2008-26895 ResoRESOLUTION NO. 2008-26895
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, ADOPTING: 1) THE FINAL AD VALOREM
MILEAGE OF 5.6555 MILLS FOR GENERAL OPERATING PURPOSES,
WHICH IS FOUR-TENTHS OF ONE PERCENT (0.4%) MORE THAN THE
"ROLLED-BACK" RATE OF 5.6349 MILLS; AND 2) THE DEBT SERVICE
MILEAGE RATE OF 0.2375 MILLS FOR FISCAL YEAR (FY) 2008!09.
WHEREAS, on September 8, 2008 the Mayor and City Commission tentatively adopted
the operating millage rate 5.6555 mills for general operating purposes, and 0.2375 mills for debt
service; and
WHEREAS, Section 200.065, Florida Statutes, requires that at the conclusion of the
second public hearing on the City's proposed tax rate and budget, the City Commission: 1) adopt
the ad valorem millage rate for FY 2008/09 operating purposes; and 2) the required Debt Service
millage rate; this is accomplished by publicly announcing the name of the taxing authority, the
"Rolled-back" rate, the percentage increase of the "Rolled-back" rate and the millage rates before
adoption of the millage levy resolution; and
NOW THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND THE CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that pursuant to Section 200.065,
Florida Statutes, there is hereby levied a tax for the Fiscal Year (FY) 2008/09, on all taxable and
non-exempt real and personal property located within the corporate limits of the City of Miami
Beach, Florida, as follows:
(a) For the purpose of operating the government of the City, the rate assigned
amounts to 5.6555 mills. Also included are appropriate reserves and
contingencies, which are not limited to reserves for tax discounts and
abatements of uncollected taxes.
The millage rate reflected is four-tenths of one percent (0.4%) more than
the "Rolled-back" rate of 5.6349 mills.
(b) For the purpose of providing payment on the principal and interest
portions of the General Obligation Bond Debt outstanding, the rate
assigned amounts to 0.2375 mills.
PASSED and ADOPTED this 17th day of September, 2008.
...,_
ATTEST:
CITY CLERK
Robert Parcher
" ' MAYOR
Matti Herrera Bower
APPROVED AS TO
FORM 8 LANGUAGE
~-, es< FQR~EXECUTION
R Iz ~~
~e
COMMISSION ITEM SUMMARY
Condensed Title:
A resolution of the Mayor and City Commission of the City of Miami Beach, Florida, adopting: 1) the Final Ad Valorem
Millage of 5.6555 mills for general operating purposes, which is four-tenths of one percent (0.4%) more than the
"rolled-back" rate of 5.6349 mills; and 2 the debt service milla e rate of 0.2375 mills for Fiscal Year FY 2008!09
Ke Intended Outcome Su orted:
Ensure expenditure trends are sustainable over the long term; Improve the City's overall financial health and maintain
overall bond ratin ;Increase communit satisfaction with cit services
Supporting Data (Surveys, Environmental Scan, etc.):
In the 2007 survey, 46% of residents and 55% of businesses rated the value of city services for tax dollars paid as
excellent or good. The value of city services for tax dollars paid appeared as a key driver for residents' perceptions
of overall quality of life and city government meeting their needs; one of the areas most important to resident's
quality of life; and for businesses' perceptions of City government; its interest in hearing their concerns, Miami
Beach as a place to run a business, and whether the City is doing better, the same, or worse versus a few years
ago.
The Adopted FY 2007/08 General Fund Operating Budget reduced the City's total millage rate by 1.7760 mills to a
rate of 5.8970 mills, an unprecedented 23% decrease in millage, a reduction of $44 million in property tax revenues
based on the FY 2006/07 millage rate, and a reduction of $17.5 million (11 %) from FY 2006!07 budgeted property
tax revenues. The adopted FY 2007108 budget identified re-organizational efficiencies; removed departmental
contingencies; significantly reduced overtime, travel, training, subscriptions, supplies, contracts, etc.; and
strategically reduced services that were not as closely aligned with our strategic plan or that had not been as
successful in achieving desired results -reducing $20.7 million and almost 100 positions (86 full-time and 7 part-
time).
