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Yes, sir.
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The men in blue, would you please lead us in the pledge? ‸ Service.
I
pledge allegiance to the flag of the United States of America and to the republic
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Invocation, please.
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Thank you for giving us a chance to be with
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another day. Lord, bless us as we go through this meeting that we make the correct
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keep us in your care. Lord, when we leave this place, we want to just make sure that our homes are safe, our children are well taken care of. Lord, in Jesus' name we pray. Amen. Amen.
Thank
you.
Madam Clerk, may we do roll call, please, ma'am.
Mayor Blake. Present,
ma'am.
Deputy
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you. I ‸ don't have
COVID.
‸ Okay, thank you very much, Madam Clerk.
We
want to say thank you all for an attendance for today's budgetary meeting. This is a special city meeting, special city council meeting, and we want to say thank you very much for your attendance. This is the lineup for today. Our workshop topics include
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and after Stan Tech will be departmental budget presentations. Then we will break for lunch, and then we will resume our meeting, and
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and then council's discussion. Very active and busy day, so every minute counts, and I want to say thank you very much for your quality ‸ time. Please forgive me. I'm with my back to you, but I respect you too. We don't care. So any questions? Seeing none, Mr. City Manager, the floor is yours, sir.
Thank you, Mr. Mayor. Good morning. Good morning. Council members, staff, and the public. So this is, as you said, ‸ a day-long meeting where we want to cover many things that we want, all the questions that you have about budget proposals, all the way down to the line item asked and answered.
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and then we go to the recruitment and retention issues. Then we go to the general fund overview, and then the departments will take you through their budget requests. Again, their budget requests at this point,
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you all a balanced budget proposal, and I haven't done that yet. ‸ And so, again, we're going to talk about it all, including fund balances, ‸ and I've had this discussion with various people about fund balances and their ability to fund recurring expenses,
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with regards to fund balances, and hopefully Mrs. Bowman will clear that up.
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through the various departments. Let me, before we get started, there are two new staff members that I want to introduce, And we're very lucky to actually get these two ladies there, and so I feel fortunate, and they're in the audience, and I wanted to introduce them today. First is Dara Hennessy, who is the new assistant fire chief. And second is Stacy Hopper, who is a new planner.
Oh,
yeah. And this is actually Stacy's first day,
and
I feel very fortunate to get her, ‸ and
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So let me get started.
I
love that photo, by the way, just for the record, sir.
Yeah, we're doing all we can to make sure they know that we want them here.
It's a lot of things because every time it goes through,
either way,
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I've watched it.
Well, once it flies,
once
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it.
I see it. We're practicing. Yeah.
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Yeah.
So, again, hopefully that'll become reality for us in the distant future. So just want to give you sort of my overview of the budget proposal. Again, this is a very fluid situation, and So we're continuing to look at the various budget proposals, the various budget requests from the city departments.
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but you all are not slated to approve the tentative millage until, yeah, it's the 25th there, And so that's where you'll be asked to ‸ approve the tentative of the ‸ millage rate.
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these are Stockton's goals as
a
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city manager, is to actually the recruitment and retention of employees with specific emphasis on public safety and core services and
the retention of employees. Obviously,
continuing the union contractual pay increases, continuing pay increases for general employees,
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‸ and Mr. Walsh specifically has a proposal in his presentation that he's going to talk to you about. Maintaining the annual increases for water, stormwater,
and
fire to obviously address inflationary and operating capital increases, and that'll be Jeff, Pete, and Ralph taking you through that.
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And
so they'll take you through that. I think you guys are used to seeing that Stantec presentation. They're here again to do that sort of independent review of where we're going and run you through the scenarios there. And then just the proper funding of capital and one-time needs with recurring revenues, And we'll give you some more detail on what we mean by that. We have a lot of capital needs that have been deferred over time,
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budget proposal to actually align those needs with recurring revenue sources. Major increases as we see them at this particular point in time, obviously, and Stantec will get into this, Rebecca will get into this, There is a discussion about a, an increase, a millage rate increase to address the first bullet point, which is recruitment and retention pay program for public safety, Public safety being both police and fire. Union contractual pay increases, again, we're under contract with all of the unions with the exception of, is it one or two? Two,
two tenants.
Okay. And then general employee pay increases are, again, going to be in the budget proposal.
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Health insurance is, is going up, but we've actually done pretty well over the last three fiscal years in terms of health insurance. that we've, we've, I think, beat the market, if I, if I, if I'm remembering correctly, Tammy on that. Okay. And then pension costs are always an issue, And so we always have these big annual inflationary increases that we have to manage within the revenues that we have.
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but again, recall that your base is so depressed, so low that,
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and we've had a 20% increase in new construction. It just doesn't bring what you think that that would bring if you were in some other city with a higher taxable value tax base. And so the fiscal impacts of all ‸ this stuff that I talked about previously would be
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to pay specifically for and dedicated to first responder recruitment and retention program. ‸ Again, police and fire.
And
so, and so that half
mill
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is approximately 1.7 million and, and what we have on the table, what we will put on the table for police and fire will, will be approximately that amount. So the 1.7 million, um,
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I think we actually have drilled down on some of the major capital purchases if I'm not mistaken there.
And
so,
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recurring revenue stream. I think that's the only way that you're going to have a, a, a, a, a,
a, a, a,
a
planned, a, and to be anticipated capital program from year to year. Uh, big capital needs, um, probably in primarily all, all departments. Uh, and then approximately, um, utilizing an additional $700,000 in fund balance for capital and one-time purchases. Again, just the, the recurring revenues alone won't fund the capital requests, capital needs of the various departments. And so, we have to do a mix of, of, uh, recurring revenues and, and, uh, fund balances. Again, we'll talk a whole lot about fund balances because I really want, uh, to drill down on, on the story behind the numbers because if you just simply look at the numbers there, you, you,
you,
you really can't get full context of, uh, of, uh, fund balances and the, and the issues associated with fund balance. And so, that's, that's my sort of very, uh, brief overview, my sort of framing of where we are in terms of my thought process as we go into delivering within the next two weeks a balanced budget proposal, uh, to you guys. And so, I'll stop here and take questions before I turn it over to Jeff and his team. So,
if
you don't have any questions, Jeff,
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Uh, you should. Yeah, I'll go make sure you do.
