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Home My WebLink AboutCitizens' Budget Committee Budget Discussion 2-16-18L/ LU/ LV.LI • BUDGET DISCUSSION FEBRUARY 16, 2018 CITIZENS" BUDGET COMMITTEE u • Purpose • Economic Condition -Future Growth • Five Year Plan • FY 2017 Actual - Unaudited Analysis • General Fund/Fine & Forfeiture • Balance Forward • FY 2618 Budget Status • Quarterly Reporting • Budget vs Actual Report • CIP Status Update Report • Strategic Priorities for FY 19 • Future Challenges �J 01 L/ 1V/ LV1 e • Economic Condition -Future Growth j • Key Factors of Economic Growth Chart Name Federal State Local Economic Growth (GDP) X X Personal Income X X Population X X Home Values X X Unemployment Rate X X X Foreclosures. X Bldg. Permits & Values X L/ 1V/ LV11 • • nited Sta Percent Change in Real GDP by State, 2017:Q1-2017:Q2, Seasonally Adjusted at Annual Rates (GDP) C—b 3.8to8.3 HI _ 3.0 to 3.8 1-5 `� - �..i 2.4 to 3.0 1.5 to 2A Q -0-7 to 1.5 r Source: The Florida Legislature Office of Economic and Demographic Research, Florida: An Economic Overview, November 30, 2017 nited States Persona nc cer Personal Income: Percent Change, 2017:Q1-2017:Q2 Change MA 0.7 0.7 • . MS -0:4 M7-' 0.6 -. - v - U.S. growth rate = 0.7 percent '4 _ - o.9 to 2.3 0.8 to 0.9 0.9 i "� - '"-.` © 0.7 to 0.8 _ _.... _.._...... i -- � Q 0.6 to 0.7 Q 0-1 to 0.6 Source: The Florida Legislature Office of Economic and Demographic Research, Florida: An Economic Overview, November 30, 2017 6 `- ounty 500.000 30,OOD,OOD 450,000 400,000 24,099,828 25,000,000 20,656.589 350,000 19.341.327 19,897,747 �•'' r, 18,166.990 18,527,305 18,846,461 �, 77,415,318 , 20,000,000 300,000 16,047,515 16,689,370 = t _ n 250,0007 7L N 200,000 7 LL 36,4;702 150,000 - .• .' ti 1D,000,000 306,507 - ' 2 5 94 2 8, 85 2 3,' 26 2 1, 02 t. 2119, 28 .. 5' So 100,000 1 3, 00 2 _ 08 ! l t" 5,000,000 50,D00 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2020 2025 Projected Projected o St Luice County Population eSrlFlanda Population Sources: U.S. Census Bureau — quickracts—St. Lucie County and Florida Housing Data Clearinghouse— Regional & Local Profile: Results— Housing Profile — St. Lucie County, Florida— Population Projections Federal Reserve Economic Data: Resident Population in Florida - https://fred.stiouisfed.org/series/FLPOP 7 in le Family Home Values - Florida & St. Lucie County Median St. Lucie County Home Values S300,000 $24a,185 S250,000 i $2oa,000 S200,000 $184,550 $187,000 $169,5 $138,600 $154,100 $273,800 5150,000 f $239,950 � $256,250 �•-': �—� e: $233,688 $120,ODO _ $95,000 S100,00D$100,000 _' i $50,000 i Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 -._. St. Lucie max —Statewide Sources: St. Lucie County EDC— Key Economic Indicators Zillow.com - http://www.zlllow.com/research/data/#Imedian-home-value 8 • C, L/1V/LV14 • • • r r -M to ment Rates Oct. 2016- Nov. 2017 Unemployment Rate (%) zoo .. . 6.1 6.00 5.7 5S 5A - �- 5.3 -_ 5.3 / S. 5.0 4.8 4.6 5.00 4.5 4.6 .. 4.4 4.3 4.2 4.00 3.00 2.00 Go Oct-16 Nov-16 Dec,16 Jan-17 Fet07 Mar-17 Apr-17 May-17 Jun 17 J&V Aug-17 Sep-17 Oct-17 Nov-17 oeo-17 Florida oU.S. �St Lucie Source: https://data.bls.gov/pdq/SurveyOutputServiet 9 St. Lucie County Foreclosures • November 2014-November 2017 St. Lucie County Foreclosures 3,200 ,716 ! 