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Budget Workshop Presentation5/24/2018 1 FY 2019 Budget Development Update FY 2018 Adopted Program Budget Activity‐Based Budget Developed in response to the City Commission’s feedback regarding greater transparency and understanding of the existing programs and services currently included in the City’s budget 2 5/24/2018 2 Transition to Program Budgeting Break out department budgets by programs and service levels More user friendly for elected officials and citizens Focus policy on funding of desired levels of service 3 High Medium Low High Medium Low Program “A”Program “B” Enhancements / Reductions Adding resources results in higher service level Reducing resources results in lower service level 4 5/24/2018 3 Six Year Summary of Enhancements & Reductions Provides background information to be considered in balancing the FY 2019 budget 5 Types of Funds •General Fund •Enterprise Funds •Internal Service Funds •G. O. Debt Service Funds •Redevelopment Agency (RDA) •Resort Tax Fund •Special Revenue Funds 6 5/24/2018 4 FY 2018 Budget Overview GENERAL FUND $ 330.8M Building Budget & Performance Improv. (OBPI) Capital Improvement Projects (CIP) City Attorney City Manager City Clerk Code Compliance Communications Economic Development Emergency Management Finance G.O. DEBT SERVICE FUND $ 5.9M ENTERPRISE FUNDS $ 208.9M Convention Center Parking Department Water Operations Sewer Operations Stormwater Sanitation Fire Human Resources/Labor Relations Mayor and Commission Organization Development & Perf. Initiatives Planning Parks & Recreation Public Works Operations Police Procurement Tourism, Cultural, & Economic Development Citywide Accounts 7 FY 2018 Budget Overview REDEVELOPMENT AGENCY (RDA) $ 27.5M City Center-CMB TIF only INTERNAL SERVICE FUNDS $ 86.0 M Information Technology Risk Management Central Services Property Management Fleet Management RESORT TAX FUND $ 83.2M OTHER SPECIAL REVENUE FUNDS $ 24.4M Transportation Cultural Arts Council People’s Transportation Plan Red Light Cameras 18 Others TOTAL OPERATING BUDGET (net of transfers & internal svc funds) $ 611M TOTAL CAPITAL BUDGET $ 60M 8 5/24/2018 5 FY 2018 General Fund Revenues: $330.M Property Taxes 53% Property Taxes ‐Renewal & Replacement 0% Property Taxes ‐Normandy Shores 0% Other Taxes 7% Licenses and Permits 9% Intergovernmental Revenues 3% Charges for Services 4% Fines and Forfeits 1% Rents and Leases 2% Miscellaneous 4% Other‐Resort Tax Contribution 11% Other‐Parking Contribution 1% Other Non‐Operating Revenues 5% 9 FY 2018 General Fund Expenditures: $330.M Police, $108,654,000 , 33% Fire, $82,468,000 , 25% Parks and Recreation, $35,735,000 , 11% Building, $15,369,000 , 5% Public Works, $15,268,000 , 4% Emergency Management, $3,270,000 , 1% Other, $70,086,000 , 21% Public Safety comprises 59% of General Fund Expenditures 10 5/24/2018 6 GENERAL FUND BUDGET TRENDS 11 General Fund Expenditures Average 3.1% Growth Since FY 2008 Average 5% Growth in Past 5 Years 12 5/24/2018 7 Public Safety Trend FY 2007 General Fund Budget FY 2018 General Fund Budget Police, 75,252,774 , 32% Fire, 43,303,018 , 18% Other, 119,117,304 , 50% Police Fire Other Public Safety as a percentage of the General Fund budget has increased from 50% in FY 2007 to 59% in FY 2018 13 Police , 108,654,000 , 33% Fire, 82,468,000 , 25% Emergency Mgmt., 3,270,000 , 1% Other, 136,458,000 , 41% Police Fire Emergency Mgmt. Other Position Count Trend Positions are 1.4% more in FY 2018 than in FY 2007 (all funds) 1,411 1,458 1,509 1,441 1,399 1,345 1,273 1,322 1,337 1,371 1,442 1,469 1,536 1,536 522 578 618 609 608 582 521 574 566 571 585 600 624 620 1,933 2,036 2,127 2,050 2,007 1,927 