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Agenda 07-14-14 FINANCIAL ADVISORY COMMITTEE MISSION STATEMENT THE FINANCIAL ADVISORY COMMITTEE’S GENERAL RESPONSIBILITY IS REVIEWING THE IMPACT OF EXISTING OR PROPOSED LEGISLATIVE AND ADMINISTRATIVE DECISIONS ON THE CITY’S BUDGET, REVENUE SOURCES, AND OPERATIONAL EXPENDITURES. THE COMMITTEE IS RESPONSIBLE TO MAKE RECOMMENDATIONS THAT MAY FAVORABLY IMPACT THE CITY’S BUDGET AND OVERALL FINANCIAL CONDITION OF THE CITY. MEETING OF MONDAY, JULY 14, 2014 @ 6:00 – 8:00 P.M. LIBRARY CONFERENCE ROOM A THE COMMITTEE MAY ONLY CONDUCT PUBLIC BUSINESS AFTER A QUORUM HAS BEEN ESTABLISHED. IF NO QUORUM IS ESTABLISHED WITHIN TWENTY (20) MINUTES OF THE NOTICED START TIME OF THE MEETING, THE CITY CLERK OR DESIGNEE WILL SO NOTE THE FAILURE TO ESTABLISH A QUORUM AND THE MEETING SHALL BE CONCLUDED. COMMITTEE MEMBERS MAY NOT PARTICIPATE FURTHER EVEN WHEN PURPORTEDLY ACTING IN AN INFORMAL CAPACITY. AGENDA Call to Order – Steven Grant, Chair Should any members not be able to make the meeting; contact Tim Howard (HowardT@bbfl.us) or (561) 742-6311 by 1 pm Monday as the meeting may be cancelled for lack of a quorum. Other Business Updated List of Committee Members – see attached List of Original Assignment Areas for FY2014-15 – see attached Review of Committee Member recommendations 1. Have Dolores and Ed’s recommendations. 2. Jeff Grady recommendations? (see attached email) 3. Christine Stella 4. Steven Grant st Budget Workshop, Monday, July 21 at 2pm in Library Program Room, FAC will probably present their recommendations somewhere in first hour or so. Will need the following sent to th Tim by Wednesday, July 16 in order to get to agenda item to Commission. (attached is last year’s) 1. Executive Summary, if doing one 2. Summary of Survey 3. Christine and Steven’s recommendation’s in word format if possible Adjournment ndth Currently scheduled future meeting dates - Targeted for 2 and 4 Monday of each month: Monday, July 28, 2014 – 6:00 PM S:\Finance\Financial Advisory Committee\Agenda\Agenda - 07-14-14.doc ,� The City ofBoynton Beach FINANCIAL ADVISORY COMMITTEE MISSION STATEMENT THE FINANCIAL ADVISORY COMMITTEE'S GENERAL RESPONSIBILITY IS REVIEWING THE IMPACT OF EXISTING OR PROPOSED LEGISLATIVE AND ADMINISTRATIVE DECISIONS ON THE CITY'S BUDGET, REVENUE SOURCES, AND OPERATIONAL EXPENDITURES. THE COMMITTEE IS RESPONSIBLE TO MAKE RECOMMENDATIONS THAT MAY FAVORABLY IMPACT THE CITY'S BUDGET AND OVERALL FINANCIAL CONDITION OF THE CITY. MEETING OF MONDAY, JULY 14, 2014 @ 6:00 — 8:00 P.M. LIBRARY CONFERENCE ROOM A THE COMMITTEE MAY ONLY CONDUCT PUBLIC BUSINESS AFTER A QUORUM HAS BEEN ESTABLISHED. IF NO QUORUM IS ESTABLISHED WITHIN TWENTY (20) MINUTES OF THE NOTICED START TIME OF THE MEETING, THE CITY CLERK OR DESIGNEE WILL SO NOTE THE FAILURE TO ESTABLISH A QUORUM AND THE MEETING SHALL BE CONCLUDED. COMMITTEE MEMBERS MAY NOT PARTICIPATE FURTHER EVEN WHEN PURPORTEDLY ACTING IN AN INFORMAL CAPACITY. AGENDA • CaII to Order — Steven Grant, Chair • Should any members not be able to make the meeting; contact Tim Howard (HowardT(a bbfl.us) or (561) 742 -6311 by 1 pm Monday as the meeting may be cancelled for lack of a quorum. • Other Business • Updated List of Committee Members — see attached • List of Original Assignment Areas for FY2014 -15 — see attached • Review of Committee Member recommendations 1. Have Dolores and Ed's recommendations. 2. Jeff Grady recommendations? (see attached email) 3. Christine Stella 4. Steven Grant • Budget Workshop, Monday, July 21 at 2pm in Library Program Room, FAC will probably present their recommendations somewhere in first hour or so. Will need the following sent to Tim by Wednesday, July 16 in order to get to agenda item to Commission. (attached is last year's) 1. Executive Summary, if doing one 2. Summary of Survey 3. Christine and Steven's recommendation's in word format if possible • • Adjournment Currently scheduled future meeting dates - Targeted for 2 and 4 Monday of each month: • Monday, July 28, 2014 — 6:00 PM C: \Documents and Settings \cherryc \Local Settings \Temporary Internet Files \Content.Outlook \XK7J2HZQ \Agenda - 07- 14- 14.doc G ti` o CITY OF BOYNTON BEACH 4 '" AGENDA ITEM REQUEST FORM COMMISSION MEETING DATE: July 16, 2013 ❑ OPENINGS ❑ PUBLIC HEARING ❑ OTHER ❑ CITY MANAGER'S REPORT NATURE OF ® ANNOUNCEMENTS /PRESENTATIONS ❑ UNFINISHED BUSINESS AGENDA ITEM ❑ ADMINISTRATIVE ❑ NEW BUSINESS ❑ CONSENT AGENDA ❑ LEGAL ❑ BIDS AND PURCHASES OVER $100,000 ❑ FUTURE AGENDA ITEMS CODE COMPLIANCE AND LEGAL ❑ SETTLEMENTS REQUESTED ACTION BY CITY COMMISSION: Consider the recommendations of the Financial Advisory Committee (FAC) presented by Don Scantian, FAC Chair, in connection with the upcoming City Commission budget workshops on July 22, 23 and 24. EXPLANATION OF REQUEST: This presentation provides a summary to the City Commission of the Committee's City Services Citizen Survey and four (4) budget recommendations for the Commission's consideration in