1. Town of Lantana Budget Workshop July 27, 2009 5:30 PM TOWN OF LANTANA 2009/10BUDGETWORKSHOP

2. Town of Lantana Budget Workshop July 27, 2009 5:30 PM WHERE ARE WE? Almost there… Almost there… Workers’ Comp., revenue projections update, expenditure review Workers’ Comp., revenue projections update, expenditure review Met with departments to discuss budget Met with departments to discuss budget Reviewed budget at the fund level Reviewed budget at the fund level Followed budget strategy Followed budget strategy

3. Town of Lantana Budget Workshop July 27, 2009 5:30 PM PRIMARY FACTORS AFFECTING BUDGET REVENUES – GENERAL FUND REVENUES – GENERAL FUND Property values drop 13.7% Property values drop 13.7% Building Permits Building Permits State revenue sharing State revenue sharing Sales tax Sales tax Interest Income Interest Income TOTAL REOCCURING REVENUE DECREASE TOTAL REOCCURING REVENUE DECREASE ($500k) – fluctuations continue ($500k) – fluctuations continue

4. Town of Lantana Budget Workshop July 27, 2009 5:30 PM PRIMARY FACTORS AFFECTING BUDGET EXPENDITURES – UTILITY FUND EXPENDITURES – UTILITY FUND Well #12 Well #12 Lift station renovations Lift station renovations Other recommended capital projects per Town engineer’s 5-year plan adopted by Council within the Comprehensive Plan. Other recommended capital projects per Town engineer’s 5-year plan adopted by Council within the Comprehensive Plan.

5. Town of Lantana Budget Workshop July 27, 2009 5:30 PM TAXABLE VALUES CURRENT FISCAL YEAR Taxable value for FY09 budget Revised FY09 value Reduced by Value Adjustment Board $1.015 billion $1.009 billion $5.95 million.58%

6. Town of Lantana Budget Workshop July 27, 2009 5:30 PM TAXABLE VALUES NEXT FISCAL YEAR Taxable value for FY10 budget Decrease in value Percentage reduced $871 million $138 million 13.7%

7. Town of Lantana Budget Workshop July 27, 2009 5:30 PM AD VALOREM PROCEEDS Current draft is calculated at 3.2395 Current draft is calculated at 3.2395 Estimated taxable value – FY10 $871M Estimated taxable value – FY10 $871M Ad Valorem taxes at current rate $2.65M Ad Valorem taxes at current rate $2.65M (at a 95% collection rate) Percentage DECREASE in revenue 14% Percentage DECREASE in revenue 14%

8. Town of Lantana Budget Workshop July 27, 2009 5:30 PM GENERAL FUND Projected revenues Projected revenues Projected expenditures Projected expenditures Current deficit Current deficit 8,352,462 8,537,788 ($185,326)

9. Town of Lantana Budget Workshop July 27, 2009 5:30 PM GENERAL FUND REVENUES Decrease in property values while using same millage rate reduces revenue by ($450k). Decrease in property values while using same millage rate reduces revenue by ($450k). Other decreases in revenue due to economy – ($50k). Other decreases in revenue due to economy – ($50k). Transfer from Recreation Fund of $60k. Transfer from Recreation Fund of $60k.

10. Town of Lantana Budget Workshop July 27, 2009 5:30 PM GENERAL FUND AD VALOREM SCENARIOS

11. Town of Lantana Budget Workshop July 27, 2009 5:30 PM GENERAL FUND AD VALOREM SCENARIOS

12. Town of Lantana Budget Workshop July 27, 2009 5:30 PM GENERAL FUND AD VALOREM SCENARIOS

13. Town of Lantana Budget Workshop July 27, 2009 5:30 PM GENERAL FUND EXPENDITURES Personnel (79.75 FTEs) Personnel (79.75 FTEs) Operating Operating Capital Capital Debt Debt Transfers out Transfers out Contingency Contingency 72% 20% 2% 1% 3% 1%6,158,9101,729,178202,100122,500275,10050,000

14. Town of Lantana Budget Workshop July 27, 2009 5:30 PM GENERAL FUND Cost of Living (COLA) has not been included at this time. Cost of Living (COLA) has not been included at this time. Merit plan has not been included. Merit plan has not been included. Pension costs are projected at 19.23% for sworn officers and 7% for general employees. Pension costs are projected at 19.23% for sworn officers and 7% for general employees. Elimination of one general maintenance worker. Elimination of one general maintenance worker. Transfer to the Transportation Fund of $275,100. Transfer to the Transportation Fund of $275,100.

15. Town of Lantana Budget Workshop July 27, 2009 5:30 PM UTILITY FUND Projected revenue Projected revenue Less: Less: Personnel (19 FTEs) Personnel (19 FTEs) Operating Operating Capital Capital Debt Debt Projected deficit Projected deficit 4,990,339 1,357,270 1,994,025 696,300 1,045,100 ($102,356)27%39%14%21%

16. Town of Lantana Budget Workshop July 27, 2009 5:30 PM UTILITY FUND Increase in revenues from operations due to rate increase - $190k. Increase in revenues from operations due to rate increase - $190k. No merit or COLA included; pension reduced to 7%. No merit or COLA included; pension reduced to 7%. Includes debt payment of $1,045,100. Includes debt payment of $1,045,100. Includes capital requests of $696,300. Includes capital requests of $696,300.

17. Town of Lantana Budget Workshop July 27, 2009 5:30 PM TRANSPORTATION FUND Projected revenue Projected revenue Less: Less: Operating Operating Capital Capital Debt Debt Projected deficit Projected deficit 525,600 217,100 - 0 - 308,500 - 0 -41%59%

18. Town of Lantana Budget Workshop July 27, 2009 5:30 PM TRANSPORTATION FUND Revenue from gas tax receipts are flat. Revenue from gas tax receipts are flat. Transfer of $275,100 from the General Fund. Transfer of $275,100 from the General Fund. Includes debt payment of $308,500. Includes debt payment of $308,500. Includes $145,200 for street lighting. Includes $145,200 for street lighting.

19. Town of Lantana Budget Workshop July 27, 2009 5:30 PM WHAT IS NEXT? Tonight’s Council Meeting – tentative millage rate & date of 1 st Public Budget Hearing Tonight’s Council Meeting – tentative millage rate & date of 1 st Public Budget Hearing August – finalize draft budget for Council’s consideration August – finalize draft budget for Council’s consideration Incorporate Council direction into budget Incorporate Council direction into budget 1 st Public Budget Hearing is September 14 th at 6:00 pm in the Council Chambers – Council to set proposed millage rate 1 st Public Budget Hearing is September 14 th at 6:00 pm in the Council Chambers – Council to set proposed millage rate 2 nd and Final Public Budget Hearing is September 28 th at 7:15 pm – Council to adopt final millage rate for fiscal year 2009/10 2 nd and Final Public Budget Hearing is September 28 th at 7:15 pm – Council to adopt final millage rate for fiscal year 2009/10

20. Town of Lantana Budget Workshop July 27, 2009 5:30 PM THANK YOU