Between FY 1999!2000 & FY 2007/08 City of Miami Beach Total Combined Millage decreased by 2.8 mills (11.8%)
to 5.6555. In FY 2007/08, total millage for all taxing jurisdictions within the City of Miami Beach was 20.1746, and
remains lower than most munici alities in Miami-Dade Count .
Issue:
Shall the Mayor and City Commission adopt the resolution?
tem 5ummary~tcecommenaai~on:
The Administration is recommending reducing the City's total combined millage rate to 5.8930 for FY 2008/09, a
reduction of 0.004 mills and 0.1 percent. The operating millage is maintained at 5.6555 mills, including a general
operating millage rate of 5.5472 and a General Fund Capital Renewal and Replacement millage of 0.1083. The debt
service millage rate is reduced from 0.2415 to 0.2375, a reduction of 1.7 percent.
The rollback rate is the millage rate required to produce the same level of Citywide property tax revenues in FY
2008/09 as collected in FY 2007/08 and is calculated as 5.6349, 0.0206 mills less than the millage rate adopted for
FY 2007/08.
Board
rmanciai inroi
Source of
Funds:
OBPI
Financial Impact Summary: In FY 2007/08, the operating millage rate for general City operations was
adopted at 5.6555. Based on the July 1, 2008 Certification of Taxable Value, 5.6555 mills would generate
approximately $144,519,307 million in tax revenues, an increase of $261,307 over current year budgeted property tax
revenues Citywide (General Fund, City Center RDA and the South Pointe area). However, the General Fund
property tax revenues will decrease by $1.4 million. This decrease in General Fund property tax revenue precludes
the Citv from absorbing normal increases in salary and fringes and other normal increases due to inflation.
AGENDA. #TEM n '
MME BE~~1 DATE
Cit Clerk's Office Le islative Trackin
m MIAMIBEACH
City of Miami Beath, 1700 Convention Center Drive, Miami Beach, Florida 33139, vaww.miamibeachfl.gov
COMMISSION MEMORANDUM
TO: Mayor Matti Herrera Bower and Members of the City Commission
FROM: Jorge M. Gonzalez, City Manager
DATE: September 17, 2008
SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI
BEACH, FLORIDA, ADOPTING: 1) THE FINAL AD VALOREM MILEAGE OF 5.6555
MILLS FOR GENERAL OPERATING PURPOSES, WHICH IS FOUR-TENTHS OF ONE
PERCENT (0.4%) MORE THAN THE "ROLLED-BACK" RATE OF 5.6349 MILLS; AND
2) THE DEBT SERVICE MILEAGE RATE OF 0.2375 MILLS FOR FISCAL YEAR (FY)
2008109
ADMINISTRATION RECOMMENDATION
The Administration recommends that the City Commission adopt the attached Resolution which
sets the following:
1) Final adopted millage rates for Fiscal Year (FY) 2008109
General Operating 5.5472 mills
Capital Renewal & Replacement 0.1083 mills
Sub-Total Operating Millage 5.6555 mills (no change from FY 2007/08)
Debt Service 0.2375 mills (0.2415 last year, 1.7°/o decrease)
Total 5.8930 mills (5.8970 last year, 0.1 % decrease)
2) The final adopted combined millage rate of 5.8930 mills is 0.0040 mills less than the 5.8970
combined millage rate for FY 2007/08. The final adopted operating millage rate for FY
2008/09 is 5.6555 mills. State statute requires that we advertise that this rate is 0.4% more
than the "Rolled-back" rate of 5.6349 mills.
The first public hearing on the tentative millage rates and budgets for FY 2008/09 was held on
September 8, 2008. The millage rates presented herein are those which were tentatively adopted at
the end of that first public hearing.
