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HomeMy WebLinkAboutCity of Tamarac Ordinance O-2015-017Temp. Ord. #2327 September 24. 2015 Page 1 of 1 CITY OF TAMARAC, FLORIDA ORDINANCE NO. 0-2015-� 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 2016; 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 2016, 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 r. and, having made certain amendments thereto, approved a tentative budget on September 11, 2015; and WHEREAS, the City Commission authorized a final public hearing on September 24, 2015, at 5:05 p.m. at the Tamarac City Hall, 7525 N..W. 88th 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 City of Tamarac for the Fiscal Year 2016 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 proposed budget for Fiscal Year 2016 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 2016. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: Temp. Ord. #2327 September 24, 2015 Page 2 of 2 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. Section 2: That the City of Tamarac, Florida operating budget, revenues and expenditures, and the Capital Budget for the Fiscal Year 2016, 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, 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, are hereby adopted. A copy of the Financial Policies is attached hereto and incorporated herein by reference. Section 7: That all Ordinances or parts of Ordinances in conflict herewith are hereby repealed to the extent of such conflict. Temp. Ord. #2327 September 24, 2015 Page 3 of 3 -- 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. Section 9: That this Ordinance shall become effective immediately upon its passage and adoption. PASSED, FIRST READING, 11t' DAY OF September, 2015 PASSED, SECOND READING, ATT9T: r i �W;TPT PA'rk,MC CITY CLERK I HEREBY CERTIFY that I have approved this ORDINANCE as to form: ISUE S. O N CITY ATTORNEY 24°d DAY OF September, 2015. LC MAYOR HARRY DRESSLER RECORD OF COMMISSION VOTE: 1ST Reading MAYOR DRESSLER DIST 1: V/M. BUSHNELL —! DIST 2: COMM. GOMEZ DIST 3: COMM. GLASSER DIST 4: COMM. PLACKO RECORD OF COMMISSION VOTE: 2Nm MAYOR DRESSLER DIST 1: V/M. BUSHNELL DIST 2: COMM. GOMEZ DIST 3: COMM. GLASSER DIST 4: COMM. PLACKO CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2016 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2327 FY 2016 BUDGET ORDINANCE FUND TO 2326 General Fund Revenues Taxes $ 29,162,650 Licenses & Permits 4,967,041 Intergovernmental Revenue 8,142,672 Charges for Services 1,577,674 Fines & Forfeitures 2,117,813 Miscellaneous 1,100,385 Appropriation From Fund Balance 3,671,296 Other Sources ;,Total Fund Revenue 6,508,141 $ 57,247,672 General Expenditures City Commission $ 631,075 City Manager 1,770,882 City Attorney 590,580 City Clerk 550,742 Finance 2,823,255 Human Resources 1,276,360 Community Development 1,780,365 Police 16,311,484 Public Works 7,631,688 Parks & Recreation 4,718,824 Information Technology 2,478,368 Non -Departmental 16,684,049 Total General Fund Expenditures $ 57,247,672 Fire Rescue Fund Revenues Intergovernmental Revenue $ 49,000 Emergency Service Fees 1,938,190 Interest Income 31,480 Special Assessment 11,601,000 Interfund Transfers 5,977,733 Appropriation from Fund Balance 1,468,860 Other Sources Fire Rescue Fund Revenue 806,490 $ 21,872,753 Total Expenditures Personal Services $ 14,947,979 Operating Charges 1,399,755 Capital Outlay 2,196,399 Debt Service 412,373 Other Uses 2,545,309 Contingency 350,937 Reserves 20,001 Total Fire Rescue Fund Expenditures $ 21,872,753 Page 1 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2016 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2327 FY 2016 BUDGET ORDINANCE FUND TO 2326 Streetscape Improvement Fund Revenues Appropriation F• • Balance tal . 