The URL can be used to link to this page

2017-09-05 Regular Meeting & 1st Budget PHCITY OF OKEECHOBEE SEPTEMBER 5, 2017, REGULAR CITY COUNCIL MEETING AND FIRST BUDGET PUBLIC HEARING 55 SE 3RD AVENUE * COUNCIL CHAMBERS * OKEECHOBEE, FL 34974 SUMMARY OF COUNCIL ACTION PAGE 1 OF 12 II AGENDA II COUNCIL ACTION - DISCUSSION - VOTE II CALL TO ORDER - Mayor September 5, 2017, City Council Regular Meeting, 6:00 P.M. II. OPENING CEREMONIES: Invocation to be given by Mayor Watford; Pledge of Allegiance led by Mayor Watford. III. MAYOR, COUNCIL AND STAFF ATTENDANCE - City Clerk Mayor Dowling R. Watford, Jr. Council Member Noel A. Chandler Council Member Monica M. Clark Council Member Mike O'Connor Council Member Gary Ritter City Attorney John R. Cook City Administrator Marcos Montes De Oca City Clerk Lane Gamiotea Deputy City Clerk Bobbie Jenkins Fire Chief Herb Smith Police Chief Bob Peterson Public Works Director David Allen Finance Director India Riedel IV. AGENDA AND PUBLIC COMMENTS - Mayor A. Requests for the addition, deferral or withdrawal of items on today's agenda. B. Public participation for any issues not on the agenda - Agenda Item Form or Comment Card is required. Citizen comments are limited to 3 minutes per speaker unless otherwise approved by the Mayor. Mayor Watford called the September 5, 2017, Regular City Council Meeting to order at 6:00 P.M. A moment of silence was observed in honor of Administrator MontesDeOca's father, who recently passed away prior to the invocation offered by Mayor Watford, who then also led the Pledge of Allegiance City Clerk Gamiotea called the roll: Present Present Present Present Present Present Present Present Present Present (entered Chambers at 6:15 P.M., attending a meeting at the Emergency Operations Center) Present Present Present Mayor Watford asked whether there were any additions, deferrals, or withdrawals on today's agenda. Items V. Proclamations and Presentations "C" and T" were deferred to the September 19, 2017, meeting. New Business Item "F" was added to conduct an Emergency Public Hearing for proposed Ordinance No. 1159. Mayor Watford opened the floor for public comment on matters not on the agenda; there were none. Administrator MontesDeOca expressed his appreciation to the City Family for their kindness offered during the passing of his father. 199 200 SEPTEMBER 5, 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 2 OF 12 AGENDA V. PROCLAMATIONS AND PRESENTATIONS - Mayor A. Proclaim September 21, 2017 as "Big Lake Interact Club Day of Peace." B. Proclaim the week of September 17 through 23, 2017 at "National (`nncli4i ifinn Ill/Dolt " vviwuiu uvii vv. . n. C. Proclaim the month of September 2017 as "Hunger Action Month." D. Proclaim the month of September 2017 as "National Suicide Prevention Month." COUNCIL ACTION - DISCUSSION - VOTE Mayor Watford proclaimed September 21, 2017, as "Big Lake Interact Club Day of Peace." The proclamation was presented to Rotary Past District Governor Mr. Eric Gordon, Rotary President Mr. Tod B Hardacre, Mrs. Donna Gaiser, Past Rotary President, Big Lake Interact Club President Makaya Whitehead, student club members, and local Rotary Club members. The document was read into the record as follows: "Whereas, the Big Lake Interact Club, founded on April 22, 2017, in Okeechobee, Florida is a community based organization sponsored by the Rotary Club of Okeechobee comprised and lead by students ages 12-18; and Whereas, the Big Lake Interact Club works to uphold the ideals of peace and understanding through community service and cooperation with the Rotary Club of Okeechobee; and Whereas, the issue of peace embraces the deepest hopes of all people and remains humanity's guiding inspiration; and Whereas, the City Council of Okeechobee recognizes Big Lake Interact Club's service to the community of Okeechobee; and Whereas, there is support within our city for the participation in service projects and youth empowerment. Now, Therefore, 1, Dowling R. Watford, Jr., by virtue of the authority vested in me as Mayor of the City of Okeechobee, Florida, do hereby proclaim September 21, 2017, as the `BIG LAKE INTERACT CLUB DAY OF PEACE' and urge all government departments and agencies, organizations, schools, places of worship and individuals in our city to commemorate, in an appropriate manner, the Big Lake Interact Day of Peace." Mayor Watford proclaimed the week of September 17 through 23, 2017, as "National Constitution Week." The nrnrimmnfinn Ulnc nmconntart to NArc I otter Inrrinn Mc I nrni (;roan anti AArc Riithia Pinnin of tha naiinhtar¢ of the American Revolution. The document was read into the record as follows: "Whereas, September 17, 2017, marks the two hundred thirtieth anniversary of the drafting of the Constitution of the United States of America by the Constitutional Convention; and Whereas, it is fitting and proper to accord official recognition to this magnificent document and its memorable anniversary; and to the patriotic celebrations which will commemorate the occasion; and Whereas, Public Law 915 guarantees the issuing of a proclamation each year by the President of the United States of America designating September 17 through 23 as Constitution Week. Now Therefore,1, Dowling R. Watford, Jr., by virtue of the authority vested in me as Mayor of the City of Okeechobee, Florida, do hereby proclaim the week of September 17 through 23, 2017, as 'NATIONAL CONSTITUTION WEEK' in the City of Okeechobee, and ask our citizens to reaffirm the ideals that the Framers of the Constitution had in 1787 by vigilantly protecting the freedoms guaranteed to us through this guardian of our liberties, remembering that lost rights may never be regained." The Hunger Action Month proclamation was deferred to the September 19, 2017, meeting. The National Suicide Prevention Month proclamation was deferred to the September 19, 2017, meeting. SEPTEMBER 5, 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 3 OF 12 AGENDA COUNCIL ACTION - DISCUSSION - VOTE VI. MINUTES - City Clerk A. Motion to dispense with the reading and approve the Summary of Council Council Member O'Connor moved to dispense with the reading and approve the Summary of Council Action for the Action for the July 18, 2017, Regular Meeting and the August 1, 2017, July 18, 2017, regular meeting and the August 15, 2017, regular meeting and budget workshop; seconded by Council Special Meeting minutes. Member Clark. There was no discussion on this item. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. VII. NEW BUSINESS A. Motion to approve a contribution of $8,200.00 from the Chamber of Council Member O'Connor moved to accept the $8,200.00 monetary contribution from the Chamber of Commerce Commerce Leadership Class to the City of Okeechobee with the request 2017 Leadership Class, and approve 50 percent matching funds from the City, for the purchase of picnic tables to of 50 percent matching funds by the City of Okeechobee for the be placed in the downtown area parks (FLAGLER PARK); seconded by Council Member Ritter. purchase of picnic tables to be placed in the downtown area parks (FLAGLER PARK) - Melisa Jahner, Leadership Class President. Mrs. Melisa Jahner, representing the 2017 Leadership Class, and accompanied with classmates City Police Major Hagan and Lieutenant Bernst, and Chamber Vice President Terry Burroughs, provided information on how the project came to fruition and their fundraiser. She also announced this includes a new chiki but for Park 2 (Block L of FLAGLER PARK) in collaboration with the Seminole Tribe of Florida. Administrator MontesDeOca noted the matching funds would be expended from the 2016-17 Fiscal Year (FY) budget. The Mayor and City Council expressed their appreciation to the Leadership Class for this generous donation to improve the downtown parks. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. B. Motion to approve the Fourth Amendment to Inter -local Agreement As explained at the July 18, 2017, City Council meeting, when the preliminary amendments were approved, they were creating the Okeechobee Utility Authority (OUA) between Okeechobee forwarded to Attorney Michael Minton for preparation of an official document amending the Inter -local Agreement. County and the City of Okeechobee - City Administrator (Exhibit 1). Motion and second by Council Members Chandler and O'Connor to approve the Fourth Amendment to the Inter -local Agreement between the Board of County Commission and the City creating the Okeechobee Utility Authority (OUA), as presented and provided below: Paragraph 4.17 of Article IV — Authority Board — is hereby deleted in its entirety (and reads as follows: The Authority BGard to be least report of its iRGluding all matters shall cause made at ORGe eaGh year a Gernprehensive aGtiVitieS, Interest finaRG4 Copies be PFORGipal and FeqHiFeMeRts and an audited annual statement. Of SUGh reports shall .) and a new Paragraph 4.17 replaces it as follows: 201 SEPTEMBER 5, 2017 - REGULAR MEETING 8L FIRST BUDGET PUBLIC HEARING - PAGE 4 OF 12 20 AGENDA COUNCIL ACTION - DISCUSSION - VOTE VII. NEW BUSINESS CONTINUED B. Motion to approve the Fourth Amendment to Inter -local Agreement creating the OUA between Okeechobee County and the City continued. C. Motion to approve an Inter -local Agreement between Okeechobee County and the City of Okeechobee regarding Gas Tax - City Administrator (Exhibit 2). The four (4) members of the Authority Board appointed by the County and City shall then by a simple majority vote, appoint a fifth member of the Authority Board and one (1) alternate representative who may attend all meetings of the Authority Board and shall have the authority to vote in the absence of said fifth member; provided however for so long as the service area encompasses a portion of Glades County, said fifth member and the alternate for that member, shall be a resident(s) in Glades County service area. The following paragraphs were added to Article IV: Paragraph 4.18: The Authority Board shall cause to develop and maintain a rolling three (3) strategic plan which includes goals and objectives for the following strategies or components: financial, workforce, fleet management infrastructure asset management and best practices operational excellence and customer service. This plan will be presented annually to both County and City by their appointed members on the Authority Board. Paragraph 4.19: The Authority Board shall ensure all construction of new or the maintenance of existing Water and Wastewater System are coordinated with County of City Public Works Departments ensuring roads and drainage right of ways are fully restored after the completion of work. Paragraph 4.20: The Authority Board may utilize the Okeechobee Board of County Commissioners chamber to ,.. -rtl- _4; :II 4,_ _. ;A f- .J..I., ...d -A ,+-A +_ fk_ A..+k-,;+.. Dn A'n UUIIUUL L ally IIICCUIIgJ. I IIC IIIeCUIIgJ VVIII UC dl d IIIInHIIUIII VIUCU Ldpe UCIdyCU aIIU pUJLGU LU UIU nUUIUIRy UUU1U J website for the public providing the necessary means of transparency. The County will provide the Commissioner Chambers and associated technical support at no cost to the Authority Board. Paragraph 4.21: Both the County and City reserve the right to remove and promptly replace any one of their appointed Authority Board member(s) and/or their appointed Alternate. Should a member of the Authority Board be removed, as provided herein the applicable Alternate shall serve until that Authority Board member has been replaced. The replacement of an Authority Board member(s) and/or an apDointed Alternate will proceed as Drescribed in Paragraph 4.2, Paragraph 4.3 or 4.4, as applicable. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. Motion and second by Council Members Clark and Ritter to approve an Inter -local Agreement with Okeechobee County regarding the Local Option Gas Tax (share of revenue proceeds for the 2-Cent, 4-Cent, 5-Cent, and 9-Cent). SEPTEMBER 5. 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 5 OF 12 203 AGENDA VII. NEW BUSINESS CONTINUED C. Motion to approve an Inter -local Agreement between Okeechobee County and the City of Okeechobee regarding Gas Tax continued. D. Motion to approve transferring all dollars in the General Fund, Capital Fund, and Public Facility Fund to the Florida Prime, "Local Government Investment Pool", excluding 120 days of budgeted expenses in each identified fund, based on each fiscal year's budget in the month of October - City Administrator and Finance Director. E. Motion to approve renewal of Property and Casualty Insurance coverages with the Public Risk Management (PRM) of Florida and continuation of a two-year coverage agreement with an effective date of October 1, 2017 - Finance Director (Exhibit 3). COUNCIL ACTION - DISCUSSION - VOTE Every ten years the City and County are required to address the percentage shares of the revenues from these specific local option gas taxes. The percentage shares are the same as approved in 2008. This agreement provides that from January 1, 2018, through December 31, 2027, the 2-cent, 4-cent, and 5-cent Local Option Gas Tax proceeds shall be distributed with 19.34 percent to the City and 80.66 percent to the County. However, 100 percent of the ninth -cent Local Option Gas Tax proceeds will be distributed to the County. The Board of County Commission will also be required to address these local option gas taxes by County ordinance. VOTE: WATFORD — YEA CHANDLER —YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. Council Member O'Connor moved to approve transferring all dollars in the General Fund, Capital Improvement Projects Fund, and the Public Facility Improvements Fund to the Florida Prime "Local Government Investment Pool", excluding 120-days of budgeted expenses in each identified fund, based on each fiscal year's budget in the month of October; seconded by Council Member Chandler. A memorandum from Administrator MontesDeOca and Finance Director Riedel was distributed at the meeting offering excerpts of literature as background information of the Florida Prime (Local Government Investment Pool). City Staff is recommending the change as the current rate of return the City is receiving on mutual funds is less than one percent and the Florida Prime fund has a higher rate, as well as extensive oversight protection. Finance Director confirmed approximately $7,000,000.00 would be invested in this plan. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. Motion and second by Council Members Clark and Ritter to approve a two-year renewal of the Property and Casualty Insurance with Public Risk Management of Florida, Inc., with an effective date of October 1, 2017. Differences in premium rates from 2016-17 FY were provided. The Property and Crime premium portion of the policy decreased 5 percent from $54,866.00 to $52,123.00. The General Liability, Automobile Liability, Errors and Omission, Law Enforcement Liability, Excess Liability premium increased 4 percent, from $88,619.00 to $92,163.00. Workers Compensation increased 8.8 percent, from $122,374.00 to $133,147,00. The Member Participation Credit decreased from $10,255.00 to $5,440.00. Cyber Liability is included at no charge. The overall premium for the 2017-18 FY is $271,994.00 (a 6.4 percent increase), mostly due to recent legislative action. A two-year contract is being requested to lock in policy premiums, excluding workers compensation as it is based on payroll figures. 204 SEPTEMBER 5, 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 6 OF 12 AGENDA VII. NEW BUSINESS CONTINUED E. Motion to approve renewal of Property and Casualty Insurance coverages with the PRM of Florida and continuation of a two-year coverage agreement with an effective date of October 1, 2017, continued. ITEM ADDED TO AGENDA: EMERGENCY PUBLIC HEARING F.1.a) Motion to read proposed Emergency Ordinance No. 1159 by title only - City Attorney (Exhibit 6). b) Vote on motion to read by title only. c) City Attorney to read proposed Ordinance No. 1159 by title only 2.a) Motion to adopt proposed Ordinance No. 1159. b) Public comments and discussion. COUNCIL ACTION - DISCUSSION - VOTE VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. MAYOR WATFORD OPENED THE EMERGENCY PUBLIC HEARING AT 6:39 P.M. Motion and second by Council Members Ritter and O'Connor to read proposed emergency Ordinance No. 1159 by title only, authorizing the Police Chief to serve as the City's Emergency Management Official and impose necessary safety declarations due to the impeding threat of Hurricane Irma. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. Attorney Cook read proposed Ordinance No. 1159 by title only as follows: "AN EMERGENCY ORDINANCE ENACTED BY THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA TO ACCEPT THE CHIEF OF POLICE RECOMMENDATION TO EXTEND DECLARATION OF EMERGENCY AS PROVIDED IN FLORIDA S H101E 07V; PROVIDING FOR AN EXTCIYSIVIV VF THE 72-HOUR UFkiLARATIVIV, PRVVIDIIYG FVR DECLARATION TO CONTINUE FOR INDEFINITE PERIOD OF TIME AS DEEMED APPROPRIATE BY THE CHIEF OF POLICE AS STATUTORILY DESIGNATED EMERGENCY MANAGEMENT OFFICIAL FOR THE CITY OF OKEECHOBEE; PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE." Council Member O'Connor moved to adopt proposed Ordinance No. 1159; seconded by Council Member Ritter. Ordinance No. 1159 provides for the Chief of Police to be the designated Emergency Management Official for the City, and provides him with the authority to enact a state of emergency within the municipal boundaries of the City for a continuous period of 72-hours, and extended by action of the City Council. For the duration of the declared state of emergency or extension, no person or entity shall sell, or offer for sale, any firearm of any description or ammunition; and no person shall intentionally possess or display any firearm, except an authorized law enforcement officer or person in the military service acting in the official performance of his or her duty. The Police Chief may enact a curfew restricting pedestrian and vehicular traffic, set time periods for the sale or possession of alcoholic beverages, order the closing of places of public assemblage, including commercial businesses, and prohibit or restrict the sale or possession of gasoline or other flammable substance. SEPTEMBER 5.2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 7 OF 12 205 II AGENDA II COUNCIL ACTION - DISCUSSION - VOTE II VII. NEW BUSINESS/EMERGENCY PUBLIC HEARING CONTINUED F.2.b) Public comments and discussion for proposed Emergency Ordinance No. 1159 continued. c) Vote on motion. CLOSE EMERGENCY PUBLIC HEARING - Mayor VIII. PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES - Mayor A. Mayor announces that the purpose of this Public Hearing is to consider the first reading of ordinances for the proposed Millage Rate levy and proposed Budget for Fiscal Year (FY) 2017-18. B. Mayor announces that the proposed Millage Rate levy represents 5.38 percent more than the roll -back rate computed pursuant to Florida Statute 200.065(1). C.1.a) Motion to read proposed Ordinance No. 1157 by title only and set September 19, 2017, at 6:00 P.M. as a final Public Hearing date, levying a Millage Date of 7.9932 for FY 2017-18 - City Attorney (Exhibit 4). Mayor Watford yielded the floor to Okeechobee County Emergency Operations Center Director Mitch Smeykal, who discussed the projected path of Hurricane Irma, an extremely large, Category 5 storm, forecasted to make Florida landfall between late Saturday, September 9, 2017, to early Monday, September 11, 2017. An emergency operations meeting will be held Wednesday, September 6, 2017, at 9:00 A.M. Due to the size of the storm, Governor Scott has already issued a state of emergency for all Florida counties. Mandatory evacuations have not been issued for Okeechobee County at this time. School closures will be forthcoming, as they will be needed for local shelters. All local governmental agencies are to begin their preparedness plan. Council Member Ritter asked Mr. Smeykal what communication he had been having with the South Florida Water Management District and the Army Corps of Engineers representatives. Both provided information based on conversations they had with these two groups. There is concern to lower Lake Okeechobee's depth; it is currently at 13.7 feet. The Army Corps of Engineers is predicting three to five feet of water flowing into Lake Okeechobee from Hurricane Irma. Concerns are compounded by the high levels of Lake Kissimmee and its tributary waterways, which flows into Lake Okeechobee. Mayor Watford thanked Mr. Smeykal for providing the Council with information. WATFORD — YEA O'CONNOR — YEA VOTE: CHANDLER — YEA RITTER — YEA CLARK — YEA MOTION CARRIED. MAYOR WATFORD CLOSED THE EMERGENCY PUBLIC HEARING AT 6:47 P.M. MAYOR WATFORD OPENED THE FIRST BUDGET PUBLIC HEARING AT 6:47 P.M. Mayor Watford announced that the purpose of this Public Hearing is to consider the first reading of ordinances for the proposed Millage Rate levy and proposed Budget for FY 2017-18. Mayor Watford announced that the proposed Millage Rate levy represents a 5.38 percent more than the roll -back rate computed pursuant to F.S. 200.065(1). Council Member O'Connor moved to read proposed Ordinance No. 1157 by title only, and set September 19, 2017, at 6:00 P.M. as a final Public Hearing date, levying a Millage Rate of 7.9932 for FY 2017-18; seconded by Council Member Ritter. 206 SEPTEMBER 5, 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 8 OF 12 I_[cl4 `I0_3 VIII. FIRST BUDGET PUBLIC HEARING CONTINUED C.1.16) Vote on motion to read by title only and set final public hearing date. c) City Attorney to read proposed Ordinance No. 1157 by title only 2.a) Motion to approve the first reading of proposed Ordinance No. 1157 b) Public comments and discussion. c) Vote on motion. D.1.a) Motion to read proposed Ordinance No. 1158 by title only and set September 19, 2017, at 6:00 P.M. as a final Public Hearing date, adopting an annual Budget for FY 2017-18 - City Attorney (Exhibit 5). b) Vote on motion to read by title only and set final public hearing date. COUNCIL ACTION - DISCUSSION - VOTE VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. Attorney Cook read proposed Ordinance No. 1157 by title only as follows: "AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA, ADOPTING A MILLAGE RATE TO BE LEVIED ON ALL REAL AND TANGIBLE PERSONAL PROPERTY WITHIN THE CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; PROVIDING THAT 7.9932 PER THOUSAND DOLLAR VALUATION SHALL NOT BE LEVIED ON HOMESTEAD PROPERTY; THAT 7.9932 VALUATION SHALL BE USED FOR GENERAL CITY PURPOSES; THAT SAID MILLAGE RATE IS 5.38 PERCENT (5.38%) MORE THAN THE ROLL -BACK RATE COMPUTED IN ACCORDANCE WITH FLORIDA STATUTE 200.065 (1); PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE." Motion and second by Council Members Ritter and O'Connor to approve the first reading of proposed Ordinance No. 1157. Mayor Watford asked whether there were any questions or comments from the public. There were none. The Millage Rate presented is the same rate as FY 2016-17. There being no discussion, Mayor Watford called for a vote. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. Council Member Ritter moved to read proposed Ordinance No. 1158 by title only, and set September 19, 2017, at 6:00 P.M. as a final Public Hearing date, adopting an annual Budget for FY 2017-18; seconded by Council Member O'Connor. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR—YEA RITTER — YEA MOTION CARRIED. SEPTEMBER 5, 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 9 OF 12 207 11 AGENDA II COUNCIL ACTION - DISCUSSION - VOTE II VIII. FIRST BUDGET PUBLIC HEARING CONTINUED D.1.c) City Attorney to read proposed Ordinance No. 1158 by title only 2.a) Motion to approve the first reading of proposed Ordinance No. 1158 b) Public comments and discussion. Attorney Cook read proposed Ordinance No. 1158 by title only as follows: "AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE CITY OF OKEECHOBEE, FLORIDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; WHICH BUDGET SETS FORTH GENERAL FUND REVENUES OF $9,511,496.00, TRANSFERS -IN OF $885,453.00, AND EXPENDITURES OF $6,605,790.00, LEAVING A FUND BALANCE OF $3,791,159.00; PUBLIC FACILITIES IMPROVEMENT FUND REVENUES OF $1,464,908.00, EXPENDITURES OF $777,537.00 AND TRANSFERS -OUT OF $350,000.00, LEAVING A FUND BALANCE OF $337,371.00; OTHER GRANTS FUND REVENUES OF $528,292.00, TRANSFERS -IN OF $42,610.00, AND EXPENDITURES OF $570,902.00, LEAVING A FUND BALANCE OF $0.00; APPROPRIATIONS GRANT FUND REVENUES OF $219,450.00, EXPENDITURES OF $219,450.00, LEAVING A FUND BALANCE OF $0.00; CAPITAL IMPROVEMENT PROJECTS FUND REVENUES OF $4,364,380.00, EXPENDITURES OF $780,985.00, AND TRANSFERS -OUT OF $588,513.00, LEAVING A FUND BALANCE OF $2,994,882.00; LAW ENFORCEMENT SPECIAL FUND REVENUES OF $4,811.00, AND EXPENDITURES OF $1,750.00, LEAVING A FUND BALANCE OF $3,061.00; PROVIDING FOR CONFLICT, PROVIDING FOR SEVERABILITY, AND PROVIDING FOR AN EFFECTIVE DATE." Motion and second by Council Members O'Connor and Ritter to approve the first reading of proposed Ordinance No. 1158. Mayor Watford asked whether there were any questions or comments from the public. Mrs. Jennifer Tewkkbury, Executive Director of the Economic Council of Okeechobee, explained she had reviewed the prior three years' audited financial statements and noticed a trend of increased expenses with the use of reserves to balance the budget. She asked how the City planned on recouping the funds spent on these expenses and prevent this trend from continuing. Mayor Watford acknowledged the trend, noting the City was well aware of this and is making every effort to maintain or slightly decrease expenses during the planning stage of the Budget process. He noted several were one-time expenses such as the purchase of a new fire truck in FY 2016-17 for $450,000.00, and the development of the Centennial Park coverina multiple years were included. Council Member Ritter added the City has been fortunate to have reserves in order to provide pay increases to the employees, continue the level of service for citizens, and spend money on projects that benefit the community. Property and sales tax revenues have started to increase for the first time in a few years. City Staff is working diligently on creating future trends where revenues and expenditures will be even. During the discussion, Council Member Clark voiced her concerns with the trend of using reserves to cover expenditures, adding the property values will not increase fast enough to keep the current pace. The increased operating expenditures should be reflected in the Millage Rate; utilizing reserves to fund Capital Improvement projects is appropriate. Council Member Ritter suggested the City come up with a five-year strategic plan and provide it to the Economic Council, Mrs. Tewksbury liked the suggestion and thanked the Mayor and Council for their time. K0 SEPTEMBER 5, 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 10 OF 12 AGENDA VIII. FIRST BUDGET PUBLIC HEARING CONTINUED D.2.b) Public comments and discussion on proposed Ordinance No. 1158 continued. COUNCIL ACTION - DISCUSSION - VOTE The General Fund Budget Summary lists the beginning Fund Balance as $4,189,162.00 (including $398,002.00 that is anticipated to roll forward from the current year); $6,605,789.00 in Revenues projected, and consist of: $2,075,803.00, in Ad Valorem Taxes; $679,000.00 in Other Fees (which covers utility taxes, fire and casualty insurance premium taxes, public service fees, and business tax receipts); $1,540,385.00 in Intergovernmental Revenues (which covers cigarette, alcoholic beverages, half and one -cent taxes, County business tax, communication taxes, firefighters supplement, and mobile home licenses); $973,750.00 in Charges for Current Services (which are fees for building and inspection permits, land development regulations applications and petitions, franchise fees, plan reviews, street/alley closings, public records request, and residential solid waste collection rates); $14,450.00 in Fines, Forfeitures and Penalties (which covers court fines, radio communication fees, law enforcement education, investigation reimbursement, unclaimed evidence, and ordinance violation fines); $1,000.00 in Uses of Money and Property (which includes interest, investment earning, and surplus property); $37,946.00 in Other Revenues (which covers small grants, state maintenance agreements, miscellaneous, code enforcement fines, police accident reports, and capital lease proceeds); $885,453.00 anticipated to be Transferred -In, $535,453.00 from the Capital Improvement Projects Fund and $350,000.00 from the Public Facilities Improvement Fund. The expenditures for each department are listed below The amounts reflected below include the 2.0 percent Cost of Living Allowance (COLA) and other amendments discussed at the Budget Workshop: Proposed Budget for General Fund! 511-Legislative/City Council (pages 4-5) Proposed Budget for General Fund/ 512 Executive/Administration (pages 6-7) Proposed Budget for General Fund/ 2512-Executive/City Clerk (pages 8-9) Proposed Budget for General Fund/ 514-Legal Services (page 10) Total Personnel most: $ 97,106.00 Total Supplies and Other Services: $ 95 690.00 FY 2017/2018 Proposed Total: $ 192,796.00 FY 2016/2017 Amended Budgeted Total: $ 182,699.00 Difference: $ 10,097.00 Total Personnel Cost: $ 176,717.00 Total Supplies and Other Services: $ 27 807.00 FY 201712018 Proposed Total: $ 204,524.00 FY 2016/2017 Amended Budgeted Total: $ 195.34 i 00 Difference: $ 9,183.00 Total Personnel Cost: $ 153,161.00 Total Supplies and Other Services: $ 55,597.00 FY 2017/2018 Proposed Total $ 208,758.00 FY 2016/2017 Amended Budgeted Total: $ 216,170.00 Difference: ($ 7,412.00) FY 201712018 Proposed Total $ 115,760.00 FY 2016/2017 Amended Budgeted Total: $ 75,710.00 Difference: $ 40,050.00 SEPTEMBER 5, 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 11 OF 12 N 11 AGENDA 11 COUNCIL ACTION - DISCUSSION - VOTE II VIII. FIRST BUDGET PUBLIC HEARING CONTINUED D.2.b) Public comments and discussion on proposed Ordinance No. 1158 continued. Proposed Budget for General Fund/ Total Personnel Cost: $ 191,323.00 513-Finance Total Supplies and Other Services: $ 96,307.00 (pages 11-12) FY 2017/2018 Proposed Total $ 287,630.00 FY 2016/2017 Amended Budgeted Total: $ 279,391.00 Difference: $ 8,239.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 105,229,00 519-General Services Total Supplies and Other Services: $ 291,291.00 (pages 13-14) FY 2017/2018 Proposed Total $ 396,520.00 FY 2016/2017 Amended Budgeted Total: $ 375,544.00 Difference: $ 20,976.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 1,951,614.00 521-Police Department Total Supplies and Other Services: $ 334,859.00 (pages 15-16) FY 2017/2018 Proposed Total $ 2,286,473.00 FY 2016/2017 Budgeted Total: $ 2,262,583.00 Difference: $ 23,890.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 1,408,484.00 522-Fire Department Total Supplies and Other Services: $ 260,150.00 (pages 17-18) FY 201712018 Proposed Total $ 1,668,634.00 FY 2016/2017 Budgeted Total: $ 1,587,869.00 Difference: $ 80,765.