Adopted FY 2016 - 2017 Budget - Laserfiche WebLink

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which is allowed through the reduction in accumulated cash reserves briefly discussed earlier. These projects are consistent with the draft mobility master plan already reviewed by the City Commission. The Water and Sewer Fund has a proposed budget of $18,978,014 which is $1,037,193 or 5.8% greater than fiscal year 2016. The growth is found in Capital Projects which are $1,545,599 higher than the prior year and are partially provided for by drawing $954,842 from accumulated cash reserves. Highlights of Note in the Adopted Budget for fiscal year 2017 • The millage rate will remain at 3.1201 mills. The City is anticipated to experience an increase of over 5% of taxable property value applicable to fiscal year 2017 and the City will budget to collect about $3,666,915 in property tax revenue to support its $16.9 million General Fund budget. This amount is not the gross levy. It is net of early payment discounts afforded taxpayers and other collection expenses. • A salary merit/COLA increase is provided in an amount of 3% for all general employees (except the City Commission and the City Manager). The same increase is provided for in the budget for bargaining unit employees represented by the Teamsters. This anticipates the ratification of a new collective bargaining agreement which is still in negotiation. Salary increases are planned to be effective January 1, 2017. Inflation is predicted to be 2.3% in 2017. • The City has recently completed negotiations with the Florida State Lodge of the Fraternal Order of Police which represents Police Officers and Sergeants. The new collective bargaining agreement calls for a 5% raise in fiscal year 2017 also effective January 1. This raise serves to bring Police salaries into a level consistent with other comparable employers in the market. • Offsetting the growth in salaries the City negotiated coverage from a new healthcare provider in fiscal year 2017. United Healthcare was selected and the City will realize a 15% reduction in premiums. • The City's Neighborhood Improvement Grant program continues but will focus more in supporting neighborhoods to achieve a greater sense of identity and community. The funding provided is $50,000 in the Community Development Planning Division. • The City's employee roster has decreased by 1 full-time position and 1 part time position. This net change reflects position reorganizations discussed further in this message. • Water and sewer rates are approved to increase in fiscal year 2017 and are reflected in the Adopted Budget. A rate study was adopted in fiscal year 2013 which called for annual rate increases of 5% through fiscal year 2017. The increase in water and sewer revenues is relative to the planned rate increases in order to fund ongoing operating and capital needs, and is consistent with cost inflation matched to water and sewer utilities. As mentioned earlier a new rate study will be undertaken in fiscal year 2017. • Rates for stormwater, residential garbage collection and street light assessments are not proposed to change. • Budgeted capital improvements projects. o Equipment Replacement Police Patrol Vehicles (6) Parks Maintenance Pick Up Trucks (2) Streets Maintenance Backhoe (1) Facilities Cargo Vans (2) page 15