1,794 1,896 1,903 1,937 2,027 2,069 2,160 2,156 ‐ 500 1,000 1,500 2,000 2,500 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 General Fund Other Funds All Funds 14 5/24/2018 8 Revenue TrendProperty Taxes in FY 2018 comprise 53% of General Fund Revenues compared to 59% in FY 2007 Resort Tax contribution to the General Fund has increased to $34.9M in FY 2018 from $19.6M in FY 2007 15 General Fund & G.O. Debt by Average Daily Population Average Daily Population has grown faster than the General Fund and G.O. Debt budget since FY 2007 $‐ $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 GF Exp per ADP GO Debt per ADP 1,498 1,465 1,381 1,276 1,327 1,242 1,287 1,305 1,400 1,477 16 5/24/2018 9 FY 2019 Preliminary Budget The FY 2019 Preliminary budget represents the cost of providing the level of service currently being provided throughout the City Provides the baseline of funding for upcoming budget process 17 General Fund Expenditures Expenditures $ Notes 0‐3% Merit 771,000 5% Step (Police & Fire) 1,471,000 Cost of Living Adjustment (COLA) 680,000 1% on 4/1/19 Police & Fire Pension Contribution 1,972,000 Health Insurance ‐Active Employees 2,547,000 15% Increase based on FY18 claims experience Health Insurance ‐Retirees 2,192,000 15% Increase based on FY18 claims experience Internal Service Charges 2,542,000 Fleet Management ‐$2M ($1.M increase in debt service) Sub‐Total 12,175,000 18 5/24/2018 10 Pension Investment Return Assumptions FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Police & Fire 8.60% 8.50% 8.40% 8.30% 8.20% 8.10% 8.00% 7.95% 7.90%7.85%7.80% 7.75% MBERP 8.50% 8.35% 8.25% 8.15% 8.00% 8.00% 7.85% 7.70% 7.65%7.60%7.50% 7.40% 19 Medical & Prescription Claims Trend $‐ $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 1/ 1 / 2 0 1 5 3/ 1 / 2 0 1 5 5/ 1 / 2 0 1 5 7/ 1 / 2 0 1 5 9/ 1 / 2 0 1 5 11 / 1 / 2 0 1 5 1/ 1 / 2 0 1 6 3/ 1 / 2 0 1 6 5/ 1 / 2 0 1 6 7/ 1 / 2 0 1 6 9/ 1 / 2 0 1 6 11 / 1 / 2 0 1 6 1/ 1 / 2 0 1 7 3/ 1 / 2 0 1 7 5/ 1 / 2 0 1 7 7/ 1 / 2 0 1 7 9/ 1 / 2 0 1 7 11 / 1 / 2 0 1 7 1/ 1 / 2 0 1 8 3/ 1 / 2 0 1 8 TOTAL MEDICAL & RX CLAIMS 20 5/24/2018 11 Fleet Management Debt Service Trend 2,053,943 2,693,983 2,669,786 3,403,964 3,359,742 2,930,225 2,312,000 3,659,000 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 2012 2013 2014 2015 2016 2017 2018 2019 Fiscal Year FY 2019 Fleet Replacement Includes 1 Fire Truck ‐$1.1M 21 General Fund Expenditures Annual Impact of FY18 Mid‐Year Additions $ Sub‐Total Carried Forward 12,175,000 Elder Services / UNIDAD Meal Program 230,000 UNIDAD Maintenance 76,000 Increased Allowance to City Commission 57,000 Education Initiatives 99,000 Grand Total 12,637,000 22 5/24/2018 12 FY 2019 Preliminary General Fund Revenues Non‐property tax revenues increase $1.9M Assumes $4.4M transfer in from Parking fund Assumes no increase in transfer in from Resort Tax fund Does not include any reductions or enhancements 23 PRELIMINARY GENERAL FUND REVENUES FY 2019 Property Values •The Property Appraiser provides preliminary property values on June 1st and certified values on July 1st •Preliminary values will be known for the June 8th Finance and Citywide Projects Committee meeting ‐Revised budget will be provided 24 5/24/2018 13 Property Value Historical Trend FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 (0.2%) (8.2%) (10.5%) (0.5%) 4.9% 6.9% 9.9% 13.3% 13.0% 7.7% 25 FY 2019 Preliminary General Fund Budget FY 2019 REVENUES 332,847,000 0.6% EXPENDITURES 344,076,000 3.9% SURPLUS / (GAP) (11,229,000) Property Value Increase Needed to Balance 7% 1% Increase in Property Value $1.7M 26 5/24/2018 14 FY 2019 Budget Considerations: Fleet Vehicle & Equipment Replacement Increased Capital