11 ToStreetscape Improvement Revenue $ 651,200 Expenditures Other Uses• 11 Total Streetscape Improvement Expenditures $ 651,200 Public Art Fund Revenues Charges for Service $ 150,000 Interest Income 4,000 Appropriation From Fund Balance 681,000 Total• • •0- Expenditures Operating Charges $ 85,000 Contingency 750,000 Total Public Art Fund Expenditures $ ••- Local Option Gas Tax 3-Cents Fund Revenues Taxes $ 373,500 Interest Income 2,000 Appropriation From Fund Balance 451,706 Total Local Option Gas Tax Revenue $ 827,206 Expenditures Operating Charges $ 576,400 Reserve 250,806 Total Local Option Gas Tax Expenditures $ 827,206 Building Fund Revenues Licenses & Permits $ 2,537,000 Charges for Services 12,000 Fines & Forfeitures 195,000 Interest Income 2,000 Appropriation From Fund Balance 289,400 Total Building Fund Revenues $ 3,035,400 Expenditures Personal Services $ 1,994,962 Operating Expenses Capital Outlay Other Uses Page 2 of 8 196,202 13,200 831,036 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2016 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2327 FY 2016 BUDGET ORDINANCE FUND TO 2326 RCMP Grant Fund Revenues Intergovernmental Revenue $ 194,000 Total RCMP Revenues $ 0•• Expenditures Personal Services 7,612 Operating Expenses $ 186,388 Total. • 00• Community Development Block Grant (CDBG) Fund Revenues Intergovernmental Revenue $ 366,236 D: Expenditures Personal Services $ 137,783 Operating Expenses 228,453 Total D- State Housing Initiative Program (SHIP) Fund Revenues Grant Revenues $ 293,709 Total0. Expenditures Personal Services $ 27,862 Other Uses 265,847 Total• . 0• Home (HUD) Fund Revenues Intergovernmental Revenue $ 70,794 Expenditures Personal Services $ 7,996 Operating Expenses 62,798 Total• • • Neighborhood Stabilization Program 3 (NSP3) Fund Revenues Miscellaneous $ 250,000 TotalRevenues•00 Expenditures Personal Services $ 20,874 Operating Expenses 229,126 • 0•• Total.- Page 3 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2016 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2327 FY 2016 BUDGET ORDINANCE FUND TO 2326 Affordable Housing Impact Fees Revenues Impact Fees $ 60.000 Expenditures Other Uses $ 60,000 Total Affordable Housing Impact Fees Fund Expenditures $ 60,000 General Obligation (GO) Debt Service Revenues Taxes $ •11 Total GO Debt Service Revenues $ 263,600 Expenditures Debt Service $ 263,601 Total GO Debt Service Expenditures $ 263,600 Revenue Bond Fund Revenues Interfund Transfers:11 Interest • - 3,000 Total Revenue Bond Fund Revenues $ 2,540,800 Expenditures Debt Service $ 2,540,800 Total Revenue Bond Fund Expenditures $ 2,540,800 Capital Equipment Fund Revenues Interfund Transfers $ 262,000 Appropriation From Fund Balance 128,000 Total Capital Equipment Fund Revenues $ 390,000 Expenditures Capital Outlay $ 153,000 Contingency 237,000 Total•ital Equipment Fund Expenditures $ 390,000 Capital Maintenance Fund Revenues Interfund 500,000 Total Capital Maintenance Fund $ 500,000 CapitalExpenditures Outlay $ 127,500 Contingency11 Total Golf Course CIP Fund Expenditures $ 500,000 Page 4 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2016 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2327 FY 2016 BUDGET ORDINANCE FUND TO 2326 General Capital Improvements Fund Taxes $ 600,000 Interfund Transfers 1,710,300 Appropriation From Fund Balance 420,745 ImprovementsTotal Gen. Capital 0, Expenditures Operating Expenditures $ 610,300 Capital Outlay 369,745 Other Uses 551,000 Contingency 1,200,000 Total Gen. Capital Improvement Expenditures $ 0, Corridor Improvement Fund Revenues Intergovernmental Revenue $ 532,697 Interfund Transfer 1,651,200 Expenditures Operating Expenditures $ 55,000 Capital Outlay 1,678,897 Contingency 450,000 CorridorTotal Public Service Facilities Fund Revenues Appropriation Fr• • Balance $ 1,249,000 Total Public Service Facilities Revenues $ 1,249,000 Expenditures • _ Uses $ 1,249,000 Total Public Service Facilities Expenditures $ 1,249700 rl CIP 05 Revenue Bond Fund Revenues Interfund Transfers $ 1,800,000 Debt Proceeds 2,000,000 Total ­CIP 05 Revenue Bond Fund Revenues $ 3,800,000 Expenditures CaoitalOutlav $ 3,800,000 Page 5 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2016 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2327 FY 2016 BUDGET ORDINANCE FUND TO 2326 Tamarac Village Fund Revenues TransfersInterfund • ,775 Total Tamarac Village Fund Revenues $ 779,775 Expenditures Operating Expenditures D-• - • 111 Total Tamarac Village Fund Expenditures $ 779,775 Stormwater Management Fund Stormwater Drainage Fees $ 5,355,516 Investment Income & Misc Rev 60,000 Interfund Transfers 349,036 Appropriation From Net Asset 44,062 Total Stormwater Management Revenues $ :0: ,614 Expenses Personal Services $ 1,724,210 Operating Expenses 2,195,825 Capital Outlay 146,000 Other Uses 886,684 Debt Service 403,000 Contingency 300,000 Reserves 152,895 Total Stormwater Management Expenditures $ :0: ,614 Stormwater Capital Project Revenues ::..: Total Stormwater Capital Project Fund Revenues $ 886,684 11 Expen .Capit•utlay :..: Total. Stormwater Capital