FY 2011-12 Adopted Budget - City of Oviedo

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City of Oviedo Basis of Governmental Finance and Fund Structure Basis of Accounting Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. Basis of accounting also relates to the timing of the m easurements made, regardless of the m easurement focus. The term measurement in this def inition rela tes to the ac - counting of revenues and expenditures and how they are grouped for repor ting in the City’s financial statements. The City of Oviedo m aintains accounting records on a budget basis as well as a GAAP (Generally Accepted A ccounting Principles) basis. For financial reporting purposes (not budgeting itself), governmental funds rely on the m odified accrual basis of accounting whereas proprietary funds use full accrual. Under the modified accrual basis revenues are recogn ized when they are both m easurable and av ailable and expenditu res are recognized when incurred. Under full accrual method revenues are recorded when earned and expenses are reco rded when the liab ility is incurred. Basis of Budgeting Annual budgets are adopted on a basis consistent with U.S. ge nerally accepted accounting principles and the City uses a cash basis for budgeting governmental funds. Annua l appropriated budgets are adopted for the General, Special Revenue, Debt Service and Enterprise F unds. All operating and capital expenditures and revenues are identified in the budgeting process because of the need for appropriation authority. The budget is fully reconciled to the accounting system at the beginning of the fiscal year. A number of GAAP (generally accepted accounting principles) adjustm ents are m ade to reflect balance sheet requirem ents and their effect on the budget. T hese include changes in designations and recognition of accrued liabilities. Am ounts needed for such long term liabilities as future payoff of accum u- lated em ployee vacatio n and sick leave (i.e. compensated absences ) are g enerally not budgeted but are adjusted or reported for the actual amounts incurred as a result of an em - ployee resignation or retirement. Internal Control Structure The internal control structure is designed to provide reasonable, but not absolute, assurance that the governm ent is protected from loss, theft, or misuse and to ensure that ade - quate ac counting da ta is com piled to allow for the preparation of the annual financial statements in confor mity with generally accepted acco unting prin ciples. This concept of reasonable assuranc e recognizes that the costs of a control should not exceed the benefits likely to be der ived and the valuation of cost and benefits require estim ates and judgment by m anagement. The internal control structure is the respon sibility of the Finance Director and City Manager to establish and maintain. Level of Budgetary Control Legal budgetary control is m aintained at the fund level and expenditures m ay not exceed budgeted appropriations at this level. Administrative budgetary control is exercised by the City Manager and Departm ent Directors within funds. The City Manager m ay make transfers of appropriations for operational and personnel expenditures within and between departm ents in the same fund. Transfers of appropriations between funds and transfers exceed ing $25,000 require City Council approval. The City also maintains an encum brance accounting s ystem as one techn ique of acco mplishing b udgetary control. 24
City of Oviedo Fund Categories and Types The City o f Oviedo utilizes funds and account groups, each of which is co nsidered a separate accounting entity, to report its financial position and th e results of its operations. The operations of each fund are accounted for with a separa te se t of self -balancing accounts that com prise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. For budgeting purposes, all of the funds of the City can be divide d into either governmental or proprietary and are summarized as follows: GOVERNMENTAL General Fund The General Fund is the City' s primary operating fund that accounts for all financial resources of the general governm ent that fund except those required to be accounted for in another fund. The majority of current operating expenditures for the traditional municipal services of the City o ther than pr oprietary fund activities are fina nced through revenues received by the General Fund. Special Revenue Funds Special Rev enue Funds account for specific revenue sources that are restricted b y law or internal ad ministrative action for specific purposes. S pecial revenue funds include the various non-water/sewer Im pact Fee Funds, Local Option Gas Tax Fund, State and Federal Law E nforcement Trust Funds, Grants Fund, Stormwater, and Solid Waste. Debt Service Funds Debt Service Funds account for the accum u- lation of resources for and the paym ent of, principal an d intere st o n certa in lo ng-term debt such as revenue bonds and General Obligation bonds. Capital Project Funds Capital P roject Funds account for financial resources segregated for the acquisition or construction of major capital facilities. Capital projects funds incl ude the Vehicle Replacement Fund, Local Option Sales Tax Construction Fund, Downtown Infrastructure Construction Fund, Technology Im provements Fund, General Facilities Improvements Fund, and the Recreati onal Facilities Im - provements Fund. PROPRIETARY Enterprise Funds The Water and Sewer Util ity Fund is used to account for the City's water and sewer operations, including debt service, capital