Schedule of Ad Valorem Taxes and Required Millage 2014/2015 2015/2016 Revenue Millage Revenue Millage County-Wide General Fund $55,189,120 6.9917 $54,333,258 6.6738 Transporta on 5,506,520 0.6976 5,679,356 0.6976 Health Department 759,357 0.0962 683,868 0.0840 BOCC County-Wide Total $61,454,997 7.7855 $60,696,482 7.4554 Special Districts Library Services $2,630,910 0.3333 $2,630,910 0.3333 Fire Protec on 5,173,772 0.6926-0.0000 Fire Rescue MSTU - 0.0000 4,188,955 0.5768 Stormwater MSTU 711,905 0.1000 726,241 0.1000 Special Districts Total $8,516,587 1.1259 $7,628,684 1.0101 Total Millage $69,971,584 8.9114 $68,325,166 8.4655 Summary of Total Budget 2014/2015 2015/2016 Change General Fund $88,694,496 $90,045,366 1.52% Health Department 789,984 700,917-11.27% Transporta on Funds 30,814,452 35,107,166 13.93% Debt Service Funds 4,144,795 4,139,445-0.13% Special Revenue Funds 4,941,255 6,725,714 36.11% Internal Service Funds 11,405,765 13,225,813 15.96% Enterprise Funds 75,169,847 76,462,659 1.72% Special Assessments 8,701,892 8,086,573-7.07% Impact Fees 4,757,164 2,855,836-39.97% Library Services 4,138,808 3,809,113-7.97% Fire Rescue 9,852,853 9,824,720-0.29% Total Budget $243,411,311 $250,983,322 3.11% 45
Millage Rate History The budget reflects a.4459 mills decrease in the total millage rate. The Health Department millage decreased from 0.0962 to 0.0840, or.0122 mills, to reduce the County contribu on 10%. The General Fund millage decreased from 6.9917 to 6.6738, or.3179 mills, by u lizing the Board s savings account and scru nizing processes. The Board implemented a new Fire Rescue EMS MSTU for the unincorporated areas of the County and set the Fire District tax that included the City of Inverness to zero. Taxable Value History The above chart represents the historical taxable value with the percentage increase/(decrease) from the prior year. The chart depicts a seven year decline of 36.3 percent from FY 07/08 to FY 14/15. FY 15/16 an cipates an increase of 3.03% 46
Property Value History Year Final Valua on Millage Taxes Net Budget * 2007 11,589,306,439 7.1450 82,903,323 192,906,369 2008 12,380,488,916 6.6584 82,249,144 225,122,470 2009 10,899,783,397 6.4967 70,899,153 204,814,653 2010 10,025,159,269 6.4967 65,236,623 194,353,867 2011 9,582,636,515 6.4967 62,245,176 177,308,090 2012 9,316,089,786 6.8083 63,215,255 174,064,556 2013 9,043,459,879 7.1033 63,421,314 171,875,912 2014 8,160,777,743 8.9999 73,053,243 175,038,484 2015 7,856,463,122 8.9114 69,971,584 180,283,052 2016 8,094,151,446 8.4655 68,325,166 180,473,338 * Net Budget excludes reserves accounts established to record fund balance. 47
Property Tax on Average Residen al Home With a Taxable Value of $101,316 less the Homestead Exemp on of $25,000 and less a Non- School Exemp on of $25,000 for values between $50,000 and $75,000 Total Tax Bill $1,023.93 This represents a typical Ad Valorem tax no ce. Ad Valorem taxes account for approximately 60% of the General Fund revenues. Ad Valorem taxes are levied against real estate and certain personal, non-real estate property held for commercial or investment purposes. The no ce of Ad Valorem taxes which is mailed out to property owners of record in Citrus County incorporates a millage rate made up of five components. Millage is an expression of the number of mills per dollar of assessed valua on levied. The Homestead Exemp on is available to permanent residents of the County, and excludes the first $25,000 of appraised value. On January 29, 2008, an amendment was approved which provides an addi onal $25,000 of homestead exemp on for values between $50,000 and $75,000. This addi onal exemp on does not apply to the School. MILLAGE RATE TAXING AUTHORITY 8.4655 General Government - Represents the opera ng millage levied by the County and goes toward providing county-wide func ons including the Sheriff, courts and judicial systems, health department, parks and other government responsibili es; maintenance of road systems for residents in unincorporated areas; provide library services; provide fire protec on; 7.1890 Public Schools - Comprised of 4.9410 local effort required of the Citrus County School Board by the State,.7480 discre onary millages and 1.5000 mills for district local capital improvements of the Citrus County School Board; 0.4478 Mosquito Control - Levy by the Mosquito Control District; 0.3488 Water Management - Levy by the Southwest Florida Water Management District; to provide protec on of water and waterways in Citrus County. 16.4511 TOTAL MILLAGE 48
Summary of Total Budget by Fund Type General Fund Transporta- on Fire/ Library Special Revenue Enterprise Other Total REVENUES Ad Valorem Taxes $54,333,258 $6,405,597 $6,902,443 $683,868 $ - $ - $68,325,166 Other Taxes 1,700,000 5,696,300-847,500 45,000-8,288,800 Licenses and Permits - - 4,583,777-1,900,000 1,877,561 8,361,338 Intergovernmental Revenue 10,504,500 2,356,000 100,000 72,000-306,119 13,338,619 Charges for Services 5,352,074 - - 8,039,179 19,761,215-33,152,468 Fines and Forfeitures 158,750 - - 57,026 8,000-223,776 Miscellaneous Revenues 1,596,006 182,475 77,500 1,079,943 308,400 364,305 3,608,629 Other Non-Opera ng Revenue - - - - 688,583-688,583 Statutory Reserves (3,682,230) (732,019) (583,187) (147,417) (1,101,131) (112,120) (6,358,104) Sub-total 69,962,358 13,908,353 11,080,533 10,632,099 21,610,067 2,435,865 129,629,275 Cash Carry Forward 17,318,671 19,534,613 2,528,300 7,178,100 51,108,593 8,823,128 106,491,405 Interfund Transfers 2,764,337 1,664,200 25,000 2,842,245 3,743,999 3,822,861 14,862,642 TOTAL $ 90,045,366 $ 35,107,166 $ 13,633,833 $ 20,652,444 $ 76,462,659 $ 15,081,854 $250,983,322 EXPENDITURES Personnel Services $ 35,786,081 $ 5,077,325 $ 8,035,911 $ 7,524,682 $ 6,922,833 $ 67,031 $ 63,413,863 Opera ng Expenses 30,421,192 2,857,885 2,601,440 5,952,907 9,386,778 1,218,969 52,439,171 Capital Outlay 2,166,356 11,687,270 897,185 1,175,451 9,409,236 708,000 25,993,498 Grants in Aid 1,956,688 83,800 55,075 34,759 5,000-2,135,322 Debt Service 2,901,289-222,357-3,417,250 4,647,401 11,188,297 Sub-total 73,181,606 19,706,280 11,811,968 14,687,799 29,141,097 6,641,401 155,170,151 Budgeted Reserves 12,169,755 11,399,799 1,483,929 5,588,358 37,405,479 7,441,296 75,488,616 Interfund Transfers 4,694,005 4,001,087 337,936 337,936 9,96,083 999,157 20,324,555 TOTAL $ 90,045,366 $ 35,107,166 $ 13,633,833 $ 20,652,444 $ 76,462,659 $ 15,081,854 $250,983,322 49
Summary of Total Budget by Category FY 13/14 FY 14/15 FY 15/16 % Actual Adopted Adopted Change Budget Budget REVENUES Ad Valorem Taxes $ 68,668,179 $ 69,971,584 $ 68,325,166-2.35% Other Taxes 11,852,560 8,130,000 8,288,800 1.95% Licenses and Permits 9,495,823 8,884,072 8,361,338-5.88% Intergovernmental Revenue 20,369,112 12,813,199 13,338,619 4.10% Charges for Services 38,254,538 34,971,799 33,152,468-5.20% Fines and Forfeitures 218,193 180,360 223,776 24.07% Miscellaneous Revenues 3,917,725 3,003,429 3,608,629 20.15% Other Non Opera ng Revenue 5,355,426 388,200 688,583 77.38% Loan Proceeds 3,334,000 - - 100.00% Statutory Reserves - (6,489,312) (6,358,104) -2.02% Sub-total 161,465,556 131,853,331 129,629,275-1.69% Cash Carry Forward - 99,467,553 106,491,405 7.06% Interfund Transfers 13,403,701 12,090,427 14,862,642 22.93% TOTAL $ 174,869,257 $ 243,411,311 $ 250,983,322 3.11% EXPENDITURES Personnel Services $ 56,789,453 $ 62,034,190 $ 63,413,863 2.22% Opera ng Expenses 53,956,939 57,297,980 52,439,171-8.48% Capital Outlay 11,844,175 31,213,172 25,993,498-16.72% Grants in Aid 1,702,959 1,814,076 2,135,322 17.71% Debt Service 8,947,753 10,635,547 11,188,297 5.20% Sub-total 133,241,279 162,994,965 155,170,151-4.80% Budgeted Reserves - 65,606,721 75,488,616 15.06% Interfund Transfers 14,043,672 14,809,625 20,324,555 37.24% TOTAL $ 147,284,951 $ 243,411,311 $ 250,983,322 3.11% 50
