Summary
To: Town Commission
From: Ashley L. A. Bernal
Date: 7/16/2019
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Subject:
Title
Discussion of Preliminary Maximum Millage (MMP)
Summary:
As part of the Truth-in-Millage process (TRIM), the Town of Belleair is required to set a maximum millage levy in the month of July. This is a not-to-exceed millage rate that is included in the TRIM notices that are mailed to property owners in the town before the final budget is approved. Summarized below is a high-level summary of current revenue and expenditure expectations received from the General Fund departments. A more in-depth description of each program is provided in the attached narrative.
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Previous Commission Action: N/A
Background/Problem Discussion: Staff has prepared preliminary assumptions for the upcoming fiscal year, which includes revenue and expenditure expectations. The 2019-20 Fiscal Year will be the second year of the programmatic budgeting transition, which is also aligning with the ongoing Strategic Planning process.
Preliminary Budget for 2019-20
After reviewing expenditure and revenue forecasts, the General Fund is currently at a deficit of almost $154,000. At a high-level summary, here are the contractual increases that are responsible for a portion of this deficit:
* $20,000 - Police Pension increase
* $30,000 - Largo Fire contract increase
* $20,000 - Personnel health increases
* $30,000 - Software and Cybersecurity contractual increases
* $39,000 - Cost of Living Adjustment
* $69,000 - Merit increases
* $18,000 - General Liability insurance increase
At this time, proposed numbers are still being reviewed by staff. This means that the current deficit does not include all requests. These expected changes will be totaled prior to the meeting, which will help determine the total impact on the General Fund.
In addition to these increases in expenditure lines, revenues are experiencing an overall decrease of ...
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