Funding Increased Educational Initiatives Public Safety Enhancements Office of the Inspector General 27 Office of the Inspector General •1 Inspector General (8 months) •1 Attorney (6 months) •1 Investigator (6 months) •2 Clerical positions (6 months) Year 1 Impact: $484K Year 2 Impact: $1.1M (Includes Pension costs & Annualized Funding) 28 5/24/2018 15 Public Safety Enhancements Security Guards & Park Rangers Police Officers in Schools High Impact Events 29 Police Officers in Schools Staffing: 1 Sergeant 8 Police Officers Year 1 Impact: $962K ($300K in Equipment) Year 2 Impact: $926K Locations: South Pointe Elementary Fienberg‐Fisher Elementary Nautilus Middle Miami Beach High North Beach Elementary Biscayne Elementary 30 5/24/2018 16 High Impact Periods •Police Overtime & Equipment for High Impact Periods (Currently $2.2M) •FY19 Enhancement Request: $700,000 (Resort Tax) FY16 FY17 FY18 FY19 Budget $2,651,150 $2,214,000 $1,964,000 2,194,000 Actuals/Projection $2,840,901 $2,549,375 $2,820,497 $‐ $‐ $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 31 Ocean Drive Off‐Duty •More Police on Ocean Drive by subsidizing higher off‐duty rates to incentivize staffing •Friday, Saturday, and Sunday nights FY 2018 impact: $67,000 pro‐rated FY 2019 impact: $195,000 annualized 32 5/24/2018 17 Current Park Rangers 11 Full‐Time & 18 Part ‐Time Rangers: $1.55M 2 Full‐Time in RDA (Collins Park & Soundscape Park) 11 Full‐Time & 18 Part ‐Time Rangers: $1.55M 2 Full‐Time in RDA (Collins Park & Soundscape Park) South Pointe ParkSouth Pointe Park North Beach Oceanside ParkNorth Beach Oceanside Park Flamingo ParkFlamingo Park Lummus ParkLummus Park North Shore Youth CenterNorth Shore Youth Center Boardwalk‐South Pointe Pier to 47th StreetBoardwalk‐South Pointe Pier to 47th Street 33 Security Guards Currently 26 Posts Citywide $3.46M Parking: $2.43M General Fund: $500K Resort Tax: $168K RDA: $160K Sanitation: $10K Property Management: $191K 34 5/24/2018 18 Park Ranger Enhancements North Convention Center Park Year 1 Impact: $266K Year 2 Impact: $284K 2 Full‐time Park Rangers 2 Part ‐time Park Rangers Patrol daily from 7:00 am to 10:30 pm (Commencing September 2018) 35 Park Ranger Enhancements Convention Center Park (P‐Lot) Year 1 Impact: $52K Year 2 Impact: $192k 1 Full‐time Park Ranger 2 Part ‐time Park Rangers Park Maintenance Year 1 Impact: $430K Year 2 Impact: $1.5M 2 Full‐time MSWIIs 1 Full‐time MSWI (Commencing in July 2019)36 5/24/2018 19 Park Ranger Enhancements Body Cameras for Existing Park Rangers Year 1 Impact: $44K GF $5K RDA Fund Year 2 Impact: $29K GF $4K RDA Fund 37 Park Ranger Enhancements Expansion of Park Ranger Patrol Year 1 Impact: $1.1M Year 2 Impact: $1.0M 2 Full‐time Park Rangers 14 Part‐time Park Rangers 2 Park Ranger Supervisors New Locations: North Beach Rover, South Pointe Pier, Maurice Gibb Memorial Park, Palm Island Park, Polo Park Enhanced Levels: Collins Park, Soundscape Park, Beachwalk, Baywalk 38 5/24/2018 20 Educational Enhancements $99K Added Mid‐Year 39 Educational Initiatives FY 2018/19 Program Title General Fund Education Compact Anti‐Defamation League ‐"No Place for Hate" 4,000 Common Threads Program 19,000 Math Tutoring 20,000 Voluntary Pre‐Kindergarten ($106K reduced mid‐year FY 2018) Voluntary Pre‐Kindergarten for one class at Biscayne Elmt. 35,000 International Baccalaureate 50,000 Reading Tutoring 50,000 Nurse Initiatives ‐Behavioral Health 54,000 Extracurricular Activities for Fienberg Fisher and Biscayne 60,000 Mental Health 60,000 Drug‐Prevention‐and‐Intervention Program 3,000 Substitute Teacher Incentive Program 3,000 College Prep Program / Materials 12,500 Nurse Initiative with Neighboring Municipalities 16,000 Miami