RESOLUTION NO. R

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4 RESOLUTION NO. R A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LANTANA, FLORIDA, ADOPTING THE FINAL MILLAGE RATE FOR THE TOWN OF LANTANA FOR THE FISCAL YEAR COMMENCING ON OCTOBER 1, 218 AND ENDING ON SEPTEMBER 3, 219; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES. WHEREAS, the Town Council of the Town of Lantana has determined the sum of $2,372,98 will be required to operate the Town during the next fiscal year; and WHEREAS, the Real Estate and Personal Property Tax Roll for the current calendar year as accepted evidence a total nonexempt valuation of $1,27,425,597; and WHEREAS, the property tax rate of 3.5 mills is anticipated to generate $3,416,29 of ad valorem revenue; and WHEREAS, the Town of Lantana has the power to levy ad valorem taxes against real property and tangible personal property in accordance with state law. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF LANTANA, FLORIDA, THAT: Section 1: The Town Council of the Town of Lantana does hereby adopt its final millage rate of 3.5 mills to be levied for the general fund upon all real and tangible personal property located with the boundaries of the above named taxing authority. Section 2: The final levy of 3.5 mills represents a 6.31% increase above the rolledback rate of Section 3: This final millage rate of 3.5 is levied to fund expenses for the fiscal year commencing October 1, 218 and ending September 3, 219. Council. Section 4: This Resolution shall take effect immediately upon adoption by the Town Page 1 of 2

5 DULY ADOPTED at a public hearing this 24 th day of September, 218. TOWN OF LANTANA Aye Nay Mayor David J. Stewart Aye Nay Vice Mayor Edward Paul Shropshire Aye Nay Councilmember Philip J. Aridas Aye Nay Councilmember Malcolm Balfour Aye Nay Councilmember Lynn J. Moorhouse ATTEST: TOWN CLERK (SEAL) Approved as to form and legal sufficiency. TOWN ATTORNEY Page 2 of 2

6 RESOLUTION NO. R A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LANTANA, FLORIDA, ADOPTING ITS FINAL BUDGET FOR FISCAL YEAR ; PROVIDING THAT THE BUDGET HEREBY ADOPTED MAY BE ADJUSTED OR MODIFIED BY SUBSEQUENT RESOLUTION OF THE TOWN COUNCIL, OR OTHERWISE UNDER CERTAIN CIRCUMSTANCES; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES. WHEREAS, the Town of Lantana has established its fiscal year to begin on October 1 st of each year and end on September 3 th of the following year; and WHEREAS, Section (2), Florida Statutes, requires each municipality to adopt a budget each fiscal year by ordinance or resolution, unless otherwise specified in the respective municipality's Charter; and WHEREAS, the Charter of the Town of Lantana states that the method of adoption shall be established by ordinance; and WHEREAS, Ordinance O-8-27 provides that the budget may be adopted by either ordinance or resolution; and WHEREAS, the Town Council desires to adopt its budget by resolution; and WHEREAS, the Town of Lantana has held the required budget hearings in accordance with Chapter 2, Florida Statutes; and WHEREAS, having considered the estimates of revenues and expenses, it is the will and desire of the Town Council that the final budget be approved and adopted as set forth herein. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF LANTANA, FLORIDA, THAT: Section 1: The Town Council of the Town of Lantana, Florida, hereby adopts its budget for fiscal year ; which budget is attached hereto as Exhibit "A" and made a part hereof as if fully set forth herein. Section 2: Appropriations for expenditures within a fund may be increased or decreased by motion recorded in the minutes provided that the total of the appropriations of the fund is not changed. The Town Manager, or designee, may authorize certain budget amendments within a department provided that the total of the appropriations of the department is not changed. Section 3: All outstanding encumbrances for Non-Capital and Capital expenditures on September 3, 218 shall lapse at that time, and all unexpended Non-Capital and Capital Page 1 of 3

7 Expenditure encumbrances may be added to the corresponding approved available budget balances and be simultaneously reappropriated for expenditures, as previously approved in the fiscal year. Section 4: Amendments other than those delineated in Section 2 and Section 3 above must be adopted by resolution. Section 5: When the Town of Lantana receives monies from any source, be it private or governmental, by grant, gift, or otherwise, to which there is attached as a condition of acceptance, any limitation regarding the use or expenditure of the monies received, the funds so received need not be shown in the Annual Budget nor shall said budget be subject to amendment or expenditure as a result of the receipt of said monies, but said monies shall only be disbursed and applied toward the purposes for which the said funds were received. To ensure the integrity of the Operating Budget, and the integrity of the monies received by the Town under grants or gifts, all monies received as contemplated above may, upon receipt, be segregated and accounted for, and where appropriate, placed into separate and individual Governmental Fund accounts from which any money drawn may be disbursed and applied within the limitations placed upon the gift or grant. Section 6: The Finance Director shall provide a copy of this resolution to the Palm Beach County Property Appraiser, to the Palm Beach County Tax Collector, and to the State of Florida, Department of Revenue within three (3) days after its adoption. Section 7: The Finance Director shall, within thirty (3) days of the effective date of this resolution, certify to the State of Florida, Department of Revenue that the Town has complied with all statutory requirements in adopting the millage rate and budget. The Finance Director shall transmit to the Department a copy of this resolution, a copy of the certification of value showing the rolled back rate and proposed millage rates as provided to the Property Appraiser and a certified copy of the published advertisement of the final budget public hearing. Section 8: If any section, paragraph, sentence, clause, phrase, or word of this Resolution is for any reason held by a court of competent jurisdiction to be unconstitutional, inoperative or void, such holding shall not affect the remainder of the Resolution. Section 9: This resolution shall take effect immediately upon adoption by the Town Council. Section 1: In accordance with Florida Statute (3), the Finance Director posted the tentative budget at least two days prior to the budget hearing, and is hereby directed to Page 2 of 3

8 place a copy of the FY adopted budget on the Town s website within five (3) days after adoption. DULY ADOPTED at a public hearing this 24 th day of September, 218. TOWN OF LANTANA Aye Nay Mayor David J. Stewart Aye Nay Vice Mayor Edward Paul Shropshire Aye Nay Councilmember Philip J. Aridas Aye Nay Councilmember Malcolm Balfour Aye Nay Councilmember Lynn J. Moorhouse ATTEST: TOWN CLERK (SEAL) Approved as to form and legal sufficiency. TOWN ATTORNEY Page 3 of 3

9 PROPOSED TOWN OF LANTANA, FLORIDA ANNUAL BUDGET FISCAL YEAR Experience the natural surroundings of our coastal community