The rollback rate is the millage rate required to produce the same level of property tax revenues in
FY 2008/09 as collected in FY 2007/08, net of the impacts of Florida Constitution Amendment 1
approved in January 2008 which reduced the City's taxable values by $463 million and property tax
revenues by approximately $2.6 million. Amendment 1 provided constitutional changes to the
homestead exemption and changes in the assessment of affordable housing, working waterfronts
and a $25,000 exemption of tangible personal property. The rollback rate is calculated by dividing
FY 2008/09 Final Millage Adoption
September 17, 2008
Page 2
the prior year property tax revenues by the current year property values, after new construction,
major improvements, annexations, deletions and tax increment districts are removed from current
year property values.
Under the recently enacted State legislation, the City may elect to approve millage rates above the
roll-back rate up to the constitutional cap of 10 mills subject to an extraordinary vote by the
Commission or referendum:
Millage up to 5.7436 (equivalent to a 4.15% increase in Property Tax revenues, net of the
impact of Amendment 1) requires majority of the approval of the Commission
• Millage up to 6.4643 (equivalent to a 10% increase in Property Tax revenues, net of the impact
of Amendment 1)requires atwo-thirds approval (5 of 7 votes) of the Commission
• Millage above 6.4643 requires unanimous approval of the Commission or referendum up to the
10 mill cap.
PROCEDURE
Florida Statutes 200.065 requires that at the conclusion of the second public hearing on the
proposed tax rate and budget, the City Commission proceed in the following specific manner:
Adopt an ad valorem millage rate for FY 2008/09 operating purposes and debt service. The
statute requires the name of the taxing authority, the "Rolled-back" rate, the percentage
increase over the "Rolled-back" rate, and the millage rates be publicly announced before
adoption of the millage levy resolution.
State statute requires that only the title be read aloud.
Adopt a general operating budget for FY 2008/09. Also included, are budgets for G.O. Debt
Service, RDA Fund-Ad Valorem Taxes, Enterprise and Internal Service Funds. This is
accomplished by adopting a companion Resolution. (See accompanying Agenda Item
R7A2).
ANALYSIS OF PROPERTY VALUES IN MIAMI BEACH
On July 1, 2008, the City received the "2008 Certification of Taxable Value" from the Property
Appraiser's Office stating that the taxable value for the City of Miami Beach is $26,898,698,386,
including $204,624,492 in new construction. The preliminary 2008 value represents an increase of
$48.6 million or 0.2 percent over 2007's June 29 Certification of Taxable Value of $26,850,061,663
and is net of the $463 million impact of Amendment 1, an 1.9 percent impact.
The comparative assessed values for the Miami Beach Redevelopment Agency City Center
redevelopment district increased from $3,585,310,480, to $3,707,103,133, an increase of
$121,792,653, or a 3.4 percent increase in values over 2007 certified values. In addition, assessed
values within the geographic area formerly known as the South Pointe redevelopment district
increased from $3,452,319,916, to $3,684,154,640, an increase of $231,834,724, or a 6.7 percent
increase in values over 2007 certified values. As a result, taxable values in the areas outside the
City Center RDA/South Pointe area decreased by 1.5 percent, from $19.812 billion to 19.507
billion, a decrease of $305 million.
FY 2008/09 Final Millage Adoption
September 17, 2008
Page 3
COMPARATIVE ASSESSED VALUES in billions
Jan. 1 2007 Value Jan. 1 2008
Value
As of June
29 2007
(For FY
2007/08
Bud et
Final Value
(For FY
2007/08
Pro~ection
As of July 1
2008
(For 2008/09
Bud et
% Change
from 2007
Value
Bud et
% Change
from Final
Value
RDA - Cit Center 3.5853 3.4658 3.7071 3.4% 7.0%
South Pointe Area 3.4523 3.4148 3.6842 6.7% 7.9%
General Fund 19.8124 19.2555 19.5074 -1.5% 1.3%
Total Cit ide 26.8500 26.1361 26.8987 0.2% 2.9%
Further, "2008 Certification of Taxable Value" from the Property Appraiser's Office, also decreased
the estimated "2007 Taxable Value" from $26.850 billion to $26.136 billion, a decrease of $714
million. This difference between 2007's preliminary and final values represents the loss of 2.7
percent due to appeals, value adjustments, etc., while prior year differences have been less than 1
percent. This is in addition to typical discounts due to early payments that have averaged about 3
percent per year. The majority of this loss occurred in areas outside the City Center Redevelopment
District and the South Pointe area, and is higher than historic levels for the second year. As a
result, property tax revenues in FY 2007/08 are anticipated to be approximately $1.5 million less
than budgeted.
