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Backup Documents 02/06/2024 Item # 2D 1 (Budget Policy Discussion for FY25)FY 2025 February Workshop Budget Policy Discussion Collier County Board of County Commissioners- February 6t", 2024 FY 2025 Budget Timeline Priority Based Budgeting Approach 2 What are Budget Funding Overview we doing Budget Policy Discussion today.? Next Steps FY 2024/2025 Collier County Budget Timeline Strategic 6/14/24 - FY Plan, AUIR, 25 Budget Budget Policy Workshop Workshop Document 2/6/24 to Board MR Adopt 6/20/24 and FY 25 6/21/24 Budget FY 2025 Policy Priority- 3/12/24 Based Budgeting Workshop 7/1/24 Certification of Taxable Property Values by Property Appraiser (DR 420 Forms) Starts FY 25 TRIM Process 7/9/24 Board Adopts Proposed Millage Rates( the Maximum Property Tax Rates to be Levied in FY 25 On or about 8/4/24 (Within 35 days from Certification) County Provides Property Appraiser with Millage Rates, Rolled Back Rates, Info for 1 It Public Jul Aug On or before 7/15/24 8/24/24 (55 Tentative FY days from 25 Budget by Certificatio Fund to n) Board with Property Change Log Appraiser Mails TRIM Notices 9/5/24 1It Public Budget Hearing / Adopt Proposed Millage Rates and Tentative FY 25 Budget Value Adj. Board Petition Filing Deadline Sep Usually 2nd Friday of September 10/6/24 Submit TRIM Compliance Package to DOR Oct Nov 9/19/24 2nd and Final Public Hearing, Adopt Millage Rates and FY 25 Budget (Resolution) 0 Priority - Based Budgeting Approach 5 Strategic approach to budgeting that aligns our financial resources with the strategic priorities of our organization. By connecting budget decisions to strategic goals and objectives, the county can achieve greater efficiency and effectiveness. on 1. Define Strategic Goals and Priorities (Feb Workshop) 4. Align Budget Data with Priorities (ResourceX / Staff) 2. Establish Prioritization Criteria (ResourceX / Staff) 5. Allocate Budget Based on Priorities (June Workshop) 3. Gather Budget Data (Staff) 6. Evaluate Effectiveness (ResourceX / Staff) More compelling budget proposals Alignment with priorities Optimized resources Backed by evidence Budeet Proposals Impact on Outcomes , Basic Program Attributes Line -item (resource) data Program Inventory Building Business Intelligence (Layering Data) 4* resourcek. Budget Overview FY 2024 Net Adopted Budget $1.,995..177..500 Reserves; $664,887,500 ; 34% Debt Service; $66,748,600 ; 3% Culture & Recreation; $104,830,500 ; 5% Parks, Library, Museums; TDC Beaches luman Services & Economic Environment; $37,658,800 ; 2% Comm & Human Serv; Eco Dev el; Domestic Animal Ctrl; Public Health; CRAB Transportatii-.— $183,856,500 ; Physical Environment; $379,095,700 ; 19% Water/Sewer District; Solid Waste; Stormwater, Beach Renourishment & Dredging General Government Serv.; $198,843,000 ; 10% Constitutional Officers; Facilities Mgt; Risk Mgt, Fleet, IT, Courts, Ad min Serv. Public Safety; $359,256,900 ; 18% Sheriff; EMS; Code Enforcement; Permitting/Zoning Sources of Current County Government Operating Revenues all Funds Budget $ 554,728,300 ax $ 74, 603,100 Sales Tax $ 30,313,400 >essments/Fine $ 78,272,200 ;evenues $ 17,532,100 rges $ 346,953,400 $ 59,868,000 ;ds/ Interest $ 21,638,900 je $ 1,183,909,400 Infrastructure Sales Tax 3% Gas/Sa 6° Ad Valorem 47% Permits/ Assessments/Fines Intergov'tal 7% Revenues 1% Service Charges 29% Bond Proceed / Interesi 2% Impact Fees 5% Ad Valorem Property Tax by Fund Budget ind $ 444,334,400 $ 11, 766, 700 on Collier $ 31,089,400 ontrol $ 3,647,000 -ated Area General Fun $ 63,890,800 ilorern t $ 554,728,300 General Fund 807 MSTU's 2% Conservation Collier 6% Pollution Control 170 Unincorporated Area General Fund 11 FY 24 General Fund (0001) Ad Valorem by Category ernmental Health, Safety, Welfare Sheriff Mental Health Health Dept. Emergency Svcs 3ger State Attorney it/Grants Public Defender k Internal Review Judges Mandates imal Svcs BCC Dept of Juv Justice (ices Medicaid Payment to State iinistration Facilities (Utilities) Seniors Reg. Planning Council ousing CRAB/Eco Dev & Innov Zones cs Beach Parking lex Supervisor of Elections mt Property Appraiser cts Tax Collector vcs Clerk of Courts ogy Courts Debt Service C-ARP Grants Special Obligation Bond cs avant. ipact Fees g & Resiliency Total $444,334,400 Health Safety Welfare $251,705,400 56.6% Gen Go, $130,443,--- 29.4% Mandates $57,320,900 12.9% bt Service 4,864,500 1.1% FY 24 Unincorporated General Fund (1011) Ad Valorem by Category Total$63,890,800 nmental Health, Safety, Welfare Ds Code Enforcement 3p Division of Forestry ce Ops Ochopee Fire District ce Cap Reserves Mandates Other G&A (Beach Pking & Ins Zoning, Land Devel, Comp Plan min Cable Admin n Coastal Zone Natural Resources tricts Pelican Bay MPO CRA's & Innov Zones Property Appraiser Tax Collector General Governr�-^*^' $44,78 70.' Health, Safety, Welfare $11,180,890 17.5% Mandates ;7,922,459 12.4% 14 Budget Policy Discussion Employee Compensation Health Insurance 15 Policy Operating Control Lines Discussion Millage Policy Options Capital Allocations Economic Factors FY 2025 Pay Plan Recommendation Aligned with Recommendation Board Strategic Priority December CPI 5.7 Miami/Ft. Lauderdale 5.2 Tampa/St. Petersburg Most Recent Florida Price Level Index Ranks Collier County Highest of 67 Counties 5% Adjustment (General Wage, Merit, Human Resources Recruitment and Pay Plan Maintenance) Retention to Position Collier County as an Employer of Choice Economic Factors 7.5% Healthcare Cost Increase for 2023 Healthcare Cost I ncrease for 2024 Expected between 6-9% Recommended Reserves $16.3 Million Required $22.5 Million Recommended to Achiev e 99% Certainty FY 2025 Recommended Health Care Increase 7% Adjustment to Employee and Employer Contribution Recommendation Aligned with Quality of Place Strategic Objective Support Access to Health, Wellness, and Human Services Establishing budget control lines is a critical step in preparation of a Priority Based Budget. w Establishes the Total Resources Available w Prioritization and Trade -Offs w Accountability and Transparency Recommendation - Establish a 3.5% Operating Control Line w Subject to Prioritization Recommendation Aligned with Responsible Governance Strategic Objective "Safeguard Taxpayer Money by Promoting Fiscal Stewardship and Sound Budget Oversight" Establish a Target Millage Rate Budgetary Requirement Millage Rate Calculated with Preliminary Taxable Value based on Budget Requirements within Established Control Lines w Program Adjustment or Funding Alignment may Result in Changes to Millage Rate Aligned with Responsible Governance Strategic Objective "Safeguard Taxpayer Money by Promoting Fiscal Stewardship and Sound Budget Oversight" w For FY 2025, it is recommended that MSTUs be limited to a millage rate sufficient to covercurrent budget year operations. Recommendation Aligned with Responsible Governance Strategic Objective "Safeguard Taxpayer Money by Promoting Fiscal Stewardship and Sound Budget Oversight" Recommended Reserves December CPI 5.7 Miami/Ft. Lauderdale 5.2 Tampa/St. Petersburg FY 2025 Recommended Capital Maintenance Adjustment 5% Adjustment to General and Unincorporated Area General Fund Capital Maintenance Transfers AD Recommendation Aligned with Infrastructure and Asset Management Strategic Objective Optimize the Useful Life of All Public Infrastructure and Resources through Proper Planning and Preventative Maintenance 22 E Strategic Plan Update will be Brought Back to the Board for Approval Budget Policy will be Brought Back to the Board for � Approval AUIR and CIP Adjustments will be Reflected in Annual Work Products Thank You County -Wide Capital Reserve County -Wide Capital Reserve History FY2020 FY2021 FY2022 FY2023 FY2024 Recommended FY2025 Adopted Budget $ 5,000,000 $ 9,000,000 $ 17,500,000 $ 35,800,000 $ 22,467,300 $ 27,467,300 YOYVariance $ 5,000,000 $ 4,000,000 $ 8,500,000 $ 18,300,000 $ (13,332,700) $ 5,000,000 ➢ Established in 2020 ➢ FY2023 Approved Transfers to FEMA Fund (1813) to Cashflow Hurricane IAN Recover Totaled $35 Million ➢ Current FY2024 Balance $22.5 Million ➢ FY 2025 Recommended Contribution $5 Million Recommendation Aligned with Infrastructure and Asset Management and Responsible Governance Strategic Objectives "Prepare for the Impacts of Natural Disasters on our Critical Infrastructure and Natural Resources" \ "Optimize the Useful Life of All Public Infrastructure and Resources through Proper Planning and Preventative Maintenance" "Safeguard Taxpayer Money by Promoting Fiscal Stewardship and Sound Budget Oversight"