Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Agenda 08-23-11
· ~<tY~Te~ eRA ~ East Side-West Side-Seaside Renaissance Date: August 17, 2011 To: CRA Board Members From: Vivian Brooks, Executive Director tJj; Re: CRA FY 2011-2012 Budget Meeting Attached is the Boynton Beach CRA's preliminary FY 2011-2012 budget tor your review prior to the meeting. Date: Tuesday, August 23,2011 Location: Intracoastal Park Clubhouse Time: 6 pm until conclusion of business Attachment Cc: Jim Cherot, CRA Board Attorney Lori LaVerriere, Interim City Manager Barry Atwood, City Finance Director Janet Prainito, City Clerk 915 South Federal Highway Boynton Beach, Florida 33435 Ph: 561-737-3256 Fax: 561-737-3258 ,Ii .. East Side-West Side-Seas.lde Renaissance eRA BUDGET MEETING AGENDA Tuesday, August 23, 2011 6:00 p.m. until the conclusion of business at Intracoastal Park Clubhouse 2240 North Federal Highway Boynton Beach, FL 33435 1. Welcome by Board Chair Rodriguez 2. Invocation 3. Budget Overview 4. Review of General Fund, Project Fund, Debt Service 5. Adjourn J!~~~Y~T2~ eRA iIii East Side - West Side - Seaside Renaissance Budget Meeting - FY 2011-2012 Tuesday, August23,2011 Table of Contents Paaes Budget Overview A-G General Fund 1 - 14 Project Fund 15-19 Debt Service Fund 20 - 22 As of: 8/15/2011 BOYNTON BeACH eRA Revenues - FY 2011-2012 Estimated Tax Increment Revenue Other Sources of Revenue Marina Fund Balance/Rollover Appropriation General Fund - Fund Balance Allocation Total Estimated Revenue Sources Assumptions: 1. Assessed valuations based on Property Appraiser data delivered 6/30/2011. 2. City and County millage rates remain same 3. Above TIF revenue reduced by 1 % true-up 4. Increase in Marina Rents by $2 ft. 5. Fund Balance/Rollover Components: a. $200,000 Rollover from FY 2009/2010 b. $75,000 unused Contingency in General Fund c. $25,000 unused departmental in General Fund d. $380,000 General Fund - fund balance allocation -A- $ 5,510,000 $ $ $ $ 1 ,127,132 300,000 380,000 7,317,132 BOYNTON BEACH eRA I General Fund - Operating Expe.nses - FY 2011.2012 ... FY 2010-2011 Incr/(Decr) YS Original Amended Estimated Proposed Original Budget Budget Expenditures FY 2011-2012 Amount % Change Salaries $ 664,004 $ 556,707 $ 558,207 $ 578,563 $ (85,441) -13% Benefits $ 70,406 $ 70,404 $ 62,332 $ 121,694 $ 51,288 73% (a) FICA Taxes $ 50,796 $ 50,797 $ 43,210 $ 44,260 $ (6,536) -13% Buildings & Grounds $ 313,980 $ 290,980 $ 261,980 $ 303,500 $ (10,480) -3% Professional Services $ 160,000 $ 160,000 $ 154,000 $ 145,000 $ (15,000) -9% Insurances $ 108,650 $ 108,650 $ 108,150 $ 109,150 $ 500 0% Office Rental $ 79,100 $ 50,185 $ 50,185 $ 78,204 $ (896 -1% Legal $ 75,000 $ 75,000 $ 70,000 $ 75,000 $ - 0% ContinQency $ 75,000 $ 75,000 $ - $ 25,000 $ (50,000) -67% IT Services $ 55,260 $ 55,260 $ 47,010 $ 49,350 $ (5,910) -11% Contractual Exp. (Minutes/Event $ (14,000) Labor/Electronic AQenda) $ 32,675 $ 32,675 $ 14,850 $ 18,675 -43% Travel & Workshops (meetings, conferences, mileage) $ 24,650 $ 24,650 $ 19,220 $ 24,750 $ 100 0% City HR ILA $ 19,500 $ 19,500 $ 15,000 $ 15,000 $ (4,500) -23% PhotoQraphy, Videos, Promotional $ 15,000 $ 15,000 $ 15,000 $ 15,000 $ - 0% Office Supplies $ 15,000 $ 15,000 $ 9,500 $ 9,500 $ (5,500) -37% Career Development $ 11,500 $ 11,500 $ 8,000 $ 11,000 $ (500) -4% Memberships $ 7,005 $ 7,005 $ 7,005 $ 7,130 $ 125 2% (b) Donations & Community Support $ 7,000 $ 7,000 $ 5,000 $ - $ (7,000) -1 00% Business Development Collateral $ 7,000 $ 7,000 $ 7,000 $ 5,000 $ (2,000) -29% Office Printing Costs $ 6,800 $ 6,800 $ 6,300 $ 6,800 $ - 0% Advertising & Public Notices $ 6,700 $ 6,700 $ 5,000 $ 6,700 $ - 0% PostaQe $ 6,000 $ 6,000 $ 5,000 $ 5,000 $ (1,000) -17% Cellular Phones $ 5,280 $ 5,280 $ 5,620 $ 6,840 $ 1,560 30% Workshops $ 4,820 $ 4,820 $ 3,500 $ 3,500 $ (1,320) -27% Delivery Services $ 4,300 $ 4,300 $ 2,300 $ 2,300 $ (2,000) -47% Bank Fees $ 2,750 $ 2,750 $ 4,000 $ 4,000 $ 1,250 45% Subsciptions $ 2,300 $ 2,300 $ 2,295 $ 2,460 $ 160 7% (c) Equipment $ 2,250 $ 2,250 $ 1,250 $ 2,250 $ - 0% Books & Publications $ 1,600 $ 1,600 $ 800 $ 1,300 $ (300) -19% ToW $ 1,SM,3." $1,'1'$,113 $ 1,491,714 $ 1,676,926 Increase/(Decrease) ys. Original Budget $(157.4fO)I -9% Increase/(Decrease) ys. Amended Budget $ 1,813 I 0% (a) Add back retirement for FY 2011-2012, eliminate benefits for Assistant Director position. (b) Add Urban Land Institute membership in Executive department (c) Increases in news subscriptions - B- BOYNTON BEACH eRA fundin Availabf. for Proects - FY 2011-2012 I Revenues - Estimated $ 7,317,1321 Less: Debt Service $ 2,513,513 Operating Expenses $ 1,676,926 Marina Expenses $ 1,110,500 DIF A - Promenade $ 385,000 DIF A - Cornerstone $ 40,000 Wal-Mart Brownfield Payment $ 22,500 Palm Beach County Regions Grant Refund $ 100,000 Sub-Total $ 5,848,439 INew Project Revenue $ 1,468,6931 - c- BOYNTON BEACH CRA Project Fund Revenue & Potential Pro.ects 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Total