As with Citywide values, 2007 Taxable Values for City Center and the South Pointe area, were
revised to $3,465,784,338 and $3,414,814,691, adecrease of $119.5 million (3.3 percent) and
$37.5 million (1.1 percent), respectively, as of July 1, 2008.
Determining the Operating Millage Levy
The first building block in developing a municipal budget is the establishment of the value of one
mill of taxation, wherein the mill is defined as $1.00 of ad valorem tax for each $1,000 of property
value. For the City of Miami Beach, this value for each mill is determined by the 2008 Certification
of Taxable Value and has been set at $26,898,698,386. Florida Statutes permit a discount of up to
five percent for early payment discounts, delinquencies, etc. Therefore, the 95 percent value of the
mill is $25,553,763. The 95 percent value of 1 mill outside the City Center RDA/South Pointe area
is $18,866,667.
Based on the proposed operating millage rate of 5.6555, the combined tax levy for General Fund,
City Center and the South Pointe area is $144,519,307, an increase of $261,307 over budgeted
property tax revenues for FY 2007/08 net of debt service. However, due to the decrease in
property values outside of City Center RDA and the South Pointe area, property tax revenues
available Citywide, net of renewal and replacement funding, are projected to decrease by $1
million.
FY 2008/09 Final Millage Adoption
September 17, 2008
Page 4
General Obligation Debt Service Fund
The general obligation debt service payment for FY 2008/09 is approximately $6.1 million, reflecting
a decrease of $92,107. Base on the July 1, 2008 Certified Taxable Value from the Property
Appraiser, these bonds would require the levy of a reduced debt service millage of 0.2375 mills.
This represents a reduction of 0.0040 mills.
General Obligation Debt Service Millage
0
N
cu
rn
O
rl
O
O
98 99 '00 'O1 '02 '03 '04 '05 'O6 '07 '08 '09
Fiscal Years
Total Combined Millage Rates
Illustrated below is a comparison of the combined millage rates and ad valorem revenues to the
City of Miami Beach for FY 2007/08 (final) and FY 2008/09 (preliminary) including RDA. It is
recommended that in the General Fund, 0.1083 mills of the total operating millage be dedicated to
renewal and replacement, resulting in $2.219 million in renewal and replacement funding.
FY 07108 FY 08109 Inc!(Dec) % Inc!(Dec)
City of Miami Beach Millage Rates
Operating 5.5173 5.5472 0.0299 1%
Capital Renewal & Replacement 0.1382 0.1083 (0.0299) -22%
Debt Service 0.2415 0.2375 (0.0040) -2%
Total 5.8970 5.8930 (0.0040) 0%
FY 2008109 Final Millage Adoption
September 17, 2008
Page 5
If these recommended millage rates are adopted, then the City of Miami Beach's overall combined
tax rate millage will decrease by 0.0040 mills as compared to the current year, as the total
operating millage will remain unchanged and the debt service millage will decrease by 0.0040 mills.
The resulting City of Miami Beach tax levy for debt service and operating combined, including the
City Center RDA and the South Pointe area is $150.6 million, of which $6.1 million is for debt
service; $18.3 million is forthe City Center RDA; $10.3 million and $9.2 million are generated from
the South Pointe area and are available to the General Fund pursuant to the Convention
Development Tax (CDT) Interlocal Agreement with Miami-Dade County for South Pointe
expenditures and Citywide General Fund expenditures, respectively; and $106.7 million is available
to the General Fund net of the City Center RDA and South Pointe area.