upcoming budget discussions. The attached Executive Summary for Budget Year 2013 -2014 summarizes and lists the individual recommendations in two (2) attached documents. • City Services Citizen Survey results and recommendation • Four (4) individual recommendations HOW WILL THIS AFFECT CITY PROGRAMS OR SERVICES? The recommendations of the Financial Advisory Committee propose cost savings alternatives to consider in connection with City services. FISCAL IMPACT: The fiscal impact on the budget for FY 2013 -14 cannot be determined at this time for each of the topics studied. ALTERNATIVES: None Page 1 of 2 Finance Advisory Committee Executive Summary for Budget Year 2013 -2014 This Executive Summary covers the efforts undertaken by the Boynton Beach Financial Advisory Committee to support the budget fiscal year 2013 -14. This is the third year of the Committee's existence. The attached report provides recommendations and data that should prove useful to the Commissioners as they undertake a more challenging effort of creating the FY 2013 -14 budgets for the City of Boynton Beach. The volunteers who make up this Committee put in many hours of effort researching and reporting on the topics chosen by the Commission to help the Commissioners in their task of developing a next year's budget. The support of City Staff, especially Barry Atwood and Tim Howard, were instrumental in the Committee's accomplishments. The Committee began last year with a list . of topics for review that contained 14 subjects. The topics were a collection of items where revenue could be increased or costs reduced and were suggested by City Staff or Committee members. The Commission requested that the Committee focus on four topics this year; Make or Buy Other City services, Property /Casualty Insurance Costs, Pension Plans and Intercity Comparison of Benefits and Development Fees and comparison to Other Cities. The results are given to the Commissioners in this report for consideration during the Commission's upcoming annual budget workshops. In addition to these topics, the results of the Annual Citizen's Survey is included. Compared to last year's turbulence, membership of the Committee was relatively stable this year. In September, when the Committee began its effort for the FY 2013 -14 budget year, there was no Vice- Chair, no alternates and there was one opening for a regular member. Last year a total of five (5) members left the Committee for various reasons (all matter of public record) with only one addition. This year two members dropped off, two more were added and two meetings had to be cancelled for lack of a quorum. Also this year, an amendment was made to the authorizing ordinance which facilitated the appointment of a Vice Chair. The following table summarizes the topics studied, the resulting recommendation, the Committee's vote results, and the potential impact on the budget for FY 2012 -13 that totals $6.4 million for the General Fund and $8.1 million for all funds. Page 2 of 2 Finance Advisory Committee Executive Summary for Budget Year 2012 -2013 The recommendation number and topic below refer to the reference item at the bottom left side of each of the following FY 2012 -2013 Budget Recommendation pages. No. Topic FAC Vote Results Recommendation Impact; Impact, All member For /Against General Funds Fund 1 City Services Don 4/0 Consider citizen's TBD TBD Citizen Survey Scantlan opinions 5 Make /Buy Solid Jeff Grady 4/1 Develop a plan for $20 -70K to TBD Waste Collection residential and develop RFP commercial solid waste collection using contracted or franchised services. 7 Property /Casualty Don 3/1 A. Annual Risk TBD TBD Insurance Costs Scantian Management Review. B. Include access to League of Cities in RFP /Qs C. Recognize g Pamela Webb as special asset for city. 9 Pension Plans Steven 5/0 Switch to FRS for all TBD TBD Grant city employees 12 Development Fakhry (Ed) 4/0 Raise development TBD TBD Fees Boulos fees { Boynton Beach Financial Advisory Committee FY 2013 -2014 Budget Recommendation Sublect/Topic: Annual Citizen's Survey Reviewed Bv: Don Scantlan Recommendation (Specific Action Recommended): The Citizen's Survey is conducted to provide the City leaders with another data point to consider when making resource allocations and budget decisions. There were 155 respondents who agreed to the privacy policy and were allowed to answer the questions (not agreeing with the privacy policy prevents the respondent from continuing by the software). The sample size of 155 is considered statistically significant for Boynton's population of 18YO and over of 55,067 (per 2010 census) at a 95% confidence level with a confidence interval of +/- 7.9. Not all respondents answered all of the questions; therefore, the actual confidence level and interval of each specific question will vary. This year a narrative response was allowed on three questions as a technique to collect more citizens' opinions, than allowed by a closed question technique. I