10 Budget cover pictures and layout was developed by Sharon Almeida, Assistant Finance Director.

11 TOWN OF LANTANA FISCAL YEAR 218/19 ANNUAL BUDGET

12 Town of Lantana Town Officials Mayor Mayor David J. Stewart (3/221) Council Members Vice Mayor Edward Paul Shropshire (3/22) Vice Mayor Pro Tem Malcolm Balfour (3/219) Councilmember Philip J. Aridas (3/22) Councilmember Dr. Lynn J. Moorhouse (3/219) Town Manager Deborah S. Manzo Town Clerk Nicole A. Dritz Town Attorney Consulting Engineers Town Auditors Lohman Law Group, PA Mathews Consulting Inc. Kimley-Horn & Associates. Calvin, Giordano & Assoc. Inc. Department Heads Grau & Associates Operations Director... Linda Brien Finance Director... Stephen Kaplan Library Director... Sid Patchett Police Chief... Sean Scheller Development Services Director... David Thatcher Budget Staff Finance Director... Stephen Kaplan Assistant Finance Director... Sharon Almeida (561)

13 TOWN OF LANTANA CITIZEN BOARDS AND COMMITTEES Many of the citizens of the Town of Lantana volunteer their time and expertise to serve on boards and committees. They play an integral part in shaping and preserving the quality of life that is uniquely Lantana. FIREFIGHTER S PENSION BOARD OF TRUSTEES GENERAL EMPLOYEES PENSION BOARD GREATER LANTANA SCHOOL COMMUNITY EDUCATION COUNCIL POLICE PENSION BOARD OF TRUSTEES TOWN PLANNING COMMISSION

14 HISTORICAL SKETCH The Town of Lantana is a coastal community in Palm Beach County, which still retains the charm of its origins as an old Florida fishing village. It is ranked 15 th in population of the 39 municipalities in Palm Beach County and is noted as one of the oldest. The first settlers came after Congress passed the Armed Occupation Act in 1842 at the end of the Seminole Wars. One of the pioneer settlers, the Lyman family, is distinguished as the founders of the Town. M. B. Lyman brought his family to Lantana in 1888 and started several enterprises. He established a store, Indian Trading Post, and post office in As postmaster, Mr. Lyman named the post office as Lantana Point for the wild Lantana plant, which grew in abundance in the area. The Point was later dropped. One of the Lyman businesses was the Lantana Fish Company where one hundred thousand-pound catches of fish were common. In the early 19 s the gathering and marketing of oysters became the leading industry. The Town of Lantana was incorporated in 1921 with twenty-two residents voting in the first election. At the time of incorporation, the area of Lantana was one square mile with a population of 1 residents. Today, the Town covers 2.9 sq. miles, and the year round population is 1,797 with a seasonal population of approximately 13,5.

15 TABLE OF CONTENTS INTRODUCTION How To Use This Document. 1 Town Manager s Budget Message. 3 Organizational Chart. 7 Financial Management Policies Explanation of Budgetary Basis. 11 BUDGET SUMMARIES Budget Summary. 13 General Fund. 14 Water and Sewer Fund. 17 Infrastructure Surtax Fund. 18 Insurance Fund. 19 Police Education Fund. 2 Grants Fund. 21 Revenues/Expenditures per F.S (2). 22 ANALYSIS Property Tax Analysis. 25 Where Your Taxes Go. 27 County-wide Proposed Millage Rates. 29 Certificate of Taxable Value (DR-42). 3 Real Property by Category. 34 DEPARTMENT SUMMARIES Town Council. 39 Town Administration. 41 Finance. 45 Legal Police. 51 Development Services. 58 Library. 62 Operations. 66 Town Events. 75 Non-Departmental. 76

16 CAPITAL IMPROVEMENTS PROGRAM Capital Improvements Program Summary. 79 General Fund Capital. 81 Utility Fund Capital. 83 Grants Fund Capital. 84 Infrastructure Surtax Fund Capital. 85 DEBT SCHEDULE Debt Schedule. 86 APPENDIX Resolution R Millage Rate. 89 Resolution R Proposed Budget. 91 GLOSSARY Glossary. 94

17 HOW TO USE THIS DOCUMENT The Proposed Budget Document is organized into five sections - these are the Introduction, Budget Summaries, Department Summaries, Capital Improvements Program & Debt Service, and Appendix & Glossary. INTRODUCTION The Introduction begins with Budget Message from the Town Manager. The Financial Policies immediately follow this section, which are concurrently adopted with the budget to serve as a guide in preparation and administration of the budget. BUDGET SUMMARIES The Budget Summary section provides the reader with a quick overview of the Town s Proposed Budget. This section includes summaries of revenues by category and expenditures by department for each of the Town s six operating funds: General, Water and Sewer, Infrastructure Surtax, Grants, Police Education, and Insurance. DEPARTMENT SUMMARIES This section presents the operating budgets for the following departments: Town Council, Administration, Finance, Legal, Police, Development Services, Library, Operations, Non- Departmental, and Special Events. Each of the cost centers, or activities, within each department are included in this section. Each departmental section includes the following: Organizational Chart Summary of Personnel Primary Functions Performance Measurements Budget Category Summary Budget Category Explanations FY 219 Goals and Objectives FY 218 Achievements CAPITAL IMPROVEMENT PROGRAM This section presents detailed descriptions of proposed capital purchases for each operating fund. Also included is a discussion of effects on operating costs and identification of funding sources

18 DEBT SERVICE This section presents a brief discussion of the Town s debt policies, along with outstanding principal balances and current year debt service requirements for the Series 212 Water and Sewer Refunding Bond, and the 23 loan for improvements to the water treatment plant. APPENDIX AND GLOSSARY This section presents miscellaneous information that the reader may find useful, the, Budget Resolution adopting the millage rate and budget, and the Glossary, which include definitions of terminology used throughout the document that may assist the reader in better understanding the budget