160 30 ~
140
T 120 20
100 v
80
~ 60 10
~, _
40 °°
20 3.
U 0 0
98 99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09
Tax Levy including Debt (Property Values
Combining Jurisdictional Operating and Debt Service Millage Levies
City of Miami Beach property owners must also pay property taxes to Miami-Dade County, the
Miami-Dade County School Board, the South Florida Water Management District, and the Florida
Inland Navigation District.
As adopted by the County at their July 17 Commission meeting, the countywide tax rate is
proposed to increase from 4.5796 mills to 4.8733 mills. The library tax rate is proposed to remain
unchanged from 0.3842 mills. The Children's Trust tax rate is proposed to decrease from 0.4223
mills to 0.4212 mills. The School Board Tax millage is proposed to decrease from 7.9480 to 7.7970.
Proposed tax rates for other jurisdictions are unavailable at this time and are shown as unchanged.
FY 2008/09 Final Millage Adoption
September 17, 2008
Page 6
Using tax rates known at this time, the changes in millage is estimated as follows:
FY 07108 FY 08109 Inc/(Dec) Inc/(Dec)
OVERLAPPING TAX MILEAGE
City of Miami Beach Millage Rates
Operating 5.5173 5.5472 0.0299
Capital Renewal & Replacement 0.1382 0.1083 -0.0299
Debt Service 0.2415 0.2375 -0.0040
Tota I 5.8970 5.8930 -0.0040 0%
Miami Dade County
Countywide 4.5796 4.8733 0.2937
Library _ 0.3842 0.3842 0.0000
Debt Service 0.2850 0.2850 0.0000
Subtotal 5.2488 5.5425 0.2937 6%
School Board
' 7.9480 7.7970 -0.1510 -2%
Children
s Trust 0.4223 0.4212 -0.0011 0%
Other 0.6585 0.6585 0.0000 0%
Total 20.1746 20.3122 0.1387 1
Combined Millage Levy Impact on Miami Beach Property Owners
Homesteaded Property Owners
Amendment 10 to the State Constitution took effect on January 1, 1995 and limited the increase in
assessed value of homesteaded property to the percentage increase in the consumer price index
(CPI) or three percent (3%), whichever is less. For 2007, the CPI has been determined to be 4.1
percent and therefore, the increase is capped at 3% for increased values as of January 1, 2008.
Further, all taxing jurisdictions, except the school district, reflect the impact of the additional
$25,000 exemption for homesteaded properties. The homestead exemption is applied after the
increase in value as shown in the following table.
For a typical homesteaded property with a median value as of January 1 2007 of $353,770, the
Miami Beach portion of the tax bill, which represents 28% of the total tax bill, would decrease by
$86 although, due to tax increases from other jurisdictions, the total bill would decrease by only
$52.
FY 2008/09 Final Millage Adoption
September 17, 2008
Page 7
Change in Taxes Paid by Homesteaded Properties
FY 2007 Assessed Value $ 250,000 $ 353,770 $ 500,000 $ 1,000,000
Less $25,000 Exemption $ (25,000) $ (25,000) $ (25,000) $ (25,000)
FY 2007 Taxable Value $ 225,000 $ 328,770 $ 475,000 $ 975,000
2007 Taxes
City of Miami Beach $ 1, 327 $ 1, 939 $ 2, 801 $ 5, 750
Miami Dade County $ 1,181 $ 1,726 $ 2,493 $ 5,118
Schools $ 1,788 $ 2,613 $ 3,775 $ 7,749
Other $ 243 $ 355 $ 513 $ 1,054
Total $ 4,539 $ 6,633 $ 9,583 $ 19,670
FY 2008 Assessed Value - 3% incr. $ 257,500 $ 364,383 $ 515,000 $ 1, 030,000
