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PBSD BC Agenda 05/04/2021PELICAN BAY SERVICES DIVISION Municipal Service Taxing and Benefit Unit NOTICE OF PUBLIC MEETING TUESDAY, MAY 4, 2021 THE BUDGET COMMITTEE OF THE PELICAN BAY SERVICES DIVISION ON TUESDAY, MAY 4 AT 1:00 PM AT THE CLUB PELICAN BAY, 707 GULF PARK DR, NAPLES, FLORIDA 34108. AGENDA 1. Pledge of Allegiance 2. Roll Call 3. Agenda Approval 4. Approval of 04/07/2021 Meeting Minutes 5. Audience Comments 6. FY 2021/2022 Budget a. Fund 109 b. Fund 320 c. Fund 322 d. Fund 778 7. 10 Year Capital Projects/Financing and Assessments 8. Other Committee Comments 9. Adjourn ANY PERSON WISHING TO SPEAK ON AN AGENDA ITEM WILL RECEIVE UP TO THREE (3) MINUTES PER ITEM TO ADDRESS THE BOARD. THE BOARD WILL SOLICIT PUBLIC COMMENTS ON SUBJECTS NOT ON THIS AGENDA AND ANY PERSON WISHING TO SPEAK WILL RECEIVE UP TO THREE (3) MINUTES. THE BOARD ENCOURAGES YOU TO SUBMIT YOUR COMMENTS IN WRITING IN ADVANCE OF THE MEETING. ANY PERSON WHO DECIDES TO APPEAL A DECISION OF THIS BOARD WILL NEED A RECORD OF THE PROCEEDING PERTAINING THERETO, AND THEREFORE MAY NEED TO ENSURE THAT A VERBATIM RECORD IS MADE, WHICH INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. IF YOU ARE A PERSON WITH A DISABILITY WHO NEEDS AN ACCOMMODATION IN ORDER TO PARTICIPATE IN THIS MEETING YOU ARE ENTITLED TO THE PROVISION OF CERTAIN ASSISTANCE. PLEASE CONTACT THE PELICAN BAY SERVICES DIVISION AT (239) 597-1749. 4/29/20211:38 PM BUDGET COMMITTEE PELICAN BAY SERVICES DIVISION APRIL 7, 2021 The Budget Committee of the Pelican Bay Services Division met on Wednesday, April 7 at 1 *00 p.m. at the Club Pelican Bay, 707 Gulf Park Drive, Naples, Florida. In attendance were: Budget Committee Nick Fabregas Michael Fogg, Chairman Denise McLaughlin Joe Chicurel Pelican Bay Services Division Staff Kazin Herrmann, Operations Analyst Neil Dorrill, Administrator Lisa Jacob, Project Manager Chad Coleman, Operations Manager Barbara Shea, Administrative Assistant Darren Duprey, Assoc. Project Mgr. (absent) Also Present Mazk English, PBPOA Jack Cullen, PBSD Board Susan O'Brien, PBSD Board APPROVED AGENDA (AS PRESENTED) 1. Pledge of Allegiance 2. Roll call 3. Agenda approval 4. Approval of 01/22/2021 meeting minutes 5. Audience Comments FY 2021 Forecast vs. Budget FY 2021/2022 Budget a. Fund 109 b. Fund 778 c. Fund 320 d. Fund 322 8. Capital Projects/Financing and Assessments 9. Other Committee Comments 10. Adjourn ROLL CALL All members were present and a quorum was established. Pelican Bay Services Division Budget Committee Meeting Apri17, 2021 Ms. McLaughlin motioned, Mr. Fabregas seconded to approve the agenda as presented. The motion carried unanimously. APPROVAL OF 1/22/2021 MEETING MINUTES Mr. Fogg motioned, Ms. McLaughlin seconded to approve the 1/22/2021 mceting minutes as presented. The motion carried unanimously. AUDIENCE COMMENTS Ms. O'Brien commented on (1) the reduction of scaevola removal from $110,000 to $75,000 in the most recent revision to the proposed FY2022 budget, (2) the proposed FY2022 assessment for Fund 320 is $57.50/ERU, or an increase of 43% over the FY2021 budget, (3) the $150,000 annual Clam Bay contribution from the County could be shown as revenue to Fund 320, which would reduce the Fund 320 assessment to $36/ERU, (4) FY2022 budgeted expenses in Fund 109 exceed budgeted revenue by $950,000 (similar to FY2021), (5) our projected annual assessment is on track to increase approximately 73% over the next ten years, and (6) in the recent past, PB residents have expressed a desire for the PB SD to develop a long-term capital plan, funded by long-term financing. FY 2021 FORECAST VS. BUDGET Mr. Fogg provided and discussed staff s best estimates of FY2021 forecast vs. budget for Fund 109 for personal services, operating expenses and capital outlay. FY 