Total Budget Discre onary Discre onal Funding $36,590,451 15% Non-Discre onal Funding $214,392,871 85% General Fund Discre onary Discre onal Funding $26,451,922 29% 51 Non-Discre onal Funding $63,593,444 71%
Total Budget Categories $250,983,322 Cash Carry Forward by Fund Type $106,491,405 52
Expenditures by Fund Group Percent of Enterprise Expenditures Enterprise Funds U li es 50,309,531 Solid Waste 22,080,519 Building Dept. 4,072,609 Sub-total 76,462,659 General Fund 90,045,366 Transporta on Funds 35,107,166 Fire Protec on 9,824,720 Library Taxing District 3,809,113 Special Revenue Funds 20,652,444 Non-Major Funds 15,081,854 TOTAL 250,983,322 The above graph illustrates all county expenditures by fund group. The Enterprise Funds that are funded from charges for services include U li es, Solid Waste, Building, and the debt-service and capital projects for the Enterprise Funds. The General Fund is used to account for resources that are not required to be accounted for in other funds. Transporta on Funds consists of Road Maintenance, Public Works Administra on, Engineering, Residen al/major Road, and respec ve Reserves and Transfers. Fire Taxing District consists of funds directly related to Fire Rescue. Library Taxing District are for the Citrus County Libraries. Special Revenue Funds consist of mul ple funds such as the Health Department and Internal Services. Non-Major Funds include Debt Service Funds, Special Assessments, and Impact Fees. 53
Summary of Total Budget by Major Funds FY 13/14 FY 14/15 FY 15/16 % Actual Adopted Adopted Change Budget Budget REVENUES General Fund $ 85,958,741 $ 88,694,496 $ 90,045,366 1.52% Transporta on Fund 7,669,498 23,020,669 24,735,824 7.45% Public U li es 21,636,222 49,422,127 50,309,531 1.80% Landfill 6,724,008 22,223,145 22,080,519-0.64% Non-Major Funds 52,880,790 60,050,874 63,812,082 6.26% TOTAL $ 174,869,259 $ 243,411,311 $ 250,983,322 3.11% EXPENDITURES General Fund $ 76,003,963 $ 88,694,496 $ 90,045,366 1.52% Transporta on Fund 5,156,499 23,020,669 24,735,824 7.45% Public U li es 18,153,582 49,422,127 50,309,531 1.80% Landfill 5,606,738 22,223,145 22,080,519-0.64% Non-Major Funds 42,364,167 60,050,874 63,812,082 6.26% TOTAL $ 147,284,949 $ 243,411,311 $ 250,983,322 3.11% 54
FY 2015/2016 Revenue & Expenditure Summary Where the $250.9M comes from... Where does the $250.9M go... 55
Elected Officials $38,475,369 Reserves by Fund Func onally $75,488,616 56
General Fund Revenues $90,045,366 General Fund Expenditures $90,045,366 Notes: The chart above represents only the Citrus County General Fund. The categories above are from the State of Florida, Uniform Accoun ng System. 57
General Fund Budget State Mandate Summary Statutory Requirements: Florida Statute: County Audit 219.39 153,000 Predisposi on of Juveniles 985.686 288,839 Inmate Medical - outside 901.35, 951.032 200,000 Forensic Physical Examina on 39.304 60,000 Unemployment Compensa on - BOCC 443.1313 20,000 County Planning Councils 373.1962 47,055 Division of Forestry 125.27 16,064 Tax Bill Postage/Tax Deeds 195.087, 192.091 107,000 Tax Increments to City CRAs 163.340, 163.355, 163.356, 163.357 802,250 GROWTH MANAGEMENT Land Development/Comprehensive Planning/ Concurrency Management 44CFR.1,59-65; 120.525, 125.66, 163, 177 part I, 163.3202, 380.06, 380.0551, 163 part II, 163.3174, 163.3180, 163.3220 835,429 HUMAN SERVICES Medicaid 409.915 2,176,982 General Assistance: Burials & Crema ons 406.50 25,000 PUBLIC SAFETY Deten on Support 948.06 11,457,861 Medical Examiner 406.08 366,506 Mental Health 394.76 & FL Admin Code 65,65E-14.005 486,261 Baker Act Transports 25,000 Electronic Inmate Monitoring 948.11 60,000 Emergency Medical Services (EMS) 125.01 308,074 SUPPORT SERVICES General Insurance/Other Risk Programs 768.28, 112.19, 440.15 725,000 FDLE 943.13 4,800 CONSTITUTIONAL OFFICERS Court Administra on 29.001, 29.008, 939.185, 318.18, 29.0081 16,000 Public Defender 29.001, 29.008, 318.18, 29.0081 1,675 State A orney 29.001, 29.008, 318.18, 29.0081 7,410 Clerk of County Courts 29.001, 29.008, 318.18, 29.0081 8,500 Guardian Ad Litem 29.008 33,692 Judicial Services Technology 29.008, 28.24 256,191 Property Appraiser 195.087, 192.091 3,182,901 Tax Collector 195.087, 192.091 2,494,199 Supervisor of Elec ons 98.015, 129.202, 101.62, 102.014, 101.51, 1,630,412 101.111, 98.255, 101.657 Sheriff - Service of Court Process 30.51 2,364,443 Total Statutory Requirements 28,160,544 General Fund Expenditures 90,045,366 Percentage of Statutory Requirements 31.27% 58
Posi ons by Fund Type Posi ons per 10,000 Residents FY 08/09 FY 14/15 59
Summary of Adopted Posi ons Budget Budget Budget Change from Fund 2013/2014 2014/2015 2015/2016 Current Year Board of County Commissioners General Fund Aqua c Services 8 8 8 Board of County Commissioners 5 5 6 1 Code Compliance 11 9 8 (1) Community Centers 6 6 6 Community Service Administra on 3 5 10 5 County Administrator 8 9 5 (4) County A orney 4 3 4 1 Extension Center 6 6 6 Facili es Management 39 40 38 (2) Geographic Informa on Systems 9 8 7 (1) Grounds Maintenance 23 23 23 Housing Services 3 3 3 Human Resources 8 8 7 (1) Land Development 10 13 13 Management & Budget 8 8 8 Parks and Recrea on 15 15 17 2 Planning & Development 2 2 2 Support Services Administra on 8 7 2 (5) Systems Management 10 10 10 Veterans Services 4 4 4 Total General Fund 190 192 187 (5) Road and Bridge Road Maintenance 76 76 76 Public Works Administra on 4 4 4 Engineering 17 18 18 Total Road and Bridge 97 98 98 Special Assessments Citrus Springs MSBU 2 2 2 Library Services Library Services 52 52 52 Adopted posi ons include all regular ongoing posi ons based on headcount. The Full Time Equivalency (FTE) count would be lower since part- me employees are calculated based on the number of hours budgeted in the fiscal year. 60
Summary of Adopted Posi ons con t. Fund 2013/2014 2014/2015 2015/2016 Current Year Special Revenue Funds Animal Services 14 15 16 1 Central Ridge Community Center 2 2 (2) Drug Court 2 2 1 (1) Teen Court 1 1 1 Ar cle V State A orney 2 2 2 Ar cle V Public Defender 1 1 1 Ar cle V Circuit Court 2 2 2 Ar cle V Innova ve Program 2 2 2 Parks Special Programs 1 1 (1) Visitor & Conven on Bureau 5 4 4 U lity Regulatory 2 2 1 (1) Total Special Revenue Funds 34 34 30 (4) Internal Service Funds Fleet Management 13 12 12 Enterprise Funds Solid Waste Management 22 20 19 (1) Li er Program 2 6 5 (1) Recycling 1 1 1 Hazardous Waste 3 3 3 U li es System 77 79 81 2 Building 22 26 29 3 Total Enterprise Funds 127 135 138 3 Total Board Posi ons 515 525 519 (6) Fire Protec on Fire Rescue 75 80 82 2 Cons tu onal Offices Clerk to the Board 23 25 28 3 Elec ons 10 10 10 Property Appraiser 53 51 50 (1) Sheriff - General Opera ng 276 285 282 (3) Sheriff - Court Services 32 30 29 (1) Sheriff - City of Crystal River 17 16 16 Sheriff - City of Inverness 12 9 9 Tax Collector 63 65 65 Total Cons tu onal Offices 486 491 489 (2) Total Posi ons 1076 1096 1090 (6) 61