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Yeah. Yeah, they're,
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No, I don't,
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we'll get those,
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Well, it's good to be with the city again this year. And we have a presentation that we'll go through considering the results of our annual analysis for the general fund, the utilities fund, the fire assessment, and the stormwater fund. And ‸ again, highlight the ‸ sufficiency ‸ and financial sustainability analysis that can perform for each of those key components of the city and how they impact the budget. ‸ And ‸ Pete and I will kind of transfer back and forth depending on which fund we're talking about, but open to questions and discussion and want to provide you as much information as we can.
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our role really is to provide an outside third-party set of eyes on the sustainability of the city's funds and offer recommendations on some solutions from a revenue and expense standpoint to make sure that ‸ in conjunction with your budget, you're able to meet the goals of the city. So with that, I'll turn it over to Pete.
All right. Thanks, Jeff. Good morning, everybody. My name is Peter Napoli. I work with Stantec. I'll be going through the first little collection of slides, which includes an introduction and an overview of our process.
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and he is our specialist with the models. He's got all the financial models, so if we wanted to dig into any details, we could do that. But ‸ mostly we have a brief presentation for you guys just overviewing the results. So as I said, the ‸ agenda is going over the foundation of the analysis. ‸ What is it exactly that we do for the city? Then we'll get into our general fund analysis. So we have a separate analysis just for the general fund that looks at the finances and the departmental expenses and revenues associated with the general fund. Then I'll hand it back over to Jeff. He specializes in the water and sewer and the utility forecast, so
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and then I'll go over the stormwater, and we'll wrap it up. Oh, ‸ that looks smaller on that screen than I thought.
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provided. We work with your budget team, although we are a third-party independent. I'm a consulting firm. ‸ We use your data, so your current year budget, fiscal year 23, revenues and expenses. We use your fiscal year 2024 budget, and then we layer in our assumptions that help project for the future ‸ and create that 10-year forecast.
And the goal is to really provide you guys options
and ‸ give you an outlook on how certain decisions will change your financial outcome ‸ and help you guys make decisions today. So the models are flexible, and you can look at different scenarios and see how that impacts the sustainability of your funds. So our source data there at the bottom of that last section of this slide includes the 2023 adjusted budget, including personnel increases,
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So those are the specific projects that your city has identified as being priorities to be funded by either the general fund or the utility fund and their stormwater funds. So starting with the general fund analysis, some key planning observations and considerations here are summarized on this slide.
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We
evaluate the sufficiency of your revenues and your general fund from property taxes and other sources to meet projected costs.
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sales tax that's allocated from the county. There's a number of charges that are also used to fund the departments in the general fund. So those are all included in our model. Some of the observations we're assuming, and we do have one scenario related to this, the salary increases as the city manager alluded to, but we're assuming for the most part that your current budget as presented in 2024 throughout the forecast is resuming at operating levels. So
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This is as operating today,
um,
played out forward.
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the model.
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fund sustainability. And, uh, it's about an additional 500,000 in costs.
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The CIP for the general fund reflects a conservative spending assumption of about an annual average of 1.7 million. And as Stockton said, the goal is to reach about
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for the general fund to contribute to the CIP. We've also included in our scenario that the continued plan of fire assessment rate increases at 3% a year to keep up with the increase in fire rescue costs.
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all the funds, uh, long-term escalation of costs, um, uh, will always outpace revenue growth if there aren't rate adjustments. Um, if the revenue rates are remain the same, the costs, the growth in costs will outpace it. So that's why you have to look at your rates and fees and adjust annually, um, according to the growth
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costs. And, uh, another key issue is that the, the high, the higher long-term salary increases are programmed into the model. I think, um, previously we're working with an assumption of on average over 10 years, 3%. And with discussions with management and budget, it just doesn't seem that that's going to cut it in the market because the market is really aggressive.
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And obviously that's a key initiative for the city. Uh, so we've increased our assumption, the average assumption of escalation for salaries in our models to be more realistic.
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‸ So this screen here summarizes the results of the general fund analysis. And I know it's a lot to look at, but I'll point out the key components of this.
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Uh, the top line, if you can read it, uh, is the millage rate. And we've assumed that the millage rate in this current scenario is held ‸ flat over the 10 years. Um, on the left-hand side, the upper left-hand graph, that's the graph that represents your fund balance. So how much money the general fund has
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basically its savings account each year. And how, how it's projected over the 10 years, um, with the effects of cash flows. So we're projecting the revenues. We're projecting the expenses. If your expenses are more than your revenues, you'll start to chew down that fund balance over time. Uh,
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the black line represents the revenues. So you can see in the outer years, right around fiscal year 2028, we're projecting those expenses to outpace the revenues. ‸ And as that gap widens, you'll see the fund balance be depleted on the left-hand side. So those blue bars start to go lower and lower. And when they're below that black line, that black line represents your minimum reserve requirement, which is a city policy for emergencies, liquidity,
um,
etc. So, uh,
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The, the, uh, fund balance is mostly stable. Um, but it's something that we're, we're forecasting to happen. The cash out is gonna ‸ exceed the cash in. This is, uh, uh, the scenario that, uh, we're recommending or we're looking at,
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Uh, so you can see that overall the 10 years, the fund balances are more stable.
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um, which is pretty far out there and there'll be a lot of adjustments between now and then.
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increases because salary increases are a long-term effect. It's not just a one-time expense. It stays on the books each year and has a cumulative impact on the fund. Similarly, a millage rate increase has a long-term effect too. It's additional ongoing revenue. It's not a one-time grant or a one-time funding source. So,
uh,
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recommendations and analysis.
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Um, so we know your assumptions, um, in terms of salary increases. What about property values? Um, what about development? Sure.
Do you
have any assumptions for those?
Yeah, absolutely. It's a crucial component of the general fund analysis to project the property, uh, value increases. And there is a lot of uncertainty ‸ when it comes to that.
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or may not occur due to a number of things.
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appraisers already provided the city what you guys know will be the increase for next year.
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good. Um, next year, that's not something you want to project each year, um, and have a conservative model because it's just overly aggressive. Uh, however, we do show a substantial amount
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or so. And that is because there are a lot of development projects in the pipeline and that will contribute to the overall tax base increase. Um, so even in the baseline scenario, um, without the millage rate increase, we have all that programmed in so that you're technically your revenues are going up because you're seeing
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taxable value increase, but the millage rate stays the same.
