Adopted FY 2014 - 2015 Budget - Laserfiche WebLink

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Water and Sewer Capital Improvement Fund The Water and Sewer Capital Improvement Fund captures impact fees from water and sewer connections from new development. No new capital improvements are planned in fiscal year 2015. STORMWATER FUND The City of Casselberry adopted Ordinance 759 establishing a Stormwater and Lakes Management Utility fee to address operational and regulatory requirements associated with the National Pollutant Discharge Elimination System and Total Maximum Daily Loads. The current residential rate is $7.00 per residential ERU and varies by the amount of impervious surface for commercial, industrial, and other uses. Expenditure by Type: Personal Services: Adopted fiscal year 2014 $481,181 adopted fiscal year 2015 $529,353 Dollar Variance $48,172 Operating: Adopted fiscal year 2014 $230,825 adopted fiscal year 2015 $345,925 Dollar Variance $115,100 Capital Improvements: Adopted fiscal year 2014 $1,289,700 adopted fiscal year 2015 $1,439,200 Dollar Variance $149,500 Debt Service/Transfers: Adopted fiscal year 2014 $233,733 adopted fiscal year 2015 $72,985 Dollar Variance $(160,748) Total: Adopted fiscal year 2014 $2,235,439 adopted fiscal year 2015 $2,387,463 Dollar Variance $152,024 Significant Capital Improvement Projects related to this fund are as follows: West Concord Drive drainage improvements - $340,000, Storm drain rehabilitation at various areas throughout the City - $932,400. Interfund transfers decreased due to a decrease in allocated overhead. Overhead is allocated based on actual Stormwater Fund relative spending that occurred in the most recently closed fiscal year (2013). Many projects are in the planning stage, resulting in decreased actual spending in fiscal year 2013. COMMUNITY REDEVELOPMENT AGENCY (CRA) The CRA is supported jointly by the City of Casselberry and Seminole County governments. Tax Increment Funding (TIF) supports this fund. TIF is the dollar value of taxes levied on properties within the CRA boundaries in excess of base taxable values at the time of the CRA inception in 1995. Since the CRA was created, the City and County have been contributing to the fund based on property taxes appreciated taxable values. These contributions provide funding to pay for the economic development initiatives as defined by the CRA Board. Property values are estimated to increase 2% according to the Seminole County Property Appraiser for fiscal year 2015. For fiscal year 2015 the General Fund expects to contribute $222,842 in TIF from the City to the CRA. An amount of $199,335 is budgeted for TIF to be contributed by Seminole County. page 21