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<br />Summary Minutes: Special City Commission Meeting September 1 I, 2008
<br />First Budget Hearing
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<br />Sunny Isles Beach, Florida
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<br />between the Commission and the City Manager to forge a document in tandem as opposed to
<br />the City Manager coming in September with a document that the Commission is seeing for the
<br />first time, whereas this is our sixth (6th) meeting on the budget. City Manager Szerlag did a
<br />power-point presentation, and indicated some of the issues of salience that we have included:
<br />Initial Impact: eliminated the Human Resources Department which is now combined with the
<br />City Manager's Office; this is our first full year of operation for the Pelican Community Park
<br />Gymnasium, Community Center, and the Ball Field which was an 8-year project, and just in
<br />time for the opening of our new K_6th Community School, also taking on the responsibility for
<br />the after-school program. He noted that the Wireless Island Project was scaled back
<br />significantly but still has almost full coverage at ground level at the City's Parks.
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<br />City Manager Szerlag noted from last year to this year, there has been an increase of about
<br />$300,000 in the fund balance. He went over the Fiscal Year 200812009 Revenue Summary
<br />noting that Operations is proposed at $26,890,480; Expenses including Contingency is
<br />proposed at $29,252,780 which includes a transfer of $5 Million to Capital Improvement
<br />Projects, noting that this is the second year we are doing this; and that we also require
<br />$2,362,300 of fund balance surplus to balance our budget this year. The proposed millage
<br />rate is 2.4842 mills vs. the current rate of 2.3979, and as defined by the State, this is not
<br />considered a tax increase because it generates the same tax revenues as last year excluding the
<br />impact of new construction and Amendment 1. So we did not have to advertise as a millage
<br />rate increase because our revenues are base times rate, and they are commensurate with the
<br />additional millage increase. The impact of rate difference on average property in Sunny Isles
<br />Beach in 2007 is $19.69. The City had $358 Million in new construction for 2007.
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<br />Capital Improvement Fund: City Manager Szerlag said the projected change in fund balance
<br />from September 30, 2007 to September 30,2008, went from $25,192,608 to $14,637,315, and
<br />so we spent $10,555,293, which is what happens when you have projects on the shelf, take
<br />them off the shelf, and actually start building them, which is a good thing. Revenues:
<br />Operations and Transfers proposed at $15,236,394; Expenses: including Contingency
<br />proposed at $22,940,000, and it requires using $7,703,606 of Fund Balance Surplus.
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<br />Stormwater Fund: City Manager Szerlag said the projected change in fund balance from
<br />September 30, 2007 to September 30, 2008, is minimal because we have not spent a lot of
<br />money at this point but we are going to with the Central Island Drainage Improvements
<br />Project which is under construction right now and is ahead of schedule. Revenues: Operations
<br />and Grants proposed at $4,922,929; Expenses: including Contingency proposed at $8,243,019,
<br />and it requires using $3,320,090 of Fund Balance Surplus.
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<br />Public Speakers: none
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<br />Commissioner Goodman asked City Manager Szerlag to clarify where the money comes from
<br />on slide 5 of the power-point presentation in the fund balance surplus, and Mayor Edelcup
<br />noted on slide 4 that the money comes from the Fund Balance of$17,619,569. City Manager
<br />Szerlag explained that in some years you will have more revenues come in than expenses, and
<br />what is left over is put into this surplus, or Fund Balance. In other years, if you don't want to
<br />reduce the level of service, and you think the economy is going to come back in a short
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