for New Projects $ Special Events 18% Economic Development 16% $ 1,468,693 Estimated Cost 257,990 65,000 50,000 50,000 90,000 120,000 50,000 118,534 500,000 20,000 20,000 27,169 100,000 1,46&,693 Capital Projects 66% ~u ---, -)me~tl . Special Events . Economic Development o Capital Projects Board Member Proiect Suggestions 1 Bus Benches/Shelters for Federal Highway 2 Business Relocation Program 3 Savage Creatures of Ancient Seas Museum 4 Relocation Incentive Program - D- BOYNTON BEACH eRA FY 2011.2812 PROPOSED ..ECIAL. EVENTS 2011/2012 PROPOSED EVENTS DATE I 201112012 PROP051:U I .. BUO~T HOLIDAY EXTRAVAGANZA PARADE TREE & DECORATIONS CONCERT SATURDAY Holiday Event Total $20.080 $20,000 $60,000 $100,000 December 3, 2011 HOLIDAY BOAT PARADE Boynton Harbor Marina FRIDAY December.9, 2011 ,000 MAYOR'S CHALLENGE FAMILY FUN RUNIWALK DOWNTOWN AREA March 10, or 24,2012 $1,000 MOVIES ON THE AVE Ocean Avenue Amphitheatre eFriday, January 6, 2012, eFebruary 3,2012, eMarch 2,2012, eApril6, 2012, eMav4, 2012 $7,500 OCEAN AVENUE CONCERT SERIES Ocean Avenue Amphitheatre eFriday, January 20,2012, eFebruary 17, 2012, eMarch 16,2012, eApril20, 2012,eMay 18,2012 SUNDAY FAMILY FUNDAY BOYNTON HARBOR MARINA eSunday, October 9, 2011, eNovember, 13,2011, eJanuary 8,2012, eFebruary 12, 2012 eMarch 11, 2012, eApril8, 2012, eMay 13, 2012 eJune 10, 2012, eJuly 8, 2012, eAugust 12, 2012 eSeptember. 9, 2012 $13,200 4TH OF JULY SALUTE TO INDEPENDENCE Intracoastal Park Wednesday, July 4,2012 $75,290 OCEAN AVENUE PIRATE EVENT Saturday & Sunday October 29 & 30, 2012 DOWNTOWN OPEN MARKET OCEAN AVENUE AMPHITHEATRE eSunday, January 22,2012, eFebruary 26,2012 eMarch 25,2012, _April 22, 2011, -May 27,2012 TOTAL COST OF EVENTS $257,990 - E- BOYNTON BEACH eRA TIF FY 2011.2012 As of: 8/5/2011 TIP CAlouu,n_ ASSESSED VALUATION JUNE 30, 2011 0884 Old 83/COMM 83) $ 233,883,319 0890 Old 81/COMM 89 $ 24,003,290 0891 Old 82/RESD 89 $ 531,571,200 0805 Base Year 2004 $ 3,737,581 0806 Base Year 2005 $ 22,154,853 0807 Base Year 2006 $ 1,615,539 0809 Base Year 2008 $ 1,928,310 Total $ 818,894,092 - F - BASE YEAR VALUE 13,630,912 59,767,752 218,507,505 1,165,569 4,636,774 7,583,337 4,530,000 $ 309,821,849 ASSESSED VALUATION LESS BASE YEAR $ 220,252,407 $ (35,764,462 $ 313,063,695 $ 2,572,012 $ 17,518,079 $ (5,967,798) $ (2,601,690) $ 509,072,243 BOYNTON BEACH CRA - GENERAL FUND FUND BALANCE ANALYSIS Fund Balance 9/30/10 - Undesignated $ 3,389,797 Less: SE Federal Highway Corridor Water Main Stormwater and Roadway Improvement Program (4th St.) - FY 2010-2011 $ 436,680 Rollover FY09-10 $ 200,000 Rollover FY 10-11 $ 100,000 Fund Balance Allocation for FY 2011-2012 BudQet $ 380,000 Liabilities $ 88,988 Encumbrances as of 9-30-10 $ 166,471 Prepaid Rent Deposit $ 16,534 Est. Working Capital Needed for Operations Oct-Dec (Note: TIF received in Dec. of each year $ 2,000,000 Sub- Total $ 3,388,673 I Estimated Fund Balance as of 9/30/11 $ 1,124 I - G- Boynton Beach eRA General Fund - Bu ' t Summary ~ I REVENUES I Tax Increment Revenue (T.I.F.) $ Marina Rents & Fuel Sales Rollover - FY 2008-2009 Rollover - FY 2010-2011 General Fund Balance Allocation Interest Income Total Revenues $ &.4a2.a45 $ Estimated Revenues $ 5,505,545 1,096,480 $ $ $ $ $ 9,500 $ 6~__ $ 6.641.$~& $7;31:Ma2 $ 884,887 0% 22% 100% 100% 100% 0% 14% I EXPENSES Department Name CRA Board Staff Overhead Executive Department $ 226,952 98,827 80,078 3% 211,974 21,620 Finance Department $ 168,976 172,884 173,809 23% 192,441 14,735 Planning Department $ 232,834 244,612 241,412 -51% 103,318 11,640 Marketing & Business Devl. $ 151,999 154,621 147,106 7% 120,446 42,100 Special Events Department $ 121,824 124,344 117,944 12% 116,339 20,100 Sub-Total $ 902,585 795,288 760,349 -5% 744,517 110,195 of G."eral Fund 10% Other GF Expenses Insurances $ 108,650 108,650 1 08,150 109,150 $ 500 0% 109,150 Professional Services $ 254,500 254,500 239,000 235,000 $ (19,500) -8% 235,000 Buildings & Grounds $ 393,080 341,165 312,165 381,704 $ (11,376) -3% 381,704 Marina Operations $ 926,700 926,700 1,096,480 1,110,500 $ 183,800 20% 1,110,500 Information Technology $ 55,260 55,260 47,010 49,350 $ (5,910) -11% 49,350 Contingency $ 75,000 75,000 25,000 $ (50,000) -67% 25,000 Sub-Total $ 1,813,190 1,761,275 1,802,805 1,910,704 97,514 5% 1,910,704 Total GF Operating $ a~1~1.. $ ~i6l1d~ $ Uft484 Jim'..f a6~1 1% $ 744,517 $ 2,042.909 ... Note: Total GF Op. excl. $ 1,834,325 $ 1,675,113 $ 1,491,714 $ 1,676,926 $ (157,399) -9% Marina Operating Transfers Out Transfer to Debt Service Fund 2,650,907 2,650,907 2,650,907 2,513,513 Transfer to Project Fund $ 1,020,313 1 ,179,525 1,179,525 2,016,193 Sub-Total $ 3,671,220 $ 3,830,432 $ 3,830,432 $ 4,529,706 Total General Fund Expenses & Transfers Out $ .~, $ 6..tHi~ $ 6.41".' $7.