2 2,700 2,173 2,OD6 2,200 2,425 1,806 2,062 1,645 1,700 f 1,914 1,912 1,366 1,598 1,224 1,492 1,007 1,049 993 1,200 i 1.214 820 798 700 u) N u1 v) u) u) u) u) w 0 0 0 0 to 0 0 0 V V u) u1 u) N rG ❑ ❑ LL Q Q U) ❑ Z• ❑ LL Q Q !n Z Z ❑ LL Q U) Z -.0—Foreclosures Source: St. Lucie County Clerk of Court— Recording Division and Civil Courts — Probate Division 10 Lf _LU/ GU1 • Permits & Permit Values 2010-2018 450.0 - .. _ _ ... .... _ 400.0 • 90.0 90.0 350.0 86.5 B0.0 81:8 325.0 300.0 : 74.1 70.0 E _ 274.0 d a 250.0 65.8 60.0 c 0 9.4 57.0 50.0 44.0 150.0 134.0 30.0 100.0 100.3 98.7 50.0 51.0 63.6 67.0 75:4 ` 4 20.0 10.0 0.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 Projected 0.0 Building Permits -+Permit Value ••I • ......... 5....=.11-111-viwa- uuuunig ano l e negulaxion-zoning 5 Permitting I on a calendar year. I FM -FY 2018 CW Taxable Value and % Change 40% $30,000,000,000 39.25% - 28.5B% 30% $25,000,000,000 - - s. 4: 20% 7.33% $20,000,000,000 p 10% - 3.15/o 0 4.26% - - - �. 4.67 o -3.23% -1.63% 77 � 8. 0% '' $15,000,000,000 O% I' ' • 6. 6 5; -10.900 4• 3: _ _ _ •10% $10,000,000,000O - '.. •.. -20% $5,000,000,000 •- ':: _.. _.. -: :... ,:. `". _ -30% FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 OTAXABLE -%CHANGEOFCOUNTY-WIDE L/1V/LV11 • Positive Economic Indicators • Recession Potential • Additional Homestead Exemption • Parks MSTU set to expire in 2023 • Gas Taxes • Infrastructure Surtax • Five Year Plan :7 14 L/ .L y/ L V 1 ----- _� B ARD COMPARISON GE FUND/FINE & FORFEITURE FY 2010 TO FY 2017 IN MILLIONS 120 $6.8 100 80 Combined 60 $112.3M Combined $19.0 Combined $12.4 Co ombined 40 - $64.5M $62.11V1 $553M 20 0 FY 2010 Beginning Bal. FY 2015 Ending Bal. FY 2016 Ending Bal. FY 2017 Ending Bal. ■ Gen. Fund ❑ Fine & Forfeit 15 Forecast FY 2017 to FY 2022 205 .. ..... .. _.._ _ 195 7 _ $187.58 185 - $183.24 --------- $179.03 -------- $174.96 ----- _?p----------- 175 165 155 .../'' .... 145 - 125 .. ... .: ...... :_... .. _... ..-. 2017 2018 2019 2020 2022 2022 Revenue Expenses Note: Does not take into account additional homestead exemption referendum impacts or Hurricane Repairs16 • • c/ iv/ cvi, is FY 2017 Actual -Unaudited Analysis 17 General Fund/Fine & Forfeiture Description FY 17 Projection Actuals Difference Operating Revenue $150,150,000 $151,817,859 $1,667,859 Operating Expenses $155,870,000 158,228,296 $2,358,296 Difference ($5,720,000) ($6,410,437) ($690,437) Variance Analysis: Revenue: Ad Valorem taxes were collected at 96% of the budget which is consistent with historical trends. Revenues were budgeted at 95%, many of our revenue collections exceeded this threshold. Expenses: General Fund and Fine & Forfeiture expenses exceeded prior year projections mostly due to Hurricane Irma expenses of approximately $1.1 Million. During FY18 one-time budgets was established for the Airport Revolving Loan Fund ($500,000), Sunshine Kitchen ($650,000), and Court Facility Study ($100,000) 18 L/ LUf LV1 Use of Balance Forward — Reserves & Deficit Spending Description Amount 2017 Ending Fund Balance $55.7 Million Less: Reserves $36.5 Million Net Balance $19.2 Million Less: 2018 Reliance on Reserves $3.8 Million Budget Stabilization Balance $15.4 Million FY 2018 Budget Status • • • 11 Gj 1Vj LV11 0 L---A • Quarterly Budget vs Actual Reports • Quarterly CIP Status Update Reports Pfm C , Countyineid Co�1gon&t 1 A uai lieu Iou+�s Expend_it}ures� � Ex�ndttures � � f Rerrgnues ;a�ar�ealc . htagetne:ns, :- itiysrdu, Fees S 9 09L952 . ` Serviie5 Flues 6 ForiMs 508% .