2021/2022 BUDGET Mr. Fogg commented that our preliminary budget submission is due in the County Budget Office on May 6. Board of County Commissioners Budget workshops will be held in June. He noted that we are targeting a maximum assessment for FY2022 of $800/ERU which would be a 5.2% increase from FY2021. The County is expecting a 2% increase in overall ad valorem taxes. The combination of these two, would result in an increase of approximately 4.9% to PB residents. FUND 109 Mr. Fogg and the committee reviewed the preliminary FY2022 Fund 109 line -item budget. Mr. Fogg suggested that our budgeted operating expenses need to be reduced by $300,000 and our personal services may be reduced by up to $100,000. He noted that we tend to overestimate budgeted expenses, which results in a carryover each year. FUND 778 Mr. Fogg and the committee reviewed the preliminary FY2022 Fund 7781ine-item budget. Mr. Fogg noted the budget for the replacement of our bucket truck (for streetlights) is approx. $156,000. Mr. Fogg suggested, and the committee agreed, to transfer the surplus of $446,700 in this account to Fund 322 to help fund our capital projects. Mr. Fogg suggested that we hire a consultant to determine the remaining life expectancy of our streetlight poles. Ms. O'Brien commented that an evaluation of our streetlight poles was 2 Pelican Bay Services Division Budget Committee Meeting April 7, 2021 completed in 2016. Mr. Dorrill recommended that we obtain an updated evaluation on the life expectancy of our streetlight poles, which could be obtained at a minimal cost. FUND 320 Mr. Fogg and the committee reviewed the preliminary FY2022 Fund 320 line -item budget. Mr. Fogg commented on approximately $189,000 of existing open purchase orders in FY2021 Fund 320. He suggested that staff provides the committee with a description/purpose/timeframe for each of these purchase orders. Mr. Fogg commented that the PBSD receives $150,000 annually from the County for expenses related to Clam Bay, which is recorded and spent out of a designated cost center in Fund 111. Mr. Dorrill commented that it would be helpful if these funds could be transferred into our Clam Bay Fund 320, and he will follow up on this issue with the County Budget Office. Mr. Coleman commented that the total estimated cost of our scaevola removal project is $180,000 (for scaevola removal, plant replacement, and maintenance); $75,000 of this project has been included in the Fund 320 FY2022 budget. Mr. Dorrill suggested that we request an additional $75,000 from the County, for a total annual contribution of $225,000 (into Fund 111). He will follow up with the County Budget Office, FUND 322 Mr. Fogg and the committee reviewed the preliminary FY2022 Fund 322 line -item budget. For each project, Mr. Fogg reviewed the current estimated balance, the 09/2021 estimated balance, and the FY2022 estimated spending. Highlights of this discussion included the following: • The costs of building materials over the past year have dramatically increased. If bids received for our Operations Building replacement project are much higher than expected, then we may delay the start of construction to a future time when hopefully costs have declined. • The current budget of $2 million for beach renourishment may not all be necessary. Mr. Coleman commented that beach renourishment must be financed through assessments, not through financing. • The County's estimate of $250,000 debt service may be a higher than needed estimate. • The committee agreed that funds in projects with no FY2022 estimated spending, including Landscape Improvement, Lake Aeration, Hurricane Irma, and PBSD Asset Management, should be transferred into other active projects. Mr. Dorrill agreed. • Approximately $450,000 will be transferred from Fund 778 to Fund 322 in