$17.:ta2 Reallocations to Project Fund - FY 2010-2011 A proved b eRA Board 1. From: ED Salary - To: Trolley Operations $ 2. From: ED Salary - To: Ocean Ave. Projects $ 3. From: Office Rental - To: Ocean Ave. Projects $ 4. From: BBB Ext. Hardscape - To: Ruth Jones Fee $ Total Transfers Out $ 52,824 54,473 28,915 23,000 159,212 Page 1 General Fund I Dept. 51010 eRA BOARD T 2010-2011 2010-2011 2011-2012 SUMMARY Budget Estimate Budget Amount % 200 CONTRACTUAL EXPENSES $ 22,500 $ 9,500 $ 8,500 $ (14,000) -62% 203 MISCELLANEOUS $ 7,000 $ 5,000 $ - $ (7,000) -100% 216 ADVERTISING & PUBLIC NOTICES $ 2,700 $ 2,000 $ 2,700 $ - 0% 225 CONFERENCES, MEETINGS & SEMINARS $ 10,550 $ 7,000 $ 8,250 $ (2,300) -22% 227 DELIVERY SERVICES $ 1,500 $ 500 $ 500 $ (1,000) -67% 310 OFFICE SUPPLIES $ 1,000 $ 500 $ 500 $ (500) -50% 340 CELLULAR PHONES $ - $ 540 $ 1,560 $ 1,560 0% Change Incr/(Decr) $ 45,250 $ 25,040 $ 22,010 $ (23,240) -51% DETAIL I 200 I CONTRACTUAL EXPENSES $ 22,500 $ 9,500 $ 8,500 Minutes for Board & Special Meetings - CiiVStaff Costs $ 7,500 $ 8,500 $ 8,500 Electronic Agenda + Computers $ 15,000 $ 1,000 $ MISCELLANEOUS COSTS Support Items $ 7,000 $ 5,000 $ ADVERTISING & PUBLIC NOTICES & Legal Notices $ 2,700 $ 2,000 $ 2,700 I 225 I CONFERENCES, MEETINGS & SEMINARS $ 10,550 $ 7,000 $ 8,250 ABC's of CRAs $ 1,050 $ $ 250 Florida Redevelopment Association $ 7,000 $ 7,000 $ 7,000 BoardTraining Workshops $ 2,500 $ $ 1,000 227 DELIVERY SERVICES Delivery of Board Materials $ 1,500 $ 500 $ 500 310 OFFICE SUPPLIES $ 1,000 $ 500 $ 500 340 CELLULAR PHONES $ $ 540 $ 1,560 Page 2 General Fund EXECUTIVE DEPARTMENT FY 2010-2011 ... Dept. 51230 Original I Amended I Estimated 2011-2012 I Change Incrl(Decr) I SUMMARY Budget Budget Expenditures Budget Amount % 100 PERSONNEL SERVICES $ 207,557 $ 79.432 $ 65,273 $ 211,974 $ 4,417 2% 225 CONFERENCES, MEETINGS & SEMINARS S 4,000 $ 4,000 $ 4,000 $ 7,000 $ 3,000 75% 226 MEMBERSHIP DUES S 3,275 $ 3,275 $ 3,275 $ 4,310 $ 1,035 32% 227 DELIVERY SERVICES S 2,000 $ 2,000 $ 1,000 $ 1,000 $ (1,000) -50% 229 CAREER DEVELOPMENT S 1,500 $ 1,500 $ 1,500 $ 2,000 $ 500 33% 310 OFFICE SUPPLIES S 3,000 $ 3,000 $ 1,500 $ 1,500 $ (1,500) -50% 315 POSTAGE S 3,000 $ 3,000 $ 3,000 $ 3,000 $ - 0% 340 CELLULAR PHONE S 720 $ 720 $ 120 $ 900 $ 180 25% 355 SUBSCRIPTIONS S 400 $ 400 $ 410 $ 410 $ 10 3% 360 BOOK & PUBLICATIONS S 500 $ 500 $ - $ 500 $ - 0% 400 EQUIPMENT COSTS S 1,000 $ 1,000 $ - $ 1,000 $ - 0% $ 226,952 $ 98,827 $ 80,078 $ 233,594 I $ 6,642 3%1 DETAIL 100 PERSONNEL SERVICES $ 207,557 $ 79,432 $ 65,273 $211,974 Salaries - Executive Director $ 128,125 $ $ $ 115,000 Administrative Services Manager $ 50,000 $ 50,000 $ 51,500 $ 51,500 Benefits - Health $ 13,824 $ 13,824 $ 6,960 $ 13,920 Dental $ 720 $ 720 $ 360 $ 720 Vision $ 96 $ 96 $ 48 $ 96 Life & Long Term Disability $ 1,165 $ 1,165 $ 365 $ 988 Retirement Benefits $ $ $ $ 17,012 FICA Taxes $ 13,627 $ 13,627 $ 6,040 $ 12,738 225 I CONFERENCES, MEETINGS & SEMINARS $ 4,000 $ 4,000 $ 4,000 $ 7,000 Regional - Local Meetings 3280 $ 3,280 $ 3,280 $ 1,500 National Conference 0 $ $ $ 2,000 State Conference 0 $ $ $ 1,500 Mileage 720 $ 720 $ 720 $ 2,000 226 I MEMBERSHIP DUES $ 3,275 $ 3,275 $ 3,275 $ 4,310 Urban Land Institute $ $ $ $ 600 American Planning Association (APA) $ $ $ $ 810 American Institute of Planners (AICP) $ $ $ $ 500 Business Development Board $ 1,000 $ 1,000 $ 1,000 $ 1,000 Chamber of Commerce $ 1,000 $ 1,000 $ 1,000 $ 400 Florida Redevelopment Association $ 1,000 $ 1,000 $ 1,000 $ 1,000 Council of Development Finance Associations $ 275 $ 275 $ 275 $ 227 DELIVERY SERVICES $ 2,000 $ 2,000 $ 1,000 $ 1,000 I 229 I CAREER DEVELOPMENT $ 1,500 $ 1,500 $ 1,500 $ 2,000 Council of Development Finance Assoc. 3-Yr Certification S 1,500 $ 1,500 $ 1,500 $ American Planning Association Cont. Prof. Ed. S $ $ $ 1,000 Florida Redevelopment Association Certification S $ $ $ 1,000 310 OFFICE SUPPLIES $ 3,000 $ 3,000 $ 1,500 $ 1,500 315 POSTAGE $ 3,000 $ 3,000 $ 3,000 $ 3,000 340 CELLULAR PHONES $ 720 $ 720 $ 120 $ 900 355 SUBSCRIPTIONS $ 400 $ 400 $ 410 $ 410 Florida Trend $ 200 $ 200 $ 200 $ 200 South Florida Business Journal $ 100 $ 100 $ 110 $ 110 Downtown Promotions $ 100 $ 100 $ 100 $ 100 360 BOOK & PUBLICA TIONS $ 500 $ 500 $ $ 500 400 EQUIPMENT COSTS $ 1,000 $ 1,000 $ $ 1,000 Page 3 General Fund FINANCE FY 2010-2011 ... Dept. 51325 Original I Amended I Estimated 2011-20121 Change Incr/(Decr) I SUMMARY Budget Budget Expenditures Budget Amount % 100 PERSONNEL SERVICES $155,781 $ 159,689 $ 159,689 $ 192,441 $ 36,660 24% 200 CONTRACTUAL EXPENSES S 175 $ 175 $ 350 $ 175 $ - 0% 201 BANK FEES S 2,750 $ 2,750 $ 4,000 $ 4,000 $ 1,250 45% 225 CONFERENCES, MEETINGS & SEMINARS S 2,250 $ 2,250 $ 1,750 $ 2,000 $ (250) -11% 226 MEMBERSHIP DUES S 620 $ 620 $ 620 $ 620 $ - 0% 227 DELIVERY SERVICES S 500 $ 500 $ 500 $ 500 $ - 0% 229 CAREER DEVELOPMENT S 3,000 $ 3,000 $ 2,700 $ 3,000 $ - 0% 310 OFFICE SUPPLIES S 2,000 $ 2,000 $ 2,000 $ 2,000 $ - 0% 340 CEllULAR PHONE S - $ - $ 400 $ 540 $ 540 100% 355 SUBSCRIPTIONS S 1,100 $ 1,100 $ 1,000 $ 1,100 $ - 0% 360 BOOK & PUBLICATIONS S 500 $ 500 $ 500 $ 500 $ - 0% 