conducted a categorical analysis of the narrative responses to assist the leadership in reviewing the responses. The specific responses and the categorical analysis are attached to this recommendation as an executive summary of those responses. Pros of Recommendation: Use of the data in the survey should increase the likelihood that the Commission is making its budget decisions in Tine with the desires of their constituents. Cons of Recommendation: While the sample size does represent a statistically significant representation of the adult population of Boynton Beach, a larger sample size would allow a higher degree of confidence in the outcomes. Also, there were three narrative responses allowed this year, Questions 9, 11 and 21, Their responses are organiz3d into categories in the analysis that follows this recommendation page. References (Staff. Documents, and Public): Impact on 2013/14 Budget: Depends upon actions taken by the Commission during budget and policy decisions. Impact on Out Year Budgets: Depends upon actions taken by the Commission during budget and policy decisions. Impact on Citizens: Depends upon actions taken by the Commission during budget and policy decisions. Impact on Citv Staff: Depends upon actions taken by the Commission during budget and policy decisions. Committee Vote Result: For: _4 0_ Executive Summary of Annual Citizen's Survey Questions 1 &2. Agree to Privacy Policy. The respondent must agree to the privacy policy in order to continue with the survey. There are two questions, because, they are asked once, then if they say no they are asked again to see if they want to agree with the policy or leave the survey. If they answer the second question no, they are exited from the survey. If they answer yes, they are allowed to proceed. Question 3. Residence /Business status. 73.6% (106) respondents maintain a residence in Boynton Beach. 16% (23) owned AND operated a business in Boynton Beach. 6.3% owned a business in Boynton Beach, but, do not have a residence here and 4.2% (6) had neither a business or residence in Boynton Beach. Question 4. Years of residence. Most people (133) skipped this question (it was only available to those who answered that they both owned a business and maintained a residence in Boynton Beach). Of those that answered the biggest category (39.1 %) was Tess than 5 years. Question 5. Years of business operation. Most people (133) skipped this question (it was only available to those who answered that they both owned a business and maintained a residence in Boynton Beach). Of those that answered, the biggest category (56.5 %) was less than 5 years. Question 6. Years of residence. Available to those answered Q3 with option 2 (residence /no business). Less than 5 years was the largest category (27.6%). Three of the remaining four categories were relatively close to 20% and the category 16 -20 years was the smallest at 14.3%. Question 7. Years of business operation. Available to all regardless of how they answered Q3. Only 9 people answered this question. Less than 10 years (combination of two 5 -year categories accounted for 2/3 of the answers. Question 8. Your District. Districts 3 had the most respondents with 49.2%.. District 2 had the least again this year with 14.3% (but was within 2 responses of district 1). • Question 9. Your factor to reside /own business in Boynton Beach. 86.1% (106) listed Public Safety as Very or Extremely Important. The lowest response for extremely important was (again this year) cultural factors (which also had the lowest rating average). The highest response for unimportant was Schools. This question had allowed a narrative response. The responses are categorized in the categorical analysis that follows. Question 10. Options to reduce deficit. 44.8% chose combination of eliminating services and raising property taxes and fees. Question 11. Which General Fund services would you eliminate or cut? 48.9% said to reduce library hours. Approximately one third of respondents selected; Close one or more parks or recreation centers and eliminate median landscaping. It should be noted that in the narrative responses allowed to question 11, several respondents said reduce waste /improved efficiency should have been a choice. I recommend that when the survey is done next year that a narrative question ask residents where they think the waste exists. Question 12. Police coverage /response time. 64.8% (68)selected increase property taxes. Last year this question was a near tie within the margin of error of the survey. This year a definite preference is shown in the answers with almost 2/3 preferring increase taxes over reduced coverage. Question 13. Fire assessment increase. This year answers showed a slight preference for an increase in the assessment over reduction of services. Last year was an absolute tie (50 %) for both yes /no. Question 14. Raising taxes /fees. Raising fines (77.7 %) closely followed by rentals (65.7 %) were the top Strongly