Grant Fund Revenues Miscellaneous $ 198,419 Total NSP Revenues $ 198,419 Expenditures Personal Services $ 125,462 Operating Expenses 57.841 Other Uses 15.116 Total NSP Expenditures $ 198;419 ARRA Fund Miscellaneous $ 20.800 Total ARRA Revenues $ 20,800 Expeadiiturps Reserves $ 201800 Total ARRA Expenditures $ 20,800 General Obligation (GO) Debt Service Taxes $ 231.820 Miscellaneous 22.580 Total GO Debt Service Revenues $ 264;400 Expenditures Debt Service $ 254,400 Total GO Debt Service Expenditures $ 254,400 _ Revenue Bond Fund Rgygnmog Miscellaneous $ 5.000 Operating Transfers In 2,572,300 Total Revenue Bond Fund Revenues $ 2 577 3p0 Expenditures Debt Service $ 2,577,300 Total Revenue Bond Fund Expenditures $ 2477,300 Page 3 of 5 Pages CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2011 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2210 ADOPTED FUND BUDGET General Capital Improvements Fund Revenues Local Government S 400,000 Invesment Income 150,000 Appropriated Fund Balance 1.596,855 Total Gan. Capital Improvements Revenues Expenditures Personal Services $ 1.950,000 Other Uses 196,055 Total Gen. Capital Improvements Expenditures $ 2 146 866 Public Service Facilities Fund Revenues Miscellaneous $ 25 000 Total Public Service Facilities Revenues $ 26,000 E_penditures Reserves $ 25,000 Total Public Service Facilities Expenditures $ T 26,000._ GIP 05 Revenue Bond Fund Revenues intergovernmental $ 82,560 Miscellaneous 20,000 Appropriated fund balance 417,560 Total CIP 06 Revenue Bond Fund Revenues "I _.......... W.. Expenditures Capital Outlay $ 600,120 Reserves 20.000 Total CIP 06 Revenue bond Fund Expenditures 5 620 120 Stortnwater Management Fund Revenues Stormwater Drainage Fees $ 4.03,790 Investment Income & Misr Rev 110,000 Appropriated Net Assets 627,399 Total Stormwater Management Revenues $ 6,691,189 Ewe Personal Services $ 1.469,757 Operating Expenses 1,991,670 Capital Outlay 1,752.000 Debt Service 403,400 Contingency 36,462 Reserves 37,700 Total Stormwater Management Expenses 3 _616911!189 Page 4 of 5 Pages CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2011 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2210 FUND ADOPTED BUDGET Utilities Fund Revenues Water Revenues $ 7,277,750 Sewer Revenues 12,214,100 Late Charges 500,000 Engineering Fees 460,900 Miscellaneous 8,000 Investment income 155,000 Appropriated Net Assets 163,600 Total UtillUes Fund Revenues $ 20,759,360 Expenses Personal Services $ 5,583.268 Operating Expenses 11,650,440 Capital Outlay 1,496.500 Debt Service 899.400 Contingency 971.142 Reserves 158.600 Total Utilities Fund Expanses 520,7691360 Risk Management Fund Revenues Charges for Services $ 1,501.109 Investment Income 90.000 Miscellaneous 677,903 Total Risk Management Fund Revenues $ 2,169,012 Expenses Personal Services $ 355,398 Operating Expenses 1.803.614 Total Risk Management Fund Expenses $ _ 2,169,012 Total FYI Budget $ 102,063361 Page 5 of 5 Pages ATTACHMENT B City of Tamarac, Florida 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. Element # 4 of Principal # 2, "Adopt Financial Policies" addresses the need for jurisdictions to establish policies to help frame resource allocation decisions. As such, following are recommended financial management policies developed within the guidelines of the (NACSLB) with the associated measurable benchmarks (use word to describe that it can be measured) for adoption by the City Commission. OPERATING MANAGEMENT Policy #1: Revenue estimates for annual budget purposes should be conservative. In this light, General Fund revenues should be budgeted in the manner delineated below. A. Property taxes should be budgeted at 95% of the Property Appraiser's estimate as of July B. State shared revenues should be budgeted at 95% of the State Department of Revenue estimate, This includes the Communication Services Tax, Half -cent Sales Tax and State Revenue Sharing. C. Franchise fee revenue should be budgeted at 95% of the maximum estimate prepared by Financial Services Department. D. Public Service Taxes on Electric, Propane and Natural Gas should be budgeted at 95% of the maximum estimate prepared by the Financial Services Department. 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. A. 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 funds designated as core funds 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. B. 