19 Town of Lantana COUNCILMEMBERS Philip J Aridas Malcolm Balfour Lynn J Moorhouse, D. D. S. Edward Paul Shropshire 5 Greynolds Circle Lantana, FL (561) 54-5 Fax (561) DAVID J STEWART MAYOR September 12, 218 The Honorable Mayor and Town Council Town of Lantana Lantana, FL Honorable Mayor and Members of the Council: Pursuant to Article IV Section 5(e) of the Charter of the Town of Lantana, I hereby submit the proposed operating and capital budget for Fiscal Year 218/19. As the Town s financial and spending plan for the year, the adoption of the budget is probably one of the most important actions taken by the Council each year. It serves as a policy document which authorizes resources and establishes a plan and direction for our programs and services for the coming year as well as our capital improvement program. The Fiscal Year 218/19 budget was prepared on the premise of allocating resources to achieve our mission to preserve Lantana s hometown atmosphere through responsible government and quality service. Town staff continues to work diligently to improve efficiency in operations in order to provide quality services and programs. All aspects of the Town government continue to be evaluated for changes that will result in maximizing every dollar. Over the last decade, the Town experienced tremendous losses in revenue. We re finally recognizing revenues similar to prerecession levels. Property values have dropped from a high of $1.1 billion in Fiscal Year 27/8 to a low of $678 million during Fiscal Year 212/13, slowly coming back up to the current proposed valuation of $1 billion for this budget. The Town s tax rate remained consistent during this period which resulted in significant reductions in property tax revenues. However, Fiscal Year 218/19 is the sixth year where values have increased. Additionally, the budget includes holding the millage rate at 3.5. Other revenues are also returning to their prerecession levels. The Town continues to be financially healthy and stable due to a conservative approach to government. The ending fiscal year 217/18 s unassigned General Fund balance reserves are anticipated to be 63% of the Fiscal Year 218/19 operating budget (61% of total budget) and exceeds the Town s adopted fund balance policy. The Utility Fund s unrestricted reserves are anticipated to reach $6.9 million by the end of fiscal year. The fund is healthy and prepared for the capital improvements recommended by the Town s engineer

20 The significant factors affecting the formulation of the Fiscal Year 218/19 budget includes: General Fund 1. The Proposed Millage Rate is $3.5 per thousand dollars of taxable value, which is an increase of 6.31% compared to the roll-back rate of Anticipated property tax revenues for FY 219 are $3,416,29, which increased $238,457 when compared to FY 218 s budgeted revenue of $3,177,833. Property taxes are projected to account for 28.4% of anticipated revenues in the current fiscal year and are expected to increase to 29.7% for the new fiscal year. 2. Received notification from the Palm Beach County Property Appraiser of an 8% increase in the value of taxable property within the Town, from $951.4 million to $1.3 billion. Based on the new property values, one mill generates revenues of approximately $976, (assuming a 95% collection rate). 3. Insurance Costs (all funds): Property insurance increased 26%; however, of this amount, 12% is attributed to the increase in our insured values. General Liability and Workers Compensation Insurance rates remained unchanged; however, since payroll costs increased 13%, insurance costs rose by the same percentage. Health insurance will change from Aetna to Florida Blue after reviewing quotes from six (6) providers. The year-over-year rate increased approximately 35% for health insurance while dental rates remained unchanged. Overall health and dental costs will increase approximately 29% for a total of $1,451,3. 4. Police Pension (defined-benefit plan) will decrease from 43.98% to 42.71% of covered payroll for 32 active employees. The budgeted cost will be $946,46, of which the State is anticipated to provide $112,686 from insurance proceeds. 5. General employees pension (all funds-defined contribution) is projected to remain at 7% with the continuation of a match to the employees pension contribution up to 2% for a total of up to 9% paid by the Town. The budgeted cost for 64 employees is $292,21, an increase of $27, A Cost of Living Adjustment (COLA) has been included and calculated at 2.4% based on March s Consumer Price Index. The merit plan is budgeted with a -5% range for general employees based on their annual evaluation and up to 5% for sworn officers of the bargaining unit pursuant to the Police Department s Career Development Program. 7. Department and position changes include the following: a. Operations Recreation Coordinator to become the Parks & Recreation Supervisor, and adding one General Maintenance Worker which will discontinue service with the current contracted provider. b. Police Increase one Dispatcher and one additional Investigator assignment from an Officer position. c. Finance Human Resources Generalist becomes the Human Resources/Risk Manager. 8. Surplus of $129,367 held in contingency account. 5 Greynolds Circle Lantana, FL (561) 54-5 Fax (561)

21 9. Capital requests included in the budget are listed below: DESCRIPTION DEPARTMENT AMOUNT Computer Replacement Code Enforcement Officer Development Services $ 1,65 Development Services Director Development Services 1,5 Purchasing/Payroll Accountant Finance 1,5 Lending Station Library 1,5 Assistant Public Works Director Operations 2,2 Replacement of virtual server system & accessories Police 33, Dispatch Stations (2) Police 6, Police mobile units (2) Police 5,53 Motorcycle unit Police 4,5 Detectives Sergeant Police 4,5 Laptop Finance 2, Library books Library 2, General Maintenance Worker truck Operations 25,742 Sports Park utility vehicle (mule) Operations 15,563 Pressure cleaner and trailer Operations 6,2 Multi-space parking kiosks for Bicentennial & Operations 6, Sportsman's Parks Air conditioner replacements Operations 5, Marked sport utility vehicle and related accessories Police 57,415 Two patrol vehicles & related accessories Police 84,71 $ 284,51 Utility Fund 1. Budgeted operating revenues are anticipated to increase $112,574, or 2%. 2. Water and wastewater rates will increase 2.8% and are anticipated to recognize an additional $11,5. 3. Repayment of 212 debt is budgeted at $495,65 and matures October 1, The fund is balanced with budgeted revenues meeting budgeted expenditures. 5 Greynolds Circle Lantana, FL (561) 54-5 Fax (561)

22 5. Capital purchases to be funded are listed below: DESCRIPTION DEPARTMENT AMOUNT Replacement vehicle for Utilities Manager Operations 3,2 Front end loader Operations 175, Water treatment plant upgrades Operations 461, $ 666,2 Grants Fund 1. A $1.5 million grant from FEMA s Hazard Mitigation Grant Program (HMGP) to retrofit the Police Station with impact resistant windows and doors, roof improvements and purchasing a backup generator. The Town s required cost-share is 25% or up to $375,. 2. Replacement furniture in Police Department s communication center to be reimbursed 1% by Palm Beach County. Infrastructure Surtax Fund 1. $231,454 in paving projects. 2. $13, for new playground, fencing and shade cover at Lantana Sports Park. 3. Up to $375, to fund the Town s portion of FEMA s HMGP. I would like to thank the Finance Department, all Town department heads and their staff for their diligent efforts in preparing this budget. It is through their combined efforts that I am able to present this budget document to the Town Council. I express my sincere appreciation to the Mayor and Town Council for their vision, guidance and support. Respectfully submitted, Deborah S. Manzo Town Manager 5 Greynolds Circle Lantana, FL (561) 54-5 Fax (561)

23 TOWN OF LANTANA ORGANIZATIONAL CHART Citizens of Lantana Town Council Citizen Advisory Boards Town Manager Consulting Engineers Legal Finance Development Services Police Operations Library - 7 -

