The City of Treasure Island

Proposed Budget Presentation

FY 2021

Charting the

course forward

Budget Strategies

Held the line on the General Fund Budget

To better position us for the following year

Made a combination of one-time & recurring reductions to off-set increased operating costs

Property values are projected to decrease (FY 2022) in the following year impacting property tax revenues

Continue to make investments towards a virtual City Hall

Personnel Costs

No employee raises city-wide

No health insurance premium increases

Small increases for FRS pension, workers comp, dental insurance

Increase due to County funded additional EMS positions for full year

No additional Positions

Delete a Water Pollution Control Mechanic position

Add a Maintenance Worker III position for the Beach Vegetation Removal Project’s recurring maintenance

Funding for Causeway/Bridge Capital Renewal

Budget Strategies

• Proposed increase in Committed millage rate from .30 to .40 mils for Capital Renewal

• Continue to increase .1 mills annually to .5 mills

• Continue with Federal and State Lobbying Firms

• Personnel & Operating will continue to be funded by General Fund

• The East Causeway Roadway & Drainage Improvement Project will begin in FY 2021—

received $1.2M in state funding and $275k in Southwest Florida Water Mgt District

Grant Funding

Long-Term Financial Plan for Causeway by Atkins

Causeway Funding

Recommendations:

Engineering Update on Rehab, Preservation & Preventative Maintenance Schedule

Corresponding financial review to determine if any adjustment are needed

Budget Strategies

Continued focus on infrastructure

Sewer System

Sewer Rate Study to access revenue needs

10-year cycle for Lift Station Rehabilitation

Subaqueous pipe assessment to determine how much life is remaining

Preliminary feasibility study of re-routing sewer for treatment

Stormwater System

Increase Stormwater Fees 10% annually to FY 2023 (year 3 of 5-year plan)

Enable City to leverage projects/SWFMWD funding

City-wide Curb Replacement

Investments to the Stormwater Infrastructure that will lessen or lower future op-

erating costs

Penny/Gas Tax

Annual City-wide Pavement Management

City-wide Seawall Rehabilitation and/or Replacement

City-wide Capital Funding Sources

General Fund—No restriction on use of funding

- Causeway/Bridge Capital Maintenance - Reconstruction of City Facilities

- Vehicle & Equipment Replacement - IT Infrastructure

- Beach Improvements/Maintenance - Major equipment replacement/purchases

Penny for Pinellas Fund— Infrastructure & Public Safety vehicles

- City-wide Seawall Rehab/Replacement - Parks and Recreational Facility Projects

- 66% Road Maintenance - Police & Fire Vehicles

County Gas Tax Fund—33% Road Maintenance

Capital Project Funds —Gulf Blvd Undergrounding

—City Hall Remodel Project

Wastewater Fund— Sewer Fees fund capital

Solid Waste Fund— Refuse & Recycling Fees fund capital

Stormwater Fund— Stormwater Fees fund capital

Budget Strategies

Phased approach to replacement of City Facilities

Renovation of newly purchased City Hall (Allied Building)

May have to phase renovation into phases

Borrow for remaining City Facilities

Budget Strategies

Debt Management/Update

Loans Recently Paid Off

Central Beach Trail loan—May 2018

Gulf Blvd Undergrounding bridge loan—Nov 2018

Existing Loans

Lease/Purchase of Fire Truck $420k (4 year, last payment July 2022) - Penny for Pinellas

Capri and Palms Bridge loan (15 year loan, last payment Nov 2026) - General Fund

Purchase of new City Hall (15 year loan, last payment Jan 2035) - General Fund

Sewer State Revolving Loans $1.5M (20-year loans, last payment 2033 & 2037) - Sewer Fund

Future Loans

Reconstruction of remaining City Facilities

Master Sewer Lift Station Rehab/Reconstruction & Replacement of the subaqueous pipe

City-Wide Fee Schedule & Revenues

Proposed Utility Rate Increases

Boat Slip Rental $25/mo. Increase

Increase of after-hour building inspections

New fee—private rental of Rosselli ballfield $100 w/out lights or $150 w/lights

Propose to keep parking rate at $2.75/hr for larger beach lots

Proposed Tax Increases/Decrease

Sewer—Rate study performed— Requires 6% Increase in Revenue = 10% Base Rate &

4.7% Volumetric Rate Incr (includes pass-through-adjustment for sewer treatment)

Solid Waste—4% Garbage Fee, -10% decreased Residential Recycling Fee

Stormwater—10% Fee Increase

Proposed Fee Schedule Increases

.10 mil increase to increase the commitment from .30 to .40 mills for Causeway/bridge

Business Tax for FY 2021—Payment Relief Program ($75k)

