Budget In Brief Overview

Transcription

1 Budget In Brief Overview Second Public Hearing -- Fiscal Year 2015 Budget This Budget in Brief presents a condensed overview of the fiscal year 2015 budget for the city of St. Petersburg, Florida as recommended to City Council on July 1, 2014 with proposed amendments to be presented at the second public hearing. This report is intended to give citizens information on the 2015 budget, by using charts and graphs to aid in the presentation of the material. The city budget year runs from October 1 st until September 30 th of the following year, as required by state statute. State law also requires two public hearings on the proposed budget; the first hearing was held on September 4 th at 6:00 PM at City Hall in Council Chamber at th St. North, St. Petersburg, Florida. The second public hearing is scheduled for September 18 th at 6:00 PM, in the same location. Public input is welcome. City Council tentatively adopted the budget at the first hearing and will adopt the budget as final at the second hearing. Changes can be made up to the final adoption. Earlier in the year, Mayor Kriseman held three community budget summits to solicit ideas from the public before he submitted his recommended budget. Suggestions received at those summits had significant influence on the recommended version of the budget that was submitted to council on July 1, The numbers presented in this Budget in Brief represent the Mayor s recommendations presented to City Council on July 1 st with proposed amendments which were presented at the first Public Hearing held on September 4, We hope you find this information useful. If you require more detail on the budget, the entire budget is online at City of St. Petersburg Budget Department th Street North, St. Petersburg, Florida (727)

2 RE: FISCAL YEAR 2015 OPERATING BUDGET AND FISCAL YEAR CAPITAL IMPROVEMENT PROGRAM This year, I have worked with input from residents and city staff to develop a budget which encompasses our Values and Strategic Pathways, leading us toward our city s vision. This Budget in Brief reflects my balanced budget recommendation with proposed amendments for Fiscal Year 2015 delivered to City Council on July 1, The Fiscal Year 2015 budget does more than fund the Operating and Capital Improvement Budgets for our city it reflects our common values, incorporates our strategic pathways, and puts us one step closer to attaining our shared vision. This budget is informed by what our community values, and I am appreciative of the commitment to civic engagement that so many of our residents have demonstrated during its development. I believe we have been responsive to their desires and that the budget process has been inclusive. Below are highlights of our funding priorities. 2

3 Neighborhood Affairs Administration Total Budget $6.207 Million I am committed to making our neighborhoods strong and vital, while creating opportunity for the families who occupy them. The Fiscal Year 2015 Budget includes the reestablishment of the Neighborhood Affairs Administration which includes Housing, Community Services, Codes Compliance, and Veteran, Social & Homeless Services. This budget includes a total investment of $6.207 million in the Neighborhoods Administration and proposes the following increased investments in these departments: Investment Housing Programs $350,000 (in the CIP for Southside CRA) Neighborhood Grants $ 175,000 (in the CIP) Codes Compliance (3 new positions) $ 162,000 St. Vincent DePaul (homeless program) $ 75,000 Summer Youth Employment $ 25,000 (increase to $275,000 total) After School Youth Employment $ 50,000 Pinellas Safe Harbor $ 50,000 (increase to $150,000 total) Total New Investments $887,000 Planning and Economic Development Department Total Budget $ 3,410,272 I am committed to economic development and to attracting and retaining the high paying jobs we all want in our city. The total budget for the Planning & Economic Development Department is $3.410 million and includes continued funding of our Greenhouse partnership with the Chamber of Commerce, Mainstreet programs for development throughout the city as well as increased investments that will allow us to better position our city to retain and attract quality employers. Business Recruitment Activities $100,000 Small Business Retention (Greenhouse) $ 50, Wrap Around Program $ 30,000 Tampa Bay Black Business Incubator $ 25,000 Total New Investment $205,000 Marketing & Cultural Affairs Department Total Budget $2,801,034 Telling the story of who we are in a way that reflects our city s progress, sophistication and culture reinforces St. Petersburg as a top choice for residents, employers, employees and tourists. A strong marketing program will complement our economic development efforts and boost retention of businesses and residents. Among our many cultural priorities is a strong and vibrant arts community, which serves as an integral part of our marketing and economic development efforts. To begin the important process of rebuilding our city s marketing resources I have included the following increase in the FY15 Budget: Advertising & Marketing $700,000 Cultural Affairs $100,000 (increase to $175,000) Early Childhood Education $ 50,000 Total New Investment $850,000 3