24 FINANCIAL MANAGEMENT POLICIES Operating Budget Policies: The Town will pay for all current expenditures with current revenues and fund balance. The Town will avoid budgetary procedures that balance current expenditures at the expense of future years, such as postponing expenditures, underestimating expenditures, over estimating revenues, or utilizing short-term borrowing to balance the budget. The budget will provide for adequate maintenance and repair of capital assets and for their orderly replacement. The budget will provide for funding of the Police Defined Benefit Retirement Plan based on the annual actuarial report. The Town will maintain a budgetary control system to help it adhere to the budget. The Finance Department will ensure all departments have monthly expenditure and revenue reports available for their review for management purposes. In addition, the department will prepare quarterly financial statements for Council members and department directors. The Town will update expenditure projections for each fiscal year. Projections will include estimated operating costs of future capital improvements. Where possible, the Town will integrate performance measurement, service level, and productivity indicators within the budget. Enterprise Funds will be self-supporting for operating and capital expenses and receive no General Fund tax support. The Town will seek state and federal funds that are available for capital projects. Capital Improvement Program (CIP) Policies: The Town will enact an annual capital improvement budget based on the multi-year CIP departmental request. The Town will coordinate the CIP with development of the operating budget. Future operating costs associated with capital improvements will be projected and used for forecasting expenditures. The Town will identify the estimated acquisition and operating costs and potential funding sources for each capital improvement project proposal before submittal to the Town Council for approval. Debt Policies: The Town will confine long-term borrowing to capital improvement projects

25 When the Town finances capital projects by issuing debt, it will repay the debt within a period not to exceed the expected useful life of the project. Where possible, the Town will use revenue bonds instead of general obligation bonds. The Town will follow a policy of full disclosure on every financial report and bond prospectus. The Town will utilize the form of borrowing that is most cost effective, including not just interest expense, but all costs, including up front costs, administrative and legal expenses, and reserve requirements. Revenue Policies: The Town will maintain, as permitted by state law, a diversified revenue base to mitigate the effects of short-term fluctuations in any one revenue source. The Town will estimate its annual revenues by a conservative, objective, and analytical process. Annually, the Town will review direct costs of activities supported by user fees and consider such information when establishing user charges. Non-recurring revenues will be used only to fund non-recurring expenditures. Reserve Policies: The Town s fund balance policy was adopted by the Town Council on August 22, 211 and revised on February 27, 212 through Resolution No. R which explains the fund balance policy in further detail. Additionally, on March 12, 212 through Ordinance No. O-4-212, the Town Council established a $3.3 million committed fund balance. The amount stems from $2,9, received in 1997 from town property which was sold, and in 25, $4, was received from insurance proceeds which makes up the total committed fund balance. Investment Policies: Disbursement, collection and deposit of all funds will be appropriately scheduled to ensure the timely payment of expenditures and investment of funds. The accounting system will provide regular information concerning cash positions and investment performance. Accounting, Auditing and Financial Reporting Policies: The accounting system will maintain records on a basis consistent with Generally Accepted Accounting Principles applicable to local government

26 Quarterly and annual financial reports will present a summary of financial activity by major types of funds. In accordance with state law, an independent accounting firm will perform an annual audit of the financial statements of the Town and will publicly issue an opinion thereon. Purchasing Policies: Purchases will be made in accordance with all federal, state, and municipal requirements. If there are no specific requirements, purchases will be made in the best interest of the Town. Purchases will be made in an impartial, economical, competitive, efficient and transparent manner. Purchases will be made from the lowest priced and most responsible vendor. Qualitative factors such as vendor reputation, financial condition, quality of product, and timeliness of delivery may be considered as much as price when making purchasing decisions

27 EXPLANATION OF BUDGETARY BASIS The Town maintains a number of funds, with the General Fund as the main operating fund of the Town. The other budgeted funds are either governmental or proprietary in nature. The Police Forfeiture Fund is not budgeted per Florida Statute Section (9). Governmental funds, including the general and special revenue funds, are budgeted using the modified accrual basis of accounting. Revenue and other governmental fund financing sources are recognized in the accounting period when they become susceptible to accrual - that is, when they become both "measurable" and "available" to finance expenditures of the current fiscal period. Utility and franchise taxes, registration fees, permits, fines and forfeitures, charges for services (except those that are measurable) and miscellaneous revenue are recorded as revenue when cash is received because they are generally not measurable until actually received. Investment earnings are recorded as earned since they are measurable and available. Grant revenues are usually of the cost-reimbursement nature and are driven by expenditures of the Town. Property tax revenues are recognized when they become available. Available means when due or past due, and receivable and collected generally within 6 days after year-end. Property taxes are assessed as of January 1, based upon taxable value of properties within the Town as set annually by the Palm Beach County Property Appraiser. The property taxes are levied on October 1 of each year; tax bills are mailed November 1 and are delinquent on the 31 st of the following March. Taxes not paid are declared delinquent and tax certificates paid after September 3 are recorded as delinquent tax revenue in the fiscal year received. Taxes are not paid in advance. Governmental expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) accumulated unpaid vacation and sick pay, which are not accrued; and (2) principal and interest on general long-term debts, which are recognized when due. The Town operates one proprietary fund, the Water and Sewer Utility Fund ( Utility ). For financial statement purposes, proprietary funds are accounted for using the full accrual basis of accounting. The Utility is intended to be a self-contained entity, much like in the private-sector. Revenue is recognized when earned, and expenses are recognized when they are incurred. Utility receivables not billed are estimated and recorded at year-end. For budgetary purposes, these funds are presented on the cash basis, i.e., depreciation and amortization are not budgeted while capital purchases and debt service payments are budgeted. The Town maintains budgetary controls at the object of expenditure level by the encumbrance of estimated purchase amounts or contracts. Open encumbrances are closed as of September 3 th and new encumbrances are established in the new fiscal year. Adjusting the budget within a department is completed through internal (administrative) budget amendments. However, a resolution shall be adopted by the Town Council for any interdepartmental budget modifications or if the department s overall budget is increased

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29 FISCAL YEAR 219 BUDGET SUMMARY FUND BEGINNING BALANCE REVENUES/ SOURCES EXPENDITURES/ USES ENDING BALANCE GENERAL FUND $ 12,215,669 $ 11,491,195 $ 11,491,195 $ 12,215,669 ENTERPRISE FUNDS Water & Sewer 13,59,139 5,98,653 5,98,653 13,59,139 TOTAL $ 13,59,139 $ 5,98,653 $ 5,98,653 $ 13,59,139 INTERNAL SERVICE FUNDS Insurance Fund 75,166 51,495 51,495 75,166 TOTAL $ 75,166 $ 51,495 $ 51,495 $ 75,166 SPECIAL REVENUE FUNDS Infrastructure Surtax Fund 216,62 736, , ,62 Police Education Fund 15,585 4,569 4,569 15,585 Grants Fund - 1,648,732 1,648,732 - TOTAL $ 231,647 $ 2,389,755 $ 2,389,755 $ 231,647 GRAND TOTAL $ 26,76,621 $ 2,372,98 $ 2,372,98 $ 26,76,

