901 Ponce de Leon Blvd.  
Belleair, FL 33756  
Town of Belleair  
Meeting Minutes  
Finance Board  
Monday, August 5, 2024  
3:00 PM  
Town Hall  
Rescheduled from July 23, 2024  
Meeting was called to order at 3:01 PM with Chairman Piccarreto presiding.  
ROLL CALL  
Present 3 - Chairman Kevin Piccarreto, John Hail, and Kathleen Perrott  
Excused 2 - Lawrence Copp, and Tom Kurey  
CITIZENS COMMENTS  
No Citizens Comments  
APPROVAL OF MINUTES  
24-0117  
Approval of May 14, 2024 Meeting Minutes  
Kathleen Perrott moved to approve the minutes. Seconded by John Hail.  
Aye: 3 - Chairman Piccarreto, Hail, and Perrott  
Absent: 2 - Copp, and Kurey  
GENERAL AGENDA  
24-0111  
FY2023 Annual Comprehensive Financial Report and Audit  
Gay Lancaster, Town Manager-introduced Amy Lockhart as the Interim Finance  
Director.  
Amy Lockhart, Interim Finance Director-stated audit came back clear as an unmodified  
opinion; no significant deficiencies.  
Ms. Lancaster stated it was presented to the Commission on July 9th and was accepted.  
No questions of the board.  
24-0112  
24-0116  
Investment Schedule - FY2024 3rd Quarter Results  
Ms. Lockhart spoke on the investment schedule; the Town was still with the State of  
Florida; spoke on average interest rate in FL SAFE account and is earning 5.4%, 5.55%  
in the State Board of Administration fund.  
Review of Approved Resolution 2024-18 and the new Agreement for the State  
Revolving Fund Loan program (SRFLP): Lead Service Line Loan  
Ms. Lockhart spoke on Resolution 2024-18 approved by the Commission on July 9th for  
additional funding; increased loan amount.  
No questions of the board.  
24-0114  
24-0115  
Maximum Millage Preliminary approved at the July 9, Town Commission  
Ms. Lockhart spoke on Maximum Millage Preliminary rate approved by the Commission  
at 6.9777; projected review is to increase the general fund. Ms. Perrott questioned last  
time an increase was done, Ms. Lockhart addressed.  
FY2025 Budget Overview  
Ms. Lockhart provided overview; spoke on the general fund.  
Ms. Lancaster spoke on restructuring of staff, movement from programming to line item  
budget, GFOA standards; presenting a clear picture of operating costs, previously  
operating in a deficit, spoke on prudent operations, importance on spending money for  
infrastructure, maintenance needs, capital equipment replacement funds.  
Mr. Piccarreto questioned vehicle purchase; Ms. Lancaster addressed prior leases  
coming to an end, need to replace that vehicle.  
Mr. Hail questioned time frame of replacements. Ms. Lancaster addressed.  
Ms. Perrott questioned if numbers presented include millage increase. Ms. Lockhart  
stated it does not.  
Ms. Lockhart spoke on increasing fund to 15% of equipment replacement value in a  
fund.  
Ms. Perrott questioned where deficit was; Ms. Lockhart stated deficits were in water and  
solid waste, equipment replacement savings not properly transferred over.  
Mr. Piccarreto spoke on total deficit of $697,000, questioned amount to be put away this  
year, around 300,000.  
Ms. Lockhart spoke on town facilities not budgeted for; bringing fund to 15% helps to  
catch up for replacement needs; General fund balance is $4.3 million unrestricted, by  
policy 20% of reserves to be saved, all ad valorem has been received, must last from  
June to early December; spoke on personnel, legislative/town commission budget,  
executive budget, other governmental services includes permitting and facility  
maintenance; finance and administration, which includes finance and accounting,  
communications, human resources, and fire services contract; cyber security framework  
is required by statue, will require a onetime contract with a 3rd party; police department  
and expenses/revenue related to off duty, increase to sheriff contract, equipment to be  
replaced, includes their share of the 15% toward the capital equipment replacement  
fund.  
Nanette Freeman, Human Resource Manager-addressed question regarding number  
of personnel in police department. Ms. Lancaster spoke on utilization of part time  
officers to be able to fully staff.  
Ms. Lockhart spoke on Parks and Streets, adjustments to staff in those departments,  
anticipates increases to contracts.  
Ms. Perrott questioned responsibility of sidewalks, Ms. Lancaster addressed.  
Ms. Lockhart resumed presentation of Parks and Streets budget, capital needs are two  
fuel tanks and their proportionate share of the 15% cap replacement reserve; spoke on  
recreation staff changes, increase to field trip costs, 15% share of equipment  
replacement reserve.  
Ms. Lockhart addressed question regarding deficit in recreation. Ms. Lancaster stated  
the department was seen as a service, changes being made to recoup costs of field  
maintenance.  
Mr. Piccarreto questioned kids using fields. Ms. Lancaster spoke on potential for key  
cards or way for members to access.  
Ms. Lockhart recapped items that need to be replaced this year, totaling $313,000;  
spoke on equipment replacement fund projected balance and recommended increase  
to be 15% of the estimated $3.5 million equipment value; opportunity for ARPA fund use.  
Ms. Lancaster stated ARPA funds can be used to fill in gaps, however it is not a long  
term solution; restrictions on how funds can be used; vote for millage was to allow trim  
notice to go out reflecting the preliminary millage rate, proposed rate is maximum that it  
could be.  