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it's still more than the growth in that development and existing property values bring the tax base. So this slide here summarizes the, uh, impact of the 3% fire assessment rate. Um, we have, uh, kind of three components of the fire assessment rate. It's the residential rate per dwelling unit, the tier one rate and the tier two rate. Uh, you'll see that, uh, currently residences pay 235.62, um, annually. And with the 3% increase, it goes to 242.69. So about a $7 increase. Uh, the estimated collected revenue is shown below and, and we also include a line that, that totals up the actual cost of fire rescue in the budget. So the fire assessment only actually brings in about 50% of the cost. Uh, the rest is funded from general revenues, um, and your general fund. So that's just something to keep in mind.
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cost recovery, uh, that is an option.
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rate, um, in, uh, survey form and how it compares to other entities across the state. I know it's really small, but the orange line is currently where you're at.
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So it, you maintain your position in the survey.
You
just, uh, it's increased slightly. So you're kind of towards the bottom half of the overall regional, um, entities that charge fire assessments. And with that, I'm going to hand it over to Jeff to go over water and sewer.
So just, just as Pete covered for the general fund, um, ‸ want to cover some key observations and considerations that were built into the analysis for utilities this year. Uh, but a little bit of background, I think
is
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helpful to, to make sure that everybody understands kind of where the, where the cities come from, uh, from a rates perspective for utilities. So each year, as we're sitting here today, the utility has for
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12 to 13 or 14 years done this annual revenue sufficiency analysis, uh, for utilities. Um, as, as you're also where most of your customers are outside city, or they're not actual city of cocoa residents.
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do come from outside the city.
I
just want to make sure that everybody understands that. Um,
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last year's analysis, the city implemented or continued a 4% annual rate indexing plan that was first adopted by resolution back in 2021. Um, and last year's analysis called for that 4% water sewer rate, annual indexing plan to go ‸ through the forecast
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Similar to all the other funds that we're going to cover today, that the primary objective of this is to make sure that, um, the, that adopted rate indexing plan is sufficient to cover the utilities costs, not just for this upcoming budget year. Uh,
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term,
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in some cases. And we can't just plan on a one year basis.
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capital plan that, um, require kind of persistent and continuing tracking of the fund performance.
Uh,
the other main component along those lines is to develop a capital financing plan. So particularly again, with utilities and the nature of, of utility infrastructure, we're talking about a capital improvement plan in the neighborhood of, you know, 20 to $30 million a year, potentially given, you know, the fluctuations based on the needs of the of the utility on any given year, but we've got to develop a plan that balances, uh, the rate increases with grants that may come in with potential debt financing down the road, um, as well as available cash and balances. So there's a whole dynamic capital improvement plan funding process that has to happen. That's goes beyond just the next budget year. Uh, the key issues that we really looked at this year that impacted the utilities fund. Um, you're going to hear this for all the funds again, as well, I feel like a little bit of a broken record, but, um, there is substantial inflation and utilities are not immune to that. And in particular, actually, in some cases, utilities are more affected.
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budget, um, compared to last year. And that's more than triple, you know, what overall inflation has been. And that's a cost
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Um, Capital construction costs for utilities have also skyrocketed much higher than regular inflation. Uh, that's, there's issues with supply chain, contractor availability, uh, competitiveness between contractors. And so there's a lot of,
um,
additional inflation that utility faces that, that, you know, just your overall CPI wouldn't necessarily capture. As we develop the financial management plan or update it each year, uh, there are several key components that we look at to make sure or how we measure the sustainability. Ultimately, you need a financially sustainable utility. So
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that's financially sustainable really to, to support a city,
a
growing city and really any city and quality of life. And so
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at levels that they fund the cash flow needs of the system. So this means your annual operating expenses are covered. The capital costs
or
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a plan is developed to fund those, um, to have that continuous reinvestment into the, into the utility system.
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We've got to make sure cash flows are, are sufficient. Number two is, um, we've got to make sure that we maintain a sufficient fund balance. Um, just as any household from any financial planning planner would tell a household, Hey, you, you really should maintain a, um, an emergency fund. Um, your fund balance or your operating reserve sort of works in those, in that context. So you have, um, ‸ emergency fund or operating reserve is important because it funds unforeseen capital expenditures. Uh, we've dealt with clients last year, city of Fort Myers and city of Cape Coral who dealt with the devastating hurricane. And there are, there are absolute cash flow needs for utility at that point. You have revenues that may stop for a period of time. Um, and you just, things like that you can't necessarily plan for. So we've got to have some, some funds available in, in a reserve.
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to maintain debt service coverage ratios. And debt service coverage is really just, uh, your net revenues after you've paid for operating expenses that are available to cover your annual debt principal and interest payments. So you have promises made, um, as
an
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issuer of debt that you have to repay that debt and you have to maintain coverage levels at certain ratios. And so we are over the last several years. And again, this year, uh, looking to maintain at least two times debt service coverage ratio, the higher debt service coverage ratio, it offers more ability to cash finance, uh, ‸ capital improvement plan and preserve utilities borrowing capacity, which I think is going to be particularly important in the next several years.
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um, advanced water treatment and, um, other regulatory needs that, that you're going to face. And so I think you want to be able to maintain your borrowing capacity.
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based where there's a lot of potential for grant opportunities. And so we factor that into the analysis as well. This is the overview or snapshot of the utilities analysis for this year. Again, we have a 10 year projection and we are recommending a continuation of the 4% annual, um, rate indexing plan that that's already been approved, but a continuation of that, uh, for 2024 and beyond, uh, with this plan, we're, we're meeting those cashflow requirements, the meeting, the six month reserve target,
um,
covering our debt service coverage ratios. And then you will see in the bottom right graph,
uh,
we
have
some, the potential for some future borrowing,
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but that's really going to be contingent upon the execution of the CIP, um, grant funding that may be available and ‸ whole other
host of
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variables, but we're looking longer term now for future debt. This is a local comparison that we always like to provide you. I think it's really informative. It shows you how your rates compared to other local providers. Um, and so you'll see your current rates are, this is
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You're right there in the ‸ orange, uh, outline with your current rates. Um, if you do the 4% increase next year, continue that you would, you see the cocoa proposed FY 24, um,
uh,
one space above Palm Bay there. Um, but that's, that's compared to every other community at FY 23 rates. So it doesn't factor in any increases that they may
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And what we've seen with clients across Florida and throughout the industry is there are almost every community is doing rate increases. Um, nowadays,
uh,
Palm Bay is on a plan
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You're in a similar spot. Yeah, very similar. I don't have it right in front of me, but yeah.