30 ANALYSIS OF REVENUES/SOURCES AND EXPENDITURES/USES GENERAL FUND FUND NUMBER 1 ESTIMATED AMENDED ACTUAL ACTUAL ACTUAL BUDGET BUDGET % FY 216 FY 217 FY 218 FY218 FY 219 CHANGE BEGINNING BALANCES $ 9,83,78 $ 1,722,352 $ 11,96,35 $ 11,96,35 $ 12,215,669 2% REVENUES/SOURCES PROPERTY TAXES - CURRENT 2,594,597 2,879,15 3,177,833 3,177,833 3,416,29 8% PROPERTY TAXES - DISCOUNT (88,661) (96,9) N/A PROPERTY TAXES - DELINQUENT 16,795 4,1 7, 8, 7, -13% 1ST LOCAL OPTION FUEL TAX 2,41 27,732 23,213 27,94 23,213-2% 2ND LOCAL OPTION FUEL TAX 93,391 97,138 93,89 98,53 93,89-4% INSURANCE PREM-PD PENSION 119,7 112, , ,7 112,686-6% ELECTRICITY - FRANCHISE 654,26 67, ,837 66, ,837 5% GAS - FRANCHISE 17,675 21,47 21,44 13,257 21,44 61% COMMERCIAL SOLID WASTE FEE 23, 18,8 21,252 18,513 21,252 15% COMMERCIAL SOLID WASTE FRANCHISE 8,324 16,57 83,564 9,123 83,564-7% RESIDENTIAL SOLID WASTE FEE 29,1 289, , , ,638 2% RESIDENTIAL SOLID WASTE FRANCHISE 58,72 6,146 61,597 6,597 94,235 56% ELECTRICITY - UTILITY TAX 873, ,83 931, , ,475 2% WATER - UTILITY TAX 285, ,785 3,828 31,267 36,724 2% GAS - UTILITY TAX 54,94 6,44 57,595 56,587 57,595 2% COMMUNICATION SERVICE TAX 222,229 2, , , ,535 1% BUSINESS SERVICE TAX 236, ,451 25, ,58 25,347 8% PENALTY ON BUSINESS SRVC TAX 5,64 5,18 28,546 5,8 25,546 41% BUILDING PERMITS 823, ,36 64, ,778 44,146 23% SOLID WASTE SPECIAL ASSESSMENT 62, ,17 628,65 622,15 967,58 56% GAS LINE ASSESSMENT-HYPOLUXO 79,148 78,765 79,63 77,863 78,113 % PERMIT SURCHARGE-TRAINING 2,51 1, , % OTHER BLDG & ZONING FEES 22,785 28,5 23,986 26,864 22,486-16% US DOJ VEST REIMB GRANT 4,488 4, N/A S.L.O.T. REIMBURSEMENT 3,328 5, N/A FEMA REIMB.-FEDERAL - 12, N/A FL DEPT OF ENVIRON PROTEC 1,, 5, N/A FEMA REIMB.-STATE - 3, N/A FL LIBRARY COOP 5,215 4,281 4,299 4,281 4,299 % STATE REVENUE SHARING 358, , , , ,939 2% MOBILE HOME LICENSES 24,56 23,744 21,154 23,554 21,154-1% ALCOHOLIC BEVERAGE LIC. 11,966 1,78 11, 12, 11, -8% HALF CENT SALES TAX 847,4 837, , , ,562 % COUNTY 911 REIMBURSEMENT 962-2,419 8,425 1, -88% PBC BOCC 1, N/A F.I.N.D. GRANT 5,237 52, N/A COUNTY BUSINESS SRVC TAX 22,938 26,154 27,519 24,87 27,519 11% SWA SHARED REVENUE-RECYCLING 6,991 12,234 2,889 11,773 2,889-75% CHARTER SCHOOL 18,93 19,26 21,841 19,787 22,715 15% ALARM FEES 2,855 1,565 1,19 1,684 1,19-39% POLICE REIMBURSABLE DUTY 126,237 14,67 86,42 11,2 11,2 % HYPOLUXO INTERLOCAL 572, , , , ,27 3%

31 ANALYSIS OF REVENUES/SOURCES AND EXPENDITURES/USES GENERAL FUND FUND NUMBER 1 ESTIMATED AMENDED ACTUAL ACTUAL ACTUAL BUDGET BUDGET % FY 216 FY 217 FY 218 FY218 FY 219 CHANGE SOUTH PALM INTERLOCAL 58,57 59,219 6,523 6,523 62,36 2% MANATEE PATROL 17,588 8,794 11,3 15, 11,3-26% JR. LIFEGUARD PROGRAM 1,5 1,2 1,35 1,2 1,2 % METERED PARKING 26, , , , ,867 3% LYMAN PARK METERED PARKNG , , % PARKING DECALS 27,38 26,29 24,655 26,29 24,655-6% BOAT TRAILER DECALS 8,55 9, 7,642 8,999 7,642-15% NATURE PRESERVE MAINT 52,258 53,26 54,244 53,998 55,324 2% SPORTS PARK FEES 14,119 37,392 34,58 35, 34,58-1% COURT FINES 16,725 27,74 17,83 26,67 17,83 N/A PBC RADIO COMMUNICATION - 9, N/A PARKING VIOLATIONS 76,33 84,128 71,968 85,29 71,968-1% CODE VIOLATIONS 145, ,58 121,777 9, 1, -2% INTEREST INCOME 29,37 75,268 13,91 61,963 13,91 61% DUNE DECK 4,158 4,721 41,559 41,344 42, % SPRINT TOWER 63,476 7,55 74,442 74,442 75,294 N/A FIRE STATION 6, 6, 6, 6, 6, -3% RG CELL TOWER 2,651 21,271 21,99 21,325 22, % TOWN PARKS 15,75 15, 34,782 15, 34,782 3% SALE OF EQUIPMENT 5,141 6,92 22,153 2, 2,5 128% OTHER CONTRIB/DONATIONS 776,65 57,195 28,378 26,58 3, -9% MISCELLANEOUS REVENUES 85,38 75,897 41,597 74,14 41,597 N/A INSURANCE REIMBURSEMENTS 39,36 24,769 21,64 9,116 - N/A FUEL TAX REIMBURSEMENT 3,328 8,5 3,6 4,964 3,6 54% TRANSFER FROM OTHER FUNDS 23,863 12,658 12, 12, - -1% CARRYFORWARD , % TOTAL REVENUES $ 12,112,54 $ 11,258,78 $ 11,28,296 $ 11,235,996 $ 11,491,195 2% EXPENSES/USES Legislative 111, ,351 88, ,35 13,13-23% Administration 21,54 21, ,52 245, ,242 6% Finance 362, ,583 47, ,88 46,914 11% Legal 13,124 1,315 14, 169,8 15, -12% Police 4,538,537 4,64,137 5,274,85 5,51,121 6,56,283 1% Development Services 585, ,3 74,471 77,44 785,63 2% Operations 2,2,526 2,285,935 2,715,974 2,532,33 2,97,86 15% Library 136, , , , ,448 5% Special Events 48,799 42,69 44,793 45,65 43,34-4% Non-Departmental 42,61 163, , , ,765-21% Debt Service 368,367 37, ,5 158,5 59, -63% Capital 1,757,958 1,2,12 759, , ,51-66% Transfers Out 17,161 7,77 2,922 2, % TOTAL EXPENDITURES $ 1,473,896 $ 1,2,395 $ 1,952,662 $ 11,235,996 $ 11,491,195 2%