recovery (impact fees) and capital im provements (renewal and replacement). Internal Service Funds The Medical Insurance Fund is used to account for the City’s health, life and long term disability insurance program . This fund was established to bette r monitor c laim costs f or the City’s self-insured medical insurance program adm inistered by Blue Cross and Blue Shield of Florida. Fiduciary Funds Fiduciary Funds are re ported in the City’s Comprehensive Annual Financial Report (CAFR) but are not adopt ed in the budget. Fiduciary Funds are used to account for resources held for the ben efit of parties outside the governm ent. The accounting used for fiduciary f unds is sim ilar to proprietary funds. Fiduciary funds include pension trust funds for t he Police Officers' Retirem ent Trust Fund and the Fi refighters' Pension Trust Fund that accu mulate reso urces for pension benefit paym ents to the respective qualified public safety employees. 25
Page 1 and 2: City of Oviedo Annual Budget FY 201
Page 3 and 4: CITY OF OVIEDO ANNUAL BUDGET FOR TH
Page 5 and 6: TABLE OF CONTENTS ANNUAL BUDGET Pag
Page 7 and 8: Project Summary and Operating Budge
Page 9 and 10: The City of Oviedo Florida ________
Page 11 and 12: The following “budget highlights
Page 13 and 14: Property Taxes (General Fund) At th
Page 15 and 16: Debt Service and Lease Financing Su
Page 17 and 18: Cash Reserves (Utility Operating Fu
Page 19 and 20: 1 City of Oviedo The City of Oviedo
Page 21 and 22: City of Oviedo Organizational Chart
Page 23 and 24: City of Oviedo Strategic Focus Area
Page 25 and 26: City of Oviedo Continue to up
Page 27 and 28: City of Oviedo Budget and Financial
Page 29 and 30: City of Budget Document Format Ovie
Page 31 and 32: City of Oviedo certain fixed/sem i-
Page 33 and 34: City of Oviedo Budget Development G
Page 35 and 36: City of Oviedo afford the City the
Page 37 and 38: City of Oviedo Interlocal agreement
Page 39 and 40: City of Oviedo Significant Budget A
Page 41: City of Oviedo operating revenues a
Page 45 and 46: TABLE OF CONTENTS BUDGET GRAPHICS P
Page 47 and 48: PROPERTY TAX RATE AND TAXABLE VALUE
Page 49 and 50: Gross Taxable Value Tax Year 2011 a
Page 51 and 52: FY 2011-12 City of Oviedo Property
Page 53 and 54: TOTAL BUDGET SUMMARY AND GRAPHICS B
Page 55 and 56: BUDGET COMPARISON BY APPROPRIATED F
Page 57 and 58: CITY OF OVIEDO, FLORIDA BUDGET SUMM
Page 59 and 60: City of Oviedo FUND BALANCE OVERVIE
Page 61 and 62: FUND BALANCE STATUS BY FUND (Unaudi
Page 63 and 64: POSITION AUTHORIZATION SUMMARY Auth
Page 65 and 66: POSITION AUTHORIZATION SUMMARY FY 0
Page 67 and 68: Composition of Personnel Costs: FY
Page 69 and 70: GENERAL FUND GRAPHICS OVERVIEW FY 2
Page 71 and 72: GENERAL FUND EXPENDITURE SUMMARY FY
Page 73 and 74: City of Oviedo REVENUE TRENDS OVERV
Page 75 and 76: REVENUE TRENDS MAJOR REVENUE SOURCE
Page 77 and 78: Trend↓ REVENUE TRENDS MAJOR REVEN
Page 79 and 80: REVENUE TRENDS MAJOR REVENUE SOURCE
Page 81 and 82: TABLE OF CONTENTS REVENUE AND EXPEN
Page 83 and 84: GENERAL FUND The General Fund accou
Page 85 and 86: General Fund Revenues (001) Beginni
Page 87 and 88: General Fund Revenues (001) 2008-09
Page 89 and 90: General Fund Expenses (001) 2008-09
Page 91 and 92: General Fund Expenses (001) 2008-09
Page 93 and 94:
SPECIAL REVENUE FUNDS Special Reven
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Administrative Facilities Impact Fe
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Police Impact Fee Fund (107) Beginn
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Recreational Impact Fee Fund (109)
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Federal Law Enforcement Trust Fund
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Transportation Improvements Fund (1
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Economic Development Fund (116) Beg
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Stormwater Fund (138) (Note: In FY
Page 109 and 110:
DEBT SERVICE FUNDS Debt Service Fun
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Public Improvement Revenue Bonds De
Page 113 and 114:
General Obligation Bond Debt Servic
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Lease Financing Fund (205) 2008-09
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CAPITAL PROJECT FUNDS Capital Proje
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Vehicle/Equipment Replacement Fund
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Local Option Sales Tax Construction
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Technology Improvements Fund (320)
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General Facilities Improvements Fun
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Public Works/Fire Station Construct
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Recreation Facilities Improvements
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ENTERPRISE FUNDS Enterprise Funds a
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Water/Wastewater Operating Fund (40
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Water/Wastewater Operating (401) Fu
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Reclaimed Water System Construction
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Utility Revenue Bond/SRF Loan Sinki
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Water/Wastewater Renewal and Replac
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Water System Impact Fee Fund (408)
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Series 2007 Utility Construction Fu