4 Salary Increase The Fiscal Year 2015 Budget will invest in our most important asset, the men and women who provide outstanding service to our residents. Resources are currently in the contingency line. The final amount to be invested will be the subject of negotiation with the various collective bargaining units. My commitment to providing additional raises in subsequent fiscal years remains strong. Economic Stability Fund An investment of $1 million in our reserves is planned in FY15. This investment is included in the transfer to the Economic Stability Fund line item in the General Fund and will help to maintain strong reserves and our credit rating. This is the first time in 7 years that we have transferred $1 million to support the economic stability of our city. As our economy continues to rebound we will maintain a focus on this priority, in keeping with our commitment to fiscal stewardship and responsibility. Mayor Rick Kriseman 4

5 BUDGET FACTS The city s fiscal year begins October 1 st and ends September 30 th. This is the timeframe specified by state law for all local government budgets. Florida Statutes also require that budget appropriations be made each year and that each year s budget be balanced. Each year the City Council approves an operating budget and a capital improvement budget. The capital improvement budget is part of a multi-year Capital Improvement Program (CIP). In accordance with the City Charter, the mayor presents a recommended budget to City Council on or before July 1 st each year. The FY15 budget was presented to City Council on Monday, June 30, The schedule for adoption of the annual budget is governed by Florida Statutes. Two official public hearings are required for adoption of the FY15 budget. The first public hearing occurred on September 4, The second public hearing is scheduled for 6:00 p.m. at City Hall on September 18, In addition to state law and the City Charter, Council has adopted a series of Fiscal Policies that provide guidance in developing the annual budget. These guidelines cover such areas as revenue forecasting, fund balances, investing city monies, and issuing debt. City monies are budgeted and accounted for in a number of different funds. This allows monies which must be spent for certain purposes to be separated, and it helps show the full cost of certain city operations. The types of funds in the city s budget are: THE GENERAL FUND, which supports all o f the services of general government that are not required to be accounted for separately. This includes police and fire services, regulatory services, such as codes, planning and zoning, leisure services like parks and recreation, and general administrative functions, such as the Mayor s Office, City Council, accounting, personnel and purchasing. ENTERPRISE FUNDS, which account for the full cost of operations, maintenance and capital improvements of city, operated businesses like Water Resources, Sanitation and Golf Courses. SPECIAL REVENUE FUNDS, which segregate monies received or set aside for specific purposes and activities which need to be accounted for separately. These include countyfunded Emergency Medical Services, the Parking Revenue Fund, Building Permit Fund, the Law Enforcement Fund, which includes revenues from the forfeiture and seizure of property, and other funds which account for revenues pledged for debt or which isolate grant monies. INTERNAL SERVICE FUNDS, which include the insurance and workers compensation costs a n d the city s internal support services, such as data processing and fleet maintenance. The departments served by these funds pay these costs. DEBT SERVICE FUNDS, from which payments of principal and interest are made for monies the city borrows. 5

6 BUDGET FACTS The following city operations are self supporting enterprises for which fees charged to users are intended to pay the full cost of operations: Water Resources (water, sewer, reclaimed water) Stormwater Sanitation Marina Airport Golf Courses Jamestown Housing Port Mahaffey Pier Coliseum Sunken Gardens Tropicana Field The following city operations are tracked separately in special funds: Emergency Medical Services Parking Building Permits Weeki Wachee In FY15, all city of St. Petersburg property taxes collected will be dedicated for the Police Department, covering nearly 96% of police costs. Other city general revenues pay for: Fire Services Operation and maintenance of city libraries, senior centers, athletic and recreational facilities Mowing and maintenance of parks and rights-of-way Traffic signs, signal control and street lighting School crossing guard protection Maintenance of engineering records, maps, GIS, etc. Planning and zoning services Codes inspections and compliance Community/customer services Historic and environmental preservation Intergovernmental coordination Acquisition and management of city property Economic development and redevelopment coordination Support of community social, cultural and educational programs Subsidies for the Mahaffey Theater, Coliseum, Port, Sunken Gardens Mayor and Council activities City administrative services, such as legal, purchasing, human resources, budget, and finance Debt service 6

