Mid Year Budget Review Fiscal Year 2019 2020

Mid Year Budget Review Fiscal Year 2019 -2020

Balance - Is the budget sustainable? • By law, must balance. Revenue = Expenditure $11, 400, 796 • Applying conservative approach, use known factors • Applying strategic approach, focus on priorities • Conservative revenue expectation (recurring vs. temporary or once) • Are we fiscally sound (revenue sources, base)? • Expenditures for recurring needs (every year) • Expenditures for planned projects

Other Budget Goals Program Funding for Infrastructure & Capital Improvements ü Daily Operations of the Village ü Streets and stormwater ü Park Repairs and Improvements ü Other Capital Improvements

MUNI TAX TOTAL ANALYSIS MUNI. TAX TOTALS BY USE TYPE Personal Property 9100 Utility Gas Electric Telep 0100 Single Family 0500 Cooperative 4100 Light Equip. Mfg Other $M $500 M $1, 000 M $1, 500 M $2, 000 M Personal Property makes up 86. 5% of the overall MUNI TAX TOTAL at $1, 748 M. RANK OWNER MUNI. TAX TOTAL % of TOTAL $1, 767, 427, 850 87. 4% 1 FLORIDA POWER & LIGHT COMPANY 2 FLORIDA GAS TRANSMISSION CO $21, 343, 361 1. 1% 3 INDIANTOWN COGENERATION LP $19, 959, 030 1. 0% 4 INDIANTOWN COGENERATION, L P $18, 533, 313 0. 9% 5 INDIANWOOD CO-OP INC $16, 825, 450 0. 8% 6 FLORIDA SOUTHEAST CONNECTION $14, 499, 739 0. 7% 7 BAY STATE MILLING COMPANY $13, 523, 384 0. 7% 8 NAG PROPERTIES LLC $7, 813, 070 0. 4% 9 CAL-MAINE FOODS INC $5, 359, 746 0. 3% 10 ITS TELECOMMUNICATIONS SYSTEMS INC $5, 337, 464 0. 3% 11 INDIANTOWN COMPANY INC $4, 976, 019 0. 2% 12 FLORIDIAN NATURAL GAS STORAGE CO. LLC $4, 544, 250 0. 2% 13 INDIANTOWN INTERNATIONAL INC $2, 498, 690 0. 1% 14 JUMBOMARKETS PROPERTIES INC $2, 361, 980 0. 1% 15 TENTLOGIX INC $2, 271, 490 0. 1% 16 SKYFARM STRATEGIC CAPITAL LLC $2, 154, 578 0. 1% 17 CSX TRANSPORTATION INC $1, 931, 005 0. 1% 18 INDIANTOWN MARINE SERVICES LLC $1, 737, 714 0. 1% 19 DISASTER MANAGEMENT GROUP LLC $1, 698, 964 0. 1% 20 I TOWN LLC - OTHER OVERALL TOTAL $1, 617, 000 0. 1% $105, 419, 645 5. 2% $2, 021, 833, 742 100. 0%

Challenges Declining Revenue (Possible Recession, COVID-19, etc) Staffing Recruitment & Retention • Benefits • Compensation • Training Intergovernmental Coordination

Accomplishments ü Completed Comprehensive Plan ü Park Improvements: Booker Park Fire Station, Big Mound, and Post Park ü Completed Fire Rescue/EMS study: several options – 1. Private solution 2. Public Solution 3. Hybrid-Public Safety ü Micro surfacing and Street Repair Projects ü Started negotiations to acquire private water and sewer plant ü Hired additional staff necessary to operate the Village ü Retain a Public Relations firm to help with branding and messaging

Possible Fiscal Impact to the Village Memo sent out by Susan Goodling-Liburd, Interim Financial Director on March 24 th

Tentative Budget Calendar

General Fund Revenues Budgeted

General Fund Expenditures Budgeted

FY 2019 -2020 Mid-year Recap • Major Revenue Outlook • Solid Performance • Expenditure Summary • In line with budget projections

BUDGET vs ACTUAL New Line Item Not Budgeted for in Original Budget *TPPG Tax Incentive Grant Program was budgeted under Contingencies **Possible CORVID 19 adverse Impact expected

Expenditur e Detail New Line Item Not Budgeted for in Original Budget *TPPG Tax Incentive Grant Program was budgeted under Contingencies **Possible CORVID-19 adverse Impact expected

2020 Mid-Year Financial Update New Line Item Not Budgeted for in Original Budget *TPPG Tax Incentive Grant Program was budgeted under Contingencies **Possible CORVID-19 adverse Impact expected

Expenses & Revenues Although YTD Revenue & Expenses are both tracking below budget, there is a net surplus of ~$2. 3 M YTD. REVENUE EXPENSES $534 K Intergovernmental Permit, Fees & Licenses Contractual Services $1, 152 K Other Uses $246 K $1, 011 K General Government Taxes $721 K $205 K Other Operations Miscellaneous $25 K Fines & Forfeitures Charges for Services $-200 K Capital Outlay $3 K $158 K Financial & Admin $-1 K $0 K $170 K Grants & Aids $200 K $400 K $600 K Total Revenue tracking under budget by ~$1 M, driven by "intergovernmental", "permit, fees, & licenses", and "taxes" revenue falling below budget. $48 K $200 K $400 K $600 K $800 K $1, 000 K $1, 200 K $1, 400 K Total Expenses tracking under budget by ~$3. 3 M, driven by "contractual services", "other uses", and "general government" expenses falling below budget

Proposed Budget Amendment Title Descriptions Fund Org. Unit Amount Recommended General Fund 001 Current Budget $4, 966, 167 Contingency Reduce due to unanticipated expenses -TPPG Tax Incentives 001 $1, 011, 153 ($502, 000) $509, 153 To correctly budget each line items for FY 20 Advertising To adequately budget for the operation of FY 20 001 $7, 000 $15, 000 $22, 000 To correctly budget each line items for FY 20 Public Safety To adequately budget for the operation of FY 20 001 $10, 800 $60, 000 $70, 800 HR-Background Screening/Recruitment To adequately budget for the operation of FY 20 001 $2, 500 $20, 000 $22, 500 Printing & Binding Services To adequately budget for the operation of FY 20 001 $16, 000 $25, 000 $17, 000 Temporary Staffing To adequately budget for the operation of FY 20 001 $25, 000 $40, 000 $25, 000 TPPG Tax Incentive Grant To adequately budget for the operation of FY 20 001 - $342, 000 001 $4, 966, 167 Amended Budget Notes This category was under budget, increase in expenditure to adequately run the operation of the Village. This category was anticipated but not budgeted.

Recommended Adjustments Amend the FY 20192020 Operating Budget to reduce revenue projections before September 30, 2020 Set aside funding for Fire Rescue/EMS and pursue option 2 Add two customer service representatives to FY 19 -20 operating budget for potential water and sewer plant utility acquisition Eliminate Fire Chief position currently budgeted in FY 19 -20

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