Title
MOTION TO ADOPT PROPOSED ORDINANCE NO. 2019-17 ON SECOND AND FINAL READING.
PROPOSED ORDINANCE NO. 2019-17 IS AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF PEMBROKE PINES, FLORIDA, ADOPTING THE BUDGET FOR FISCAL YEAR 2019-2020; AND ADOPTING THE FIVE (5) YEAR CAPITAL IMPROVEMENT PROGRAM FOR THE CITY OF PEMBROKE PINES, FLORIDA, IN ACCORDANCE WITH §5.08 OF THE CITY CHARTER; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. The 2019 Preliminary Taxable Value of the City is $13.5 billion, an increase of $954 million or 7.6%.
2. The 2019-20 Revised Proposed Budget for All Funds is $423.2 million.
3. The operating millage rate is 5.6736, which is the same as the millage rate adopted for the 2018-19 fiscal year.
4. The debt service millage rate is 0.4464, and generates revenues to meet the debt service requirements of the General Obligation Bonds.
5. The residential fire assessment rate is $282.38, an increase of $10.63 when compared to last year's rate of $271.75.
6. Section 5.04 of the City Charter requires the budget be adopted by Ordinance.
7. Changes subsequent to the original submission of the Proposed Budget are reflected in Proposed Ordinance No. 2019-17.
8. The 2019-20 Revised Proposed Budget reflects the changes discussed at the first budget hearing that was held on September 5, 2019.
a. General Fund - Phase I of the POLK building remodel ($940,000) was postponed to 2020-21 to provide funding for three (3) additional Police Officer positions and one (1) additional Code Compliance Officer position.
b. Utility Fund - Phase 1 of the POLK building remodel ($1,410,000) was postponed to 2020-21 and the water/sewer rates reduced by an additional 2.44%. The new total reduction to the water/sewer rates is a 7.50% decrease. (This decrease includes the 3.24% to forego the CPI, plus 1.82% associated with changes to the capital budget, and now an additional 2.44% reduction as a result of the postponement of the Polk Building renovations.)
9. Recommend passing Proposed Ordinance No. 2019-17 on second reading.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: See Exhibit A & B to Proposed Ordinance 2019-17.
b) Amount budgeted for this item in Account No: See Exhibit A & B to Proposed Ordinance 2019-17.
c) Source of funding for difference, if not fully budgeted: Not Applicable.
d) 5 year projection of the operational cost of the project Not Applicable.
e) Detail of additional staff requirements: Not Applicable.