32 ANALYSIS OF REVENUES/SOURCES AND EXPENDITURES/USES GENERAL FUND FUND NUMBER 1 ESTIMATED AMENDED ACTUAL ACTUAL ACTUAL BUDGET BUDGET % FY 216 FY 217 FY 218 FY218 FY 219 CHANGE Excess revenues over (under) expenditures 1,638,644 1,237, , N/A ENDING BALANCES Nonspendable 1,98 13,914 13,914 13,914 13,914 % Assigned 4,277,74 4,75,99 4,75,99 4,75,99 4,75,99 % Restricted 666,166 1,75,481 1,75,481 1,75,481 1,75,481 % Unassigned 5,768,132 6,794,65 7,5,284 6,794,65 7,5,284 4% Fund Balance, End of Year $ 1,722,352 $ 11,96,35 $ 12,215,669 $ 11,96,35 $ 12,215,669 2%

33 ANALYSIS OF REVENUES/SOURCES AND EXPENDITURES/USES WATER AND SEWER FUND FUND NUMBER 41 ESTIMATED AMENDED ACTUAL ACTUAL ACTUAL BUDGET BUDGET % FY 216 FY 217 FY 218 FY218 FY 219 CHANGE BEGINNING BALANCE $ 15,23,289 $ 16,89,511 $ 17,625,528 $ 17,625,528 $ 13,59,139-23% REVENUES/SOURCES Charges For Services 5,664,818 5,98,219 5,744,476 5,99,459 5,857,5-1% Miscellaneous 175,814 23,839 4,935 2,818 4,935 75% Other Sources 632,926 94, ,91 4,118, ,668-97% TOTAL REVENUES $ 6,473,558 $ 6,26,747 $ 6,37,52 $ 1,31,162 $ 5,98,653-4% EXPENSES/USES Legislative 74,442 75,586 58,93 89,29 68,712-23% Administration 172, ,215 23, , ,71 6% Finance 51, ,78 64, , ,399 9% Legal 32,528 25,85 34, 34, 37,6 11% Operations 3,525,78 4,266,68 3,814,14 3,657,7 3,788,34 4% Non-Departmental 21,252 19, , ,917 6,87-95% Capital - - 4,442,625 4,393, ,2-85% Debt Service 245, ,94 86,15 86,15 495,65-42% Transfers Out 23,863-2, 2, - -1% TOTAL EXPENDITURES $ 4,66,336 $ 5,291,73 $ 1,153,891 $ 1,31,162 $ 5,98,653-4% NET INCOME (LOSS) 1,867, ,17 (4,116,389) - - N/A ENDING BALANCES Designated/Reserved/Restricted 6,564,632 6,614,268 6,614,268 6,614,268 6,614,268 % Undesignated/Unrestricted 1,325,879 11,11,26 6,894,871 11,11,26 6,894,871-37% NET POSITION, END OF YEAR $ 16,89,511 $ 17,625,528 $ 13,59,139 $ 17,625,528 $ 13,59,139-23%

34 ANALYSIS OF REVENUES/SOURCES AND EXPENDITURES/USES INFRASTRUCTURE SURTAX FUND FUND NUMBER 13 ESTIMATED AMENDED ACTUAL ACTUAL ACTUAL BUDGET BUDGET % FY 216 FY 217 FY 218 FY218 FY 219 CHANGE BEGINNING BALANCE $ - $ - $ 224,894 $ 224,894 $ 216,62-4% REVENUES/SOURCES Infrastructure Surtax - 532, , , ,454 3% Carryforward , % TOTAL REVENUES $ - $ 532,997 $ 736,454 $ 957,662 $ 736,454-23% EXPENDITURES/USES Operations - 54, ,54 78, ,454-67% Capital - 253,37 248, ,746 13, -48% Transfers Out , N/A TOTAL EXPENDITURES $ - $ 38,13 $ 745,286 $ 957,662 $ 736,454-23% Excess revenues over (under) expenditures - 224,894 (8,832) - - N/A ENDING BALANCES Designated/Reserved - 224, ,62 224, ,62-4% Undesignated N/A FUND BALANCE, END OF YEAR $ - $ 224,894 $ 216,62 $ 224,894 $ 216,62-4%

35 ANALYSIS OF REVENUES/SOURCES AND EXPENDITURES/USES INSURANCE FUND FUND NUMBER 51 ESTIMATED AMENDED ACTUAL ACTUAL ACTUAL BUDGET BUDGET % FY 216 FY 217 FY 218 FY218 FY 219 CHANGE BEGINNING BALANCE $ 85,166 $ 85,166 $ 85,166 $ 85,166 $ 75,166-12% REVENUES/SOURCES Charges For Services Charges For Insurance 352, ,12 473, ,317 51,495 8% TOTAL REVENUES $ 352,326 $ 389,12 $ 473,317 $ 473,317 $ 51,495 8% EXPENDITURES/USES Workers Compensation 139, , ,87 198,87 217,15 9% General Liability 213,13 223, ,51 274,51 293,48 7% Other Insurance N/A Operating Expenses - 1, N/A Designated for Deductibles N/A Transfer to Other Funds - - 1, 1, - -1% TOTAL EXPENDITURES $ 352,326 $ 389,12 $ 573,317 $ 573,317 $ 51,495-11% Net Income (Loss) - - (1,) (1,) - -1% ENDING BALANCES Designated/Reserved/Restricted 85,166 85,166 75,166 75,166 75,166 % Undesignated/Unrestricted N/A NET POSITION, END OF YEAR $ 85,166 $ 85,166 $ 75,166 $ 75,166 $ 75,166 %