7 FY15 Operating Budget $ Million Other Operating Funds, 11% Sanitation, 9% The FY 15 Operating Budget is made up of the General Fund, Enterprise Funds (Water Resources, Sanitation and Stormwater) as well as Other Funds (debt service funds, special revenue fund and internal service funds). Stormwater, 2% Water Resources, 24% General Fund & Reserves, 45% Non Operating, Special Revenue & Debt Funds, 9% Operating Millage History FY90 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 The millage rate for FY15 is and is the same as FY14. The table provides a history of the millage rate from FY 2006 to FY It also includes the millage rate from 1990 as a point of reference. The FY 1990 millage rate included operating millage rate and voted debt millage rate. 7

8 Fiscal Year 2015 Budget General Fund Expenses by Administration and Revenues The city s General Fund is categorized into six administrations. The single largest General Fund investment the city makes is in Public Safety (57%). Public Safety includes the Police and Fire Departments. The second largest General Fund investment is in the quality of life type programming provided by the Leisure Services Administration which includes the Parks & Recreation Department, Pools and Libraries. General Government, 14.5% or $31.359M Neighborhood Affairs, 2.87% or $6.208M Public Works, 5.15% or $11.145M Leisure Services, 17.99% or $ M General Fund Expense by Administration $ Million City Development, 2.89% or $6.259M Public Safety, 56.6% or $ M FY15 General Fund Revenues $ Million Fines & Forfeitures, 1.35% or $2.913M Charges for Services, 5.06% or $ M Intergovernmental 12.05% or $ M Interest/Misc, 0.65% or $1.402 M G&A/PILOT, 11.78% or $ M Other Taxes, 27.45% or $ M Transfers, 0.74% or $1.603 M Ad Valorem Taxes, 40.92% or $ M The General Fund Revenues come from various sources as illustrated in the chart on the left. The largest single source of revenue is Ad Valorem (property taxes) at 40.92% followed by Other Taxes at 27.45%. The Other Taxes are made up of Electric Utility Tax, Electric Franchise Fee, Communication Services Tax to name a few. 8

9 Where Does Your Tax Dollar Go? 40% 27% 21% 12% Pinellas County Schools City of St. Petersburg Pinellas County Operating Fund EMS SWFWMD Health Dept. PPC/JWB/PSTA Your property tax bill contains more than just your city taxes. As illustrated above 27% of your total property tax bill goes to the City of St. Petersburg. In addition to the city your taxes help to fund the Pinellas County School District, Pinellas County Government, EMS, the Juvenile Welfare Board and the Pinellas Suncoast Transit Authority to name a few. The example above assumes a property with $150,000 assessed value and a homestead exemption of $50,000 for all taxing authorities, except the Pinellas County School System, which allows a $25,000 homestead exemption. The City s Fiscal Policies state that 100% of the property tax revenues collected annually will be used to fund the Police Department. The bar graph below shows the comparison of Ad Valorem revenues compared to the Police Department s annual budget. In FY15 Ad Valorem revenues will cover 96% of the Police Department budget. Ad Valorem Revenue vs. Police Costs (000s Omitted) 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10, ,914 86,172 83,109 85,015 74,923 84,442 69,616 86,242 78,561 91,713 81,737 90,719 88,262 91,237 FY09 FY10 FY11 FY12 FY13 FY14 FY15 Ad Valorem Tax Revenue Police Operating Budget 9