agree /agree responses with Business tax receipt (26.61 %) getting the most that disagreed /strongly disagreed. Question 15. Would you agree to increase in revenues limited to same as cost of living increase? Over 2/3 (70.5 %) of the respondents would agree to revenue increases up to the cost of living increase. Question 16. Support for School House Museum. ' 57.1% of respondents did not support the city's current support for the School House Museum at the current level. Question 17. (Respondent characteristic question) Age ranges 25 -44 and 45 -64 were tied with 50 count each. Question 18. (Respondent characteristic question) Family income: range of over $100K was selected by 30.5% of the respondents with $50 -74K next most with 25.7 %. The smallest category was below $30K with 4.8 %. Question 19. Your name and address: 23 persons chose to provide their name and address. Question 20. Would you like a copy of the final report? 35 persons provided email addresses and requested copies of the final survey report. Question 21. What suggestions would you have to help close any projected General Fund budget gap? This question had allowed a narrative response. The responses are categorized in the categorical analysis that follows. Categorical analysis of Narrative responses to Questions 9, 11, and 21. I summarized the responses into general categories. The "Other" category was used for responses that did not answer the question. Question 9. Why locate in Boynton? Location -3 (hospital, beaches, relatives) Public Safety Low taxes Entertainment History/historic buildings Home prices Other -3 l Question 11. What to eliminate or cut? Police -2 Fire -4 _ Line by line review of department budgets /requirements Eliminate corruption Eliminate curb side recycling Reduced landscaping -2 Reduced art-2 Reduce events -2 Reduced Parks /recreation Reduce public works /maintenance /equipment Reduced street lighting 1 Waste /redundancies (increased efficiencies) Sell unused real estate Contract solid waste Reduce overtime Reduce commissioners pay Change employees to 401K Other -5 Question 21. Suggestion to reduce budget gap? Increase gasoline tax Raise taxes/ franchise fees -2 Line by line budget review (in public) -3 Reduce school house museum support Increase CRA and community events Close CRA offices Reduce city employee benefits -3, (eliminate DROP, change to 401K) Lower restrictions on business /economic development Reduce waste in operations Reduce downtown development efforts Sell land owned by city /CRA Fire dept to County-2 Reduce landscaping -2 Reduce size of city staff Increase use of renewable /recycled energy Eliminate curb side recycling Eliminate funding to support old high school Once a week trash pick -up Other -4 Page 1 of 1 Boynton Beach Financial Advisory Committee FY 2013 -2014 Budget Recommendation Subject/Topic: Make /Buy Solid Waste Collection Reviewed By: Jeff Grady Recommendation (Specific Action Recommended): Develop a potential plan for residential and commercial solid waste collection using contracted or franchised services for all solid waste collections within the city. Pros of Recommendation: There is a potential reduction of operating costs for solid waste collection of more than 2 million dollars. Future collection fleet replacements could also be avoided. Cons of Recommendation: This City would lose control of the daily operations of solid waste collections and would rely on contract management to oversee the services. References (Staff, Documents, and Public): Angerer, D. (2011). Should Your City Consider Privatization? University of Tennessee Municipal Technical Advisory Service. Levin, J., & Tadelis, S. (2008). Contracting for Government Services: Theory and Evidence from US Cities. Berkeley: Stanford University & University of California Berkeley. National Solid Waste Management Association. (2013). Privatization: Saving Money, Maximizing Efficiency. Washington. http://www.boynton-beach.org/departments/solid_waste/index.php http://www.fresno.gov/NR/rdonlyres/1D172901-EF55-4840-B5A4- E546A96445 F3/26611/FY2013 M idYea rU pdate_Fi na I.pdf http://www.keywestcity.com/egov/documents/1345470842_715881.pdf http://www.gfoa.org/downloads/GFRAug04.pdf http: / /www.environmenta listseveryd ay.org /solid- waste - management /privatization- saving - money- maximizing- efficiency /index.php Impact on 2013/2014 Budget: Cost estimate of $20,000 to $70,000 to develop RFP meeting service needs and regulatory requirements. Impact on Citizens: Change of same services from city branded to commercially branded Impact on Staff: 32 field employees would need reassignment, retraining, placement, or other assistance. Committee Vote Result: For: _ Against: _ Boynton Beach Financial Advisory Committee FY 2013 -2014 Budget Recommendation Subject /Topic: Property /Casualty insurance costs Reviewed Bv: Don Scantlan Recommendation (Specific Action Recommended): A. As part of the annual budget workshops, conduct a Risk Management