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Schedule

Schedule. Part I – Regulations and Terminology May 17, 2011 Part II – Revenues June 7, 2011 Part III – Fund Descriptions June 21, 2011 Part IV – Prior Year Budget Reductions July 5, 2011 Part V – General Fund Workshop July 12, 2011

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Schedule

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  1. Schedule • Part I – Regulations and Terminology May 17, 2011 • Part II – Revenues June 7, 2011 • Part III – Fund Descriptions June 21, 2011 • Part IV – Prior Year Budget Reductions July 5, 2011 • Part V – General Fund Workshop July 12, 2011 • Part VI – General Fund, Capital Projects, Stormwater Workshop July 26, 2011 • Part VII – Set Proposed Millage Rate August 2, 2011 • Part VIII – Proprietary, Special Revenue, and Capital Project Funds August 9, 2011 • Part IX – Proposed Budget August 23, 2011

  2. Budget Schedule • September 14 – First public hearing and adoption of the tentative 2012 millage rate and budget • September 27 – Final public hearing and adoption of the final 2012 millage rate and budget

  3. OVERVIEW

  4. City Council Adopts • Millage Rate • Fund Appropriations • Estimated Revenues

  5. Budget Goals and Proposals • Shift revenue from Streets Improvement Fund to the Stormwater Fund • Diversify Stormwater funding • Reestablish millage rate for capital projects (Stormwater) • Lower millage rate from the proposed millage rate • Cut additional expenditures supported by property tax without major impact on services • No new taxes

  6. MILLAGE RATE

  7. Millage Rate History

  8. Impact onExisting Taxpayers • 2007-08 - $1,430,107 • 2008-09 - $3,423,342 • 2009-10 - $ 122,686 • 2010-11 - $2,969,115 • 2011-12 - $ 251,800 • 5-Year Decrease - $8,197,050

  9. 2012 MILLAGE RATE OPTIONS • Current Rate 3.5000 • Revenue Policy Operating Rate 3.9013 • Tentative Rate 3.9900 • Proposed TRIM Rate 4.0000 • Flat Property Tax Revenue Rate 4.0137 • Proposed Budget Rate 4.0552 • Rollback Rate 4.0552 • Majority Vote Rate 5.7636

  10. STAFFING

  11. GENERAL FUND

  12. Budget Comparison

  13. ENTERPRISE FUNDS

  14. Utility Capital Projects Fund 1 of 2

  15. Utility Capital Projects Fund 2of 2

  16. STORMWATER UTILITY CAPITAL PROJECTS FUND

  17. CAPITAL FUNDS

  18. Streets Improvement Fund

  19. Capital Projects Fund

  20. SUMMARY

  21. City of Palm Coast Budget (1 of 3)

  22. City of Palm Coast Budget (2 of 3)

  23. City of Palm Coast Budget (3 of 3)

  24. “When you come to a fork in the road....Take it.” Lawrence Peter "Yogi" Berra

  25. THANK YOU

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