- 10 216 728' 148,073 Oth" uses.'Lin SyeaAsmes. 5.74%� 0:08% 43,696,901 '17SM �a { Oulw v� � srk� _ OttrerNOn,t, 584% F Gpe,,,dre 9.61207 .. Tames \:DebtSema` I ]3906S;434 3089020 Grestts B Aids" . - 781I27i - m4% 7:839,737 8.9976 :22 rr1 1 Qtrl - Budget vs Actual $Bag000 $s00,0o0 $a '000 $300,000 $200,000 $200,000 $0 Total Amended Budget Revenues Total Actual Revenues Total Amended Budget Expenditures Total Actual lEapenddures 23 SQQ ja De� rtrl'1erit. In u l Per ;rit f d t >$5Oo } Facilities Environmental Resources $7,177,741-,- $200,000 -Library Services 6.39°1° - 0.18% $130,382 Public Utilities..- 0.12% $6,313,545 49.07% Administration— Parks & Recreation $12,115,837 ,, $55,122,212 10.79% 49.071% Public Works___ $31,277,584 27.84% , • r: r � U I L/ 1V/ LV14 • • is Future Challenges uture Inane Unfunded Infrastructure • Road Repaving • Stormwater • Beach • Port/Airport • Capital Needs Sheriff's Office • Compensation • Infrastructure Needs (Medical Unit) • Video Visitation Building County Compensation and Benefits Additional Homestead Exemption Unfunded Mandates • Medicaid • Florida Retirement System 25 26 =I 1 L/1V, LV1 r Strategic Priorities for FY 19 27 [J:a c .. s f®r 2018-2019 Strategic Priorities — Infrastructure._^ Objective: Design, Construct & Maintain .Infrastructure Goal: Critical Infrastructure Investments • Roadway, drainage and sidewalks • Improve capital planning and project management staGrend, abut intrteesisnotwlerewe what direction we are moving...." • Negotiate gas tax interlocal agreement with cities Oliver Wendell Holmes • Sales Tax Initiative 28 • • • 1d L/.LU/GV1i • • 2018-2019 Strategic Priorities — Infrastructure (cont.) Objective: Design, Construct & Maintain Infrastructure Goal: Critical Infrastructure Investments • Surplus Land/Buildings • First Data Field (MET's) Construction • FPUA/SLC Utility resolution • Wastewater Treatment Plant off Island • ZOUNTY 0 for 2018-2019 'Greatness is not where we stand, but in what direction we are moving... ' Oliver Wendell Holmes 29 � L Strategic Priorities — Public SafetyMR Objective: Provide for a Safe Community Goal: Critical Infrastructure Investments _ = • Reduce Public Safety Overtime "Greatness is not where we stand, but in what direction • Hurricane Recovery — FEMA Reimbursement we are moving..." Oliver Wendell Holmes • Jail facility upgrades • Visitation Center Building 30 1! L1.LU LV1 Priorities for 2018-2019 Strategic Priorities — Environment Objective: Protect the Natural Resources Goal: Leverage Partnerships to create improved access to Preserved lands • Water quality initiatives • Extension of Waste Pro Agreement for Commercial Recvclina Clean Up St. Lucie Priorities for 2018-2019 Strategic Priorities — Community & Economic Development Objective: Promote Economic Development Goal: Improve Business Environment • Expand use of the "St. Lucie Works" brand • Continue business retention and expansion initiatives • Chamber evaluation of Public Works Engineering Goal: Develop Strategic Assets • Facilitate development of the Port of Fort Pierce • Implement Treasure Coast International Airport Business & Marketing Plan • Enhance EDC Business Development & Marketing Assets • Fully Lease Sunshine Kitchen operational by June 2018 N _ )( W - E s The real path to greatness, it turns out, requires simplicity and diligence. It requires clarity, not instant illumination. It demands each of us to focus