BREVARD COUNTY FY BUDGET-IN-BRIEF

Transcription

1 BREVARD COUNTY FY BUDGET-IN-BRIEF

2 FY BUDGET Total County Revenue: $1,035.2 Million Explanation of Funding Sources: Balances Forward: Cash in Bank at the beginning of the Fiscal Year Financing: Primarily Debt Proceeds Transfers: Intra/Inter-fund allocations (interfund transfers have the effect of duplicating budgeted revenues) Operating Revenue: Recurring revenues directly related to a fund s primary service activities $417.0 Million of Operating Revenue is restricted by statute, local ordinance, contract or Board Direction. General Government Revenue is generally considered discretionary although the vast majority of uses are Board priorities. General Government Revenue: $ Million Analysis of Funding Sources: AV Taxes: Current Year Property Taxes Major Revenue: FPL Franchise Fees; Local Half Cent Sales Tax, Communication Svcs Tax; and State Shared Sales Tax Cost Allocation: Inter-department funding for General Government services provided Other: Includes prior year AV taxes, Fees and Assessments, Local Business Tax, Other Intergovernmental an Miscellaneous Balance Forward: Cash in Bank at the beginning of the Fiscal Year

3 General Government Revenue Uses: Dept/Agency Support (in millions) Sheriff Office $91.77 Unfunded Mandates Dept/Agency Supervisor of Elections Support (in millions) $5.25 $23.35 Housing $3.46 Reserves $13.79 Courts $2.58 Parks & Recreation EMS/Ocean Rescue Central Services $12.92 Tax Collector $2.51 $9.29 $8.85 Information Tech Property Appraiser $2.27 $2.10 Public Works $5.85 Clerk of Courts $2.04 These 14 agencies (including Reserves) account for $ Million of $ million General Government Revenue leaving only $24.97 Million to support 150 additional programs and services (i.e., Transit, BOCC, County Attorney, EDC, County Administration, UF/Extension Services, HR, Budget Office, Emergency Management, CBO, NRMO, etc.) The Budget by Department/Agency and Charter Officers: Department Budget Department Budget The FY Adopted Budget of $1,035,192,411 is $35,257,717 less than the Final Budget for FY The Board Departments budget has decreased by $22,883,217 The Charter Officers budget has decreased by $9,074,704 The Court Operations budget has decreased by $646,945 The Outside Agencies budget has increased $2,652,851 County Commissioners $1,616,327 Clerk to the Board $2,040,000 Budget Office $592,337 Property Appraiser $2,101,556 Central Services $17,639,867 Sheriff's Office $121,049,045 County Attorney $1,543,818 Supervisor of Elections $5,437,280 County Manager $1,063,873 Tax Collector $2,511,670 Emergency Mgmt $17,234,649 CHARTER OFFICERS $133,139,551 Fire Rescue $69,382,840 General Government $80,369,396 Judicial Branch Admin $438,734 Housing & Human Svcs $16,191,616 Judicial Support $4,364,898 Human Resources $107,747,265 Law Library $369,629 Info Tech $6,794,706 State Attorney $450,818 Library Services $23,638,415 COURT OPERATIONS $5,624,079 Natural Resources $35,776,843 Parks & Recreation $65,808,747 BCA $200,000 Planning & EDC Development $20,671,557 $0 Public Works $131,382,522 MTWCD $5,031,742 Solid Waste $131,997,818 MIRA $2,453,927 SCGTV $260,055 NBEDZ $2,364,849 Tourism Development $39,505,690 TICO $2,313,197 Transit Services $21,134,034 TPO $1,491,591 UF/Brevard County Extension $921,734 OUTSIDE AGENCIES $13,855,306 Utility Services $88,143,403 Valkaria Airport $3,155,963 BOARD DEPARTMENTS $882,573,475 TOTAL COUNTY $1,035,192,411

4 Useful Definitions: Ad Valorem Tax/Revenue: A tax (and the resultant revenue) levied on the taxable value of real property. Assessed Value: Valuation assigned to real property by the Property Appraiser as a basis for levying taxes. Budget: A financial plan of operations which matches anticipated revenues with proposed expenditures. It represents the legal authorization for the County to expend funds during the relevant fiscal period. Capital Improvement Plan: A plan for capital expenditures to be incurred each year (for typically five years) to meet anticipated capital needs. Charter County: A Florida county wherein local voters have the power to adopt a charter (formal, written document that confers powers, duties or privileges on the county) to govern the county. They must be approved, along with any amendments, by the voters of the county. Brevard is one of twenty Charter counties. General Government Fund: The County s primary operating fund which generally does not have the inherent restrictions imposed on other funds Millage Levy: The tax rate applied to the taxable valuation to determine property taxes. A mill represents $1 of tax for each $1,000 or value. Reserves: Expenditure dollar amount set aside for specific purposes such as future expenses, capital acquisition, or in accordance with statute or contractual obligations. Taxable Value: The valuation of real property used for computing taxes to be levied. It represents the assessed valuation less any exclusions or exemptions allowed by law. TRIM (Truth in Millage): State law designed to inform taxpayers which governmental entity is responsible for the taxes levied and the amount of tax levied by entity. COUNTY MILLAGE RATES: Property Tax Revenue is calculated by multiplying the taxable property value by the applicable millage levy and then dividing by 1,000. For example: If your home as an assessed value of $150,000 with homestead exemptions of $50,000, your General Revenue tax is $ $150,000 - $50,000 = $100,000; $100,000 X = $454,970; $454,970 1,000 = $ Tax District FY 2016 FY 2015 % Change COUNTYWIDE General Revenue (2.81%) Library District (2.88%) Mosquito Control (2.92%) Environ Endangered Land (2.69%) UNINCORPORATED Fire Control (2.51%) Law Enforcement (2.38%) Aggregated Road & Bridge (2.57%) Aggregated Parks & Rec %

5 The Charter Cap Brevard is the only Florida county with a Charter provision that does not permit a millage rate which causes the ad valorem revenue to increase over the prior year budgeted revenue by more than the lesser of: (1) 3%, or (2) the percentage change in the Consumer Price Index from the preceding calendar year. This is referred to as the Charter Cap. Effect of the Charter Cap on the General Revenue Mill General Revenue Millage Rates for Neighboring Counties County FY 2015 FY 2016 Change Millage Millage Brevard % Indian River % Orange % Osceola % Seminole % Volusia % Cumulative Effect of the Charter Cap on General Revenue Receipts FY FY FY FY Taxable Property $24,623,285,124 $25,763,338,328 $28,019,599,988 $29,696,507,254 GR Millage Rate Budgeted Revenue $120,809,224 $124,279,768 $131,170,955 $135,110,199 Revenue/ Unchanged Millage (4.9063) $120,809,224 $126,402,667 $137,472,563 $145,699,974 Difference $0 $2,122,899 $6,301,608 $10,589,774 Cum Difference $0 $2,122,899 $8,424,507 $19,014,282

6 Where Does Your Tax Dollar Go? It Depends on Where You Live For A Typical Home in Unincorporated Brevard For a Typical Home in a Municipality (Melbourne, for this example)

7 CAPITAL IMPROVEMENTS PROGRAM

8 Measuring Brevard s Services to Our Citizens