review of all policies and establish a Commission strategy for Risk Management. B. In all future RFP /Q require that respondents be able to get quotes from League of Cities. C. Recognize the special asset that the city has in Pamela Webb. Pros of Recommendation: A. The establishment of Risk Management strategies and policies can have a significant impact on city resources. The point at which the city assumes itself or pays to share risk is a quintessential policy decision. This policy decision (risk management strategy) could warrant an workshop all of its own, however, I think having a discussion of risk management strategies as part of the annual budget workshop could suffice and would be a great improvement over past practices. Requiring. B. The League of Cities has risk management services that are specific to the unique situations of municipalities. C. Retaining high performing staff can ensure the city performs its services and duties in an efficient and effective manner. Cons of Recommendation: A. Risk Management Strategy is a complex topic. Its discussion at the annual budget workshop could put pressure on other agenda items. B. Placing this requirement in future RFP /Qs could reduce the pool of eligible respondents. However, not being able to get quotes from League of Cities for Risk Management products and services also reduces the pool of available quotes. C. I see no negative effect of recognizing well performing staff. References (Staff, Documents, and Public): I' did a phone interview with Frank Babbon, the Risk Manager for Delray Beach. I reviewed the Lake Worth Request for Proposals (RFP#11 -12 -213) for Property; Inland Marine; Boiler & Machinery; Crime; Public Official Liability; Excess Automobile Liability; Excess General Liability; Excess Worker's Compensation. I conducted an in- person interview with City Staff: Pamela Web, Julie Oldbury and Tim Howard. Impact on 2013/14 Budget: Depending upon the Risk Management strategy chosen by the Commission and upon future events, hundreds of thousands of dollars could be saved each year by raising deductibles, eliminating coverage (which also increases risk of future costs). Impact on Out Year Budgets: Depending upon the Risk Management strategy chosen by the Commission and upon future events, hundreds of thousands of dollars could be saved each year by raising deductibles, eliminating coverage (which also increases risk of future costs). Impact on Citizens: Depending upon the Risk Management strategies chosen by the Commission and upon future events property tax rates could be reduced or increased. Impact on Clty Staff: Except recommendation C, there is no impact on City Staff. Committee Vote Result: For: _3_ Against: _1_ Boynton Beach Financial AdAsopy Commttike FY 2013-2014 Biudgat Recommendation pie: Pension Plans— Intercity Cornparisori of Benefits Retylo.__LwLwi Steven Grant RecOrnmepthtdpv retornmend that the City Commi3sion enroll all futuna employe% (General EalpiVyZeS, Fire, Police) hi the Florida Retirement System , (FRS). Be;AltrtneienOgioirg Decreas oynton Beach's and Employees contribution t) the: currant pension plan. The decrease will teat in rrioye funds being avaliable for the budget and ernploveez. The rIn h tv employee.s the optiori of a defined-benefh plan and tleflneci contribution plan with the orte-fiirrie option to transfer to the other plan, Current ei can still maintain their defined benefit plan. May result in other FRS pensioners to core to o'yriton eeach w work. Comp la Recommendation: The FRS contains a 'State !eziMative risk; where the decision of the contribution rate and other benefits Is left up to legisiator.s. fieynton Beach'• current contribution may go up in future • years bciforr.: it starts to go down to over current empiovets. General Eniploiret:s Mil receive. a lower multiplier. CitEROS a diSCiriction between ernp.16ye.es (Old Pension system and FRS). May result in employees trans to other FRS positions. neferenoes Atgff,jk Spoke with Ft15 enrollment adminiotrator; Spoke with Police; research the FRS website and studies done about F. 2012 Actuarial Valuations for Boynton Ber_ach employees. krtmot on argaixl auttg; Lt e to none, this will only effeet future employees and ernOloyees who wish to trantifer. 1m_ _pact ys.vr _to:0z: As lags money is put iri from neNir workers, the c:.)ki pension plan may need greate,r contrZution percent from Boynton Beech to pay out on the pension ilabliftlez. However, new emplovees that eriter the FRS plan wiii likely require less of a contribution from Boynton Beach. Irapicisti) gfri'zerli: No immediate impact. C. Current iitaff 'may have the option to switch pignt to the FRS: Future staff will have different benefits then older staff. Committes Vote:liesult: For: 5 Against: _a_ Mae vr,Pkvertr tits tr Cf 0. :CEVIOYnt4A trAl than: Li i Cornmii try !it AC Fir cortigKir t er7C ,. .... .,,, ,7 .,,, " • ::',. ,./C, PAL" . • .. / . ,. ',. .. . ..i. • ", , i: ....". , • , „ .. , .. . , , ,..:• : ....... "1 : ° i • , ' . - ,.. ...... - 7. !,:" , :.'