Revenues Many revenue es mates are provided by the Office of Economic and Demographic Research (EDR). The EDR is a research arm of the Legislature principally concerned with forecas ng economic and social trends that affect policy making, revenues, and appropria ons. EDR provides objec ve informa on to commi ee staffs, and members of the legislature in support of the policy making process. EDR publishes all of the official economic, demographics, revenue and agency workload forecasts that are developed by Consensus Es ma ng Conferences and makes them available to the Legislature, state agencies, universi es, research organiza ons, and the general public. EDR, through a contract with the University of Florida, arranges for annual es mates of popula on of each city and county in Florida, which provide the basis for revenue sharing programs. In determining revenue budget es mates, collec on trends, economic condi ons and other relevant factors are analyzed to determine the reasonableness of EDR s projec- ons for Citrus County. The following are descrip ons, historical trends, and projected revenues for 2016 from the County s major revenue sources. The revenue sources profiled in this sec on comprise 97.3% of the total revenue budget for fiscal year 2016. Ad Valorem Tax Ad valorem taxes are levied on the taxable value of real and tangible personal property located within the County. Intangible property and motor vehicles are excluded from this tax. The tax is limited to a 10 mill cap, except for voted debt service millage and voted millage not to exceed two years. In addi on to the 10 mill cap, state law regulates the process and amount of millage levied each year. The Truth in Millage Act (TRIM) regulates the process for se ng the annual millage and for determining the roll-back rate or the rate of millage required to yield the same dollar amount of revenue received in the prior year. Effec ve January 1, 1994, the Florida Cons tu on, Save Our Homes, was amended to limit the annual increase in the assessed value of property mee ng the requirements for homestead exemp on. This annual increase is limited to the lower of 3% or the percent change in the Consumer Price Index (for all urban consumers in the preceding calendar year, as reported by the United States Department of Labor, Bureau of Labor Sta s cs). 62
On January 29, 2008, an amendment was enacted which provides for the transfer of the assessment limita on on homesteaded proper es, adds $25,000 of homestead exemp on for values between $50,000 and $75,000, exempts $25,000 of taxable value for Tangible Personal Property return filers and limits the assessment increase to 10% annually on non- homesteaded property. Therefore, residents of Florida are en tled to a $50,000 homestead exemp on for property considered to be the permanent home. This homestead exemp on provides a tax-saving exemp on on the first and third $25,000 of the taxable value of an owner/ occupied residence. Addi onal, smaller exemp ons are also available for widows/ widowers, disabled veterans, and those with other qualifying disabili es. Use of Revenue Ad valorem taxes are considered general revenue funds and may be used for any County purpose. Revenues of Municipal Services Taxing Units (MSTU) are restricted to the specific purpose for which the MSTU was created. The County has three special taxing districts: Fire Protec on, Library Services and Stormwater. Collec on Frequency Payment is made directly to the Tax Collector either by the property owner or through the owner s mortgage company. State law requires the Tax Collector to make a minimum of 14 distribu ons per year two in November, two in December, and one per month for the remainder of the fiscal year. Payments are made annually from November to March each year. A discount of 4% is granted for payments made in November, therea er, the discount rate is reduced by 1% each month. Payments made a er March are subject to penalty. Taxes not collected are converted to cash via tax cer ficates sold by the Tax Collector, essen ally elimina ng non-collec ble ad valorem taxes. Budget Assump on(s) Each June 1, the Property Appraiser is required by statute to provide an es mate to each taxing jurisdic on of the es mated taxable valua on of all personal and real property within the jurisdic on. A final es mate is provided on July 1. Using this es mate, the County applies its proposed millage rate to yield the es mated revenue for the coming year. By state statute, the County can only budget 95% of this es mate. The County s por on of an average tax bill for a residen al home with homestead exemp on is $434.42 based on the millage rate of 8.4655 for fiscal year 2016. The fiscal year 2016 es mated ad valorem revenue of $68,325,166 comprises 27.2% of the total revenue budget. 63
Other Taxes Communication Services Tax This tax was created by the Communica ons Services Tax Simplifica on Law as a way to simplify the taxes levied on telecommunica ons, cable, direct-to-home satellite, and related services. At its October 1, 2001 incep on, it replaced seven different state and local taxes. It is computed using a single levy with a common rate and base. The State of Florida, Department of Revenue administers both the state and local por ons of the tax. The state communica ons services tax consists of 6.65% and a gross receipts tax of 2.52% for communica on services, 10.8% for direct-to-home services and a gross receipts tax of 2.37%. This tax of 9.17% is levied on all communica ons services, except certain residen al service, and 13.17% on all direct-to-home satellite services. The local communica ons services tax is 2.24%. The tax is subs tuted for the cable franchise fee previously collected by the County. Use of Revenue The proceeds may be used for any County purpose. They may also be pledged to repay indebtedness. The County has used this revenue source as security for the Emergency Opera ons Center and Floral City Library indebtedness. Collec on Frequency Communica ons services providers remit the tax to the Department of Revenue. The Department of Revenue wires the proceeds to the County on a monthly basis but they are usually 45 to 60 days in arrears. Budget Assump on(s) The budget is based upon revenues collected in prior years and the es mates provided by the State of Florida, Office of Economic and Demographic Research (EDR). The fiscal year 2016 es mate of $1,700,000 represents.7% of the total revenue budget. 64
Constitutional Fuel Tax The Cons tu onal Fuel Tax was authorized by the Florida Cons tu on in 1941 and approved by the voters in 1943. It is levied at the rate of 2 per gallon on motor fuel. Proceeds are allocated to the County in accordance with a distribu on formula consis ng of county area, county popula on, and the number of gallons of motor fuel sold in the county. The Department of Revenue transfers the tax to the State Board of Administra on for distribu on to the County. Funds are first used for any road and bridge related debt service payments. Of the remaining amount, 20% is returned to the County. The rest of the proceeds are forwarded to the State of Florida, Department of Transporta on. Use of Revenue Proceeds must be used for the acquisi on, construc on, and maintenance of roads. Maintenance may include construc on and installa on of traffic signals, sidewalks, bicycle paths, and landscaping. They may also be used as matching funds for transporta- on-related grants. Collec on Frequency Fuel dealers remit the tax to the State of Florida, Department of Revenue. The Department of Revenue wires the proceeds to the County on a monthly basis but they are usually 45 to 60 days in arrears. Budget Assump on(s) The county s distribu on formula is applied to a statewide es mate of total fuel tax collec ons, net of administra ve deduc ons, to calculate the budget es mate. The budget is based upon revenues collected in prior years and the es mates provided by the State of Florida, Office of Economic and Demographic Research (EDR). The fiscal year 2016 es mate is $1,490,000 or.6% of the total revenue budget. 65