10 RECOMMENDATIONS WHICH COULD AFFECT CITIZEN SERVICE OR FEES IN FY15 Property Values & Millage Rate Property values within the city will increase during Fiscal Year The FY15 Budget reflects an increase in property values of 8.17% (city wide) which generates $6.525 million in additional ad valorem revenue as compared to FY14. The proposed millage rate for FY15 is which is equal to the millage rate in FY14. It should be pointed out that even though the proposed millage rate is the same as last year, your property tax bill may increase as a result of the increase in your property value. The Rolled Back Rate Under the Truth in Millage Statute, the city is required to calculate and report the Rolled Back Rate. In short, the Rolled Back Rate is the millage rate that would generate the same level of ad valorem taxes in FY15 as the city received in FY14. Based on the property value appreciation within the city as of July 1, 2014, the Rolled Back Rate for FY15 is If the FY15 Budget is adopted with a millage rate of that will equate to a 7.05% increase over the Rolled Back Rate Enterprise Funds Water Resources The FY15 Budget includes an increase of 4.75% for water, sewer and reclaimed water charges. On September 4, 2014 City Council held the first Public Hearing to adopt this year s rate increase. Additionally, the FY15 Budget holds sanitation fees (garbage collection) and stormwater fees at FY14 levels. The sanitation fees have not been increased since 2009 while the stormwater fees have not increased since Other Strategic Investments Economic Stability Fund An investment of $1 million in our reserves is planned in FY15. This investment is included in the transfer to the Economic Stability Fund line item in the General Fund and will help to maintain strong reserves and our credit rating. This is the first time in 7 years that we have transferred $1 million to support the economic stability of our city. As our economy continues to rebound we will maintain a focus on this priority, in keeping with our commitment to fiscal stewardship and responsibility Salary Increase The Fiscal Year 2015 Budget will invest in our most important asset, the men and women who provide outstanding service to our residents. Resources are currently in the contingency line. The final amount to be invested will be the subject of negotiation with the various collective bargaining units. My commitment to providing additional raises in subsequent fiscal years remains strong. 10

11 FY 2015 General Fund Expense by Category $ Million Capital Outlay/Social Services, 1.6% or $3.456 M Transfers/Debt, 6.76% or $ M The single largest expense category of the General Fund is Personnel at 70.6% of the total. The personnel budget includes the wages and benefits of all 2,701 full time employees as well as the nearly 800 part time employees. Operating Expense, 21.07% or $ M Personnel, 70.57% or $ M 2,800 Full-Time Employees Five Year History (Budgeted) 2,733 2,700 2,693 2,679 2,681 2,701 2,600 FY11 FY12 FY13 FY14 FY15 11

12 A look at the FY15 Budget: GENERAL FUND Budget & Management $8,260,821 City Clerk 1,211,837 City Council 990,577 City Development Administration 896,858 Codes Compliance 3,177,242 Community Services 971,273 Downtown Enterprise Facilities 538,429 Engineering and Capital Improvements 1,062,906 Finance 10,156,401 Fire 31,193,199 Housing 755,852 Human Resources 2,853,393 Legal 2,652,002 Leisure Services Administration 305,112 Library 6,141,559 Marketing & Communications 2,851,034 Mayor's Office 1,733,931 Neighborhood Affairs 1,303,187 Office of the City Auditor 649,342 Parks & Recreation 32,464,159 Planning & Economic Development 3,410,272 Police 91,236,875 Procurement & Supply Management 1,200,892 Public Works Administration 5,379,061 Real Estate & Property Management 770,807 Stormwater, Pavement & Traffic Ops 3,502,669 Transportation & Parking Management 642,466 Total General Fund $216,312,156 ENTERPRISE FUNDS Water Resources $114,150,009 Water Cost Stabilization 1,215,810 Stormwater 11,921,351 Sanitation 41,930,392 Sanitation Equipment 2,717,800 Parking 5,871,687 Mahaffey Theater 4,645,971 Pier 422,400 Coliseum 784,922 Sunken Gardens 1,019,481 Tropicana Field 2,359,280 Airport 1,087,981 Marina 3,528,724 Golf Courses 3,598,531 Jamestown 576,587 Port 355,980 Total Enterprise Funds $196,186,906 SPECIAL REVENUE FUNDS/OPERATING Emergency Medical Services $13,175,795 Local Assistance Housing 275,050 Law Enforcement Fund 92,100 Grant Funds (CDBG, HOME, ESG,NSP) 3,007,557 Miscellaneous Trust Funds 1,000,000 Building Permit 4,219,278 Total Special Revenue Funds/Op. $21,769,780 INTERNAL SERVICE FUND RESERVES Fleet Management $646,340 Equipment Replacement 1,682,013 ICS 445,473 Technology 2,509,625 Commercial Insurance 67,847 Workers Compensation 29,132 Total Internal Service Fund Reserves $5,380,430 SPECIAL REVENUE/NON OPERATING Special Assessments $41,196 School Crossing Guards Trust 300,000 Weeki Wachee 138,000 Arts in Public Places 35,000 Professional Sports Facility Sales Tax 2,000,004 Total Special Revenue Funds/Non Op. $2,514,200 DEBT SERVICE FUNDS JP Morgan Chase $3,401,814 First Florida Gov. Financing Comm. Notes 2,699,075 Bank of America Notes 192,134 BB&T Notes 775,114 Stadium (Excise Tax) Debt Service 8,406,550 Pro Sports Facility Sales Tax Debt 286,495 Water Resources Debt 24,374,145 Stormwater Debt 1,055,680 Total Debt Service Funds $41,191,007 TOTAL BUDGET $483,354,479 12