365 OFFICE PRINTING COSTS S 300 $ 300 $ 300 $ 300 $ - 0% $168,976 $ 172,884 $ 173,809 $ 207,176 I $ 38,200 23%1 PERSONNEL SERVICES $155,781 $ 159,689 $ 159,689 S 192,441 Finance Director $ 83,460 $ 85,964 $ 85,964 $ 85,964 Finance Assistant $ 46,800 $ 48,204 $ 48,204 $ 64,000 Benefits - Health $ 13,824 $ 13,824 $ 13,824 $ 13,920 Dental $ 720 $ 720 $ 720 $ 720 Vision $ 96 $ 96 $ 96 $ 96 life & long Term Disability $ 915 $ 915 $ 915 $ 947 Retirement Benefits $ $ $ $ 15,322 FICA Taxes $ 9,966 $ 9,966 $ 9,966 $ 11,472 200 I CONTRACTUAL EXPENSES $ 175 $ 175 $ 350 $ 175 ADP $ $ $ 175 $ Dept. of Community Affairs $ 175 $ 175 $ 175 $ 175 201 I BANK FEES $ 2,750 $ 2,750 $ 4,000 $ 4,000 225 I CONFERENCES, MEETINGS & SEMINARS $ 2,250 $ 2,250 $ 1,750 $ 2,000 Regional-local Meetings $ 1,000 $ 1,000 $ 500 $ 500 Mileage $ 500 $ 500 $ 500 $ 500 Budget Workshop $ 750 $ 750 $ 750 $ 1,000 226 I MEMBERSHIP DUES $ 620 $ 620 $ 620 $ 620 Florida Government Finance Officers Association $ 300 $ 300 $ 300 $ 300 Council of Development Finance Associations $ $ $ $ Government Finance Officers Association $ 320 $ 320 $ 320 $ 320 I 227 DELIVERY SERVICES $ 500 $ 500 $ 500 $ 500 I 229 I CAREER DEVELOPMENT $ 3,000 $ 3,000 $ 2,700 $ 3,000 Florida Government Finance Officers Certification $ 1,500 $ 1,500 $ 1,200 $ 1,500 Council of Development Finance Assoc. 3-Year Certification $ 1,500 $ 1,500 $ 1,500 $ 1,500 I 310 OFFICE SUPPLIES $ 2,000 $ 2,000 $ 2,000 $ 2,000 I 340 CELLULAR PHONES $ $ $ 400 $ 540 I 355 I SUBSCRIPTIONS $ 1,100 $ 1,100 $ 1,000 $ 1,100 Financial Reporting Agencies $ 1,100 $ 1,100 $ 1,000 $ 1,100 I 360 BOOK & PUBLICA TIONS $ 500 $ 500 $ 500 $ 500 I 365 I OFFICE PRINTING COSTS $ 300 $ 300 $ 300 $ 300 Blank Check Stock $ 300 $ 300 $ 300 $ 300 Page 4 General Fund PLANNING FY 2010-2011 .. Dept. 51440 Original I Amended I Estimated 2011-20121 Change Incr/(Decr) I SUMMARY Budget Budget Expenditures Budget Amount % 100 PERSONNEL SERVICES $214,134 $ 22S,912 $ 22S,912 $ 103,318 $ (110,816) -S2% 225 CONFERENCES, MEETINGS & SEMINARS S 9,170 $ 9,170 $ 6,470 $ S,320 $ (3,8S0) -42% 226 MEMBERSHIP DUES S 1,810 $ 1,810 $ 1,810 $ 1,000 $ (810) -4S% 227 DELIVERY SERVICES S 300 $ 300 $ 300 $ 300 $ - 0% 229 CAREER DEVELOPMENT S 2,000 $ 2,000 $ 2,000 $ 1,000 $ (1,000) -SO% 310 OFFICE SUPPLIES S 2,000 $ 2,000 $ 1,SOO $ 1,500 $ (SOD) -2S% 340 CELLULAR PHONE S 1,620 $ 1,620 $ 1,620 $ 720 $ (900) -S6% 360 BOOK & PUBLICATIONS S 300 $ 300 $ 300 $ 300 $ - 0% 365 OFFICE PRINTING COSTS S 1,500 $ 1,SOO $ 1,SOO $ 1,500 $ - 0% $ 232,834 $ 244,612 $ 241,412 $ 114,9581 $(117,876) -51%1 Page S General Fund MARKETING & BUSINESS DEVELOPMENT FY 2010-2011 ... Dept. 57400 Original I Amended I Estimated 2011.2012 I Change Incr/(Decr) I SUMMARY Budget Budget Expenditures Budget Amount % 100 PERSONNEL SERVICES $ 105,689 $ 108.311 $ 108,311 $ 120,446 14,757 14% 216 ADVERTISING & PUBLIC NOTICES S 4,000 $ 4,000 $ 3,000 $ 4,000 - 0% 218 ANNUAL REPORTS & BROCHURES S 7,000 $ 7,000 $ 7,000 $ 5,000 (2,000) -29% 225 CONFERENCES, MEETINGS & SEMINARS S 1,500 $ 1,500 $ 1,500 $ 2,660 1,160 77% 226 MEMBERSHIP DUES S 900 $ 900 $ 900 $ 800 (100) -11% 227 POSTAGE S 3,000 $ 3,000 $ 2,000 $ 2,000 (1,000) -33% 229 CAREER DEVELOPMENT S 3,000 $ 3,000 $ 500 $ 3,000 - 0% 236 PHOTOGRAPHY & VIDEOS S 15,000 $ 15,000 $ 15,000 $ 15,000 - 0% 310 OFFICE SUPPLIES S 5,000 $ 5,000 $ 2,500 $ 2,500 (2,500) -50% 340 CELLULAR PHONE S 1,260 $ 1,260 $ 1,260 $ 1,440 180 14% 355 SUBSCRIPTIONS S 550 $ 550 $ 635 $ 700 150 27% 360 BOOK & PUBLICA nONS S 100 $ 100 $ - $ - (100) -100% 365 OFFICE PRINTING COSTS S 5,000 $ 5,000 $ 4,500 $ 5,000 - 0% $ 151,999 $ 154,621 $ 147,106 $ 162,$46 I S 10,547 7%1 DETAIL 100 PERSONNEL SERVICES S 105,689 $ 108,311 $ 108,311 $ 120,446 Salaries. Marketing Director $ 67,392 $ 69,414 $ 69,414 $ 69,414 Marketing/Events/Eco. Dev!. Assistant (50%) $ 20,000 $ 20,600 $ 20,600 $ 22,880 Benefits - Health $ 10,368 $ 10,368 $ 10,368 $ 10,440 Dental $ 540 $ 540 $ 540 $ 540 Vision $ 72 $ 72 $ 72 $ 72 Life & Long Term Disability $ 632 $ 632 $ 632 $ 610 Retirement Benefits $ $ $ $ 9,430 FICA Taxes $ 6.685 $ 6.685 $ 6.685 $ 7,061 216 I ADVERTISING & PUBLIC NOTICES S 4,000 $ 4,000 $ 3,000 $ 4,000 218 I MARKETING & BUSINESS DEV'L COLLA TERAL $ 7,000 $ 7,000 $ 7,000 $ 5,000 225 I CONFERENCES, MEETINGS & SEMINARS $ 1,500 $ 1,500 $ 1,500 $ 2,660 Regional-Local Meetings $ 1,000 $ 1,000 $ 1,000 $ 1,000 FRA Conference $ $ $ $ 1,000 Mileage $ 500 $ 500 $ 500 $ 660 226 I MEMBERSHIP DUES $ 900 $ 900 S 900 S 800 Visit Florida $ 750 $ 750 $ 750 $ 500 Public Relations Society of America $ 150 $ 150 $ 150 $ 300 227 POSTAGE $ 3,000 $ 3,000 $ 2,000 $ 2,000 229 I CAREER DEVELOPMENT $ 3,000 $ 3,000 $ 500 $ 3,000 Web Master Training/Certification $ 3,000 $ 3,000 $ 500 $ 3,000 236 I PHOTOGRAPHY, VIDEOS, PROMOTIONAL $ 15,000 $ 15,000 $ 15,000 S 15,000 310 I OFFICE SUPPLIES $ 5,000 S 5,000 $ 2,500 $ 2,500 340 I CELLULAR PHONES $ 1,260 S 1,260 $ 1,260 S 1,440 355 I SUBSCRIPTIONS $ 550 $ 550 $ 635 $ 700 Palm Beach Post $ 200 $ 200 $ 125 $ 150 Sun-Sentinel $ 200 $ 200 $ 260 $ 275 PR Week $ 150 $ 150 $ 250 $ 275 360 BOOK & PUBLICA TIONS $ 100 $ 100 $ $ 365 OFFICE PRINTING COSTS $ 5,000 $ 5,000 $ 4,500 $ 5,000 Page 6 General Fund SPECIAL EVENTS FY 2010-2011 T Dept. 57500 Original I Amended I Estimated 2011.2012 I Change Incr/(Decr) I SUMMARY Budget Budget Expenditures Budaet Amount % 100 I PERSONNEL SERVICES $102,044 $ 104,564 $ 104,564 $ 116,339 14,295 14% 200 EVENT SUPPORT $ 10,000 $ 10,000 $ 5,000 $ 10,000 - 0% 225 CONFERENCES, MEETINGS & SEMINARS S 2,000 $ 2,000 $ 2,000 $ 3,020 1,020 51% 226 MEMBERSHIP DUES S 400 $ 400 $ 400 $ 400 - 0% 229 CAREER DEVELOPMENT S 2,000 $ 2,000 $ 1,300 $ 2,000 - 0% 310 OFFICE SUPPLIES S 2,000 $ 2,000 $ 1,500 $ 1,500 (500) -25% 340 CELLULAR PHONE S 1,680 $ 1,680 $ 1,680 $ 1,680 - 0% 355 SUBSCRIPTIONS S 250 $ 250 $ 250 $ 250 - 0% 360 BOOK & PUBLICATIONS S 200 $ 200 $ - $ - (200) -100% 400 EQUIPMENT S 1,250 $ 1,250 $ 1,250 $ 1,250 - 0% $121,824 $ 124,344 $ 117,944 $ 136,439 I $ 14,615 12%1 DETAIL 100 PERSONNEL SERVICES $102,044 $ 104,564 $ 104,564 $ 116,339 Salaries - Events Director $ 64,022 $ 65,942 $ 65,942 $ 65,943 Marketing/Events/Eco. Dev!. Assistant (50%) $ 20,000 $ 20,600 $ 20,600 $ 22,880 Benefits - Health $ 10,368 $ 10,368 $ 10,368 $ 1 0,440 Dental $ 540 $ 540 $ 540 $ 540 Vision $ 72 $ 72 $ 72 $ 72 Life & Long Term Disability $ 615 $ 615 $ 615 $ 594 Retirement Benefits $ $ $ $ 9,076 FICA Taxes $ 6,427 $ 6,427 $ 6,427 $ 6,795 200 EVENT SUPPORT $ 10,000 $ 10,000 $ 5,000 $ 10,000 225 I CONFERENCES, MEETINGS & SEMINARS $ 2,000 $ 2,000 $ 2,000 $ 3,020 Regional-Local Meetings $ 1,000 $ 1,000 $ 1,000 $ 1,000 FRA Conference $ $ $ $ 1,000 Mileage $ 1,000 $ 1,000 $ 1,000 $ 1,020 226 I MEMBERSHIP DUES $ 400 $ 400 $ 400 $ 400 FFEA $ 325 $ 325 $ 325 $ 325 Gold Coast PR Council $ 75 $ 75 $ 75 $ 75 229 I CAREER DEVELOPMENT $ 2,000 $ 2,000 $ 1,300 $ 2,000 Web Master Training/Certification $ 1,600 $ 1,600 $ 500 $ 1,000 FL Festivals & Events Training $ 400 $ 400 $ 800 $ 1,000 310 OFFICE SUPPLIES $ 2,000 $ 2,000 $ 1,500 $ 1,500 340 CELLULAR PHONES $ 1,680 $ 1,680 $ 1,680 $ 1,680 355 SUBSCRIPTIONS $ 250 $ 250 $ 250 $ 250 360 BOOK & PUBLICA TIONS $ 200 $ 200 $ $ 400 EQUIPMENT $ 1,250 $ 1,250 $ 1,250 $ 1,250 Page 7 General Fund I Dept. 51410 INSURANCES 2010-2011 .- 2010-2011 2011-2012 I Change Incr/(Decr) I SUMMARY Budget Estimate Budget Amount % 200 CONTRACTUAL EXPENSES $ 23,650 $ 23,650 $ 23,650 - 0% 213 GENERAL PROPERTY COVERAGE $ 44,000 $ 55,000 $ 55,000 11,000 25% 214 EMPLOYEE FIDELITY COVERAGE $ 1,000 $ 1,000 $ 1,000 - 0% 215 OFFICIALS & EMPL Y. PRACTICES LIABILITY $ 6,500 $ - $ - (6,500) -1 00% 154 OTHER INSURANCES $ 33,500 $ 28,500 $ 29,500 (4,000) 0% $ 108,650 $ 108,150 $ 109,150 1 $ 500 0%1 OTHER INSURANCES $ 33,500 $ 28,500 $ 29,500 153 Retirement Plan Fees 1$ - $ 1,000 $ 1,000 154 Workers Comp Insurance $ 3,500 $ 2,500 $ 3,500 159 Unemployment Taxes $ 5,000 $ 25,000 $ 5,000 161 Leave Payouts $ 25,000 $ . $ 20,000 Page 8 General Fund I Dept. 51420 PROFESSIONAL SERVICES 2010-2011 .... 2010-2011 2011-2012 I Change Incr/(Decr) I SUMMARY Budget Estimate Budget Amount % 200 CONTRACTUAL SERVICES $ 160,000 $ 154,000 $ 145,000 (15,000) -9% 201 LEGAL SERVICES $ 75,000 $ 70,000 $ 75,000 - 0% 204 OTHER PROFESSIONAL FEES $ 19,500 $ 15,000 $ 15,000 (4,500) -23% $ 254,500 $ 239,000 $ 235,000 I $ (19,500) -8%1 DETAIL CONTRACTUAL EXPENSES $ 160,000 $ 154,000 $ 145,000 Audit SelVices $ 30,000 $ 30,000 $ 30,000 Marina Audit & Fuel Collection Audit $ 15,000 $ 15,000 $ 15,000 Bond Indenture Compliance $ 15,000 $ 12,000 $ 15,000 Risk Assessment Standards/Financial Services $ 30,000 $ 30,000 $ 30,000 CRA Marketing & Website SelVices $ 30,000 $ 30,000 $ 20,000 Personnel Services $ 15,000 $ 20,000 $ 15,000 Economic Development Financial Assessment $ 10,000 $ 7,000 $ 10,000 Grant Consultant $ 15,000 $ 10,000 $ 10,000 201 LEGAL SERVICES $ 75,000 $ 70,000 $ 75,000 204 I OTHER PROFESSIONAL FEES $ 19,500 $ 15,000 $ 15,000 Fire Inspections $ 500 $ 500 $ 500 City HR ILA - Annual Pooling Charge (Stop Loss) $ 4,500 $ $ City HR ILA $ 14,500 $ 14,500 $ 14,500 Page 9 General Fund BUILDINGS & GROUNDS FY 2010-2011 ,. Dept.51620 Original I Amended 1 Estimated 2011.2012 I Change Incr/(Decr) I SUMMARY Budget Budget Expenditures Budget Amount % 200 CONTRACTUAL EXPENSES S 2,500 $ 2,500 $ 2,500 $ 2,500 - 0% 201 PROPERTY TAXES & ASSOCIATION DUES S 100,000 $ 100,000 $ 100,000 $ 100,000 - 0% 205 RENTAL OF OFFICES S 86,200 $ 57,285 $ 57,285 $ 85,304 (896) -1% 208 EQUIPMENT LEASES S 22,000 $ 22,000 $ 20,000 $ 18,000 (4,000) -18% 209 PROPERTY MAINTENANCE COSTS S 159,880 $ 136,880 $ 111,880 $ 145,000 (14,880) -9% 224 SIGNAGE S 7,500 $ 7,500 $ 7,500 $ 7,500 - 0% 325 ELECTRIC COSTS S 9,000 $ 9,000 $ 7,000 $ 15,600 6,600 73% 326 WATER COSTS S 6,000 $ 6,000 $ 6,000 $ 7,800 1,800 30% $ 393,080 $ 341,165 $ 312,165 $ 381,704 1 $ (11,376) -3%1 DETAIL CONTRACTUAL EXPENSES $ 2,500 $ 2,500 $ 2,500 $ 