And do all your assumptions you take into a town, are
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No,
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a great question. We, we do have, um, about, it's about one, it's about,
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average, um, growth
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somewhere in that range in terms of new, um, new connections. And that's, that includes your outside city areas, not just within the city on the water side.
And
then obviously similar percentage, but fewer connections on the sewer. And then also factored in is projected impact fee revenue that you would get from those new connections. So that would help pay for any kind of growth related projects as well.
Okay.
The next graph is, you
know,
it looks like my heading got cut off here, but, um, this is just a water only because you have so many, so much of your system are water only customers and they get their sewer service provided elsewhere. And we wanted to show what your current and then proposed water only bill would be. Now, this is for an inside city customer, your outside city customers pay 10%. Um, so, you know,
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And they will possibly,
like us equitably speak,
you
can have a rate increase
to
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as well. So it's universal. Yeah. Yep. You're definitely not. But they also,
we also pay a 10% service tax if you live in the city. So ‸ essentially we pay the same rate.
Yeah. From a, from a rates perspective, um, this just captures, um, non-tax. Yeah. She's talking about the public service.
Public service utility tax. Yeah. I'm
referring to the outside city. Yeah. Rates are charged. But,
others-
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So
do they pay that on top?
Yeah. Other cities also have the public service tax too.
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talking about the outside right there.
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so we're not, we're not equalized because we have the public service there because they, they have it too.
I
haven't checked on which Brevard cities have it, but I'm pretty sure most, if not
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thank you for that. Any questions on utilities before we move on?
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I mean, absolutely. As a regional regional provider of water, too, I mean, you think of not just the city of Cocoa doesn't rely on your utility department, but actually the whole, much of Brevard County and the region does as well. So, um I think from a, from a rates perspective, you saw on the, on the comparison there, there are utilities of various sizes, but to me, that's more of a, there are a lot of factors that go into rates for a community. But
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far as rates. I mean, that's, you're, you're right where the region is, as far as you're not an outlier from a cost perspective. And so, um you know, there are, there are a lot of different dynamics that go into each
utilities
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finances, but I think you're, you're doing a, the
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doing a great job. um from what I can see, just from the numbers and how things are shaping out. And
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yeah
‸ I have gotten a couple
‸ sips here. So,
more to come. So thank you. Thank you for your assistance I'm not trying to put you under the fire, but guess what? Welcome to the club. okay
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Pete again here, um to go over the last, uh part of our presentation, we're going to look at the stormwater fund. uh so the stormwater, the city has a stormwater fund where, a non-advalorum annual assessment, a special assessment is charged to residents, uh and it funds stormwater operations costs and stormwater capital. uh so, uh in addition to the general fund
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at the stormwater fund and ensure that they have sufficient revenues to cover their ongoing costs.
uh
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uh fund balance requirement that we include, uh
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liquidity and also for unforeseen ‸ emergency circumstances. uh there would also be impacts to the stormwater fund if there was a natural disaster
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we, uh
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we had an annual plan of
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increases. um There
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also assumptions for grant funding. uh Grant funding is a huge part of funding stormwater capital, and it's an ongoing effort. um And we've included certain projects projects that we, uh and the city expects to be grant funded. So those assumptions are uh reflected in our financial model The uh the capital plan uh increased uh since the last time we looked
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So uh that is an impact to ‸ the the financial forecast. um But there's also, as I said, that grant funding is a part of the uh the funding source for the capital plan. uh So really the key issues on the stormwater side, it's really capital intensive. um The the main cost and the main pressure on the assessment rates is is from capital uh
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as far as stormwater improvements across the across the city. um And there is also a plan not just for new and expansion of stormwater facilities, but for the replacement of old and the rehab. So uh rehab and replacement of aging infrastructure is included in that capital plan. So as uh the other two forecasts, we have uh this is the dashboard from our financial model and and summarizes the plan here. And we've maintained that
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um
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uh similar to the fire assessment and similar
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is held throughout the 10-year period. And under this, um uh the results of this analysis, it shows that it provides sufficient revenues uh to maintain that fund balance over the 10-year period and fund
uh
a portion of that capital plan. uh So the middle, the bottom middle graph kind of shows the capital plan and what's funded in green with operating cash or assessment revenues.
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amount of uh grant funding there.
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I just wanted to point out the sustainable plan on the upper left hand graph that shows the fund balance or the the savings account for the stormwater fund. And it's maintained above that black line in all 10 years of the projection period. So this is an ideal result. This survey here shows your stormwater assessment rate in relation to others across the state. uh it's currently 131.77 and uh that's for one eru um depending on this the amount of impervious surface on your property, that's how the stormwater rate fluctuates.
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uh So
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uh is shown by that green ‸ bar there. So uh a small jump over
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um but not at the top of the list, uh not at the bottom of the list. So uh kind of the upper middle half there.
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know, there's cities really have varying levels of stormwater level of service. uh They may, some cities may pay more attention to it than others. And, you know, some cities have really bad flooding issues and uh also are in dire need of more stormwater infrastructure. So um that's the thing that isn't shown in these surveys is their level of service and and what they're actually ‸ providing to their residents. Can
I ask a question?
Sure.
The, uh this may be for staff.
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reserve or is this separate from
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Okay. And, uh now we just have a summary page to kind of wrap things up
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uh issue there was the increase of the
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by a half
mil
uh and that helps the general fund achieve a longer term sustainability of fund balance and an ongoing, uh funding source for things like salary increases and capital annual capital spending.
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to keep up with uh
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The water and sewer utility had the continuation of the
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annual rate indexing plan. So an increase to the water and sewer rates of
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And the stormwater rate also had a
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increase, uh to the rate.
And can you tell me that on the stormwater, what is the increase?