Project Fund Expenditures $ 886,684 Utilities Fund Revenues Charges for Services $ 25,271,167 Interest Income 82,800 Miscellaneous 8,000 Appropriation From Net Asset 2,857,434 Total Utilities Fund Revenues $ 28,219,401 Page 6 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2016 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2327 FY 2016 BUDGET FUND ORDINANCE TO 2326 Expenses Personal Services $ 5,853,158 Operating Expenses 13,737,977 Capital Outlay 300,400 Other Uses 7,067,863 Debt Service 910,000 Contingency 250,000 Reserves 100,003 Total Utilities Fund Expenses $ 28,219,401 Utilities Renewal & Replacement (R&R) Fund Revenues Interfund Transfers $ 7,050,000 Appropriation From Net Asset 1,000,000 Total Utilities R&R Fund Revenues $ 8,050,000 Expenses Operating $ 250,000 Capital Outlay 7,800,000 Total Utilities R&R Fund Expenses $ 8,050,000 Colony West Golf Course Fund Revenues Charges for Services $ 2,372,689 Miscellaneous 263,460 Interfund Transfers 419,132 ColonyTotal Expenses Operating Expenses $ 2,422,587 Capital Outlay 278,715 Contingency 353,979 Total• •ny West Golf Course• Expenses Health Insurance Fund Revenues Charges for Services $ 4,892,900 Total Health Insurance Fund Revenues $ 4,892,900 Expenses Operating Expenses4,764,976 Contingency 127,924 Total Health Insurance Fund Expenses $ 4,892,900 Page 7 of 8 CITY OF TAMARAC, FLORIDA ATTACHMENT A FY 2016 BUDGET ATTACHMENT TO TEMPORARY ORDINANCE 2327 FY 2016 BUDGET FUND ORDINANCE TO 2326 Risk Management Fund Revenues Charges for Services $ 1,428,173 Interest Income 35,100 Miscellaneous 15,000 Appropriation from Net Assets 1,169,857 —13-0 Total Risk Management Fund Revenues $ 2,W-, Expenses Personal Services $ 387,499 Operating Expenses 2,010,631 Contingency 250,000 Total FY16 Budget $ 153,703,097 Page 8 of 8 Attachment B 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: 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. 1.1. Property taxes should be budgeted at 95% of the Property Appraiser's estimate as of July. 1.2. 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. 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 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. 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 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. Attachment B 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. FINANCIAL MANAGEMENT POLICIES Policy #4: The City shall maintain a minimum undesignated fund balance in the General Fund of 5% of annual expenditures, including Interfund 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/Designated: Disaster Reserve The disaster reserves are to be used in emergency situations and as a match for Federal Emergency Management Agency (FEMA) funds. Disaster Reserve $1,000,000 $1,000,000 $1,000,000 Reserves shall be used to fund emergency replacements and/or damaged equipment vehicles only as categorized below: 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 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 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. Attachment B Policy #7: The City will not fund ordinary recurring municipal services with temporary or nonrecurring revenue sources. FINANCIAL MANAGEMENT POLICIES Policy #8: 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 (100%): Enterprise Funds: • Water/Sewer • Stormwater Special Revenue Funds: • Building Fund 9.2 Moderate Fee Support (40 - 100%) 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 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. Policy #12: Attachment B 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. FINANCIAL MANAGEMENT POLICIES 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 program. The asset management 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 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 expenditure 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 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. Policy #17: The City will issue and comply with a comprehensive debt management policy. 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. Policy #21: 4 Attachment B 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 (NACSLB). Policy #23: The City shall annually seek the GFOA Certificate of Achievement for Excellence in Financial Reporting and the Distinguished Budget Presentation Award. FINANCIAL MANAGEMENT POLICIES 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.