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Home My WebLink About2006-26312 Reso RESOLUTION NO. 2006-26312 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE NORMANDY SHORES LOCAL GOVERNMENT NEIGHBORHOOD IMPROVEMENT DISTRICT ADOPTING THE TENTATIVE OPERATING BUDGET FOR FISCAL YEAR 2006/07 SUBJECT TO A SECOND PUBLIC HEARING SCHEDULED ON THURSDAY, SEPTEMBER 21, 2006 AT 5:02 P.M. WHEREAS, for the purpose of providing security services within the Normandy Shores neighborhood area, the Mayor and City Commission adopted Ordinance No, 93- 2881 on October 20, 1993, which authorized the creation of the Normandy Shores Local Government Neighborhood Improvement District (District); and WHEREAS, for the purpose of providing security services within the District, a tentative budget has been developed to fund projected Fiscal Year (FY) 2006/07 operating expenses; and WHEREAS, the tentative operating budget has been reviewed by the Board of Directors of the District (Board) to assure its content and scope; and WHEREAS, on September 6, 2006, pursuant to Section 200.065 of the Florida Statutes, a public hearing was held before the Mayor and City Commission, acting as the Board, to discuss the operating millage rate and operating budget for the District for FY 2006/07. NOW, THEREFORE, BE IT DULY RESOLVED BY THE BOARD OF DIRECTORS OF THE NORMANDY SHORES LOCAL GOVERNMENT NEIGHBOR- HOOD IMPROVEMENT DISTRICT, that the Board hereby adopts the tentative operating budget for the District for FY 2006/07 as summarized herein and listed below subject to a second public hearing scheduled on Thursday, September 21,2006 at 5:02 P,M,: Revenues Ad Valorem Tax City's General Fund Total Expenses Security Service Maintenance Tot $ 87,949 47,305 .$135.254 $110,406 24,848 $135,254 PASSED and ADOPTED this Robert Parcher airp son of the District APPROVED AS TO avid Dermer FORM & LANGUAGE & FOR EXECUTION v.12pl,,- ~ ATTEST~d r<4ck Secretary to the District COMMISSION ITEM SUMMARY Condensed Title: A resolution adopting the tentative operating budget for the Normandy Shores Local Government Neighborhood Improvement District for Fiscal Year 2006/07 subject to a second public hearing scheduled on Thursdav, September 21,2006 at 5:02 p.m. Ke Intended Outcome Su orted: Ensure expenditure trends are sustainable over the long term Improye the City's oyerall financial Health and maintain overall bond rating Increase Communit Satisfaction with Ci Services Issue: Shall the Mayor and City Commission, acting in its capacity as the Board of Directors for the Normandy Shores Local Government Neighborhood Improvement District, approve the tentative operating budget for the District for Fiscal Year 2006/07 in the amount of $135,254 subject to a second Public Hearing scheduled on Thursday, September 21,2006, at 5:02 P,M. Item Summary/Recommendation: The tentative ad valorem millage recommended by the Administration is 0.338 mills to proYide the current level of security required by this district. This tax levy will generate proceeds of $87,949. The total operating budget to provide security services to this district is $135,254. This is comparable to the current year end projections. An additional $3,000 is included in the budget to fund upgrading the electronic access system. The difference between the revenues which will be generated from ad-yalorem tax proceeds and the total budgetary requirement of the district must be supplemented by a contribution from the General Fund in the amount of $47,305 or 35% of the total operating budget. The General Fund has funded this' difference for each of the twelve years since the District was established, The amount provided by the General Fund for this purpose in FY 2005/06 was $45,131, Advisory Board Recommendation: I Financial Information: Source of Funds: $ 87,949 Approved [1[] OBPI $135,254 Financial Impact Summary: 47,305 Normandy Shores District General Fund City Clerk's Office Legislative Tracking: I Assistant City Manager City Manager - - m .~ MIAMI BEACH AGENDA ITEM DATE R 78 ;;... 9-6-tJ" ~ MIAMI BEACH City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov COMMISSION MEMORANDUM TO: Mayor David Dermer and Members of the City Commission Jorge M. Gonzalez, City Manager\)..-- ~ September 6, 2006 C A RESOLUTION OF THE BOARD OF DIRECTORS OF THE NORMANDY SHORES LOCAL GOVERNMENT NEIGHBORHOOD IMPROVEMENT DISTRICT ADOPTING THE TENTATIVE OPERATING BUDGET FOR FISCAL YEAR 2006/07 SUBJECT TO A SECOND PUBLIC HEARING SCHEDULED ON THURSDAY, SEPTEMBER 21, 2006 AT 5:02 P.M. ADMINISTRATION RECOMMENDATION FROM: DATE: SUBJECT: Adopt the Resolution which establishes the tentative operating budget for the District for Fiscal Year (FY) 2006/01 in the amount of $135,254, subject to a second public hearing to be held on Thursday, September 21,2006. BACKGROUND The Normandy Shores Local Government Neighborhood Improvement District, a dependent taxing district of its principal, the City of Miami Beach, was established in 1994 to provide continual 24-hour security to this gated community; FY 2006/07 represents its thirteenth year of operation. It was established by Ordinance 93-2881, and has the authority "to levy an ad-valorem tax on real and personal property of up to two mills, provided that no parcel of property will be assessed more than $500 annually for such improvements". However, on August 29,2002, the Administration met with the Normandy Shores Local Government Neighborhood Improvement District representatives and agreed to eliminate the $500 cap on the highest valued home in the District. The enabling legislation was adopted by the Commission on September 25, 2002. This ensures that the City's contribution from the General Fund remains at 35% of the operating budget of the District. During FY 1998/99, the amount of annual funding to be provided by the City and the dependent status of the District were issues discussed by the Finance and Citywide Projects Committee. A determination was reached that the City would fund 35% of the annual cost of the operation of the community guard gate. This cost will eventually be funded from the golf course operation of the Normandy Shores Golf Course. PROCEDURE The operating millage and budget for this dependent special taxing district must be adopted in accordance with Florida Statutes. This procedure requires that this Resolution be considered immediately after the tentative millage for Normandy Shores District has been adopted (See accompanying Agenda Item R7B1 for details). ANALYSIS The tentative operating budget for the District is as follows: Revenues Ad Valorem Tax City's General Fund Total $ 87,949 47,305 $135,254 Expenses Security Service Maintenance Total $110,406 24,848 $135,254 At the July 12, 2006 Commission meeting, the Mayor and City Commission adopted Resolution 2006-26240, which set the operating millage rate for the District at 0.338 mills, The tentative ad valorem millage recommended by the Administration is 0.338 mills to provide the current level of security required by this district. This tax levy will generate proceeds of $87,949. The total operating budget to provide security services to this district is $135,254. This is comparable to the current year end projections. An additional $3,000 is included in the budget to fund upgrading the electronic access system. The difference between the revenues which will be generated from ad-valorem tax proceeds and the total budgetary requirement of the district must be supplemented by a contribution from the General Fund in the amount of $47,305 or 35% of the total operating budget. The General Fund has funded this difference for each of the twelve years since the District was established. The amount provided by the General Fund for this purpose in FY 2005/06 was $45,131. CONCLUSION The City Commission, acting in its capacity as the Board of Directors of the Normandy Shores Local Government Neighborhood Improvement District, should adopt the attached Resolution which establishes a tentative operating budget and schedules the second and final public hearing. JMG:KGB:JC T:\AGENDA\2006Isep0606\Regular\07 NS Budgl Memo & Reso.doc