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question for Chief
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heard rumors that they're going to give
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is ‸ not a patient. Can I answer that?
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and I'm gonna ‸ answer that as a as a former uh as the former county manager here. uh That's that's not gonna ‸ happen. That's just not gonna ‸ happen. It's just a
rumor.
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i mean and and and the the i mean here's the the thought process is is that if you if that happens, you'll have 14, 16 different emergency transportation systems. And so it's a unified system right now. And I think the county is always interested in maintaining that. But I can tell you, as a former uh county manager and spending 23 years over
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yeah
that's really that's the conclusion of our presentation and uh we're here uh to answer any questions if you might have any but um yeah we appreciate uh having the chance to work for the city and um as always happy to help and
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‸ average increase what would that boil down to
yeah it was so it's about for a combined bill um
yes
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water and
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So
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there, it's a you
know
it's different for me when I came over um to have uh an outside consultant
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on our projections. And and also doing their independent review. And remember that they have many more clients than just the city of
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And so they're they're benchmarking us against what other um municipalities are doing. um you know As we talked about uh taxable values and and growth there, you know we we have those sort of full discussions about uh the assumptions in the template there. And so we were I think we're still conservative on that. i got my fingers crossed that we're conservative on that. but But we're a little bit, we've adjusted them up um to be more realistic with what's happening here. And so you know I appreciate being able to sit down each year and have them go through sort of the rhyming reason of the of the rate adjustments. There
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And so so again, i I really appreciate that. And they do a great job. i I first encountered uh their model when we did the fire assessment over at the county there. And so I know it's it's sort of tried and true. and And they perfected it to a great extent. um And so again,
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to the table, as well as other staff members, Kelly and other staff ‸ So um that's their presentation. If you don't have questions, I'm sure they have other stuff they'd like to do
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sit here uh for the rest of the day with us. If you want to stay, that's great. but all
right We have any additional questions, Council? Thank you for your detailed and thorough presentation. That speaks quality about ‸ Thank you very much, gentlemen. This is my,
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give or take?
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this, provide the services to as well?
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okay. Yeah, okay,
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‸ it's great to see faces that we can recognize and
count upon.
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So, thank you, thank you guys. Thank
you. um
‸ Mr. Mayor, we'll we'll move along here.
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‸ there.
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to to recognize her and, you know,
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State, but Miami is okay with us. And so,
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uh one of the more impressive resumes I've ever seen. she She is a undergrad chemistry of Miami. She is graduate chemistry FIU. uh And then she is a professional engineer from FIU. So it is a a very impressive. uh ‸ And also when you take your lunch break, that's a working lunch. So you'll be doing the uh the IT, you'll have
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but a lot of what IT does is, is, a not subject to, a public disclosure. I'll say it that way. um so we'll move on. I think, Rebecca, we had Tammy going next. um
no, I was just doing the general budget
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So we'll do, we'll do the general budget overview and then Tammy will talk about pay stuff. um ‸ okay. Thanks, guys. um
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‸ Okay, so I'm going to, uh just provide you ‸ with, um uh high level budgetary highlights. um and then when we come back at the council meeting on the 25th with a balanced budget, um
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But right now the discussion is just the issues that we have. So
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So just as a reminder what the charter requirements are for, uh submission of the budget, uh the city manager has to submit his recommended budget for the next fiscal year. um essentially by September 30th, needs to be adopted before the last day of the fiscal year. um
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council shall hold public hearings on the proposed budget. And we
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and then ‸ you need to um make sure that you hold the first public hearing and then a second public hearing. uh When you adopt the budget, uh
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so uh we'll be right at that last week of September uh bringing you the final budget. And then it uh states what should happen if council does not adopt a budget by that date. So um this is a list of previously stated council priorities. um You all have seen this list before, um and we just wanted to highlight that there are some things that were funded in the current fiscal year's budget or are in process. um So
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uh put some money aside um for the museums based on council recommendation that was uh coming from a signed fund balance. um
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uh That's been somewhat challenging because we're not getting uh bidders to respond to our bid requests. And
we actually have an item on for tomorrow. Tomorrow, Yeah. um
There's additional funding for Upstart Cocoa, both in Diamond Square and in the city, so that's helping ‸ businesses. Money was set aside for recruitment and retention. As you all know, we did the high school program for police and fire, and then there's also money set aside for one-time bonuses for hiring
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and then improvements with on street parking and in parking lots. uh They have the enhanced law enforcement where the officers are in the village um doing additional policing. And then in Diamond Square, the Michael C. Blake subdivision is in process right now. So we are making some progress with um the priorities that council have requested previously. um
so
where we're at with the budget right now, um we look at our new revenue sources, and then we look at what our expenditure increases are. And as the consultants just told you, there's increases ‸ everywhere. There's rising costs everywhere. um So we need to try and keep up with that. um Right now, we're looking at a half a
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increase which is tied directly to public safety salaries we did experience a nice healthy
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increase in just property values. uh
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which was really good for us so that some of those apartment complexes that have come online. um As the consultants just discussed with all of you,
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utility rates. So then we look at our expenditures, and we have multiple increases in just across the board expenditures. We were able to keep uh
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uh One thing we found with our property and liability insurance uh was
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that number is
split with the water fund. I just want to point out.
um uh
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contributions,
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1.6 hey
rebecca those three bullet points combined those are how much is that Just off the top of your head.
Nine and a half,
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for those three bullet points.
Yeah. ‸ at least. uh ‸ And then uh we're looking at any
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So uh the proposal for personnel right
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uh police, yeah, and adjust their pay ranges. So, um Tammy will discuss this a little bit more, but in order to try and, um attract police officers to the city of Coco, we're proposing to increase the pay ranges. So an officer coming
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increase in their rate of pay per hour.