on what is vital and to eliminate all of the extraneous distractions. Jim Collins 31 7,- W _ E 5 The real path to greatness, it turns out, requires simplicity and diligence. It requires clarity, not instant illumination. It demands each of us to focus on what is vital and to eliminate all of the extraneous distractions. Jim Collins 32 • • 1i L/ 1 V/ GV J.1 47 Priorities for 2018-2019 Strategic Priorities — Community & Economic Development (Cont.) N .. b Objective: Promote Economic Development -- , • Airport Master Plan W - _ E • Front Entrance g • Terminal The real path to greatness, it turns out, requires • DiMaria and diligence. It requlires clarity, not • AP P It instant illumination. demands each of us to • Port Operator Selection focustoaliinnate all off tal he and • Land extraneous distractions. Jim Collins • Destin Beach Properties Litigation • Seaport expansion • Second street improvements • Fisherman's wharf 33 • rateeic Pri for 2018-2019 Strategic Priorities — Culture & Recreation Objective: Maintain a High Quality of Life Goal: Maximize Partnerships to Leverage Resources • Local Arts Agency Launched • Renew the Parks MSTU before 2023 • Expand the quality of resort hotels • Maximize amateur sporting events • Expand Region as premier destination for Cultural and Recreational Activities • Beach Replenishment • 'Greatness Is not where we stand, but in what direction we are moving...." Oliver Wendell Holmes 34 1' for 2018-2019 Strategic Priorities — Culture & Recreation (Cont.) Objective: Maintain a High Quality of Life Goal: Maximize Partnerships to Leverage Resources • Continue to foster partnership on projects to support and x. improve healthy ecosystems, and ensure an eco-aware 'Greatness is not where we citizenship stand, but in what direction we are moving...." • Continue to expand and improve SLC Preserve's and Oliver Wendell Holmes Greenways & Trails systems • Continue to leverage resources for protection and preservation of SLC's natural resources and implement high priority ecosystem restoration projects • Continue Advancing Ecotourism Development Plan 35 Priorities for 2018-2019 Strategic Priorities — Management Services Objective: 1. Innovation 2. Provide Transparent & Accountable T. Financial Management 3. Develop and Train Workforce 'Greatness id s n where we Goal: Sustainable Spending by 2020 and Build Internal Capacity stand, butinwhat direction • Budget with No Millage Increase we are moving Oliver Wendell Holmes • Financial Reports • Monthly Budget Vs Actual • Capital Report • Performance Management Countywide with ties to Budget . Continue to Develop High level Strategy Map/Scorecard • Leadership Development Training • Customer Service Training • Implement an IT Leadership Council 36 0 0 it, L/1V/LV11 1�i - 0 • for 2018-2019 Strategic Priorities — Management Services (Cont.) Objective: 1. Innovation 2. Provide Transparent & Accountable Financial. Management 3. Develop and Train Workforce Goal: Sustainable Spending by 2020 and Build Internal Capacity • Continue Yellow and Green Belt Training • Clinic Operations • Dependent Use Up • Additional Insurance Savings/Compensation • New Location • Reduce inmate medical expenses thru Lawnwood • Evaluation of existing Assets BUDGET DISCUSSION FEBRUARY 13, 2018 INFORMAL BOARD MEETING • hies -i 'Greatness is notwherewe stand, but in what direction we are moving...." Oliver Wendell Holmes 37 38 1!