County Fuel Tax The County Fuel Tax is levied at the rate of 1 per gallon on motor fuel. The legisla ve intent of this tax is to reduce the County s reliance on ad valorem taxes. Proceeds are allocated to the County in accordance with a distribu on formula factoring county area, county popula on, and the number of gallons of motor fuel sold in the county. The State of Florida, Department of Revenue administers this tax. The county s distribu on formula is applied to a statewide es mate of total county fuel tax collec ons, net of the deduc ons for the general revenue service charge, administra ve costs, motor fuel refunds and dealer collec on allowances, to calculate the revenue es mate. Use of Revenue Proceeds must be used for transporta on related expenditures. The expenditures must be for acquisi on of rights-of-way; construc on, reconstruc on, maintenance and repair of transporta on facili es, roads, bridges, bicycle paths and pedestrian pathways. Proceeds may also be used for debt service of transporta on related projects. The County has not pledged any proceeds from this tax as security for debt obliga ons. Collec on Frequency Fuel dealers remit the tax to the State of Florida, Department of Revenue. The Department of Revenue wires the proceeds to the County on a monthly basis but they are usually 45 to 60 days in arrears. Budget Assump on(s) The budget is based upon revenues collected in prior years and the es mates provided by the State of Florida, Office of Economic and Demographic Research (EDR). The fiscal year 2016 es mate is $640,000 or.3% of the total revenue budget. 66
Local Option Fuel Tax The Local Op on Fuel Tax may be levied at the rate of 1 to 6 per gallon on motor fuel. Citrus County levies the en re 6 per gallon on motor fuel. The tax is levied at the rate of 6 per gallon on diesel fuel, whether or not a county has levied any of the tax on motor fuel. Proceeds are distributed to the County in accordance with an interlocal agreement established between the County and municipali es located within the County s border. Any changes in the tax rate must be made prior to July 1 to be effec- ve January 1 of the following year. The State of Florida, Department of Revenue administers this tax. The Board of County Commissioners receives 90.95% of the distribu on allocated to the County. The ci es of Inverness and Crystal River share in the remaining 9.05%. Use of Revenue Proceeds must be used for transporta on expenditures. The expenditures must be for public transporta on opera on and maintenance; roadway and right of way maintenance and drainage; street ligh ng; traffic signs, signals, and pavement markings; and bridge maintenance and opera ons. Proceeds may also be used for debt service of transporta on related projects. Collec on Frequency Fuel dealers remit the tax to the State of Florida, Department of Revenue. The Department of Revenue wires the proceeds to the County on a monthly basis but they are usually 45 to 60 days in arrears. Budget Assump on(s) The revenue es mate is calculated factoring in the es mated number of gallons of motor and diesel fuel sold, countywide tax rates, and distribu on percentages. The budget is based upon revenues collected in prior years and the es mates provided by the State of Florida, Office of Economic and Demographic Research (EDR). The fiscal year 67
2016 es mate is $2,896,800 or 1.15% of the total revenue budget. Second Local Option Fuel Tax The 2 nd Local Op on Fuel Tax may be levied at the rate of 1 to 5 per gallon on motor fuel. Citrus County began levying the en re 5 per gallon on January 1, 2006 and sunsets the levy on December 31, 2034. Proceeds are distributed to the County in accordance with an interlocal agreement established between the County and municipali es located within the County s border. Any changes in the tax rate must be made prior to July 1 to be effec ve January 1 of the following year. The State of Florida, Department of Revenue administers this tax. The Board of County Commissioners receives 90.95% of the distribu on allocated to the county. The ci es of Inverness and Crystal River share in the remaining 9.05%. Use of Revenue Proceeds must be used for transporta on expenditures needed to meet the requirements of the capital improvement element (CIE) of the adopted comprehensive plan or to meet transporta on problems that are cri cal for building comprehensive roadway infrastructure. The expenditures include construc on of new roads, resurfacing exis ng paved roads, and paving exis ng graded roads to mi gate adverse environmental impacts. Rou ne maintenance of roads is not considered an authorized expenditure. Proceeds may also be used for debt service of transporta on related projects. The County has pledged the 2 nd Local Op on Gas Tax as security for the financing on the County Road 486 improvement project from State Road 44 to Forest Ridge Boulevard. Budget Assump on(s) The revenue es mate is calculated using the es mated number of gallons of motor fuel sold, countywide tax rates, and distribu on percentages. The budget is based upon 68
revenues collected in prior years and the es mates provided by the State of Florida, Office of Economic and Demographic Research (EDR). The fiscal year 2016 es mate is $2,149,500 or.9% of the total revenue budget. Ninth Cent Fuel Tax The Ninth Cent Fuel Tax may be levied at the rate of 1 per gallon on motor fuel. Citrus County began levying this 1 per gallon tax on January 1, 2006 and sunsets the levy on December 31, 2034. The 1 per gallon tax on diesel fuel is levied in every county, whether or not the county levies the tax on motor fuel. Coun es may, but are not required to, share the proceeds of this tax with municipali es located within its borders. Citrus County has not elected to share these proceeds. The tax must be authorized by an ordinance adopted by an extraordinary vote of the governing body or voter approval in a countywide referendum. It must be levied before July 1 to be effec ve January 1 of the following year. The State of Florida, Department of Revenue administers this tax. Use of Revenue Proceeds must be used for transporta on expenditures. The expenditures must be for public transporta on opera on and maintenance; roadway and right of way maintenance and drainage; street ligh ng; traffic signs, signals, and pavement markings; and bridge maintenance and opera on. Proceeds may also be used for debt service of transporta on related projects. Collec on Frequency Fuel dealers remit the tax to the State of Florida, Department of Revenue. The Department of Revenue wires the proceeds to the County on a monthly basis but they are usually 45 to 60 days in arrears. Budget Assump on(s) The revenue es mate is calculated using the es mated number of gallons of motor and 69
diesel fuel sold and countywide tax rates. The budget is based upon revenues collected in prior years and the es mates provided by the State of Florida, Office of Economic and Demographic Research (EDR). The fiscal year 2016 es mate is $550,000 or.2% of the total revenue budget. Tourist Development Tax The Tourist Development Tax is levied at the rate of three (3) percent on the total rental charged for accommoda ons at any hotel, apartment hotel, motel, resort motel, apartment, apartment motel, rooming house, tourist or trailer camp, or condominium that has a rental period of six (6) months or less. This tax is levied in addi on to sales tax and any other applicable taxes, unless the rental is exempt under the provisions of Florida Statutes 212. Use of Revenue Proceeds must be used to fund the County Tourist Development Plan as approved by the Board of County Commissioners. They may also be pledged to repay indebtedness. Any proceeds from bonds issued must be used for purposes authorized by the County Tourist Development Plan. Collec on Frequency The Department of Revenue wires the proceeds to the County on a monthly basis but they are usually 45 to 60 days in arrears. Budget Assump on(s) The budget es mate is based upon revenues collected in prior years and the economic condi ons. The fiscal year 2016 es mate is $732,500 or.3% of the total revenue budget. 70
