fy18 tax supported funds update - broward county, florida 18 tax supported fun… · note: the...

Broward County • 2018 Budget Workshop • June 6, 2017

FY18 Tax Supported

Funds Update

1


History of Tax Roll

($ in billions)

2

$176.4$167.5

$148.8

$130.0 $126.4 $127.1$132.1

$141.0$150.7

$163.0

$177.3

$0

$45

$90

$135

$180

$225

FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18*

* Preliminary June 1 Estimate


Tax Roll Data

(81% of GF revenues)

FY17 Tax Roll

used for Adopted

Budget (in

Billions)

FY17 Revised Tax

Roll* (in Billions)

FY18 Preliminary

Tax Roll (in Billions)

% Change from

FY17 Adopted

% Change from

FY17 Revised*

March Staff Estimate $163.0 $161.4 $172.7 6.0% 7.0%

June PAO Estimate 163.0 162.2 177.3 8.8% 9.3%

3

*After adjustments by Value Adjustment Board (VAB)


Taxable assessments,

by Type of Property, FY14 to FY18

4

% Tax

Roll in

FY14

% Tax

Roll in

FY15

% Tax Roll

in FY16

% Tax

Roll in

FY17

% Tax

Roll in FY18

Homestead 35.0% 34.2% 33.3% 32.6% 32.4%

Non-Homestead Residential 33.6% 35.4% 37.2% 38.0% 37.7%

All Other Properties 31.4% 30.4% 29.5% 29.4% 29.9%

Total 100.0% 100.0% 100.0% 100.0% 100.0%


0.5 cent sales tax (8.3% of GF revenues)

Actual revenues, 2008 to 2017

5

-5.9%

-10.5%

0.2%

4.3% 3.8%

6.9% 6.6%5.1%

3.4%

1.4%

-12.5%

-10.5%

-8.5%

-6.5%

-4.5%

-2.5%

-0.5%

1.5%

3.5%

5.5%

7.5%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017*

*Year to date through March versus previous year to date through March.


0.5 cent sales tax

Monthly revenue change from prior year, April 2016 to March 2017,

Broward vs State of Florida

6

4.7%4.2%

3.9%

6.2%

4.1%

7.5%

5.1%

1.0%

5.5%

4.5%

5.8%

1.9%

4.6%

2.0%

3.2%2.5%

2.9% 3.1%

6.9%

4.2%

-1.6%

2.4%

1.6%

3.3%

0.8%

2.7%

-5%

0%

5%

10%

Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 12Months

State Broward


Sales tax collections, selected categories,

12 months through March 2017

7

0.6%

-0.9%

2.8%

4.5%

Broward

Miami-Dade

Palm Beach

Statewide

2.2%

0.04%

-2%

4.6%

4.0%

2.6%

2.7%

4.0%

Restaurants (10.7%)Automotive dealers (16.5% of all collections) General Merchandise (11.7%)


Overall General Fund Outlook

Factors in the following:

• Preliminary Tax Roll on June 1st (Final on July 1st)

• For non-property taxes, FY18 updated revenue

estimates are less optimistic than in March

• Mandated expenses such as tax increment

payments, Medicaid payments, Article 5 court

costs etc.

8


Overall General Fund Outlook

• Maximum

appropriation

increase of 6.3% for

operations should

there be no millage

reduction

9

FY18 BudgetJune 17

estimate

Change from

March 17

estimate

Tax Roll change 8.8% 2.8%

Other revenues -0.4%

Less 5% -0.1%

TOTAL REVENUES 2.3%

Constitutional officers

and County agencies6.3% +1.4%

Reserve for

Constitutional

amendment

+1.3%

Mandated expenses -0.4%

TOTAL USES 2.3%


FY18 Appropriations based on various

General Fund growth scenarios

AgencyFY17 Adopted

Budget

FY17

+ 4.9%

FY17

+ 6.3%Notes

BSO $460.8 $483.4 $489.8 FY18 Request is $493.8M

SOE (Admin & Ops) $6.513 $6.832 $6.923 FY18 Request is $6.89M

County Commission Agencies $398.9 $418.4 $424.0

10

*Includes additional $300K due to agreement on injured arrestee funding

NOTE: The county’s share of the Property Appraiser’s Office proposed FY18 operating budget is $20.9M or a 11%

increase above the adopted budget, as well as a non-operating request of $7.7M for a mass appraisal system. This

budget has been submitted to Florida Department of Revenue for review and approval.