13 Budget Continued The following allocations are included in the above appropriations: NON- DEPARTMENTAL Community Support: Social Services $486,000 Pinellas Hope/Emergency Beds 145,000 Homeless Services 180,000 St. Vincent DePaul 75,000 Pinellas Education Foundation 75,000 Turning Point 125,000 Arts 213,000 Festival of States 35,000 First Night 25,000 MLK Parade 35,000 Museum of History 12,000 MLK Free Speech Event 17,000 Blue Ocean Film Festival 25,000 Early Childhood Development Program 50,000 Florida Orchestra 38,000 Main Streets 176,000 Economic Development 201,950 Neighborhood Grants 30,000 Workforce Readiness 35,000 After School Work Program 150,000 Summer Youth Intern 275,000 Total Community Support $2,403,950 DEPENDENT DISTRICTS Health Facilities Authority $14,000 Downtown Redevelopment District 4,263,338 Total Dependent District $4,277,338 INTERNAL SERVICE ALLOCATIONS Fleet Management $16,799,595 Equipment Replacement 6,557,086 Municipal Office Buildings 2,676,769 Information & Communication Services 10,034,621 Technology and Infrastructure 1,118,419 Supply Management 437,692 Health Insurance 44,064,402 Life Insurance 845,203 Self Insurance 2,077,541 Commercial Insurance 4,972,924 Workers Compensation 10,172,965 Billing & Collections 8,646,564 Total Internal Service $108,403,781 Subsidies: Mahaffey Theater $489,000 Pier 380,000 Coliseum 267,500 Sunken Gardens 213,000 Tropicana Field 1,300,000 Jamestown 60,000 Port 222,500 Total Subsidies $2,932,000 Transfers: Economic Stability $1,000,000 Housing CIP 350,000 General CIP 1,000,000 Downtown TIF 5,507,521 Bayboro TIF 24,730 Intown West TIF 414,213 Total Transfers $8,296,464 Contingency $3,392,616 TOTAL NON-DEPARTMENTAL $17,025,030 13

14 CAPITAL IMPROVEMENT PROGRAM $ Million Project total only The annual Capital Improvement Program (CIP) budget is approved by City Council at the same time the Operating Budget is approved. The FY15 CIP includes a total of $ million in capital projects. Water Resources Projects account for $ or 54% while Penny for Pinellas projects account for $ or 30% of the total. Water Resources 54% Other Funds 16% Penny Funds 30% Penny for Pinellas CIP Funds FY 2015 Penny For Pinellas revenues: $ million The multi-year allocation plan balances the distribution of dollars for the projects within the categories approved in the original referendum. ($ 000s ($000s) Omitted) 30,000 25,000 20,000 15,000 10,000 5,000 0 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 Public Safety Capital Improvement Neighborhood/Citywide Infrastructure Recreation/Culture Capital Improvements City Facilities Capital Improvements Note: The Penny for Pinellas is a one-cent sales surtax for infrastructure approved by the voters for the third time in 2007 and is in effect from February 1, 2010 to January 31,