Intergovernmental Revenue County Revenue Sharing The County Revenue Sharing program was created by the Florida Revenue Sharing Act of 1972. The purpose of the program is to ensure a degree of revenue parity between local governments. A formula derived from county popula on, unincorporated county popula on, and county sales tax collec ons is used to compute the amount distributed to the County. This amount consists of three parts: the first guaranteed en tlement, the second guaranteed en tlement, and growth money. The County will not receive less than the first and second guaranteed en tlements. The State of Florida, Department of Revenue administers this program. County revenue sharing proceeds consist of 2.9% of the cigare e tax collec ons and 2.044% of the sales and use tax collec ons by the state. The cigare e tax collec ons equal 1.7% of the county revenue sharing proceeds and the sales and use tax collec- ons complete the remaining 98.3% of the proceeds. Use of Revenue There are no restric ons on the use of the funds. However, the County may only bond the first and second guaranteed en tlements. The County has used this revenue source as security for the Courthouse Annex indebtedness. Collec on Frequency The Department of Revenue wires the proceeds to the County on a monthly basis but they are usually 45 to 60 days in arrears. Budget Assump on(s) The distribu on is calculated so that the county does not receive less than the first guaranteed en tlement of $90,480 plus the second guaranteed en tlement of $499,080. Any remaining funds are distributed to qualified coun es on a pro rata basis (growth funds). The budget is based upon revenues collected in prior years and the es mates provided by the State of Florida, Office of Economic and Demographic Re- 71
search (EDR). The amount of growth funds the county is es mated to receive for fiscal year 2016 is $2,610,440. The es mated distribu on may not necessarily represent the actual disbursements received by the County since economic condi ons are subject to change during the fiscal year. The fiscal year 2016 es mate is $3,200,000 or 1.3% of the total revenue budget. Half-Cent Sales Tax The Half-Cent Sales Tax program was created in 1982 and is the largest state-shared revenue source of the County. The purpose of the program is to provide revenue for local needs and provide relief from ad valorem taxes. The amount received is based on an alloca on formula factoring total county popula on, total unincorporated county popula on, and total incorporated county popula on. The State of Florida, Department of Revenue administers this program. Half-cent sales tax proceeds consist of 8.814% of the net sales tax revenue collected by the state pursuant to Chapter 212, Florida Statutes. Use of Revenue Two-thirds of the amount received must be expended on countywide programs or to provide countywide tax relief. Proceeds may be pledged for principal and interest payments on any capital project. The County has used this revenue source as security for the 2001A Capital Improvement Bonds, 2001B Capital Improvement Refunding Bonds, 2003 Capital Improvement Refunding Bonds, Countywide Radio System Loan, and the 2004A, 2004B Capital Improvement Bonds, 2008 Capital Improvement Refunding Bonds, and 2014A, B & C Capital Improvement Bonds. Collec on Frequency The Department of Revenue wires the proceeds to the County on a monthly basis but they are usually 45 to 60 days in arrears. 72
Budget Assump on(s) The county s alloca on factor is applied to the amount of sales tax funds es mated to be distributed to the county to calculate the revenue es mate. The budget is based upon revenues collected in prior years and es mates provided by the State of Florida, Office of Economic and Demographic Research (EDR). The fiscal year 2016 es mate is $7,100,000 or 2.8% of the total revenue budget. Charges for Services Solid Waste Management The county has the responsibility to provide for the opera on of solid waste disposal facili es to meet the needs of all incorporated and unincorporated areas of the county. Each county shall implement a recyclable materials recycling program that shall have a goal of recycling recyclable solid waste by 75% by December 31, 2020. Solid Waste Management is funded by user fees charged at the landfill, an assessment on each residen al unit in the County in the amount of $20 per year, and a fee charged to businesses with waste disposal service at $1.00 per cubic yard. Use of Revenue Revenues are received into the Solid Waste Fund and used for opera ng, maintenance, debt service and closure/long-term care expenses of the system. Collec on Frequency On-site collec ons are deposited into the bank daily. The cer fied haulers are billed monthly for debris disposed at the landfill from the prior month. The residen al assessment is included on the property tax bill and receipted by the Tax Collector, which remits the payments on a monthly basis. The commercial assessment is billed on a quarterly basis payable prior to the onset of the quarter. 73
Budget Assump on(s) Budget es mates for user fees and the commercial assessment are prepared based on revenues collected in prior years and year-to-date revenue in the current year with a factor applied to account for an increase due to growth. The budget es mate for the residen al assessment is calculated by mul plying the annual assessment per residen- al unit by the number of households in the county as determined by the Property Appraiser. The fiscal year 2016 es mate is $4,609,515 or 1.8% of the total revenue budget, comprised of a hazardous materials fee es mate of $45,000, user fee es mate of $2,504,515, residen al assessment es mate of $1,420,000 and commercial assessment es mate of $400,000. Water Resources Water Resources is an enterprise fund in which revenue for opera ons is provided by user fees. It operates under strict State and Federal mandates. Water & Wastewater User Fees Descrip on Provides safe and reliable water supply including fire protec on and ensures wastewater disposal in accordance with all regula ons and standard for all customers. Water & Sewer Connec on Fees Descrip on Connec on fees are implemented to finance water and wastewater facili es required due to new construc on. They are charged to customers wishing to connect to the Citrus County u lity system. Customers planning construc on that will connect to the U lity System must reserve capacity by paying connec on fees. 74