*


Impact of Tax Rolls on CRA payments

FY17 CRA Payments $39.0M

FY18 Estimate as of June $43.2M

Increase over FY17 Payments $4.2M

Increase over FY18 March Staff Estimate $0.8M

11


History of CRA payments

$millionsPayments

Began1982-2002 2003 2010 2017 2018

TOTAL

(1982-2018)

Fiscal Year

Payments

End

Hollywood - Downtown 1982 $7.810 $0.851 $2.700 $2.670 $2.86 $42.04 2028

Hollywood - Beach 1999 1.490 3.750 6.440 12.900 13.858 $125.11 2028

Subtotal Hollywood 9.300 4.600 9.140 15.560 16.719 $167.15

Pompano Beach – NW Area 1991 4.710 1.330 3.510 3.210 3.62 $48 2020

Pompano Beach – East Area 2004 0.065 1.120 1.310 1.431 $12.53 2032

Subtotal Pompano Beach 4.710 1.400 4.630 4.520 5.051 $60.53

Plantation 2002 0.051 0.073 0.523 0.590 0.661 $6.55 2031

Margate 1999 1.040 0.860 2.100 2.060 2.419 $29.50 2028

Lauderdale Lakes 2002 0.081 0.131 0.638 0.656 0.825 $7.79 2031

Hallandale 1998 2.040 1.000 3.960 4.620 5.069 $57.39 2027

Fort Lauderdale – Central

Beach1998 1.790 0.816 3.140 3.990 4.197 $42.88 2020

Fort Lauderdale – NW Area 1997 2.030 0.616 2.820 4.320 4.821 $43.43 2026

Subtotal Fort Lauderdale 3.820 1.430 5.960 8.310 9.018 $86.31

Deerfield Beach 2001 0.137 0.223 1.110 1.330 1.469 $16.39 2030

Davie 1990 1.930 0.683 1.570 1.670 1.874 $23.52 2028

Coral Springs 2017 0.018 0.081 $0.10 2030

12


Distribution of Millage Rate

(If total Millage Rate remains the same as FY17)

Millage Rate FY17 Adopted FY18 Proposed Difference

Operating 5.2904 5.2904 0

Capital 0.1570 0.1718 0.0148

Debt Service 0.2216 0.2068 -0.0148

TOTAL 5.669 5.669 0

13

* May change based on July 1st Certified Tax Roll

*

*


General Capital Program Taxes History

($ in millions)

14

$41.1

$37.6

$25.0$23.8

$19.0

$8.1 $8.1 $8.1$10.1

$16.1

$19.5

$25.6

$30.5

$0

$10

$20

$30

$40

$50

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18*

* May change based on July 1st Certified Tax Roll


Items to consider for FY18 and beyond

• Constitutional amendment to expand homestead exemptions reduces GF

by estimated $32.4M in FY20

• Escalation in paratransit costs

• North exit ramp off Sawgrass

• Reduction in Court Facility traffic ticket surcharges that funds debt service

• Uncertainty of sales tax trends

• Wave project implementation

• Pay and classification issues with attracting and retaining employees

• Maintenance cost impact of new radio systems

• Phase in of opening of detox beds at new BARC facility

• Dispatch and court house security

• Convention center hotel project

• Potential loss of significant portion of Pay Telephone Trust funds

15


Next Steps

• Thursday June 15th – all day budget workshop

• County Administrator’s recommendations related to

county general fund agencies and Board Goals’ request

• August 29th – all day budget workshop

• General Capital Program

• Transportation Capital Program

• Enterprise Fund agencies

16


Discussion

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