2,500 Alarms & Pest Control 201 PROPERTY TAXES & ASSOCIA TION DUES $ 100,000 $ 100,000 $ 100,000 $ 100,000 205 I RENTAL OF OFFICES $ 86,200 $ 57 ,285 $ 57,285 $ 85,304 915 S. Federal Highway + 710 N. Federal Hwy $ 79,100 $ 50,185 $ 50,185 $ 78,204 Storage Facilities $ 7,100 $ 7,100 $ 7,100 $ 7,100 208 EQUIPMENT LEASES $ 22,000 $ 22,000 $ 20,000 $ 18,000 209 I PROPERTY MAINTENANCE COSTS $ 159,880 $ 136,880 $ 111,880 $ 145,000 General Repairs $ 15,000 $ 15,000 $ 15,000 $ 10,000 Janitorial Services $ 10,000 $ 10,000 $ 10,000 $ 15,000 Property Maintenance $ 42,880 $ 42,880 $ 42,880 $ 45,000 Promenade. Hardscape Maintenance $ 25,000 $ 2,000 $ 2,000 $ 25,000 Promenade. Softscape Maintenance $ 20,000 $ 20,000 $ 20,000 $ 20,000 Jaycee Park. Mangrove Environmental Monitoring $ 2,000 $ 2,000 $ 2,000 $ Jaycee Park. Mangrove Maintenance $ 5,000 $ 5,000 $ 5,000 $ HurricanelProperty Contingency $ 25,000 $ 25,000 $ $ 25,000 Leasehold Improvements 710 N. Federal Highway $ 15,000 $ 15,000 $ 15,000 $ 5,000 224 SIGNAGE $ 7,500 $ 7,500 $ 7,500 $ 7,500 325 ELECTRICITY COSTS $ 9,000 $ 9,000 $ 7,000 $ 15,600 326 WA TER COSTS $ 6,000 $ 6,000 $ 6,000 $ 7,800 Page 10 General Fund I Dept. 51630 MARINA .. 2010-2011 2010-2011 2011-2012 I Change Incr/(Decr) I SUMMARY Budget Estimate Budget Amount % 200 CONTRACTUAL EXPENSES $ 500 $ 500 $ 500 - 0% 209 PROPERTY MAINTENANCE COSTS $ 31,980 $ 31,980 $ 35,800 3,820 12% 241 MARINA MANAGEMENT CONTRACT $ 148,000 $ 148,000 $ 148,000 - 0% 242 FUEL STATION OVERHEAD $ 37,200 $ 37,200 $ 44,200 7,000 19% 310 OFFICE SUPPLIES $ - $ - $ 500 500 100% 325 ELECTRIC COSTS $ 13,200 $ 13,200 $ 15,400 2,200 17% 326 WATER CHARGES $ 2,400 $ 2,100 $ 2,100 (300) -13% 327 GASOLINE & DEISEL CHARGES $ 680,420 $ 850,000 $ 850,000 169,580 25% 328 DIESEL SALES TAX $ 12,000 $ 13,500 $ 14,000 2,000 17% 400 EQUIPMENT COSTS $ 1,000 $ - $ - (1,000) -100% $ 926,700 $ 1,096,480 $1,110,500 I $ 183,800 20%1 Page 11 General Fund I INFORMATION TECHNOLOGY Dept. 51650 I 2010-2011 2010-2011 ~ 2011-20121 Change Incr/(Decr) I SUMMARY Budget Estimate Budget Amount % 200 CONTRACTUAL EXPENSES $ 3,760 $ 3,260 $ 2,000 (1,760) -47% 210 CITY IT SUPPORT $ 21,000 $ 21,000 $ 22,000 1,000 5% 211 COMPUTER SOFTWARE & LICENSES $ 3,000 $ 1,500 $ 1,500 (1,500) N/A 212 FINANCIAL SOFTWARE MAINTENANCE $ 6,500 $ 7,250 $ 7,850 1,350 21% 330 TELEPHONE LINES $ 13,000 $ 10,000 $ 8,000 (5,000) -38% 400 EQUIPMENT COSTS $ 8,000 $ 4,000 $ 8.000 - 0% $ 55.260 $ 47,010 $ 49.350 1 $ (5,910) -11%1 DETAIL CONTRACTUAL EXPENSES $ 3,760 $ 3,260 $ 2,000 Financial Accounting Software Updates $ 1,000 $ 500 $ 500 Maintenance of Phone System $ 2,760 $ 2,760 $ 1,500 210 IT SUPPORT $ 21,000 $ 21,000 $ 22,000 211 COMPUTER SOFTWARE & LICENSES $ 3,000 $ 1,500 $ 1,500 212 SOFTWARE SUPPORT $ 6,500 $ 7,250 $ 7,850 330 TELEPHONE SYSTEM & DA TA LINES $ 13,000 $ 10,000 $ 8,000 400 EQUIPMENT COSTS $ 8,000 $ 4,000 $ 8,000 Page 12 General Fund I CONTINGENCY ACCOUNT Dept. 51990 200 I CONTRACTUAL EXPENSES Contingencies .. I 2010-2011 2010-2011 2011-2012 I Change Incr/(Decr) Budget Estimate Budget Amount % I $ 75,000 $ $ 25,000 I $ (50,000) -67%1 Page 13 BOYNTON BEACH eRA SALARY SCHEDULE and RELATEDPlSRSONNEL EXPENSES BUDGET WORKSHEET FOR THE FISCAL YEAR OCTOBER 1,2011 - SEPTEMBER 30,2012 FICA TAXES CURRENT 6.20% 1.45% HEALTH DENTAL VISION LIFE LONG TERM RETIREMENT TOTAL NAME POSITION SALARY SOC. SEC. MEDICARE INSUR. INSUR. INSUR. INSUR. DISABILITY BENEFITS PROPOSED BROOKS, VIVIAN EXECUTIVE DIRECTOR $ 115,000 $ 7,130 $ 1,668 $ 6,960 $ 360 $ 48 $ 108 $ 524 $ 11,750 $ 143,547 HARRIS, SUSAN FINANCE DIRECTOR $ 85,964 $ 5,330 $ 1,246 $ 6,960 $ 360 $ 48 $ 108 $ 414 $ 8,783 $ 109,213 SIMON, MICHAEL DEVELOPMENT DIRECTOR $ 80,983 $ 5,021 $ 1,174 $ 6,960 $ 360 $ 48 $ 108 $ 390 $ 8,274 $ 103,318 WALSH, MARGEE MARKETING DIRECTOR $ 69,414 $ 4,304 $ 1,006 $ 6,960 $ 360 $ 48 $ 108 $ 334 $ 7,092 $ 89,627 BISCUITI, KATHY SPECIAL EVENTS DIRECTOR $ 65,943 $ 4,088 $ 956 $ 6,960 $ 360 $ 48 $ 108 $ 318 $ 6,738 $ 85,518 UTTERBACK,THERESA ADMIN. SERVICES MANAGER $ 51,500 $ 3,193 $ 747 $ 6,960 $ 360 $ 48 $ 108 $ 248 $ 5,262 $ 68,426 HILL, VICKI FINANCE ASSISTANT $ 64,000 $ 3,968 $ 928 $ 6,960 $ 360 $ 48 $ 108 $ 317 $ 6,539 $ 83,229 ENGLISH, HEATHER MKTING/EVTSIECO DEV ASST $ 45,760 $ 2,837 $ 664 $ 6,960 $ 360 $ 48 $ 108 $ 227 $ 4,675 $ 61,639 FY 2011-2012 578,563 I $ 35,871 I $ 2,7721 $ Total Benefit Cost (excl. taxes) = % of Total Proposed Salaries = 1$ $ 8,389 1 $ 55,680 I $ 2,880 I $ 384 I $ 864 I $ 59,114 I $ 744,517 I 121,694 16% 457(b) . 