Summary
To: Town Commission
From: Ashley L. A. Bernal
Date: 4/16/2019
______________________________________________________________________
Subject:
Title
Preliminary Budget Discussion
Summary:
As we approach the beginning of the budget season, staff has proactively looked at the budget for FY 2019-2020. Preliminary changes have been identified and listed in fund order below.
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Body
Previous Commission Action: None.
Background/Problem Discussion: In preparation for this year's budget, staff has taken early estimates of revenues and larger expenditure areas in funds across town. This will be the second year of program based budgeting. It is staff's hope that communication of the budget continues to improve connecting costs with services rendered to citizens of the town. In addition to this, the FY 2019-2020 budget will be the first budget that reflects outcomes from the Town's Strategic Plan, which will facilitate the prioritization of services offered by the town.
Financial information is provided below for your review. Revenues and expenditures related to each department's programs will be presented in the future months. Staff is seeking guidance from the Board on areas for renewed focus as each department begins preparing for the FY 2019-2020 budget.
Expenditure Challenges None.
Financial Implications:
General Fund
Revenues
* Staff expects to see an increase in Ad Valorem proceeds as the revenues from the Belleview Place properties are realized. An increase in property values overall is expected, but the Pinellas County Property Appraiser has not released any percentage estimates. Currently this assumption is based on a five-year smoothed average at the current millage rates respective to each fund.
* Building permits will experience a decrease to $265,000 due to the completion of Belleview Place and Pelican Golf projects ($85,000 decrease).
* Half-Cent Sales Tax will experience an increase to $268,500 ($12,800 increase). While this number is ...
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