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increase that the city manager is requesting is to pay for the cost of that is very expensive um
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uh our Social Security goes up and then
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plus any ad pays plus any overtime. So um it's not just their salaries that's increasing. um And then again, as I stated,
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increase uh for all other employees that are not public safety and the budget right now does not include any new positions in any departments. So no police officers, no firefighters, no utilities, no general employees. So just maintaining ‸ status quo. um So um as we go through the budget adoption every year, we're trying to match our recurring revenue with our recurring expenses. Most of those things, I think just about all ‸ I just showed you on the previous slide, are recurring costs. So you need to pay for um recurring costs with recurring revenue. And traditionally, the city has funded the amount of capital that they can afford through the use of fund balance because that's a one-time cost. So the city does have a fund balance reserve policy that was adopted by city council. The
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for
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if we had something catastrophic like um uh that hurricane or something. And then um with the reserves, if you're going to use the reserves, you have to have a plan on how you're going to replace those reserves. So if you had a loss in revenue, you had to go to that reserves, you had to figure out how you're going to get revenue enough revenue to put that money back into your savings account um
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So you should not use recurring costs to pay for your, uh to use your fund balance to pay for your recurring costs. um
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which we have done in the past, um
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that we
use
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fund balance for was economic incentives for Walmart and then we set aside uh some affordable housing money for the Michael C. Blake subdivision using fund balance.
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So uh in the current year's budget so far um we're trying to fund more um and as the city manager previously stated uh we can't really keep up with what our capital needs are every single year. We don't have the money to pay for that. um So for example in the police department he'll go into it and um when he gets to his section but he needs to replace a lot of vehicles and we cannot replace all those vehicles all at once. We can't afford it. We found out this year that we have radios that need to be replaced. We can't afford to replace all of those all at once so this year we have budgeted um to use recurring revenue of 1.5 million dollars to pay for some of our capital and then the rest of it is about 1.3 million dollars that we're requesting to take out
a
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fund balance. And that's going to help those needs make a better dent in the police vehicle replacements and then um with the radios and then they have consoles for dispatch and some other costs from the county that came up in this past year that we were not planning on.
‸ that doesn't Rebecca
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fund balance number. Okay.
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listing of.
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um
The capital needs that are being funded, uh with the current budget. um ‸ so you can see we have computer equipment that needs to be replaced. That's something that you can't put off for very long.
um
We have vehicles, uh several vehicles that need to be replaced. Public works is, um usually. Public safety comes first. So public works gets pushed aside with their vehicle replacement, but we're at the point where we can't put it off any longer. the fire department
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imaging cameras. The civic Center needs a new roof. We've been talking about that for several years. that Things need to be done with the civic center so in total there's about 2.4 million dollars and then um we usually have about 300 000 set aside in a signed fund balance to to minimally keep up with our street paving.
And so
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and I talked about street paving uh this morning and so we we literally rely on
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fund balance savings from year to year to do the street paving uh program and we only do that to to uh at a
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uh that's part of the story with regards to fund balance and that's sort of the context of uh of the fund balance numbers there. We're literally relying on savings from one fiscal year to the next just to do the street paving uh
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safety concern. um Vehicles don't really stay within the parking lot. They kind of park anywhere. Okay. And so we're afraid that at some point there's
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Yeah, it does say public works fence but it's a fence.
Public works department has a budget for it. ‸ Does
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city manager
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is not touching on anything. um Especially now with cost of construction going up.
um
uh
what
what What could we do to increase it? um Does that mean chopping off another project to increase it? Because we know that
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is not.
Yeah, And it's,
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all, this is all this
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a proposal. ‸ so, um
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and fire ‸ pay. And so, no new revenue um that you have. So it's a shell game at this point. You know, we we're taking from other places to uh to increase that or to fund that. You know, again, as you and I talked this morning, you know,
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street, annual street paving program needs to come from recurring source also, or a mixture of both. You know, just, just again, hadn't gotten to that, uh
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development of a budget there. But at this point, you know, ‸ the board,
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to actually have that come from, or at least the balance of fund balances or savings and recurring revenues, then we we got to go back and and sharpen the pencil on other items that uh would have
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question is uh while we were on that conversation is it feasible for staff to uh do an analysis on all the streets that really need pavement because i know there's a lot especially in my district in dire need if we can get a total amount of number and maybe the next session um we can go to our state rep and ask for possibly help with funding because i saw some other cities uh did that with their state rep this last session
Yeah. We, we actually have the pavement management system. And i I knew you were going to say that, which is at some point in time, they actually did the sort of infield assessment of the roads And it's sort of just been uh updated year after year. So that's, that's the best we have other than paying a consultant to put boots on the road there.
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a councilman, uh goings issue is
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at a particular point in time that hasn't been updated with for however many years. there But we can actually get you that what we know in the priority world. i'm
also going to say that the agenda item we have tomorrow night, uh with that additional money we're spending on paving, I mean,
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of those are district
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so ‸ That's
great.
You should have seen that look man. What in your district, on the north side of the
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that are in district
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that I'm
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left behind for years. And so, or a lot of patching has been done, which I understand sometimes when you're doing sewer crossing and things of that nature, you know, you have to do that. But there are some streets that haven't been touched in
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we get a point of clarification? What's the difference between street paving and remilling? Am I saying that right? Where you just add another layer on top of it? ‸ Mrs. Morgan? Yes. Or the city manager
So the way a road uh is is replaced is it's first milled and then it's uh resurfaced. So it's called milled and paved.
But do you, when you're, when you're repaving, do you mill it each and every time?
Yes. Okay. Sometimes we do micro surfacing. I know we did the, pull that
closer we,
perform those, uh in some district
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roadways, uh back in 2016. But, uh our, our process now is to remill and pave all roads on the paving list.
So,
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And then, and so talk to them about the differences between, uh a complete reconstruction versus milling and, uh ‸ repaving.
Okay. So, um there's also full depth reclamation, which
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Now, what they do there, we have to do core samples and they come up with a mixed design. That's going to come up with a kind of a full rehabilitation ‸ of the road.
And
so they come in and they do the same kind of procedure where they grind it, but they take about eight to
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inches of the roadway. And they put together the design mix along with what they've, um captured and, um re, ‸ resurface it and then um actually put down the sub subgrade and then resurface it.
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‸ I wanted to go back for just a minute here.
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pay increases and the increase of the millage rate to a half a mill. One thing to keep in mind, like we've been talking about, is paying for recurring costs with recurring revenue. And um
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um which was a growth
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the next. But a lot of times that fund balance growth occurs because we don't spend all of our budget. So as you all are aware in fiscal year 21
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Well, that money isn't spent yet. It was budgeted to be spent, but it hasn't been spent yet. So if
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reserves that your your uh fund balance policy says that you need to have.