Dade Public School Agendas 18,000 Miami‐Dade College Dual Enrollment 28,000 FIU Dual Enrollment 62,000 Total $142,500 $352,000 40 5/24/2018 21 Potential Educational Enhancements STEAM Initiative ‐$TBDSTEAM Initiative ‐$TBD Digital Citizen Bootcamp ‐$45KDigital Citizen Bootcamp ‐$45K Education Compact Coordinator Position ‐$71K (Year 2 ‐$92K)Education Compact Coordinator Position ‐$71K (Year 2 ‐$92K) Cyber Safety Program ‐$TBDCyber Safety Program ‐$TBD MBSH Scholarship Sponsorship ‐$TBD MBSH Scholarship Sponsorship ‐$TBD Youth Job Fair ‐$TBDYouth Job Fair ‐$TBD 41 Capital Funding 42 5/24/2018 22 Increased Capital Funding Challenges: FY 2019 PAYGO Capital Request $5M Available $2.4M FY 2019 Capital Renewal & Replacement (CRR) Request $6.5M Available $1.3MFY07 FY18 PAYGO 7,500,000 2,400,000 CRR 3,266,096 721,000 43 Increased Capital Funding Solution: Proposed Increase in Transfer to PAYGO over Time Goal: Increase to $5M Convert PAYGO into a millage rate similar to Capital Renewal & Replacement (CRR) so it will grow over time with property values General 5.6989 174,823,000 Renewal and Replacement 0.0235 721,000 General Operating Millage 5.7224 175,544,000 Debt Service 0.1664 5,914,000 Total Combined Millage 5.8888 181,458,000 Current Millage Rate 44 5/24/2018 23 Fleet Vehicle & Equipment Replacement 45 Current Methodology Step 1 ‐Fleet management system recommendation based on: •A g e • Mileage/Meter Hours • Condition • Maintenance & Repair Expenses Step 2 – Replacements approved through budget process Step 3 –R e p l a c e assets using equipment loans 46 5/24/2018 24 General Fund Replacement Budget Reflects minimal replacements starting in FY 17 47 General Fund Maintenance & Repair Expenses O & M Expense Trend 48 5/24/2018 25 Consultant Fleet Consultant engaged in January 2018 •Review vehicle replacement practices •Review of fleet replacement cycles •Adequacy of capital funding levels •Overall age of the fleet •Replacement policies •Replacement financing practices •Development of a ten year replacement plan •Utilization analysis •Assess fleet right‐sizing opportunities 49 Consultant Preliminary recommendations •Review vehicle replacement practices •Fleet replacement practices are generally sound •Increased funding for fleet assets is required •Backlog in vehicle replacement •Establish a sinking fund replacement model in the future •Industry best practice •Rising interest rate environment •Need to address backlog first to reduce high initial cost of conversion •Utilization analysis •Estimated completion in late July 50 5/24/2018 26 Resort Tax Fund 51 Resort Tax Revenue Trend 52 5/24/2018 27 Resort Tax Reserves 1 Month Reserve 4,971,417 9/30/17 Reserve Available 11,739,731 2 Month Minimum Reserve (9,942,834) Amount needed to fully fund the 3 month goal (4,971,417) Shortfall (3,174,520) Add Projected FY 2018 Surplus 2,100,000 Updated amount needed to fully fund 3 month goal (1,074,520) Reserve Policy: 2 month minimum reserve plus a goal of an additional 1 month reserve 53 FY 2019 Preliminary Resort Tax Budget FY18 FY19 VARIANCE ($) VARIANCE (%) REVENUES 56,691,000 60,150,000 3,459,000 6.10% EXPENDITURES 56,691,000 56,456,000 ‐235,000 ‐0.41% SURPLUS / (GAP) 0 3,694,000 54 5/24/2018 28 Potential Resort Tax Items FY 2018 One‐Time Expenditures $ Air & Sea Show 350,000 International Tennis Federation 100,000 Memorial Day Programming 100,000 Memorial Day Concert 250,000 Total $800,000 55 Potential Resort Tax Items Additional Requests for Existing Programs $ Police Overtime & Equipment for High Impact Periods (Currently $2.2M) 700,000 Enhanced Holiday Lighting (Currently $535K) 225,000 Total 925,000 56 5/24/2018 29 Potential Resort Tax Items Additional