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 700,215.00 541-Public Works Total Supplies and Other Services: $ 544,460.00 (pages 19-20) FY 201712018 Proposed Total $ 1,244,675.00 FY 2016/2017 Budgeted Total: $ 1,230,079.00 Difference: $ 14,596.00 Public Facility Improvement (Transportation 301) Fund (pages 21-22) listed the Beginning Fund Balance as $620,571.00; Total Revenue Estimates of $844,337,00; Total Expenditures Projected of $777,537.00 plus $350,000.00 to be Transferred -Out to General Fund; leaving a Fund Balance of $337,371,00. Capital Improvements Projects (304) Fund (pages 23-24) Total Beginning Fund Balance is $4,136,380.00; Total Revenues Estimates of $228,000.00; Total Projected Expenditures are $780,985.00 plus $53,060.00 transferred -out to Other Grants Fund and $535,453.00 transferred -out to General Fund; leaving a Fund Balance $2,994,882.00. Other Grant (302) Funds (page 25) Beginning Fund Balance of $312,162.00; FDEP NS018 Grant Revenue $41,130.00; SFWMD #4600003556 Grant Revenue $175,000.00; Transfer -In from Capital from Capital Fund Reserves, $42,610.00; Total Projected Expenditures of $570,902.00; leaving a Fund Balance of $0.00, 210 SEPTEMBER 5, 2017 - REGULAR MEETING & FIRST BUDGET PUBLIC HEARING - PAGE 12 OF 12 AGENDA VIII. FIRST BUDGET PUBLIC HEARING CONTINUED D.2.b) Public comments and discussion on proposed Ordinance No. 1158 continued. c) Vote on motion. CLOSE PUBLIC HEARING FOR FIRST READING OF BUDGET - Mayor IX. ADJOURNMENT - Mayor Please take notice and be advised that when a person decides to appeal any decision made by the City Council with respect to any matter considered at this meeting. he/she may need to insure that a verbatim record of the proceeding is made, which record includes the testimony and evidence upon which the appeal is to be based. City Clerk media are for the sole purpose of backup for official records of the Clerk. ATTEST: 1 Lano Gamiotea,;CMC, City Clerk Dowling R. Wa ord, Jr., Mayor COUNCIL ACTION - DISCUSSION - VOTE Appropriations Grant (307) Funds (page 26) Beginning Fund Balance is $0.00; Appropriation Funds Revenue $209,000.00; Transfer -In from Capital Fund Reserves $10,450.00; Total Projected Expenditures of $219,450.00; leaving a Fund Balance of $0.00. Law Enforcement Special (601) Fund (page 27) Beginning Fund Balance of $4,311.00; Total Estimated Revenues of $500.00; Total Projected Expenditures as $1,750.00; leaving a Fund Balance of $3,061.00. WATFORD — YEA O'CONNOR — YEA VOTE: CHANDLER — YEA RITTER — YEA CLARK — YEA MOTION CARRIED. MAYOR WATFORD CLOSED THE FIRST BUDGET PUBLIC HEARING AT 7:20 P.M. There being no further discussion, nor items on the agenda, Mayor Watford adjourned the meeting at 7:20 P.M. The next regular scheduled meeting is September 19, 2017. CITY OF OKEECHOBEE 55 SE 3RD AVENUE ♦ COUNCIL CHAMBERS ♦ OKEECHOBEE, FL 34974 SEPTEMBER 5, 2017 REGULAR CITY COUNCIL MEETING AND FIRST BUDGET HEARING OFFICIAL AGENDA PAGE 1 OF 3 CALL TO ORDER — Mayor: September 5, 2017, City Council Regular Meeting and First Budget Hearing, 6:00 p.m. II. OPENING CEREMONIES: Invocation Pledge of Allegiance led by Mayor MAYOR, COUNCIL MEMBERS, AND STAFF ATTENDANCE - City Clerk Mayor Dowling R. Watford, Jr. Council Member Noel Chandler Council Member Monica Clark Council Member Mike O'Connor Council Member Gary Ritter Administrator Marcos Montes De Oca Attorney John R. Cook Clerk Lane Gamiotea Deputy Clerk Bobbie Jenkins Fire Chief Herb Smith Police Chief Bob Peterson Public Works Director David Allen Finance Director India Riedel IV. AGENDA AND PUBLIC COMMENTS — Mayor A. Requests for the addition, deferral or withdrawal of items on today's agenda. B. Public participation for any issues not on the agenda — Agenda Item Form or Comment Card is required. Citizen comments are limited to 3 minutes per speaker unless otherwise approved by the Mayor. September 5, 2017 PAGE 2 of 3 V. PRESENTATIONS AND PROCLAMATIONS - Mayor A. Proclaim September 21, 2017 as "Big l,ak,P Interact Club Day of Peace." B. Proclaim the week of September 17 th oug`hA?3, 2017 at "National Constitution Week." Proclaim the month of September 2017 as " ,anger Action Month." D. Proclaim the month of September 2017 as "National Suicide Prevention Month." VI. MINUTES — City Clerk A. Motion to dispense with the reading and approve the Summary of Council Action for the July 18, 2017 regular meeting and the August 15, 2017 regular meeting and budget workshop. VII. NEW BUSINESS A. Motion to approve a contribution of $8,200.00 from the Chamber of Commerce Leadership Class to the City of Okeechobee with the request of 50% matching funds by the City of Okeechobee for the purchase of picnic tables to be placed in the downtown area parks (Flagler Parks) — Melisa Jahner, Leadership Class President. B. Motion to approve the Fourth Amendment to Interlocal Agreement Creating the Okeechobee Utility Authority between Okeechobee County and the City of Okeechobee — City Administrator (Exhibit 1). C. Motion to approve an Interlocal Agreement between Okeechobee County and the City of Okeechobee regarding Gas Tax — City Administrator (Exhibit 2). D. Motion to approve transferring all dollars in the General Fund, Capital Fund, and Public Facility Fund to the Florida Prime, "Local Government Investment Pool", excluding 120 days of budgeted expenses in each identified fund, based on each fiscal year's budget in the month of October - City Administrator and Finance Director E. Motion to approve renewal of Property and Casualty Insurance coverages with the Public Risk Management (PRM) of Florida and continuation of a two-year coverage agreement with an effective date of October 1, 2017 — Finance Director (Exhibit 3). OPEN PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES — Mayor A. Mayor announces that the purpose of this public hearing is to consider the first reading of ordinances for the proposed millage rate levy and proposed budget for fiscal year 2017-2018. B. Mayor announces that the proposed millage rate levy represents 5.38% more than the roll back rate computed pursuant to F.S.200.065 (1). September 5, 2017 PAGE 3 of 3 VIII. PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES CONTINUED — Mayor C.1.a) Motion to read proposed Ordinance No.1157 by title only and set September 19, 2017 at 6:00 P.M. as a final public hearing date, levying a millage rate of 7.9932 for FY 2017/18 — City Attorney (Exhibit 4). b) Vote on motion to read by title only and set final public hearing date. c) City Attorney to read proposed Ordinance No. 1157 by title only. 2.a) Motion to approve the first reading of proposed Ordinance No. 1157. b) Public comments and discussion. c) Vote on motion. D.1.a) Motion to read proposed Ordinance No. 1158 by title only and set September 19, 2017 at 6:00 P.M. as a final public hearing date, adopting an annual budget for FY 2017-18 — City Attorney (Exhibit 5). b) Vote on motion to read by title only and set final public hearing date. c) City Attorney to read proposed Ordinance No.1158 by title only. 2.a) Motion to approve the first reading of proposed Ordinance No. 1158. b) Public comments and discussion. c) Vote on motion. CLOSE PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES — Mayor IX. ADJOURN MEETING — Mayor PLEASE TAKE NOTICE AND BE ADVISED that if any person desires to appeal any decision made by the City Council with respect to any matter considered at this proceeding, such interested person will need a record of the proceeding, and for such purpose may need to ensure a verbatim record of the proceeding is made, which record includes the testimony and evidence upon which the appeal is to be based. City Clerk recordings are for the sole purpose of backup for official records of the Clerk. In accordance with the Americans with Disabilities Act (ADA), any person with a disability as defined by the ADA, that needs special accommodation to participate in this proceeding, contact the City Clerk's Office no later than two business days prior to proceeding, 863-763-3372. BE ADVISED that should you intend to show any document, picture, video or items to the Council in support or opposition to any item on the agenda; a copy of the document, picture, video, or item must be provided to the City Clerk for the City's records. M lvve City of Okeechobee, September 5, 2017 Meeting Minutes taken during the meeting by Lane Gamiotea CALL TO ORDER: Mayor Watford called the Regular City Council Meeting to order on September 5, 2017, at 6:00 P.M. in the Council Chambers, Room 200 located at City Hall, 55 SE 3rd Avenue, Okeechobee, Florida 34974. OPENING CEREMONIES: The invocation was given by Mayor Watford; the Pledge of Allegiance was led by Mayor Watford. MAYOR, COUNCIL MEMBERS AND STAFF ATTENDANCE - City Clerk Mayor Dowling R. Watford, Jr. Present Council Member Noel Chandler Present Council Member Monica Clark Present Council Member Mike O'Connor Present Council Member Gary Ritter Present City Attorney John R. Cook Present City Administrator Marcos MontesDeOca Present City Gierk Lane Gamiotea Present Deputy City Clerk Bobbie Jenkins Present Fire Chief Herb Smith Present (entered Chambers at 6:15 P.M.) Police Chief Bob Peterson Present Public Works Director David Allen Present Finance Director Riedel Present IV. AGENDA AND PUBLIC COMMENTS - Mayor A. Requests for the addition, deferral or withdrawal of items on today's agenda. Mayor Watford asked whether there were any requests for the addition, deferral, or withdrawal of items on today's agenda? Items V. Proclamations and Presentations "C" and "D" were deferred to the September 19th Meeting. Add New Busienss item F Emergency Public Hearing for Ordinance No. 1159. B. Public participation for any issues not on the agenda - Agenda Item Form or Comment Card is required. Citizen comments are limited to 3 minutes per speaker unless otherwise approved by the Mayor. Mayor Watford asked whether there were any comment cards presented for public comment. Administrator MontesDeOca expressed his appreciation to the City Family for their kindness offered during the passing of his father. V. PROCLAMATIONS AND PRESENTATIONS — Mayor A. Proclaim September 21, 2017, as "Big Lake Interact Club Day of Peace." Mayor Watford proclaimed September 21, 2017, as Big Lake Interact Club Day of Peace, by reading the document into the record as follows: "Whereas, the Big Lake Interact Club, founded on April 22, 2017, in Okeechobee, Florida is a community based organization sponsored by the Rotary Club of Okeechobee comprised and lead by students ages 12-18; and Whereas, the Big Lake Interact Club works to uphold the ideals of peace and understanding through community service and cooperation with the Rotary Club of Okeechobee; and Whereas, the issue of peace embraces the deepest hopes of all people and remains humanity's guiding inspiration; and Whereas, the City Council of Okeechobee recognizes Big Lake Interact Club's service to the community of Okeechobee; and Whereas, there is growing support within our city for the participation in service projects and youth empowerment. Now, Therefore, 1, Dowling R. Watford, Jr., by virtue of the authority vested in me as Mayor of the City of Okeechobee, Florida, do hereby proclaim September 21, 2017, as the `Big Lake Interact Club Day of Peace' and urge all government departments and agencies, organizations, schools, places of worship and individuals in our city to commemorate, in an appropriate manner, the Big Lake Interact Day of Peace." Page 1 of 10 The proclamation was presented to: Mr. Tod B Hardacre, MRC Unit Leader, Safety Coordinator, Staff Assistant of the Florida Department of Health of Okeechobee County. Big Lake Interact Club members joined the Mayor. Mycka Whitehouse, president of the club. Rotary sponsored student club. Eric Gordan, Governor. B. Proclaim the week of September 17 through 23, 2017, as "National Constitution Week." Mayor Watford proclaimed the week of September 17 through 23, 2017, as National Constitution Week by reading the document into the record as follows: "Whereas, September 17, 2017, marks the two hundred thirtieth anniversary of the drafting of the Constitution of the United States of America by the Constitutional Convention; and Whereas, it is fitting and proper to accord official recognition to this magnificent document and its memorable anniversary; and to the patriotic celebrations which will commemorate the occasion; and Whereas, Public Law 915 guarantees the issuing of a proclamation each year by the President of the United States of America designating September 17 through 23 as Constitution Week. Now Therefore, 1, Dowling R. Watford, Jr., by virtue of the authority vested in me as Mayor of the City of Okeechobee. Florida; do hereby ,proclaim the week of September 17 through 23, 2017, as `NATIONAL CONSTITUTION WEEK in the City of Okeechobee, and ask our citizens to reaffirm the ideals that the Framers of the Constitution had in 1787 by vigilantly protecting the freedoms guaranteed to us through this guardian of our liberties, remembering that lost rights may never be regained." The proclamation was presented to: Mrs. Letta Jordan, Ms. Lorna Green, and Mrs. Ruthie Pippin of the Daughters of the American Revolution. Mrs. Jordan thanked the City Council for promoting their important event, going into the schools to help teach about the importance of the constitution. C. Proclaim the month of September, 2017 as "Hunger Action Month." Deferred to September 19th Meeting D. Proclaim the month of September, 2017 as "National Suicide Prevention Month." Deferred to September 19tn Meeting VI. MINUTES — City Clerk A. Motion to dispense with the reading and approve the Summary of Council Action for the July 18, 2017, Regular Meeting, and the August 15, 2017, Regular Meeting and Budget Workshop. Council Member O'Connor moved to dispense with the reading and approve the Summary of Council Action for the July 18, 2017, regular meeting and the August 15, 2017, regular meeting and budget workshop; seconded by Council Member Clark. Discussion: none. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. VII. NEW BUSINESS A. Motion to approve a contribution of $8,200.00 from the Chamber of Commerce Leadership Class to the City of Okeechobee with the request of 50% matching funds by the City of Okeechobee for the purchase of picnic tables to be placed in the downtown area parks (Flagler Parks) — Melisa Jahner, Leadership Class President. Council Member O'Connor moved to approve a contribution of $8,200.00 from the Chamber of Commerce Leadership Class to the City, with the request of 50 percent matching funds by the City, for the purchase of picnic tables to be placed in the downtown area parks (FLAGLER PARK); seconded by Council Member Ritter. Page 2 of 10 Discussion: Melisa representing the 2017 Chamber Leadership Class, we came up with this project, raised funds for the project. Asked to match in order to have more tables. Sponsorship of the tables, their names will be on the tables. A new chiki but in Park 2 from the Class. Raised funds through BBQ Ritter thank leadership group and for coming up with the project, wonderful project, look forward to it. Burroughs, Chamber VP City Major Hagan and LT Bernst members of the class. MDO purcure in this years budget. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. B. Motion to approve the Fourth Amendment to Inter -local Agreement Creating the Okeechobee Utility Authority between Okeechobee County and the City of Okeechobee — City Administrator (Exhibit 1). Motion and second by Council Members Chandler and O'Connor to approve the Fourth Amendment to Inter -local Agreement between the Board of County Commission and the City creating the Okeechobee Utility Authority (OUA). Paragraph 4.17 of Article IV — Authority Board — is hereby deleted in its entirety and a new Paragraph 4.17 replaces it as follows: The four (4) members of the Authority Board appointed by the County and City shall then, by a simple majority vote, appoint a fifth member of the Authority Board and one (1) alternate representative who may attend all meetings of the Authority Board and shall have the authority to vote in the absence of said fifth member; provided, however for so long as the service area encompasses a portion of Glades County, said fifth member and the alternate for that member, shall be a resident(s) in Glades County service area. The following paragraphs are hereby added to Article IV: Paragraph 4.18: The Authority Board shall cause to develop and maintain a rolling three (3) strategic plan which includes goals and objectives for the following strategies or components: financial, workforce, fleet management, infrastructure, asset management and best practices, operational excellence and customer service. This plan will be presented annually to both County and City by their appointed members on the Authority Board. Paragraph 4.19: The Authority Board shall ensure all construction of new or the maintenance of existing Water and Wastewater System are coordinated with County of City Public Works Departments ensuring roads and drainage right of ways are fully restored after the completion of work. Paragraph 4.20: The Authority Board may utilize the Okeechobee Board of County Commissioners chamber to conduct any meetings. The meetings will be at a minimum video tape delayed and posted to the Authority Board's website for the public providing the necessary means of transparency. The County will provide the Commissioner Chambers and associated technical support at no cost to the Authority Board. Paragraph 4.21: Both the County and City reserve the right to remove and promptly replace any one of their appointed Authority Board member(s) and/or their appointed Alternate. Should a member of the Authority Board be removed, as provided herein, the applicable Alternate shall serve until that Authority Board member has been replaced. The replacement of an Authority Board member(s) and/or an appointed Alternate will proceed as prescribed in Paragraph 4.2, Paragraph 4.3 or 4.4, as applicable. Discussion: Page 3 of 10 VOTE: WATFORD — YEA CHANDLER — YEA O'CONNOR — YEA RITTER — YEA CLARK — YEA MOTION CARRIED. C. Motion to approve an Inter -local Agreement with Okeechobee County regarding the Gas Tax— City Administrator (Exhibit 2). Motion and second by Council Members Clark and Ritter to approve an Inter -local Agreement with Okeechobee County regarding the Local Option Gas Tax (share of proceeds revenue for the 4-Cent, 2-Cent, 9-Cent, and 5-Cent). From January 1, 2018 through December 31, 2027, the 5-cent, 4-cent, and 2-cent Local Option Gas Tax proceeds shall be distributed as follows: City of Okeechobee 19.34 percent, County of Okeechobee 80.66 percent. From January 1, 2018 through December 31, 2027, the ninth -cent Local Option Gas Tax proceeds shall be distributed as follows: City of Okeechobee 0.00 percent, County of Okeechobee 100.00 percent. Due to section 336.025(1)(d), F.S., by the use of a Dercentaae distribution rather than a fixed sum distribution. this Aareement is deemed to automatically adjust on a yearly basis. 1 his Agreement shall expire upon receipt and disbursement of the December 31, 2027 gas tax revenue or August 31, 2018, whichever date is earlier, unless amended as provided herein. The County shall notify the Florida Department of Revenue of this Inter -local Agreement as provided in Chapter 336, F.S. and shall hold such public hearings as may be necessary to ensure this Agreement is consistent with existing County Ordinances and Resolutions. The Agreement may be amended at any time by written instrument duly adopted and executed by both the County and City and may be terminated provided written notice is provided to the non -terminating party no later than the first day of May of any given year to be effective the first day of January of the following year. The Agreement may be executed in any number of counter parts, each of which shall constitute an original, altogether one and the same instrument. Discussion Ritter item 3 why is it 0%. Watford that was designated for the County only. Why in there then? India required by state law. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. D. Motion to approve transferring all dollars in the General Fund, Capital Fund, and Public Facility Fund to the Florida Prime, "Local Government Investment Pool", excluding 120 days of budgeted expenses in each identified fund, based on each fiscal year's budget in the month of October - City Administrator and Finance Director. Council Member O'Connor moved to approve transferring all dollars in the General Fund, Capital Improvement Projects Fund, and the Public Facility Improvements Fund to the Florida Prime, "Local Government Investment Pool", excluding 120 days of budgeted expenses in each identified fund, based on each fiscal year's budget in the month of October; seconded by Council Member Chandler. A memorandum from Administrator MontesDeOca and Finance Director Riedel was distributed at the meeting offering excerpts of literature as background information of the Florida Prime (Local Governemnt Investment Pool). Most weren't performaning as well after excelling in performance. Cities, Councites and School Boards started withdrawing funds to the point the State put a freeze on it. The City pulled funds as releases were available. MDO — looking at money market funds that aren't performing well. Clark — what other funds available? MDO — we already have the account open, readily available is why. Page 4 of 10 CM ,VOW India — highest rate of return compared to the other accounts that are available. Comfortable wit the oversight than what the others have. Dowling — TCCLG had a small account in there, pretty clear cut decision. Ritter 120 days worth of reserves and what %? India — all except operational reserves, about $7 million. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. E. Motion to approve renewal of Property and Casualty Insurance coverages with the Public Risk Management (PRM) of Florida and continuation of a two-year coverage agreement with an effective date of October 1, 2017 — Finance Director (Exhibit 3). Motion and second by Council Members Clark and Ritter to approve a two year renewal of the Property and Casualty Insurance with Public Risk Manaaement of Florida, Inc. (PRM), with an effective date of October 1, 2017. ("Mayor's packet he received") Property and Crime GL/AL/E&O/LEL & Excess Liability Workers Compensation Member Participation Credit Grand Total Note: Cyber liability is included FY 2016-17 $54,866 FY 2017-18 $52,123 5% decrease FY 2016-17 $88,619 FY 2017-18 $92,163 4% increase FY 2016-17 $122,374 FY 2017-18 $133,147 8.8% increase FY 2016-17 $(10,255) FY 2017-18 $(5,440) FY 2016-17 $255,634 FY 2017-18 $271,994 6.4% increase Discussion: India, overall increase is mostly due to recent Legislative action. Property values up and property costs went down. Asking approve a 2 year agreement, locks in rate that could change based on payroll and value. MDO same rate for two years better planning. Dowling always been very happy with them. VOTE: WATFORD — YEA CHANDLER — YEA O'CONNOR — YEA RITTER — YEA Open Em Public Heiarn 639. Motion and second MO & GR to adopt. Motion to read by title only GR ord 1150 by title only; MO. Vote Motion Carried City Attorney MO/GR moved to adopt proposed Ordinance. CLARK — YEA MOTION CARRIED. Mitch Sm County EOC Director. Still in waiting game on the forcast track, really don't have a good track, 9 am finalize shelter and evacuation. We may get nothing may get hit. Timing of the storm late sat, Sun or Early Monday. Not ordering mandatory evacuation at this time. Voluntary only. Ritter — have you had conversations with SFWMD? At 230, more on their impoundments. Core doing pulse releases want to get the lake down a foot. Ritter sat in on Core & SFWMD call today, Lake Kissimee was above regulation. The lake is at 13.7 now, Core saying get additionaly 3 to 5 feet of water in Lake 0. Agree with the foot don't know if goes up the center of the state can open the gates instead of pulse releases. Page 5 of 10 Don't want to drop the trigger on the schools too soon. If they can maximize the number of days its better for them. Will know more tomorrow at the meeting. One of the few counties getting red cross employees for the shelters. Appreciate Mitch coming in. Police Chief will have the authority to set curfew, and other authodites. 648 close emergency public hearing. Vill. MAYOR WATFORD OPENED THE PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES AT 6:48 P.M. A. Mayor announces that the purpose of this public hearing is to consider the first reading of ordinances for the proposed millage rate levy and proposed budget for fiscal year 2017-2018. Mayor Watford announced that the purpose of this Public Hearing is to consider the first reading of ordinances for the proposed Millage Rate levy and proposed Budget for Fiscal Year (FY) 2017-18. B. Mayor announces that the proposed millage rate levy represents 5.38% more than the roll back rate computed pursuant to F.S.200.065(1). Mayor Watford announced that the proposed Millage Rate levy represents a 5.38 percent more than the roll -back rate computed pursuant to Florida Statute 200.065(1). C.1.a) Motion to read proposed Ordinance No. 1157 by title only and set September 19, 2017 at 6:00 P.M. as a final public hearing date, levying a millage rate of 7.9932 for FY 2017/18 — City Attorney (Exhibit 4). Council Member O'Connor moved to read proposed Ordinance No. 1157 by title only, and set September 19, 2017, as a final Public Hearing date, levying a Millage Rate of 7.9932 for FY 2017-18; seconded by Council Member Ritter. b) Vote on motion to read by title only and set final public hearing date. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. c) City Attorney to read proposed Ordinance No. 1157 by title only. Attorney Cook read proposed Ordinance No. 1157 by title only as follows: "AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA, ADOPTING A MILLAGE RATE TO BE LEVIED ON ALL REAL AND TANGIBLE PERSONAL PROPERTY WITHIN THE CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; PROVIDING THAT 7.9932 PER THOUSAND DOLLAR VALUATION SHALL NOT BE LEVIED ON HOMESTEAD PROPERTY, THAT 7.9932 VALUATION SHALL BE USED FOR GENERAL CITY PURPOSES; THAT SAID MILLAGE RATE IS 5.38 PERCENT (5.38%) MORE THAN THE ROLL -BACK RATE COMPUTED IN ACCORDANCE WITH FLORIDA STATUTE 200.065 (1); PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE." 2.a) Motion to approve the first reading of proposed Ordinance No. 1157. Motion and second by Council Members Ritter and O'Connor to approve the first reading of proposed Ordinance No. 1157. Page 6 of 10 11 r NOW b) Public comments and discussion. None. Council? Discussed at budget workshop, same rate as current year. None c) Vote on motion. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. D.1.a) Motion to read proposed Ordinance No. 1158 by title only and set September 19, 2017 at 6:00 P.M. as a final public hearing date, adopting an annual budget for FY 2017-18 — City Attorney (Exhibit 5). Council Member Ritter moved to read proposed Ordinance No. 1158 by title only, and set September 19, 2017, as a final Public Hearing date, adopting an annual Budget for FY 2017-18; seconded by Council Member O'Connor. b) Vote on motion to read by title only and set final Public Hearing_ date. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. c) City Attorney to read proposed Ordinance No. 1158 by title only. Attorney Cook read proposed Ordinance No. 1158 by title only as follows: "AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE CITY OF OKEECHOBEE, FLORIDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; WHICH BUDGET SETS FORTH GENERAL FUND REVENUES OF $9,511,496.00, TRANSFERS -IN OF $885,453.00, AND EXPENDITURES OF $6,605,790.00, LEAVING A FUND BALANCE OF $3,791,159.00; PUBLIC FACILITIES IMPROVEMENT FUND REVENUES OF $1,464,908.00, EXPENDITURES OF $777,537.00 AND TRANSFERS -OUT OF $350,000.00, LEAVING A FUND BALANCE OF $337,371.00; OTHER GRANTS FUND REVENUES OF $528,292.00, TRANSFERS -IN OF $42,610.00, AND EXPENDITURES OF $570,902.00, LEAVING A FUND BALANCE OF $0.00; APPROPRIATIONS GRANT FUND REVENUES OF $219,450.00, EXPENDITURES OF $219,450.00, LEAVING A FUND BALANCE OF $0.00; CAPITAL IMPROVEMENT PROJECTS FUND REVENUES OF $4,364,380.00, EXPENDITURES OF $780,985.00, AND TRANSFERS -OUT OF $588,513.00, LEAVING A FUND BALANCE OF $2,994,882.00; LAW ENFORCEMENT SPECIAL FUND REVENUES OF $4,811.00, AND EXPENDITURES OF $1,750.00, LEAVING A FUND BALANCE OF $3,061.00; PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE." 2.a) Motion to approve the first reading of proposed Ordinance No. 1158. Motion and second by Council Members O'Connor and Ritter to approve the first reading of proposed Ordinance No. 1158. b) Public comments and discussion. Over last 3 years shown increases in public safety operational. MDO $450,000.00 was the fire truck which was a one expense. Jennifery Tewskbury of the Economc Council, what is the citys plan to recoup those expenses? Dowling — salary increases that reoccur are in there, some are one time expenses. Reserves for the expenses of the fire truck, maintenance and repair the council is aware of this and look at it every year. We know there are cuts that will have to be made if the revenues don't continue to increase to keep from using reserves to balance the budget. Ritter from my stand oint agree with your point, fortunate with city councils in past that planned for reserves and can use reserves to pay our emplooyees to continue the level of service. Important to know we are also spending money on Page 7 of 10 "r..+ New projects that the mayor discusses with the dept heads, but projects are spent on the community. Cant go in that direction each year, it is not a trend that increasing but decreasing. MDO past few years, first time seeing property revenues and sales tax revenues increasing for the first time. Trend will be that within a few years we will be even. We see revenues coming or increasing. This should reserve itself, holding on. Clark — budgeted to use $500,000 in reserves, anticipated to use $300,000. Dowling revenue and expenses all yu have to look at approving only those that are necessary, this was my first time going through budget project, there were several items that don't even make it this far. Ritter — perhaps coming up with a five year strategic plan and describe where were want to go in the future to help the economic council. Jennifer the 5 year strategic plan would be a good idea. Clark very concerned with the trend of using reserves, the property values wont increase fast enough to keep the pace. Dowling everything covered, including salary for the drug task force officer, whose partial salary is reimbursed through a grant that may not be awarded. MDO — budgeted same way last year. India — memo highlights. Dowling thank Administrator and Finance Director, think medical clinic is going to be a good thing. Clark if were increasing operating expenses that should be reflected in the millage rate, if its capital expenses then reserves would be the appropriate area to pulled. Clark the CRA study is that something we vote on to do? Yes because the amount is over $7500. Ritter want to follow up with Clark discussion, don't know if appropriate, completely undertand what youre saying, another government body had same discussion for three years, go same route we go, we are in better shape than the larger government. Agree cant continue to go into the reserves, but we are fortunate to reap past council's frugalness, cant continue on doing this for the next few years. Dowling — when Clayton on the council he was also concerned about the pension plan and we are very fortunate to have a plan fully funded. dDonald Burk would say do we want to bite the bullet. The General Fund Budget Summary lists the beginning Fund Balance of $4,189,162.00 (including $398,002.00 roll forward from prior FY); revenues projected consist of Ad Valorem Taxes $2,075,803.00; Other Fees (utility taxes, fire and casualty insurance premium taxes, public service fees, and business tax receipts) $679,000.00; Intergovernmental Revenues (cigarette, alcoholic beverages, half and one -cent, County business tax receipt, communication taxes, firefighters supplement, and mobile home licenses) $1,540,385.00; Charges for Current Services (fees for building and inspection permits, LDR applications and petitions, franchises, plan reviews, street/alley closings, public records request, and residential solid waste collection) $973,750.00; Fines, Forfeitures and Penalties (court fines, radio communication fees, law enforcement education, investigation reimbursement, unclaimed evidence, and ordinance violation fines) $14,450.00; Uses of Money and Property (interest, investment earning, and surplus property) $1,000.00; Other (small grants, FDOT maintenance agreements, miscellaneous, code enforcement fines, police accident reports, and capital lease proceeds) $37,946.00; Transferred -In from the Public Facilities Improvement Fund $350,000.00 and from the Capital Improvement Projects Fund $535,453.00. The expenditures for each department are listed below: Proposed Budget for General Fund/ Total Personnel Cost: $ 97,106.00 511-Legislative/City Council Total Supplies and Other Services: $ 95,690.00 (pages 4-5) FY 2017118 Proposed Total: $ 192,796.00 FY 2016/17 Amended Budgeted Total: $ 82,699.00 Page 8 of 10 14or Proposed Budget for General Fund/ 512 Executive/Administration (pages 6-7) Proposed Budget for General Fund/ 2512- Exec utive/City Clerk (pages 8-9) Proposed Budget for General Fund/ 514-Legal Services (page 10) Proposed Budget for General Fund/ 513-Finance (pages 11-12) Proposed Budget for General Fund/ 519-General Services (pages 13-14) Proposed Budget for General Fund/ 521-Police Department (pages 15-16) Proposed Budget for General Fund/ 522-Fire Department (pages 17-18) Difference: $ 10,097.00 Total Personnel Cost: $ 176,717.00 Total Supplies and Other Services: $ 27,807.00 FY 2017/18 Proposed Total: $ 204,524.00 FY 2016/17 Amended Budgeted Total: $ 195,341.00 Difference: $ 9,183.00 Total Personnel Cost: $ 153,161.00 Total Supplies and Other Services: $ 55,597.00 FY 2017/18 Proposed Total $ 208,758.00 FY 2016/17 Amended Budgeted Total: $ 216,170.00 Difference: $( 7,412.00) FY 2017118 Proposed Total $ 115,760.00 FY 2016/17 Amended Budgeted Total: $ 75.710,00 Difference: $ 40,050.00 Total Personnel Cost: $ 191,323.00 Total Supplies and Other Services: $ 96.307.00 FY 2017/18 Proposed Total $ 287,630.00 FY 2016/17 Amended Budgeted Total: $ 279,391.00 Difference: $ 8,239.00 Total Personnel Cost: $ 105,229.00 Total Supplies and Other Services: $ 291,291.00 FY 2017/18 Proposed Total $ 396,520.00 FY 2016/17 Amended Budgeted Total: $ 375,544.00 Difference: $ 20,976.00 Total Personnel Cost: Total Supplies and Other Services: FY 2017/18 Proposed Total FY 2016/17 Budgeted Total: Difference: Total Personnel Cost: Total Supplies and Other Services: FY 2017/18 Proposed Total FY 2016/17 Budgeted Total: Difference: Proposed Budget for General Fund/ Total Personnel Cost: 541-Public Works Total Supplies and Other Services (pages 19-20) FY 2017/18 Proposed Total FY 2016/17 Budgeted Total: Difference: Public Facility Improvement (Transportation 301) Fund: Beginning Fund Balance of $620,571; Total Revenue Estimates of $844,337.00; $ 1,951,614.00 $ 334,859.00 $ 2,286,473.00 $ 2,262,583.00 $ 23,890.00 $ 1,408,484.00 $ 260,150.00 $ 1,668,634.00 $ 1,587,869.00 $ 80,765.00 $ 700,215.00 $ 544,460.00 $ 1,244,675.00 $ 1,230,079.00 $ 14,596.00 Page 9 of 10 Total Expenditures Projected of $777,537.00 (plus $350,000.00 to be Transferred -Out to General Fund); leaving a Fund Balance of $337,371.00. Capital Improvements Projects (304) Fund: Beginning Fund Balance is $4,136,380.00; Total Revenues Estimates of $228,000.00; Total Projected Expenditures are $780,985.00, (plus $53,060.00 transferred -out to Other Grants Fund, and $535,453.00 transferred -out to General Fund); leaving a Fund Balance $2,994,882.00. Other Grant (302) Funds: Beginning Fund Balance is $312,162.00; TMDL Grant Revenue $41,130.00, Stormwater Drainage Grant Revenue $175,000.00; Transfer -in from Capital improvement Projects Fund, $42,610.00; Total Projected Expenditures of $570,902.00; leaving a Fund Balance of $0.00. Appropriations Grant (307) Fund: Beginning Fund Balance is $0.00; Total Revenues Estimates of $219,450.00 (including $10,450.00 Transfer -in from Capital Improvement Projects Fund); Total Projected Expenditures of $219,450.00; leaving a Fund Balance of $0.00. Law Enforcement Special (601) Fund: Beginning Fund Balance of $4,311.00; Total Estimated Revenues of $500.00; Total Projected Expenditures as $1,750.00; leaving a Fund Balance of $3,061.00. c) Vote on motion. VOTE: WATFORD — YEA CHANDLER — YEA CLARK — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. MAYOR WATFORD CLOSED THE PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES AT 7:20 P.M. Storm most likely coming, everyone stay safe, anything we can do to help our city family, commend city staff, know they will be very busy, please tell them we appreciate them and will be praying for them. IX. ADJOURNMENT - Mayor There being no further items on the agenda, Mayor Watford adjourned the meeting at 7:25 P.M. Page 10 of 10 M City of Okeechobee, September 5, 2017 Meeting Minutes taken during the meeting by Bobbie Jenkins I. CALL TO ORDER: Mayor Watford called the Regular City Council Meeting and First Budget Public Hearing to order on September 5, 2017, at 6:00 P.M. in the Council Chambers, Room 200 located at City Hall, 55 SE 3rd Avenue, Okeechobee, Florida 34974. Moment of silence iar WbO f e-Aefs pamn II. OPENING CEREMONIES: The invocation was given-6y Mayor Watford; the Pledge of Allegiance was led by Mayor Watford. III. MAYOR, COUNCIL MEMBERS AND STAFF ATTENDANCE - City Clerk Mayor Dowling R. Watford, Jr. Present Council Member Noel Chandler Present Council Member Monica Clark Present Council Member Mike O'Connor Present Council Member Gary Ritter Present City Attorney John R. Cook Present City Administrator Marcos MontesDeOca Present City Clerk Lane Gamiotea Present Deputy City Clerk Bobbie Jenkins Present Fire Chief Herb Smith Present — EW 5,15 briefin1. Police Chief Bob Peterson Present Public Works Director David Allen Present Finance Director Riedel Present IV. AGENDA AND PUBLIC COMMENTS - Mayor A. Requests for the addition, deferral or withdrawal of items on today's agenda. Mayor Watford asked whether there were any requests for the addition, deferral, or withdrawal of items on today's agenda. • National Suicide Month Proclamation deferred to September 19th Meeting Leine • National Hunger Month Proclamation deferred to September 19th Meeting tkm D New 6" McSS 116M F 0-1159 Uhl b f-0& B. Public participation for any issues not on the agenda - Agenda Item Form or Comment Card is required. Citizen comments are limited to 3 minutes per speaker mess otherwise approved by the Mayor. Muo-i11anK fQmII W64P60 Mayor Watford asked whether there w�re any comment cards presented for public comment. V. PROCLAMATIONS AND PRESENTATIONS - Mayor A. Proclaim September 21, 2017, as "Big Lake Interact Club Day of Peace." Mayor Watford proclaimed September 21, 2017, as Big Lake Interact Club Day of Peace, and reading into the record as follows: "Whereas, the Big Lake Interact Club, founded on April 22, 2017, in Okeechobee, Florida is a community based organization sponsored by the Rotary Club of Okeechobee comprised and lead by students ages 12-18; and