FY2022. • Mr. Fogg estimates financing of $3 - $4 million will be required in FY2022. FINANCIAL STATEMENTS Mr. Fogg commented that our final payment of approximately $251,000 for our sign project in FY2021 does not appear on our monthly financial statements. Mr. Coleman will follow up with Clerk's Finance and obtain updated March financial statements. CAPITAL PROJECTS/FINANCING AND ASSESSMENTS A capital management plan/schedule of estimated fund requirements for our projects, required financing, and debt service over the next ten years was provided in the agenda packet. In preparation of the schedule, Mr. Fogg assumed that all of our financing would be for a period of ten years. Ms. McLaughlin commented that to her recollection, OMB Director Mark Isackson Pelican Bay Services Division Budget Committee Meeting April 7, 2021 indicated that our financing would be paid back over seven years. Staff will follow up with the Budget Dept. to determine whether the length of our debt payback will be over seven or ten years. Mr. Mark English, PB Property Owners Assoc., commented on financing long-term capital projects with long-term financing, and recommended competitively bidding out long-term bonds in the open market for our financing needs. Mr. Dorrill commented on the high cost of issuance (approximately $500,000) if the PBSD were to pursue this idea. Mr. Coleman noted that the County OMB Director has recommended our obtaining financing through the Florida Local Government Finance Commission. Mr. Dorrill suggested that Mr. English attends the public June Board of County Commissioners Budget Workshop to voice his opinion. Mr. Dorrill also commented that he would provide additional information on the FL Local Government Finance Commission financing to Mr. English. The meetine was adjourned at 3:05 Michael Fogg, Chairman Minutes approved �] as presented OR ( � as amended ON � 1 date Proposed 21/22 Assessments 04/28/21 ERU A/C 109 $551 $519 (see schedule) 320 25 37 (1) 322 184 240 (see schedule) +4 $760 $796 4.7% Ad Valorem $669.4M. $656.4M 2.0% (A/C 778) ERU Equiv. $86 $88 Total 1. Low carry/forward #projected for 21/22 -expenses $88M lower in 21 /22 A/C 109 Budgets and Forecast 20/21 Budget 20/21 Fct (a) Personal Services 23007,200 179710800 Operating Expenses. 2,442,200 Capital Outlay. 160,800 496109200 County Transfers 234,400 Reserves 2,245,800 143,600 4,361200 234,400 04/28/21 21/22 Budget (b) (b/a) 2,049,000 +3.9% (1) 2,360.500 +6.0% (2) 177,500 4,587,000 +5.6% 215, 700 (268,700) (3) 19, 000 4,844,600 4,595,600 4,553,000 1. 20/21 Run Rate $1.85M (2049/1971 = 4.0%) 2. 20/21 Run Rate $1.75M (2381/1750 = 36.1 %) - significant amount in "Commitments" 3. Reserve For Capital Outlay Not Needed. Contingencies 124,100 125,500 Disaster Relief 680,900 680,600* Capital Outlay 300,000 721800"* Cash Reserve 483,600 4721200 Attrition (433900) 1,588,600. 1,307,500 * To be transferred to a/c 322* = General reserve, capital budgeted elsewhere 21/22 A/C 109 Proposed Budget Projected C/O from 20/21 Interest Income Transfer from A/C 322 21/22 budget expenses Net Assessment Needed Gross Assessment Needed Gross Assessment - $ 518.5 per ERU (000) $ 722 24 34 780 41553 31773 $ 3971 Fund Detail Proforma Summary Grouped By Commitment Item Collier County Government Fiscal Year 2022 FY 2020 FY 2021 FY 2021 FY 2021 FY 2022 FY 2022 FY 2022 Adopted Actual Adopted Amended Forecast Current Expanded Budget % Change 109 Pelican Bay Beautification MSTBU Expenditures 512100 Regular Salaries 1,003,272 11092,099 1,0923099 1,091,800 1,1303698 0 1,130,698 3.53 512500 Auto Use Benefit 279 0 0 800 0 0 0 N/A 512600 ER 457 Deferred Comp 81362 71370 7,370 10,500 91370 0 91370 27.14 512800 Taxable Deposit 25-30 21045 0 0 0 0 0 0 N/A 514100 Overtime 207,678 237,100 2373100 219,600 227,700 0 227,700 -3,96 515000 Vacation Sell Back 