Use of Revenue Revenues are received into the Water/Wastewater Fund and are used for opera ng, maintenance and debt service expenses of the U lity. Collec on Frequency Monthly minimum water charges include a fixed rate to cover water availability and water meter opera on. The established rates are designed to cover opera ng and debt service expenses. Budget Assump on(s) The budget is based on revenues collected in prior years, water and wastewater sales are expected to increase due to an increase in the customer base, and es mates provided by rate consultant. Water and wastewater sales are expected to increase in 2016 due to an increase in the customer base. In fiscal year 2007, the County acquired the Florida Governmental U lity Authority (FGUA) owned water and wastewater systems opera ng in Citrus County. The fiscal year 2016 es mate is $15,322,700 or 6.1% of the total revenue budget, which is comprised of water sales in the amount of $7,734,407, wastewater sales in the amount of $7,203,293, water connec on fees in the amount of $210,000 and wastewater connec on fees in the amount of $175,000. Other Sources Impact Fees (currently suspended) Impact fees are an assessment made against all new impact-genera ng land development that contributes to the burden of public facili es and services. They are a one- me fee designed to aid in paying for growth and are collected for the following eight categories: emergency medical services, fire, law enforcement, libraries, parks and recrea on, public buildings, schools and transporta on. The County began collec ng impact fees in 1987. 75
Citrus County uses impact fees to supplement other types of fees and taxes to fund capital construc on projects necessitated by growth. Impact fees cons tute a significant funding source and enable the County to provide facili es and services, some of which are mandated by the County s comprehensive plan. The County has ten years in which to spend the funds from the date they were collected. Transporta on impact fees are collected in four (4) benefit districts that are defined by geographical boundaries. The boundaries of the City of Crystal River also define a district. The City of Inverness has opted out of the County s transporta on impact fee. Park impact fees are collected in four (4) benefit districts that are defined by geographical boundaries. School, library, public building and public safety (emergency medical services, fire and law enforcement) benefit districts include the en re county, as well as the ci es of Inverness and Crystal River. Use of Revenue Proceeds collected from transporta on impact fees are to be expended for capital road facili es within the district in which they were collected, unless certain criteria are met that would allow use of the funds within another benefit district. Proceeds collected from park impact fees are to be expended for park capital facili es within the district in which they were collected. Proceeds collected from school impact fees are to be expended for capital school facili es in the county. Proceeds collected from library impact fees are to be expended for capital library facili es within the county. Proceeds collected from public building impact fees are to be expended for capital public facili- es within the county. Proceeds collected from public safety (emergency medical services, fire and law enforcement) impact fees are to be expended for capital public safety facili es within the county. The fee structure must be reasonably related to the actual costs of the projected improvements. Also, the amount of impact fees varies according to the type of development. The fee breakdown for a typical residen al unit is provided in the following chart. Single Family Home Impact Fees Effective July 29, 2015 Category EMS $ 41 Fire 350 Law Enforcement 267 Libraries 268 Parks and Recreation 675 Public Buildings 250 Schools 1,261 Transportation 1,697 Total $4,809 76
Collec on Frequency Fees are assessed and collected at the issuance of building permits by the Building Division. Receipts are submi ed daily to the Clerk s Office by the Board of County Commissioners. Budget Assump on(s) This budget is based on revenues collected in prior years and current year-to-date revenue, along with current and projected building permit ac vity. In February 2015, the Board of County Commissioners adopted a two year suspension of impact fee collec- on in an endeavor to boost the local economy, to be reviewed annually. Interfund Transfers Cash Carry Forward Interfund transfers o en arise due to the specific requirements of governmental fund accoun ng. Frequently, it is necessary to transfer monies between funds for various uses. Interfund transfers are self-balancing and represent revenue to one fund and expense to the other fund. Interfund transfers ar ficially increase the County budget, but are required under fund accoun ng principles. An example of an interfund transfer is the cost of Leachate personnel and related opera onal expenses. These expenses are budgeted in the Solid Waste/Long Term Care department for the leachate management but housed in the Water Resource/U li es Division. The fiscal year 2016 es mate for all interfund transfers is $14,862,642 or 5.9% of the total revenue budget. Cash Carry Forward or Fund Balances is defined as the funds carried over from one fiscal year to the next. Fund balances total $106,491,405 or 42.4% of the fiscal year 2016 County revenue budget. Fund Balances carried over from the previous year occur for different reasons: County departments may not spend every dollar that was approved in their budgets; The County may collect more revenue than an cipated in the budget; or Florida Statute 129.01(2)(b) specifies that, except for Enterprise and Internal Service Funds (as well as transfers, fund balances brought forward, and grants), fund revenues will be budgeted at 95% of an cipated revenues. This statutory restric on or revenue offset effec vely provides a percentage of expected budgeted revenue that cannot be appropriated in the current budget year. The 5% requirement therefore helps establish a basic level of fund balance for the next fiscal year. 77
Expenditures Personnel Services Salaries and Wages Personnel Services are comprised of Salaries/Wages and Fringe Benefits and represent approximately 25.3% or $63.4 million of all expenditures in the County budget, of that, the Cons tu onal Officers equal approximately 51.1% or $32.4 million. For comparison purposes, the following excludes Cons tu onal Offices. Salaries and Wages are comprised of the base wage an employee receives for services performed and other forms of compensa on such as over me and payments made to employees for various accumulated me when separa ng from service. Salaries represent approximately 8.3% of all expenditures in the budget. The 2016 budget is $17.7 million, which is $64,700 increase from the 2015 budget. The County has reduced the workforce through layoffs, voluntary early re rement incen ves, and a ri on. The 2016 budget includes a 1% across the board cost of living and 0-5% increase. Fringe Benefits Fringe Benefits expenditures are comprised of health and disability insurance, contribu- ons for the County s por on of FICA payroll taxes, re rement contribu ons and workers compensa on. Fringe benefits represent approximately 3.3% of all expenditures in the budget. The 2016 fringe benefits budget is $7.1 million or an increase of 34.9% from 2006, primarily due to on-going increases in the health insurance premiums. Health Insurance In 2009, the County adopted a self-funded health insurance plan a er several years of loss ra os of 70% or less and consistent claims history. Recent health insurance claims trend is a loss ra o of 100% or greater which has resulted in a premium of $546.90. in 2013, the County implemented an Employee Health Clinic in an endeavor to reduce health costs. These costs comprise the largest por on or 49.8% of the Fringe Benefits category. The 2016 budget is $3.5 million, which is a slight decrease from Fiscal Year 2015. 78