36 ANALYSIS OF REVENUES/SOURCES AND EXPENDITURES/USES POLICE EDUCATION FUND FUND NUMBER 117 ESTIMATED AMENDED ACTUAL ACTUAL ACTUAL BUDGET BUDGET % FY 216 FY 217 FY 218 FY218 FY 219 CHANGE BEGINNING BALANCE $ 19,75 $ 18,989 $ 19,516 $ 19,516 $ 15,585-2% REVENUES/SOURCES Fines & Forfeitures Court fines 2,287 3,769 2,797 3,698 2,797-24% Parking violations 1,382 1,538 1,772 1,544 1,772 15% Use of Fund Balance , - -1% TOTAL REVENUES $ 3,669 $ 5,37 $ 4,569 $ 7,242 $ 4,569-37% EXPENDITURES/USES Training 4,43 4,78 8,5 7,242 4,569-37% TOTAL EXPENDITURES $ 4,43 $ 4,78 $ 8,5 $ 7,242 $ 4,569-37% Excess revenues over (under) expenditures (761) 527 (3,931) - - N/A DESIGNATED FUND BALANCE, END OF YEAR $ 18,989 $ 19,516 $ 15,585 $ 19,516 $ 15,585-2% - 2 -

37 ANALYSIS OF REVENUES/SOURCES AND EXPENDITURES/USES GRANTS FUND FUND NUMBER 121 ESTIMATED AMENDED ACTUAL ACTUAL ACTUAL BUDGET BUDGET % FY 216 FY 217 FY 218 FY218 FY 219 CHANGE BEGINNING BALANCE $ (51,888) $ (68,113) $ - $ - $ - N/A REVENUES/SOURCES Intergovernmental Task Force 32,4 34,2 36,9 36,9 36,9 % Justice Assistance Grants 3,789 4, N/A PBC Interlocal 29,417 72, N/A SLOT Reimbursement - 12, N/A Community Dev. Block Grant - 46, ,4 422,971 71,832-83% FEMA ,125, N/A County e911 Reimbursement ,5 14,5 4, 176% Transfers In 17,161 7, , N/A Miscellaneous 1, N/A Carryforward N/A TOTAL REVENUES $ 84,646 $ 177,643 $ 478,44 $ 474,371 $ 1,648, % EXPENDITURES/USES Development Services 79,921 34,2 36,9 36,9 36,9 % Police - 12, N/A Capital 2,95 62, ,54 437,471 1,611, % TOTAL EXPENDITURES $ 1,871 $ 19,53 $ 478,44 $ 474,371 $ 1,648, % Excess revenues over (under) expenditures (16,225) 68, N/A ENDING BALANCES Designated/Reserved (68,113) N/A Undesignated N/A FUND BALANCE, END OF YEAR $ (68,113) $ - $ - $ - $ - N/A

38 FISCAL YEAR 218/19 EXPENDITURE DETAIL PURSUANT TO FLORIDA STATUTE (2) Special Revenue Internal Service Account/Object Code General Enterprise Total Legislative - Personal Services 95,69 95, Legislative - Operating Expenses 7,44 7, Executive - Personal Services 218,86 218, Executive - Operating Expenses 4,382 4, Executive - Capital Outlay Financial and Administrative - Personal Services 359,25 359, Financial and Administrative - Operating Expenses 11,664 11, Financial and Administrative - Capital Outlay 3,5 3, Legal Counsel - Operating Expenses 15, 15, Debt Service Payments - Debt Service 59, 59, Other General Governmental Services - Personal Services - 217,15 217, Other General Governmental Services - Operating Expenses 184, ,48 477, Other General Governmental Services - Grants and Aids 1,5 1, Law Enforcement - Personal Services 5,237,185 4,569 5,241, Law Enforcement - Operating Expenses 495, , Law Enforcement - Capital Outlay 195,655 1,54, 1,735, Protective Inspections - Personal Services 588,35 588, Protective Inspections - Operating Expenses 197,28 36,9 234, Protective Inspections - Capital Outlay 3,15 3, Other Public Safety - Personal Services 38,347 38, Other Public Safety - Operating Expenses 15,556 15, Water-Sewer Combination Services - Personal Services - 1,96,768 1,96, Water-Sewer Combination Services - Operating Expenses - 2,912,35 2,912, Water-Sewer Combination Services - Capital Outlay - 666,2 666, Water-Sewer Combination Services - Debt Service - 495,65 495, Other Physical Environment - Personal Services 47,8 47, Other Physical Environment - Operating Expenses 27,781 27, Other Physical Environment - Capital Outlay 19,4 19, Libraries - Personal Services 154, , Libraries - Operating Expenses 41,953 41, Libraries - Capital Outlay 21,5 21, Parks and Recreation - Personal Services 623,61 623, Parks and Recreation - Operating Expenses 1,65, ,454 1,837, Parks and Recreation - Capital Outlay 41,35 21, , Special Events - Operating Expenses 43,34 43, Inter-Fund Group Transfers Out - Other Uses 375, 375, Grand Total 11,491,195 2,389,755 5,98,653 51,495 2,372,

39 FISCAL YEAR 218/19 REVENUE DETAIL PURSUANT TO FLORIDA STATUTE (2) Special Revenue Internal Service Account Code General Enterprise Total Ad Valorem Taxes 3,423,29 3,423, First Local Option Fuel Tax 23,213 23, Second Local Option Fuel Tax 93,89 93, Casualty Insurance Premium Tax-Police Officers' Retirement 112, , Local Gov't Infrastructure Surtax - 736, , Utility Service Tax - Electricity 931, , Utility Service Tax - Water 36,724 36, Utility Service Tax - Gas 57,595 57, Communications Service Tax (Chapter 22) 191, , Local Business Tax (Chapter 25) 275, , Building Permits 44,146 44, Franchise Fee - Electricity 691, , Franchise Fee - Gas 21,44 21, Franchise Fee - Solid Waste 491, , Special Assessment 1,45,621 1,45, Other Permits, Fees & Special Assessments 23,231 23, Federal Grant - Public Safety 1,125, 1,125, Federal Grant - Economic Environment 71,832 71, State Grant - Water Supply System State Grant - Economic Environment State Grant - Culture/Recreation 4,299 4, State Revenue Sharing - Proceeds 381, , State Revenue Sharing - Mobile Home Licenses 21,154 21, State Revenue Sharing - Alcoholic Beverage Licenses 11, 11, State Revenue Sharing - Local Government Half-Cent Sales Tax 848, , Local Government Unit Grant - Public Safety 1, 4, 41, Shared Revenue From Other Local Units 3,48 3, Payments From Other Local Units In Lieu Of Taxes 22,715 22, Internal Service Fund Fees and Charges 51,495 51, Service Charge - Law Enforcement Services 82,692 82, Service Charge - Water Utility 3,15,969 3,15, Service Charge - Sewer/Wastewater Utility 2,742,29 2,742, Service Charge - Water/Sewer Combination Utility 99,52 99, Service Charge - Parking Facilities 352,91 352, Service Charge - Other Economic EnvironmentCharges 36,9 36, Service Charge - Parks and Recreation 55,324 55, Service Charge - Special Recreation Facilities 34,58 34, Judgments and Fines - As Decided by County Court Criminal 17,83 2,797 2, Fines - Local Ordinance Violation 171,968 1, , Interest 13,91 118,68 248, Rents and Royalties 234, , Disposition of Fixed Assets 2,5 2, Contributions and Donations from Private Sources 3, 3, Other Miscellaneous Revenues 45,197 5,535 5, Inter-Fund Group Transfers In 375, 375, Appropriated Fund Balance/Net Assets - Grand Total 11,491,195 2,389,755 5,98,653 51,495 2,372,