5% Match 401(a) . Employer Contribution RETIREMENT BENEFITS ANALYSIS 457b 401a Current 5% MATCH 5.2% TOTAL Vivian Brooks $ 115,000 5,750 6,000 11,750 Susan Harris $ 85,964 4,298 4,485 8,783 Mike Simon $ 80,983 4,049 4,225 8,274 Margee Walsh $ 69,414 3,4 71 3,622 7,092 Kathy Biscuiti $ 65,943 3,297 3,440 6,738 Theresa Utterback $ 51,500 2,575 2,687 5,262 Vicki Hill $ 64,000 3,200 3,339 6,539 Heather English $ 45,760 2,288 2,387 4,675 Total $ 578,563 $ 28,928 $ 30,186 $ 59,114 CRA contribution to employee retirement benefits = 10.2% annually City contribution to employee pension = five year range of 13.44% to 18.43% annually Page 14 Boynton Beach eRA Project Fund - Budget Summary T 2011-2012 Estimated Proposed I FUNDING SOURCES Revenues Bud t Rollover from Project Fund - Magnuson House 336,795 Ruth Jones Interior Rollover Budget Reallocation from FY 2010-2011 $ 153,500 $ 153,500 100% Rollover from Project Fund Balance Allocation $ 67,929 67,929 67,929 $ 67,929 100% Project Fund - Bond #2 Remaining Proceeds $ 300,000 300,000 300,000 51 ,402 $ (248,598) -83% Grant Revenue - Children's Museum Windows $ 294,000 294,000 96,694 197,306 $ (96,694) -33% Fund Balance - 4th Street per ILA $ 436,680 436,680 436,680 $ (436,680) -100% Grant Revenue - NSP Funds from City $ 400,000 400,000 400,000 $ (400,000) -100% Project Fund Rollover - HOB Project $ 281,660 281,660 281,660 $ (281,660) -100% Rollover - FY 2008-2009 - For New Capital Projects $ 490,000 490,000 490,000 $ (490,000) -100% Fund Balance - Remaining 4th St.-For New Projects $ 500,000 500,000 500,000 $ (500,000) -100% Rollover - FY 09/10 Budget Realloc.-For New Projects $ 230,240 230,240 230,240 $ (230,240) -100% Sub-Total $ 2,932,580 $ 3,000,509 $ 2,803,203 $ 806,932 $ (2,125,648) -72% Transfers In from General Fund Other Financing SourceslTransfers In $ 1,020,313 $1,020,313 $ 1,020,313 $2,016,193 $ 995,880 98% Transfer from General Fund - CRA Board Approved $ 159,212 159,212 $ 0% Total Transfers In from General Fund $ 1,020,313 $ 1,179,525 $ 1,179,525 $ 2,016,193 $ 995,880 98% Total Revenues and Transfers In $ 3,9li2,$Sl3 $ 4,180,034 $ 3,982,728 $ 2,823,125 $ (1,129,768) -29% T 2011-2012 Proposed vs. 2010-2011 I EXPENSES Estimated ProtJO$ed Increasel Decrease) Department Name Expenditures B.' 't Amount % Operating Expenses Contingengy $ $ 100,000 $ 100,000 100% Design & Engineering $ 81,534 91,534 91,534 50,000 $ (31,534) -39% legal Services $ 50,000 40,000 40,000 65,000 $ 15,000 30% Sub-Total $ 131,534 $ 131,534 $ 131,534 $ 215,000 $ 83,466 63% Capital Outlay Improvements $ 138,534 $ 138,534 100% Construction in Progress $ 1,514,240 2,009,959 1,203,027 1,334,101 $ (180,139) -12% Site Work & Demolition Fees $ 25,000 25,000 25,000 50,000 $ 25,000 100% Sea Life Illumination Along Ocean Avenue $ 50,000 $ 50,000 100% 4th Street Project $ 285,000 436,680 436,680 $ (285,000) -100% HOB Project $ 281,660 111,660 111,660 $ (281,660) -100% NSP Funding for Oceanbreeze $ 400,000 400,000 400,000 $ (400,000) -100% Sub-Total $ 2,505,900 $ 2,983,299 $ 2,176,367 $1,572,635 $ (933,265) -37% Affordable Housing $ 100,000 $ (100,000) -100% Economic Development Programs Commercial Far;ade Grants $ 90,000 64,083 64,083 90,000 $ 100% Commercial Rent Subsidy, Interior, Signage $ 110,000 84,515 84,515 120,000 $ 10,000 100% Creation of Marketing Incentive Program $ 20,000 $ 20,000 100% Transportation Program $ 151,680 52,824 52,824 $ (151,680) 100% DIFA - Economic Development $ 215,779 215,779 215,779 547,500 $ 331,721 100% Sub-Total $ 567,459 $ 417,201 $ 417,201 $ 777,500 $ 210,041 37% Proiects & Programs Special Events $ 218,000 218,000 218,000 257,990 $ 39,990 18% Community Police Program $ 430,000 430,000 430,000 $ (430,000) -100% Sub-Total $ 648,000 $ 648,000 $ 648,000 $ 257,990 $ (390,010) -60% Total Project Fund Expenses $ 3.952,893 $ 4.180,034 $ 3,373,102 $2.$23,125 $ (1,129.768) -29% Page 15 Project Fund OPERATING EXPENSES FY 2010-2011 .... Dept. 58100 Original I Amended I Estimated 2011-2012 I Change Incr/(Decr) I SUMMARY Budget Budget Expenditures Budget Amount % 202 CONTINGENCY $ - $ - $ - $ 100,000 100,000 100% 203 PROFESSIONAL SERVICES $ 81,534 $ 91,534 $ 91,534 $ 50,000 (31,534) -39% 213 LEGAL SERVICES $ 50,000 $ 40,000 $ 40,000 $ 65.000 15,000 30% $131,534 $ 131 ,534 $ 131,534 $ 215,080 I $ 83,466 63%1 I aet"L I 202 I CONTINGENCY $ $ $ $ 100,000 203 I PROFESSIONAL SERVICES $ 81,534 $ 91,534 $ 91,534 $ 50,000 Old High School Consultant $ 52,000 $ 52,000 $ 52,000 $ Surveys & Appraisals $ 10,000 $ 10,000 $ 10,000 $ 10,000 Architectural Design Assistance $ 19,534 $ 29,534 $ 29,534 $ 40,000 Page 16 Project Fund CAPITAL OUTLAY FY 2010-2011 ... Dept. 58200 Original I Amended I Estimated 2011-2012 I Change Incr/(Decr) I SUMMARY Budget Budget Expenditures Budget Amount % 402 IMPROVEMENTS $ - - - 138,534 $ 138,534 100% 404 CONSTRUCTION IN PROGRESS $1,514,240 $ 2,009,959 $ 1,203,027 $ 1,334,101 $ (180,139) -12% 405 SITE WORK & DEMOLITION FEES $ 25,000 $ 25,000 $ 25,000 $ 50,000 $ 25,000 100% 406 INFRASTRUCTURE & STREETSCAPE $ 966,660 $ 948,340 $ 948,340 $ 50,000 $ (916,660) -95% $ 2,505,900 $ 2,983,299 $ 2,176,367 $ 1,572,635 I $ (933,2651 -37%1 Page 17 Project Fund ECONOMIC DEVELOPMENT PROGRAMS ... Dept. 58400 Original Estimated 2011-2012 I Change Incr/(Decr) I SUMMARY Budget Expenditures Budget Amount % 440/444 COMMERCIAL BUSINESS GRANTS $ 200,000 $ 148,598 $ 230,000 30,000 15% 442 TRANSPORTATION PROGRAM $ 151,680 $ 52,824 $ (151,680) -100% 443 DIRECT INCENTIVE FUNDING AGREEMENTS DIFA $ 215,779 $ 215,779 $ 547,500 331,721 154% $ 567,459 $ 417,201 $ 777,500 $ 210,041 37% Page 18 Project Fund PROJECTS & PROGRAMS Dept. 58500 . 