Whereas, the Big Lake Interact Club works to uphold the ideals of peace and understanding through community service and cooperation with the Rotary Club of Okeechobee; and Whereas, the issue of peace embraces the deepest hopes of all people and remains humanity's guiding inspiration; and Whereas, the City Council of Okeechobee recognizes Big Lake Interact Club's service to the community of Okeechobee; and Whereas, there is growing support within our city for the participation in service projects and youth empowerment. Now, Therefore, 1, Dowling R. Watford, Jr., by virtue of the authority vested in me as Mayor of the City of Okeechobee, Florida, do hereby proclaim September 21, 2017, as the 'Big Lake Interact Club Day of Peace' and urge all government departments and agencies, organizations, schools, places of worship and individuals in our city to commemorate, in an appropriate manner, the Big Lake Interact Day of Peace." The proclamation was presented to: Mr. Tod B Hardacre, MRC Unit Leader, Safety Coordinator, Staff Assistant of the Florida Department of Health of Okeechobee County QeacA pole PrOatqa f at Paf df- e-ld Skk PCfk. krle C�ardoh PQsf PiSInd 6ovei-n6r fr#! d,wn INh i-IM-ead fi-e_9 c- w% GUrrld Uf derSfdridl � fQ,l' i I1 • �J Page 1 of 13 14W *4W B. Proclaim the week of September 17 through 23, 2017, as "National Constitution Week." Mayor Watford proclaimed the week of September 17 through 23, 2017, as National Constitution, and read the proclamation into the record as follows: "Whereas, September 17, 2017, marks the two hundred thirtieth anniversary of the drafting of the Constitution of the United States of America by the Constitutional Convention; and Whereas, it is fitting and proper to accord official recognition to this magnificent document and its memorable anniversary, and to the patriotic celebrations which will commemorate the occasion; and Whereas, Public Law 915 guarantees the issuing of a proclamation each year by the President of the United States of America designating September 17 through 23 as Constitution Week. Now Therefore, 1, Dowling R. Watford, Jr., by virtue of the authority vested in me as Mayor of the City of Okeechobee, Florida, do hereby proclaim the week of September 17 through 23, 2017 as `NATIONAL CONSTITUTION WEEK' in the City of Okeechobee, and ask our citizens to reaffirm the ideals that the Framers of the Constitution had in 1787 by vigilantly protecting the freedoms guaranteed to us through this guardian of our liberties, remembering that lost rights may never be regained." The proclamation was presented to: Ms. Letta Jordan and Ms. Lorna Green aid kfYs. kU.4h►-e PivA MG &ajhk1rs PPANAieriean ReAlQ«an. C. Proclaim the month of September, 2017 as "Hunger Action Month." Deferred to September 19th Meeting D. Proclaim the month of September, 2017 as "National Suicide Prevention Month." Deferred to September 19th Meeting MINUTES - City Clerk A. Motion to dispense with the reading and approve the Summary of Council Action for the July 18, 2017, Regular Meeting and the August 15, 2017, Regular Meeting and Budget Workshop. Council Member MO moved to dispense with the reading and approve the Summary of Council Action for the July 18, 2017, regular meeting and the August 15, 2017, regular meeting and budget workshop; seconded by Council Member Discussion: none. VOTE: WATFORD - YEA CHANDLER - YEA CLARK -O'CONNOR - YEA RITTER - YEA OTION CARRIED. Page 2 of 13 r.r VII. NEW BUSINESS A. Motion to approve a contribution of $8,200.00 from the Chamber of Commerce Leadership Class to the City of Okeechobee with the request of 50% matching funds by the City of Okeechobee for the purchase of picnic tables to be placed in the downtown area parks (Flagler Parks) — Melisa Jahner, Leadership Class President. Council Member MO moved to approve a contribution of $8,200.00 from the Chamber of Commerce Leadership Class to the City of Okeechobee, with the request of 50 percent matching funds by the City of Oke c obee, for the purchase of picnic tables to be placed in the downtown area parks (FLAGLER Parks); seconded by Council Member. Discussion: Mrs, Mersa doyler ton (_nsocersh* &06s Aa-V&.0- Mns lYlusf &nne lU11h a SaavicQ ro� /ecf .2Ach iO m2t� �f� ltdd �dia�',tab&S. 9"M&S lv;l�-� h �s�msor �Olayue. �¢I70 so rt�iv �. i�r irks a� ROM y �Q o� �in2o aP cS¢Yu� Id"V bjej* �&s-�:. xvs a� � �Z�Lllo�� /�&� IYQCuI-� -s, VOTE: WATFORD — YEA CHANDLER — YEA O'CONNOR — YEA RITTER — YEA CLARK — YEA �- MOTION CARRIED. Page 3 of 13 VII. NEW BUSINESS CONTINUED B. Motion to approve the Fourth Amendment to Interlocal Agreement Creating the Okeechobee Utility Authority between Okeechobee County and the City of Okeechobee - City Administrator (Exhibit 1). Motion and second by Council Members -Wand Nto approve the Fourth Amendment to Inter -local Agreement creating the Okeechobee Utility Authority (OUA) between Okeechobee County and the City of Okeechobee. Discussion: Paragraph 4.17 of Article IV - Authority Board - is hereby deleted in its entirety and a new Paragraph 4.17 replaces it as follows: The four (4) members of the Authority Board appointed by the County and City shall then, by a simple majority vote, appoint a fifth member of the Authority Board and one (1) alternate representative who may attend all meetings of the Authority Board and shall have the authority to vote in the absence of said fifth member; provided, however for so long as the service area encompasses a portion of Glades County, said fifth member and the alternate for that member, shall be a resident(s) in Glades County service area. The following paragraphs are hereby added to Article IV: Paragraph 4.18: The Authority Board shall cause to develop and maintain a roliina three (3) strategic plan which includes goals and objectives for the following strategies or components: financial, workforce, fleet management, infrastructure, asset management and best practices, operational excellence and customer service. This plan will be presented annually to both County and City by their appointed members on the Authority Board. Paragraph 4.19: The Authority Board shall ensure all construction of new or the maintenance of existing Water and Wastewater System are coordinated with County of City Public Works Departments ensuring roads and drainage right of ways are fully restored after the completion of work. Paragraph 4.20: The Authority Board may utilize the Okeechobee Board of County Commissioners chamber to conduct any meetings. The meetings will be at a minimum video tape delayed and posted to the Authority Board's website for the public providing the necessary means of transparency. The County will provide the Commissioner Chambers and associated technical support at no cost to the Authority Board. Paragraph 4.21: Both the County and City reserve the right to remove and promptly replace any one of their appointed Authority Board member(s) and/or their appointed Alternate. Should a member of the Authority Board be removed, as provided herein, the applicable Alternate shall serve until that Authority Board member has been replaced. The replacement of an Authority Board member(s) and/or an appointed Alternate will proceed as prescribed in Paragraph 4.2, Paragraph 4.3 or 4.4, as applicable. VOTE: WATFORD — YEA CHANDLER — YEA CLARK YEA O'CONNOR — YEA RITTER — YEA C MOTION CARRIED. Page 4 of 13 - cm "kaw VII. NEW BUSINESS CONTINUED C. Motion to approve an Interlocal Agreement between Okeechobee County and the City of Okeechobee regarding Gas Tax — City Administrator (Exhibit 2). //��,nK Motion and second by Council Members itandUto approve an Inter -local Agreement between Okeechobee County and the City of Okeechobee regarding Gas Tax. Discussion: From January 1, 2018 through December 31, 2027, the 5-cent, 4-cent, and 2-cent Local Option Gas Tax proceeds shall be distributed as follows: City of Okeechobee 19.34 percent, County of Okeechobee 80.66 percent. From January 1, 2018 through December 31, 2027, the ninth -cent Local Option Gas Tax proceeds shall be distributed as follows: City of Okeechobee 0.00 percent, County of Okeechobee 100.00 percent. Due to section 336.025(1)(d), F.S., by the use of a percentage distribution rather than a fixed sum distribution, this Agreement is deemed to automatically adjust on a yearly basis. This Agreement shall expire upon receipt and disbursement of the December 31, 2027 gas tax revenue or August 31, 2018, whichever date is earlier, unless amended as provided herein. The County shall notify the Florida Department of Revenue of this Inter -local Agreement as provided in Chapter 336, F.S. and shall hold such public hearings as may be necessary to ensure this Agreement is consistent with existing County Ordinances and Resolutions. The Agreement may be amended at any time by written instrument duly adopted and executed by both the County and City and may be terminated provided written notice is provided to the non -terminating party no later than the first day of May of any given year to be effective the first day of January of the following year. The Agreement may be executed in any number of counter parts, each of which shall constitute an original, altogether one and the same instrument. MDQ- kohnw vAf� sC1p-P % as t"WW' Ar. GR— laem 3 u�hy o°l /ion% others shop VOTE: WATFORD — YEA CHANDLER — YEA O'CONNOR — YEA RITTER — YEA Iq��qM -14-r- Ail- A — OTION CARRIED. Page 5 of 13 IM VII. NEW BUSINESS CONTINUED D. Motion to approve transferring all dollars in the General Fund, Capital Fund, and Public Facility Fund to the Florida Prime, "Local Government Investment Pool", excluding 120 days of budgeted expenses in each identified fund, based on each fiscal year's budget in the month of October - City Administrator and Finance Director. Council Member Mo moved to approve transferring all dollars in the General Fund, Capital Improvement Projects Fund, and the Public Facility Improvements Fund to the Florida Prime, "Local Government Investment Pool", excluding 120 days of b geted expenses in each identified fund, based on each fiscal year's budget in the month of October; seconded by Council Member 1 Discussion: IQ- pooh fa-OFrPseWs � rw.el This Q.fq I i �Pd I t)o'lo mw— Mil ►'V& (ass *U loci w'lf muesfinan�- t�pQ a�a��Quref Gtas MC- istius W�a on''41 fund 2 29/ of nwruupalirter parfaGo whw do oyG�s Moo- utevr kqt Ova ulds ow.Tiaw�p �e ofP�arFunds. IR- a. pnrvia W I'NJYn Gfeis+ff Pad S. fccL,6 UOkd io Ihues+ ocs �wds ivi k. Prim-L MC- f�bW Vwuch # Ulul `fPnal be? IR- Q{�pvw. �l Ivu�(�aki VOTE: WATFORD — YEA CHANDLER — YEA O'CONNOR — YEA RITTER — YEA LARK — YEA --- OTION CARRIED. Page 6 of 13 VAW I.r VII. NEW BUSINESS CONTINUED E. Motion to approve renewal of Property and Casualty Insurance coverages with the Public Risk Management (PRM) of Florida and continuation of a two-year cov erage agreement with an effective date of October 1, 2017 — Finance Director (Exhibit 3). Motion and second by Council Members approve the renewal of Property and Casualty Insurance coverages with Public Risk Management of Florida, Inc. (PRM) and the continuation of a two-year coverage agreement with an effective date of October 1, 2017. Discussion: Property and Crime GL/AUE&O/LEL & Excess Liability Workers Compensation Member Participation Credit Grand Total Note C b I' b'I't 1 d d FY 2016-17 $54,866 FY 2016-17 $88,619 FY 2016-17 $122,374 FY 2016-17 $(10,255) FY 2016-17 $255,634 FY 2017-18 $52,123 5% decrease FY 2017-18 $92,163 4% increase FY 2017-18 $133,147 8.8% increase FY 2017-18 $(5,440) FY 2017-18 $271,994 6.4% increase d�bWd �o uoyor +wrw� paw WC incveased dw--fv ly 0 ahcw. Slarve�� inns p¢rfamicd 19 mAs oho mom- ruwv ;ya fw�� - VOTE: WATFORD — YEA CHANDLER — YEA O'CONNOR — YEA RITTER — YEA Page 7 of 13 CLARK — MOTION CARRIED. `1. *40W Vlll. OPEN PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES — MAYOR Time- to: q� A. Mayor announces that the purpose of this public hearing is to consider the first reading of ordinances for the proposed millage rate levy and proposed budget for fiscal year 2017-2018. Mayor Watford announced that the purpose of this Public Hearing is to consider the first reading of ordinances for the proposed Millage Rate levy and proposed Budget for Fiscal Year (FY) 2017-18. B. Mayor announces that the proposed millage rate levy represents 5.38% more than the roll back rate computed pursuant to F.S.200.065(1). Mayor Watford announced that the proposed Millage Rate levy represents a 5.38 percent more than the roll -back rate computed pursuant to Florida Statute 200.065(1). CA.a) Motion to read proposed Ordinance No. 1157 by title only and set September 19, 2017 at 6:00 P.M. as a final public hearing date, levying a millage rate of 7.9932 for FY 2017/18 — City Attorney (Exhibit 4). Council Membe moved to read proposed Ordinance No. 1157 by title only, and set September 19, 2017, as a final Public Hearing date, levying a Millage Rate of 7.9932 for FY 2017-18; seconded by Council Member ' tto Cqe b) Vote on motion to read by title only and set final public hearing date. VOTE: WATFORD — YEA CHANDLER — YEA O'CONNOR — YEA RITTER — YEA RRIED. c) City Attorney to read proposed Ordinance No. 1157 by title only. Attorney Cook read proposed Ordinance No. 1157 by title only as follows: "AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA, ADOPTING A MILLAGE RATE TO BE LEVIED ON ALL REAL AND TANGIBLE PERSONAL PROPERTY WITHIN THE CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; PROVIDING THAT 7.9932 PER THOUSAND DOLLAR VALUATION SHALL NOT BE LEVIED ON HOMESTEAD PROPERTY; THAT 7.9932 VALUATION SHALL BE USED FOR GENERAL CITY PURPOSES; THAT SAID MILLAGE RATE IS 5.38 PERCENT (5.3891.) MORE THAN THE ROLL -BACK RATE COMPUTED IN ACCORDANCE WITH FLORIDA STATUTE 200.065 (1); PROVIDING FOR CONFLICT, PROVIDING FOR SEVERABILITY, AND PROVIDING FOR AN EFFECTIVE DATE." 2.a) Motion to approve the first reading of proposed Ordinance No. 1157. Motion and second by Council Members and I ty to approve the first reading of proposed Ordinance No. 1157. Page 8 of 13 In En VIII. PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES CONTINUED. C.2.b) Public comments and discussion. Mo,�a sa�u rnu� r� as c) Vote on motion. VOTE: WATFORD — YEA CHANDLER — YEA O'CONNOR — YEA RITTER — YEA MOTION CARRIED. Page 9 of 13 err VIII. PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES CONTINUED. D.1.a) Motion to read proposed Ordinance No. 1158 by title only and set September 19, 2017 at 6:00 P.M. as a final public hearing date, adopting an annual budget for FY 2017-18 — City Attorney (Exhibit 5). Council Member moved to read proposed Ordinance No. 1158 by title only, and set September 19, 2017, as a final Public mbean Hearing date, adopting an annual Budget for FY 2017-18; seconded by Council Me. b) Vote on motion to read by title only and set final Public Hearing date. VOTE: WATFORD - YEA CHANDLER - YEA __C_L,4Rff-=-YEA------� O'CONNOR - YEA RITTER - YEA (` MOTION CARRIED ; ) c) City Attorney to read proposed Ordinance No. 1158 by title only. Attorney Cook read proposed Ordinance No. 1158 by title only as follows: "AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE CITY OF OKEECHOBEE, FLORIDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; WHICH BUDGET SETS FORTH GENERAL FUND REVENUES OF $9,511,496.00, TRANSFERS -IN OF $885,453.00, AND EXPENDITURES OF $6,605,790.00, LEAVING A FUND BALANCE OF $3,791,159.00; PUBLIC FACILITIES IMPROVEMENT FUND REVENUES OF $1,464,908.00, EXPENDITURES OF $777,537.00 AND TRANSFERS -OUT OF $350,000.00, LEAVING A FUND BALANCE OF $337,371.00; OTHER GRANTS FUND REVENUES OF $528,292.00, TRANSFERS -IN OF $42,610.00, AND EXPENDITURES OF $570,902.00, LEAVING A FUND BALANCE OF $0.00; APPROPRIATIONS GRANT FUND REVENUES OF $219,450.00, EXPENDITURES OF $219,450.00, LEAVING A FUND BALANCE OF $0.00, CAPITAL IMPROVEMENT PROJECTS FUND REVENUES OF $4,364,380.00, EXPENDITURES OF $780,985.00, AND TRANSFERS -OUT OF $588,513.00, LEAVING A FUND BALANCE OF $2,994,882.00; LAW ENFORCEMENT SPECIAL FUND REVENUES OF $4,811.00, AND EXPENDITURES OF $1,750.00, LEAVING A FUND BALANCE OF $3,061.00; PROVIDING FOR CONFLICT, PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE." 2.a) Motion to approve the first reading of proposed Ordinance No. 1158. Motion and second by Council Members and ��o approve the first reading of proposed Ordinance No. 1158. b) Public comments and discussion. The General Fund Budget Summary lists the beginning Fund Balance of $4,189,162.00 (including $398,002.00 roll forward from prior FY); revenues projected consist of Ad Valorem Taxes $2,075,803.00; Other Fees (utility taxes, fire and casualty insurance premium taxes, public service fees, and business tax receipts) $679,000.00; Intergovernmental Revenues (cigarette, alcoholic beverages, half and one -cent, County business tax receipt, communication taxes, firefighters supplement, and mobile home licenses) $1,540,385.00; Charges for Current Services (fees for building and inspection permits, LDR applications and petitions, franchises, plan reviews, street/alley closings, public records request, and residential solid waste collection) $973,750.00; Fines, Forfeitures and Penalties (court fines, radio communication fees, law enforcement education, investigation reimbursement, unclaimed evidence, and ordinance violation fines) $14,450.00; Uses of Money and Property (interest, investment earning, and surplus property) $1,000.00; Other (small grants, FDOT maintenance agreements, miscellaneous, code enforcement fines, police accident reports, and capital lease proceeds) $37,946.00; Transferred -In from the Public Facilities Improvement Fund $350,000.00 and from the Capital Improvement Projects Fund $535,453.00. The expenditures for each department are listed below: Proposed Budget for General Fund/ 511-Legislative/City Council (pages 4-5) Proposed Budget for General Fund/ 512 Executive/Administration (pages 6-7) Total Personnel Cost: $ 97,106.00 Total Supplies and Other Services: $ 95,690.00 FY 2017/18 Proposed Total: $ 192,796.00 FY 2016/17 Amended Budgeted Total: $ 82,699.00 Difference: $ 10,097.00 Total Personnel Cost: $ 176,717.00 Total Supplies and Other Services: $ 27,807.00 FY 2017/18 Proposed Total: $ 204,524.00 Page 10 of 13 FY 2016/17 Amended Budgeted Total: $ 195,341.00 Difference: $ 9,183.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 153,161.00 2512-Executive/City Clerk Total Supplies and Other Services: $ 55,597.00 (pages 8-9) FY 2017/18 Proposed Total $ 208,758.00 FY 2016/17 Amended Budgeted Total: $ 216,170.00 Difference: $( 7,412.00) Proposed Budget for General Fund/ FY 2017118 Proposed Total $ 115,760.00 514-Legal Services FY 2016/17 Amended Budgeted Total: $ 75,710.00 (page 10) Difference: $ 40,050.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 191,323.00 513-Finance Total Supplies and Other Services: $ 96.307.00 (pages 11-12) FY 2017/18 Proposed Total $ 287,630.00 FY 2016/17 Amended Budgeted Total: $ 279,391.00 Difference- $ 8,239.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 105,229.00 519-General Services Total Supplies and Other Services: $ 291,291.00 (pages 13-14) FY 2017/18 Proposed Total $ 396,520.00 FY 2016/17 Amended Budgeted Total: $ 375,544.00 Difference: $ 20,976.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 1,951,614.00 521-Police Department Total Supplies and Other Services: $ 334 859.00 (pages 15-16) FY 2017/18 Proposed Total $ 2,286,473.00 FY 2016/17 Budgeted Total: $ 2,262,583.00 Difference: $ 23,890.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 1,408,484.00 522-Fire Department Total Supplies and Other Services: $ 260,150.00 (pages 17-18) FY 2017/18 Proposed Total $ 1,668,634.00 FY 2016/17 Budgeted Total: $ 1,587,869.00 Difference: $ 80,765.00 Proposed Budget for General Fund/ Total Personnel Cost: $ 700,215.00 541-Public Works Total Supplies and Other Services: $ 544 460.00 (pages 19-20) FY 2017/18 Proposed Total $ 1,244,675.00 FY 2016/17 Budgeted Total: $ 1,230,079.00 Difference: $ 14,596.00 Public Facility Improvement (Transportation 301) Fund: Beginning Fund Balance of $620,571; Total Revenue Estimates of $844,337.00; Total Expenditures Projected of $777,537.00 (plus $350,000.00 to be Transferred -Out to General Fund); leaving a Fund Balance of $337,371.00. Capital Improvements Projects (304) Fund: Beginning Fund Balance is $4,136,380.00; Total Revenues Estimates of $228,000.00; Total Projected Expenditures are $780,985.00, (plus $53,060.00 transferred -out to Other Grants Fund, and $535,453.00 transferred - out to General Fund); leaving a Fund Balance $2,994,882.00. Other Grant (302) Funds: Beginning Fund Balance is $312,162.00; TMDL Grant Revenue $41,130.00, Stormwater Drainage Grant Revenue $175,000.00; Transfer -In from Capital Improvement Projects Fund, $42,610.00; Total Projected Expenditures of $570,902.00; leaving a Fund Balance of $0.00. Page 11 of 13 *M✓ CM Appropriations Grant (307)) Fund: Beginning Fund Balance is $0.00; Total Revenues Estimates of $219,450.00 (including $10,450.00 Transfer -in from Capital Improvement Projects Fund); Total Projected Expenditures of $219,450.00; leaving a Fund Balance of $0.00. Law Enforcement Special (601) Fund: Beginning Fund Balance of $4,311.00; Total Estimated Revenues of $500.00; Total Projected Expenditures as $1,750.00; leaving a Fund Balance of $3,061.00. JolAr-Fmksbq- O�h s&wM �i Fcc�n� ivicx�u�e. Sri Q��rG i4rLQ,� o�,n�s. `% P is IYl�luden�. I� sp�ICen I� P.�we�-adn�.crusfr�mi o✓I fo&pn� �ha�-GUI �cr.� p.�'ar� Df�'lus UJW do ulsr-5 (fir A// Maw, a�sa s�O MOo- ��rea�mat �� S �nq �stsarnv ��roqS a t Oy p/12[c C� flan �dj Mo�� M 6WW 1-,nenWs Page 12 of 13 NOW Lon VIII. PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES CONTINUED. D.2.b) Public comments and discussion continued. �lo�ar- Graf& Alow is -hsk�. May nafh6 ws1gk&f mM far. V 14K MA9 5 X �n ' (a,� M/;Ut hUdl- . tpomrn is Luhw we W � Inwagils�cau.�a� � r �NofQ�fi� . faYk~ w � w a inhm re � MT1 � l�bliaw�s Ind c�scussi' p�s�rw�. Ulaax�tn�-�arh.�x� c) Vote on motion. VOTE: WATFORD - YEA CHANDLER - YEA O'CONNOR -YEA BITTER -YEA OTION CARRIED. —7 -�,,\ CLOSE PUBLIC HEARING FOR FIRST READING OF BUDGET ORDINANCES — Mayor Time: 1 I IX. ADJOURNMENT - Mayor There being no further items on the agenda, Mayor Watford adjourned the meeting at P.M. Page 13 of 13 aNDEPENDENT NEWSMEDIA INC. USA STATE OF FLORIDA COUNTY OF OKEECHOBEE Before the undersigned authority personally appeared Katrina Elsken, who on oath says she is the Publisher of the Okeechobee News, a three times a week Newspaper published at Okeechobee, in Okeechobee County,l)Florida., that the attached copy of advertisement being a in the matter of in the 19th Judicial District of the Circuit Court of Okeechobee County, Florida, was published in said newspaper in the issues of y s p Affiant further says that the said Okeechobee News is a newspaper published at Okeechobee, in said Okeechobee County, Florida, and that said newspaper has heretofore been published continuously in said Okeechobee County, Florida each week and has been entered as second class mail matter at the post office in Okeechobee, in said Okeechobee County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement, and affiant further says that she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. Katrina Elsken Sworn to and subscribed before me this day of 1 .,, 1 u: r AD Notary Public, State of Florida at Large A � tf{ ! g - Y ANGIE BRIDGES W COMMISSION # FF 976149 EXPIRES:Apd20 2020 'igOF p�OP •` WINOY huNO�Punk Under tens Okeechobd 107 SW 17th St Okeechobee, Fll 863-763- r• i � A a�> pry % 'S� a4 T��V✓•a � I fry��t� ews. w� e, SurtetlD -q.. a a 34974 ly I FIRST BUDGET HEARING AND REGULAR CITY COUNCIL MEETING NOTICE NOTICE IS HEREBY GIVEN that the City Council will conduct a Regular Meadng'beginningg at 6:00 pm. on Tue, Sep. S, 2017, or as soon thereafter aspossIble, at City Hall, 55 5E 3rd Ave; Rm'200, Okeechobee, Florida. The Flrat.Publk Hearing to consider the proposed 2017/2018 FIs- cal Year Annual Budget will be conducted at this meeting. The public Is In- vited and encouraged to attend. City Administration at 863-763-3372, or webstte cttyofokeechobee.com, to obtain a copy of the agenda. ANY PERSON DECIDING TO APPEAL any decision made by the City Council with respect to any matter conslderen at this meeting will need to ensure a verbatim record of the proceeding is made and the record Includes the testimony and evidence uppoon which the appeal will be based. In accor- dance with the Americans wfth Disabillbes Act VaAc any person wtth a disability as defined by the ADA, that needs special accommodation to par- ticipate In this proceeding, contact the City Clerks Office no later than two business days prior to proceeding, 863-763-3372. BE ADVISED that should you Intend to show any document picture, video or items to the Council in support or opposition to any Item on the agenda, a copy of the document, picture, video, or item MUST be provided to the City Clerk for the City's records. DowlinRWatford, Jr. 80/gg0B03a1yoOrN317 0 .s office of the Mgor WHEREAS, the Big Lake Interact Club, founded on April 22, 2017, in Okeechobee, Florida is a community based organization sponsored by the Rotary Club of Okeechobee comprised and lead by students ages 12-18; and WHEREAS, the Big Lake Interact Club works to uphold the ideals of peace and understanding through community service and cooperation with the Rotary Club of Okeechobee; and WHEREAS, the issue of peace embraces the deepest hopes of all people and remains humanity's guiding inspiration; and WHEREAS, the City Council of Okeechobee recognizes Big Lake Interact Club's service to the community of Okeechobee; and WHEREAS, there is growing support within our city for the participation in service projects and youth empowerment. THEREFORE, I, Dowling R. Watford, Jr., by virtue of the authority vested in me as Mayor of the City of Okeechobee, Florida, do hereby proclaim September 21, 2017 as the "Rig Lake Interact Club Day of Peace" and urge all government departments and agencies, organizations, schools, places of worship and individuals in our city to commemorate, in an appropriate manner, the Big Lake Interact Day of Peace. In witness whereof, on September 5, 2017, I have set my hand and caused this seal to be affixed Dowling R ford, r., Mayor Attest: ? ': Lane Gamiotea, CMC, City Clerk office of the Mallor okeec obeeI Fforiba WHEREAS, September 17, 2017 marks the two hundred thirtieth anniversary of the drafting of the Constitution of the United States of America by the Constitutiona' Convention; and WHEREAS, it is fitting and proper to accord official recognition to this magnificent document and its memorable anniversary; and to the patriotic celebrations which will commemorate the occasion; and WHEREAS, Public Law 915 guarantees the issuing of a proclamation each year by the President of the United States of America designating September 17 through 23 as Constitution Week. NOW THEREFORE, I, Dowling R. Watford, Jr., by virtue of the authority vested in me as Mayor of the City of Okeechobee, Florida, do hereby proclaim the week of September 17 through 23, 2017 as 'NATIONAL CONSTITUTION WEEK" in the City of Okeechobee, and ask our citizens to reaffirm the ideals that the Framers of the Constitution had in 1787 by vigilantly protecting the freedoms guaranteed tc us through this guardian of our liberties, remembering that lost rights may never be regained. In witness whereof I ha ve hereunto set myhand this 5fh day of September 2017 and caused this seal to be affixed. Dowling R. W tf rd, Jr., ayor Attest: L ne Gamiotea, CMC, City Clerk Date: September 5, 2017 Exhibit 1 Sept 5, 2017 FOURTH AMENDMENT TO INTERLOCAL AGREEMENT CREATING THE OKEECHOBEE UTILITY AUTHORITY BETWEEN OKEECHOBEE COUNTY AND THE CITY OF OKEECHOBEE, FLORIDA THIS FOURTH AMENDMENT TO INTERLOCAL AGREEMENT, made and entered into this day of 2017, by and between the Board of County Commissioners of Okeechobee County, Florida, a political subdivision of the State of Florida, hereinafter referred to as "County", and the City Council of the City of Okeechobee, Florida, a municipal corporation existing under the laws of the State of Florida, hereinafter referred to as "City". WITNESSETH: WHEREAS, the County and the City previously entered into that certain Interlocal Agreement dated November 10, 1994, whereby the Okeechobee Utility Authority, hereinafter referred to as "OUA", was created; and WHEREAS, the Interlocal Agreement dated November 10, 1994 was subsequently amended by the following Amendments: (i) that certain First Amendment to Interlocal Agreement Creating the Okeechobee Utility Authority Between Okeechobee County and the City of Okeechobee, Florida, dated April 20, 1997, (ii) that certain Second Amendment to Interlocal Agreement Creating the Okeechobee Utility Authority Between Okeechobee County and the City of Okeechobee, Florida, dated January 5,1999, and (iii) that certain Third Amendment to Interlocal Agreement Creating the Okeechobee Utility Authority Between Okeechobee County and the City of Okeechobee, Florida, dated March 8, 2007 (collectively, the "Agreement"); and WHEREAS, the County, the City and OUA, hereinafter collectively referred to as the "Agencies", conducted a workshop on March 30, 2017 to discuss possible revisions to the Agreement, as well as the formation of a board to oversee the revision process; and O 1831642-8/7/ 17 Lon M WHEREAS, the Agencies each selected two of its members to serve on said board, hereinafter referred to as the "OUA Sub -committee"; and WHEREAS, the OUA Sub -Committee has reviewed the Agreement and as a result of the same requested the Agencies to amend the Agreement. NOW, THEREFORE, for and in consideration of the premises and mutual agreements hereinafter set forth, the Agencies hereby agree as follows: The recitals set forth hereinabove are true and correct in all respects and are incorporated herein as fully as if set forth herein verbatim. Defined (capitalized) terms shall have the meanings ascribed to them in the Agreement unless otherwise defined herein. 2. Paragraph 4.17 of Article IV - Authority Board- is hereby deleted in its entirety and a new Paragraph 4.17 replaces it as follows: The four (4) members of the Authority Board appointed by the County and City shall then, by a simple majority vote, appoint a fifth member of the Authority Board and one (1 ) alternate representative who may attend all meetings of the Authority Board and shall have the authority to vote in the absence of said fifth member; provided, however for so long as the service area encompasses a portion of Glades County, said fifth member and the alternate for that member, shall be a residentfJs in Glades County service area. The following Paragraphs are hereby added to Article IV: Paragraph 4.18: The Authority Board shall cause to develop and maintain a rolling three (3) strategic plan which includes goals and objectives for the following strategies or components: financial, workforce, fleet management, infrastructure, asset management and best practices, operational excellence and customer service. This plan will be presented annually to both County and City by their appointed members on the Authority Board. Paragraph 4.19: The Authority Board shall ensure all construction of new or the maintenance of existing Water and Wastewater System are coordinated with County or City Public Works Departments ensuring roads and drainag;, right of ways are fully restored after the completion of work. -2- ,%me Vww Paragraph 4.20: The Authority Board may utilize the Okeechobee Board of County Commissioners chamber to conduct any meetings. The meetings will be at a minimum video tape delayed and posted to the Authority Board's website for the public providing the necessary means of transparency. The County will provide the Commissioner Chambers and associated technical support at no cost to the Authority Board. Paragraph 4.21: Both the County and the City reserve the right to remove and promptly replace any one of their appointed Authority Board member(s) and/or their appointed Alternate. Should a member of the Authority Board be removed, as provided for herein, the applicable Alternate shall serve until that Authority Board member has been replaced. The replacement of an Authority Board member (s) and/or an appointed Alternate will proceed as prescribed in Paragraph 4.2, Paragraph 4.3 or 4.4, as applicable. AFFIRMATION BY COUNTY The County hereby affirms that, at a duly constituted meeting of the Board of County Commissioners of Okeechobee County, Florida, on the _day of , 2017, it approved the terms of this Fourth Amendment to Interlocal Agreement and the execution thereof by the County. BOARD OF COUNTY COMMISSIONERS OF OKEECHOBEE COUNTY, FLORIDA LISA ATTEST: Clerk Chairman (SEAL) -3- cm M AFFIRMATION BY CITY The City hereby affirms that, at a duly constituted meeting of the City Council of the City of Okeechobee, Florida, on the day of , 2017, it approved the terms of this Fourth Amendment to the Agreement and the execution thereof by the City. CITY COUNCIL OF CITY OF OKEECH:OBEE, FLORIDA I3 ATTEST: City Clerk Mayor (SEAL) 4%Wl INTERLOCAL AGREEMENT s Sept 5, 2017 Local Option Gas Tax THIS INTERLOCAL AGREEMENT dated this _ day ofAugust, 2017, ("Agreement") between Okeechobee County, Florida, political subdivision of the State of Florida ("County") and the City of Okeechobee, Florida, a municipal corporation of the State of Florida and located in the County ("City"). WHEREAS, Section 336.025, Florida Statutes, as amended and supplemented authorizes the levy by the County of up to six (6) cents of taxes upon every gallon of motor fuel and special fuel sold in the County and taxed under the provisions of Chapter 206, Florida Statutes, as amended and supplemented ("Local Option Gas Tax"); and WHEREAS, Section 336.021, Florida Statutes, as amended and supplemented authorizes the levy by the County a one (1) cent of local option gas tax upon every gallon of motor fuel sold in the County and taxed under the provisions of Chapter 206, Florida Statutes, as amended and supplemented ("Ninth" Cent Local Option Gas Tax"); and WHEREAS, Section 336.025(1)(b), Florida Statutes, as amended and supplemented authorizes the levy by the County up to five (5) cents of local option gas tax upon every gallon of motor fuel sold in the County and taxed under the provisions of Chapter 206, Florida Statutes, as amended and supplemented ("Five (5) Cent Local Option Gas Tax"); and WHEREAS Okeechobee County Ordinance No. 2017-_, was enacted July , 2017, extending until December 31, 2027 the levy all twelve (12) cents of the Local Option Gas Tax previously imposed; and WHEREAS, Section 336.025(1)(b)2., Florida Statutes, authorizes the establishment and renewal of an Interlocal Agreement between the County and the City to divide the proceeds of local option gas taxes between the County and the City; and WHEREAS, The County and City entered into Interlocal Agreements to address the distribution of the other local option gas taxes with the current agreement expiring on December 31, 2017; and WHEREAS, The County and City wish to enter into a renewal Interlocal Agreement for all twelve (12) cents of the local option gas taxes. NOW THEREFORE, in consideration of the mutual rights and responsibilities contained herein, the County and the City agree as follows. 