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Series 2010B Utility Revenue Bonds
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INTERNAL SERVICE FUNDS Account for
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Medical Insurance Fund (510) 2008-0
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City of Oviedo Legislative & Execut
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TABLE OF CONTENTS LEGISLATIVE AND E
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EXPENDITURE AND STAFFING SUMMARY De
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LEGISLATIVE AND EXECUTIVE SERVICES
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CONSOLIDATED EXPENDITURE DETAIL Dep
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City of Oviedo General Government S
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TABLE OF CONTENTS GENERAL GOVERNMEN
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Performance Profile (continued) Ris
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Department Finance Program Utility
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PERFORMANCE PROFILE Department Fina
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PERFORMANCE PROFILE Department Info
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Geographic Information Systems Meas
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GENERAL GOVERNMENT SERVICES CONSOLI
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CONSOLIDATED EXPENDITURE AND STAFFI
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City of Oviedo Development Services
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TABLE OF CONTENTS DEVELOPMENT SERVI
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DEVELOPMENT SERVICES CONSOLIDATED E
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2008-09 2009-10 2010-11 2010-11 201
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City of Oviedo Law Enforcement 198
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TABLE OF CONTENTS POLICE Page Numbe
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School Resource Officers FY 08-09 F
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PERFORMANCE PROFILE Department Poli
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POLICE DEPARTMENT CONSOLIDATED EXPE
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2008-09 2009-10 2010-11 2010-11 201
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City of Oviedo Fire Rescue Services
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TABLE OF CONTENTS FIRE RESCUE Page
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FIRE DEPARTMENT CONSOLIDATED EXPEND
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City of Oviedo Octoberfest Snow Mou
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TABLE OF CONTENTS RECREATION & PARK
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PERFORMANCE PROFILE Department Recr
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RECREATION AND PARKS CONSOLIDATED E
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2008-09 2009-10 2010-11 2010-11 201
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City of Oviedo Public Works Operati
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TABLE OF CONTENTS PUBLIC WORKS Page
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PERFORMANCE PROFILE Department Publ
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STORMWATER UTILITY Stormwater Engin
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PUBLIC WORKS* CONSOLIDATED EXPENDIT
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2008-09 2009-10 2010-11 2010-11 201
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City of Oviedo Water / Wastewater U
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TABLE OF CONTENTS WATER/WASTEWATER
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Department Finance Program Utility
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The City of Oviedo 308
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WATER AND WASTEWATER COMBINED EXPEN
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2008-09 2009-10 2010-11 2010-11 201
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TABLE OF CONTENTS NON-DEPARTMENTAL
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DEBT SERVICE OBLIGATIONS FY 07-08 F
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DEBT SERVICE OBLIGATIONS FY 07-08 F
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Revenue and GO Bond Debt Service Re
Page 347 and 348:
Utility Debt Service Requirements t
Page 349 and 350:
TABLE OF CONTENTS CAPITAL IMPROVEME
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City of ___ Oviedo Five Year Capita
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City of ___ Oviedo approximately 23
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5 YEAR CIP: EXPENDITURES BY PROJECT
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FY 11-12 FY 12-13 FY 13-14 FY 14-15
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FY 11-12 FY 12-13 FY 13-14 FY 14-15
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TABLE OF CONTENTS APPENDIX Page Num
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Glossary of Budget Terms ACTUAL Pre
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Oviedo Demographics: Fast Facts & S
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2010 Top Ten Taxpayers for Oviedo T
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The City of Oviedo
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FY 2011-12 Adopted Budget - City of Oviedo

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