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which is about three months of operating.
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today that was planned on being spent
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of today. And again, you need to keep in mind that fund balance ‸ is a picture at a point in time. It's like looking at your bank account today. Hey, look, I just got paid and I got lots of money in my bank account, but you haven't paid your bills yet. And so once you pay your bills, you don't have so much money as what it looks like on paper today. And so when I do um a presentation of fund balance at the end of the fiscal year for the financial statements,
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of what I can put in there as how I'm presenting my fund balance. It was
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54 back in 2016 or something. And then there's the other things that I know, like money that we've committed in the next fiscal year
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money is gone. But you look at the picture with our financial statements at the end of the fiscal year last year, you
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trying to explain that that's why we need to keep trying to come up with this recurring revenue to pay for these
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to fund capital in the future. And you're banking on not spending everything. We have money, obviously this year savings and police and fire from their vacancies, and that helps replenish that fund balance back up to be able to assign money and do other projects for other one-time costs.
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when you said
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annually, the way we have. One method of addressing that is to build, to enhance our city's um coffers through taxes or
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communities, through downtown development, buildings going up. That's how we compensate and carry and maintain that reoccurring expense because we're going to get these dollars from this business that comes because they have to pay their taxes. Is
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even in the Bible tells you, if you don't have a vision, you're going to what? Perish. And by God, the people believe in us, and we're not going
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uh development to me. I want to see our frameworks. I want to see my Amazons. I want to see the expansion of
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reoccurring revenue that we will use for our general fund to address our concerns. that Those bills that constantly reoccur. So we're going to have to be creative and through your city manager's expertise and the staff, I
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say on that note, what types, because
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each. For that, you have a lot of fire expenses, there's infrastructure. What sort of development? Well,
yeah, big big big apartment complexes are good. uh ‸ big commercial buildings and commercial operations are good. One of the things that uh ‸ general public doesn't realize is that you get, you know, there's revenue from the real estate and then there's revenue from the tangible property, the the the machinery and equipment. And so manufacturing is good. um you know, any, any, any, uh complex business where there's a, there's a, a, a real estate and a, and a, uh operating machinery sort of component there. Big, big, ‸ subdivisions are, are, are great. um uh
you
know, and so, uh something like an Amazon is good. Walmart distribution center. uh we're working on two, uh subdivisions that would be the biggest in the city of, a of Cocoa
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um and and so, uh
you
know, obviously, uh hotels and, and, uh all those sort of things there. And so, you know, the, the bigger, the better, obviously the, the property appraiser is responsible for the, what she values them at on the, uh on the tax base. But, you know, never hurts to have a 200 000 square foot distribution center. Never hurts to have manufacturing. um and so, all of those things in which we, we have a, uh you know, uh complement of all
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is a pretty big project there. And so, that, you know that gives you some sort of sense of sort of scope ‸ And just
one question. So, Barrera Shores or, and i think new construction probably brings in more. uh
yeah
Yeah.
So what about do you take into account the infrastructure that has to go into that? Just as I've lived in a city where the infrastructure was in one direction, the population grew in another direction
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that? Do we look at that?
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if something doesn't happen there in terms of minimum level of services, um whether projects can continue if you um if you don't do something with that road because uh
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2011.
yeah
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plan whether it's in your code, um you know we don't allow developers to just come in and build
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all types of ‸ infrastructure, traffic, police, fire, utilities. Public works.
What would be the average
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um we look at the average cost of a new development of that magnitude. ‸ Would a safe assessment be 300, 400
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Yeah, ‸ I, I,
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say, ‸ you know, it doesn't hurt to have a million dollar
home.
Yeah, ‸ it helps. Doesn't hurt to have that. And, and, and generally, you know, obviously we have no control over what the property appraiser values it at. But, I mean, it's a real simple calculation, whatever the taxable value is divided by a thousand times your, your millage rate, you know. And so, and so, uh we've been told that,
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forget the the term that they use there, it's not an entry level uh home or subdivision. And so so
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with regards to to that um subdivision. I think that's 400 and something home sites, if I remember correctly.
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but yeah. Yeah, yeah so so yeah, 385 and then uh the one across the highway is 300 and something, you know. and so That's
the smart line. and so Yeah, so they go so if you just multiply
those numbers,
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if they go on taxable
value, if they go on each, and see if they average out 300 or somewhere near there, then you know, then you can you can do the math there. so we need growth council.
and what's the eta on those
um
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four years. I got my fingers and my toes crossed.
Well, that's part of that vision for the city itself. ‸ for the the new leaders coming in. That's the projection. because It's coming.
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curve. I'd rather be proactive than reactive.
All right,
Deputy
Mayor, sir, thank you. all right Thank you. I agree that
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But I was i'm pretty sure it's been on staff's radar, but other ways that we can grow revenue as well. um I heard we talked about um our external customers for our water utility. They pay with a
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I don't know if there's like a statute on how much we can increase that. And I only bring that up because I know we we keep talking about the need for annexation. because There's a lot of these neighborhoods that in one way or another, we already provide services to them for basically free. uh So I'm just looking at ways that we can encourage uh uh annexation. um Another thing we talked about a while ago our property values we got a number of homes that are valued at 50 000 under 100 000.
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to bring up those property values. um And another thing, our commercial. I see every day I'm going up to Titusville, they're getting a new restaurant and they don't have the workforce. These restaurants are brick. They have all these brand new restaurants that they can't staff. And
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a summit to talk to some of these uh businesses that are coming into Melbourne, Titusville, and let them know we got plenty of space here for them to come in. We have a workforce. So I i know we need new construction, but I think we can be creative as well to grow our revenue. um
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together and talk about. That's all. Can
I say something?
um
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you're addressing to us now. So that's the rule of thumb. Because if the people live there, they're going to spend their buy local, keep a local. That's where that adage comes from. And if you have quality schools, which we're moving toward, um and a way of lifestyle,
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um As we're addressing that right now, through our firefighters, our police officers, I mean,
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That's how we get the companies that you're addressing. And the most valuable uh product we have is called liquid gold, that water. Yeah.