0 21723 21723 31000 4,104 0 41104 50.72 518100 Termination Pay 8,888 0 0 0 0 0 0 N/A 519100 Reserve For Salary Adjustment 0 41,231 41,231 0 32,175 0 32,175 -21.96 521100 Social Security Matching 87,513 87,455 87,455 94,200 89,979 0 89,979 2.89 522100 Retirement Regular 111,899 121,077 121,077 133,900 132,840 0 132,840 9.72 522800 Allowable Taxable Deposit 25-30 -2,045 0 0 0 0 0 0 N/A 523150 Health Insurance 335,491 33%814 339,814 339,800 3393814 0 3390814 0,00 523152 Dental Insurance 120805 120970 123970 12,900 12,970 0 12,970 0.00 523153 Short Term Disability Ins 2,561 21594 2,594 20600 2,594 0 21594 0,00 523154 Long Term Disability Ins 5,122 51188 51188 5,200 51188 0 5,188 0.00 523160 Life Insurance Short- Long Term 31048 3,179 3,179 3,t00 31268 0 31268 2.80 524100 Workers Compensation Regular 503800 543400 543400 543400 583300 0 58,300 7,17 528200 Allowance Vehicle -279 0 0 0 0 0 0 N/A 631400 Engineering Fees 48,038 110,000 110,000 46,200 40,000 0 40,000 -63.64 634207 IT Capital Allocation 800 263400 260400 26,400 25,500 0 25,500 -3.41 634210 Info Tech Automation Allocation 34,600 43,000 43,000 43,000 53,300 0 533300 23.95 634211 IT Billing Hours Allocation 200 400 400 400 500 0 500 25.00 634212 IT Microsoft Office Allocation 900 0 0 0 0 0 0 N/A 634251 Flood Control Swale Mainl 150,215 200,000 200,000 256,000 200,000 0 200,000 0,00 634253 Flood Control Water Use Chg 106,421 116,800 116,800 88,000 88,000 0 88,000 -24.66 634255 Flood Control Water City Test 0 29,200 29,200 0 0 0 0 -100.00 634805 Emergency Maint And Repair 0 93800 9,800 23500 21500 0 21500 -74,49 634970 Indirect Cost Reimbursement 119,300 121,400 121,400 121,400 136,100 0 136,100 12,11 634980 Interdept Payment For Sew 22,773 0 0 0 0 0 0 N/A 634990 Landscape Incidentals 6,017 23600 2,600 21400 2,600 0 21600 0.00 634999 Other Contractual Services 111,71E 130,100 130,100 141,600 190,900 0 190,900 46.73 639964 Storage Contractor 661 700 700 700 500 0 500 -28.57 639966 Pest Control 0 500 500 300 500 0 500 0.00 639967 Temporary Labor 379,760 454,000 467,000 433,100 434,000 0 434,000 -4.41 640300 Out Of County Travel Prof Devel 0 500 500 0 500 0 500 0.00 640410 Motor Pool Rental Charge 192 0 0 0 0 0 0 N/A 641100 Telephone Base Cost 0 700 700 0 0 0 0 -100,00 641150 Telephone Beepers Base Cost 698 0 0 800 800 0 800 N/A 641400 Telephone Direct Line 21900 41600 4,600 2,200 20400 0 21400 -47.83 641600 Telephone Extras -31 0 0 0 0 0 0 N/A 641700 Cellular Telephone 91634 8,500 82500 13,800 13,800 0 13,800 62.35 641950 Postage Freight And Ups 80 20200 21200 400 800 0 800 -63.64 643100 Electricity 21152 3,600 31600 20400 2,500 0 23500 -30.56 643300 Trash and Garbage Disposal 15,358 28,200 28,200 16,700 18,000 0 18,000 -36.17 643400 Water And Sewer 138 0 0 0 0 0 0 N/A 644100 Rent Buildings 273326 70,000 70,000 27,400 60,000 0 60,000 -14,29 644600 Rent Equipment 21590 7,600 7,600 3,100 3,500 0 3,500 -53,95 645100 Insurance General 17,000 183200 18,200 183200 183600 0 180600 2.20 645260 Auto Insurance 12,100 133900 13,900 131900 123100 0 12,100 -12.95 645920 Insurance Claims 639 0 0 0 0 0 0 N/A 646110 Building R And M Outside 110 1,000 11000 0 0 0 0 -100,00 Vendors 646180 Building R And M ISF Billings 123640 4,000 4,000 300 2,500 0 21500 -37.50 646311 Sprinkler System Maintenance 45,351 35,000 35,000 51,900 52,000 0 52,000 48,57 646314 Maintenance Landscaping 673464 86,000 86,000 87,000 90,000 0 900000 4.65 646319 Tree Trimming 331,646 347,100 347,100 235,400 261,000 0 261,000 -24.81 646320 Landscape Materials 157,397 172,000 172,000 155,000 165,000 0 165,000 -4,07 646381 Road And Bikepath Repairs 12,878 13,000 13,000 91000 25,000 0 25,000 92,31 GovMax 1 4127/2021 Fund Detail Proforma Summary Grouped By Commitment Item Collier County Government Fiscal Year 2022 FY 2c2o FY 2021 FY 2021 FY 202I FY 2822 FY 2022 FY 2822 