1. That effective for revenue received January 1, 2018 and expiring December 31, 2027, the proceeds of the 4-cent Local Option Gas Tax shall be distributed be as follows: Recipient Share of Proceeds City of Okeechobee 19.34% County of Okeechobee 80.66% 7029-321917. WPD w Locai Option Gas Tax 2. That effective for revenue received January 1, 2018 and expiring December 31, 2027, the proceeds of the 2-cent Local Option Gas Tax shall be distributed be as follows: Recipient Share of Proceeds City of Okeechobee 19.34% County of Okeechobee 80.66% 3. That effective for revenue received January 1, 2018 and expiring December 31, 2027, the proceeds of the Ninth -cent Local Option Gas Tax shall be distributed be as follows: Recipient Share of Proceeds City of Okeechobee 0% Q �b County of Okeechobee 100% 4. That effective for revenue received January 1, 2018 and expiring December 31, 2027, the proceeds of the 5-cent Local Option Gas Tax shall be distributed be as follows: Recipient Share of Proceeds N J City of Okeechobee 19.34% County of Okeechobee 80.66% 5. That pursuant to section 336.025(1)(d), Florida Statutes, by the use of a percentage distribution rather than a fixed sum distribution, this Agreement is deemed to automatically adjust on a yearly basis. 'ki 6. This Agreement is effective upon adoption by both the County and City and shall expire upon receipt and disbursement of the December 31, 2027 gas tax revenue or August 31, 2018, whichever date is earlier, unless amended as provided herein. 7. That both the County and City hereby waive any claim or cause of action that may have accrued by virtue of any overpayment, underpayment or entitlement to motor fuel tax sharing and agree that the distribution percentages provided for herein are reasonable and in the best interest of the residents of the City and County. 8. That the County shall notify the Florida Department ofRevenue ofthis Interlocal Agreement as provided in Chapter 336, Florida Statutes and shall hold such public hearings as may be necessary to ensure this Agreement is consistent with existing county ordinances and resolutions. 9. The Agreement may be amended at any time by written instrument duly adopted and executed by both the County and City. This Agreement may be terminated provided written notice is provide to the non -terminating party no later than the first day of May of any give year to be effective the first day of January of the following year. 7029-321917.WPD Page 2 of 3 14W 1.r Local Option Gas Tax 10. This agreement may be executed in any number of counter parts, each of which shall constitute an original, altogether one and the same instrument. IN WITNESS WHEREOF, the County and the City have caused this Agreement to be executed on the clay and date first above written. ATTEST- BOARD OF COUNTY COMMISSIONERS OF --- OKEECHOBEE COUNTY, FLORIDA SHARON ROBERTSON, Oferk the BY: TE W. BURROU S, Chairman Circuit Court and Comptroller 6 ATTEST: LANE GAMIOTEA, CMC, City Clerk Approved as to form and Legal Sufficiency City Attorney CITY OF OKEECHOBEE, FLORIDA BY: DOWLING WATFORD, Mayor Approved as to form and Legal Sufficiency C my Attorney 7029-321917. WPD Page 3 of 3 .itii 1�1 Nwe City of Okeechobee To: Mayor & City Council From: Marcos Montes De Oca, City Administrator India Riedel, Finance Director RE: Florida Prime — Agenda Item # VII. D Attached are a few excerpts of literature as background information of the Florida Prime. Its website, https://www.sbafla.com/ rp ime/ has a host of information regarding their investments, oversight, committee agendas, minutes, Biennial Reports etc. r. 0■• Sys i f E ! II bf ! i $if Eii IlE �� P f F! nS` f' Ifi��•rr�� ♦f#ff,I /ff� f .Iff•MtnfN� �. Ap Oif fN�I 1lIE a FLOR I DA 0 r PIRRIMITM AN INVESTMENT SERVICE FOR PUBLIC FUNDS CONTENTS 3 Chairman's Message 5 Fund Governance 3 Facts -at -a -glance 7 Participant Concentration Data 4 Fund Governance 9 Cost Comparison 6 Investment Overview 9 Estimated Annual Expenses 6 Eligible Participants 10 24 Month Rolling Asset Growth 8 Interest Rates 11 Net Participant Yields 8 Investment. Policies 13 Performance Benchmarking 9 Pool Expenses 14 Historical Fund Performance 10 Net -Asset -Value Growth 15 Historical Participant Cash Flows 11 Participant Communications 16 Government Investment Pool Benchmarking 12 Annual Participant Surveys 16 Annual Fund Flow Cycle 17 Principal Stability Rating I- _ �w,„ ��„k c,nCeRcv'rEbV 18 Money Market Reforms 19 Council Recommendations 20 Part IV, Chapter218, Florida Statute Investment of Local Government Surplus Funds Act TRUSTEES Governor Rick Scott Attorney General Pam Bondi Chief Financial Officer Jeff Atwater PARTICIPANT LOCAL GOVERNMENT ADVISORY COUNCIL (PLGAC) Mark Peterson, Chair Doug Belden, Vice -Chair Patsy Heffner Amy Lovoy Gary Price Daniel Wolfson SBA EXECUTIVE DIRECTOR & CHIEF INVESTMENT OFFICER (CIO) Ash Williams I 2 1 PLGAC Biennial Report - 2017 FLORIDA PRIME AN INVESTMENT SERVICE FOR PUBLIC FUNDS CHAIRMAN'S MESSAGE On behalf of the Participant Local Governance Advisory Council (PLGAC), we are proud to present the 2017 Florida PRIME Biennial Report. We are honored to represent local governments across Florida and appreciate the confidence and trust you have placed with us. We will continue to make recommendations that are in the best interest of our local governments. As the highest performing, lowest cost statewide government investment pool, Florida PRIME offers exceptional service and value for its participating investors. The pool has continued to outperform all peer funds over the period of this report, while simultaneously maintaining full liquidity and safeguarding principal. Florida: PRIME's investment performance exceeds that of most other short-term investment alternatives, and has achieved exceptional levels relative to peer and market benchmarks. Florida PRIME continues to offer participants exceptional service, including best -in -class investor reporting, fell web functionality, superior customer service, and protective investment guidelines. Over the course of my service on the PLGAC, Florida PRIME has not only added alpha for its investors, but has also managed the credit risks on behalf of its customers. I'm grateful to the pool's investment partners at: the State Board of Administration and Federated Investors for their expertise and stewardship over the last two years. Mark Peterson, Financial: Accounting Supervisor, Brevard County Clerk of Court Chairman, Participant local Government Advisory Council (PLGAC) FACTS -AT -A -GLANCE STATISTICS Florida PRIME is an exclusive service for Florida governmental (As of December 31, 2016) organizations, providing a cost-effective investment vehicle for their surplus funds. Florida PRIME, the Local Government Surplus Funds Total Active Participants Trust Fund, is utilized by hundreds of governmental investors including state agencies, state universities and colleges, counties, cities, special districts, school boards, and other direct support organizations of the State of Florida. Total Market Value Florida PRIME is a government investment pool that offers management by an industry leader in professional money management, conservative investment policies, an extensive governance framework, a Standard & Poor's "AAAm" rating, full transparency, and best -in -class financial reporting. Total Number of Accounts 1,429 www.sbafIa.com/prime 13 FLORIDA' .� PRISE AN INVESTMENT SERVICE FOR PUBLIC FUNDS 2017 BIENNIAL REPORT This report has been developed pursuant to Section 218.409 (10)(b), Florida Statutes. According to this requirement, "The council shall prepare and submit a written biennial report to the board, trustees, the Investment Advisory Council, and the Joint Legislative Auditing Committee that describes the activities and recommendations of the council." Based on our oversight and governance efforts, the Council considers the Local Government Surplus Funds Trust Fund (branded as "Florida PRIME"), to be a very high quality investment option for its participants. This report provides an overview of the investment and operational activities since the Council's last Biennial Report in early 2015. In addition to this report, we invite readers to review the Florida PRIME website for additional information regarding the annual compliance and legal reviews, as well as all materials from historical Council meetings. Florida PRIME is overseen by several governing bodies, including the State Board of Administration Board of Trustees (Governor, Attorney General, and Chief Financial Officer), the Participant Local Government Advisory Council, the Investment Advisory Council, and the Florida Legislature. All three of the Trustees of the Board are elected statewide to their respective positions as Governor, Chief Financial Officer, and Attorney General. In November of 1942, the voters adopted a constitutional provision creating the State Board of Administration as a constitutional body, which succeeded to the power, control, and authority of the statutory Board of Administration. See the Florida Constitution of 1885, art. IX, §16. The initial duty of the State Board of Administration, as set forth in the relevant constitutional provisions, was to administer the Second Gas Tax. The Constitution further provides that the State Board of Administration ("Board" or "SBA") should also have "such �jAS THE LOWEST -COST AND HIGHEST YIELDING INVESTMENT POOL IN THE STATE, FLORIDA PRIME OFFERS ITS PARTICIPANTS AN OPTIMAL INVESTMENT VEHICLE, 4 1 PLGAC Biennial Report - 2017 AUDIT COMMITTEE SBA Chief of Internal Audit FUND GOVERNANCE INVESTMENT ADVISORY COUNCIL SBA. Investment Oversight Group powers as may be conferred upon it by law." The Board consists of three Trustees which have ultimate authority and oversight for the SBA's investment strategy. The Participant Local Government Advisory Council (the "Council") was created in 2008, through amendment to section 218 of the Florida Statutes. Members of the Council are appointed by the Board and are subject to confirmation by the Florida Senate. Members must possess special knowledge, experience, and familiarity obtained through active, long-standing, and material participation in the dealings of the investment pool. Members are appointed for four-year terms. A vacancy is filled for the remainder of the unexpired term. The Council annually elects a Chair and a Vice -Chair from its membership. A member may not be elected to consecutive terms as Chair or Vice -chair. The Council reviews the administration of the Florida PRIME and Fund B trust funds and makes recommendations regarding such administration to the SBA Trustees. The fund also undergoes independent annual financial audits, performed by the Auditor General's Office. FLORID PRIME AN INVESTMENT SERVICE FOR PUBLIC FUNDS PARTICIPANT LOCAL GOVERNMENT ADVISORY COUNCIL (PLGAC) I Joint Legislative Auditing i Committee Standard & Poor's I I State of Florida Auditor General Florida PRIME TM The Council, comprised of investor representatives, oversees the operational and investment related activities of the fund. Both the Council and the SBA's Investment Advisory Council (or "IAC") are responsible for review of the Florida PRIME Investment Policy Statement and any proposed changes prior to its presentation to the Trustees and will undertake other duties set forth in applicable Florida Law. The IAC reviews investments made by the staff of the SBA and makes recommendations regarding investment policy, strategy, and procedures. The IAC meets on a quarterly basis to discuss general investment policies and broad topics related to the general economic outlook. www.sbafIa.com/prime 1 5 FLORID111 r ! PRIME AN INVESTMENT SERVICE FOR PUBLIC FUNDS THE INVESTMENT OBJECTIVES OF FLORIDA PRIME ARE SAFETY OF PRINCIPAL, LIQUIDITY, AND COMPETITIVE RETURNS WITH MINIMAL RISK FOR PARTICIPANTS. Florida PRIME provides eligible participants a cost- effective investment vehicle r'or their surplus funds. its investment strategy emphasizes, in order of importance, preservation of capital (safety), liquidity, and competitive yield. Florida PRIME is managed by an industry leader in professional money management, maintains conservative investment policies and a Standard & Poor's `AAAm' rating. Florida PRIME has enhanced transparency and extensive governance oversight. Florida PRIME continues to offer participants exceptional service, including comprehensive reporting, extensive web functionality, and best practice standards for investment procedures and policies. Florida PRIME is governed by Chapters 215 and 218, Florida Statutes, and Chapter 19-7 of the Florida Administrative Code (collectively, "Applicable Florida Law"). The Trustees have delegated the administrative and investment authority to manage Florida PRIME to the Executive Director & CIO of the SBA, subject to applicable Florida law. Investment risk is managed by confining investments to a narrowly defined set of high quality, short duration "cash equivalent" instruments. Florida PRIME is managed consistent with SEC 2a-7 money market standards and the financial reporting requirements of Governmental Accounting Standards Board (GASB) Statement No. 79. Units of local eovernment eligibie to participate in Florida PRIME include, but are not limited to, any county, municipality, school district, special district, clerk of the circuit court, sheriff, property appraiser, tax collector, supervisor of elections, state university, state college, community college, public authority, board, government - sponsored corporations, or any other political subdivision or direct support organization of the state. As of December 31, 2016, Florida PRIME consisted of 1,429 investor accounts on behalf of 732 active participants. The table and charts on the next page provide detailed information on the proportion of pool assets owned by each participant type and their account value concentration. Among all participating governmental entities, the largest 10 participants account for 38.7 percent of total portfolio assets and 1.4 percent percentage of all participants, respectively. Counties and School Boards were the two largest constituencies, with combined assets representing 63.2 percent of total account values. 6 1 PLGAC Biennial Report - 2017 FLORIJ../rl PRIME AN INVESTMENT SERVICE FOR PUBLIC FUNDS PARTICIPANT CONCENTRATION DATA -AS OF DECEMBER 33, 2016 Participant Balance Share of Total Fund Share of Participant Count Participant Balance Share of Total Fund Share of Participant Count All Participants 100.0% 100.0% Colleges & Universities 3.8% 4.9% Top 10 38.7% 1.4% Top 10 3.4% 1.4% $100 million or more 57.6% 3.3% $100 million or more 1.8% 0.1% $10 million up to $100 million 35.8% 14.2% $10 million up to $100 million 1.4% 0.7% $1 million up to $10 million 6.1% 22.8% $1 million up to $10 million 0.6% 1.8% Under $1 million 0.5% 59.7% Under $1 million 0.02% 2.3% Counties 38.4% 7.5% Constitutional Officers 2.4% 7.5% Iop 10 29.4% 1.4°:, T3p 0.9`; 1.4°% $100 million or more 32.8% 1.8°ib $100 million or more 0.01;, 0.0% $10 million up to $100 million 5.2% 1.6% $10 million up to $100 million 1.8% 0.7% $1 million up to $10 million 0.4% 1.1% $1 million up to $10 million 0.6% 2.0% Under $1 million 0.0% 3.0% Under $1 million 0.0% 4.8% Municipalities 12.9% 28.1% Special Districts 13.2% 38.5% Top 10 6.3% 1.4% Top 10 8.6% 1.4% $100 million or more 1.0% 0.1% $100 million or more 4.2% 0.3% $10 million up to $100 million 9.9% 4.2% $10 million up to $100 million 7.2% 3.3% $1 million up to $10 million 1.9% 7.5% $1 million up to $10 million 1.5% 6.6% Under $1 million 0.2% 16.3% Under $1 million 0.2% 28.4% School Boards 24.8% 10.5% Other 4.4% 2.9% Top 10 19.9% 1.4% Top 10 3.9% 1.4% $100 million or more 16.6% 0.8% $100 million or more 1.3% 0.1% $10 million up to $100 million 7.3% 2.6% $10 million up to $100 million 2.9% 1.1% $1 million up to $10 million 0.9% 3.0% $1 million up to $10 million 0.2% 0.8% Under $1 million 0.0% 4.1% Under $1 million 0.0% 0.8% Participant Dollars Const. Other Officers 4 4 % 2.4 % Special gist. 13.2% Counties Colleges 38.4% 3 8% School. Boards 24.8% Cities 12.9% VOW Total Fund Value: $10,547,892,586 Active Participant Count Other 2.9% Countles 7.5% Special Dist /n 38.5 2Cities School Const. Boards icers 106% ;7.5% 1 Colleges 4.9 % Total Active Participant Count: 732 Note: Active accounts include only those participant accounts valued above zero. www.sbafia.com/prime 17 FLORIDA 0 PRIM AN INVESTMENT SERVICE FOR PUBLIC FUNDS During the two year period of 2015-2016, money market funds wound their way through two interest rate increases and the final implementation of SEC's money fund reforms. As a result, there were significant shifts in assets between government and prime money funds, with prime institutional vehicles shedding a little over $1 trillion in assets under management. The London interbank offered rate (LIBOR) increased significantly over the 2015-16 time frame, with 1- and 3-month rates rising from 17 to 77, and 25 to 100 bases points, respectively. In December 2015, the Federal Reserve took its customary two days to deliberate before releasing its decision to lift rates off near zero for the first time in seven years. One year later, the Fed increased the target range for the federal funds rate to between 0.5 percent and 0.75 percent. Florida PRIME successfully navigated the interest rate environment during this period and experienced an increase in assets, contradicting the larger decline among regulated money funds. Florida PRIME maintained an average thirty (30) day yield of 0.46 percent between January 2015 to the end of December 2016. Florida PRIME continues to hold high credit quality securities that provide liquidity, diversification, and access to capital. During the two year period of 2015-2016, the fund's assets increased by approximately $2.7 billion, representing a 34 percent increase in net asset value. As the pool's participant yield roughly doubled during calendar year 2016, participant earnings grew rapidly and totaled $43.6 million for the year —a growth rate of 145 percent over the 2015 figure. C The primary document governing the investment framework of Florida PRIME is its investment policy statement, or "IPS." Section 218.409 (2), F.S., requires an investment policy for Florida PRIME to be annually updated to conform with best investment practices. The investment policy must be reviewed by the Investment Advisory Council (IAC) and the Participant Local Government Advisory Council (PLGAC). l ne pool's IPS has been updated annually to incorporate industry best practices and maintain consistency with revisions to the SEC's Rule 2a-7 requirements. Rule 2a-7 was established to limit the risks that money market funds can take in an effort to provide investors safety of principal and liquidity. Florida PRIME has maintained its "2a-7-like" objective through strict risk controls attendant to the pool's investment management practices. In 2015, there were no changes made to the Florida PRIME IPS. In 2016, the IPS was amended in order to: 1) strengthen the limitation on investments in illiquid securities; 2) clarify that all portfolio assets are required to be U.S. dollar -denominated; and 3) add clarifying language and references throughout the document to conform with the new GASB 79 guidelines covering 2a-7-like government investment pools, as well as add clarifying language to distinguish between Rule 2a-7 and GASB 79 requirements. THE INVESTMENT POLICYSTATEMENT APPROPRIATELY CONSTRAINS FLORIDA PRIME TO INVEST IN SHORT-TERM AND HIGH QUALITYBONDS TO MINIMIZE BOTH INTEREST RATEAND CREDIT RISK. 8 1 PLGAC Biennial Report - 2017 M As the lowest -cost investment pool in the state, Florida PRIME offers the best value for governmental investors, with total fees that are a fraction of the cost of other investment options. The all -in fees of Florida PRIME are approximately one-fourth (1/4) those of its closest in -state competitor, are by far the lowest of any similar government investment pool ("GIP") in the State of Florida. Florida PRIME's fees are lower than most other GIPS nationwide and approximately only 1/10th the level of other institutional monev market Products, All investors are charged a uniform rate to participate in Florida PRIME. At the end of calendar year 2016, the fee charged to Florida PRIME investors was 2.86 basis points (or 0.0286 percent) of account value. The rate changes monthly to cover the cost of investment management, security custody, accounting, wire/banking services, fund record keeping, legal compliance, maintenance of a fund rating, and fiduciary oversight of the investment pool by the SBA. The actual pool fees charged to Florida PRIME investors are disclosed in each Monthly Summary Report. The SBA's portion of the fee is calculated based on the net - ESTIMATED ANNUAL EXPENSES as of January 1,1017 FLORIDA'M PRIME AN INVESTMENT SERVICE FOR PUBLIC FUNDS Industry Average t 30 Government Investment Pools t 16.5 National GIPs 1 11.6 Florida PRIME 2.9 Average basis point charges for: a) all prime institutional money market funds; b) all money market GIPS operating in the State of Florida; and c) all externally -managed government investment pools nationwide, as reported by iMoneyNet. asset -value ("NAV") of the investment pool at the end of each month, so the actual fee will rise or fail depending on the level of assets invested in the pool. The SBA's portion of the fee equals 1 basis point (or 0.01 percent). Accordingto the most recent iMoneyNet1m report on GIPS, the average total cost for all types of pools was 13.12 basis points. The average fee for GIPs classified as money market funds was 6.25 basis points. These fee levels, approaching two to four times the cost of Florida PRIME, are roughly commensurate with other statewide GIPS available to local governments in Florida, which range from 14 to 23 basis points depending on the specific level of temporary fee waiver in effect. Expenses Charged Directly to the Investment Pool S Estimate Basis Point Equivalent SBA Charges Investment Oversight and Transfer Agent Activities $800,000 1.00 Variable Costs Investment Management (Federated) 1,2 $1,200,000 1.50 BNY Mellon Custody 1 $90,000 0.11 BNY Accounting Fees $29,000 0.04 BOA Wire & Banking Services 3 $60,000 0.08 Fixed Costs Standard & Poor's (S&P) Rating Maintenance $45,000 0.06 AON Hewitt (Annual Investment Review) $47,551 0.06 Legal Compliance Review $15,000 0.02 TOTAL INVESTMENT & MANAGEMENT FEES $2,286,551 1 Assumption based on $8 billion market value for Florida PRIME. 2. Blended rate based on sliding scale with high of 3.5 basis points and low of 2.0 basis points and adjusted for underlying Federated Investors' money market fund holdings. 3 Actual fees charged depends on the volume of transactions (variable). www.sbafla.com/prime 19 FLORIDA r PRIM7M AN INVESTMENT SERVICE FOR PUBLIC FUNDS For the fiscal year ended June 30, 2016: • Net asset value as of June 30, 2016 totaled $7.84 billion. Participant contributions increased 2.4 percent compared with the prior fiscal year, while participant withdrawals decreased 3.5 percent, resulting in net contributions of $710.1 million. • Net income from investing activity increased S20.2 million over the prior fiscal year; resulting in an average participant yield for the fiscal year o+. 0.42 percent, which was higher than the average participant yield of 0.18 percent of the prior fiscal year. The increase in net income from investing activity was due to an increase in interest rates during the second half of the fiscal year, following the December 2015 target range rate increase announced by the Federal Reserve. • The number of active participants decreased by 1.9 percent, decreasing to 775 from 790. 24 MONTH ROLLING GROWTH RATE OF ASSETS S7,000X0,%Q $2,667,304,425.18 — ..__.. 16 ♦b 1b 1y lb 16 �6 )b 1b l5 1 # 16 1b Sb 0 yb tib �b yb 46 'Nb yb {� 41 it 41 CIa' 11 10 if�eQ P� s°r �' c'� Sd � Ile d° slsoaaoa.aoal. _. _ _ M For the prior fiscal year ended June 30, 2015: • Net asset value as of June 30, 2015 totaled $7.0 billion. Participant contributions increased 5.5 percent compared with the prior fiscal year, while participant withdrawals increased 5.6 percent, resulting in net participant contributions of $231.5 million. • Net income from investine activitv increased $444 million over the prior fiscal year, resulting in an average participant yield for the fiscal year of 0.18 percent, which was higher than the average participant yield of 0.17 percent of the prior fiscal year. • The number of active participants declined by 8.3 percent, decreasing from 862 to 790. FLORIDA PRIMEADHERES TO THE INVESTMENT REQUIREMENTS EMBEDDED IN SEC RULE 2A-T AS WELL AS GASB REGULATIONS, AND IS THEREFORE CATEGORIZED ASAN "2A-7LIKE" GOVERNMENT INVESTMENT POOL THAT MAINTAINSA STABLE NET -ASSET -VALUE, 10 1 PLGAC Biennial Report - 2017 Participant outreach and communications have been formalized to consistently address and advance investor interests. Since 2008, staff of both Federated Investors and the SBA have attended conferences and various meetings of local government associations and maintained extensive dialogue with individual participants. All communication efforts are evaluated for their effectiveness and any recurring issues are documented and evaluated by the SBA, Federated Investors, and the P! GA!. During 2015 and 2016, Federated staff, and less frequently staff of the SBA, continued to attend various conferences, continued sponsorships, and presentation of exhibits. Federated continued formal participant outreach and has applied financial resources towards promoting Florida PRIME among existing and prospective participants. One of the key investor reports is the Monthly Summary Report (MSR). The MSR continues to provide more information to its participants than any other governmental investment pool within the state and goes beyond the frequency and depth of disclosures required of an SEC -registered 2a-7 money market fund. FLORIDA PRIME Al INVESTMENT SERVICE FOR PUBLIC FUNDS Florida PRIME's MSR includes all investment transactions, investment holdings by security and type, short and long-term yield performance, and other material portfolio information. General communications and significant informational items are distributed to participants regularly, including monthly report summaries and other one-time disclosures or news items affecting participant accounts. Frequently, the SBA will distribute "eNotices" via e-mail.:,stsery covering significant operational or market events and announcements. 1 Year OA1% 0,21% 0.20% 3 Years 0.25% 0,11% 0.14% 5 Years 0.26% 0.100/0 0.16% 10 Years 1.29% 1.13% 0.21% 15Years _ 1.66% 1.45°l0 0.21% 20 Years 2.64% 2.44% 0.21% 25 Years 3.06% 2.87% 0.19% Note: All yields are annualized for periods indicated through June 30, 2016, yields are net of fees, and reflect the yield calculation pursuant to Chapter 19-7.01 I, Florida Administrative Code. Benchmark is the S&P AAA(AA Rated GIP Alf 30-day Net index for all time periods except the period July 1, L994 to March 1995 (8 rnonthsl, where an approximation using 1-Month LIBOR (London InterBank Offered Rate) was used. www.sbafIa.com/prime 111 FLORID. ,M PRIME AN INVESTevIENT SERVICE FOR PUBLIC FUNDS FLORIDA PRIME ISADEQUATELYDIVERSIFIED ACROSS ISSUERS WITHIN THE SHORT-TERM BOND MARKET, AND ADEQUATE LIQUIDITYEXISTS TO ADDRESS THE CASH FLOW OBLIGATIONS OF FLORIDA PRIME. The SBA conducts annual surveys of Florida PRIME participants to gain a better understanding of overall investor satisfaction, gauge interest in various enhancements contemplated for Florida PRIME, and obtain information on investors' usage of the website and other resources. The 2016 participant survey attracted 73 respondents, representing an approximate 10 percent response rate, slightly lower than the level of survey completion achieved for the 2015.survey,. A diversified group of governmental units responded to both the 2015 and 2016 surveys, ranging from colleges and universities, constitutional officers, counties, municipalities, school boards, and school districts, with approximately 64 percent indicating that they employ less than 1,000 employees and 51 percent indicating a level of cash assets available for short-term investment being greater than $10 million. Respondents continued to provide strong feedback related to the Florida PRIME website, with 76 percent indicating that they visit the website at least once a month, and 67 percent responding that they find its functionality very easy to use and 32 percent of respondents finding it somewhat easy to use. The survey indicated that participants continue to utilize the website primarily to access account balances and statements, to make transactions and to access the Monthly Summary Reports. Though phone representatives are seldom used, customer service continues to receive strong feedback with over 90 percent of respondents rating them very courteous, knowledgeable and responsive. The 2016 survey also posed questions related to how and why participants utilize other competing and complementary liquidity vehicles. The survey indicated that the most commonly used vehicle in addition to Florida PRIME are Certificates of Deposit offered by a bank, with aporoximateiv 33 Dercent indicating their use over the past 12 months, and consistent with previous surveys, roughly 35 percent have also used an SEC -registered money market fund (not offered by Federated, Florida PRIME's investment manager). When asked how competing investment services have added value to the respondent organizations' investment goals, 39 percent indicated that the yield level added value and 27 percent indicated value was added through offering other complimentary investment vehicles to choose from. When asked what is preventing an organization from using Florida PRIME as the primary source of cash management, 44 percent responded that a major or moderate reason was an unattractive yield level; however, 41 percent responded that the yield was not a reason at all. Approximately 44 percent responded that diversification needs of the cash portfolio were a major or moderate reason for not utilizing Florida PRIME as a primary source of cash, though 42 percent also responded this was not a reason at all. Further, approximately 84, 88 and 91 percent, respectively, of respondents indicated that costs being too high, participant disclosures not being adequate and poor client service, respectfully, were not at all reasons for not using Florida PRIME'" as a primary source of cash management. Overall, the survey results continue to be favorable regarding the operational and service related questions. Respondents indicated that they utilize the website fairly frequently and find it easy to use. Further respondents indicated the communications issued by the SBA are mostly useful as well. 12 1 PLGAC Biennial Report - 2017 C iFLOR1 DA PROME`" COMPARED TO 19, 3 MOWIT H U BOR RATES FLORIDA PRIME AN INVESTMENT SERVICE FOR PUBLIC FUNDS PERFORMANCE OF FLORIDA �j PRIME HAS BEEN STRONG OVER SHORT- AND LONG-TERM TIME PERIODS, OUTPERFORMING ITS PERFORMANCE BENCHMARK(` OVER THE TRAILING ONE-, THREE-, FIVE-, AND TEN-YEAR TIME PERIODS. PERFORMANCE SENCHMARKING - FLORIDA PRIME" COMPARED TO MONEY MARKET INDICES 1.00 030 0.90 a _N 0.70 7 G C !� 0.60 v m 0.50 d Z > 0,40 m m 0,30 0.20 0.10 0.00 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 ---Florida PRIME ---S&P AAA/AA GIP Net Index I iMoneyNet First Tier Instit Avg 3 Month T-Bill 1 Month LIBOR www.sbafla.com/prime 1 13 9FLORID. � • • PRIME AN INVESTMENT SERVICE FOR PUBLIC FUNDS For the fiscal year ending June 30, 2016, Florida PRIMET"' delivered an aggregate $33.5 million in investment earnings to its investors. Relative performance of Florida PRIMETm has been strong over short- and long-term time periods. For the period ending June 30, 2016, Florida PRIME TM generated excess returns (performance above the pool's benchmark) of approximately 20 basis points (0.2%) over the last 12 months,14 basis points (0.14%) over the last three years, and 16 basis points (0.16%) over the last five years. 10% 9% 8% 6% 5% 4% 3% 2% 1°% 0% �A h of u`1 O •-� YV � V � cA hCQ Lit O .a N th 'S Aff �L` h- [0 L1 O ^e N M V �f1 u7 ^i ti N O O O O 0 0 � O0 0 0� ON Fiscal Year Ending June 30 In 14 1 PLGAC Biennial Report - 2017 m Ah FLORIDA T--WPRIMF� AN INVESTMENT SERVICE FOR PUBLIC FUNS During the fiscal year ending June 30, 2016, participant deposits totaled $16.3 billion and participant withdrawals totaled $15.5 billion, for a net increase of approximately $786 million in the pool's net asset value. Over the 24 month period ending December 2016, Florida PRIME grew its assets by 34 percent n v tv, M 3'. M M Q v U M 14 �} M ifx v/1 if? ah �/1 iCr nf1Q�I1�lIl�� In �? u u u u u iR -M•! H �t! � N yj Vf w M U$i 'J u j(491 t"1 M 00 1jL1I' r m a N N ' $(691 w SI�I9j Fiscal N o M C o o a a -+ Year n m �"? * O �, Ca G1 O In 6 N n N N �^t :.5. t`� a N c� N c� N o N N o o N a N N c N N c N N o a N ci h! c N 6130 Market Value ($b) 514.9 $113.I >73.2 517.'7 $22.1 $34.3 S71 G.O $5.S $6.8 Ks $7.3 57,2 $7,0 �7..i 13Deposits ClWithdrawals oDistributedlnvestnientEarnings www.sbaf[a.com/prime 115 FLORIDAi • PRIME� AN MVESTIvtENT SERVICE FOR PUBLIC FUNDS GOVERNMENT INVESTMENT POOL ("GIP") BENCNMARKING S&P AAA/AA Florida PRIME'" 2a-7Like Govemment oardof StateStionIS (Local Government Surplus Funds GASB79 510,547 Investment 3 AAAm ESTlpm EST 732 Federated Investors Administration (SBA) Trust Fund) [10177] Compliant Pool (GIP) Net of Fees Florida Trust 2a-7 Like 3Mury IlatoT Florida Association of (D ay to Day Fu nd) (IRC Section 115 50.525 Treasury Bill 14 AAAm ESonth ES 12 Payden&Rygel Court Clerks& [Oil 091 Qualified Trust) Comptrollers(FACC) Florida Education Investment Trust 2a-7 Like Florida School Boards_ Fund(FEITF) (IRC Secuon115 10,377 intone; P;et tq, AAAro 2pn, 30 PFM Asset Assocation& [30(10] Qualified Trust) M M F Index ES. Management LLC Fiortla Association of District Superintendents Florida Surplus Asset Fund Trust S&P r.r 1pm Prudent Man Florida Management and (FLSAFE) Non 2a-7 SO.199 LGIP Index 23 AAAm EST 25 Advisors, Inc. Administrative Services [02108] (FMAS) Intergovernmental Florida Cooperative Liquid Assets Investment Pool, Securities System(FLCLASS) Non 2a-7 n/a n/a 15 AAAm 3pm n/a Public Trust Administered by [08/15] EST Advisors LLC Public Trust Advisors LLC. Net fund expense; including all temporary fee waivers. 