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Home My WebLink AboutPresentationJ Present the 2005 Fiscal Year Budget Outlook, and the underlining assumptions and estimates. •Address some of the fiscal challenges for the upcoming year • Solicit feedback from the Commission on fiscal priorities and goals for the 2005 budget. September 28, 2016 2 STRATEGIC PLANNING PROCESS Internal Data Analysis (Financial Results and Measures Review) Strategic Plan Multi -Year Budget/CIF Annual Budget External Data Analysis (Customer Feedback) • Balanced Scorecard Methodology • Four Perspectives Customer Financial Internal Process Employee Learning and Growth September 28, 2016 4 What does the Balanced Scorecard do? The Balanced Scorecard is a framework that helps organizations translate strategy into measurable operational objectives that drive both behavior and performance. September 28, 2016 5 CITY OF MIAMI BALANCED SCORECARD STRATEGY MAP VISION: TO BE AN INTERNATIONAL CITY WHICH EMBODIES DIVERSITY, ECONOMIC OPPORTUNITY, EFFECTIVE CUSTOMER SERVICE AND A HIGHLY -RATED QUALITY OF LIFE. IMPROVE ECONOMIC HEALTH AND DEVELOPMENT SUPERIOR CUSTOMER SERVICE INVEST IN NEIGHBORHOOD AND ENVIRONMENTAL QUALITY MANAGER MANAGER- ALICIA C.S. - ALICIA G.S. Provide Sustainable Tax Relief Customer Perspective Reduce Poverty FINANCIALLY STRONG AND FISCALLY -ACCOUNTABLE LINDA H. LINDA Enhance /� Broaden Existing Revenue Revenue \Opportunities / Financial Perspective Foster Transportation Systems for \Future Growth EFFICIENT, EFFECTIVE, AND QUALITY CITY GOVERNMENT MANAGER Maximize Grant Opportunities and Management Internal Process Perspective ALIGNED WORKFORCE Learning and Growth Perspective MANAGER Secure Private and Public Partnerships rovide Excellen Recreational, Educational, and ultural Program LARRY S. Achieve Operational Savings J LAR ALICIA C.S. store, maintain, and Beautify Urban and Residential Infrastructures TIMONEY/ /BRYSON / Provide Excellent Public \ Safety OPERATE AS A SERVICE - FOCUSED ORGANIZATION MANAGER Provide Excellent Customer Service MANGER Y S./LINDA H./PETER K. Improve Business and Service Delivery Processes i /ffistill Custom r Focused, High- OSALIE , Performance Culture Align Employee Goals with City \ Goals CDevelop Strategic Skills' LIE M. Provide Employees with Key Information BRYSON Provide a Quality Work Environment chieve Cose Effective Municipal Services A PETER K. MANAGERANAGE Deliver // Facilitate Technology and Service Access e-solutions / for Customers Category F` '04 Adopted FY 05 Budget Projection Difference Btw FY604 and FV" 05 TAXES LICENSES AND PERMITS INTERGOVERNMENTAL REVENUE CHARGES FOR SERVICES FINES AND FORFEITS MISCELLANEOUS REVENUE NON -REVENUES INTERNAL SERVICE FUNDS REVENUE TOTAL SALARIES & WAGES - FIXED FRINGE BENEFITS - FIXED OPERATING EXPENSES - FIXED OPERATING EXPENSES - VARIABLE CAPITAL OUTLAY -VARIABLE TRANSFERS TO OTHER FUNDS EXPENSE TOTAL REVENUE.+EXPENSE TOTAL: $181 ,142,662 $9,566,645 $31 ,685,129 $94,135,591 $4,100,000 $14,917,042 $33,992,449 $47,786,792 $203,840,224 $9,564,452 $32,706,278 $91 ,483,354 $4,410,000 $15,132,070 $45,199,425 $41 ,863,187 $22,697,562 ($2,193) $1 ,021 ,149 ($2,652,237) $310,000 $215,028 $11 ,206,976 ($5,923,605) $417,326,310 $44 ,198,989 $26,872,679 $202,314,740 $207,785,176 $21 ,115,577 $23,511 ,941 $69,767,330 $96,626,672 $81 ,385,244 $82,840,741 $416,087 $932,196 $42,327,332 $32,502,264 $5,470,435 $2,396,364 $26,859,342 $1 ,455,497 $516,109 ($9,825,068) $417,326,310 $44 ,198,989 $26,872,679 so so .