Original Revised Proposed Original Revised

Budget Budget Budget % %

Fund FY 2020 FY 2020 FY 2021 Change Change

General Fund 14,392,898$ 21,762,803$ 16,061,136$ 12% -26%

Penny for Pinellas 994,176 1,996,673 953,126 -4% -52%

County Gas Tax 211,995 578,148 100,000 -53% -83%

Transportation Trust 340 22,199 12,845 3678% -42%

Police Forfeiture 2,005 2,005 0 -100% -100%

Building Fund 963,488 1,071,861 1,124,855 17% 5%

Debt Service 0 55,938 887,155 1486%

Capital/Gulf Blvd Undergrounding 0 452,371 28,293 -94%

Capital/City Hall Remodel 0 1,578,855 0 -100%

Wastewater 4,482,293 6,487,063 5,585,398 25% -14%

Solid Waste 2,151,152 2,437,514 2,021,396 -6% -17%

Stormwater 1,564,135 2,012,398 2,052,538 31% 2%

Total All Funds Budget 24,762,481$ 38,457,827$ 28,826,742$ 16% -25%

Expenditures by Category

Personnel 9,918,465$ 9,939,245$ 10,083,040$ 2% 1%

Operating 8,963,060 9,291,483 9,329,741 4% 0.4%

Capital & CIP Projects 4,981,085 16,694,935 7,145,068 43% -57%

Debt Svc/Other/Contingency 899,871 897,371 1,381,738 54% 54%

Transfers to other funds 0 1,634,793 887,155 -46%

Total Budget 24,762,481$ 38,457,827$ 28,826,742$ 16% -25%

All Funds Budget Summary

########### ################

$2,330,629 ################

$2,513,851 ################

2,042,223 ################

########### ################

2,646,720 ################

Personnel Costs52%

Operating Expenses21%

Capital21%

Other1%

Transfers to other Funds5%

Personnel Costs

Operating Expenses

Capital

Other

Transfers to otherFunds

FY 2021 General Fund Budget by Expenditure Category

0

0.5

1

1.5

2

2.5

3

3.5

4

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

City of Treasure Island Millage Rate 10-Yr History

General Operating Millage Replacement Revenue for Debt

Bridge Replacement & Renewal Millage Facilities Replacement & Renewal Revenue

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$9,000,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Treasure Island Property Taxes Levied versus Millage Rate 10-Yr History

General Operating Millage Replacement Revenue for Debt

Bridge Replacement & Renewal Millage Facilities Replacement & Renewal Revenue

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

Actual 2016 Actual 2017 Actual 2018 Actual 2019 ProjectedActual 2020

Budget 2021 Budget 2022 Budget 2023 Budget 2024 Budget 2025

Expenditures Fund Balance

General Fund Expenditures and Unassigned Fund Balances as a percentage of recurring expenditures

11%15%27% 33% 19% 21%28%27% 29% 16%

$1,654,513

$1,493,151

$1,318,742 $1,272,175 $1,244,977

$1,300,699 $1,389,610

$1,487,100

$1,595,023

$1,733,489

$1,851,914

$1,993,656

$2,166,000

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

City of Treasure Island Taxable Value History (in 000's)

In 2013 there was a 38% cumulative decline in Tax Base Values over 5-yr

0.0000

1.0000

2.0000

3.0000

4.0000

5.0000

6.0000

7.0000

FY 2020 Millage Rates

Millage Rate Comparison

2.2670 2.1693

0.5261 0.5261

0.4000 0.5000

0.10000.2372 0.30150.1139 0.14250.0687

0.0735

0.0000

0.5000

1.0000

1.5000

2.0000

2.5000

3.0000

3.5000

4.0000

4.5000

FY 2021 Proposed FY 2025

Library Contribution Transit Alternative vs PSTA Millage Causeway & Bridges Operating Only

Facilities Assignment Bridge Commitment Replacement Revenue for Debt

General Operating Millage

Proposed Millage Rate Breakdown - A Look Ahead 5 Years

.1 mil increase in bridge committment

0.10000.0815 is

Causeway related

3.8129Mills

3.7129Mills

2.03001.8570 1.8887 2.0098 1.9978 2.0234 2.1184 2.1333 2.2243 2.2670

0.4500

0.4500 0.45000.4500 0.4500 0.4500

0.4500 0.45000.5261 0.5261

0.10000.1000 0.1000 0.1000

0.1000 0.2000

0.30000.4000

0.10000.1000 0.1000 0.1000

0.10000.1000

0.10000.1000

0.43680.5679

0.5503 0.4318 0.4472 0.4184 0.33040.3186

0.28220.2372

0.1472 0.1745

0.1641 0.1604 0.1598 0.1575 0.15490.1563

0.10760.1139

0.0728 0.0874

0.0837 0.0848 0.0821 0.0875 0.08300.0786

0.07260.0687

0.0000

0.5000

1.0000

1.5000

2.0000

2.5000

3.0000

3.5000

4.0000

FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021

Library Contribution Transit Alternative vs PSTA MillageCauseway & Bridges Operating Only Facilities AssignmentBridge Commitment Replacement Revenue for DebtGeneral Operating Millage