2 Fund expense excluding custody, rating, and other operating charges not disclosed by fund. FLORIDA PRIME -ANNUAL FUND FLOW CYCLE $11,000 $10,000 $9,000 c 0 $8,000 m $7,000 LL $6,000 $5,000 $4,000 �a peso P Q,xm Ot' ode ¢tee -2016 -2015 16 1 PLGAC Biennial Report - 2017 a Since December 2007, Florida PRIME has maintained a "AAAm" fund rating from Standard & Poor's (S&P). A Stan- dard & Poor's Principal Stability fund rating, also known as a money-market fund rating, is a current assessment of a fund's capacity to maintain stable principal or net asset value. Standard & Poor's conducts weekly surveillance of the Florida PRIME portfolio and its ongoing investment characteristics. When assigning a Principal Stability rating to a fund, S&P evaluates the creditworthiness of a fund's investments and counter -parties, the market price exposure of its invest- ments, sufficiency of the fund's portfolio liquidity, and management's ability and policies to maintain the fund's stable net asset value by limiting exposure to loss. S&P believes, "funds that seek to maintain a stable net asset value should be managed conservatively with well-defined guidelines and investment policies (for example: within SEC Rule 2a-7 guidelines) with regard to average maturity, credit quality, and liquidity." Principal Stability fund ratings reflect a fund's ability to maintain principal stability and to limit exposure to losses due to credit, market, and/or liquidity risks. The rating cat- egories range from `AAAm' (extremely strong capacity to maintain principal stability and to limit exposure to prin- cipal losses due to credit, market, and/or liquidity risks) to `Dm' (failure to maintain principal stability resulting in a re- alized or unrealized loss of principal). The `m' distinguishes the Principal Stability fund ratings from Standard & Poor's traditional debt ratings. A& FLORIDA W-W PRIME AN INVESTMENT SERVICE FOR PUBLIC FUNDS The Local Government Surplus Funds Trust Fund is gov- erned by Part IV of Chapter 2.18, Florida Statutes [see Ap- pendix for full statutory content]. During fiscal years 2015 and 2016, Florida PRIME conducted statutorily required annual certifications covering both its legal compliance, as well as its investment practices. For the annual legal compliance review, an external law firm (Lewis, Long- man & Walker, PA) was tasked with evaluating the pool's compliance with Sections 218.40 through 218.422, Florida btatutes. For the annual investment best practice review, an exter- nal consultant (Hewitt EnnisKnupp) reported on the pool's operations and investment procedures. The results and reports were discussed at joint IAC and Council meetings in June 2015.and June 2016, and are posted on the pool's website. The pool is also subject to external financial audit, per- formed by the State of Florida Auditor General's office. The annual financial audit, in accordance with Governmental Auditing Standards issued by the Comptroller of the United States, reports on the fairness of the presentation of the financial statements prepared by the SBA. The Auditor General reports on its consideration of the SBA's internal control over financial reporting relating to Florida PRIME and on compliance with certain provisions of laws, rules, regulations, contracts, and other matters. The audits are conducted in net positions. The most recent financial audit, covering the 2016 fiscal year, was completed in January 2017 and sent directly to each participant by the Auditor General's office and posted on the Florida PRIME website. �] SINCE DECEMBER 2007, FLORIDA PRIME HAS MAINTAINED A AAAM' FUND RATING FROM STANDARD & POOR I (S&P), THE FIRMS HIGHEST PRINCIPAL STABILTITYFUND RATING. AS PART OF THIS RATING, S&P CONDUCTS WEEKLYSURVEILLANCE OF THE FLORIDA PRIME PORTFOLIO AND ITS ONGOING INVESTMENT CHARACTERISTICS. www.sbafla.com/prime 117 FLORIDA PRIME AN INVE5TNIENT SERVICE FOR PUBLIC FUNDS Over the last two years, the money market industry continued to face challenges including the most recent set of Rule 2a-7 reforms from the Securities & Exchange Commission (SEC). The SEC's reforms were originally approved in mid 2014 with a final implementation deadline of October 2016. The 2014 changes include some of the most significant amendments to Rule 2a-7 since the 1970's. including floating net asset values (NAV) Tor prime ano munrcipai money market funds held by institutional investors As part of AON Hewitt's Best Practice reviews over the last three years, continuing to stay apprised of Rule 2a-7 reforms was a key forward looking recommendation, aimed at keeping participant needs and best interests at the forefront of any future investment policy statement or operational changes. Because Florida PRIME is a government investment pool and is not legally required to be operated as a registered money market fund, it has the flexibility to adopt changes that are beneficial to participants and reject any that are not. As a direct result of the SEC money fund reforms, the industry made numerous changes to fund offerings and portfolio disclosures. Through its commitment to follow SEC Rule 2a-7 cash management standards, Florida PRIME has adopted many of the recent reforms and continues to earn Standard & Poor's "AAAm" rating —the highest quality rating assigned by Standard & Poor's. As a result of U.S. money market fund reforms, over $1 trillion in money fund assets moved out of prime funds and into government funds. Since late October 2015, prime institutional money market funds lost M approximately $861 billion in assets, primarily to government money funds. Additionally, many prime funds have been converted to government or other types of money funds due to concerns about the risks of liquidity fees and redemption gates now required by prime institutional funds. Fitch Ratings noted, "The substantial shrinking of US prime money market fund assets and the shift to government money funds as a result of US money fund reform has resulted in significant changes in short- term funding dynamics for global banks over the past year. runding profiies have shifted in some banks, with reduced commercial paper issuance and increased secured funding from government money funds." According to Fitch Ratings data, U.S. prime funds reduced lending to banks and their affiliates globally by $775 billion between October 2015 and September 2016. By the end of 2016, most prime funds began to stabilize their asset flows and once again pursued typical portfolio tactics such as extending maturities and minimizing liquidity in order to increase portfolio yield. According to iMoneyNet'" data, total US money market fund assets ended calendar year 2016 with $2.696 trillion, a year -over -year decline of 2.8 percent for all U.S. money- market fund assets. At the end of the 2016 calendar year, the top ten U.S. money fund investment organizations included Fidelity, JPMorgan, BlackRock, Goldman Sachs, Federated Investors, Charles Schwab, Dreyfus, Morgan Stanley, SSGA, and Wells Fargo. The industry continues to adjust to recently implemented rules and many pundits are cautiously optimistic on the forward outlook for regulatory easing. AON HEW/TT INVESTMENT CONSULTING, IN CONJUNCTION WITH SBA STAFF, COMPILES AN ANNUAL BEST PRACTICES REPORT THAT INCLUDES A FULL REVIEW OF THE INVESTMENT POLICYSTATEMENT, OPERATIONAL ITEMS, AND INVESTMENT STRUCTURE FOR FLORIDA PRIME. 18 1 PLGAC Biennial Report - 2017 En The 2016 Best Practices Review by AON Hewitt included recommendations to update Florida PRIME's investment policy statement to reflect the requirements of the Governmental Accounting Standards Board (GASB) Statement No. 79 (detailed previously on Page 8, "Investment Policies" section). These changes were incorporated into the current Florida PRIME IPS, approved by the SBA Trustees on August 2, 2016. The PLGAC. SBA and Federated Investors have continued to monitor various investment management and risk - management issues that may affect Florida PRIME. At this time, the PLGAC has only one operational or investment - related recommendation for Florida PRIME. Since its creation in fiscal year 2009, the PLGAC has achieved all of its objectives, including providing guidance and oversight for all of the pool's operations and investment activities. FLORIDA PRIMI M AN INVESTMENT SERVICE FOR PUBLIC FUNDS Notably, the PLGAC has overseen exceptional growth in assets under management. Since January 2009 through December 2016, Florida PRIME's investment portfolio increased by 86 percent, representing $4.9 billion in net -asset -value growth. In addition to its strong financial position, in September 2015 the legacy Fund B original principal amount was returned in full to pool participants alongside a significant proportion of the November 2007 interest earnings. In sum, Florida PRIME has been strengthened over the last 8 years, leading to the most competitive government investment pool in the State of Florida. For these reasons, Council members support efforts to discontinue the PLGAC while simultaneously maintaining all current risk controls, investment policies, and participant disclosures. To meet this recommendation, the PLGAC supports all efforts by SBA Trustees and staff to amend relevant statutory provisions in order to ensure the continued success of Florida PRIME in the future. THE SBA, FEDERATED INVESTORS AND FLORIDA PRIME PARTICIPANTS CONTINUE TO RECOGNIZE THE VALUE OF RECENT MONEYMARKET INDUSTRYREFORMS. THROUGH ITS COMMITMENT TO FOLLOW SEC RULE2A-7 CASH MANAGEMENT STANDARDS, FLORIDA PRIME EXHIBITS THE BEST COMBINATION OF PORTFOL IO RISK CONTROLS AND OPTIMIZED EARNINGS. www.sbafla.com/prime 1 19 FLORIDA 0 0 PRImt APPENDIX NN INVESTMENT SERVICE FOR PUBLIC FUNDS PART IV INVESTMENT OF LOCAL GOVERNMENT SURPLUS FUNDS ACT 218.40 Short title. 2,8.401 Purpose. 218.403 Definitions. 218.405 Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking. 218.407 Local government investment authority. 218.409 Administration of the trust fund, creation of advisory council. 218.417 Fund B Surplus Funds Trust Fund. 218.418 Definitions. 218.421 Fund B Surplus Funds Trust Fund; purpose; rulemaking; administration; reporting. 218.422 Fund B Surplus Funds Trust Fund; review. 216.40 Short title. — This part shall be known, and may be cited, as the "Investment of Local Government Surplus Funds Act." 218.401 Purpose. — It is the intent of this part to promote, through state assistance, the maximization of net interest earnings on invested surplus funds of local units of government, based on the principals of investor protection, mandated transparency, and proper governance, with the goal of reducing the need for imposing edditienp� taxes 218.403 Definitions. —The following words or terms, when used in this part, shall have the following meanings: (1) "Board" means the State Board of Administration. (2) "Chief Financial Officer" means the mayor, manager, administrator, clerk, comptroller, treasurer, director of finance, or other local government official, regardless of the title of his or her office, charged with administering the fiscal affairs of a unit of local government. (3) "Current expenses" means expenses to meet known cash needs and anticipated cash -flow requirements for the short term. (4) "GASB" means the Governmental Accounting Standards Board. (5) "GFOA" means the Government Finance Officers Association. (6) "Governing body" means the body or board in which the legislative power of a unit of local government is vested. (7) "Short term" means a maximum of 6 months of operation. (8) "Surplus funds" means any funds in any general or special account or fund of a unit of local government, or funds head by an independent trustee on behalf of a unit of local government, which in reasonable contemplation will not be Immediately needed for the purposes intended. (9) "Trust fund" means the pooled investment fund created by s. 218.405 and known as the Local Government Surplus Funds. Trust Fund. (10) "Trustees" mean the Trustees of the State Board of Administration. (11) "Unit of local government" means any governmental entity within the state not part of state government and shall include, but not be limited to, the following and the officers thereof: any county, municipality, school district, special district, clerk of the circuit court, sheriff, property ap- praiser, tax collector, supervisor of elections, authority, board, public corporations, or any other political subdivision of the state. 218.405 Local Government Surplus Funds Trust Fund; creation; objectives, certification; interest; rulemaking— (1) There is hereby created a Local Government Surplus Funds Trust Fund to be administered by the board and to be composed of local government surplus funds deposited therein by units of local government under the procedures established in this part. The board may contract with a profes- sional money management firm to manage the trust fund. (2) The primary objectives, in priority order; of investment activities shall be safety, liquidity, and competitive returns with minimization of risks. (3) The trustees shall annually certify to the Joint Legislative Auditing Committee that the trust fund is in compliance with the requirements of this part and that the trustees have conducted a review of the trust fund and determined that the management of the trust fund is in accord with best invest- ment practices. (4) The board may adopt rules to administer the provisions of this section. 218.407 Local government investment authority.-- (1) Prior to any determination by the governing body that it is in the interest of the unit of local government to deposit surplus funds in the trust fund, the board or a professional money manage- ment firm must provide to the governing body enrollment materials, including a trust fund profile containing impartial educational information describing the administration and investment policy of the trust fund, including, but not limited to: (a) All rights and conditions of participation, including potential restrictions on withdrawals. (b) The historical performance, investment holdings, credit quality, and average maturity of the trust fund investments. (c) The applicable administrative rules. (d) The rate determination processes for any deposit or withdrawal. (a) Any fees, charges, penalties, and deductions that apply to the account. (f) The most recently published financial statements or independent audits, if available, prepared under generally accepted accounting principles. (g) A disclosure statement for signature by the appropriate local government official. (2) Upon review of the enrollment materials and upon determination by the governing body that it is in the interest of the unit of local government to deposit surplus funds in the trust fund, a resolu- tion by the governing body and the signed acceptance of the disclosure statement by the local government official, who may be the chief financial or administrative officer of the local government, shall be filed with the board and, it appropriate, a copy shall be provided to a professional money management firm authorizing investment of its surplus funds in the trust fund established by this part. The resolution shall name: (a) The local government official, who may be the chief financial or administrative officer of the local government, or (b) An independent trustee holding funds on behalf of the unit of local government, responsible for deposit and withdrawal of such funds. (3) The board or a professional money management firm shall, upon the filing of the resolution, invest the moneys in the trust fund in the same manner and subject to the same restrictions as are set forth in s., 215.47. Alt units of local government that qualify to be participants in the trust fund shall have surplus funds deposited into a pooled investment account. (4) The provisions of this part shall not impair the power of a unit of local government to hold funds in deposit accounts with banking or savings institutions or to invest funds as otherwise authorized by law. 218.409 Administration of the trust fund; creation of advisory council— (1) Upon receipt of the items specified in s. 218.407 from the local governing body, the board or a professional money management firm shall accept all wire transfers of funds into the trust fund. The board or a professional money management firm shall also wire -transfer invested local government funds to the local government upon request of the local government official named in the resolution. (2)(a) The trustees shall ensure that the board or a professional money management firm admin- isters the trust fund on behalf of the participants. The board or a professional money management firm shall have the power to invest such funds in accordance with a written investment policy. The investment policy shall be updated annually to conform to best investment practices. The standard of prudence to be used by investment officials shall be the fiduciary standards as set forth in s. 215.47(9), which shall be applied in the context of managing an overall portfolio. Portfolio managers acting in accordance with written proceaures ane an investment policy and exercising due diligence shaft be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and the liquidity and the sale of securities are carried out in accordance with the terms of this part. (b) Officers andl employees involved in the investment process shall refrain from personal business activity that could conflict with the proper execution and management of the investment program or that could impair their ability to make impartial decisions. Employees and investment officials shall disclose any material interests in financial institutions with which they conduct business on behalf of the trust fund. They shall further disclose any personal financial or investment positions that could be related to the performance of the investment portfolio. Employees and officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the board. (c) The board or a professional money management firm and all employees have an affirmative duly to immediately disclose any material impact to the trust fund to the participants. To ensure such disclosure„ a system of internal controls shall be established by the board, which shall be documented in writing as part of the investment policy. The controls shall be designed to prevent. the loss of public funds arising from fraud, employee error, and misrepresentation by third parties, unanticipated changes in financial markets, or imprudent actions by employees and officers of the board or a professional money management firm. The controls shall also include formal escalation reporting guidelines for all employees. The guidelines shall establish procedures to address mate- rial impacts on the trust fund that require reporting and action. (d) The investment policy shall be reviewed and approved annually by the trustees or when market changes dictate, and in each event the investment policy shall be reviewed by the Investment Advisory Council and by the Participant Local Government Advisory Council. (3) The board or a professional money management firm may purchase such surety or other bonds as may be necessary for its officials in order to protect the trust fund. A reserve fund may be estab- lished to fulfill this purpose. However, any reserve must be a portion of the management fee and must be fully disclosed, including its purpose, in the enrollment materials at the time a unit of local government considers participation. Further, any change in the amount to be charged for a reserve must have a reasonable notice period to allow any participant. to withdraw from the trust. fund prior to the new reserve charge being imposed. (4) The board or a professional money management firm shall purchase investments for a pooled investment account in which all participants share pro rata in the capital gain, income, or losses, subject to any penalties for early withdrawal. Any provisions for penalties, including their purpose, must be disclosed in the enrollment materials. Any change in the amount to be charged for a penalty must have a reasonable notice period to allow any participant to withdraw from the trust fund prior to the new penalty charge being imposed. A system shall be developed by the board, and disclosed in the enrollment materials, subject to annual approval by the trustees, to keep account balances current and to apportion pooled investment earnings to individual accounts. (5) The board shall keep a separate account, designated by name and number of each participat- ing local government. A maximum number of accounts allowed for each participant may be estab- lished by the board. Individual transactions and totals of all investments, or the share belonging to each participant, shall be recorded in the accounts. (6)(a) The board or a professional money management firm shall provide a report, at a minimum monthly or upon the occurrence of a material event, to every participant having a beneficial interest in the trust fund„ the board's executive director, the trustees, the Joint Legislative Auditing Commit- tee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The report shall include: 1. Reports of any material impacts on the trust fund and any actions or escalations taken by staff to address such impacts. The trustees shall provide quarterly a report to the Joint Legislative Auditing Committee that the trustees have reviewed and approved the monthly reports and actions taken, if any, to address any impacts. 2. A management summary that provides an analysis of the status of the current investment portfo- lio and the individual transactions executed over the last month. This management summary shall be prepared in a manner that will allow anyone to ascertain whether investment activities during the reporting period have conformed to investment policies. Such reporting shall be in conformance with best market practices. The board or a professional money management firm shall furnish upon request the details of an investment transaction to any participant, the trustees, the Investment Advisory Council, and the Participant Local Government Advisory Council. (b) The market value of the portfolio shall be calculated daily. Withdrawals from the trust fund shall be based on a process that is transparent to participants and will ensure that advantages 20 1 PLGAC Biennial Report - 2017 fir✓ or disadvantages do not occur to parties making deposits or withdrawals on any particular day. A statement of the market value and amortized cost of the portfolio shall be issued to participants in conjunction with any deposits or withdrawals. In addition, this information shall be reported monthly with the items in paragraph (a) toparticipants, the trustees, the Investment Advisory Council, and the Participant Local Government Advisory Council. The review of the investment portfolio, in terms of value and price volatility, shall be performed with practices consistent with the GFOA Recommended Practice on "Mark -to -Market Practices for State and Local Government Investment Portfolios and Investment Pools." In defining market value, consideration shall be given to GASB Statement 31. Additional reporting may be made to pool participants through regular and frequent ongoing multimedia educational materials and communications, including, but not limited to, histori- cal performance, investment holdings, amortized cost and market value of the trust fund, credit quality, and average maturity of the trust fund investments. (7) Costs incurred in carrying out the provisions of this part shall be deducted from the interest earnings accruing to the trust fund. Such deductions shall be prorated among the participant local governments in the percentage that each participant's deposits bear to the total trust fund. The remaining interest earned shall be distributed monthly to participants according to the amount invested. Except for costs, the board or a professional money management firm may not transfer the interest or use the interest for any other purpose, including, but not limited to, making up invest- ment losses. (8)(a) The principal, and any part thereof, of each and every account constituting the trust fund shall be subject to payment at any time from the moneys in the trust fund. However, the executive director may, in good faith, on the occurrence of an event that has a material impact on liquidity or operations of the trust fund, for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the ooard can invest moneys entrusted to it in exercising its uauciary responsibiiity. Such action shall be immediately disclosed to all participants, the trustees, the Joint Legislative Au- diting Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The trustees shall convene an emergency meeting as soon as practicable from the time the executive director has instituted such measures and review the necessity of those measures. If the trustees agree with such measures, the trustees shall vote to continue the measures for up to an additional 15 days. The trustees must convene and vote to continue any such measures prior to the expiration of the time limit set, but in no case may the time limit set by the trustees exceed 15 days. (b) An order to withdraw funds may not be issued upon any account for a larger amount than the share of the particular account to which it applies; and if such order is, issued, the responsible official shall be personally liable under his or her bond for the entire overdraft resulting from the payment if made. (9) The Auditor General shall conduct an annual financial audit of the trust fund, which shall include testing for compliance with the Investment policy. The completed audit shall be provided to the participants, the board, the trustees, the Investment Advisory Council, the Participant Local Govern- ment Advisory Council, and the Joint Legislative Auditing Committee. As soon as practicable, but no later than 30 days after completion of the audit, the trustees shall report to the Joint Legislative Auditing Committee that the trustees have reviewed the audit of the trust fund and shall certify that any necessary items are being addressed by a corrective action plan that includes target comple- tion dates. (10)(a) There is created a six -member Participant Local Government Advisory Council for the purposes of regularly reviewing the administration of the trust fund and making recommendations regarding such administration to the trustees. The members ofthe council shall be appointed by the board and subject to confirmation by the Senate. Members must possess special knowledge, experience, and familiarity obtained through active, long-standing, and material participation in the dealings of the trust fund, Each member shall serve a 4-year term. Any vacancy shall be filled for the remainder of the unexpired term. The council shall annually elect a chair and vice chair from within its membership. A member may not serve consecutive terms as chair or vice chair. (b) The council shall prepare and submit a written biennial report to the board, trustees, the Invest- ment Advisory Council, and the Joint Legislative Auditing Committee that describes the activities and recommendations of the council. 218.417 Fund B Surplus Funds Trust Fund.— (1) There is created the Fund B Surplus Funds Trust Fund within the State Board of Administration. Funds credited to the trust fund shall consist of the investments, interest earned, and reserve in Fund B of the Local Government Surplus Funds Trust Fund. Those funds shall be transferred from the Local Government Surplus Funds Trust Fund to the Fund B Surplus Funds Trust Fund within 30 days after the effective date of this act. (2) Notwithstanding s. 216,301 and pursuant to s. 216.351, any balance in the trust fund at the end of the fiscal year shall remain in the fund and be available for carrying out the purposes of the trust fund. (3) Pursuant to the provisions of s. 19(fj(3), Art. III of the State Constitution, the Fund B Surplus Funds Trust Fund is exempt from the termination provisions of s. 19(f)(2), An. III of the State Con- stitution. The trust fund shall be terminated upon self -liquidation, if not terminated sooner by law. 218.418 Definitions — As used in ss. 218.421 and 218.422, the term: (1) "Board" means the State Board of Administration. (2) "Surplus funds" means any funds in any general or special account or fund of a unit of local government, or funds held by an independent trustee on behalf of a unit of local government, which in reasonable contemplation will not be immediately needed for the purposes intended. (3) "Trust fund" means the pooled investment fund known as the Fund B Surplus Funds Trust Fund. (4) "Trustees" means the Trustees of the State Board of Administration. (5) "Unit of local government" means any governmental entity within the state not part of state government and includes, but is not limited to, the following and the officers thereof: any county, municipality, school district, special district, clerk of the circuit court, sheriff, property appraiser, tax collector, supervisor of elections, authority, board, public corporation, or other political subdivision of the state. 218.421 Fund B Surplus Funds Trust Fund; purpose, rulemaking; administration; reporting.-- FLORIDA W-,w PRIME AN INVEST;NIENT SERVICE FOR PUBLIC FUNDS (1)(a) The purpose of the Fund B Surplus Funds Trust Fund is to maximize the payout of principal on invested surplus funds of units of local government formerly in Fund B of the Local Government Surplus Funds Trust Fund through a prudent work out of the trust fund with the ultimate goal of self- liquidating the trust fund through maturity and payout of the investments. (b) The State Board of Administration may adopt rules pursuant to ss. 120.536(1) and 120.54 to administer this section. (2)(a) The board or a professional money management firm shall administer the trust fund on behalf of the participants based on a written investment policy, approved by the trustees, and shall have the power to work out, restructure, or invest such funds, The trustees shall annually certify to the Joint Legislative Auditing Committee that the trustees have conducted a review of the trust fund and that the trust fund is in compliance with the requirements of this section. Any new investments must be made in money market or equivalent funds. The board or a professional money manage- ment firm shall keep a separate account, designated by name and number of each participating local government. Individual transactions and totals of all investments, or the share belonging to each participant, shall be recorded in the accounts. Any moneys accrued in the trust fund shall be subject to payment from the trust fund on a monthly basis to the trust fund participants according to their proportional interest in the trust fund so long as at least $100,000 is in the trust fund at the end of that month. After all securities have matured, been sold, or worked out, a final distribution shall be made to the participants in the trust fund. Participants may not conduct transactions in the trust fund. (b) The board or a professional money management firm and all employees of the board or firm have an affirmative duty to immediately disclose any material impact to the trust fund to the participants. To ensure such disclosure, a system of internal controls shall be established by the ooard, which shalt De aocumentea in writing as part of the investment policy. The controls shall be designed to prevent the loss of Dublic funds arising from fraud, employee error, and misrepresenta- tion by third parties, unanticipated changes in financial markets, or imprudent actions by employees and officers of the board or a professional money management firm. The controls shalll also include formal escalation reporting guidelines for all employees. The guidelines shall establish procedures to address material impacts on, the trust fund that require reporting and action. (c) The investment policy shalt be reviewed and approved by the trustees upon the transfer of the funds into the trust fund or when market changes dictate, and in each event„ the investment policy shall be reviewed by the Investment Advisory Council and by the Participant Local Government Advisory Council. (d) Costs incurred in carrying out the provisions of this section, which shall be prorated among the participants in the percentage that each participant's deposits bear to the total trust fund, may be deducted from any interest earned in the trust fund. The board or a professional money manage- ment firm may not transfer the interest or use the interest for any other purpose, including, but not limited to, making up investment losses. (e) After the trust fund self -liquidates, any remaining reserve may be transferred by, the trustees at their sole discretion back to the trust fund from which the assets were originally separated. (3)(a) The board or a professional money management firm shall provide a report at a minimum, monthly, or upon the occurrence of a material event, to every participant having a beneficial interest in the trust fund, the board's executive director, the trustees, the Joint Legislative Auditing Commit- tee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The report shall include: 1. Reports of any material impacts on the trust fund, and any actions or escalations taken by staff to address such impacts. The trustees shall provide quarterly a report to the Joint Legislative Auditing Committee that the trustees have reviewed and approved the monthly reports and actions taken, if any, to address any impacts. 2. A management summary that provides an analysis of the status of the current investment portfo- lio and the individual transactions executed over the last month. This management summary shall be prepared In a manner that will allow anyone to ascertain whether investment activities during the reporting period have conformed to investment policies. Such reporting shall be in conformance with best market practices. 3. The board or a professional money management firm shall furnish upon request the details of an investment transaction to any participant, the trustees, the Investment Advisory Council, and the Participant Local Government Advisory Council. (b) Additional reporting may be made to participants in the trust fund through regular and frequent ongoing multimedia educational materials and communications, including, but not limited to, histori- cal performance, investment holdings, amortized cost and market value of the trust fund, credit quality, and average maturity of the trust fund investments. (4) The trustees shall review the board's progress in returning the principal in the trust fund to the participants at each meeting of the board until the trust fund self -liquidates or is terminated by law. 218.422 Fund B Surplus Funds Trust Fund; review. -- Unless the Fund 8 Surplus Funds Trust Fund has been terminated by law or through self -liqui- dation, prior to the 2013 Regular Session of the Legislature, the Auditor General shall review the trust fund and the steps taken up to that time to return as much of the principal to the participants as possible and provide a summary report to the board, the trustees, the President. of the Senate, the Speaker of the House of Representatives, the Investment Advisory Council, and the Participant Local Government Advisory Council. Note. --Section 11, ch. 2008-59, provides that "[s]ections 218.418, 218.421, and 218.422, Florida Statutes, as created by this act, shall expire at the time the Fund B Surplus Funds Trust Fund is terminated by law or self -liquidates as determined and announced by the executive director of the State Board of Administration, whichever occurs first." www.sbafla.com/prime 1 21 lb a t Ijsell °a pM h 14 so in iS iM wr Hi wo •• 6 1 4p«.