/,' — ,..., '''... ,,, ;45, ,, .,,,, . . . . ..0 , .,. . . , . . •,. .. ... , ii (., ,,w-ri, in ., Lowly ...• . ,,, I- ; - -. •,-..,.. .1. ; - • -,..„•- „ .,,',.;:;,„:. -., ,- 4 . .:-.- ,, i.... - .-. --:,- - ..- „:-' ,, i'i- - '4.,, , , , .. „ ,.,„ : .:...-,, , .: - ; Plan Overview FRS inVestrherlt PlbrA cis Oensioti Plitt Witt) contributes YOut F.R.Scovere e employer pl Your FRS -toi,ered orepioyer ;Ind how rrittcii! utie nt)Ority of your ro...S'rturt,:tient brevities: the niainriv of yotir FRS plan contribiition Laid 011 4 fixed tecireriienr. Fil;en contribution based poicen:zige of yottr. grCsi...5 .s.f*J;h*:,0 (total Gm a fixeci,perceimage Of your gri"....7.5 erripltiyee,and_ employer rare is 6.3% S:.:44try as deteenitned by tile tillit'e :kr Ragutar Clam e .A legislature. .4 mandatOry 3% pre_rax nialstiatcgy 3% ont.ra): trItictiht I tor, tontrbtioci:i e dedtAttci:l from your fs deducted frornyour pe)Ttiocil and payr;ittick and depo5ited into. she deposited irito:your retinert)ent aceeftrnt. Pelision'Pian ;..r U$1 lurid. Where are the Into ati intActsttnerit account ft IS Irtto a stogie F'11110/,'1 It'l.tq (Wild monthly orArttribii. established in your riartic by the FRS. for-cll FRS Pension Plan metobers.. tions - deposited? • 'tArlin invests th e 'You can eject ilv." toallocate your The State Board.of Acitysinistration . money? atvount balance arncing the rends of Florida elanagbi the Pension ly■-okble to if wastinanE Plan '',.J:trCiepant.t. FIP.ro IrUst fund for all FftS-eoverecl Yhtu are respeinf,i'We for rnanaging ernployees. ItiYosonerir results Jr ' account and. can change your invvirtilent not ;iffect benefits, eleet?r....:er zit any tinie., Investment results ;44 airect your hiettfit. When am I vested After I . year of l'A.S service Yttu "Afe.r 8 year-s' of FRS t Itt .., ' in to hattelit? are always fully vectod in your own are always fully vested it Yyottr oviti contributions, - as long -as. you remain in tontributionl, as (*fig al you ri>rtir.iri the inYeltment Flail.; in the Penvort Plan. ‘Vrtiat if 1 change lf you go 10 Work (or Ao9 FP.-S I( you go to 'Hurl: for ;mot t)er FRS- jobs after vestitig? co ofiTtirloyer. you will reraiain coviered ernpit.iyer. your Pension tirarolled in the Invettintrit Flee, and Filoe.bett MI grow. , contrii)utions will condon to be matie if you g o to work for a nori.FR.S= to yOUritecount. I( )ott lotave r RS- covore.d ettiployer. your Pension cuvored ontp/oxntetit. ytiii have til.; Flan benefit will be frozen until optioti of: you either begiu receiving month)). Leaving your money i nu: Plan,' ratiremtnt benefit's or return to OF( F1-ctvv43-red emplortiorit Tthkeng a distribition and rotirizig.* I ' 11 Yr? 114 t I V.f ' r 6i i'^' ! ' Plan U Vi4/ to /oli I. 1t)I I. iou itti, tliv .r3iirg, If r.11 icon i ?, n Pi ol vf wit:, jillr um, ;btl i..i0f4 r .,,,i, , ,, l'ueitt 11;4,i:reit, lue 4 rt Vidbilli ta f rtairii. . ' R-4/..,yii.,i crieplapr-rewewrier. IR rtif. f;::: lei !...1.1rttivol.r. to )1, oppoes f., k prt t, h.: iro. r lar 41 )at: i tl/r7:41 1" Eftrtise L i a - 1 a i ' l l i i in d e kw:. Ycli Li/ rill tiv iltili,thkirinai ra!',4intr tea 21 i.stict469317, i flitticot 4 ici 'ofizootists. 1 Atiotet RiaiiiteA)ria /tot i.f 16. iin qtrrin ray 7pply.f.t=tteibtiv,ii needier ef IL r irsttie lehrei is SI. .(i;rr, ir leil. ' ritt-eittfoxtitm , illt't tvitsi :il r;1411,,, rgt. !II La .1,,,I.I.L rtotititt ;PAT APP41 r ' N ri i)../.4 .1r/M linfih Llit111/21 M. nlatr4F,/. / / i 1 " ' `..°1:11 ' " , ••, Cp, .s • • ' - aro , rypit.,444,1401. an Overview FRS ittkVsittlicitt Plan FRS Pension Platt Can I switch 'Plans Ye.s. You hava-_ a one-tone 2 tion that you can we during your FRS afte make. my ltreor t© c,oiltet-A rhe °tor FR4 retirement plan. provAded you-are activelF ell'i 8111 0 0 Y 1 cilb;" "'Jr) FR -ter?ured f2mpioyer and cardirig retirement service 1nr yntir election flow dims witir iinv.astment Plan benefit. should The Pensitin Plan benefit grows henofitiaccount elaftirrediatt steadily over ;iron. r-loerly 4t arid then, because learer tie:tplte glom:tern; ups and the Pensaon Pbn rorrreala is based downe in the market Your benafir on tine average'of your h.gitact ultirriatOy nri how wtli yeam or pay and total yeir:. of you mange your etc-Jaunt-Anti cn tresh(able sets-Ake:it takes a the % return': earnetl,on steitp climb near retiremUnt af,e contributiont. ln the early yeari A 33.-year employee voll earn tatymir ffil-S "log or oui over .50% of their benefit n he benefit tome% from the cc:In List 1 r) years tar tneir FRS cartel, ;tons paln h re AcrOiJni..Dier thni the ;'nvestrnent earnAngs mar account lac' . iat-gtic por di your account. balance. How is my Your retirement benern kr, bated cn Your retirement btmetit it a retirffroent bandit your ccount baiance. A-clack ! op or: guaranteen benefit based rin calculated? frArrnnlu that Incltide; your:' Employerran4 embloyee ceattribntiatts to your Atcovni. FRS taernbecship clam Pitts or miiriocintia,.isttrwnt (r.f,,,fugabt tiatd fihk returns (gains aniPlost ea), Class; cit.). Miritts anti fees. • Yuall; Or s&vice. An aver-ago of your highe.sr. years" of said!): ' liptt Jr?: rittiftr, M'phirt: !us, Irratv pow liOr 9,101 ,n;.04.,ter z Mit; tf r,,, bat Zr NOR jitejlt :1.1N) rn 1 'tint F2,1,t • •:,;„ ° " . °.