Adopted Actual Adopted Amended Forecast Current Expanded Budget h Change 646410 Aulosrrrucks Rm Outside 0 12000 13000 0 0 0 0 -100.00 Vendors 646430 Fleet Malnl ISF Labor And 55,176 82,600 82,600 82,600 49,900 0 49,900 -39,59 Overhead 646440 Fleet Maint ISF Parts and Sublet 22,650 38,200 38,200 38,200 190000 0 19,000 -50.26 646445 Fleet Non Mainl ISF Parts and 21728 10,100 10,100 10,100 23900 0 2,900 -71,29 Sublet 646810 Boat R And M 18 400 400 0 0 0 0 -100,00 646970 Other Equip Repair Maintenance 61303 91100 %100 93100 91100 0 9,100 0.00 647110 Printing Binding Outside Vendors 1,968 2,000 2,000 200 1,300 0 1,300 -35.00 649000 Sales Tax Expense -2 0 0 0 0 0 0 N/A 649010 Licenses And Permits 1,154 500 500 500 21500 0 2,500 400.00 649030 Clerks Recording Fees Etc 0 1,600 1,600 100 8,500 0 8,500 431.25 649100 Legal Advertising 0 41200 43200 33500 5,000 0 5,000 19,05 651110 Office Supplies General 71364 61000 63000 23800 3,500 0 31500 -41,67 651930 Minor Office Furniture 0 1,500 13500 1,000 16,000 0 16,000 966.67 651950 Minor Data Processing 0 12000 11000 100 500 0 500 -50.00 Equipment 652110 Clothing And Uniform Purchases 2,656 500 500 300 500 0 500 0,00 652130 Clothing And Uniform Rental 18,718 15,500 15,500 21,400 22,000 0 22,000 41,94 652140 Personal Safety Equipment 41479 41800 41800 61200 5,200 0 53200 8.33 652310 Fertilizer Herbicides And 144,981 220,000 220,000 220,000 2207000 0 220,000 0.00 Chemicals 652490 Fuel and Lubricants ISF Billings 327204 370600 37,600 12800 42,400 0 42,400 12.77 652910 Minor Operating Equipment 63585 11,500 113500 8,000 15,000 0 15,000 30,43 652920 Computer Software 0 900 900 0 800 0 800 -11.11 652990 Other Operating Supplies 34,102 17,500 17,500 22,900 23,000 0 23,000 31.43 652999 Painting Supplies 0 500 500 0 500 0 500 0.00 653710 Traffic Signs 21827 20,000 203000 153000 61000 0 6,000 -70,00 654110 Books Publ & Subscriptions 0 100 100 0 0 0 0 -100.00 654360 Other Training Ed Exp 374 2,500 21500 21500 4,000 0 4,000 60.00 764110 Autos And Trucks 62,889 100,000 100,000 95,000 85,000 0 85,000 -15,00 764900 Data Processing Equipment 0 2,800 21800 0 1,500 0 1,500 -46.43 764990 Other Machinery And Equipment 107,165 58,000 58,000 48,600 91,000 0 91,000 56.90 913010 Transfer to 301 County Wide CIP 0 0 0 0 5,900 0 5,900 N/A 914080 Transfer to 408 Water/Sewer Op 200800 23,100 23,100 23,100 23,100 0 23,100 0.00 930600 Budget Transfers Property 1010359 84,500 84,500 84,500 85,000 0 85,000 0.59 Appraiser 930700 Budget Transfers Tax Collector 73,038 126,800 126,800 1263800 130,700 0 130,700 3.08 991000 Reserve For Contingencies 0 124,100 124,100 0 125,500 0 125,500 1.13 991700 Reserve For Disaster Relief 0 680,900 680j900 0 680,900 0 680,900 0,00 992100 Reserve For Attrition - Salary 0 -31,600 -31,600 0 -43,900 0 -43,900 38.92 Savings 993000 Reserve For Capital Outlay 0 3003000 300,000 0 72,800 0 72,800 -75,73 998000 Reserve For Cash Balance (Ch 0 4833600 483,600 0 472,200 0 472,200 -2,36 129.01 F.S. Revenues 325100 Special Assessments 4,668,657 4,224,600 41224,600 430553616 31971,000 0 3,971,000 -6.00 331220 Fed Em Mgt Agency (FEMA) 11762 0 0 0 0 0 0 N/A 334225 FEMA Public Safety -881 0 0 0 0 0 0 N/A 361170 Interest SBA 17,603 0 0 0 0 0 0 N/A 361180 Investment Interest 46,562 24,400 24,400 0 23,100 0 23,100 -5,33 361320 Interest Tax Collector 11788 0 0 0 0 0 0 N/A 364410 Surplus Furniture Fixtures Equip 263675 0 0 0 0 0 0 N/A Sale 365901 Other Scrap Sales 850 0 0 0 0 0 0 N/A 366900 Contributions Private Source 21600 0 0 0 0 0 0 N/A 369130 Ins Co Refunds 21200 0 0 0 0 0 0 N/A 481320 Transfer From 320 Clam Bay 36,900 343100 34,100 342100 34,100 0 34,100 0.00 Restoration 486600 Transfer From Property 19,501 0 0 0 0 0 0 NIA Appraiser 486700 Transfer From Tax Collector 223023 0 0 0 0 0 0 NIA GovMax 2 4/27/2021 Fund Detail Proforma Summary Grouped By Commitment