Less $25,000 Exemption $ (25,000) $ (25,000) $ (25,000) $ (25,000)
FY 2008 Taxable Value -Schools $ 232,500 $ 339,383 $ 490,000 $ 1,005,000
Additional $25,000 Exemption $ (25,000) $ (25,000) $ (25,000) $ (25,000)
FY 2008 Taxable Value -All Others $ 207,500 $ 314,383 $ 465,000 $ 980,000
2008 Taxes
City of Miami Beach $ 1,223 $ 1,853 $ 2,740 $ 5,775
Miami Dade County $ 1,150 $ 1,742 $ 2,577 $ 5,432
Schools $ 1,813 $ 2,646 $ 3,821 $ 7,836
Other $ 224 $ 339 $ 502 $ 1,058
Total $ 4,410 $ 6,581 $ 9,640 $ 20,101
of 2008 Tax Bill
City of Miami Beach 27.7% 28.2% 28.4% 28.7%
Miami Dade County 26.1% 26.5% 26.7% 27.0%
Schools 41.1% 40.2% 39.6% 39.0%
Other 5.1% 5.2% 5.2% 5.3%
Total 100.0% 100.0% 100.0% 100.0%
$ Change in Taxes
City of Miami Beach
~
$
(104) $ (86) $ (61) $ 26
Miami Dade County $ (31) $ 17 $ 84 $ 314
Schools ~ $ 25 $ 33 $ 45 $ 87
Other ~ $ (19) $ (16) $ (11) $ 4
Total $ (130) $ (52) $ 57 $ 431
FY 2008/09 Final Millage Adoption
September 17, 2008
Page 8
Non-homesteaded Properties
Impacts of the decrease for non-homesteaded properties will vary based on the increase in
assessed value for each individual property.
Change in Taxes Paid by Non-Homesteaded Properties
FY2007 Taxable Value $ 500,000 $1,000,000 $ 5,000,000 $10,000,000
2007 Taxes
City ofNiami Beach $ 2,949 $ 5,897 $ 29,485 $ 58,970
Miami Dade County
Other $
$ 2,624 $ 5,249 $
4,514 $ 9,029 $ 26,244 $
45,144 $ 52,488
90,288
Total $ 10,087 $ 20,175 $ 100,873 $ 201,746
FY 2008 Taxable Value - No change $ 500,000 $1,000,000 $ 5,000,000 $10,000,000
2008 Tames
City ofNfamiBeach $ 2,947 $ 5,893 $ 29,465 $ 58,930
Miami Datle County $ 2,771 $ 5,543 $ 27,713 $ 55,425
Other $ 4,514 $ 9,028 $ 45,139 $ 90,277
Total $ 10,232 $ 20,463 $ 102,316 $ 204,632
$ Change in Tames
CityofNiami Beach $ (2) $ (4) $ (20) $ (40)
Miami Dade County $ 147 $ 294 $ 1,469 $ 2,937
Other $ (1) $ (1) $ (5) $ (11)
Total $ 144 $ 289 $ 1,443 $ 2,886
FY2008TaxableUalue- 10%increase $ 550,000 $1,100,000 $5,500,000 $11,000,000
2008 Taxes
CityofNiami Beach $ 3,241 $ 6,482 $ 32,412 $ 64,823
Miami Dade County $ 3,048 $ 6,097 $ 30,484 $ 60,968
Other $ 4,965 $ 9,930 $ 49,652 $ 99,305
Total $ 11,255 $ 22,510 $ 112,548 $ 225,095
$ Change in Taxes
City ofNiami Beach $ 293 $ 585 $ 2,927 $ 5,853
Miami Datle County $ 424 $ 848 $ 4,240 $ 8,480
Other $ 451 $ 902 $ 4,508 $ 9,017
Total $ 1,167 $ 2,335 $ 11,675 $ 23,349
CONCLUSION
The Administration recommends adoption of the attached Resolution which sets both final
operating and debt service millage rates for FY 2008/09.
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CITY OF MIAMI BEACH
NOTICE OF PROPOSED TAX INCREASE
The City of Miami Beach has tentatively adop#ed a measure to increase its property
tax levy. _
Last year's property#ax levy:
A. initially proposed tax levy .....................................$152,007,177
B. Less tax reductions due to Value Adjustment
Board and other assessment changes ..... . ................$ 4,D42,686
C. Actual property tax levy ...................:...:.... ..............$147,964,491
m
F
This year's proposed tax levy ..............................................$152,229,784
All concerned citizens are invited to attend a public hearing on the tax increase to be
held on .