15 FY15 Capital Improvement Program (CIP): HOUSING CIP Legal Collection $25,000 Neigh. Blight Elim./Housing Strategy 350,000 Total Housing $375,000 GENERAL CIP Plaza Parkway $200,000 RNI Fuel System Upgrade 150,000 Fleet Wash Rack Upgrade 300,000 Fleet In-Ground Lift Replacement 300,000 Fleet Alignment Rack Upgrade 50,000 MOB Repairs & Improvements 400,000 Skyway Marina Dist. Restaurant Incentive 50,000 South St. Petersburg Redevelopment 166,000 Traffic Safety Plan 118 th Ave. N Trees 40,000 Total General Capital $1,656,000 BICYCLE/PEDESTRIAN SAFETY GRANTS Bicycle Facility Phase II $674,000 Pedestrian Crosswalk Enhancements 36,000 Treasure Island Trail 643,000 Total Bicycle/Pedestrian Safety Grants $1,353,000 PUBLIC SAFETY CIP Fire Engine 11 Replacement $276,000 Fossil Park Fire Station 7 Renovation 240,000 Total Public Safety $516,000 NEIGHBORHOOD & CITYWIDE INFRASTRUCTURE CIP Special Assessments $150,000 Neighborhood Partnership Grants 175,000 Neighborhood Enhancements 175,000 Street & Road Improvements 4,500,000 Curb Replacement/Ramps 500,000 Sidewalk Reconstruction/Expansion 600,000 Roser Park Street Improvements 500,000 Alley Reconstruction - Unpaved 300,000 Alley Reconstruction - Brick 200,000 Bicycle Pedestrian Facilities 50,000 Skyway Marina District Streetscaping 500,000 Intersection Modification 50,000 Neighborhood Transportation Mgmt 50,000 Wayfaring Signage 400,000 Bridge Reconstruction 250,000 MLK S. over Book Creek Bridge 1,450,000 Dredging Channel G,H,L,I,J,M,N,&K 400,000 4 th St. & 14 th A/N to Crescent Lake SDI 400,000 South St. Pete Redevelopment 959,000 Airport Hangar #2 400,000 Seawall Renovation & Replacement 400,000 Total Neighborhood & Citywide $12,409,000 RECREATION & CULTURE CIP Campbell Park Center Additions/Improv. $1,050,000 Recreation Center Improvements 175,000 Willis Johns Center Improvements 50,000 Swimming Pool Improvements 244,000 Northshore Aquatics Complex Restroom 1,150,000 Athletic Field Lighting Improvements 500,000 Athletic Facilities Improvements 160,000 Dugout Replacements 60,000 Outdoor Court Facility Improvements 285,000 Demens Landing Improvements 200,000 Lake Maggiore/Boyd Hill Park 500,000 Park Restroom Renovations 210,000 Park Facilities Imp 250,000 Parking Lot Improvements 125,000 Parks Lighting Imp 125,000 Play Equipment Replacement 250,000 Restoration to Parks Fountains/Statues 100,000 Sunken Gardens Park Improvements 160,000 Sunken Gardens Pond Restoration 150,000 Mahaffey Theater Improvements 525,000 Mahaffey Theater Banquet Facility 120,000 Mahaffey Theater Orchestra Shell 30,000 Coliseum Improvements 100,000 Coliseum Floor Replacement 70,000 Total Recreation & Culture $6,589,000 CITY FACILITIES CIP Dwight Jones Neigh. Center Imp. $115,000 Fire Station Major Improvements 100,000 City Facilities Roof Waterproofing 200,000 City Facility HVAC Replace/Upgrade 150,000 Infrastructure to be Determined 185,000 Environmental Cleanup Projects 50,000 Total City Facilities $800,000 TRANSPORTATION IMPACT FEES Gateway Areawide DRI Mitigation Prog. $100,000 I-175 On Ramp/4 th Street S. 2-Way 500,000 City Trails - Bicycle Trails 950,000 Downtown Intersections & Ped. Fac. 125,000 Sidewalks 200,000 Traffic Safety Program 250,000 Total Transportation Impact Fees $2,125,000 15