*.° °;°. .„' t , . , Wir4tfintr-Wae, = • ' • a a ", • •° °A. - ":"rlrif t/PV1` 44 " Plan Overvietv FRS Itlyestrnent Plan FRS Peusiort Plari iiow is my Flexible clistriburio,ri cintirms- arr,- .GL/ZrAfrr.•-.!firurintitly rheres foe benefit paid at available. As long as you, hal:ince is iirt. Cora-ol-liswg ustmer retieetnerit? more than $ S)00, you can: applied ti? the portion of your Leave your money in rhe Platt benefit that If, ba3ird ors semocc Ihn you onnot until age 70;,"2„ when mandatory earned prior to july f 7011. ittr'rve A eiltiliPoi+64 distributions begin. You chitiose oiryout options Palm y DU initl Purchase "Pis rhat that provide cernirltred twron[hlY 1 frGIn I provides guaranteed Monthly payintints to.your stirtrivinF, raitred rrapieyrater, payments for life using all or beneficiary4oli"rt annm, parr of your ulit 'balance_ Surviving benefit racy and ,cost- o(vfrig adjuttrneor options ;ire available- Re'celVe.periodic distributronr...' Ele'cr lump sum viber: you retire, or avany (inure date oflJr overinto thc- quu lifred retiretnent plan. Doe ths Plan Y. including erts befit:fits and Yes„, including DROP,' disaniery provide other •retiree blealtti irisneance Subsidy benefit& and retiree Ilicalth beriefit? (HIS) payments. inturance Subsidy (HIS) payments. Cr furore fund- Pensioet, Mari uritictinorilrig or- 'Yes. As of the Itily 2.0 I I valuation., ing increases. future cost increase.s to fund the the Pension Plan li,ad actuarial asstrts of I 26. nd acid-aria] impact future FRS may make It necessary for tnntr an d Florida L bturt ro Ity,iier the liabititie,1 of $J44, I bIflw resultirig arritrunt tbat tr.rripinyeiT, contribute in a, Plan funding level of 87,54S. benefit levaln? to Inve.suramr Phn mei-tabors' During years,vtlien the Pension accounts or to int the amount Plan fs doter-rt.:ivied w be loss than that employe, contribute to their I 005`e actuarial)) funded, this Investment Plan at COLintN. Florida Legislature triay take steps to improve the funding Jay& by ncrrafr erribloyee or employer contributions or to lower Plan costs try rrulucing ftitirri' Peurion Pfau benefitz, 1,112 r-Ls' :-.` tt5A ' . In n') !`"i,'•1 ;t1 1 1 i ? 1 1 i I l i 1 J W f.A# i L :).1 b Z:'i b bi b tit b ci k.-D ca 47..) c -,....1 c) o Q 1 . Boynton Beach Police VE172 %: .7 ".Sii;1 7 -- -. :MIT:z-Zi - BID" ntcin Beach Fire Boynton :Beach GE Boynton bead Elec Officials FairriX. el 1 3o 1,..•;a, Raton [ 4.< c 1 ,,,,vai- et- C") Cp4 al s ile,:s Police, raTazz;z2D,2,;:zts ITILL.:.:!,„! 0 Z.: it. i ) , : , i r ay B e a t h Pol ice/Fir e taltztri:::r.: ,:l., ,- ..., 0 70 :-..-.. tiollywobti Miramar *Polio eriprzi - •r--v q7; Cr 0 .., Naple tPVLVI,‘; .i.iwitilfal C = 0 0 N aples Police 6 - -,!Sik'P L. 0 -41 ...., New Smyrna F3each tp " . < e t , 70 C it Oaklanc,,Park giaMic ,0 0, 307 :: c Pafrn Biaach soFilti .-r,':J?;7--. WM q . , • , , . , , , , Cr 1: rnp a n o Beach . rr ''''•,-, ' s' ' ..-, co •,i I) ti rrf pa n 0. Beach Fir . 4! '-,..- -i' --w 'iiZew,,-r-z-,,, .-1 ::.., 0.) ‘Nest Palm Beach Fire = CL Wes C P E I rn Beach Police FRS GE- 1-1 Police F R5 Fit co Current Contribution Rates and Multiplier vs. FRS , t ..P...,' A 4 45% 3.5 40% 7,i .., 35% 30% 2.5 25% : . 2 20% 1.5 15% . 10% n i 0.5 . . EU' ..„R' Boynton Boynton Boynton Boynton F115 E FRS'olice FRS Fire Beach Rolice Beach Pre Beach GE Beach Elected Offitia Is Employee Contribution ,7;i....,. Employer Contribution Total COntribution Multiplier BayrIton 3th Finandal t-xivisory commitie FY 2013-2614 Budget Recommendation subject oevelpmenini fet34,comparison to other aides Risvinv.K.11:1 y fakhry (ED) Dou lee ReconvearKtams : Rcs acaesaed Wry bizar.4BrazzackiSa6 evident Ble &Au 144 ftwi cj ttrzy be able 113 increa:riie. Ws fees mexma incretoecla3..1..a and Ea tine abor OW* ddso by Pe= 4' repteranerkteraidtfrtetrie feas ammtle1 eitaltr.Ve. Twit* fr deortrnen1 of devaelopivialt dparaliv figitigat aarz. rgat Pakr.1111 attiaes .aiv4ilixi al la fied;W_augge,.. that iluipaat Fee int:MOUS 4 ialltding copitekStiOn by ;Dt 0=$1.24. References Boynton heath Mart DMray boath Vier &ta ratan staff Published fess acilerldes end regillardene impectfeas.wit impact fees in fleritie GrageryBerge National i?rt.1 len survey 2012 Irripa0. on 2013/2014 budget Fay:rabic Irweat ort cititee rg; Uty dovat'apqresn.Wle4-4-zrap..went thi HALF of tha fatal fees for a new aiineAt cinht e% a the i bt the city 'fees 211XiSit 3% 0? ttPtT, triZfctWtrz shotAd irscittes :3 building capitalized opals. impact on staff Recover costs /maintain staff Committee Vote Result: For:L 4 Against: 0 1 Pr y Devalcorttental Fe Comparisons A typir.