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Charlotte County 2016/17 Proposed Budget 1 st Public Hearing

Join us for the 1st public hearing on the Charlotte County 2016/17 Proposed Budget. The agenda includes a review of the budget process, summary of the proposed budget, millage rates, and adoption of tentative rates and budgets.

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Charlotte County 2016/17 Proposed Budget 1 st Public Hearing

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  1. Charlotte County2016/17Proposed Budget1st Public Hearing September 12, 2016 1

  2. Agenda • County Administrator – Opening Comments • Review of FY15/16 – FY16/17 Budget Process • Summary of Proposed Budget • Millage Rates • Proposed Aggregate County Millage Rate • Announce Total net Proposed Budget • Changes from July 14th Workshop • Adopt tentative rates and budgets 2

  3. Review of 2015/16 -2016/17 Budget Process

  4. Stages of the Budget Process Stage I Establish Broad Goals Stage II Develop Approaches to Achieve Goals Stage IV Evaluate Performance and make Adjustments Stage III Develop a Budget to Achieve Goals

  5. Budget Calendar1st Year

  6. Budget Calendar1st Year

  7. Budget Calendar2nd Year

  8. Summary of Proposed Budget 2015/16 – 2016/17

  9. Assessed Valuation

  10. FY15/16 Property Valuations

  11. FY16/17 Property Valuation Growth

  12. Valuation Impact on Homestead Tax Bill(Charlotte County Millage Only) Note: $50,000 Homestead Exemption assumed

  13. How Your Tax Dollar is Spent FY16/17

  14. Revised Projection – July 14, 2016

  15. Reserve Policy - Adopted 9/8/09 Reserve for Contingencies: To mitigate current and future risks such as revenue shortfalls, unanticipated expenditures, and to ensure stable tax rates; and other unforeseen financial situations. A balance not less than 5% and not greater than 10% percent of the total budget. Cash Carried Forward Reserve: For the purpose of paying expenses from October 1 of the ensuing fiscal year until the time when the revenues for that year are expected to be available. A balance not less than 5% and not greater than 10% percent of the total budget. Fiscal Stabilization Reserve: To meet unexpected immediate increases in service delivery costs, or to maintain service levels in the event that an economic downturn should cause a shortfall in revenues or for expenditures associated with a major storm or other unforeseen disaster that fundamentally alters the current tax base. A balance not less than 15% percent of the total budget.

  16. Ad Valorem Reserves

  17. Reserves

  18. Millage Rates

  19. Millage Rate

  20. Proposed Aggregate County Millage Rate

  21. Aggregate County Millage • The proposed aggregate millage rate is 8.7807 mills Which is 4.48% over the current year aggregate rolled back millage rate of 8.4044 mills. 21

  22. Total Net Proposed Budget

  23. Total Proposed Net* County-wide Budget $671,747,485 Note: Net County-wide budget is net of internal transfers and reserves. 23

  24. Net Amended Budgets(in millions)

  25. Net Budget Capital vs Operating

  26. 5 Year Budget History

  27. Budget Changes Since July 14th Workshop Listed on page 8 of the agenda

  28. Changes made since July 14th • BCC action since July 14th • July 26th BCC Meeting • MSBU Public Hearings • Medical Examiner Budget

  29. Adopt changes as listed on page 8 BCC Action:

  30. Approval of Tentative Rates and Budgets - Tentative until final Public Hearing - Millage rates can be reduced – but not raised Sections I. County-wide Funds II. Voted Debt Service III. MSTU’s (Municipal Service Taxing Units) IV. Other Funds - Special Revenue Funds (non – MSBU) - Enterprise Funds - Special Revenue Funds (MSBU)

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