} September 28, 2016 7 Recurring Revenues Major General Fiind Revenues Contribution from Utilities Solid Waste Fee - Res. Half Cent Sales Tax FP&L Franchise Parking Surcharge Special Inspections Interest on Investment Stormwater Utility Fee State of FL Revenue Local Option Gas Tax Subtotal Ad Valorem Taxes Real Current Taxes Personal Current Subtotal Other Recurring Revenue Various Subtotal Total Recurring Revenues September 28, 2016 FY 2004 Adopted Budget $ 47 ,417 ,828 $ 20 ,975 ,546 21,191,422 14 ,630 ,727 12 ,631,398 9 ,579 ,420 8 ,000 ,000 8 ,962 ,242 8 ,983 ,707 7 ,700 ,000 FY 2005 Forecast Budget 41,713,187 20 ,975 ,546 20 ,500 ,000 15 ,500 ,000 9 ,450 ,000 9 ,837 ,265 8 ,000 ,000 8 ,962 ,242 10,647,155 6 ,700 ,615 Variances from 2004 °b Change $ (5,704,641) (691,422) 869,273 (3,181,398) 257,845 1 ,663 ,448 99 ,385) -12.03% 0.00% - 3.26% 5.94% -25.19% 2.69% 0.00% 0.00% 18.52% -12.98% 160 ,072 ,290 152 ,286 ,010 (7,786,280) $ 141,630 ,606 $ 165 ,347 ,866 $ 23 ,717 ,260 14 ,181,330 13 ,937 ,242 (244 ,088) 155,811,936 179 ,285 ,108 23 ,473 ,172 - 4.85% 16.76% - 1.72% 15.07% 74 ,448 ,497 74 ,448 ,497 72 ,627 ,870 72 ,627 ,870 (1,820 ,627) (1 ,820 ,627) 390,332,723 t 404.198.988 .+ 13.866.266 - 2.45% -2.45% 3.55 ° 8 • Total taxable value grew by $3,040,868,999 to $22,468,477,573 or 15.66% • New Construction $574,822,959 • Existing Property appreciation $2,466,046,040 September 28, 2016 9 • Overall revenue is projected at $179.2 million • Millage rate of 8.7625 • Current year rollback rate is 7.5624 mills • The proposed millage rate is 15.87% higher than the rollback rate • Translates to additional revenue of $26,964,420 September 28, 2016 10 • Fee reduced by 25% • Requires 20% contribution to Downtown infrastructure improvements • Impact $3.0 million reduction in the fee to $9,450,000, and $1,890,000 toward capital contribution. September 28, 2016 11 • Residential Solid Waste Fee will remain flat at $325 per household - $20.9 million • Residential fire fee will remain flat at $61 per single family unit - $9.8 million general fund - $4.2 million to Capital September 28, 2016 12 What is being impacted? September 28, 2016 13 •The FY 05 projected amount for Salaries and Wages includes a 5% anniversary increase for all permanent positions September 28, 2016 14 27 positions that were converted from temporary positions to permanent The FY 05 implications are as follows: Police's TO increased by 2 positions with a total impact of $11,859 Park's TO increased by 25 positions with a total impact of $195,493 September 28, 2016 15 Pension at a Glance Adopted Proposed Pension FY 04 FY 05 Difference % Change GESE 13,779,217 22,100,134 8,320,917 60.39% FIFO 34, 522, 203 51, 278, 440 16, 756, 237 48.54% Total 48,301,420 73,378,574 25,077,154 51.92% • $69 million represents the City's contribution to the pension assets • Increase of over $22 million from 2004 • $4.0 Million administrative cost September 28, 2016 16 Outside Agencies with General Fund Impact Oustide Agencies Agency Virginia Key Beach Trust Bayfront Park Trust Off Street Parking/Gusman Olympia Model City Community Revitalization District Trust Community Redevelopment Agency Civilian Investigation Panel GEE FIPO Total Outside Agencies Adopted Proposed FY04 FY05 Budget Budget Difference % Change 715,000 1,066,083 351,083 49.10% 1,085,000 1,085,000 - 0.00% 256,400 332,956 76,556 29.86% 621,777 641,263 19,486 3.13% 659,388 659,388 - 0.00% 674,073 1,148, 644 474,571 70.40% 13,779,217 22,100,134 8,320,917 60.39% 34,522,203 51,278,440 16,756,237 48.54% 52,313,058 78,311,908 25,998,850 49.70% September 28, 2016 17 Other General Fund Impacts LETF funding reduced • Fixed and Variable Operating Cost remain essentially flat •Vacancy analysis September 28, 2016 18 See you in September September 28, 2016 J 19