Item Collier County Government Fiscal Year 2022 FY 2020 FY 2021 FY 2021 FY 2021 FY 2022 FY 2022 FY 2022 Adopted Actual Adopted Amended Forecast Current Expanded Budget % Change 489200 Carryforward 2,217,300 2,439,400 2,439,400 21816,900 2,311,000 0 2,3111000 -5,26 489201 Carry Forward Of Encumb Amt 0 0 13,000 0 0 0 0 N/A 489900 Less 5% Required By Law 0-212,500 -212,500 0 -200,000 0 -200,000 -5.88 Fund Total Expenditure: Fund Total Revenue: 412461634 710639540 635101000 61510,000 6,523,000 615230000 4,595,600 6061616 6,139,200 6,139,200 0 0 601392200 6,139,200 -5.70 -5.70 Fund Balance: 2,8160906 0 0 21311,016 0 0 0 N/A 320 Clam Bav Restoration Expenditures 631400 Engineering Fees 28,819 0 139,520 139,500 106,100 0 106,100 N/A 634999 Other Contractual Services 96,431 75,000 107,467 107,500 35,000 0 35,000 -53,33 646319 Tree Trimming 0 75,000 80,000 80,000 85,000 0 85,000 13.33 652990 Other Operating Supplies 176 0 4,553 41600 0 0 0 N/A 911090 Transfer to 109 Pei Bay 36,900 340100 340100 34,100 34,100 0 34,100 0,00 MSTUBU 930600 Budget Transfers Property 3,956 3,300 31300 31300 81900 0 81900 169.70 Appraiser 930700 Budget Transfers Tax Collector 3,479 6,000 63000 61000 13,100 0 13,100 118.33 Revenues 325100 Special Assessments 191,039 0 0 180,500 288,500 0 288,500 N/A 325200 Special Assessment - Capital 0 188,000 188,000 0 0 0 0 -100,00 3611701nterest SBA 13138 0 0 200 0 0 0 N/A 361180 Investment Interest 31254 100 100 500 100 0 100 0,00 361320 Interest Tax Collector 92 0 0 0 0 0 0 N/A 486700 Transfer From Tax Collector 901 0 0 0 0 0 0 N/A 489200 Carryforward 1753200 0 0 201,900 8,100 0 81100 N/A 489201 Carry Forward Of Encumb Amt 0 14,700 196,240 0 0 0 0 -100.00 489900 Less 5 % Required By Law 0 -9,400 -91400 0 -14,500 0 -14,500 54,26 Fund Total Expenditure: 169,762 193,400 3743940 375,000 282,200 0 282,200 45.92 Fund Total Revenue: 371,624 193,400 374,940 3833100 282,200 0 282,200 45.92 Fund Balance: 201,862 0 0 62100 0 0 0 N/A GovMax 3 4/27/2021 21/22 A/C 322 - Projects, Assessment and Financing (000) Funded Assessment Financing Project Bal Beach Renourishment 560 2,078 Operations Building 438 338 3,500 Sidewalks 51130 63000 Street Signs 150 150 Lake Bank Restoration 159 2,000 Roadway Safety 79 100 Debt Service 275 Transfers To County 86 Net Assessment 1747 Gross Assessment 1839 Gross Assessment - $240 per ERU * Need to borrow $6.Om because of timing differences among project expenses, assessment revenue receipts and county contribution. 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( } ( \ § § \ kwa\� m . a§»!® ® k/0 )z 49 [[ m: k;�;f!{$ ®\} / 2!!7i Fund Detail Proforma Summary Grouped By Commitment Item Collier County Government Fiscal Year 2022 FY 2020 FY 2021 FY 2021 FY 2021 FY 2022 FY 2022 FY 2022 Adopted Actual Adopted Amended Forecast Current Expanded Budget % Change 322 Pelican Bay Irr & Lndscg Expenditures 631400 Engineering Fees 103,467 150,000 224,495 223,200 0 0 0 -100.00 631401 Engineering Fees Design 106,067 0 208,933 238,400 0 0 0 N/A 634251 Flood Control Swale Maint 942,787 0 25,743 25,700 0 0 0 N/A 634999 Other Contractual Services 496,692 13335,000 21660,320 2,232,300 21038,400 0 2,0383400 62.69 644600 Rent Equipment 0 0 50 0 0 0 0 N/A 646110 Building R And M Outside 15,172 0 0 0 0 0 0 N/A Vendors 646320 Landscape Materials 0 150,000 526,531 3,900 0 0 0 -100.00 653710 Traffic Signs 0 0 95,971 96,000 150,000 0 150,000 N/A 763100 Improvements General 0 2,691 p800 330653528 335403100 11531,200 0 11531,200 -43,12 930600 Budget Transfers Property 15,675 28,200 28,200 28,200 30,700 0 30,700 8.87 Appraiser 930700 Budget Transfers Tax Collector 35,858 42,300 42,300 42,300 55,200 0 55,200 30,50 991700 Reserve For Disaster Relief 0 0 0 0 160,000 0 1603000 N/A 992090 Reserve For Future Debt Service 0 370,000 3709000 0 2753000 0 2753000 -25.68 993000 