And
that's how we need to monopolize. it But people will come if you build,
they'll come. So it's and in the um and the deputy mayor is, you know, I mean, it's all I say new construction, but redevelopment is new construction, you know, and so and so a new new restaurant comes on board and they they uh renovate the old building. And so that's that's also part of new construction, you know, I mean, Titusville, who thought, I don't say that out loud, but I mean, Titusville is doing great. And,
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you know, we never thought we'd see the day when, you know, I mean, it's a chase. Titusville is is going gangbusters. uh Palm Bay is going gangbusters, you know, and and
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just knocks it out of the park, you know, and so and so, you know, we we have a a lot of, you know, I've talked to you guys about Amazon. uh I think we have probably five, six, seven uh opportunities on
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you know, two new subdivisions that are that are of the caliber that those would be uh would be significant for us. You know, Walmart distribution has a phase two in the development agreement, you know, now when and if that happens, you know, we don't we don't know. um
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um And so you know we have a lot of a lot of good opportunities there. We still have, uh you know keep your fingers crossed, Bank of America. um We still have the five acres. uh We still have the hotel site. And so,
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potential that hopefully we will realize within the next, again, let me just say three to four years.
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uh fairly new construction and, and also redevelopment. So.
um
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to something that
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that don't
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now? Have we considered, how we consider raising that
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It's regulated but that revenue would also stay in the utility ‸ That's not general fund revenue.
‸ It's not general. Projects. it's
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revenues to address those
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What,
what revenue the utility fund generates needs to pay for the capital and operating needs of the utility fund and it has to stay in the utility fund. Right. Yeah.
We,
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on his assets.
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on Jack's assets.
And,
uh and then uh administrative charges and then cost allocation. uh Right. What else you got? oh Yeah. Yeah. Okay. You got payment in lieu of, yeah. And so, and so 46 million something in that neighborhood
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you come over and you realize just how dependent our general fund services are on, on water already. You know.
So are we maxed out
on
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that amount?
Jack, you want to take that on the on the uh surcharge to uh outside customers? What
are your questions? are we Are we maxed out on that amount that we could? We are. Yeah, that
is, it was it was a report it was a legislative
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20 or 25 years
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25. Yeah,
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‸ And
remember, just past year, uh
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that
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we can transfer over from from utilities into the general fund. Yeah, so they're looking at it. Not only that, solid ways electricity, whatever municipalities, whatever type of uh services they provide. Like
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but you guys said a very important thing. nail on the head Here it is. Both of you, all three of
you
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all four ‸ We got a lot of our homes right now. ‸ do not meet that threshold, what he was talking about, tax, homestead exemption. Don't only meet the minimum. um I recall some of, um give me a second, yes, or after her. um there was some um i'm trying to remember the exact number and
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again, development. But the question is, how do we navigate our way through that to address that? Do we flatten them, you know, and construct? you know, that's several years out, you know what I'm saying? So ‸ something that you're right, we need to place on the radar to to to to address that concern. Because once we get some of those homes back, or at least um that they will qualify so we can tax them and get some revenue from them, then that will be an additional substantial impact in our general funds.
Okay,
councilwoman calls,
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do know that we we
do
have, currently have some programs that we're we're trying, which is the paint program, the landscape, and all those different small things, but it could help with raising up certain property values in certain areas. So, I think we're trying, but I know it's more than you probably could do.
Yeah, and that, actually yeah, and that and that, again, you know, I mean, one of the good things living in Florida is ‸ save our homes, you know. And so, and so you know, that's, the aesthetics of the community will be improved,
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of their property, which again is
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you know, i mean
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that that that really is, you know, we gotta gotta maximize on that.
So
just to go back to something you said about annexation, um annexation is tough on the immediate time frame because how do you convince people to join the city when they're going to have to pay more? Services. but we
know Services.
But we know it's really significant for us, in particular, it's like in terms of perception of our city. um The police department, we know that, you know, most of crime is taking place in the unincorporated areas, yet we get,
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get over that hump without doing some annexation. We have a couple areas that would actually bring in more revenues than they would cost in District
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um And that would, you know, if we had, ‸ I feel like we really need to have, this this requires a long-term vision, which is politicians, we don't usually have long-term visions because we know we're here's our time. They
actually receive services from yeah
Right.
So, ‸ but thinking about or having some long-term plan. where we can annex. um I think, you know, you have to go after those areas actually bring in revenues and then go forward the areas that we can redevelop.
services is the key, sir. My police department responds quicker than say our sheriff department. Let's be honest. And that's one of the caveats that we offer to those that do want to come into the city as well as
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and our local agreement. And, and, and my thing is the key pivotal thing is just like everyone else, safety and services. What can I get biggest bang for my book pertaining to safety first and then services? Is that ‸ One
other thing,
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they classified
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you know, when you look at the whole county, we probably have as much or more than anybody else senate twice And I feel like we should get some credit for that.
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so we want to talk about that today also
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you don't have to uh
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in uh ‸ we have to we have to look at that.
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That's not
helping us,
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You got it. You have
it.
you
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that it, sir?
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city manager sir
So again, around noon time, so it's a working lunch where Mr. Beach will take you through his uh his budget. uh so so So the food is here. I think we're recessing to um where are we going
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It's
the
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second floor.
Second floor,
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on the third floor. floor and
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um Rebecca, did you finish your presentation?
um The one thing that I just wanted to add and point out again was that, you know council has budgeted uh 14.7 million dollars to use assigned fund balance and once those projects get done, your fund balance is going to go down and you're not going to have um money to assign like that in the future to do some of these things like that you're trying to do right now, like the parks improvements and getting new fire trucks and, excuse me, some of the other things that we budgeted for and assigned fund balance. And so
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future to assign fund balance to. And that assigned fund balance is paying for those one-time projects
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at the beginning of 22 using
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fund balance.
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you have an item on tomorrow night's agenda right addressing that, you know, and and Rebecca, uh I think in her presentation, departmental presentation, maybe maybe it's it's this presentation, but the fund balance was, you you've had vacancies, you've had uh some assistance, some federal ‸ funding assistance through ARPA, you know, and so, and so that, that, you know,
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And so you just can't look at the numbers and say that it's going to be there forever. And again, I, I mean, I started in 1990 in the Broward County budget office and, um you know,
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So, Mr. Mayor, if
you
want to, if you want
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a
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favor, say, aye aye
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