2010-2011 2010-2011 2011-2012 I Change Incr/(Decr)j SUMMARY Budget Estimate Budget Amount % 480 I SPECIAL EVENTS $ 218,000 $ 218,000 $ 257,990 $ 39,990 18% 460 I POLICE PROGRAM $ 430,000 $ 430,000 $ - $ (430,000) -100% $ 648,000 $ 648,000 $ 257,990 I $ (390,010) -60%1 DETAil SPECIAL EVENTS $ 218,000 $ 218,000 $ 257,990 Holiday Extravaganza $ 100,000 $ 100,000 $ 100,000 - Parade $ 20,000 $ 20,000 $ 20,000 - Tree, Lighting, Holiday Decorations $ 20,000 $ 20,000 $ 20,000 - Concert $ 60,000 $ 60,000 $ 60,000 " ; '- 1$,4io Salute t.; Jhdependence - 4th of July $ $ 7S,OC)O $ 75,~O - Fireworks $ 50,000 $ 50,000 $ 50,000 - Barge $ 14,000 $ 14,000 $ 14,000 - Concert & Securit~ $ 11,000 $ 11,000 $ 11 ,290 Oee.n AV9nu~' toncert 'Series ~~'.,J'~:)", .'.,""., ':.";' "t!~ "" ;.,:~; '<i' $ 7,500 $ 7,500 $ 6,000 - January/February/March/April/Ma~ .,', " ',,_ ': .".' "C."', ",' "','''i'''''W ,;,,",':',_.,;; -" ," .," "'".", .. .- \$ 3i~50o' . ,.c, . ",." ,." d 76;700 Other Events $ 35,$00 $ - Boat Parade $ 5,000 $ 5,000 $ 5,000 - Movies on the Ave $ 8,000 $ 8,000 $ 7,500 - Mayor's Challenge Family Fun RunlWalk $ $ $ 1,000 - Amphitheatre-Downtown Open Market $ $ $ 5,000 - Pirate Event on- Ocean Avenue $ $ $ 45,000 - Sunday Family Funday at Marina $ $ $ 13,200 - Heritage Fest at Sims Center $ 15,000 $ 15,000 $ - Family Day at Sims Center $ 5,000 $ 5,000 $ - Palm Beach Jewish Film Festival $ 2,500 $ 2,500 $ $ 430,000 $ 455,000 $ (50,000) $ 25,000 $ $ 430,000 $ $ 455,000 $ $ (50,000) $ $ 25,000 $ $ $ I 460 I POLICE Personnel Costs Personnel Costs - Less COPS Grant Allocation Equipment & Training Costs Vehicle Costs/Reserve Page 19 Boynton Beach eRA Debt Service Fund - Budget Summary ~ 2010-2011 2010-2011 2011-2012 I Change Incr/(Decr) Dept. # Funding Sources Budget Estimate Budget Amount % 49900 Transfers In from General Fund $ 2,650,907 $ 2,650,907 $ 2,513,513 (137,394) -5% Dept. # Expenses 59800-810 BOA - Loan Principal $ 220,368 $ 220,368 $ 232,960 12,592 6% 59800-820 BOA - Loan Interest $ 84,470 $ 84,470 $ 71,877 (12,593) -15% 59800-811 Bond #1 Principal $ 675,000 $ 675,000 $ 695,000 20,000 3% 59800-821 Bond #1 Interest $ 714,525 $ 714,525 $ 690,900 (23,625) -3% 59800-812 Bond #2 Principal $ 285,000 $ 285,000 $ 300,000 15,000 5% 59800-822 Bond #2 Interest $ 536,810 $ 536,810 $ 522,275 (14,535) -3% 59800-813 Marina - Loan Principal $ 182,331 $ 182,331 $ (182,331) -100% 5900-823 Marina - Loan Interest $ 1,903 $ 1,903 $ (1,903) -100% 59800-830 Financial Agent Fees $ 500 $ 500 $ 500 0% Sub-Total $ 2,700,907 $ 2,700,907 $ 2,513,513 (187,394) -7% Less Fund Balance Allocation $ (50,000) $ (50,000) $ 50,000 -100% Total Debt Service Fund Expenses $ 2,650,907 $ 2,650,907 $ 2,513,513 (137,394) -5% Page 20 BOYNTON BEACH CRA DeBT OveRvtEW BUDGeT WORKSHEET FOR THe FISCAL YEAR OCTOBeR 1, 2611 . SEPTEMBER 30, 2012 FUND TYPE DUE DATE DESCRIPTION PRINCIPAL PRINCIPAL INTEREST Total Prin. AS OF 10f01f11 PAYMENT PAYMENT + Interest DEBT SERVICE LOAN 3/20/2012 BANK OF AMERICA LOAN $1,309,135.49 $115,024.87 $37,394.00 $152,418.87 LOAN 9/20/2012 Expires Sept., 2016. 5.65% $117,935.61 $34,483.26 $152,418.87 $232,960.48 $71,877.26 $304,837.741 DEBT SERVICE BOND #1 4/1/2012 2004 BONDS $14,835,000.00 $345,450.00 $345,450.00 BOND #1 9/30/2012 Expires Sept., 2024 - 3% to 5% $695,000.00 $345,450.00 $1,040,450.00 $695,000.00 $690,900.00 $1,385,900.001 DEBT SERVICE BOND #2 4/1/2012 2005 BONDS $9,980,000.00 $261,137.50 $261,137.50 BOND #2 9/30/2012 Expires Sept., 2026 - 4.6% to 5.65% $300,000.00 $261,137.50 $561,137.50 $300,000.00 $522,275.00 $822,275.001 I TOTAL DEBT SERVICE FY 2011-2012 Principal $ 1,227,960.48 Interest $ 1,285,052.26 Fee $ 500.00 Total $ 2,513,512.74 Page 21 PRINCIPAL BAL. AS OF 09/30/2012 $1,076,175.011 $14,140,000.001 $9,680,000.00 I $24,896,175 BOYNTON BEACH CRA DEBT SERVICE REQUIREMENTS PRINCIPAL & INTEREST YEAR BOA LOAN BOND # 1 BOND # 2 TOTAL FY 2011-2012 $ 304,838 $ 1,385,900 $ 822,275 $ 2,513,013 FY 2012-2013 $ 304,838 $ 1,389,838 $ 816,975 $ 2,511,650 FY 2013-2014 $ 304,838 $ 1,385,838 $ 821 ,165 $ 2,511,840 FY 2014-2015 $ 304,838 $ 1,385,838 $ 824,335 $ 2,515,010 FY 2015-2016 $ 304,838 $ 1,389,638 $ 821,485 $ 2,515,960 FY 2016-2017 $ 1,705,000 $ 810,863 $ 2,515,863 FY 2017-2018 $ 1,706,750 $ 809,675 $ 2,516,425 FY 2018-2019 $ 1,705,500 $ 807,358 $ 2,512,858 FY 2019-2020 $ 1,706,250 $ 808,910 $ 2,515,160 FY 2020-2021 $ 1,702,250 $ 809,050 $ 2,511,300 FY 2021-2022 $ 1,707,250 $ 807,778 $ 2,515,028 FY 2022-2023 $ 1,703,500 $ 810,093 $ 2,513,593 FY 2023-2024 $ 1,706,250 $ 805,713 $ 2,511,963 FY 2024-2025 $ 2,514,920 $ 2,514,920 FY 2025-2026 $ 2,512,665 $ 2,512,665 ..... TOTAL $ 1,524,189 $ 20,579,800 $ 15,603,258 $ 37,707,246 Interest Rates 5.65% 3% - 5% 4.6% - 5.6% Page 22