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City of Key West

City of Key West. Stormwater Fund Fiscal Year 2008-09 1 st Quarter Budget Review. March 10, 2009. City of Key West Stormwater Fund. Focus on 2 Major Revenue Categories: 1) Stormwater Fees and Delinquencies 2) Capital Grants. City of Key West Stormwater Fund. Stormwater Fees

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City of Key West

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  1. City of Key West Stormwater Fund Fiscal Year 2008-09 1st Quarter Budget Review March 10, 2009

  2. City of Key West Stormwater Fund Focus on 2 Major Revenue Categories: 1) Stormwater Fees and Delinquencies 2) Capital Grants

  3. City of Key West Stormwater Fund Stormwater Fees 1st Quarter Stormwater revenues are at 95.6 % of budget. Delinquencies exceed the 10% budgeted revenue reserve for bad debt and willcreate a budget shortfall of 6.7% or $144,760 of budgeted revenue (if left unchecked).

  4. City of Key West Stormwater Fund Delinquent Accounts As of December 31, 2008 delinquent balances totaled $693,583. 97.6% were from 2 customers as follows: Airport $654,011 94.3% College $ 23,0543.3% Total $677,065 97.6% In January 2009 the School Board stopped paying $5,541 per month. The Airport, College, and School Board delinquent balances will grow by $22,497 per month or $253,341 for the year. Other delinquent accounts are expected to total $103,460. Delinquent balances will be $1 million by 9/30/09.

  5. City of Key West Stormwater Fund Delinquent Accounts (continued) Airport, College and School Board (key sites) represent ~13% of the revenue base. Additional customers are posturing to refuse payment. Failure to effectively address these issues will impact the utility’s ability to operate, match grants and construct needed infrastructure.

  6. City of Key West Stormwater Fund Stormwater Capital Grant SFWMD Capital Grant paid $400K. FDEP and ACOE are being billed for work completed for approximately $490K and $471K in the 2nd Quarter. Grant revenue will be at 85.6% early in the 3rd Quarter. No revenue shortfall is anticipated.

  7. City of Key West Stormwater Fund Corrective Action • Commission decision requiring resolution of Other Governments refusal to pay Stormwater Fees. • Meet with School Board Staff to demonstrate their stormwater impact to the community. • Recommend Commission authorize legal to pursue litigation with the Airport and College.

  8. City of Key West Stormwater Fund Corrective Action (continued) • Increase Utility Billing Collection efforts to include collection letters and Collection Agent at 120 days. • Continue to Pursue FKAA Utility Billing Outsource Opportunities. • Expenses are within 1st quarter budget and will be at or below annual budget.

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