Items $ Remaining Available 1,969,000 Resort Tax Insurance Premium TBD Transfer to Sanitation Fund ($2.8M not transferred in FY 2018) TBD Transfer to General Fund ($2.6M not transferred in FY 2018) TBD 57 Parking Fund 58 5/24/2018 30 Parking Utilization Rates FY15 FY16 FY16 - FY15 Diff FY16 - FY15 % Diff FY17 FY17- FY15 Diff FY17 - FY15 % Diff TOTAL GARAGES HOURS 12,610,156 13,126,783 516,626 4% 12,090,746 (519,410) -4% TOTAL LOT HOURS 1,920,650 1,319,590 (601,061) -31% 949,178 (971,472) -51% TOTAL OFF-STREET HOURS 5,642,709 5,269,639 (373,069) -7% 4,778,265 (864,443) -15% TOTAL ON-STREET HOURS 8,638,452 6,022,838 (2,615,614) -30% 5,528,940 (3,109,512) -36% TOTAL GARAGE HOURS 20,307 31,795 11,488 57% 23,081 2,774 14% TOTAL HOURS 28,832,274 25,770,645 (3,061,629) -11% 23,370,210 (5,462,064)-19% Negative trend since FY 2015 59 Parking Fund: Challenges $4.4M transfer to the General Fund in FY 2019 1 $4.15M transfer to the Transportation Fund in FY 2019 2 Potential Rate Increases 3 60 5/24/2018 31 Historical Parking Transfer to General Fund $ FY 2011 3,600,000 FY 2012 7,200,000 FY 2013 7,200,000 FY 2014 8,400,000 FY 2015 8,400,000 FY 2016 8,400,000 FY 2017 6,400,000 FY 2018 4,400,000 Recommendation: •Eliminate transfer to the General Fund and use RDA Amendment proceeds instead •Reduce use of RDA Amendment proceeds over time 61 Proposed Parking Revenue Enhancements Revenue Category Current Proposed Incremental Cummulative 1 Daily Space Rental Construction $25 space/day $35.00 space/day 224,000$ 224,000$ 2M e t e r H o u r s Entertainment District Ocean Dr. to Wash. Ave. 5th to 15th St. 9 AM to 3 AM 24 Hours 135,000$ 359,000$ 3 46th St & Collins Ave Parking Lot (P71) Metered 8am – 6pm Weekend Flat $20/$6 Flat Rate 24 Hours $20/$6 539,000$ 898,000$ 4 Hostel/Bed & Breakfast Residential Zones Annual Permit $54.60 Daily Permit $3 30,000$ 928,000$ 62 5/24/2018 32 Potential Realignment of 1% QOL Resort Tax Transportation 45%6,477,000 Transportation 60%8,637,000 2,160,000 NB - QOL 15%2,159,000 NB - QOL 10%1,439,000 (720,000) MB - QOL 15%2,159,000 MB - QOL 10%1,439,000 (720,000) SB - QOL 15%2,159,000 SB - QOL 10%1,439,000 (720,000) Arts 10%1,439,000 Arts 10%1,439,000 - Total 100% 14,393,000 Total 100% 14,393,000 - FY19 PROJECTED FY19 PROJECTED (UPDATED)Prop vs Curr. 1% Allocation1% Bed Tax Revenue Allocation 1% Bed Tax Revenue Allocation Transportation Fund is heavily reliant on Parking fund (39.5% of FY18 budgeted revenues or $5.9 million) to offset the cost of the Trolley program Would reduce Parking Fund transfer to Transportation by $2.16 M 63 Parking Fund: Solutions ($7.4M) Reduce $4.4M transfer to the General Fund in FY 2019 $4.4M 1 Reduce $4.15M transfer to Transportation Fund in FY 2019 $2.16M 2 Potential Rate Increases $928,000 3 64 5/24/2018 33 Other Discussion Items Special Taxing Districts / Assessments North Beach Alternative Funding Options Fourth RDA Amendment 65 Fourth Amendment to RDA Agreement Projected to generate $6.6M transfer to the GF in FY18 ($5.1M net of Beach Renourishment) Includes the allocation of $6.9M in excess Trust funds to Convention Center Project Item to be heard by County Commission in June 19, 2018 Amendment approved by City Commission April 25, 2018 66 5/24/2018 34 Recommended Uses of FY 2018 RDA Funds $ Repayment of HUD Funds 1,079,000 Fillmore 40 Year Certification 655,000 Above Ground Costs of West Avenue Phase II & 11th Street Flamingo Neighborhood 3,366,000 Total 5,100,000 67 Fourth Amendment to RDA Agreement Allocation estimated to grow each year proportionate to property tax values in RDA through FY 2023 Estimated sunset of RDA between FY 2027‐2029 Projected to generate $6.7M ($5.2M net of Beach Renourishment) 