Reserve For Capital Outlay 0 0 0 0 402,100 0 402,100 N/A Revenues 325100 Special Assessments 759,099 1,4093200 13409,200 1,352,800 1,839,100 0 1,839,100 30,61 331220 Fed Em Mgt Agency (FEMA) 169,129 0 0 0 0 0 0 N/A 334225 FEMA Public Safety -11759 0 0 0 0 0 0 NIA 361170 Interest SBA 183541 0 0 21900 0 0 0 N/A 361180 Investment Interest 55,743 13,300 13,300 13,100 9,500 0 91500 -28.57 361320 Interest Tax Collector 10196 0 0 0 0 0 0 N/A 369130 Ins Co Refunds 18,025 0 0 689,200 0 0 0 N/A 481111 Transfer From 111 Uninc Area 520,000 520,000 5209000 520,000 520,000 0 520,000 0.00 MSTD Gen Fd 481778 Transfer From 778 Pet Bay 0 23061,800 2,061,800 21061,800 4403000 0 4403000 -78,66 Street Lighting 486700 Transfer From Tax Collector 3,581 0 0 0 0 0 0 N/A 489200 Carryforward 3,752,600 834,100 834,100 30716,700 1,9267400 0 1,926,400 130.96 489201 Carry Forward Of Encumb Aml 0 0 21480,770 0 0 0 0 N/A 489900 Less 5% Required By Law 0 -71,100 -71,100 0 -923400 0 -92,400 29.96 Fund Total Expenditure: 13715,718 4,767,300 732483071 61430,100 4,642,600 0 41642,600 -2,62 Fund Total Revenue: 51296,155 4,767,300 7,2483070 81356,500 4,642,600 0 43642,600 -2.62 Fund Balance: 33580,436 0 -1 11926,400 0 0 0 N/A 778 Pelican Bay Light Expenditures 512100 Regular Salaries 44,209 65,028 65,028 66,100 66,447 0 66,447 2.18 512600 ER 457 Deferred Comp 303 530 530 600 530 0 530 0.00 514100 Overtime 73115 61300 6,300 61900 61900 0 6,900 9,52 515000 Vacation Sell Back 0 160 160 200 504 0 504 215.00 518100 Termination Pay 41321 0 0 0 0 0 0 N/A 519100 Reserve For Salary Adjustment 0 21029 2,029 0 1,486 0 1,486 -26,76 521100 Social Security Matching 41041 51178 5,178 51400 51271 0 5,271 1.80 522100 Retirement Regular 4,933 73053 7,053 71400 7,637 0 71637 8.28 523150 Health Insurance 183209 13,886 13,886 13,900 13,886 0 13,886 0,00 523152 Dental Insurance 695 530 530 500 530 0 530 0.00 523153 Short Term Disability Ins 139 106 106 100 106 0 106 0.00 523154 Long Term Disability Ins 278 212 212 200 212 0 212 0.00 523160 Life Insurance Short - Long Term 225 188 188 200 191 0 191 1,60 524100 Workers Compensation Regular 11900 23400 2,400 2,400 11800 0 11800 -25.00 631400 Engineering Fees 0 10,000 103000 0 53000 0 51000 -50.00 634210 Info Tech Automation Allocation 400 600 600 600 500 0 500 -16,67 634805 Emergency Maint And Repair 0 9,600 93600 0 21500 0 21500 -73.96 634970 Indirect Cost Reimbursement 10,000 10,000 103000 103000 91800 0 90800 -2.00 GovMax 4 4/27/2021 Fund Detail Proforma Summary Grouped By Commitment Item Collier County Government Fiscal Year 2022 FY 2020 FY 2021 FY 2021 FY 2021 FY 2022 FY 2022 FY 2022 Adopted Actual Adopted Amended Forecast Current Expanded Budget % Change 634999 Other Contractual Services 36,303 37,800 37,800 37,800 37,800 0 37,800 0.00 639964 Storage Contractor 661 700 700 700 500 0 500 -28.57 639967 Temporary Labor 383099 41,600 43,600 43,200 43,600 0 430600 4.81 641100 Telephone Base Cost 0 300 300 0 0 0 0 -100,00 641150 Telephone Beepers Base Cost 300 0 0 400 400 0 400 N/A 641400 Telephone Direct Line 945 2,000 2,000 800 800 0 800 -60,00 641700 Cellular Telephone 0 10000 11000 0 0 0 0 -100.00 641900 Telephone Sys Support 46 0 0 0 0 0 0 N/A Allocation 641950 Postage Freight And Ups 0 500 500 200 200 0 200 -60.00 643100 Electricity 23,523 32,300 32,300 25,200 26,000 0 26,000 -19.50 644100 Rent Buildings 133227 35,000 35,000 13,700 15,000 0 15,000 -57.14 644600 Rent Equipment 12110 2,400 21400 13900 21000 0 21000 A6.67 645100 Insurance General 1,700 1,500 1,500 10500 1,400 0 1,400 -6.67 645260 Auto Insurance 900 900 900 900 900 0 900 0,00 646110 Building R And M Outside 0 500 500 0 0 0 0 -100.00 Vendors 646430 Fleet Maint ISF Labor And 11860 41400 42400 4,400 11400 0 1,400 -68,18 Overhead 646440 Fleet Maint ISF Parts and Sublet 3,762 4,400 40400 41400 900 0 900 -79,55 646445 