16 Capital Improvement Program continued... DOWNTOWN PARKING CIP Baywalk Garage Waterproofing $200,000 Midcore Garage Improvements 100,000 Parking Meter Technology 200,000 Total Downtown Parking Capital $500,000 WATER RESOURCES CIP Water Treatment/Supply $1,100,000 Water Distribution System Improvements 6,787,000 Sanitary Sewer Collection System 6,995,000 Lift Station Improvements 1,250,000 Water Reclamation Facilities Imp 20,552,000 Reclaimed Water System Imp 125,000 Environmental Compliance 110,000 Computerized System Imp 225,000 Total Water Resources $37,144,000 AIRPORT CIP Airport Hangar #2 $1,600,000 Airport Runway 7/25 & TW1 Stub Conn. 1,118,000 Total Airport $2,718,000 MARINA CIP Marina Facility Improvements $500,000 Marina Total $500,000 TOTAL CIP FUNDS $68,364,000 STORMWATER DRAINAGE CIP 94 th A/N at Tinney Creek $1,179,000 Minor Storm Drainage 250,000 Drainage Line Rehab 250,000 Total Stormwater Drainage $1,679,000 16

17 PROPERTY TAXES MILLAGE RATE The property tax rate is expressed in mills and is also called an ad valorem tax because it is based on value. A MILL is $1 for every $1,000 of taxable property value (your assessed value minus any exemptions). The operating millage cannot exceed 10 mills. The city s FY14 operating millage was mills. The proposed millage for FY15 is mills. AD VALOREM TAXES The certified value for all taxable property assessed on July 1, 2014 is $ billion, an increase of 8.17% over last year s final taxable value. The budget is prepared based on 96% of the taxable value to allow for Tax Collector fees, under collection and changes by the Value Adjustment Board. For the FY15 budget, this taxable value is projected to generate $ million for each mill levied by the city. EXEMPTIONS The Florida Constitution provides for a homestead exemption benefit of a $50,000 from a property s assessed value for Florida residents living in a dwelling and making it their permanent home on January 1 st of each year. Cities and counties also have been authorized by state legislation to approve an additional Homestead Exemption under the Save Our Seniors Amendment. In October 2000, City Council approved an Ordinance authorizing an additional $15,000 exemption. The Property Appraiser is responsible for processing and verifying applications. To qualify, a household must have at least one member age 65 or older and have a combined income of $21,599 per year or less. When property owners appeal their appraised value to the Value Adjustment Board, it can reduce the city s total taxable value. The final taxable value for FY15 will be received from the Property Appraiser s office after the beginning of Fiscal Year USES All property taxes resulting from the city s operating millage will cover approximately 96.73% of the cost of police services in FY15. Remaining general government services and the balance of police costs will be paid from other general revenues of the city. Your property tax bill contains more than just your city taxes. You also pay property taxes to the Pinellas County Board of County Commissioners, the School Board, the Southwest Florida Water Management District, the Pinellas Planning Council, the Juvenile Welfare Board and the Pinellas Suncoast Transit Authority. Generally, your City taxes will make up approximately 27% of your total property tax bill. Even when the city s tax rate r e m a i n s c o n s t a n t o r is reduced, you may pay more taxes if your property value increases or other taxing authorities raise their rates. 17

18 CITY OF ST. PETERSBURG PROGRAM BUDGET FY 2015 BUDGET PREPARATION CALENDAR February 7, 2014 April 23, 2014 Operating Budget Kickoff at City Water Resources Building Mayor s Budget Summit at Walter Fuller Recreation Center Budget Staff Departments City Council Mayor Budget Staff May 7, 2014 CIP Budget Workshop with Council (City Hall) City Council Mayor Budget Staff Administrators May 14, 2014 Operating Budget Workshop with Council City Council Mayor Budget Staff Administrators May 14, 2014 Mayor s Budget Summit at Wildwood Recreation Center City Council Mayor Budget Staff June 2, 2014 Estimate due from Property Appraiser County Property Appraiser June 18, 2014 Mayor s Budget Summit at Willis S. Johns Recreation Center City Council Mayor Budget Staff July 1, 2014 Receive Certified Taxable Values County Property Appraiser July 1, 2014 Mayor s Recommended Budget issued Mayor Council July 24, 2014 September 4, 2014 September 18, 2014 Set proposed millage rate for TRIM notice, date, time, and place of first Public Hearing, and reaffirm fiscal policies First Public Hearing Adopt budget and tax rate Public Hearing - Adopt final budget and tax rate. Approve the capital improvement program City Council Mayor City Council Mayor City Council Mayor 18