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. Policy #4: 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. Pursuant to the City of Tamarac's Charter, Section 7.03, The city may maintain an un-appropriated surplus of no more than ten (1 Q) percent of its total proposed expenditures of the general fund budget. ATTACH MENT B FINANCIAL MANAGEMENT POLICIES (continued) Reserved/Designated: Disaster Reserve $1,000,000 FY 2011 $1,000,000 FY 2012 $1,000,000 FY 2013 The disaster reserves are to be used in emergency situations and as a match for Federal Emergency Management Agency (FEMA) funds. Capital Vehicles and Equipment $500,000 FY 2011 $500,000 FY 2012 $500,000 FY 2013 Reserves shall be used to fund emergency replacements and/damaged equipment vehicles only. Capital Vehicles and Equipment Sinking Fund for Normal Vehicle and Equipment Replacement $1,000,000 FY 2011 $1,000,000 FY 2012 $1,000.000 FY 2013 Sinking fund shall be used for normal vehicle and equipment replacements. Facilities Maintenance $400,000 FY 2011 $400,000 FY 2012 $400,000 FY 2013 Land Acquisition $3,000,000 FY 2011 $3,000,000 FY 2012 $3,000,000 FY 2013 Economic Development $500,000 FY 2011 $500,000 FY 2012 $500,000 FY 2013 Economic Stabilization $3,000,000 FY 2011 $3,000,000 FY 2012 $3,000,000 FY 2013 Technology Replacement $800,000 FY 2011 $800,000 FY 2012 $800.000 FY 2013 After all general fund minimum reserve balances have been met excess undesignated reserves may be set aside to provide additional funding in any designated reserve. Water & Sewer: A. An operating reserve balance at least equal to 25% of the cost of operation and maintenance in the annual budget for the then current fiscal year. B, 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. C. An annual transfer to the Renewal and Replacement Fund equal to 5% of the prior fiscal year's gross revenues (not cumulative). 2 ATTACHMENT B FINANCIAL MANAGEMENT POLICIES (continued) D. After deposit, surplus Renewal and Replacement funds above the Renewal and Replacement Fund Requirement are available to fund capital projects and these funds are used for this purpose in each year. Stormwater: A. 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 fund for workers' compensation and property/liability and ensure adequate resources are available to support the value of incurred but not reported (IBNR) claims. 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 #8: Actual indirect costs associated with the operations of all funds other than the general fund will be identified and accounted against the operations of those funds and be reimbursed to the general fund. Policy #9: All fee schedules and user charges should be annually reviewed 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: A. Total Fee Support (100%) Enterprise Funds: Water/Sewer Stormwater Special Revenue Funds: Building Fund B. Moderate Fee Support (40 - 100%) General Fund Planning Zoning C. 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 minimized 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. ATTACHMENT B FINANCIAL MANAGEMENT POLICIES (continued) 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 be restricted to those funds provided through the Community Development Block Grant (C,D.B.G) 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 improvements program. The asset improvements program will identify the source of funding for all projects, as well as the impact on future operating costs. Policy #16: Every appropriation, except an appropriation for a capital improvement expenditure, 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 expenditure 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 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 unless extended by action of the City Commission. DEBT MANAGEMENT Policy #17: The City will issue and comply with a comprehensive debt management policy, INYESTMENT MANAgEMENT Policy #18: The City will issue and comply with a comprehensive investment management policy. A O NTS MANA EMENT AND FINAN IAL PLANNIN 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. Policy #21: Financial systems shall be maintained in a manner that provides for the timely monitoring of expenditures, revenues, performance and receivables/billing status on an ongoing basis. Policy #22: Forecasting of revenues and expenditures for major funds shall be accomplished in conjunction with the development of the annual operating budget in accordance with recommended practices of the National Advisory Council on State and Local Budgeting (NACSLS). Policy #23: The City shall annually seek the GFOA Certificate of Achievement for Excellence in Financial Reporting and the Distinguished Budget Presentation Award. Policy #24: The City should diversify and expand its economic base in order to relieve the homeowner from the most significant share of the tax burden and to protect the community against economic downturns. This effort should include the attraction of new businesses, retaining existing businesses; enticement of new residents, and tourism. Policy #25: The City should encourage economic development initiatives that provide growth in the tax base and employment for City residents as a first priority and in the County and region as a second priority.