Retirement Contributions The re rement contribu ons were reduced in July 2011 due to legisla on requiring all Florida Re rement System (FRS) members to contribute 3% on a pre-tax basis. The 2013 legisla on increased the re rement rates to include funding for the unfunded actuarial liability. The 2016 budget for FRS contribu ons is $1.5 million, which is a $35,000 increase from the 2015 budget. Workers Compensation Operating Expenditures Medicaid Florida Law requires the County to provide workers compensa on coverage for all County employees and volunteers. The County has elected to provide workers compensa on protec on by means of a self-insured program. The 2016 budget is $635,000, which is $110,000 less than the 2015 budget. A new procedure has been established where each department will be directly charged for their claims. Title XIX of the Social Security Act is a Federal and State en tlement program that pays for medical assistance for certain individuals and families with low incomes. This program, known as Medicaid, became law in 1965 as a coopera ve venture jointly funded by Federal and State governments to assist states in furnishing medical assistance to eligible individuals. Eligibility for Medicaid is administered through the Department of Children and Families Services (DCF). The State pays medical providers for services rendered on behalf of pa ents and bills the County its share. The County shares the cost of nursing home care and hospitaliza on. Nursing home care is capped at $55 per month, per person, and hospitaliza on is capped at 33 days per year, per person. The County is also responsible through Health Care Responsibility Act (HCRA) for out-of-county hospitaliza on. 79
The 2016 Budget for Medicaid is $2.2 million. In 2008, the State transi oned to a new system and collec ons dropped from the historical of 90% to 65%. House Bill 5301 established a process by which each county s share of prior and future Medicaid hospital costs are collected. The financial impact of the retrospec ve claims to Citrus County is $844,464 deducted from state revenue sharing monthly distribu on over three (3) years. Inmate Services Inmate Services describe the expenditures for medical services, electronic monitoring and the deten on center services contract. Correc ons Corpora on of America (CCA) provides jail services at the deten on facility. In Fiscal Year 2015, $12.8 million was expended at a rate of $70.74 per inmate, per day. While the rate has increased $8.90 from Fiscal Year 2009, the inmate popula on has decreased from an average daily count of 420 to 360. The Fiscal Year 2016 budget was developed an cipa ng an average inmate daily count of 360 at a rate of $70.74. Historically, the expenditures related to the non-county inmates houses at the deten on facility have been reflected in the expenditure budget. Beginning in 2016, due to contract modifica on, the US Virgin Island inmates will be funded by CCA and the County will receive an administra ve fee from CCA. In 1983, Florida passed a law obliga ng the County to cover hospital bills for inmates who are arrested for viola ons of state law or county ordinances and who lack health insurance or other means of covering their medical costs. The obliga on included medical bills for injuries sustained during arrests and treatment for pre-exis ng diseases and illnesses. Inmate medical can vary greatly from year to year. Fiscal Year 2009 expenditures were $123,688 while Fiscal Year 2013 totaled $537,331. The Fiscal Year 2016 budget includes $200,000 for inmate medical. In 2012, the Florida Senate passed a bill limi ng the County responsibility to 10% above the allowable Medicare rate. Currently, 80
the County a empts to nego ate the Medicaid rates enabling an addi onal savings. Utility Services U lity Services generally describes expenditures for delivery and supply of electricity, natural gas, hea ng fuel, water, and waste disposal. U lity services costs have almost doubled since Fiscal Year 2005 from $1.6 to $3.1 million in Fiscal Year 2015. The Fiscal Year 2016 budget includes an increase of 7.1% or $3.3 million. 81
Fuel and Lubes Fuel and Lubes describes expenditures for gasoline, diesel, and lubricants needed to operate the motorized fleet. The trend shows a steady increase even though the County began reducing its motorized fleet in 2010. In Fiscal Year 2005 $700,000 was expended, while Fiscal Year 2015 expended $1.1 million, an increase of $400,000. The Fiscal Year 2016 budget includes $1.4 million or an increase of 22%. Capital Outlay Buildings Machinery and Equipment Buildings describes expenditures for office buildings, firehouses, garages, jails, parks and recrea onal buildings, and major renova ons to an exis ng structure that will extend the useful life. In Fiscal Year 2006, $6 million was expended for various projects to include $4 million of School Impact Fees for the construc on of the Renaissance Center. Due to the downturn in the economy no major projects were budgeted from Fiscal Year 2009 through Fiscal Year 2013. In Fiscal Year 2014, the County purchased the Meadowcrest Office Building to serve as the Westside Government Building. Machinery & Equipment describes expenditures for office furniture, copiers, vehicles, and heavy equipment. Items that are nominal in cost (less than $1,000) and have a useful life of less than five years are included in the Opera ng Expenses category. In Fiscal Year 2010, the County began the process of reducing its motorized fleet and modifying the vehicle replacement schedule. In Fiscal Year 2006 $2.4 million was expended for equipment, while $1.4 million was expended in Fiscal 2015. Total capital expenditures budgeted in the governmental funds for FY 2016 is $15.8 million, including $11.7 million in on-going transporta on projects. 82
Fund Balance Defini on Fund balance represents the excess of total fund assets over total fund liabili es. A nega ve balance is some mes referred to as a deficit. Fund balance is classified as nonspendable, restricted, commi ed, assigned and unassigned. Uncommi ed and unassigned funds generally can be included as available revenue in the next year s fund budget. An administra ve regula on was adopted on September 25, 2012 to establish an unassigned fund balance range for the General Fund. The policy establishes a minimum unassigned fund balance of eight percent (8%) and a maximum of seventeen percent (17%). The chart below depicts the General Fund with unassigned fund balance of 16.56%. 8% Min 17% Max FY15/16 Budget $5,878,862 $12,492,583 $12,169,755 Benefits There are numerous benefits of maintaining adequate fund balance. It provides working capital un l receipt of tax revenues, provides for the unexpected con ngencies and natural disasters, is favorably viewed by ra ng agencies and banks in evalua ng the credit worthiness of Citrus County, and allows the County to maintain a stable tax rate within temporary revenue and/or expenditure fluctua ons. Changes in Projected Fund Balance Projected Beginning Fund Balance 10/1/15 Projected Revenue Projected Expenses Projected Ending Fund Balance 9/30/16 Percentage Unassigned Fund Balance Percentage Increase/ Decrease General Fund 17,191,834 72,726,695 74,760,587 15,157,942 16.56% Transporta on 19,639,319 15,572,553 22,759,073 12,452,799 48.09% Non-Major Special Revenue Funds 18,212,521 26,748,801 29,166,927 15,794,395 46.80% Non-Major Debt Service Funds 50,137 4,089,802 4,089,445 50,494 1.22% Non-Major Capital Project Funds 658,624-367,574 291,050 58.39% Citrus County U li es 34,683,809 16,888,903 25,861,157 25,711,555 86.76% Solid Waste Management 14,699,741 6,656,838 9,710,386 11,646,193 118.30% Non-Major Enterprise Funds 2,264,284 1,808,325 1,923,350 2,149,259 125.21% 107,400,269 144,491,917 168,638,499 83,253,687 44.28% -11.8% -36.6% -13.3% 0.7% -55.8% -25.9% -20.8% -5.1% -22.5% 83