*1 $85 k permit %talkie mew,singie t-4-Irrigy 1gy,!ra-65,-ae..; Oki hay Dm Anton cszieltkited cmfmaiWd Perngs 1 IMO 2003 pcnn;is fer suigi 1760 Pat 437 5a13 par& walcs nniFew 6710 6 p APPIOVEI 1400 1.000 p;atsr2Attlr. 557 creci 1.■mUr 2fl20 12C0 5200 .selter 'MU 1114`0D 4170 deCtic 750 125 625 — Paspesgme 1200- Tctial dry' reeig (nyuart6els 6100 7900 i 5CiO Ye:A ro-afay 7400 TT:1W vtaft • Tortreaia 0 Cif c g C 0 d �,^^ �. _ J .Q LO S o w T 0 g . to 4D + . .3 5 -3 ytf 0 �` 0 ii.` r AA A n ex In r. a u 1 k , P - do 15 s s. ,i; _ =. � : 5:1: td 'd [7� al w •-• fP. i r t� 9 F r+ " c, NS ti « r7 0 0 _ t '? P. 7 Regulars - 2 Alternates Established per Ordinance No. 10 -009 Three -year terms for Regulars One -year terms for Alternates 2014 FINANCIAL ADVISORY COMMITTEE MEMBER EXPIRES PHONE PROFESSION (8) BOULOS, Fakhry 06/15 509 -6257 Gen. Mngr. 1809 Coastal Bay Blvd. Appt'd 2/19/13 boulos1809(gmail.com ( 33435) OPEN 06/16 OPEN 06/14 (7) GRANT, Steven, Chair 06/15 561- 880 -5529 Attorney 136 NE 3 Avenue Appt'd 6/19/12 grantlegalflna.gmail.com (33435) STELLA, Christine 06/14 (917) 392 -7994 Finance Director 3712 Diane Drive (33435) Appt'd 2/04/14 christine.stella (9) SCHLESSELMAN, Dolores 06/16 699 - 3275 Banker 710 SW 27 Terrace Appt'd 4/16/13 Iorisletterbox (33435) YANKOVICH, David 06/16 577 -6134 Mngr of Grants 1660 Renaissance Commons Appt'd 6/17/14 dvankovich1 & Gov. Rel. Blvd #2520 (33436) ALTERNATES: OPEN 06/14 OPEN 06/14 CITY EMPLOYEE REPRESENTATIVE: Tim Howard, Finance Director 742 -6310 Lori LaVerriere, City Manager 742 -6013 (Back -up) At Least 5 regular members shall have one of the following qualifications: 1) Certified Public Accountant 2) Accounting Professional 3) Auditing 4) Certified Financial Planner 5) Investment Advisor 6) Insurance Professional (property /casualty or health) 7) Business Owner /Manager 8) MBA or MPA degree (with high levels of accountability /responsibilities with budget and organization oversight) 9) Banking 10) Pension Plan Management 11) Financial Planning & Management 12) Remaining four members may be at large Updated: 07/1/14 S: \CC \WP \BOARDS \LISTS \2014 Board Lists \FINANCIAL ADVISORY COMMITTEE.doc Howard, Tim From: Jeff Grady <jeff @leadmemedia.com> Sent: Friday, June 06, 2014 1:57 PM To: Howard, Tim Subject: RE: Agenda for Monday, May 12, 2014 The list of vacant lots I was assigned and looked at are mostly small portions such as might be easements and such. I have no recommendations other than to continue a good maintenance program to promote a good appearance. (Already maintained and does not need a formal recommendation) One lot is a large lot that is being considered for city infrastructure development. (Near new Quantum fire station) The old landfill is not adjacent with the city so harvesting solar electric is too challenging at this juncture. Thank for your dedicated support of the committee. Jeff From: Howard, Tim [mailto:HowardT @ bbfl.us] Sent: Thursday, June 05, 2014 5:03 PM To: Jeff Grady Subject: RE: Agenda for Monday, May 12, 2014 Jeff, thank you. You can send your notice to the City Clerk, Janet Prainito prainitoi @bbfl.us thanks again tim © -- — — Tim Howard, Director of Financial Services Financial Services City of Boynton Beach 100 E. Boynton Beach Blvd. 1 Boynton Beach, Florida 33435 o: 561- 742 -6311 HowardT @bbfl.us 1 www.boynton- beach.org America's Gateway to the Gulfstream Please be advised that Florida has a broad public records law and all correspondence to me via email may be subject to disclosure. Under Florida records law, email addresses are public records. Therefore, your e-mail communication and your e-mail address may be subject to public disclosure. 1 CITY OF BOYNTON BEACH Financial Advisory Committee - Study and Assignment Areas FY 2014 -15 Item Issue Department Contact Area Assignment # Initial I Follow Up 1 City Services Survey City Mgr /Eleanor KruseII /Scott Kline 2 Review Vacant Bldg /Land and their potenital uses Public Works - Jeff Livergood 3 Evaluate Alternative Energy Sources for Bldgs and funding City Manager /Carisse LeJeune Analysis of Residential vs Commercial Tax base including resident property taxes as percentabge of per capita 4 income, compare to surrounding cities Budget - County Property Appraiser Viability of establishing non - profit organization to act as Commission umbrella organization for small and short lived community suggested 5 organizations. topic S: \Finance \Financial Advisory Committee \Work Area Topics - Assignments\ / FAC Study Topics for FY 2014 -15 Budget (01 -09 -14 Revision).xls / 1 s B52P 48 C ® ! n p i a a a a a m a m n m ® a soulxanxcnaucW � 1 _ a , s H II II S a a n H 9 a v a a a n a a am p � LW.7h a a m a aaa u a ° l a ■ m f` mm m m a a x u a a ss Blvd sW_Congress as a , u f a a ® mn a: , H IIasHa an a a m B52PO84 B4 am / a s B05 - P073 a. v i 11 a ffi+ Ya - — amaa aaa n Hna IIa Hmusa B99P.165 �B 8P0 3 — a WW am fm m rfTr a s , 38P063 }a e I ll B50P003 3 a s a s 1 1 z a 5710 6, 1 mf sl a IIss , f a� n cmf , o f a a mu a 1 QUAIL RUN B40PO47