� ■ N. N. r' x 1 ProFLORIM Peer Funds Statewide PRIPKE Other funds offering Stable NAV ($1.00) Products S&PAAA/AA Florida PRIME "' 2a-7 Like Government (Local Government Surplus Funds GASB 79 S10.547 Investment 3 AAArn l 732 Federated Investors State Board Trust Fund) (10/77] Compliant Pool (GIP) ESSTT Administration (SBA) Net of Fees Florida Trust 2a-7 Like 3 Month llam Florida Association of (Day to Day Fund) (I RC Section 115 $0.525 Treasury Bill 14 AAAm EST 12 Payden & Rygel Court Clerks & [01/09] Qualified Trust) Comptrollers (FACC) Florida Education Investment Trust 2a-7 Like Florida School Boards Fund (FEITF) {IRC Section 115 $0.377 iMoneyNet 2pm la AAAm PFM Asset 10 Association & [SO/SO] Qualified Trust) MMF Index EST Management LLC Florida Association of District Superintendents Florida Surplus Asset Florida Management and Fund Trust Non 2a-7 $0.187 S&P 231,2 AAAm 1pm 25 Prudent Man Administrative Services (FLSAFE) LGIP Index EST Advisors , Inc. (FMAS) [02108] Intergovernmental Florida Cooperative Liquid Assets 3 Investment Pool, ESSTT Securities System (FLCLASS) Non 2a-7 n/a n/a 15 AAArn n/a Public Trust Administered by [08115] Advisors LLC Public Trust Advisors LLC 1 Net fund expense, including all temporary fee waivers. 2 Fund expense excluding custody, rating, and other operating charges not disclosed by fund. March 23, 201� P[_GAC Quarterly Meeting E 0 $10.5 billion (as of 12/30/16) 745 Participants 1,429 Accounts Paige Wilhelm Senior Vice President Senior Portfolio Manager Federated Investment Counseling • Weekly Market Commentary • Monthly Newsletter • Quarterly Review • Marketing Support Oct. 3-5 Florida Council of Business Affairs (COBA) (Tampa) Oct. 11-13 Florida Association of School Business Officials (FASBO) 50' Anniversary Conference (St. Augustine) Nov. 7-10 Florida School Finance Officers Association (FSFOA) (Tampa) Nov. 29 - Dec. 2 Florida School Boards/ Superintendents Joint Conference (Tampa Bay) Jan. 18-20 Florida Council of Business Affairs (COBA) (Daytona Beach) o � ^ FLORIDA LEAGUE OF CITIES, INC. March 23, 2017 PLGAC Quarterly Meeting `%Wf Attachment # 1 RESOLUTION WHEREAS, THE City of Okeechobee from time to time has funds on hand in excess of current needs, and WHEREAS, it is in the best interest of City of, Okeechobee _end its _ inhabitants that funds be invested to return the highest yield consistent with proper safeguards, NOW THEREFORE, BE IT RESOLVED AS FOLLOWS: 1. That the Finance Director or his/her designee, be, and he/she is hereby authorized to transmit such funds to the State Board of Administration to be invested according to applicable laws of the State of Florida consistent with the needs of City of Okeechobee_ Such authorization includes authority to withdraw funds from the State Board of Administration by giving timely notice and appropriate confirmation. 2. That this authorization shall be continuing in nature until revoked by the City of Okeechobee THIS RESOLUTION INTRODUCED and ADOPTED by the City of Okeechobee at its Regular Council meeting on June 8, 1982 See attached Seal t PART IV INVESTMENT OF LOCAL GOVERNMENT SURPLUS FUNDS 218.40 Short title. 218.401 Purpose. 218.403 Definitions. r�,►c��5111eluded In n I Nla� r Waiko/ Pam IV 218.405 Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking. 218.407 Local government investment authority. 218.409 Administration of the trust fund; creation of advisory council. 218.411 Authorization for state technical and advisory assistance. 218.412 Rulemaking authority. 218.415 Local government investment policies. 218.417 Fund B Surplus Funds Trust Fund. 218.418 Definitions, 218.421 Fund B Surplus Funds Trust Fund; purpose; rulemaking; administration; reporting. 218.422 Fund B Surplus Funds Trust Fund; review. 218.40 Short title. --This part shall be known, and may be cited, as the "Investment of Local Government Surplus Funds Act." History.--s. 1, ch. 77-394. 218.401 Purpose. --It is the intent of this part to promote, through state assistance, the maximization of net,interest earnings on invested surplus funds of local units of government, based on the principals of investor protection, mandated transparency, and proper governance, with the goal of reducing the need for imposing additional taxes. History.--s. 1, ch. 77-394; s. 1, ch. 2008-59. 218.403 Definitions. --The following words or terms, when used in this part, shall have the following meanings: , (1) 'Board" means the State Board of Administration. (2) "Chief Financial Officer" means the mayor, manager, administrator, clerk, comptroller, treasurer, director of finance, or other local government official, regardless of the title of his or her office, charged with administering the fiscal affairs of a unit of local government. (3) "Current expenses" means expenses to meet known cash needs and anticipated cash -flow requirements for the short term. (4) "GASB" means the Governmental Accounting Standards Board. (5) "GFOA" means the Government Finance Officers Association. (6) "Governing body" means the body or board in which the legislative power of a unit of local government is vested. (7) "Short term" means a maximum of 6 months of operation. (8) "Surplus funds" means any funds in any general or special account or fund of a unit of local government, or funds held by an independent trustee on behalf of a unit of local government, which in reasonable contemplation will not be immediately needed for the purposes intended. (9) 'Trust fund" means the pooled investment fund created by s. 218.405 and known as the Local Government Surplus Funds Trust Fund. (10) 'Trustees" mean the Trustees of the State Board of Administration. (11) "Unit of local government" means any governmental entity within the state not part of state government and shall include, but not be limited to, the following and the officers thereof: any county, municipality, school district, special district, clerk of the circuit court, sheriff, property appraiser, tax collector, supervisor of elections, authority, board, public corporations, or any other political subdivision of the state. History.--s. 1, ch. 77-394; s. 4, ch. 87-239; s. 1178, ch. 95-147; s. 5, ch. 95-194; s. 1, ch. 97-9; s. 2, ch. 2008-59. 218.405 Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking.-- (1) There is hereby created a Local Government Surplus Funds Trust Fund to be administered by the board and to be composed of local government surplus funds deposited therein by units of local government under the procedures established in this part. The board may contract with a professional money management firm to manage the trust fund. (2) The primary objectives, in priority order, of investment activities shall be safety, liquidity, and competitive returns with minimization of risks. (3) The trustees shall annually certify to the Joint Legislative Auditing Committee that the trust fund is in compliance with the requirements of this part and that the trustees have conducted a review of the trust fund and determined that the management of the trust fund is in accord with best investment practices. (4) The board may adopt rules to administer the provisions of this section. History.--s. 1, ch. 77-394; s. 3, ch. 98-124; s. 3, ch. 2008-59. 218.407 Local government investment authority.-- (1) Prior to any determination by the governing body that it is in the interest of the unit of local government to deposit surplus funds in the trust fund, the board or a professional money management firm must provide to the governing body enrollment materials, including a trust fund profile containing impartial educational information describing the administration and investment policy of the trust fund, including, but not limited to: (a) All rights and conditions of participation, including potential restrictions on withdrawals. (b) The historical performance, investment holdings, credit quality, and average maturity of the trust fund investments. (c) The applicable administrative rules. (d) The rate determination processes for any deposit or withdrawal. (e) Any fees, charges, penalties, and deductions that apply to the account. (f) The most recently published financial statements or independent audits, if available, prepared under generally accepted accounting principles. (g) A disclosure statement for signature by the appropriate local government official. (2) Upon review of the enrollment materials and upon determination by the governing body that it is in the interest of the unit of local government to deposit surplus funds in the trust fund, a resolution by the governing body and the signed acceptance of the disclosure statement by the local government official, who may be the chief financial or administrative officer of the local government, shall be filed with the board and, if appropriate, a copy shall be provided to a professional money management firm authorizing investment of its surplus funds in the trust fund established by this part. The resolution shall name: (a) The local government official, who may be the chief financial or administrative officer of the local government, or (b) An independent trustee holding funds on behalf of the unit of local government, responsible for deposit and withdrawal of such funds. (3) The board or a professional money management firm shall, upon the filing of the resolution, invest the moneys in the trust fund in the same manner and subject to the same restrictions as are set forth in s. 215.47. All units of local government that qualify to be participants in the trust fund shall have surplus funds deposited into a pooled investment account. (4) The provisions of this part shall not impair the power of a unit of local government to hold funds in deposit accounts with banking or savings institutions or to invest funds as otherwise authorized by law. History.--s. 1, ch. 77-394; s. 6, ch. 82-45; s. 3, ch. 84-137; s. 5, ch. 87-239; s. 9, ch. 98-47; S. 4, ch. 98-124; s. 4, ch. 2008-59. 218.409 Administration of the trust fund; creation of advisory council. (1) Upon receipt of the items specified in s. 218.407 from the local governing body, the board or a professional money management firm shall accept all wire transfers of funds into the trust fund. The board or a professional money management firm shall also wire -transfer invested local government funds to the local government upon request of the local government official named in the resolution. (2)(a) The trustees shall ensure that the board or a professional money management firm administers the trust fund on behalf of the participants. The board or a professional money management firm shall have the power to invest such funds in accordance with a written investment policy. The investment policy shall be updated annually to conform to best investment practices. The standard of prudence to be used by investment officials shall be the fiduciary standards as set forth in s. 215.47(9), which shall be applied in the context of managing an overall portfolio. Portfolio managers acting in accordance with written procedures and an investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and the liquidity and the sale of securities are carried out in accordance with the terms of this part. (b) Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with the proper execution and management of the investment program or that could impair their ability to make impartial decisions. Employees and investment officials shall disclose any material interests in financial institutions with which they conduct business on behalf of the trust fund. They shall further disclose any personal financial or investment positions that could be related to the performance of the investment portfolio. Employees and officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the board. (c) The board or a professional money management firm and all employees have an affirmative duty to immediately disclose any material impact to the trust fund to the participants. To ensure such disclosure, a system of internal controls shall be established by the board, which shall be documented in writing as part of the investment policy. The controls shall be designed to prevent the loss of public funds arising from fraud, employee error, and misrepresentation by third parties, unanticipated changes in financial markets, or imprudent actions by employees and officers of the board or a professional money management firm. The controls shall also include formal escalation reporting guidelines for all employees. The guidelines shall establish procedures to address material impacts on the trust fund that require reporting and action. (d) The investment policy shall be reviewed and approved annually by the trustees or when market changes dictate, and in each event the investment policy shall be reviewed by the Investment Advisory Council and by the Participant Local Government Advisory Council. (3) The board or a professional money management firm may purchase such surety or other bonds as may be necessary for its officials in order to protect the trust fund. A reserve fund may be established to fulfill this purpose. However, any reserve must be a portion of the management fee and must be fully disclosed, including its purpose, in the enrollment materials at the time a unit of local government considers participation. Further, any change in the amount to be charged for a reserve must have a reasonable notice period to allow any participant to withdraw from the trust fund prior to the new reserve charge being imposed. (4) The board or a professional money management firm shall purchase investments for a pooled investment account in which all participants share pro rata in the capital gain, income, or losses, subject to any penalties for early withdrawal. Any provisions for penalties, including their purpose, must be disclosed in the enrollment materials. Any change in the amount to be charged for a penalty must have a reasonable notice period to allow any participant to withdraw from the trust fund prior to the new penalty charge being imposed. A system shall be developed by the board, and disclosed in the enrollment materials, subject to annual approval by the trustees, to keep account balances current and to apportion pooled investment earnings to individual accounts. (5) The board shall keep a separate account, designated by name and number of each participating local government. A maximum number of accounts allowed for each participant may be established by the board. Individual transactions and totals of all investments, or the share belonging to each participant, shall be recorded in the accounts. (6)(a) The board or a professional money management firm shall provide a report, at a minimum monthly or upon the occurrence of a material event, to every participant having a beneficial interest in the trust fund, the board's executive director, the trustees, the Joint Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The report shall include: 1. Reports of any material impacts on the trust fund and any actions or escalations taken by staff to address such impacts. The trustees shall provide quarterly a report to the Joint Legislative Auditing Committee that the trustees have reviewed and approved the monthly reports and actions taken, if any, to address any impacts. 2. A management summary that provides an analysis of the status of the current investment portfolio and the individual transactions executed over the last month. This management summary shall be prepared in a manner that will allow anyone to ascertain whether investment activities during the reporting period have conformed to investment policies. Such reporting shall be in conformance with best market practices. The board or a professional money management firm shall furnish upon request the details of an investment transaction to any participant, the trustees, the Investment Advisory Council, and the Participant Local Government Advisory Council. (b) The market value of the portfolio shall be calculated daily. Withdrawals from the trust fund shall be based on a process that is transparent to participants and will ensure that advantages or disadvantages do not occur to parties making deposits or withdrawals on any particular day. A statement of the market value and amortized cost of the portfolio shall be issued to participants in conjunction with any deposits or withdrawals. In addition, this information shall be reported monthly with the items in paragraph (a) to participants, the trustees, the Investment Advisory Council, and the Participant Local Government Advisory Council. The review of the investment portfolio, in terms of value and price volatility, shall be performed with practices consistent with the GFOA Recommended Practice on "Mark -to -Market Practices for State and Local Government Investment Portfolios and Investment Pools." In defining market value, consideration shall be given to GASB Statement 31. Additional reporting may be made to pool participants through regular and frequent ongoing multimedia educational materials and communications, including, but not limited to, historical performance, investment holdings, amortized cost and market value of the trust fund, credit quality, and average maturity of the trust fund investments. (7) Costs incurred in carrying out the provisions of this part shall be deducted from the interest earnings accruing to the trust fund. Such deductions shall be prorated among the participant local governments in the percentage that each participant's deposits bear to the total trust fund. The remaining interest earned shall be distributed monthly to participants according to the amount invested. Except for costs, the board or a professional money management firm may not transfer the interest or use the interest for any other purpose, including, but not limited to, making up investment losses. (8)(a) The principal, and any part thereof, of each and every account constituting the trust fund shall be subject to payment at any time from the moneys in the trust fund. However, the executive director may, in good faith, on the occurrence of an event that has a material impact on liquidity or operations of the trust fund, for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the board can invest moneys entrusted to it in exercising its fiduciary responsibility. Such action shall be immediately disclosed to all participants, the trustees, the Joint Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The trustees shall convene an emergency meeting as soon as practicable from the time the executive director has instituted such measures and review the necessity of those measures. If the trustees agree with such measures, the trustees shall vote to continue the measures for up to an additional 15 days. The trustees must convene and vote to continue any such measures prior to the expiration of the time limit set, but in no case may the time limit set by the trustees exceed 15 days. (b) An order to withdraw funds may not be issued upon any account for a larger amount than the share of the particular account to which it applies; and if such order is issued, the responsible official shall be personally liable under his or her bond for the entire overdraft resulting from the payment if made. (9) The Auditor General shalt conduct an annual financial audit of the trust fund, which shall include testing for compliance with the investment policy. The completed audit shall be provided to the participants, the board, the trustees, the Investment Advisory Council, the Participant Local Government Advisory Council, and the Joint Legislative Auditing Committee. As soon as practicable, but no later than 30 days after completion of the audit, the trustees shall report to the Joint Legislative Auditing Committee that the trustees have reviewed the audit of the trust fund and shall certify that any necessary items are being addressed by a corrective action plan that includes target completion dates. (10)(a) There is created a six -member Participant Local Government Advisory Council for the purposes of regularly reviewing the administration of the trust fund and making recommendations regarding such administration to the trustees. The members of the council shall be appointed by the board and subject to confirmation by the Senate. Members must possess special knowledge, experience, and familiarity obtained through active, long-standing, and material participation in the dealings of the trust fund. Each member shall serve a 4-year term. Any vacancy shall be filled for the remainder of the unexpired term. The council shall annually elect a chair and vice chair from within its membership. A member may not serve consecutive terms as chair or vice chair. (b) The council shalt prepare and submit a written biennial report to the board, trustees, the Investment Advisory Council, and the Joint Legislative Auditing Committee that describes the activities and recommendations of the council. History.--s. 1, ch. 77-394; s. 4, ch. 84-137; s. 1179, ch. 95-147; s. 5, ch. 98-124; s. 5, ch. 2008- 59. 218.411 Authorization for state technical and advisory assistance.-- (1) The board is authorized, upon request, to assist local governments in investing funds that are temporarily in excess of operating needs by: (a) Explaining investment opportunities to such local governments through publication and other appropriate means. (b) Acquainting such local governments with the states practice and experience in investing short-term funds. (c) Providing, in cooperation with the Department of Community Affairs, technical assistance to local governments in investment of surplus funds. (2) The board may establish fees to cover the cost of such services, which shall be paid by the unit of local government requesting such service. Such fees shall be deposited to the credit of the appropriation or appropriations from which the costs of providing the services have been paid or are to be charged. History.--s. 1, ch. 77-394; s. 20, ch. 81-167; s. 18, ch. 83-55; s. 6, ch. 2008-59. 218.412 Rulemaking authority. --The board may adopt rules as it deems necessary to carry out the provisions of this part for the administration of the trust fund. History.--s. 12, ch. 98-47; s. 7, ch. 2008-59. 218.415 Local government investment policies. --Investment activity by a unit of local government must be consistent with a written investment plan adopted by the governing body, or in the absence of the existence of a governing body, the respective principal officer of the unit of local government and maintained by the unit of local government or, in the alternative, such activity must be conducted in accordance with subsection (17). Any such unit of local government shall have an investment policy for any public funds in excess of the amounts needed to meet current expenses as provided in subsections (1)-(16), or shall meet the alternative investment guidelines contained in subsection (17). Such policies shall be structured to place the highest priority on the safety of principal and liquidity of funds. The optimization of investment returns shall be secondary to the requirements for safety and liquidity. Each unit of local government shall adopt policies that are commensurate with the nature and size of the public funds within its custody. (1) SCOPE. --The investment policy shall apply to funds under the control of the unit of local government in excess of those required to meet current expenses. The investment policy shall not apply to pension funds, including those funds in chapters 175 and 185, or funds related to the issuance of debt where there are other existing policies or indentures in effect for such funds. (2) INVESTMENT OBJECTIVES. --The investment policy shall describe the investment objectives of the unit of local government. Investment objectives shall include safety of capital, liquidity of funds, and investment income, in that order. (3) PERFORMANCE MEASUREMENT. --The investment policy shall specify performance measures as are appropriate for the nature and size of the public funds within the custody of the unit of local government. (4) PRUDENCE AND ETHICAL STANDARDS. --The investment policy shalt describe the level of prudence and ethical standards to be followed by the unit of local government in carrying out its investment activities with respect to funds described in this section. The unit of local government shall adopt the Prudent Person Rule, which states that: "Investments should be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived from the investment." (5) LISTING OF AUTHORIZED INVESTMENTS. --The investment policy shall list investments authorized by the governing body of the unit of local government, subject to the provisions of subsection (16). Investments not listed in the investment policy are prohibited. If the policy authorizes investments in derivative products, the policy must require that the unit of local government's officials responsible for making investment decisions or chief financial officer have developed sufficient understanding of the derivative products and have the expertise to manage them. For purposes of this subsection, a "derivative" is defined as a financial instrument the value of which depends on, or is derived from, the value of one or more underlying assets or index or asset values. If the policy authorizes investments in reverse repurchase agreements or other forms of leverage, the policy must limit the investments to transactions in which the proceeds are intended to provide liquidity and for which the unit of local government has sufficient resources and expertise. (6) MATURITY AND LIQUIDITY REQUIREMENTS. --The investment policy shall require that the investment portfolio is structured in such manner as to provide sufficient liquidity to pay obligations as they come due. To that end, the investment policy should direct that, to the extent possible, an attempt will be made to match investment maturities with known cash needs and anticipated cash -flow requirements. (7) PORTFOLIO COMPOSITION. --The investment policy shall establish guidelines for investments and limits on security issues, issuers, and maturities. Such guidelines shall be commensurate with the nature and size of the public funds within the custody of the unit of local government. (8) RISK AND DIVERSIFICATION. --The investment policy shall provide for appropriate diversification of the investment portfolio. Investments held should be diversified to the extent practicable to control the risk of loss resulting from overconcentration of assets in a specific maturity, issuer, instrument, dealer, or bank through which financial instruments are bought and sold. Diversification strategies within the established guidelines shall be reviewed and revised periodically, as deemed necessary by the appropriate management staff. (9) AUTHORIZED INVESTMENT INSTITUTIONS AND DEALERS. --The investment policy should specify the authorized securities dealers, issuers, and banks from whom the unit of local government may purchase securities. (10) THIRD -PARTY CUSTODIAL AGREEMENTS. --The investment policy shall provide appropriate arrangements for the holding of assets of the unit of local government. Securities should be held with a third party; and all securities purchased by, and all collateral obtained by, the unit of local government should be properly designated as an asset of the unit of local government. No withdrawal of securities, in whole or in part, shall be made from safekeeping, except by an authorized staff member of the unit of local government. Securities transactions between a broker -dealer and the custodian involving purchase or sale of securities by transfer of money or securities must be made on a "delivery vs. payment" basis, if applicable, to ensure that the custodian will have the security or money, as appropriate, in hand at the conclusion of the transaction. (11) MASTER REPURCHASE AGREEMENT. --The investment policy shall require all approved institutions and dealers transacting repurchase agreements to execute and perform as stated in the Master Repurchase Agreement. All repurchase agreement transactions shall adhere to the requirements of the Master Repurchase Agreement. (12) BID REQUIREMENT. --The investment policy shall require that the unit of local government's staff determine the approximate maturity date based on cash -flow needs and market conditions, analyze and select one or more optimal types of investment, and competitively bid the security in question when feasible and appropriate. Except as otherwise required by law, the bid deemed to best meet the investment objectives specified in subsection (2) must be selected. (13) INTERNAL CONTROLS. --The investment policy shall provide for a system of internal controls and operational procedures. The unit of local government's officials responsible for making investment decisions or chief financial officer shall establish a system of internal controls which shall be in writing and made a part of the governmental entity's operational procedures. The investment policy shall provide for review of such controls by independent auditors as part of any financial audit periodically required of the unit of local government. The internal controls should be designed to prevent losses of funds which might arise from fraud, employee error, misrepresentation by third parties, or imprudent actions by employees of the unit of local government. (14) CONTINUING EDUCATION. --The investment policy shall provide for the continuing education of the unit of local government's officials responsible for making investment decisions or chief financial officer. Such officials must annually complete 8 hours of continuing education in subjects or courses of study related to investment practices and products. (15) REPORTING. --The investment policy shall provide for appropriate annual or more frequent reporting of investment activities. To that end, the governmental entity's officials responsible for making investment decisions or chief financial officer shall prepare periodic reports for submission to the legislative and governing body of the unit of local government, which shall include securities in the portfolio by class or type, book value, income earned, and market value as of the report date. Such reports shall be available to the public. (16) AUTHORIZED INVESTMENTS; WRITTEN INVESTMENT POLICIES. --Those units of local government electing to adopt a written investment policy as provided in subsections (1)-(15) may by resolution invest and reinvest any surplus public funds in their control or possession in: (a) The Local Government Surplus Funds Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act of 1969, as provided in s. 163.01. (b) Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency. (c) Interest -bearing time deposits or savings accounts in qualified public depositories as defined in s. 280.02. (d) Direct obligations of the United States Treasury. (e) Federal agencies and instrumentalities. (f) Rated or unrated bonds, notes, or instruments backed by the full faith and credit of the government of Israel. (g) Securities of, or other interests in, any open-end or closed -end management -type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. ss. 80a-1 et seq., as amended from time to time, provided that the portfolio of such investment company or investment trust is limited to obligations of the United States Government or any agency or instrumentality thereof and to repurchase agreements fully collateralized by such United States Government obligations, and provided that such investment company or investment trust takes delivery of such collateral either directly or through an authorized custodian. (h) Other investments authorized by law or by ordinance for a county or a municipality. (i) Other investments authorized by law or by resolution for a school district or a special district. (17) AUTHORIZED INVESTMENTS; NO WRITTEN INVESTMENT POLICY. --Those units of local government electing not to adopt a written investment policy in accordance with investment policies developed as provided in subsections (1)-(15) may invest or reinvest any surplus public funds in their control or possession in: (a) The Local Government Surplus Funds Trust Fund, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act of 1969, as provided in s. 163.01. (b) Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency. (c) Interest -bearing time deposits or savings accounts in qualified public depositories, as defined in s. 280.02. (d) Direct obligations of the U.S. Treasury. The securities listed in paragraphs (c) and (d) shall be invested to provide sufficient liquidity to pay obligations as they come due. (18) SECURITIES; DISPOSITION. -- (a) Every security purchased under this section on behalf of the governing body of a unit of local government must be properly earmarked and: 1. If registered with the issuer or its agents, must be immediately placed for safekeeping in a location that protects the governing body's interest in the security; 2. If in book entry form, must be held for the credit of the governing body by a depository chartered by the Federal Government, the state, or any other state or territory of the United States which has a branch or principal place of business in this state as defined in s. 658.12, or by a national association organized and existing under the laws of the United States which is authorized to accept and execute trusts and which is doing business in this state, and must be kept by the depository in an account separate and apart from the assets of the financial institution; or 3. If physically issued to the holder but not registered with the issuer or its agents, must be immediately placed for safekeeping in a secured vault. (b) The unit of local government's governing body may also receive bank trust receipts in return for investment of surplus funds in securities. Any trust receipts received must enumerate the various securities held, together with the specific number of each security held. The actual securities on which the trust receipts are issued may be held by any bank depository chartered by the Federal Government, this state, or any other state or territory of the United States which has a branch or principal place of business in this state as defined in s. 658.12, or by a national association organized and existing under the laws of the United States which is authorized to accept and execute trusts and which is doing business in this state. (19) SALE OF SECURITIES. --When the invested funds are needed in whole or in part for the purposes originally intended or for more optimal investments, the unit of local government's governing body may sell such investments at the then -prevailing market price and place the proceeds into the proper account or fund of the unit of local government. (20) PREEXISTING CONTRACT. --Any public funds subject to a contract or agreement existing on October 1, 2000, may not be invested contrary to such contract or agreement. (21) PREEMPTION. --Any provision of any special act, municipal charter, or other law which prohibits or restricts a local governmental entity from complying with this section or any rules adopted under this section is void to the extent of the conflict. (22) AUDITS. --Certified public accountants conducting audits of units of local government pursuant to s. 218.39 shall report, as part of the audit, whether or not the unit of local government has complied with this section. (23) AUTHORIZED DEPOSITS. --In addition to the investments authorized for local governments in subsections (16) and (17) and notwithstanding any other provisions of law, a unit of local government may deposit any portion of surplus public funds in its control or possession in accordance with the following conditions: (a) The funds are initially deposited in a qualified public depository, as defined in s. 280.02, selected by the unit of local government. (b) The selected depository arranges for the deposit of the funds in certificates of deposit in one or more federally insured banks or savings and loan associations, wherever located, for the account of the unit of local government. (c) The full amount of principal and accrued interest of each such certificate of deposit is insured by the Federal Deposit Insurance Corporation. (d) The selected depository acts as custodian for the unit of local government with respect to such certificates of deposit issued for its account. (e) At the same time the unit of local government's funds are deposited and the certificates of deposit are issued, the selected depository receives an amount of deposits from customers of other federally insured financial institutions, wherever located, equal to or greater than the amount of the funds initially invested by the unit of local government through the selected depository. History.