Fleet Non Maint ISF Parts and 204 6,600 61600 62600 200 0 200 -96.97 Sublet 646970 Other Equip Repair Maintenance 137 500 500 0 500 0 500 0,00 651110 Office Supplies General 687 1,300 13300 0 800 0 800 -38.46 652140 Personal Safety Equipment 793 11000 11000 10100 1,1o0 0 11100 10.00 652490 Fuel and Lubricants ISF Billings 253 500 500 500 300 0 300 -40,00 65299001her Operating Supplies 21055 11600 1,600 21000 21000 0 2,000 25.00 652992 Electrical Contractors 47,477 60,000 60,000 0 26,000 0 26,000 -56,67 652993 Light Bulbs Ballast 23606 25,000 25,000 15,000 15,000 0 15,000 -40.00 764110 Autos And Trucks 0 0 0 0 156,000 0 1560000 N/A 764900 Data Processing Equipment 0 1,400 1,400 0 500 0 500 -64.29 913220 Transfer to 322 Pei Bay Irr And 0 21061,800 2,061,800 23061,800 440,000 0 440,000 -78.66 Landsc 930600 Budget Transfers Property 0 12,600 12,600 12,600 12,000 0 12,000 -4.76 Appraiser 930700 Budget Transfers Tax Collector 11,753 18,800 18,800 18,800 17,000 0 17,000 -9.57 991000 Reserve For Contingencies 0 91900 90900 0 11,400 0 113400 15.15 993000 Reserve For Capital Outlay 0 900000 900000 0 26,900 0 26,900 -70,11 998000 Reserve For Cash Balance (Ch 0 39,700 39,700 0 39,700 0 39,700 0.00 129.01 F.S. Revenues 311100 Current Ad Valorem Taxes 581,769 656,400 6560400 630,100 669,400 0 669,400 1.98 311200 Delinquent Ad Valorem Taxes 3,732 0 0 0 0 0 0 N/A 361170 Interest SBA %060 0 0 12500 0 0 0 N/A 361180 Investment Interest 26,455 173700 17,700 4,200 3,600 0 31600 -79.66 361320 Interest Tax Collector 314 0 0 0 0 0 0 N/A 369130 Ins Cc Refunds 200 0 0 0 0 0 0 N/A 369620 Miscellaneous Revenue 11049 0 0 0 0 0 0 N/A 486700 Transfer From Tax Collector 21772 0 0 0 0 0 0 N/A 489200 Carryforward 1,756,300 11989,400 1,9891400 2,096,500 364,300 0 364,300 -81.69 489201 Carry Forward Of Encumb Amt 0 0 2,000 0 0 0 0 N/A 489900 Less 5 % Required By Law 0 -33,700 -33,700 0 -33,700 0 -33,700 0,00 Fund Total Expenditure: 285,171 21629,800 21631,800 21368,000 11003,600 0 11003,600 -61.84 Fund Total Revenue: 2,381,651 21629,800 23631,800 21732,300 11003,600 0 1p003,600 -61.84 Fund Balance: 21096,480 0 0 364,300 0 0 0 N/A GovMax 5 4/27/2021 ! - ! • § § § ! ; § ; § § ! ■ i ; ; | �! r ,46 a 0; ■ $|;§! ! § E ! ! §§_ ! ] ; § N \!! ! ,r!!!!�| E!§] \\/wM §w [ ) /) w{\!\r! I in�\\\ ! 0m04r Financing Options Discussed With County 04/23/21 Medium Term Assessment Increase $300+300+300 = $6.8mm +Limited short term variable debt Gets it over with Least interest cost Does not match benefits of spending with assessment very well Short Term Commercial Paper Five year term with roll-over option Interest around 2% Upfront costs minimal, only on money drawn Flexible repayment Recommended for construction period and to cover estimate fallibility Fixed Bank Loan 10 years duration likely, 15 maybe (higher cost) Up front cost medium - $40m Current interest cost 2.5 - 2.9% Bid to multiple Banks Something similar done on east coast recently Banks active in this market in recent years 10 year with 20 year amortization possible, rate reset after 10 years Quick to set up - 2 months Interest cost attractive Better matches benefits with assessment Public Debt Offering 20 years on $7.0mm loan (10 year pre -pay option) Up front cost highest, $100m Interest cost about the same (longer duration) Collier County has only issued one 30 year bond in recent years Highest overall interest cost Highest up front cost Most complicated to set up, takes time. Best matches benefits with assessment Could lock in attractive low rate Long term impact on assessment locked in Timing Interest rates at all time low, so action not urgent at present But locking in long term rate might be beneficial soon. Commercial paper and bank loan interest rates will probably move in tandem. Longer term rates might rise faster if its expected, inflation rises.