68 5/24/2018 35 Recommended Used of FY 2019 RDA Funds $ Replace Parking’s Transfer to GF 4,400,000 Additional PAYGO CAPITAL Funding 872,000 Total 5,272,000 69 North Beach CRA Revenue or Millage Equivalent CRA City TIF District 70 5/24/2018 36 CRA Previous Direction Pursue creation of CRA with Miami‐Dade County following adoption of RDA Amendment •Captures future incremental growth in property values for the County and the City within the CRA boundaries •Funds must be spent within the CRA district Status •Pending adoption of RDA Amendment •In the process of hiring consultant to determine if meet thresholds for “slum or blight” 71 City TIF District Tax Increment Financing District Similar to CRA, but only includes the City’s portion of property taxes (not the County’s) . •Reduces amount of funding generated for projects in the district •Funds must be spent within the TIF district 72 5/24/2018 37 Revenue or Millage Equivalent Alternative to a formal district Commission could pass a resolution that a portion of property tax revenue growth in North beach would be separately identified and allocated for North Beach projects Revenue amount could be converted into a millage equivalent that would provide a dedicated funding source going forward . •Provides flexibility in determining the revenue amount •Funds could be spent anywhere in North Beach instead of only within the CRA/TIF district 73 Special Taxing Districts / Assessments Miami Beach Security Guard Districts •B i s c a y n e Point •B i s c a y n e Beach • Allison Island •S t a r Island •P a l m and Hibiscus Island Pursuant to a County Charter Amendment approved in 2016, the new County Code provides that by joint resolutions of the County and a city, effective control of an existing special taxing district can be transferred from the County to a city. Biscayne Point special district will officially transition effective October 1, 2018 74 5/24/2018 38 Biscayne Point Special Taxing District 1st Special Taxing District transferred from County to the City Effective Transfer Date –O c t o b e r 1, 2018 327 units Preliminary FY2019 Operating Budget – $256K •S e c u r i t y Services ‐$170K •S e c u r i t y Improvements ‐$50K •O t h e r Miscellaneous Expenditures ‐$6K • Administrative Expenditures ‐$30K 75 Special Taxing Districts Transfer Timeline January 2019 City passes resolution taxing district transfer May 2019 Resolutions authorizing transfer presented to Board of County Commissioners for approval July – September 2019 City to pass joint resolution accepting and ratifying County resolution December 2019 Election Date on Joint Resolution to transfer district January 2020 City becomes new governing body of district September 15, 2020 Deadline for City to adopt non‐ad valorem assessment roll October 1, 2020 Effective transfer date 76 5/24/2018 39 Special Taxing Districts Items to consider for transfer of remaining districts: •Property Management •1 Position for Contract Management for Maintenance and Services •Budget and Finance •1 Position for Annual Budget Preparation and Oversight; Financial Accounting and Reporting; Uniform method for collecting non‐ad valorem assessments compliance •Additional positions to be funded by potential administrative fees collected (Estimated $150K) 77 Next Steps Friday, July 27, 2018 ‐Optional Friday, July 20, 2018 – Finalize Budgets Friday, July 13, 2018 – Operating Budget Friday, June 8, 2018 – Capital Budget & Preliminary Operating Budget Update Upcoming Finance & Citywide Projects Committee Meetings 78 5/24/2018 40 Commission Meetings Set maximum millage rate July 25 Adopt Proposed Millage Rates and Budgets Sep. 12 Adopt Final Millage Rates and Budgets Sep. 26 79