--s. 1, ch. 95-194; s. 2, ch. 97-9; s. 3, ch. 2000-264; ss. 66, 141, ch. 2001-266; s. 2, ch. 2005-126; s. 1, ch. 2007-89; s. 42, ch. 2008-4. 218.417 Fund B Surplus Funds Trust Fund.-- (1) There is created the Fund B Surplus Funds Trust Fund within the State Board of Administration. Funds credited to the trust fund shall consist of the investments, interest earned, and reserve in Fund B of the Local Government Surplus Funds Trust Fund. Those funds shall be transferred from the Local Government Surplus Funds Trust Fund to the Fund B Surplus Funds Trust Fund within 30 days after the effective date of this act. (2) Notwithstanding s. 216.301 and pursuant to s. 216.351, any balance in the trust fund at the end of the fiscal year shall remain in the fund and be available for carrying out the purposes of the trust fund. (3) Pursuant to the provisions of s. 19(f)(3), Art. III of the State Constitution, the Fund B Surplus Funds Trust Fund is exempt from the termination provisions of s. 19(f)(2), Art. III of the State Constitution. The trust fund shall be terminated upon self -liquidation, if not terminated sooner by law. History.--s. 1, ch. 2008-93. '218.418 Definitions. --As used in ss. 218.421 and 218.422, the term: (1) 'Board" means the State Board of Administration. (2) "Surplus funds" means any funds in any general or special account or fund of a unit of local government, or funds held by an independent trustee on behalf of a unit of local government, which in reasonable contemplation will not be immediately needed for the purposes intended. (3) "Trust fund" means the pooled investment fund known as the Fund B Surplus Funds Trust Fund. (4) "Trustees" means the Trustees of the State Board of Administration. (5) "Unit of local government" means any governmental entity within the state not part of state government and includes, but is not limited to, the following and the officers thereof: any county, municipality, school district, special district, clerk of the circuit court, sheriff, property appraiser, tax collector, supervisor of elections, authority, board, public corporation, or other political subdivision of the state. History.--ss. 8, 11, ch. 2008-59. 'Note. --Section 11, ch. 2008-59, provides that "[s]ections 218.418, 218.421, and 218.422, Florida Statutes, as created by this act, shall expire at the time the Fund B Surplus Funds Trust Fund is terminated by law or self -liquidates as determined and announced by the executive director of the State Board of Administration, whichever occurs first." '218.421 Fund B Surplus Funds Trust Fund; purpose; rulemaking; administration; reporting.-- (1)(a) The purpose of the Fund B Surplus Funds Trust Fund is to maximize the payout of principal on invested surplus funds of units of local government formerly in Fund B of the Local Government Surplus Funds Trust Fund through a prudent work out of the trust fund with the ultimate goal of self-liquidating the trust fund through maturity and payout of the investments. (b) The State Board of Administration may adopt rules pursuant to ss. 120.536(1) and 120.54 to administer this section. (2)(a) The board or a professional money management firm shall administer the trust fund on behalf of the participants based on a written investment policy, approved by the trustees, and shall have the power to work out, restructure, or invest such funds. The trustees shall annually certify to the Joint Legislative Auditing Committee that the trustees have conducted a review of the trust fund and that the trust fund is in compliance with the requirements of this section. Any new investments must be made in money market or equivalent funds. The board or a professional money management firm shall keep a separate account, designated by name and number of each participating local government. Individual transactions and totals of all investments, or the share belonging to each participant, shall be recorded in the accounts. Any moneys accrued in the trust fund shall be subject to payment from the trust fund on a monthly basis to the trust fund participants according to their proportional interest in the trust fund so long as at least $100,000 is in the trust fund at the end of that month. After all securities have matured, been sold, or worked out, a final distribution shall be made to the participants in the trust fund. Participants may not conduct transactions in the trust fund. (b) The board or a professional money management firm and all employees of the board or firm have an affirmative duty to immediately disclose any material impact to the trust fund to the participants. To ensure such disclosure, a system of internal controls shall be established by the board, which shall be documented in writing as part of the investment policy. The controls shall be designed to prevent the loss of public funds arising from fraud, employee error, and misrepresentation by third parties, unanticipated changes in financial markets, or imprudent actions by employees and officers of the board or a professional money management firm. The controls shall also include formal escalation reporting guidelines for all employees. The guidelines shall establish procedures to address material impacts on the trust fund that require reporting and action. (c) The investment policy shall be reviewed and approved by the trustees upon the transfer of the funds into the trust fund or when market changes dictate, and in each event, the investment policy shall be reviewed by the Investment Advisory Council and by the Participant Local Government Advisory Council. (d) Costs incurred in carrying out the provisions of this section, which shall be prorated among the participants in the percentage that each participant's deposits bear to the total trust fund, may be deducted from any interest earned in the trust fund. The board or a professional money management firm may not transfer the interest or use the interest for any other purpose, including, but not limited to, making up investment losses. (e) After the trust fund self -liquidates, any remaining reserve may be transferred by the trustees at their sole discretion back to the trust fund from which the assets were originally separated. (3)(a) The board or a professional money management firm shall provide a report at a minimum, monthly, or upon the occurrence of a material event, to every participant having a beneficial interest in the trust fund, the board's executive director, the trustees, the Joint Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The report shall include: 1. Reports of any material impacts on the trust fund, and any actions or escalations taken by staff to address such impacts. The trustees shall provide quarterly a report to the Joint Legislative Auditing Committee that the trustees have reviewed and approved the monthly reports and actions taken, if any, to address any impacts. 2. A management summary that provides an analysis of the status of the current investment portfolio and the individual transactions executed over the last month. This management summary shall be prepared in a manner that will allow anyone to ascertain whether investment activities during the reporting period have conformed to investment policies. Such reporting shall be in conformance with best market practices. 3. The board or a professional money management firm shall furnish upon request the details of an investment transaction to any participant, the trustees, the Investment Advisory Council, and the Participant Local Government Advisory Council. (b) Additional reporting may be made to participants in the trust fund through regular and frequent ongoing multimedia educational materials and communications, including, but not limited to, historical performance, investment holdings, amortized cost and market value of the trust fund, credit quality, and average maturity of the trust fund investments. (4) The trustees shall review the board's progress in returning the principal in the trust fund to the participants at each meeting of the board until the trust fund self -liquidates or is terminated by law. History.--ss. 9, 11, ch. 2008-59. 'Note. --Section 11, ch. 2008-59, provides that "[s]ections 218.418, 218.421, and 218.422, Florida Statutes, as created by this act, shall expire at the time the Fund B Surplus Funds Trust Fund is terminated by law or self -liquidates as determined and announced by the executive director of the State Board of Administration, whichever occurs first." '218.422 Fund B Surplus Funds Trust Fund; review. --Unless the Fund B Surplus Funds Trust Fund has been terminated by law or through self -liquidation, prior to the 2013 Regular Session of the Legislature, the Auditor General shall review the trust fund and the steps taken up to that time to return as much of the principal to the participants as possible and provide a summary report to the board, the trustees, the President of the Senate, the Speaker of the House of Representatives, the Investment Advisory Council, and the Participant Local Government Advisory Council. History.--ss. 10, 11, ch. 2008-59. 'Note. --Section 11, ch. 2008-59, provides that "[s]ections 218.418, 218.421, and 218.422, Florida Statutes, as created by this act, shall expire at the time the Fund B Surplus Funds Trust Fund is terminated by law or self -liquidates as determined and announced by the executive director of the State Board of Administration, whichever occurs first." Print Member Name Date D BINDING AUTHORITY is SEPTEMBER 15th, 2017N Page 116 THIS DOCUMENT IN ITS ENTIRETY IS CONFIDENTIAL & PRIVILEGED WORLD PROPRIETARY DOCUMENTATION -NOT PUBLIC RECORD. Risk Management CITY OF OKEECI IOBEE 2017-2018 RENEWAL PROPOSAL PROPERTY 0, CASUALTY INSURANCE October 1, 20'17 — October 'i, 20,18 TWO YEAR COVERAGE AGREEMENT Date Page 117 THIS DOCUMENT IN ITS ENTIRETY IS CONFIDENTIAL & PRIVILEGED 'WORLD PROPRIETARY DOCUMENTATION -NOT PUBLIC RECORD. Risk ivianagement „ 00 Exhibit 4 Sept S, 2017 ORDINANCE NO. 1157 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA, ADOPTING A MILLAGE RATE TO BE LEVIED ON ALL REAL AND TANGIBLE PERSONAL PROPERTY WITHIN THE CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; PROVIDING THAT 7.9932 PER THOUSAND DOLLAR VALUATION SHALL NOT BE LEVIED ON HOMESTEAD PROPERTY; THAT 7.9932 VALUATION SHALL BE USED FOR GENERAL CITY PURPOSES; THAT SAID MILLAGE RATE IS 5.38 PERCENT (5.38%) MORE THAN THE ROLL -BACK RATE COMPUTED IN ACCORDANCE WITH FLORIDA STATUTE 200.065 (1); PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, pursuant to Chapter 166, Florida Statues and Article VII, §2 of the Florida Constitution, the City of Okeechobee, Florida has the governmental, corporate and proprietary powers to conduct municipal government; and WHEREAS, these powers include to adopt millage rates to be levied by the City Council on all taxable real and tangible personal property within the City each Fiscal Year; and WHEREAS, the City Council of the City of Okeechobee deems it necessary and advisable to adopt and levy a millage rate for the City for the Fiscal Year 2017-18; and NOW, THEREFORE, be it ordained before the City Council for the City of Okeechobee, Florida; presented at a duly advertised public meeting; and passed by majority vote of the City Council; and properly executed by the Mayor or designee, as Chief Presiding Officer for the City: Section 1: A millage rate is hereby adopted and levied by the City Council of the City of Okeechobee for Fiscal Year beginning October 1, 2017, and ending September 30, 2018, pursuant to the Laws and Constitution of the State of Florida. The City Council of the City of Okeechobee, Florida, hereby levies a tax of 7.9932 per thousand dollar valuation on all real and tangible personal property within the corporate limits of the City of Okeechobee, provided however, that 7.9932 shall not be levied upon property in the City of Okeechobee claimed and allowed as homestead on the general laws of the State of Florida. Section 2: That as designated in Section 1, hereof, 7.9932 per thousand dollar valuation shall be used for general City purposes in carrying on and conducting the government of said City. Section 3: The millage rate adopted is 5.38 percent more than the roll -back rate as computed in accordance with Florida Statutes Section 200.065 (1). Section 4: That this ordinance was proposed, considered, and adopted, under the provisions of Florida Statues Chapter 166 and Section 200.065. Section 5: The Finance Department shall furnish a certified copy of this Ordinance upon second reading and final adoption to the Okeechobee County Property Appraiser, the Okeechobee County Tax Collector, and the Florida Department of Revenue as required by law. Ordinance No. 1157 Page 1 of 2 Section 6: All ordinances or parts of ordinances in conflict herewith are hereby repealed. Section 7: If any provision or portion of this ordinance is declared by any court of competent jurisdiction to be void, unconstitutional, or unenforceable, then all remaining provisions and portions of this ordinance shall remain in full force and effect. Section 8: This ordinance shall take effect October 1, 2017. INTRODUCED for First Reading and Public Hearing on the 5th day of September, 2017. Dowling R. Watford, Jr., Mayor ATTEST: Lane Gamiotea, CIVIC, City Clerk PASSED AND ADOPTED after Second Reading and Final Public Hearing on the 19th day of September, 2017. ATTEST: Lane Gamiotea, CMC, City Clerk REVIEWED FOR LEGAL SUFFICIENCY: John R. Cook, City Attorney Dowling R. Watford, Jr., Mayor Ordinance No. 1157 Page 2 of 2 Exhibit 5 Sept 5, 2017 ORDINANCE NO. 1158 AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE CITY OF OKEECHOBEE, FLORIDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; WHICH BUDGET SETS FORTH GENERAL FUND REVENUES OF $9,511,496.00, TRANSFERS -IN OF $885,453.00, AND EXPENDITURES OF $6,605,790.00, LEAVING A FUND BALANCE OF $3,791,159.00; PUBLIC FACILITIES IMPROVEMENT FUND REVENUES OF $1,464,908.00, EXPENDITURES OF $777,537.00 AND TRANSFERS -OUT OF $350,000.00, LEAVING A FUND BALANCE OF $337,371.00; OTHER GRANTS FUND REVENUES OF $528,292.00, TRANSFERS -IN OF $42,610.00, AND EXPENDITURES OF $570,902.00, LEAVING A FUND BALANCE OF $0.00; APPROPRIATIONS GRANT FUND REVENUES OF $219,450.00, EXPENDITURES OF $219,450.00, LEAVING A FUND BALANCE OF $0.00; CAPITAL IMPROVEMENT PROJECTS FUND REVENUES OF $4,364,380.00, EXPENDITURES OF $780,985.00, AND TRANSFERS -OUT OF $588,513.00, LEAVING A FUND BALANCE OF $2,994,882.00; LAW ENFORCEMENT SPECIAL FUND REVENUES OF $4,811.00, AND EXPENDITURES OF $1,750.00, LEAVING A FUND BALANCE OF $3,061.00; PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. NOW, THEREFORE, be it ordained before the City Council for the City of Okeechobee, Florida; presented at a duly advertised public meeting; and passed by majority vote of the City Council; and properly executed by the Mayor or designee, as Chief Presiding Officer for the City: Section 1: The City Council of the City of Okeechobee, Florida, after having held a public hearing on the annual budget, including General Fund, Public Facilities Improvement Fund, Other Grants Fund, Appropriations Grant Fund, Capital Improvement Projects Fund, and Law Enforcement Special Fund, hereby adopts as its annual budget the expenditures, as fully set forth below, for the City of Okeechobee for the Fiscal Year beginning October 1, 2017, and ending September 30, 2018. GENERALFUND Revenues: Fund Balance $ 4,189,162.00 Ad Valorem Taxes - 7.9932 $ 2,075,803.00 Other Fees $ 679,000.00 Intergovernmental Revenue $ 1,540,385.00 Charges for Current Services $ 973,750.00 Fines, Forfeitures and Penalties $ 14,450.00 Uses of Money and Property $ 1,000.00 Other Revenues $ 37,946.00 TOTAL REVENUES $ 9,511,496.00 Transfer -In from Public Facilities Improvement Fund $ 350,000.00 Transfer -In from Capital Improvement Projects Fund $ 535,453.00 TOTAL REVENUES AND TRANSFERS $10,396,949.00 Expenditures: Legislative $ 192,796.00 Executive $ 204,524.00 City Clerk $ 208,758.00 Financial Services $ 287,630.00 Legal Counsel $ 115,760.00 General Services $ 396,520.00 Law Enforcement $ 2,286,493.00 Fire Protection $ 1,668,634.00 Road and Street Facilities $ 1,244,675.00 TOTAL EXPENDITURES $ 6,605,790.00 GENERAL FUND BALANCE $ 3,791,159.00 Ordinance No. 1158 Page 1 of 3 0 PUBLIC FACILITIES IMPROVEMENT FUND Revenues: Fund Balance Revenues TOTAL REVENUES Expenditures: TOTAL EXPENDITURES Transfer -Out to General Fund TOTAL EXPENDITURES AND TRANSFERS PUBLIC FACILITIES IMPROVEMENT FUND BALANCE OTHER GRANTS FUND Revenues: Fund Balance Revenues TOTAL REVENUES Transfer -In from Capital Improvement Projects Fund TOTAL REVENUES AND TRANSFERS Expenditures: TOTAL EXPENDITURES OTHER GRANTS FUND BALANCE APPROPRIATION GRANTS FUND Revenues: Fund Balance Revenues TOTAL REVENUES Expenditures: TOTAL EXPENDITURES OTHER GRANTS FUND BALANCE CAPITAL IMPROVEMENT PROJECTS FUND Revenues: Fund Balance Revenues TOTAL REVENUES Expenditures: TOTAL EXPENDITURES Transfer -Out to General Fund Transfer -Out to Other Grants Fund TOTAL EXPENDITURES AND TRANSFERS CAPITAL IMPROVEMENT PROJECTS FUND BALANCE LAW ENFORCEMENT SPECIAL FUND Revenues: Fund Balance Revenues TOTAL REVENUES Expenditures: TOTAL EXPENDITURES LAW ENFORCEMENT SPECIAL FUND BALANCE Ordinance No. 1158 Page 2 of 3 $ 620,571.00 $ 844,337.00 $ 1,464,908.00 $ 777,537.00 $ 350,000.00 $ 1,127,537.00 $ 337,371.00 $ 312,162.00 $ 216,130.00 $ 528,292.00 $ 42,610.00 $ 570,902.00 $ 570,902.00 $ 0.00 $ 0.00 $ 219,450.00 $ 219,450.00 $ 219,450.00 $ 0.00 $ 4,136,380.00 $ 228.000.00 $ 4,364,380.00 $ 780,985.00 $ 535,453.00 $ 53,060.00 $ 1,369,498.00 $ 2,994,882.00 $ 4,311.00 $ 500.00 $ 4,811.00 $ 1,750.00 $ 3,061.00 1%01 `"W Section 2: That this ordinance was proposed, considered and adopted under the provisions of Chapter 166 and 200.065 Florida Statues. Section 3: The Finance Department shall furnish a certified copy of this Ordinance upon second reading and final adoption to the Okeechobee County Property Appraiser, the Okeechobee County Tax Collector, and the Florida Department of Revenue as required by law. Section 4: All ordinances or parts of ordinances in conflict herewith are hereby repealed. Section 5: If any provision or portion of this ordinance is declared by any court of competent jurisdiction to be void, unconstitutional, or unenforceable, then all remaining provisions and portions of this ordinance shall remain in full force and effect. Section 6: This ordinance shall be effective October 1, 2017. INTRODUCED for First Reading and Public Hearing on the 5th day of September, 2017. Dowling R. Watford, Jr., Mayor ATTEST: Lane Gamiotea, CMC, City Clerk PASSED AND ADOPTED after Second Reading and Final Public Hearing on the 19th day of September, 2017. ATTEST: Lane Gamiotea, CMC, City Clerk REVIEWED FOR LEGAL SUFFICIENCY: John R. Cook, City Attorney Dowling R. Watford, Jr., Mayor Ordinance No. 1158 Page 3 of 3 AgIBI T -#5 Disfr�bu�d of BUDGET CALENDAR FISCAL YEAR 2017/2018 07/03/2017 Certification from Property Appraiser 07/18/2017 Set date, time and place for public hearings and set maximum millage rate for tentative budget (Regular Council meeting) 08/15/2017 Budget Workshop, 5:00 pm (Regular Council meeting) 08/22/2017 Second Budget Workshop, 6:00 pm (if needed) 09/05/2017 First Public Hearing at 6:00 pm (Regular Council Mtg.) 09/19/2017 Final Public Hearing at 6:00 pm (Regular Council Mtg.) All meetings to be held: Council Chambers at City Hall 55 SE 3rd Avenue Okeechobee, FL 34974 City of Okeechobee 2a/7 To: Mayor & City Council Meehty From: Marcos Montes De Oca, City Administrator India Riedel, Finance Director RE: 2018 FY Budget Hearing Date: September 5, 2017 The use of 96% taxable values and the millage rate of 7.9932 will generate $160, 984 more revenue than last year's budget of $1,914,819. With other amended revenue categories, the total increase excluding reserves is 5.37% as compared to the increase in expenditures in the amount of 3.13%. • General Fund Revenues increased by 5.37% • General Fund Expenditures, increased by 3.13% Items included in budget ➢ Millage rate of 7.9932 implemented within General Fund (same rate continued from 2016-17) ➢ Continued the Step Plan for full and part time employees ➢ COLA provided to Employees at2% ➢ Amended Health Insurance Benefit ➢ Added Medical Clinic for employees ➢ Added CRA Study ➢ Added $2,500 for Raulerson/Chandler Log Cabin Project ➢ Continued specific support for o Shared Services Council o Okeechobee Chamber of Commerce (Economic Development) Specific Projects ➢ Continued Replacement of Trees in Flagler Parks ➢ Centennial Park — Irrigation, landscaping, equipment, etc. ➢ Replacement plants for medians ➢ SE 3rd Avenue/SE 6th Street SCOP Project ➢ FDEP — TMDL Grants/project for Taylor Creek ➢ Stormwater Drainage Project— SFWM Grant ➢ SE 8th Avenue Project — Appropriation Grant ➢ Asphalt overlay/replacement project ➢ Continued sidewalk extension projects Page 1 of 2 .. N Other significant budgeted capital items ➢ Replacement Police Vehicles ➢ Add 1/2 ton Fire Chief Truck and replacement of Code Enforcement Vehicle ➢ Add zero turn mowers (for finished mowing) ➢ Replacement roof for the Police Station ➢ HID Security Lock System at Police Station ➢ Video Recording System ➢ Additional handheld emergency radios ➢ Bunker Gear rotation and replacement w!bottles Operating and personnel costs are continually reviewed to provide good service at the least cost. The City continues to effectively manage the dollars available to provide basic services and to improve those services. Page 2 of 2 City of Okeechobee �m PROPOSED 2017/2018 BUDGET �• 9 GENERAL FUND RECAPITULATION - REVENUE AND EXPENSES EXHIBIT #5 Disci-lbuftd a! Sep � za/7 Memn9 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED F/Y Beginning Fund Balance $ 3,744,185 $ 3,971,869 $ 3,791,160 $ 3,791,160 $ 3,791,160 Roll forward from previous year $ 180,709 $ 272,137 $ 398,002 $ 3,971,869 $ 4,063,297 $ 4,189,162 iREVENTUES' 96% AD VALOREM 7.9932 $ 1,878,527 $ 1,887,967 $ 1,914,819 $ 1,950,336 $ 2,075,803 OTHER FEES $ 767,468 $ 795,516 $ 682,600 $ 700,641 $ 679,000 INTERGOVERNMENTAL $ 1,482,471 $ 1,523,132 $ 1,431,235 $ 1,545,410 $ 1,540,385 CHARGES FOR SERVICES $ 1,034,192 $ 1,039,506 $ 968,645 $ 995,933 $ 973,750 FINES, FORFEITURES & PE $ 21,158 $ 30,331 $ 14,770 $ 18,463 $ 14,450 USES OF MONEY & PROPE $ - $ 236 $ 1,000 $ 500 $ 1,000 OTHER REVENUES $ 72,321 $ 84,002 $ 37,946 $ 38,146 $ 37,946 $ 5,256,137 $ 5,360,690 $ 5,051,015 $ 5,249,429 $ 5,322,334 TRANSFERS - IN Public Facilities Fund (Transfe $ 350,000 $ 350,000 $ 350,000 $ 350,000 $ 350,000 CDBG $ - $ - $ - $ - $ - Capital Proj Am rovement Fun $ 103,392 $ 796,722 $ 751,034 $ 535,453 TOTAL REVENUES $ 5,709,529 $ 5,710,690 $ 6,378,446 $ 6,622,600 1 $ 6,605,789 EXPENDITURES LEGISLATIVE $ 147,284 $ 141,471 $ 182,699 $ 154,199 $ 192,796 EXECUTIVE $ 189,283 $ 182,639 $ 195,341 $ 195,341 $ 204,524 CITY CLERK $ 218,270 $ 215,638 $ 216,170 $ 208,019 $ 208,758 FINANCIAL SERVICES $ 284,738 $ 276,716 $ 279,391 $ 279,391 $ 287,630 LEGAL COUNCIL $ 61,411 $ 50,612 $ 75,710 $ 75,710 $ 115,760 GENERAL SERVICES $ 386,799 $ 336,696 $ 375,544 $ 356,152 $ 396,520 LAW ENFORCEMENT $ 2,007,697 $ 1,986,689 $ 2,262,583 $ 2,195,372 $ 2,286,473 FIRE PROTECTION $ 1,400,851 $ 1,387,588 $ 1,587,869 $ 1,558,962 $ 1,668,634 ROAD & STREET FACILIT11 $ 1,076,816 $ 1,064,873 $ 1,230,079 $ 1,201,452 $ 1,244,675 TOTAL GEN. OPER. EXPENDITURES $ 5,773,149 $ 5,642,922 1 $ 6,405,386 $ 6,224,598 $ 6,605,770 FISCAL YEAR ENDING FUND BALANCE 1 $ 3,680,565 1 $ 4,039,637 1 $ 3,764,220 1 $ 4,189,162 1 $ 3,791,179 5.37% -28.70% 3.13% 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 1 of 27 ``ty.OF•O,EFCy ''' City of Okeechobee O PROPOSED 2017/2018 BUDGET GENERAL FUND RECAPITULATION - REVENUE AND EXPENSES 2015/2016 2015/2016 2016/2017 2017/2018 2017/2018 EOY BUDGET Estimates AMENDED ESTIMATES PROPOSED FUND BALANCE $ 3,744,185 $ 3,744,185 $ 3,791,160 $ 3,791,160 $ 3,791,160 Roll Forward from previous year $ 180,709 $ 272,137 $ 398,002 $ 3,971,869 1 $ 4,063,297 $ 4,189,162 REVENUES TAXES: 311-1000 96% AD VALOREM @ 7.9932 1 $ 1,878,527 $ 1,887,967 $1,914,819 $1,950,336 $2,075,803 TOTAL I $ 1,878,527 1 $ 1,887,967 1 $ 1,914,819 1 $ 1,950,336 $ 2,075,803 OTHER FEES: 312-5100 312-5200 314-1000 314-4000 314-8000 316-0000 319-0000 Fire Insurance Premium $ 49,888 $ 79,888 $ 50,100 $ 46,500 $ 45,800 Casualty Insurance Prem Tax (Police) $ 76,960 $ 73,960 $ 67,000 $ 64,300 $ 62,000 Utility Tax -Electric $ 499,868 $ 502,380 $ 450,000 $ 464,000 $ 450,000 Utility Tax/Natural Gas $ 20,338 $ 20,338 $ 17,500 $ 22,170 $ 19,700 Utility Tax/Propane $ 34,418 $ 34,561 $ 30,200 $ 30,000 $ 29,000 Prof & Business Tax Receipt $ 77,815 $ 76,208 $ 66,800 $ 73,000 $ 71,500 Public Service Fee $ 8,181 $ 8,181 $ 1,000 $ 671 $ 1,000 TOTAL $ 767,468 $ 795,516 $ 682,600 $ 700,641 $ 6799000 INTERGOVERNMENTAL REVENUES: 335-1210 335-1400 335-1500 335-1800 312-6000 315.0000 335-2300 338-2000 SRS Cigarette Tax $ 209,082 $ 210,133 $ 197,479 $ 196,500 $ 198,151 Mobile Home Licenses $ 23,090 $ 23,206 $ 19,500 $ 19,500 $ 19,500 Alcoholic Beverage Licenses $ 5,824 $ 6,180 $ 5,200 $ 5,200 $ 5,200 1/2 Cent Sales Tax $ 340,496 $ 342,208 $ 322,800 $ 355,410 $ 355,413 1 Cent Sales Surtax $ 658,272 $ 693,866 $ 656,154 $ 725,600 $ 734,121 Communications Service Tax $ 235,840 $ 237,028 $ 223,913 $ 237,200 $ 222,000 Firefighters Supplement $ 1,200 $ 1,800 $ 1,200 $ 1,200 $ 1,200 County Business Licenses $ 8,667 $ 8,711 $ 4,989 $ 4,800 $ 4,800 TOTAL $ 1,482,471 $ 1,523,132 $ 1,431,235 $ 1,545,410 $ 1,5409385 CHARGES FOR CURRENT SERVICES 322-0000 322-1000 323-1000 323-4000 323-7000 329-0000 341-2000 341-3000 341-4000 343-4010 Building & Inspections Fees $ 98,661 $ 99,157 $ 79,000 $ 79,000 $ 80,000 Exception & Zoning Fees $ 12,600 $ 12,665 $ 500 $ 5,580 $ 500 Franchise -Electric $ 402,763 $ 404,787 $ 401,000 $ 401,200 $ 400,000 Franchise -Natural Gas $ 8,075 $ 8,217 $ 7,095 $ 12,400 $ 10,200 Franchise -Solid Waste $ 118,430 $ 119,031 $ 103,700 $ 110,453 $ 105,700 Plan Review Fees $ 8,340 $ 8,385 $ 1,500 $ 1,500 $ 1,500 Alley/Street Closing Fees $ - $ - Map Sales $ - $ - $ 25 $ - $ 25 Photocopies $ $ - $ 25 $ - $ 25 Solid Waste Collection Fees-Resd. $ 385,323 $ 387,264 $ 375,800 $ 385,800 $ 375,800 TOTAL $ 1,034,192 $ 1,039,506 $ 968,645 $ 995,933 $ 973,750 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 2 of 27 City of Okeechobee b PROPOSED 2017/2018 BUDGET GENERAL FUND XCAPITULATION - REVENUE AND EXPENSE 2015/2016 1 2015/2016 1 2016/2017 1 2016/2017 1 2017/2018 AMENDED I EOY BUDGETI AMENDED I ESTIMATES1 PROPOSED FORFEITURES & PENALTIES: 51-1000 51-2000 51-3000 51-4000 51-5000 54-1000 Court Fines $ 12,573 $ 13,642 $ 8,425 $ 9,100 $ 8,425 Radio Comm. Fee $ 5,300 $ 5,337 $ 4,020 $ 3,700 $ 3,700 Law Enforcement Education $ 1,500 $ 1,809 $ 1,250 $ 1,250 $ 1,250 Investigation Cost Reimbursement $ 1,635 $ 1,647 $ 925 $ 1,513 $ 925 Unclaimed Evidence $ - $ - $ - $ - $ Ordinance Violation Fines $ 150 $ 7,896 $ 150 $ 2,900 $ 150 TOTAL $ 21,158 $ 30,331 $ 14,770 $ 18,463 $ 14.450 USES OF MONEY & PROPERTY: 361-1000 361.3000 364-1000 Interest Earnings $ - $ 236 $ 1,000 $ 500 $ 1,000 Investment Earnings $ - $ - $ - $ - $ Surplus City Property $ - $ - $ - $ - $ - TOTAL $ - $ 236 $ 11000 $ 500 $ 1,000 Public Safety Grant $ 1,791 $ 1,791 $ - $ - $ Special Purpose Grant $ - $ - $ - $ - $ - DOT Hwy Maint.Landscape/Mowing $ 8,632 $ 8,632 $ 8,532 $ 8,532 $ 8,532 DOT Master Traffic Signals Maint. $ 16,264 $ 16,264 $ 15,064 $ 15,064 $ 15,064 DOT Maint. Lights & Lights Contract $ 30,053 $ 30,053 $ - $ - $ - Other Revenues $ 2,497 $ 5,997 $ 10,000 $ 10,000 $ 10,000 Miscellaneous $ 5,825 $ 14,006 $ 2,000 $ 2,000 $ 2,000 Code Enforcement Fine $ 4,199 $ 4,199 $ 500 $ 700 $ 500 Police Accident Reports $ 3,060 $ 3,060 $ 1,850 $ 1,850 $ 1,850 Capital Lease Proceeds $ - $ - $ - $ - $ - TOTAL $ 72,321 $ 84,002 $ 37,946 IS 38,146 1$ 37,94G OTHER REVENUES AND TRANSFER IN 381-1000 Impact Fee Transfer in $ - $ - $ - $ - $ - Capital Project Improvements (Transfer -In) $ 103,392 $ 382,371 $ 796,722 $ 751,034 $ 535,453 CDBG Fund (Transfer -In) Public Facilities Improvement (Transfer -In) $ 350,000 $ 350,000 $ 350,000 $ 350,000 $ 350,000 TOTAL 1 $ 453,392 $ 732,371 $ 1,146,722 $ 1,101,034 $ 885,453 TOTAL REVENUE & OTHER FUNDING SOURCES 1 $ 5,709,529 1 $ 6,093,0611 $ 6,378,446 1 $ 6,622,600 1 $ 6,605,789 OPERATING TRANSFERS - OUT Due From CDBG Capital Project Building & Improvements Capital Project Vehicles TRANSFERS OUT 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 3 of 27 ``S,�.OF•Ol,E�,� 'ww' City of Okeechobee OB 6 PROPOSED 2017/2018 BUDGET r 9 General Fund - 001 DEPARTMENT: LEGISLATIVE (0511) 2015/2016 AMENDED 1 2015/2016 2016/2017 1 2016/2017 2017/2018 JEOYBUDGETI AMENDED I ESTIMATES , PROPOSED 1100 1EXECUTIVE SALARIES $ 46,100 $ 46,100 $ 46,100 $ 46,100 i $ 46,100 1510 LONGEVITY/SERVICE INCENTIVE $ - $ - $ - $ - $ 1,000 2100 FICA $ 3,255 $ 3,015 $ 3,756 $ 3,756 $ 3,756 2200 RETIREMENT $ 3,650 $ 3,625 $ 3,510 $ 3,510 $ 3,510 2300 LIFE AND HEALTH INSURANCE $ 17,784 $ 17,252 $ 40,057 $ 40,057 $ 42,500 2400 WORKERS COMPENSATION $ 225 $ 208 $ 227 $ 227 $ 240 TOTAL PERSONNEL COSTS: $ 71,014 $ 70,200 $ 93,650 $ 93,650 $ 97,106 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 4 of 27 City of Okeechobee 'I Z ° PROPOSED 2017/2018 BUDGET s._ a General Fund - 001 DEPARTMENT: LEGISLATIVE (0511) OPERATIONS & SUPPLIES 1 2015/2016 1 2015/2016 1 2016/2017 2016/2017 1 2017/2018 AMENDED I EOY BUDGETI AMENDED ESTIMATES I PROPOSED `34000THER CONTRACT SERVICES $ 18,000 $ 18,000 ` $ 58,000 $ 29,500 s $ 61,500 4000 TRAVEL AND PER DIEM $ 2,000 $ 1,240 $ 2,000 $ 2,000 $ 2,500 4100 COMM. & FREIGHT $ 3,200 $ 1,195 $ 3,200 $ 3,200 $ 3,200 4500 INSURANCE $ 3,030 $ 2,856 $ 3,209 $ 3,209 $ 3,350 4609 REPAIR & MAINTENANCE $ 400 $ 480 $ - 4901 EDUCATION $ 1,500 $ 695 $ 1,500 $ 1,500 $ 1,500 4909 MISCELLANEOUS $ 1,000 $ 724 $ 1,000 $ 1,000 $ 1,000 5400 BOOKS, PUBLICATIONS, ETC $ 1,200 $ 1,029 $ 1,200 $ 1,200 $ 1,200 8100 SHARED SERVICES $ 8,940 $ 8,937 $ 8,940 $ 8,940 $ 8,940 8200 AID TO PRIVATE ORGANIZATIONS $ - $ $ - $ - $ 2,500 8201 INTERLOCAL PART. wARSC $ - $ - $ - $ - $ - 8202 1 LOCAL COMMUNITY REQUEST $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 574-8300 TOURISM/ECO. DEV/CENTENNIAL $ 27,000 $ 26,115 $ - $ - $ TOTAL SUPPLIES AND OTHER SERVICES IS 76,270 $ 71,271 $ 89,049 $ 60,549 $ 95,690 GRAND TOTAL FOR DEPARTMENT $ 147,284 1 $ 141,471 IS 182,699 $ 154,199 $ 192,796 PROPOSED CHANGES 2300 Change in Health Benefits 4100 Reallocation of Communication Services based on # of numbers per Dept. 00 Projected Property and Casualty cost for 2018 3400 CAS Legislative Services, $18,000; Balance of Annexation Study Est Cost, $28,500; CRA Study, $15,000 8200 Okeechobee Historical Society Contribution -Log Cabin Proj (Raulerson/Chandler Settlers) 8202 Economic Development (Chamber) 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 5 of 27 City of Okeechobee 6 _ PROPOSED 2017/2018 BUDGET � 9 General Fund - 001 DEPARTMENT: EXECUTIVE (0512) PERSONNEL COST: 2015/2016 AMENDED 2015/2016 2016/2017 2016/2017 2017/2018 EOY BUDGET AMENDED ESTIMATES PROPOSED 11100 1EXECUTIVE SALARIES $ 80.525 $ 80.534 $ 827849 $ 82,849 $ 87,822 1200 IREGULAR SALARIES $ 42,179 $ 42,767 $ 43,653 . $ 43,653 $ 44,995 1510 LONGEVITY/SERVICE INCENTIVE $ - $ - $ - $ - $ - 2100 FICA $ 9,504 $ 9,558 $ 9,864 $ 9,864 $ 10,305 2200 RETIREMENT $ 15,905 $ 15,495 $ 12,700 $ 12,700 $ 12,900 2300 LIFE AND HEALTH INSURANCE $ 17,654 $ 15,805 $ 18,780 $ 18,780 $ 19,900 2400 WORKERS COMPENSATION $ 652 $ 581 $ 722 $ 722 $ 795 TOTAL PERSONNEL COSTS: $ 166,419 $ 164,740 $ 168,568 $ 168,568 $ 176,717 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 6 of 27 y ```�•OF•feCy�� City of Okeechobee PROPOSED 2017/2018 BUDGET � 9 General Fund - 001 DEPARTMENT: EXECUTIVE (0512) SUPPLIES & OTHER SERVICES 2015/2016 AMENDED 2015/2016 2016/2017 2016/2017 2017/2018 EOY BUDGET AMENDED ESTIMATES PROPOSED 4000 TRAVEL AND PER DIEM $ 3,250 $ 2,397 $ 4,000 $ 4,000 $ 4,200 4100 COMM. & FREIGHT $ 4,005 $ 3,335 $ 4,005 $ 4,005 $ 3,707 4400 RENTALS & LEASES $ 2,104 $ 1,850 $ 3,900 $ 3,900 $ 4,100 4500 INSURANCE $ 3,460 $ 3,263 $ 3,668 1 $ 3,668 $ 3,850 1460Cti I R&M VEHICLES $ (,000 ? $ 64 I,i5G ; S 550 1 1,550 4609 R&M EQUIPMENT $ 1,405 $ 1,023 $ 1,400 $ 1,400 $ 1,400 4901 EDUCATION $ 600 $ 1,001 $ 1,750 $ 1,750 $ 1,750 4909 MISCELLANEOUS $ 500 $ 245 $ 500 $ 500 $ 500 5100 OFFICE SUPPLIES $ 800 $ 650 $ 800 $ 800 $ 800 5200 OPERATING SUPPLY $ 1,200 $ 560 $ 1,200 $ 1,200 $ 1,200 5201 FUEL AND OIL $ 2,340 $ 1,890 $ 3,000 $ 3,000 $ 3,000 5400 BOOKS, PUBLICATIONS, ETC $ 2,200 $ 1,040 $ 1,000 $ 1,000 $ 1,750 6400 EQUIPMENT ($750 OR MORE) $ - $ - $ - $ - $ - TOTAL SUPPLIES AND OTHER SERVICES $ 22,864 $ 17,899 S 26,773 S 26,773 $ 27,807 GRAND TOTAL FOR DEPARTMENT I $ 189,283 IS 187,639 1 S 195,3411 $ 195,341 IS 204,524 PROPOSED CHANGES 2300 Change in Health Benefits 4100 Reallocation of Communication Services based on # of numbers per Dept. 500 Projected Property and Casualty cost for 2018 5400 Add'I Dues and subscriptions 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 7 of 27 =``ty.OF•O/(EE.�o@ '40 City of Okeechobee Ifto ti. M PROPOSED 2017/201 S BUDGET w 9 General Fund - 001 DEPARTMENT: CLERK OFFICE (251.2) PERSONNEL COST: 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED 1100 EXECUTIVE SALARIES $ 80,534 $ 61,918 $ 62,676 $ 62,676 $ 64,570 1 i200 IREGULAR SALARIES $ 42,767 1 $ 42.387 1 $ 32.946 1 $ 32,946 1 S 33,900 1300 JOTHER SALARIES $ - $ 24,812 $ 15,100 $ 15,100 $ 15,327 1510 LONGEVITY/SERVICE INCENTIVE $ - $ - $ - $ - $ - 2100 FICA $ 9,558 $ 9,809 $ 8,952 $ 8,952 $ 9,105 2200 RETIREMENT $ 15,495 $ 11,168 $ 9,600 $ 9,600 $ 9,744 2300 LIFE AND HEALTH INSURANCE $ 15,805 $ 15,691 $ 18,582 $ 18,582 $ 19,830 2400 WORKERS COMPENSATION $ 581 $ 215 $ 613 $ 613 $ 685 TOTAL PERSONNEL COSTS: $ 164,740 $ 166,000 $ 148,469 $ 148,469 $ 153,161 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 8 of 27 City of Okeechobee 6 PROPOSED 2017/2018 BUDGET i General Fund - 001 DEPARTMENT: CLERK OFFICE (2512) SUPPLIES & OTHER SERVICES 2015/2016 2015/2016 2016/2017 2016/2017 2016/2017 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED 3103 MUNICIPAL CODE $ 4,500 $ 4,500 $ 4,500 $ 4,500 $ 4,500 13400 (OTHER CONTRACTUAL SERVICES $ 9,000 ' $ 8,800 $ 9,00U I D Y,00U a 8,800 4000 TRAVEL AND PER DIEM $ 3,000 $ 1,091 $ 3,000 $ 1,200 $ 3,000 4100 COMM. & FREIGHT $ 2,300 $ 2,216 $ 2,300 $ 2,300 $ 2,417 4500 INSURANCE $ 5,190 $ 4,890 $ 5,501 $ 5,250 $ 5,250 4609 R&M EQUIPMENT $ 7,100 $ 6,720 $ 7,100 $ 7,000 $ 7,530 4900 ADVERTISING/OTHER CHARGES $ 15,000 $ 15,705 $ 25,000 $ 21,000 $ 16,550 4901 EDUCATION $ 1,100 $ 376 $ 1,100 $ 600 $ 1,350 4909 MISCELLANEOUS/ELECTION $ 2,340 $ 1,511 $ 6,000 $ 4,500 $ 2,000 5100 OFFICE SUPPLIES $ 2,000 $ 1,840 $ 2,000 $ 2,000 $ 2,000 5400 BOOKS, PUBLICATIONS, ETC $ 2,000 $ 1,989 $ 2,200 $ 2,200 $ 2,200 6400 EQUIPMENT ($750 OR MORE) $ - $ - $ - $ - $ - TOTAL SUPPLIES AND OTHER SERVICES $ 53,530 $ 49,638 $ 67,701 $ 59,550 $ 55,597 GRAND TOTAL FOR DEPARTMENT $ 218,270 1 $ 215,638 $ 216,170 $ 208,019 $ 208,758 PROPOSED CHANGES 2300 Change in Health Benefits 4100 Reallocation of Communication Services based on # of numbers per Dept. 00 Projected Property and Casualty cost for 2018 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 9 of 27 City of Okeechobee PROPOSED 2017/2018 BUDGET General Fund - 001 DEPARTMENT: LEGAL SERVICES (0514) SUPPLIES & OTHER SERVICES 2015/2016 AMENDED 2015/2016 2016/2017 2016/2017 2017/2018 EOY BUDGET AMENDED ESTIMATES PROPOSED i W 1L.C)NC.EVIii' 1 ! 