Analysis of Significant Changes in An cipated Fund Balance The following analysis focuses on fund balances of County funds an cipated to increase or decrease by 5% or more. General Fund The General Fund fund balance is projected to decrease 11.8%. This is due to a combina on of property tax limita ons and the Board of County Commissioners op ng to lower reserve levels rather than increase the millage. Projected Projected Percentage Beginning Fund Projected Projected Ending Fund Increase/ Balance 10/1/15 Revenue Expenses Balance 9/30/16 Decrease 17,191,834 72,726,695 74,760,587 15,157,942-11.8% Transporta on Fund (Major Fund) Overall, the transporta on funds are an cipa ng a reduc on in fund balance of 36.6%. Road & Bridge The decrease in fund balance reflects the an cipated expenditure of bond proceeds on major road projects and use of fund balance for road resurfacing. Projected Projected Percentage Beginning Fund Projected Projected Ending Fund Increase/ Balance 10/1/15 Revenue Expenses Balance 9/30/16 Decrease 19,639,319 15,572,553 22,759,073 12,452,799-36.6% Special Revenue Funds (Nonmajor Funds) Nonmajor Special Revenue funds are forecas ng an overall reduc on of 13.3%. Impact Fees The decrease in fund balance is due to the suspension of impact fee collec ons for a two-year period. The county is using part of the accumulated fund balance to complete capital projects funded with these fees. Projected Projected Percentage Beginning Fund Projected Projected Ending Fund Increase/ Balance 10/1/15 Revenue Expenses Balance 9/30/16 Decrease 18,212,521 26,748,801 29,166,927 15,794,395-13.3% 84
Enterprise Funds Citrus County U lity Fund (Major Fund) Fund balance in the U lity Fund is forecasted to decrease by 25.9%. U li es Division The decrease in fund balance is in an cipa on of contrac ng and comple on of several capital projects. In addi on, U lity Services is commi ng other funds primarily for a more aggressive capital improvement plan. Projected Projected Percentage Beginning Fund Projected Projected Ending Fund Increase/ Balance 10/1/15 Revenue Expenses Balance 9/30/16 Decrease 34,683,809 16,888,903 25,861,157 25,711,555-25.9% Solid Waste Management Division (Major Fund) Fund balance in Solid Waste Management is forecasted to decrease by 20.8%. Solid Waste Management beginning fund balance includes funds for capital improvement projects. These projects have been budgeted in an cipa on of comple on in this fiscal year. Projected Projected Percentage Beginning Fund Projected Projected Ending Fund Increase/ Balance 10/1/15 Revenue Expenses Balance 9/30/16 Decrease 14,699,741 6,656,838 9,710,386 11,646,193-20.8% Enterprise Funds (Nonmajor Fund) Nonmajor Enterprise Funds fund balance is expected to decrease by 5.1%. Building Division The County experienced a surge in building permit ac vity of $3.5 million in Fiscal Year 2005 that had tapered off to a low of $1.4 million in Fiscal Year 2010. The County is using part of the accumulated fund balance to supplement building permit revenue. Expenditure reduc ons including posi ons were implemented to address the decline in building inspec ons ac vi es, but now the County has been realizing a slight increase in permit ac vi es enabling the restora on of some of the eliminated posi ons. Projected Projected Percentage Beginning Fund Projected Projected Ending Fund Increase/ Balance 10/1/15 Revenue Expenses Balance 9/30/16 Decrease 2,264,284 1,808,325 1,923,350 2,149,259-5.1% 85
Grants and Grant Matches The Board of County Commissioners has been awarded various grants to benefit the community and ci zens of Citrus County. These grants come from various federal, state, and private sources. For the fiscal year ending September 30, 2014 the County recognized revenues in excess of $4.4 million from federal grants and $3.3 million from state grants. In addi on, grants were received from other sources, such as the State of Florida Department of Children and Families and Southwest Florida Water Management District. The federal grants received were used to provide various services to low income residents of the county, improve the wind resistance of fire sta ons for protec on during natural disasters, and public safety ac vi es performed by the Sheriff s Office. The state grants received were used for construc on of water and wastewater facili es, the Emergency Opera ons Center, and various avia on projects. State grants were also used to provide housing services to low income residents of the county. Some grants require match to share the cost between the federal, state, and local agencies. Match can include, but is not limited to: cash contribu ons, in-kind me and effort, equipment and supplies, and physical space. Monetary or cash match includes cash spent for project-related costs under a grant agreement. Allowable cash match must include only those costs which are allowable and are in compliance with the program guidance and/or program regula ons. In-kind match is defined as contribu ons of the reasonable value of property or services in lieu of cash which benefit the project or program. This type of match may only be used if not restricted or prohibited by program statute, regula on or guidance and must be supported with source documenta on. Only property or services that are in compliance with program guidance and/or program regula ons are allowable. The methodology for calcula ng the required match can vary with each funding source. For example, the County may be awarded a grant in the amount of $100,000 requiring 20% cash match. One formula to calculate the match is to mul ply the grant award by the cash match percentage ($100,000 x 20% = $20,000), which results in a required match of $20,000. Another formula is to divide the grant award by the percentage of grant award to determine the total amount then deduct the grant award ($100,000 / 80% = $125,000, $125,000 - $100,000 = $25,000), which results in a required match of $25,000. The following schedule of grants and matching funds depicts the amount of funds the County contributes to the various gran ng agencies according to their specific grant match calcula on requirements. Some grants u lize fees or private dona ons to achieve the required grant match. This schedule is not inclusive of all grants awarded or an cipated awarded, but only those grants which the Board of County Commissioners contributes matching funds. 86
FY 15/16 Grant Match Schedule Agency Grant Award County Funding % Community Care for the Elderly (CCE) 511,892 27,500 10% Crystal River Airport Li Sta on 75,600 18,900 2% Crystal River Airport Pavement btw Hangars 24,000 6,000 2% Inverness Airport Industrial Park 75,000 75,000 50% OAA Title IIIB, C1, C2 654,526 25,000 10% OAA Title IIIE 52,648 5,500 10% Re red & Senior Volunteer Program (RSVP) 125,032 27,560 30% Sugarmill Woods Wastewater Plant 4,000,000 4,200,000 N/A Transit Capital 5310 889,600 88,960 10% Transit Opera ons 5311 566,727 163,654 50% Transit Opera ons 793,820 326,544 50% Transit Transporta on Disadvantaged 473,332 39,755 10% Watershed Mgmt - Maintenance 100,000 100,000 50% WRWSA Conserva on & Public Outreach 40,250 40,250 50% Total 8,382,427 5,144,623 87
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