Ms. Perrott questioned what percentage cost increase in the budget from current year in  
the general fund; Ms. Lockhart stated it is 18%. Ms. Perrott questioned if there is a way to  
compare like to like to better show increase.  
Ms. Freeman spoke from personnel perspective, restructuring has been done for cost  
savings, some full time positions have been made part time; working diligently to  
reduce costs on the personnel side, no COLA increases, merit eligible, insurance  
increases.  
Ms. Lancaster will provide as much detail for comparison as possible.  
Ms. Perrott commented on capital reserve fund; Ms. Lancaster spoke on potential for  
incremental savings.  
Ashley Bernal, Assistant to the Town Manager-spoke on Infrastructure Fund; major  
projects are completion of the bluff study, Carl and Shirley, Belleair Creek study,  
recreation building hardening, transfer-out department service fund; important to discuss  
rising project costs, reviewing CIP quarterly rather than annually with engineer to better  
gauge costs; historic assessment of the bridge on Indian Rocks Road phase III must be  
done.  
Ms. Lancaster spoke on meeting that must be held for stakeholders to speak on bridge  
and historic assessment; state statute requirements; county sewer force main that will  
need included in design; no plan for waterline replacement in original plan.  
Ms. Perrott questioned if phase II could be done first due to challenges with engineering  
on III; Ms. Lancaster stated it is being looked into, the round-about will need redesigned;  
challenges; contractor and material costs are increasing rapidly.  
Ms. Bernal continued presentation with projected fund balance; appropriations are not  
guaranteed so they are not projected; spoke on upcoming projects.  
Mr. Piccarreto questioned plan for increasing fund balance; Ms. Lancaster spoke on  
stripping services down or increasing revenue; main source is ad valorem, limited  
commercial means mostly residential; 1.25 mill dedicated to infrastructure; need to save  
dollars.  
Mr. Hail spoke on new water plant; questioned pipes to be replaced. Ms. Lancaster  
spoke on replacements being done as projects are completed; spoke on Black and  
Veetch study findings, no urgent problems, however goal is to replace a percentage of  
pipe annually; plant may start construction in 2025.  
24-0118  
Solid Waste Rate Proposal FY2025  
Ms. Lockhart stated staff is requesting a 5% increase to rates; increase to personnel,  
recycling contract, Pinellas County disposal fees, fuel costs, reserves for a new truck.  
Mr. Piccarreto spoke on recent increases, questioned if it will occur annually. Ms.  
Lancaster spoke on previously approved annual increase which expires this year, most  
likely need to increase annually.  
Board discussion on recycling costs; waste to energy plant; percentage of residents  
desiring recycling.  
Ms. Lancaster seeking recommendation.  
Kathleen Perrott moved to support the rate increase. Seconded by John Hail.  
Aye: 3 - Chairman Piccarreto, Hail, and Perrott  
Absent: 2 - Copp, and Kurey  
24-0120  
Water Rate Proposal  
Ms. Lockhart spoke on deficit in water budget, increase to Pinellas County rates by 5%  
in October, installation of pipe to replace galvanized pipe, increase maintenance costs  
to meters and hydrants, need to establish a capital equipment replacement fund; loan  
forgiveness does not include the administrative fee and any items needed to furnish the  
building; staff looked at water base fees and usage fees separately to calculate amount  
needed.  
Discussion ensued regarding water used for irrigation; number of people using wells;  
water schedule; driving people to use less potable water; future potential for reclaimed  
water use.  
Ms. Lockhart spoke on charges for service; tier one users are not being charged  
enough to cover our cost of purchasing the water; seeking board comments on retaining  
a three tiered model or moving to a four tiered model; to make the deficit in the current 3  
tier structure, water base fee would need to increase by 22-25% increases to each tier  
would be needed.  
Ms. Lancaster stated average consumption is 14,000 gallons per month; suggests the  
four tier system, better distribution of costs and charges.  
Ms. Perrott questioned clarification on rate changes per tier. Ms. Lockhart addressed.  
Mr. Piccarreto questioned advantage of 4 tier. Ms. Lockhart stated it smooths out usage  
and increases the expense; less of an increase for lower user; commercial customers  
not seeing an increase.  
Ms. Lancaster looking for a recommendation. Ms. Perrott in agreement to move to a 4  
tier system to break gap from 4,00 to 25,000.  
Kathleen Perrott moved to recommend the 4 tier approach. Seconded by John Hail.  
3 - Chairman Piccarreto, Hail, and Perrott  
Aye:  
2 - Copp, and Kurey  
Absent:  
24-0134  
Request for Finance Board members to serve on the Town’s Audit Committee  
Ms. Lockhart discussed the audit committee; need volunteers to work on the committee.  
Ms. Lancaster discussed the previous audit committee, need for an RFP as the contract  
with Saltmarsh is ending, looking for volunteers to serve on the committee, member  
Tom Kurey has said he will serve, Ms. Perrott, Mr. Piccaretto, and Mr. Hail will serve.  
Consensus to hold the next Finance Board meeting on the 28th and hold the Audit  
Committee meeting after.  
OTHER BUSINESS  
ADJOURNMENT  
APPROVED:  
Ms. Lockhart spoke on future demands on cash; construction costs for water treatment  
plant, will need to start planning for funding, infrastructure as well.  
Ms. Perrott commended staff for meeting materials.  
No further business; meeting adjourned in due form at 4:59 PM.  
______________________________  
Chairman