750 2300 HEALTH INSURANCE $ 7,796 $ 7,796 $ 10,050 $ 10,050 $ 9,350 3100 PROFESSIONAL SERVICES $ 40,786 $ 40,786 $ 51,000 $ 51,000 $ 51,000 3300 LEGAL COST $ 10,160 $ 160 $ 10,500 $ 10,500 $ 50,500 4000 TRAVEL AND PER DIEM $ 738 $ 475 $ 800 $ 800 $ 800 4100 COMM. AND FREIGHT SERVICES $ 534 $ 533 $ 1,010 $ 1,010 $ 1,010 4609 R&M EQUIPMENT $ 332 $ 332 $ 800 $ 800 $ 800 4901 EDUCATION $ 530 $ 530 $ 750 $ 750 $ 750 5100 OFFICE SUPPLIES $ 35 $ - $ 300 $ 300 $ 300 5400 MEMBERSHIP & SUBSCRIPTIONS $ 500 $ $ 500 $ 500 $ 500 TOTAL SUPPLIES AND OTHER SERVICES Is 61,411 IS 50,612 IS 75,710 $ 75,710 $ 115,760 GRAND TOTAL FOR DEPARTMENT $ 61,411 $ 50,612 1 $ 75,710 $ 75,710 $ 115,760 PROPOSED CHANGES 2300 Change in Health Benefits 3300 Booked legal cost 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 10 of 27 �`S,t.OF•FeY(EFCyo� ""�'' City of Okeechobee c _ a PROPOSED 2017/2018 BUDGET General Fund - 001 DEPARTMENT: FINANCE DEPARTMENT (0513) PERSONNEL COST: 2015/2016 AMENDED 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED ESTIMATES PROPOSED 1100 EXECUTIVE SALARIES $ 58,985 $ 59,205 $ 59,120 $ 59,120 $ 61,200 � 1200 (REGULAR SALARIES $ 68,890 $ 68,181 $ 71;2289 t c 71,289 x 73,925 t 1201 JOTHER SALAR`: $ $ - 1510 LONGEVITY/SERVICE INCENTIVE $ $ - 2100 FICA $ 9,294 $ 8,893 $ 10,200 $ 10,200 $ 10,505 2200 RETIREMENT $ 15,542 $ 15,541 $ 13,200 $ 13,200 $ 13,398 2300 LIFE AND HEALTH INSURANCE $ 25,249 $ 25,249 $ 29,629 $ 29,629 $ 31,475 2400 WORKERS COMPENSATION $ 643 $ 642 $ 745 $ 745 $ 820 2500 UNEMPLOYMENT TAXES $ - $ $ $ - $ - TOTAL PERSONNEL COSTS: $ 178,603 $ 177,711 IS 184,183 1 S 184,183 $ 191,323 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 11 of 27 "�r �xFFcy City of Okeechobee o� 6 'A PROPOSED 2017/2018 BUDGET General Fund - 001 ARTMVNT• 1R'FNANd-U T)UPA72TMTiNT' mclzl SUPPLIES & OTHER SERVICES 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED 3200 ACCOUNTING & AUDIT $ 30,739 $ 28,739 $ 37,800 $ 37,800 $ 37,800 3400 OTHER CONTRACTUAL SERVICES $ 40,332 $ 40,332 $ 14,500 $ 14,500 $ 15,000 4000 TRAVEL AND PER DIEM $ 560 $ 260 $ 1,750 $ 1,750 IS 1,750 4100 COMM. & FREIGHT $ 2,257 $ 2,157 $ 2,800 $ 2,800 1 $ 2,917 4500 INSURANCE $ 5,704 $ 5,704 $ 6,418 e $ 6,418 If $ 6,600 t4609 jR&M EQUIPMENT $ 10,486 I $ 8.786 $ 14,250 $ 14.250 $ i4,250 4901 JEDUCATION $ - $ - $ 850 $ 850 $ 850 4909 IMISCELLANEOUS $ 30 $ - $ 100 $ 100 $ 100 5100 1OFFICE SUPPLIES $ 1,958 $ 958 $ 1,200 $ 1,200 $ 1,200 5200 OPERATING SUPPLY $ 13,991 $ 11,991 $ 15,350 $ 15,350 $ 15,650 5400 BOOKS, PUBLICATIONS, ETC $ 78 $ 78 $ 190 $ 190 $ 190 6400 EQUIPMENT ($750 OR MORE) $ - $ - $ - $ - $ - TOTAL SUPPLIES AND OTHER SERVICES $ 106,135 $ 99,005 1 $ 95,208 S 95,208 $ 96,307 TOTAL COST: $ 284,738 $ 276,71G $ 279,391 $ 279,391 $ 287,630 PROPOSED CHANGES 2300 Change in Health Benefits 4100 Reallocation of Communication Services based on # of numbers per Dept. 2400 & 4500 Projected Property and Casualty cost for 2018 3400 Website/and Continuing maintenance/Media Contractual Services 5200 Adding Office 365 annual software (1) Word, Excel, Email, PPT, etc 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 12 of 27 "' City of Okeechobee PROPOSED 2017/2018 BUDGET General Fund - 001 DEPARTMENT: GENERAL SERVICES (0519) PERSONNEL COST: 2015/2016 AMENDED 1 2015/2016 1 2016/2017 2016/2017 2017/2018 I EOY BUDGETI AMENDED ESTIMATES PROPOSED 1200 REGULAR SALARIES $ 66,934 IS 66,507 1 $ 68,958 $ 68,958 $ 71,310 11300 OTHER SA1A>tY i $ c 501 $ _ 2,3 [ 5 $ ' 31 c M00 JOVERTIME $ $ $ $ - $ 1510 LONGEVITY/SERVICE INCENTIVE $ - $ - $ - $ - $ - 2100 FICA $ 5,225 $ 5,170 $ 5,577 $ 5,577 $ 5,710 2200 RETIREMENT $ 8,675 $ 8,354 $ 6,900 $ 6,900 $ 7,004 2300 LIFE AND HEALTH INSURANCE $ 16,650 $ 16,451 $ 18,420 $ 18,420 $ 20,556 2400 WORKERS COMPENSATION $ 520 $ 465 $ 590 $ 590 $ 649 TOTAL PERSONNEL COSTS: $ 98,004 $ 97,448 $ 102,760 $ 102,760 $ 105,229 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 13 of 27 .OF•O.Yfpy fir► City of Okeechobee O PROPOSED 2017/2018 BUDGET o 9 General Fund - 001 DEPARTMENT: GENERAL SERVICES (0519) SUPPLIES & OTHER SERVICES 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED 3100 PROFESSIONAL SERVICES $ 125,250 $ 114,100 $ 125,250 $ 119,500 $ 124,050 3400 OTHER CONTRACTUAL SERVICES $ 93,896 $ 72,898 $ 80,110 $ 80,000 $ 80,110 4000 TRAVEL AND PER DIEM $ 4,960 $ 1,960 $ 4,960 $ 2,000 $ 4,960 4100 COMM. & FREIGHT $ 2,360 $ 2,207 $ 2,544 $ 2,300 $ 5,374 4300 UTILITIES $ 10.685 $ 8.307 . $ 9.600 , $ 8.600 $ 9,000 44000 RENTALS AND LEASES I $ 3,787 ' $ 3,687 ' $ 3,687 S 3,692 $ 3,687 4500 INSURANCE $ 17,176 $ 16,077 $ 18,108 $ 16,900 $ 18,900 4600 R&M VEHICLES $ 1,000 $ 500 $ 1,000 $ 500 $ 500 4609 R&M EQUIPMENT $ 17,456 $ 11,813 $ 16,000 $ 12,500 $ 35,910 4901 EDUCATION $ 300 $ 198 $ 700 $ 100 $ 700 4909 IMISCELLANEOUS $ 300 $ - $ 500 $ 500 $ 500 5100 1OFFICE SUPPLIES $ 2,900 $ 1,653 $ 2,900 $ 1,800 $ 2,900 5200 OPERATING SUPPLY $ 1,900 $ 1,518 $ 1,900 $ 1,800 $ 1,500 5201 FUEL AND OIL $ 325 $ - $ 325 $ - $ - 5204 POSTAGE & SUPPLIES $ 6,300 $ 4,330 $ 5,000 $ 3,000 $ 3,000 5400 BOOKS, PUBLICATIONS, ETC $ 200 $ - $ 200 $ 200 $ 200 6400 EQUIPMENT ($750 OR MORE) $ - $ - TOTAL SUPPLIES AND OTHER SERVICES $ 288,795 $ 239,248 $ 272,784 $ 253,392 $ 291,291 GRAND TOTAL FOR DEPARTMENT I $ 386,7991 $ 336,696 1 $ 375,544 1 $ 356,152 1 $ 396,520 PROPOSED CHANGES 2300 Change in Health Benefits 4100 Reallocation of Communication Services based on # of numbers per Dept. 00 Projected Properly and Casualty cost for 2018 3100 Adj. based on revisit of FLUM & Zoning Maps, add'I building Official meetings etc 4609 Adding outside Pressure washing, rep stucco, painting (CH, FD, RB), refurb landscaping CH, AED Cabinet, $400, Replace Chamber carpet & baseboards 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 14 of 27 ��- OF`O City of Okeechobee PROPOSED 2017/2018 BUDGET General Fund - 001 PARTMENT: POLICE DEPARTMENT (0521) PERSONNEL COST: 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED 1100 EXECUTIVE SALARIES $ 105,545 $ 103,253 $ 59,600 $ 59,600 $ 72,557 1200 REGULAR SALARIES $ 930,047 $ 925,047 $ 990,400 $ 990,400 $ 1,025,077 1201 HOLIDAY PAY $ - $ - $ - $ $ 1202 OFFICERS HOLIDAY PAY $ 20.563 $ 20,563 $ 27,146 $ 27,146 $ 27,533 11300 (OTHER SALARY $ 30,548 $ 30,548 $ 26,500 S 26,500 ` $ 26,998 1400 OVERTIME $ 10,414 $ 10,414 $ 15,000 $ 15,000 $ 7,500 1403 OFFICERS OVERTIME PAY $ 68,113 $ 68,113 $ 89,500 $ 89,500 $ 69,500 1501 AUXILIARY PAY $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200 1510 LONGEVITY/SERVICE INCENTIVE $ - $ - $ $ - $ - 1520 OFFICERS LONGEVITY/SERVICE $ 2,000 $ 2,000 $ 500 $ 500 $ - 1540 CAREER EDUCATION $ 13,047 $ 13,047 $ 14,250 $ 14,250 $ 14,250 2100 FICA $ 88,106 $ 87,105 $ 95,815 $ 95,815 $ 98,705 2200 RETIREMENT $ 233,020 $ 230,020 $ 308,400 $ 271,000 $ 279,494 2300 LIFE AND HEALTH INSURANCE $ 220,256 $ 217,256 $ 261,678 $ 261,678 $ 279,980 2400 WORKERS COMPENSATION $ 36,741 $ 36,741 $ 44,215 $ 44,215 $ 48,820 2500 UNEMPLOYMENT COMP. $ - $ - $ 3,200 $ 3,200 $ - TOTAL PERSONNEL COSTS: $ 1,759,600 $ 1,745,307 $ 1,937,404 $ 1,900,004 $ 1,951,614 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 15 of 27 City of Okeechobee *140 PROPOSED 2017/2018 BUDGET ral Fund - 001 DEPARTMENT: POLICE DEPARTMENT SUPPLIES & OTHER SERVICES 2015/2016 2015/2016 2016/2017 2016/2017 2016/2017 AMENDED EO)' BUDGET AMENDED ESTIMATES PROPOSED 3100 PROFESSIONAL SERVICES $ 19,515 $ 18,515 $ 20,608 $ 21,500 $ 23,826 3400 OTHER CONTRACTURAL SERVICES $ 24,122 $ 21,121 $ 30,728 $ 30,728 $ 30,708 4000 TRAVEL AND PER DIEM $ 3,808 $ 3,808 $ 5,000 $ 6,800 $ 5,000 4100 COMM. & FREIGHT $ 28,780 $ 27,780 $ 34,050 $ 34,000 $ 32,640 4300 UTILITIES $ 14,395 $ 14,394 $ 16,275 $ 14,700 $ 16,275 4400 RENTALS AND LEASES $ 3,690 $ 3,690 $ 5,420 $ 4,000 $ 5,420 4500 JINSURANCE $ 44,210 $ 44,210 $ 49,708 $ 46,000 $ 51,500 4600 R&M VEHICLES $ 8,288 $ 8,647 $ 10,000 $ 10,000 $ 15,000 4609 R&M EQUIPMENT $ 15,516 $ 15,945 $ 23,550 $ 23,550 IS 23,550 4700 PRINTING $ 510 $ 217 $ 2,000 $ 800 $ 2,000 14901 EDUCATION -RESTRICTED S 435 ' $ 435 $ 4,50L' S 4,500 I $ 4,500 4902 JEDUCATION - NON -RESTRICTED $ 800 $ 800 $ 4,500 $ 5,500 $ 4,500 5100 OFFICE SUPPLIES $ 2,015 $ 1,815 $ 5,000 $ 2,300 $ 5,000 5101 DETECTIVE SUPPLIES $ 3,065 $ 3,064 $ 3,000 $ 3,000 $ 3,000 5102 INVESTIGATION FEES $ 326 $ 325 $ 1,800 $ 500 $ 1,800 5200 OPERATING SUPPLY $ 9,208 $ 7,208 $ 17,100 $ 13,000 $ 17,100 5201 FUEL AND OIL $ 40,405 $ 40,404 $ 66,140 $ 45,000 $ 66,140 5202 JOPERATING SUPPLIES (TIRES) $ 8,476 $ 8,476 $ 8,000 $ 8,500 $ 8,800 5203 UNIFORMS/PATCHES $ 14,399 $ 14,399 $ 15,300 $ 16,500 $ 15,600 5400 BOOKS, PUBLICATIONS, ETC $ 2,221 $ 2,220 $ 2,500 $ 2,500 $ 2,500 6400 EQUIPMENT ($750 OR MORE) $ 3,913 $ 1,993 $ - $ 1,990 $ 8300 PUBLIC SERVICE GRANT $ - $ 1,916 $ - $ - $ 8301 FDOT -Traffic Safety Grant $ - $ - $ _ $ - $ _ TOTAL SUPPLIES AND OTHER SERVICES $ 248,097 $ 241,382 $ 325,179 $ 295,368 $ 334,859 GRAND TOTAL FOR DEPARTMENT $ 2,007,697 $ 1,986,689 $ 2,262,583 $ 2,195,372 $ 2,286,473 PROPOSED CHANGES 2300 Change in Health Benefits 4100 Reallocation of Communication Services based on # of numbers per Dept. 2400 & 4500 Projected Property and Casualty cost for 2018 1200 Adding Supplements for 3 Officers -Field Training & Intoxilizer 3100 Multiple yrs without increase (Crime lab) 4100 Added $2,000 for Cellular service for Veh computers 5202 Increase in cost for tire replacement 5203 Increase in cost for uniforms 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 16 of 27 *" City of Okeechobee PROPOSED 2017/2018 BUDGET General Fund - 001 DEPARTMENT: FIRE DEPARTMENT (0522) PERSONNEL COST: 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED 1100 EXECUTIVE SALARIES $ 70,862 $ 70,862 $ 71,646 $ 71,646 $ 74,169 1200 REGULAR SALARIES $ 634,096 $ 634,096 $ 682,520 $ 682,520 $ 710,232 1201 HOLIDAY PAY $ 20,003 $ 19,003 $ 25,015 $ 25,015 $ 25,390 1300 OTHER SALARY $ 26,530 $ 26,530 $ 28,649 $ 28,649 $ 29,278 1400 OVERTIME $ 24,857 $ 24,856 $ 36.910 $ 36.910 $ 38,800 11401 !OVERTIME PAY/ANNUAL & SICK $ 6i,877 $ 61,876 1 $ 60,060 $ 60,060 j 1 61,500 1402 DISPATCHER OVERTIME $ 4,869 $ 4,869 $ 5,850 $ 5,850 $ 4,750 1501 VOLUNTEER PAY $ 12,845 $ 12,842 $ 12,000 $ 12,000 $ 14,000 1510 LONGEVITY/SERVICE INCENTIVE $ - $ - $ 500 $ 500 $ - 1540 CAREER EDUCATION $ 1,200 $ 1,200 $ 1,200 $ 900 $ 1,200 2100 FICA $ 64,042 $ 63,042 $ 71,800 $ 71,800 $ 74,259 2200 RETIREMENT $ 162,012 $ 158,015 $ 192,040 $ 192,040 $ 190,256 2300 LIFE AND HEALTH INSURANCE $ 111,431 $ 111,431 $ 144,117 $ 144,117 $ 141,050 2400 WORKERS COMPENSATION $ 33,897 $ 33,899 $ 40,690 $ 40,690 $ 43,600 2500 UNEMPLOYMENT COMPENSATION $ $ - Is $ - $ - TOTAL PERSONNEL COSTS: $1,2289521 1 $1,222,5211 $1,372,997 1 $1,372,697 $1,408,484 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 17 of 27 ""' City of Okeechobee • o PROPOSED 2017/2018 BUDGET DEPARTMENT: FIRE DEPARTMENT (0522) SUPPLIES & OTHER SERVICES 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED 3100 1PROFESSIONAL SERVICES (MD) $ 7,200 $ 7,200 $ 7,800 $ 7,200 $ 8,400 3102 1 PROF SERV (PHYS FOR SCBA) $ 1,400 $ 1,400 $ 3,800 $ 3,800 $ 3,800 3103 IWELLNESS PROGRAM (Gym) $ 2,400 $ 2,400 $ 3,600 $ 3,000 $ 3,600 3400 JOTHER CONTRACTUAL SERVICES $ - $ - $ 2,450 $ 2,450 $ 2,450 4000 ITRAVEL AND PER DIEM $ 3,218 $ 3,218 $ 3,000 $ 3,000 $ 3,200 4100 ICOMM. & FREIGHT $ 12,977 $ 12,976 $ 16,403 $ 14,900 $ 23,030 4300 UTILITIES $ 10,515 $ 10,515 $ 14,000 $ 11,500 $ 13,000 4400 RENTALS AND LEASES $ 1,962 $ 1,662 $ 2,400 $ 1,870 $ 2,400 4500 INSURANCE $ 27,084 $ 27,084 $ 30,409 $ 28,500 $ 31,500 4600 R&M VEHICLES $ 30,943 a $ 29,943 $ 37,006 ° 7 17.000 $ 72,629 ° 4609 3R&M BUILDING & EQUIPMENT $ 27,948 S 26,943 $ 29,075 ° $ 29,075 $ 29,075 4700 PRINTING $ - $ - $ 600 $ 150 $ 600 4901 EDUCATION $ 4,950 $ 3,720 $ 11,000 $ 2,500 $ 11,000 4902 PUBLIC EDUCATION & FIRE PREY. $ 1,197 $ 1,197 $ 1,500 $ 1,500 $ 1,500 4903 CODE ENFORCEMENT $ 6,568 $ 5,568 $ 9,000 $ 8,000 $ 9,000 4905 ITRAINING & MATERIALS $ 3,821 $ - $ 3,500 $ 1,000 $ 3,500 4909 IMISCELLANEOUS $ 358 $ 358 $ 400 $ 400 $ 400 5100 1OFFICE SUPPLIES $ 2,173 $ 2,173 $ 2,420 $ 2,420 $ 2,541 5200 OPERATING SUPPLY $ 10,101 $ 10,101 $ 11,825 $ 11,000 $ 11,825 5201 FUEL AND OIL $ 5,983 $ 5,083 $ 9,190 $ 6,100 $ 9,700 5202 OPERATING SUPPLIES (TIRES) $ 4,325 $ 3,951 $ 3,500 $ 2,500 $ 5,000 5203 UNIFORMS/PATCHES $ 4,535 $ 4,434 $ 8,000 $ 5,400 $ 8,000 5400 BOOKS, PUBLICATIONS, ETC $ - $ 2,672 $ 4,000 $ 3,000 $ 4,000 6400 1 EQUIPMENT ($750 OR MORE) $ 2,672 $ 2,469 1 $ - $ - $ - TOTAL SUPPLIES AND OTHER SERVICES: $ 172,330 IS 165,067 1 $ 214,872 $ 186,2651 $ 260,150 GRAND TOTAL FOR DEPARTMENT $ 1,400,851 $ 1,387,588 1 $ 1,587,869 1 $ 1,558,962 1 $ 1,668.634 PROPOSED CHANGES 2300 Change in Health Benefits 4100 Reallocation of Communication Services based on # of numbers per Dept. 2400 & 2400 Projected Property and Casualty cost for 2018 45 1200 Adding a Fire Captain position on the Step Plan w/base at $44,857 1501 Add9 use of Volunteers to assist with events and coverage of station 1540 2 FF personnel qualify for pass through state dollars for education 4100 Add Cell reimb for Captain; FD increased by 5%; and balance of increase due to new Communication System 4600 Prior experience indciates higher usage & need; and Rebuild of Ladder truck engine C $35,000 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 18 of 27 City of Okeechobee = ° PROPOSED 2017/2018 BUDGET General Fund - 001 DEPARTMENT: PUBLIC WORKS (0541) PERSONNEL COST: 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED 1E0Y BUDGET AMENDED ESTIMATES PROPOSED ! 100 JEXECUTIVE SALARIES $ 140,319 1 $ 140,3i9 $ 143,4?0 ,_ S 143,470 ! $ I69,495 1200 IREGULAR SAL ARIES $ 260,800 $ 259,519 $ 310,300 $ 310,300 $ 279,958 1300 OTHER SALARIES $ 7,223 $ 4,223 $ 33,685 $ 33,685 $ 36,000 1400 OVERTIME $ 3,233 $ 3,233 $ 3,500 $ 3,500 $ 3,553 1510 LONGEVITY/SERVICE INCENTIVE $ - $ - $ - $ - $ - 2100 FICA $ 29,737 $ 28,736 $ 39,123 $ 39,123 $ 40,090 2200 RETIREMENT $ 37,909 $ 33,090 $ 43,500 $ 43,500 $ 37,867 2300 LIFE AND HEALTH INSURANCE $ 75,017 $ 75,017 $ 89,066 $ 89,066 $ 98,900 2400 WORKERS COMPENSATION $ 26,905 $ 26,904 $ 32,240 $ 32,240 $ 33,852 2500 UNEMPLOYMENT COST $ 428 $ 428 $ 300 $ 300 $ 500 TOTAL PERSONNEL COSTS: IS 581,571 1 $ 571,469 $ 695,184 S 695,184 1 $ 700,215 2017 09 05 Budget hearing Workbook.xlsx9/5/2017 19 of 27 .OF-OK�.Ch ``'� City of Okeechobee O PROPOSED 2017/2018 BUDGET General Fund - 001 DEPARTMENT: PUBLIC WORKS (M41 ) 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED 3100 PROFESSIONAL SERVICES $ - $ $ 5,000 $ - $ 5,000 3400 OTHER CONTRACTUAL SERVICES $ $ $ 2,800 $ $ - 3401 GARBAGE COLLECTION FEE $ 366,019 $ 366,019 $ 367,257 $ 370,228 $ 370,228 4000 TRAVEL AND PER DIEM $ 1,535 $ 1,265 $ 2,500 $ 1,500 $ 3,500 4100 COMM. & FREIGHT $ 5,440 $ 5,440 $ 6,500 $ 6,000 $ 7,032 4300 UTILITIES $ 14,516 $ 14,516 $ 18,500 $ 14,900 $ 18,500 4400 RENTALS & LEASES Is 923 $ 823 1 $ 750 1 $ 500 $ 2,250 4500 hNS U RANC El $ 3232 ° , $ 32.32.1 $ 35.788 S 30.900 c % 32.400 4600 R&M VEHICLES $ 6,725 $ 6,751. j $ 8,000 $ 8,500 $ 8,500 4605 R&M PARKS $ - $ - $ 7,500 $ 6,200 $ 7,500 4609 JR&M BUILDING & EQUIPMENT $ 21,621 $ 21,621 $ 22,500 $ 16,500 $ 31,750 4901 EDUCATION $ 1,602 $ 1,501 $ 4,000 $ 4,800 $ 5,000 4909 MISCELLANEOUS $ 402 $ 402 $ 500 $ 500 $ 500 5100 OFFICE SUPPLIES $ 866 $ 866 $ 750 $ 1,240 $ 1,000 5200 OPERATING SUPPLY $ 6,461 $ 6,526 $ 6,500 $ 6,700 $ 7,000 5201 FUEL AND OIL $ 16,187 $ 15,186 $ 27,050 $ 22,600 $ 27,000 5202 OPERATING SUPPLIES (TIRES) $ 5,396 $ 5,396 $ 3,500 $ 2,700 $ 3,500 5203 UNIFORMS $ 7,341 $ 7,561 $ 6,750 $ 6,400 $ 6,750 5204 DUMPING FEES $ 434 $ 455 $ 750 $ - $ 750 5205 MOSQUITO CONTROL $ 6,956 $ 6,755 $ 7,500 $ 6,000 $ 6,000 5400 BOOKS, PUBLICATIONS, ETC $ 500 $ - $ 500 $ 100 $ 300 6300 JIMPROVEMENTS $ - $ - $ _ $ _ $ _ 6400 1EQUIPMENT ($750 OR MORE) $ - $ - $ -Is _ TOTAL SUPPLIES AND OTHER SERVICES: $ 495,245 $ 493,404 $ 534,895 $ 506,268 $ 544,460 GRAND TOTAL FOR DEPARTMENT $ 1,076,816 $ 1,064,873 $ 1,230,079 $ 1,201,452 $ 1,244,675 PROPOSED CHANGES 2300 Change in Health Benefits 4100 Reallocation of Communtication Services based on # of numbers per Dept. 2400 & Projected Property and Casualty cost for 2018 4500 3100 50 hrs @ $50.00 Consultant fees, $2,500 4000 Travel for cont'd & cross training of employees, Traffic Signals,Pesticide Spaying, MOT 4400 Printer Copier Lease for PW Office (reduction in cost overall expected), $1,500 4609 Paint PW Bldgs, minor roof repairs, $2250; Privacy Windscreen Fence,$5,000; Barn Bathroom/Break room upgrades 4901 Registration and Certificate fees for cont'd & cross training of employees, Traffic Signals,Pesticide Spaying, MOT 2017 09 05 Budget hearing Workbook.x1sx9/5/2017 20 of 27 City of Okeechobee PROPOSED 2017/2018 BUDGET Public Facility Fund-301 Public Facility Fund (Transportation) 2015/2016 1 2015/2016 1 2016/2017 1 2016/2017 1 2017/2018 AMENDED JEOYBUDGETJ AMENDED I ESTIMATES I PROPOSED F/Y BEGINNING FUND BALANCE $ 415,658 $ 658,676 1 $ 658,6761 $ 638,971 1 $ 620,571 REVENUES 301-313.4100 LOCAL OPTION GAS TAX $ 366,195 $ 330,400 $ 330,400 $ 350,500 $ 331,500 301-313.4200 LOCAL ALTER, FUEL USER FEE $ 228,780 $ 207,500 $ 207,500 $ 220,500 $ 208,000 301-335.1220 SRS EIGHT CENT MOTOR FUEL $ 65,370 $ 67,500 $ 67,500 $ 66,500 $ 66,500 301-312.3000 NINTH CENT FUEL TAX $ 65,997 $ 57,000 $ 57,000 $ 60,500 $ 58,000 301-335.4100 MOTOR FUEL TAX REBATE $ 3,032 $ 2,500 $ 2,500 $ 2,500 1 $ 2,500 301-361.1000 SCOP Funding $ - $ - $ - $ 57,750 $ 177,537 301-361.1000 INTEREST EARNINGS $ 230 $ 350 $ 350 $ 350 $ 300 301-369.1000 MISCELLANEOUS $ 7,244 $ - $ - $ - $ - TOTAL REVENUES 736,848 665,250 665,250 758,600 844,337 EXPENDITURES 301-549.3100 PUBLIC FAC.-PROFESSIONAL SER. $ 25,000 $ - $ 25,000 $ 5,000 $ 25,000 301-549-3400 PUBLIC FAC. CONTRACTUAL SERVICE $ 77,700 $ 50,091 $ 51,000 $ 47,000 $ 51,000 301-549-4300 PUBLIC FAC. UTILITIES $ 87,300 $ 79,514 $ 77,300 $ 30,000 $ 30,000 301-549-4609 REPAIR & MAINTENANCE $ 17,500 $ 12,171 $ 18,500 $ 12,000 $ 18,500 301-549-4909 MISC-PARK HOLIDAY LIGHTS $ 2,000 $ 2,726 $ 5,000 $ 4,500 $ 10,000 301-549-5300 PUBLIC FAC. ROAD & MATERIALS $ 70,000 $ 89,533 $ 65,000 $ 48,500 $ 65,000 301-549-6300 PUBLIC FAC. IMPROVEMENTS $ 335,000 $ 335,000 $ 275,000 $ 275,000 $ 205,000 301-549-6301 SCOP IMPROVEMENTS $ 57,750 $ 57,750 $ - $ - $ 177,537 301-549.6302 PUBLIC FAC. BEAUTIFICATION $ 5,000 $ 5,000 $ - $ 1,500 $ 7,500 301-549.6400 PUBLIC FAC. MACHINERY & EQUIP $ 75,000 $ 75,000 $ 174,000 $ 31500 $ 188,000 TOTAL EXPENSES $ 752,250 $ 706,785 IS 690,800 1 $ 427,000 $ 777,537 Transfer to General Fund 1 $ 350,000 1 $ 350,000 1 $ 350,000 1 $ 350,000 1 $ 350,000 F/Y ENDING FUND BALANCE I $ 50,256 1 $ 267,141 1 $ 283,126 $ 620,571 $ 337,371 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 21 of 27 .OF-0 City of Okeechobee 140� O PROPOSED 2017/2018 BUDGET 13100 Engineering/Prot ServiceK $ 25,000 3400 Grounds Maint. Street Sweeping $ 51,000 4609 Repl small ROW equipment, Chain Saws, pole saws, etc as needed $ 1,500 4909 1 replacement light display $ 8,000 5300 Sign Repair/replacement $ 15,000 Traffic Signal Equipment Upgrades $ 10,000 ROW Drainage $ 10,000 R&M Roads and Culverts $ 10,000 Storm Water Infiltration Repair $ 10,000 Storm Water Ditch Maint Adjustments $ 10,000 6300 Asphalt Program $ 120,000 Sidewalk Program $ 85,000 ' SE 3rd Ave, Park St to SE 4th Ave and 6301 SE 6th St, US 441 to SE 6th Ave $ 177,537 6302 6 Replacement tables, Vet Park and Park 3 $ 6,000 6400 Altoz 66" Rough Cut Mower Deck $ 18,500 6400 Rough cut Altoz all terrain deck $ 3,500 6400 Zero turn mower $ 14,000 6400 Plate Compactor $ 2,000 6400 Sweeper $ 150,000 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 22 of 27 F L'``•O�OXFE�OT '`"' City of Okeechobee PROPOSED 2017/2018 BUDGET AL PROJECTS IMPROVEMENTS F/Y BEGINNING FUND BALANCE REVENUES 304-383.0000 304-364.1000 304-361.1000 304-369.1000 2015/2016 2015/2016 2016/2017 2016/2017 2017/2018 AMENDED EOY BUDGET AMENDED ESTIMATES PROPOSED $ 5,957,923 $ 5,957,923 $ 5,729,685 $ 6,150,300 $ 4,136,380 DISPOSITION OF FIXED ASSETS $ 246,000 $ 246,000 $ 237,600 $ 237,600 $ 225,000 INTEREST EARNINGS $ 4,000 $ 3,267 $ 5,200 $ 5,200 $ 2,500 MISCELLANEOUS $ 500 $ - $ 500 $ 500 $ 500 TOTAL REVENUES $ 250,500 1 $ 249,267 1 $ 243,300 1 $ 243,300 $ 228,000 EXPENDITURES 304-549-31,00 ProfessionalSerrices 304-529-4600 REPAIR & MAINTENANCE 304-513-3100 Professional Services 304-512-6400 ADMINISTRATION CAPITAL 304-513-6400 FINANCE CAPITAL 304-519-6400 GENERAL SERVICES CAPITAL 304-521-6400 LAW ENFORCEMENT CAPITAL 304-522-6400 FIRE PROTECTION CAPITAL 304-522-6401 FIRE PROTECTION CAPITAL 304-536.6400 SEWER/WASTEWATER 304-541-6400 PUBLIC WORKS CAPITAL 304-549-6401 PARKS CAPITAL IMPROVEMENT 304-549-6402 MEDIAN REPLACEMENT & ROW 304-584.6400 FUTURE CAPITAL PROJECTS 304-2512-6400 CLERK CAPITAL 304-584.7100 PRINCIPAL 304-584.7200 INTEREST F/Y ENDING F TOTAL $ 40.800 i $ 9.453 1 $ 25,000 ` r 25,000 25,000 $ 30,562 $ 100 $ 25,000 $ 25,000 j $ 25,000 $ 22,000 $ - $ 9,500 $ 9,500 $ 9,500 $ 50,000 $ 30,050 $ 6,900 $ 6,900 $ 4,230 $ 1,500 $ - $ 2,500 $ 2,500 $ 3,200 $ 114,500 $ 96,216 $ 66,000 $ 66,000 $ 35,000 $ 419,372 $ 408,526 $ 369,365 $ 369,365 $ 420,205 $ 50,200 $ 50,200 $ 53,000 $ 53,000 $ 100,800 $ 3,500 $ - $ 491,000 $ 491,000 $ - $ - $ - $ - $ 12,500 $ 100,000 $ 3,290 $ 6,900 $ 6,901 $ 19,250 $ 100,000 $ - $ 50,000 $ 50,000 $ 78,000 $ 50,000 $ - $ 85,000 $ 85,000 $ 30,000 $ - $ $ - $ - $ 18,300 $ 982,434 $ 597,835 $ 1,190,165 $ 1,190,166 $ 780,985 TRANSFER OUT TO Other Funds $ 382,162 $ 382,162 $ 316,020 $ 316,020 $ 53,060 TRANSFER OUT TO GENERAL FUND $ 899,441 $ 121,771 $ 796,722 $ 751,034 $ 535,453 TOTAL TRANSFER OUT $ 1,281,603 $ 503,933 $ 1,112,742 $ 1,067,054 $ 588,513 ASSIGNED FUND BALANCE TOTALASSIGNED FUND BALANCE $ $ - $ - $ - $ - UND BALANCE $ 4,926,820 $ 5,105,422 $ 3,670,078 $ 4,136,380 $ 2,994,882 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 23 of 27 *Aw City of Okeechobee *40 PROPOSED 2017/2018 BUDGET .4 Capital Projects Improvements Specific Projected cost/estimates m -Carpet, Lateral file cabinet.Admin & Chambers LED 512-6400 fixtures $4,230.00 512-6400 Admin Admin Subtotal $4,230.06 .................... . .... ........ 513-6400 . Finance Account Clerk desk, lateral file and bookcase Replacement plan for Computers $1,200.00 513-6400 Finance in Subtotal $3,200.00 519-6400 General Services New Front Doors @ City Hall $20,000.00 New Rear doors @ CH (kit, att off, south& north) $15,000.00 519-6400 General Services GS Subtotal $35,000.00 - 521-6400 Police Equipment for new cars including striping, etc. $44,000.00 _ 12 Replacement Police vehicles (Admin vet incl.) $276,000.00 i - Radar - _ _ I - $ 200.00 _ - 14 - Computers and related equipment (replacemenfi-) m 000,00 6 - Tasers $8,005.00 HID Security Lock System $15,000.00 New Roof $70 000 00 521 6400 Police PD Subtotal205 . 522-6400 Fire 2 - Portable Radios $8,000.00 SCBA Bottle Replacements (continued reoccurring) $5,000.00 SCBA Harnesses (6) $8,000.00 Fire Chief Ford F150 P/U w/equipment (lights, etc) $33,000.00 Code Enf Veh 2009 Replacement (High Maint) $18,500.00 Latitude 'rugged version" Laptop $2,800.00 Kitchen table & chairs for upstairs $2,500.00 Utility Trailer for Event Veh (golf cart) $1,000.00 AED Unit (replacement for Eng 6) Suction device Trk 8, Add for Eng 9 $4,000.00 6 - Sets of Bunker Gear $18,000.00 522-6400 Fire Fire Subtotal $100,800.00 541-6406 Public Works 1 - Operations Supervisor Computer $750.00 Gas Pump Replacement $10,000.00 Barn A/C upgrade/replacement $6,000.60 Backup Generator Enclosure $2,500.00 541 6400 Public Works PW Subtotal $19,250.00 541-6401 Parks 6 - Replacement Trees in Flagler Parks $14,000.00 Centennial Park - Exercise Equip $10,000.00 Centennial Park -BBQ Grills (12) $4,000.00 Centennial Park - Irrigation $20,000.00 Centennial Park - Landscaping $30,000.00 541-6401 Parks Parks Subtotal $78,000.00 541 6402 Median Rep Median Replacement &Right of Way $30,000.00 541 6402 Med Replacement Med Re I Subtotal P $30,000.00 536-6400 Sewer/Wastewater Ch_ambe_r Lift Station and hookup fees $12,500.00 536 6460 Sewer/Wastewater Sewer/Wastewater $12,500.00 2512-6400 Clerk Replacement Scanner for Laser Fiche $1,300.00 Video recording system $17,000.00 2512-6400 Clerk Clerk Subtotal $18,300.00 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 24 of 27 City of Okeechobee LL '" PROPOSED 2017/2018 BUDGET Other Grants RECAPITULATION - REVENUE & EXPENSES 2015/2016 1 2015/2016 1 2016/2017 1 2016/2017 1 2017/2018 AMENDED I EOY BUDGETI AMENDED I ESTIMATES I PROPOSED F/Y BEGINNING FUND BALANCE $ - $ - 1 $ 39,642 1 $ 39,642 1 $ 312,162 REVENUES 302-331.3903 302-331-3904 302-331.3905 302-361.1000, 302-381.0000 302-381.0000 TMDL Grant $ - $ - $ 183,630 $ 142,500 $ 41,130 Stormwater Drainage Grant $ 175,000 $ - $ 175,000 Section 319 Grant $ - $ - $ - $ - $ - {interest E"arnin; s $ $ $ - $ - ° $ - TRANSFER IN -CAPITAL ASSIGNED FUNDS $ - $ - $ 300,000 $ 300,000 $ - TRANSFER IN -CAPITAL FUND RESERVES $ 64,391 $ 65,162 $ 16,020 $ 16,020 $ 42,610 TOTAL REVENUES $ 64,391 $ 65,162 $ 674,650 $ 458,520 $ 258,740 EXPENDITURES 302-2552.3100 100 PROFESSIONAL SERVICES $ - $ - $ - $ $ - ADMINISTRATIVE SERVICES $ - $ - $ - $ $ - TEMPORARY RELOCATION $ - $ - $ - $ $ - HOUSING REHAB DEMO/REPL/RELOC $ - $ - $ - $ $ - MISCELLANEOUS $ - $ - $ - $ $ - MISCELLANEOUS - BANKING EXP PROFESSIONAL SERVICES $ 38,520 $ 38,520 $ 23,100 $ 14,000 $ 17,682 ADMINISTRATIVE SERVICES $ - $ 5,000 $ 1,000 $ - MISCELLANEOUS $ - $ 1,000 $ 1,000 $ 1,000 STREET IMPROVEMENTS/ADDITIONS $ - $ - $ - $ - INFRASTRUCTURE IMPROVEMENTS $ 175,000 $ 10,338 $ 175,000 Park and Canal Improvements $ 735,000 $ 510,192 $ 159,662 $ 377,220 TOTAL EXPENSES $ 773,520 $ 38,520 $ 714,292 $ 186,000 $ 570,902 F/Y ENDING FUND BALANCE I $ - $ 26,642 1 $ - $ 312,162 $ - DUE TO GENERAL FUND Grant related project Taylor Creek Park TMDL Grant $183,630; Matching, $183,630 (FEDP NS018) SFWM #4600003556 Stormwater Drainage cont. Project, $175,000 Professional Services - Grant application services - $ - $ 150,000 $ - 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 25 of 27 City of Okeechobee PROPOSED 2017/2018 BUDGET Appropriations Grant RECAPITULATION - REVENUE & EXPENSES F/Y BEGINNING FUND BALANCE REVENUES 307-334.3900 307-361.1000 307-381.0000 2015/2016 2015/2016 2016/2017 1 2016/2017 1 2017/2018 AMENDED) I EOY BUDGET AMENDED ESTIMATES PROPOSED > -.$ - $ - $ - $ - Appropriation Funds $ 300,000 $ 300,000 $ - $ - $ 209,000 Interest Earnings $ - $ - $ - $ - $ - TRANSFER IN -CAPITAL FUND RESERVES $ 17,000 $ 17,000 $ - $ - $ 10,450 TOTAL REVENUESI $ 317,000 1 $ 317,000 $ - $ -1 $ 219,450 EXPENDITURES 307-559.3100 307-559.3102 307-559.4909 307-559.6300 PROFESSIONAL SERVICES -Engineering Services $ - $ - $ $ - $ - PROFESSIONAL SERVICES -Grant Admin $ 9,000 $ 16,500 $ - $ - $ 9,450 ADMINISTRATIVE SERVICES $ 500 $ 500 $ - $ - $ 1,000 STREET IMPROVEMENTS/ADDITIONS $ 300,000 $ 300,000 $ $ - $ 209,000 TOTAL EXPENSES $ 309,500 $ 317,000 $ - $ - $ 219,450 F/Y ENDING FUND BALANCE 1 $ 7,500 $ $ - I $ - I $ - 334-3900 SE 8TH Avenue Project 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 26 of 27 City of Okeechobee PROPOSED 2017/2018 BUDGET LAW ENFORCEMENT SPECIAL FUND RECAPITULATION - REVENUE & EXPENSES 2015/2016 2015/2016 1 2016/2017 2016/2017 2017/2018 AMENDED EOY EST I AMENDED ESTIMATES PROPOSED F/Y BEGINNING FUND BALANCE I $ 2,9951 $ 5,111 Is 4,361 1 $ 4,361 1 $ 4,311 REVENUES 601-351.1000 601-351.2000 601-354.1000 601-361.1000 601-369-1000 CONFISCATED PROPERTY FINES LOCAL ORD. VIOL. $ 4,100 $ 850 $ 500 $ 900 $ 500 INTEREST EARNINGS MISCELLANEOUS $ 300 TOTAL REVENUE $ 4,100 $ 1,150 $ 500 $ 900 S 500 EXPENDITURES 601-529.4909 601-549.6400 LAW ENF. SPECIAL MISC. 601-549.6300 LAW ENE SPECIAL IMPRO LAW ENE SPECIAL MACH & $ 1,458 $ 200 $ 250 $ 750 $ 250 EQUIP $ 1,700 $ 1,500 $ 200 $ 1,500 TOTAL EXPENDITURES 1,458 1,900 1,750 950 1,750 F/Y ENDING BALANCES I $ 5,637 $ 4,361 $ 3,111 $ 4,311 $ 3,061 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 27 of 27 F/Y ENDING BALANCES I $ 5,637 $ 4,361 $ 3,111 $ 4,311 $ 3,061 2017 09 05 Budget hearing Workbook.xlsx9/5/20179:02 AM 27 of 27 .w, E)01181T # 6 2017 M ORDINANCE NO. 1159 AN EMERGENCY ORDINANCE ENACTED BY THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA TO ACCEPT THE CHIEF OF POLICE RECOMMENDATION TO EXTEND DECLARATION OF EMERGENCY AS PROVIDED IN FLORIDA STATUTE 870; PROVIDING FOR AN EXTENSION OF THE 72-HOUR DECLARATION; PROVIDING FOR DECLARATION TO CONTINUE FOR INDEFINITE PERIOD OF TIME AS DEEMED APPROPRIATE BY THE CHIEF OF POLICE AS STATUTORILY DESIGNATED EMERGENCY MANAGEMENT OFFICIAL FOR THE CITY OF OKEECHOBEE; PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Okeechobee, Florida, a municipality under the laws of the State of Florida, is empowered by F.S. 870.042 and 870.043 to declare the existence of an emergency within the City when in the opinion of the Chief of Police, the person designated by F.S. Chapter 870 as the Emergency Management Official for the City of Okeechobee; that a situation exists that potentially constitutes an imminent threat to public safety, peace or order, and threat to public and private property or persons; and WHEREAS, the City of Okeechobee, Florida is currently included in a hurricane warning issued by Emergency Management Services and the National Weather Center, which designation declares that the City of Okeechobee could experience hurricane force winds within 24-hours of such designation; and WHEREAS, the hurricane warning was issued by virtue of hurricane Irma, a category 5 storm with sustained winds in excess of 180 mph at the time of this ordinance, and which is predicted to pass over or very near to the City of Okeechobee on approximately Sunday, September 10, 2017, and such storm is capable of inflicting serious loss of property and or lives; and WHEREAS, the track of the storm is uncertain, but due to its present forward motion is expected to cause sustained winds, rain and potential for damage for a time period in excess of that 72-hour period permitted to be imposed by the Chief of Police; and WHEREAS, the City of Okeechobee is permitted to approve ordinances on an emergency basis with one reading, by virtue of F.S. 166.04(3)(b), and has taken all reasonable steps to advertise said meeting to the general public. THEREFORE, in order to preserve the peace and order within the City; to monitor and prevent civil unrest, looting or other unlawful conduct; to permit repair of utility and municipal services, clean up and restoration of basic services; and to assist in the protection of life and property, the City Council for the City of Okeechobee, Florida, by unanimous vote, adopts the following emergency ordinance to be effective throughout the municipal boundaries for the City of Okeechobee: THAT the Chief of Police, as designated Emergency Management Official for the City of Okeechobee under F.S. Chapter 870, possesses the authority to enact a state of emergency within the municipal boundaries of the City of Okeechobee or parts thereof. 2. THAT the state of emergency declared by the Chief of Police shall commence immediately upon his declaration thereof, but only continues for a continuous period of 72-hours, which may then be extended by this action of the City Council for the City of Okeechobee, Florida as provided in F.S. 870.047. 3. THAT at the request of the Chief of Police, the City Council for the City of Okeechobee, Florida hereby authorizes the extension of the state of emergency for a time period in excess of 72-hours if deemed necessary by the Chief of Police, and to continue for such time period until rescinded by the City Council, of the general state of emergency currently in effect be suspended by the Governor of the State of Florida. Ordinance No. 1159 Page 1 of 2 a 4. THAT for the duration of any declared state of emergency or extension thereof, and effective immediately upon the declaration, no person or entity shall sell, or offer for sale, regardless of whether consideration is passed, any firearm of any description or ammunition; and no person shall intentionally possess or display any firearm, therefore, excepting a duly authorized law enforcement officer of a person in the military service acting in the official performance of his or her duty. 5. THAT the Chief of Police, in addition, for the duration of the declaration or extension thereof, may enact in his discretion as necessary, the following additional emergency measures: a. A curfew restricting pedestrian and vehicular traffic within the City of Okeechobee, excepting law enforcement, emergency management, fire safety, or medical personnel acting in the performance of their official duties. The hours of the curfew shall be set by the Chief of Police. b. The sale or possession of alcoholic beverages with or without consideration may be prohibited within the City of Okeechobee between hours of the day as deemed appropriate by the Chief of Police. C. The Chief of Police may in his discretion order the closing of places of public assemblage, including commercial businesses for such hours of the day as he deems appropriate, until further order of the Chief. d. The Chief of Police is authorized to prohibit or restrict the sale or possession of gasoline or other flammable substance, regardless of consideration paid, unless delivered into a tank property affixed or attached to an operable motor vehicle by the manufacturer of said motor vehicle. 6. THAT PURSUANT TO F.S. CHAPTER 870, IT IS DECLARED THAT A VIOLATION OF THIS DECLARATION BY ANY PERSON SHALL BE PUNISHED AS A MISDEMEANOR OF THE FIRST DEGREE AS PROVIDED IN F.S. 775.082 OR 775.083 AND ENFORCED AS DEEMED NECESSARY BY THE CHIEF OF POLICE OR HIS DESIGNEE OR OFFICERS. 7. THAT this ordinance shall be effective immediately upon the expiration of the 72-hour state of emergency declared by the Chief of Police, and shall remain continuously in effect until rescinded by the City Council, or the general state of emergency currently in effect by order of Governor Rick Scott is suspended. INTRODUCED for First Reading and Emergency Public Hearing on the 5th day of September, 2017. Dowling R. Watford, Jr., Mayor ATTEST: Lane Gamiotea, CMC, City Clerk PASSED AND ADOPTED after First Reading on the 5th day of September, 2017. ATTEST: Lane Gamiotea, CMC, City Clerk REVIEWED FOR LEGAL SUFFICIENCY: Dowling R. Watford, Jr., Mayor John R. Cook, City Attorney Ordinance No. 1159 Page 2 of 2