CERTIFIED - City of Deltona, Florida

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Budget Summary - Narrative City of Deltona, Florida SPECIAL ASSESSMENTS – Continued $6.5 million for improvements to the stormwater system. The annual costs to operate, maintain, improve, and provide for renewal & replacement of the current system is estimated to average approximately $4.6 million annually for the next five years. Over $6.0 million is budgeted for stormwater capital improvements in FY 10/11 which is primarily the proceeds from the loan obtained in FY 08/09. This annual figure includes debt service on the new loan referred to above. The solid waste assessment rate on all residential properties located within the City did not experience an increase for this budget year. The assessment rate is $132 annually for solid waste management services and is budgeted to generate $4.2 million in FY 10/11. The streetlighting assessments were reduced slightly in most districts in order to more accurately reflect actual charges incurred by Progress Energy. A detailed five year analysis of all streetlighting districts is expected to be conducted in FY 10/11. The current year revenue of $129,200 offsets the actual expenditures charged by the electric company in addition to a small administrative fee charged by the City. IMPACT FEES The City currently charges impact fees for growth-related capital improvements for fire protection/rescue, parks/recreation, law enforcement, transportation, and Enterprise Funds (utility). In an effort to promote commercial economic growth in the City, a moratorium was placed on fire protection/rescue, law enforcement and transportation commercial impact fees on April 1, 2009. However, the moratorium did not have the desired effect and the moratorium was lifted effective April 1, 2010. FY 10/11 budgeted revenues for all impact fees are minimal as economic recovery has not yet begun in the City. Impact fees are designed to cover the cost of capital improvements necessitated by new development. The fees provide one way to ensure existing residents will not bear the cost of new facilities necessitated by the demand generated from new residents. Since the existing residents have either paid for or committed themselves to pay for the capital facilities already in place, the logic of impact fees anticipates that each unit of new growth would pay its fair share of new infrastructure. INTEREST INCOME The City maintains a pooled cash and investment fund for substantially all City deposits and investments. This gives the City the ability to invest large amounts of idle cash for short periods of time and to maximize earnings potential. The City’s investment policy places the highest priority on the safety of principal and maintenance of adequate liquidity to meet current needs, with the optimization of investment returns being secondary to the requirements for safety and liquidity. Cash temporarily idle during the year is invested primarily in money market funds although when cash balances are ample, some funds are invested in longer term Federal Agency Coupon Securities. In all cases only investments carrying the highest credit quality rating are used. An automatic sweep investment service is maintained on the City’s operating account. This settles daily business transactions against an AAA rated institutional money market account so that excess funds held for operations are continually invested. Interest income is down from the prior budget as interest rates continue to decline. 10/11 Annual Budget 68 Adopted - 9/20/2010
Budget Summary - Narrative City of Deltona, Florida MISCELLANEOUS REVENUES Miscellaneous revenues consist of any and all revenue sources not otherwise classified under some other heading. Miscellaneous revenue includes a $498,000 charge from the General Fund to the Stormwater Utility, Solid Waste Management, Local Option Gas Tax, and Streetlighting Districts Funds for administrative charges. The administrative charge covers the expense of management and administration that is directly charged to the General fund (i.e. City Manager, City Attorney, City Engineer, Public Works Director and related support services such as billing and procurement). Also included is $240,000 from rental & lease payments (primarily cell tower leases), $100,000 charge to Deltona Water for “in lieu of property taxes", $413,000 of interest income, and approximately $173,000 of various other miscellaneous revenues. EXPENDITURES BY FUNCTION Analysis of budgeted expenditures for FY 10/11 by function shows appropriated expenditures as follows: 19.7% on Public Safety, 17.3% on Physical Environment, 2.6% on Transportation, 7.7% on Debt Service, 8.1% on General Government, 2.2% on Culture/Recreation, 36.6% on Capital Outlay and 5.7% Economic Environment. CAPITAL IMPROVEMENTS Included in the FY 10/11 budget is $33,906,838 for capital improvements relating to the following functions/services: Municipal Facilities $2,240,000 Sidewalks $676,000 Equipment Replacement $1,208,500 Park Projects $117,500 CDBG $372,707 Stormwater $6,098,000 Transportation $7,745,000 Water/Sewer Utilities $15,449,131 Future operational expenses related to completed capital projects have been addressed in future forecasts of General Fund operating expenditures. The maintenance of stormwater projects has been addressed in a detailed study of stormwater operations and funding. Future operational expenses related to maintaining water/sewer projects have been addressed in future forecasts of Enterprise Funds operating expenditures. Road resurfacing and reconstruction projects should result in future operational costs savings as a result of reduced maintenance activities currently high due to the condition of the City’s road system. 10/11 Annual Budget 69 Adopted - 9/20/2010
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Company LOGO Fire Station 62 Ft. Sm
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Preface City of Deltona, Florida Th
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City of Deltona, Florida 10/11 Annu
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City of Deltona, Florida ENTERPRISE
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General Information City of Deltona
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General Information City of Deltona
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Demographics POPULATION - 2000 69,5
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Demographics City of Deltona, Flori
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Special Revenue Funds City of Delto
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CERTIFIED - City of Deltona, Florida

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