Wednesday, September 17, 2008,
5:01 P.M.
' at
1700 Canventipn Center Drive
City HaA Commission Chambers, 3rd Floor
- Miami Beach, Florida 33139
A FINAL DECISION on the proposed tax increase and the budget will be made at
this hearing.
. BUDGET SUMMARY
CITY OF MIAMI BEACH - FlSCAL YEAR 2001;109
THE PROPOSED OPEi!iATING BUDGET EXPENDITURES OF
THE CITY OF MIAMI BEACH ARE 6.396.
MORE THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES.
G.O.OEBT 91TERN4L
' GENERAL - SHiMCE fl0A ENTEflPR~E ~ SBNICE
FUND FUND ~ FUNDS ~ FUNDS ~ FUNDS TOTAL-
~y_BAIAfICE R6~IUCHT FORWARD S 0- S 0 S 0 •5 4,312,800 S 1,71B,380~ 5 6,091,180
EFIIMATED REYJ:N~: ~ -
Taxes: Mlllape Per S7,000
Ad Yal4rdn 5.65.75 )DperalMg) 5125.938204 517,850,335 S 0 `5 0 5143,788¢39
Ad Yald9em 0.7227 {Npm. Snores) 98,981 98,981
Atl Yalarom 0,237511koed Debt) 6.069,019 8,099,0'18
Frendiise 70541,200 ~ 10511,200
UIIIAy 73,460,550 13,400,3!0
Comrentlal bevebpmem 0 4,500,000 4,809,000
lkensee antl Permits 14,807,042 14,907,942
InUrgovemmental 10,001,420 2,405,188 ~ 12,408,800
Chs4ges to Services 11,657.981 122,752,222 47,488,3fi0 181,988,863
Feesantl FaAe9ures 2.075.000 2,070,000
gaerest Earnlrgs 8.310,000 2,489,450 784000 9,579+150
Rents and ceases 4,483,002 4,483A81
Miscelkfrleous 7,714555 2.348,670 516,368. 10573,890
001er RnancNlg Sources - ~ 29,027,990 29;027,9BD
1DIAL REYBIIIES AND DINER - -
FRIANCOIG OOURCES 5236,111,925 54069,019. 517,850,335 5134,493,510 548,764,726 5443,300,517
70TAL ES79MATED REIi@PoES
AND8ILLANCFS
04111
E7IPE
FJF 5234111,926 58,069,019 St7.88D,336 5138,806,310 130,b63A88 SN9,400,077
N
R
JIPENSFS
6enaalGovernmem
S 34469.551
S 0
S 0
S 0 .
S48,187,385
582,956,938
PublkSafgry td5,/27,181 - 144427,191
Pnysicel Envhromment 1,621,794 84,586,125 66.201,819
TrarsportalNln 4,261,786 25,706,562 ~ 29,970,348
EcanamtcEmomimenl 1,071,574 17,850,335 10921,509
.Human Services ~ 1.250,079 - 1,26D,0T9
Cu9ure 6 Renealidn 33,323,486 ~ 75,843,681 48,997,347
Normandy Snores Dktrlct 152,278 - 152,278
Debt Servke 1.915,222 4069,019 15,093,887 2,375,703 25,/63,631
Diller Finencinq UeasrCaONaI TransleYB 11,31 B.97d ~ 11,918,974
TOTALFJIPFNDITURE6 Sxi4A11,925 58,0,019 517,000,335 821,032236 560,56:1,088 5430,326,941
Doraingency/Resenres 1,30D,000 0 0 17,774,075 0 18074,076
T6TAL APPIgPRU1TED EJO'EIWIIUNES .
ANDRE9ERYES 5230,111,925 56,0,010 577,860,336 5130,808,31D Sd0,683,OB0 5449,400,877