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17-18 Mid Year Amendment Presentation
Mid Year Review Financial Status City of Okeechobee May 15th, 2018 5/16/2018 FY 2018 1 Agenda 5/16/2018 FY 2018 2 Revenues Expenditures Highlights Adjustments Revenues 5/16/2018 FY 2018 3 Budgeted GF Revenues 5/16/2018 FY 2018 4 Ad Valorem 42% Half Cent Sales 7% Franchise Fees 10% Utility Tax 10% One Cent Sales 15% 6 Month Receipted Ad Valorem Revenues $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 2008 Budge t 2008 Actual 2009 Budge t 2009 Actual 2010 Budge t 2010 Actual 2011 Budge t 2011 Actual 2012 Budge t 2012 Actual 2013 Budge t 2013 Actual 2014 Budge t 2014 Actual 2015 Budge t 2015 Actual 2016 Budge t 2016 Actual 2017 Budge t 2017 Actual 2018 Budge t 2018 Actual Ad Valorem $2,205 $1,761 $2,131 $1,725 $1,890 $1,487 $1,738 $1,342 $1,747 $1,420 $1,697 $1,495 $1,740 $1,451 $1,750 $1,521 $1,868 $1,605 $1,914 $1,670 $2,075 $1,797 Ad Valorem 2008 79.87% $1,761,756 2011 77.21% $1,342,269 2018 86.58% $1,797,132 5/16/2018 FY 2018 5 Budget for 2008 was $2.2 vs 2018 @ $2.0 million Key General Fund Revenues 5/16/2018 FY 2018 6 $- $50,000 $100,000 $150,000 $200,000 $250,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 6 Month Actuals (excluding ad valorem) Annual Taxable sales (CY) 5/16/2018 FY 2018 7 0 100,000,000 200,000,000 300,000,000 400,000,000 500,000,000 600,000,000 0 50,000,000,000 100,000,000,000 150,000,000,000 200,000,000,000 250,000,000,000 300,000,000,000 350,000,000,000 400,000,000,000 450,000,000,000Okeechobee State Percentage of change in Annual Taxable Sales County vs State 5/16/2018 FY 2018 8 Column1 Taxable Sales % Difference CY 2006 $ 481,151,583 CY 2007 $ 440,331,420 -8.48% CY 2008 $ 430,117,579 -2.32% CY 2009 $ 348,888,481 -18.89% CY 2010 $ 351,021,852 0.61% CY 2011 $ 350,335,099 -0.20% CY 2012 $ 370,098,654 5.64% CY 2013 $ 409,032,993 10.52% CY 2014 $ 434,643,377 6.26% CY 2015 $ 468,840,155 7.87% CY 2016 $ 502,823,067 7.25% CY 2017 $ 555,663,406 10.51% Column1 Taxable Sales % Difference CY 2006 $ 344,220,495,590 CY 2007 $ 331,459,955,843 -3.71% CY 2008 $ 306,160,178,439 -7.63% CY 2009 $ 276,934,702,799 -9.55% CY 2010 $ 281,563,187,546 1.67% CY 2011 $ 295,656,019,811 5.01% CY 2012 $ 313,767,141,896 6.13% CY 2013 $ 334,425,939,399 6.58% CY 2014 $ 359,981,341,118 7.64% CY 2015 $ 387,085,180,814 7.53% CY 2016 $ 407,677,093,490 5.32% CY 2017 $ 423,795,022,627 3.95% -0.25 -0.2 -0.15 -0.1 -0.05 0 0.05 0.1 0.15 CY 2006 CY 2007 CY 2008 CY 2009 CY 2010 CY 2011 CY 2012 CY 2013 CY 2014 CY 2015 CY 2016 CY 2017 Okeechobee Florida Comparative 6 month Receipted Revenues (excluding Ad Valorem) $- $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 5/16/2018 FY 2018 9 Expenditures 5/16/2 018 FY 2018 10 Expended 43.15% of Budget Expenditures 5/16/2018 FY 2018 11 GF YTD Expended (3/31/18) by Department 43.47% 50.20% 48.05% 41.68% 43.41% 43.47% 44.58% 42.45% Expenditures all Funds (5 years) 5/16/2018 FY 2018 12 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Expenditures 5/16/2018 FY 2018 13 $2,000,000.00 $2,050,000.00 $2,100,000.00 $2,150,000.00 $2,200,000.00 $2,250,000.00 $2,300,000.00 $2,350,000.00 $2,400,000.00 $2,450,000.00 $2,500,000.00 $2,550,000.00 $2,600,000.00 $2,650,000.00 $2,700,000.00 $2,750,000.00 $2,800,000.00 $2,850,000.00 $2,900,000.00 2010 YTD 2011 YTD 2012 YTD 2013 YTD 2014 YTD 2015 YTD 2016 YTD 2017 YTD 2018 YTD General Fund YTD Expended (3/31/18) GF Annualized Budget by Department $2,286,473 Police Protection $1,668,634 Fire Protection $1,244,675 Roads & Parks $5,199,782 Legislative Executive Clerk Financial Services Legal Council General Services Law Enforcement Fire Protection Road & Street Facilities 5/16/2018 FY 2018 14 Budget Projections $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 GF Budget Expenditure Projections Budget Annualized Projection 5/16/2018 FY 2018 15 Highlights Most Revenues tracking as expected Maintenance cost increased Added School Resource Officer Program Other Expenditures are as expected Overtime hours are down for police compared to last year Centennial Park Phase 1 complete 5/16/2018 FY 2018 16 Activity increased in Building Dept. Gas Tax Revenues running at 2% more than last year Court Fines continue to decline Franchise Fees have slightly increased as budgeted Earned Interest increased Reserves are still healthy Bottom Line 5/16/2018 FY 2018 17 5/16/2018 FY 2018 18 Adjustment SRO operating cost for remainder of the year