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41 PROPERTY ASSESSMENT ANALYSIS Gross Taxable Value for Fiscal Year 218/19 $ 1,27,425,597 Adjusted Gross Taxable Value for Fiscal Year 217/18 951,37,31 Total increase in Gross Taxable Value $ 76,55,296 Percentage Increase over Prior Fiscal Year 8.% Details of Increase/(Decrease): New Construction $ 16,31, % Market conditions 6,23, % $ 76,55,296 8.% Gross Taxable Value for Fiscal Year 217/18 $ 951,37,31 Adjusted Gross Taxable Value for Fiscal Year 216/17 889,866,631 Total increase in Gross Taxable Value $ 61,53,67 Percentage Increase over Prior Fiscal Year 6.9% Details of Increase/(Decrease): New Construction $ 6,228,768.7% Market conditions 55,274,92 6.2% $ 61,53,67 6.9% Gross Taxable Value for Fiscal Year 216/17 $ 889,866,631 Adjusted Gross Taxable Value for Fiscal Year 215/16 8,868,722 Total increase in Gross Taxable Value $ 88,997,99 Percentage Increase over Prior Fiscal Year 11.1% Details of Increase/(Decrease): New Construction $ 14,259, % Market conditions 74,738,8 9.3% $ 88,997, % Gross Taxable Value for Fiscal Year 215/16 $ 8,868,722 Adjusted Gross Taxable Value for Fiscal Year 214/15 725,272,244 Total increase in Gross Taxable Value $ 75,596,478 Percentage Increase over Prior Fiscal Year 1.4% Details of Increase/(Decrease): New Construction $ 2,973,249.4% Market conditions 72,623,229 1.% $ 75,596, %

42 ESTIMATED CHANGE IN PROPERTY TAX The schedule below shows the estimated property tax paid to the Town for fiscal year 217/18 and 218/19. The proposed millage rate is remaining unchanged from the current year at 3.5. The example is one where the property owner homesteads the property and has Save Our Homes savings whereby the taxable value is less than the appraised value. The two areas analyzed are single-family homes and condominiums. The current year s assessed values are the average amounts per category, which were provided by the Palm Beach County Property Appraiser. The assessed value is based on the current year plus 2.1% as determined by Florida Statute. A question sometimes asked is, How is it possible that my market value dropped from last year, but my assessed value increased? This answer comes from an administrative code that requires the assessed value of a property to be increased when the current year s market value exceeds the prior year s assessed value. Of the 39 municipalities in Palm Beach County levying property taxes, the Town is the 18 th lowest rate when comparing the combined TOTAL proposed millage rates of all authorities, according to the Property Appraiser. FY 17/18 FY 18/19 Tax Change % Change Single Family Assessed Value* $229,861 $234,688 Homestead Exemption ($5,) ($5,) Taxable Value $179,861 $184,688 Millage Rate Property Tax $63 $646 $17 3% Condominium Assessed Value $113,37 $115,411 Homestead Exemption ($5,) ($5,) Taxable Value $63,37 $65,411 Millage Rate Property Tax $221 $229 $8 4% * For properties that are homesteaded; the 218/19 Save Our Homes cap is.7%

43 WHERE YOUR TAX DOLLARS GO Using the total taxable value for fiscal year 218/19 of $1,27,425,597, the chart below illustrates the approximate total levy of $2,626,187 for all Town of Lantana taxpayers and how the money is allocated across the taxing authorities. Please note that Florida Inland Navigation District s actual percentage is.159% of the total which rounds down to zero

44 WHERE YOUR TAX DOLLARS GO (continued) Below are three comparisons for a property with a taxable value of $1,, $2,, and $3,, respectively. Tax Bill Comparison 218/19: $1, Taxable Value Taxing Authorities Taxable Value Tax Rate / $1, 218/19 Total Tax Palm Beach County Schools $1, X $657 Palm Beach County $1, X $49 Fire/Rescue $1, X $346 Town of Lantana $1, X 3.5 $35 Health Care District $1, X.74 $74 Children's Services $1, X.643 $64 South Florida WMD $1, X.2936 $29 Florida Inland Navigation District $1, X.32 $3 Total Millage $1, X $2,13 Tax Bill Comparison 218/19: $2, Taxable Value Taxing Authorities Taxable Value Tax Rate / $1, 218/19 Total Tax Palm Beach County Schools $2, X $1,314 Palm Beach County $2, X $98 Fire/Rescue $2, X $692 Town of Lantana $2, X 3.5 $7 Health Care District $2, X.74 $148 Children's Services $2, X.643 $128 South Florida WMD $2, X.2936 $59 Florida Inland Navigation District $2, X.32 $6 Total Millage $2, X $4,27 Tax Bill Comparison 218/19: $3, Taxable Value Taxing Authorities Taxable Value Tax Rate / $1, 218/19 Total Tax Palm Beach County Schools $3, X $1,972 Palm Beach County $3, X $1,469 Fire/Rescue $3, X $1,37 Town of Lantana $3, X 3.5 $1,5 Health Care District $3, X.74 $222 Children's Services $3, X.643 $192 South Florida WMD $3, X.2936 $88 Florida Inland Navigation District $3, X.32 $1 Total Millage $3, X $6,4-28 -

45 COMBINED PROPOSED MILLAGE RATES FOR ALL TAXING AUTHORITIES