Millage Rate 10-Yr Breakdown to include operating components

3.1368 Mills

3.3368 Mills

3.3368 Mills

3.3368 Mills

3.3368 Mills

3.3368 Mills

3.6129Mills

3.7129 Mills3.4368

Mills

0.6372 is Causeway

related

3.1368Mills

Millage Taxable Difference

Fiscal Year Rate Value % Change Tax Levy From Prior Yr

FY 2011 2.6868 1,318,741,517 -11.68% $3,543,195 (468,603)

FY 2012 3.1368 1,272,175,299 -3.53% $3,990,559 447,365

FY 2013 3.1368 1,244,977,194 -2.14% $3,905,244 (85,315)

FY 2014 3.3368 1,300,698,703 4.48% $4,340,171 434,927

FY 2015 3.3368 1,389,609,958 6.84% $4,636,851 296,679

FY 2016 3.3368 1,487,100,050 7.02% $4,962,155 325,305

FY 2017 3.3368 1,595,023,183 7.26% $5,322,273 360,118

FY 2018 3.3368 1,733,489,438 8.68% $5,784,308 462,034

FY 2019 3.4368 1,851,913,681 6.83% $6,364,657 580,349

FY 2020 3.6129 1,993,655,565 7.65% $7,202,878 838,221

Rolled Back Millage Rate FY2021 3.4255 2,116,000,046 6.14% $7,248,358 45,480

Majority Vote Maximum Millage Rate FY2021 3.5358 2,116,000,046 6.14% $7,481,753 278,875

Same Rate as prior Year 3.6129 2,116,000,046 6.14% $7,644,897 442,018

Proposed Milage Rate FY2021 3.7129 2,116,000,046 6.14% $7,856,497 653,618

City of Treasure Island

Millage Rate Chart

3.4255Rolled Back

Rate

3.7129Proposed

Millage Rate

3.8894110% above Maximum

3.5358Majority

Vote Maximum

Majority Vote 3/5 Super Majority Vote 4/5 Unanimous

Millage Rate Impact to property taxes

Millage Assessed Taxable Tax Annual Monthly

$300,000 Homesteaded Home Rate Value Value Amount Difference Difference

FY 2020 3.6129 300,000 250,000 $903

Rolled Back FY2021 3.4255 306,900 256,900 $880 ($23) ($2)

Same Rate as prior Year 3.6129 306,900 256,900 $928 $25 $2

Proposed FY 2021 3.7129 306,900 256,900 $954 $51 $4

Millage Assessed Taxable Tax Annual Monthly

$500,000 Homesteaded Home Rate Value Value Amount Difference Difference

FY 2020 3.6129 500,000 450,000 $1,626

Rolled Back FY2021 3.4255 511,500 461,500 $1,581 ($45) ($4)

Same Rate as prior Year 3.6129 511,500 461,500 $1,667 $42 $3

Proposed FY 2021 3.7129 511,500 461,500 $1,714 $88 $7

Millage Assessed Taxable Tax Annual Monthly

$500,000 Non-Homesteaded Rate Value Value Amount Difference Difference

FY 2020 3.6129 500,000 500,000 $1,806

Rolled Back FY2021 3.4255 511,500 511,500 $1,752 ($54) ($5)

Same Rate as prior Year 3.6129 511,500 511,500 $1,848 $42 $3

Proposed FY 2021 3.7129 511,500 511,500 $1,899 $93 $8

Millage Assessed Taxable Tax Annual Monthly

$3,000,000 Non-Homesteaded Rate Value Value Amount Difference Difference

FY 2020 3.6129 3,000,000 3,000,000 $10,839

Rolled Back FY2021 3.4255 3,069,000 3,069,000 $10,513 ($326) ($27)

Same Rate as prior Year 3.6129 3,069,000 3,069,000 $11,088 $249 $21

Proposed FY 2021 3.7129 3,069,000 3,069,000 $11,395 $556 $46

Treasure Island 20¢ County 30¢ School 37¢

Emergency Medical Services 5¢

Southwest Florida Water Management District 2¢

Health & Pinellas Planning Council .6¢

Your Property Tax Bill and where it goes 17.6649 Mills - Current Year

Juvenile Welfare Board 5¢

Questions?