COL State of The City

Opa-locka 2021
Cityof
State
The
has significantly relaxed collection procedures due to the pandemic, resulting in a 75.6%
collection rate, indicating the possibility that the improved billing results may ultimately
translate into lesser receipts.
• The negotiated release of approximately $5.2 million of surplus pledged funds retained by
First National City Bank, the holder of the debt on the Municipal Complex, provided $2.6
million toward the improvement of the General Funds reserves, with another $2.6 million used
to pre-pay the related debt.
• The Citizens Independent Transportation Trust (CITT) released $901,000 for roadway
improvements related to FY 17 and earlier that had been retained due to the City’s previous
inability to provide adequate audits, with more to be released as the City completes
additional audits.
• Initiation of stormwater and CRA downtown masterplans to provide long-range guidance in
the improvement of both of these important aspects of the City.
• Bringing CRA financial reporting requirements to the County up to date.
• FY 21 Budget submitted on schedule and accepted by the State without modification
required. Highlights include:
• A further growth in the property tax base of 8% as the City’s tax base growth continues
to be in the top 20% of cities within the County.
• Continuation of the current lean organization, reflecting a 40% reduction from FY 15
staffing levels with compensation remaining flat other than as reflected in the PBA
contract.
• Very significant revenue uncertainty due to the pandemic, resulting in minimal
improvement of reserves.
• A $7.5 million CIP plan.
14 City of Opa-Locka State of the City