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2010.07.13_TC_Minutes_SpecialTOWN OF HIGHLAND BEACH MINUTES OF TOWN COMMISSION MEETING SPECIAL MEETING Tuesday, July 13, 2010 2.00 PM Mayor Jim Newill, CPA, called the Special Meeting to order in Commission Chambers at 2:00 PM. CALL TO ORDER: Roll Call: Members present: Mayor Jim Newill, CPA; Vice Mayor Miriam S. Zwick; Commissioner Doris M. Trinley; Commissioner John J. Sorrelli; and Commissioner John J. Pagliaro. Also present: Town Attorney Tom Sliney; Town Manager Dale S. Sugerman; Town Clerk Beverly M. Brown; Deputy Finance Director Cale Curtis and members of the public. Pledge of Allegiance: The Pledge of Allegiance was given, followed by a minute of silence in honor of members of the military, both living and deceased. Civility Pledge: The Civility Pledge was recited by the Town Clerk. 1. ADDITIONS. DELETIONS OR ACCEPTANCE OF AGENDA Mayor Newill asked for any additions or deletions. Receiving none, the agenda was accepted as presented. 2. PUBLIC COMMENTS AND REQUESTS Joe Yucht -Boca Highlands I am confused about the necessity of buying a new fire truck. After listening to the meeting on the website, the only reason to replace it seems to be that it is 15 years old. Fire Departments have excellent maintenance. Listening to the Fire Chief all I heard was "I want" not "I need." Fire trucks are like toys to firemen. Do not see any benefit in the purchase of a new fire truck to the residents of Highland Beach. These are tough economic times. 3. PROPOSED ORDINANCES AND RESOLUTIONS A) RESOLUTION NO. 10-008 R A RESOLUTION OF THE TOWN OF HIGHLAND BEACH, FLORIDA, CALLING FOR A REFERENDUM ELECTION REGARDING THE PURCHASE OF AN AERIAL FIRE TRUCK Town Clerk Brown read Resolution No.10-008 R, title only, into the record. Town Commission Special Meeting Minutes Julv 13, 2010 Page 2 of 12 Mayor Newill -The only thing the Commission is voting on is whether to put the question on the ballot in November, not the actual purchase. Town Mana eg r Su eg rman - This item is before the Town Commission to make a determination on putting on the November 2, 2010 ballot a question for the voters regarding the purchase of a replacement aerial fire truck for the current 1995 Sutphen truck which has been determined by the Delray Beach Fire Department to be at the end of its useful life. Fire Chief David has provided us with a comprehensive three-ringed binder on the proposed replacement piece of equipment. That binder has been available for inspection in the Town Clerk's office. With your agenda packet, there was a summary sheet on the proposed replacement purchase, including a full description of the vehicle being considered by the Delray Beach Fire Department, along with a current replacement price quote in the amount of $808,846.00. The vendor has offered atrade-in allowance of $35,500.00 for the current vehicle. If accepted, this trade-in amount could be deducted from the stated purchase price. A number of questions have been posed by Mayor Newill, and Chief James has provided me with his answers. 1) What will happen to the current fire truck? Reply - We would recommend trading in the current vehicle or sending it to auction. 2) If the current truck is traded in, has the trade-in value been figured into the purchase price? Reply -The value of the current vehicle has not been figured into the purchase price. Any trade amount can be used to reduce the overall cost. 3) How is a trade-in value determined? Reply -The trade-in value would be determined by the dealer. 4) Is there any opportunity to sell the truck at auction/surplus property sale? Reply - Yes, I believe this was done when the Town sold their last rescue vehicle. I would recommend that we update the trade offer from the dealer at the time of purchase and then determine what route will generate a better return. 5) If it were to be kept, does it have any value as aback-up vehicle? Reply - No, the city already has a back- up vehicle that is more modern and in better condition. 6) What would be the warranty on a new truck, and when do the repair costs start? Reply - 1 year comprehensive on the truck, 5 years on the motor and transmission, 5 years on the pump, and 20 years structural on the ladder. 7) Is there an opportunity to get competitive bidding on a new truck and can we invite a number of bidders to compete for this business? Reply -The pricing provided is based on an open competitive bid from the Florida Sheriffs State Contract. The City of Delray Beach has utilized an open bid process in the past and has consistently chosen our current provider. An additional consideration would be that the proposed manufacturer has built all of our current vehicles. Our mechanics have been trained to maintain and repair this vehicle with repair parts stocked in-house. Additionally all of our personnel have been trained on this type of vehicle. The Resolution has been written with considerable flexibility, in that the referendum question which is posed sets an upper limit purchase price of $1,000,000.00. The Commission may not want to use that number, as the actual number is closer to $800,000.04. The dollar amount to go into the Resolution can be established during the meeting and the final Resolution language can be modified to fit the ultimate decision of the Commission. The Resolution has been written such that the question put to the voters has also specified that the fire truck will be paid through the levy and pledge of ad valorem taxes. Sometime after the decision to place this item on the ballot and the actual election, we will have to go through the process of calculating what the impact would be on property taxes if the voters approve the ballot initiative. That calculation would be done once the Commission determines if it wants to put this item on the ballot or not. Town Commission Special Meeting Minutes July 13 2010 Paae 3 of 12 Mayor Newill -Trade-in versus sending the truck to an auction. Can we set a minimum selling price? Reply -Yes. Commissioner Trinley -Recommend removing the million dollar figure and replacing it with $800,000.00. Also believe that we should insert in Section 2 the fact that this question has to go to referendum due to the Charter requirement of any purchase over $350,000.00. Town Attorney Sliney -Recommend that you revise Section 2 of the Resolution to include wording: "at a cost in excess of $350,000.00;" and insert wording in the question: "at a cost which is in excess of the Charter limit of $350,000.00." MOTION: Commissioner Trinley moved to include language in Section 2 of the Resolution to include "in excess of $350,000.00;" insert in the referendum question " at a cost which is in excess of the Charter limit of $350,000.00;" change the purchase dollar amount to $810,000.00 and adopt Resolution No. 10-008 R. Motion seconded by Commissioner Sorrelli. ROLL CALL: Commissioner Trinley - Yes Commissioner Sorrelli - Yes Commissioner Pagliaro - Yes Vice Mayor Zwick - Yes Mayor Newill - Yes Motion passed with a 5-0 vote. Commissioner Pa lg iaro - Prior to the referendum, will information be distributed to the residents supplying the why, where and who? Reply -Yes. 4) NEW BUSINESS A) Setting the Tentative Maximum Millage Rate -Fiscal Year 2010-2011 Town Mana eg r Su eg rman -The purpose of this agenda item is to have the Town Commission set the tentative maximum millage rate for the fiscal year 2010/2011 which begins on October 1, 2010 and runs through September 30, 2011. What this allows us to do as we go about the budget process for the next 3 months is to use the tentative maximum millage rate that you set today to establish the upper end of the ad valorem taxes that we propose to collect in the next fiscal year. Between today and the end of September, the Commission can always lower the tax rate but after today the tax rate can never be increased for the balance of the budget setting process. After today the tax rate could go down but it cannot go up. The result of today's meeting, and the tax decision, will be advertised as the highest possible tax rate that the Commission might set for next fiscal year. That way the public will know it is the most we will ever charge in taxes. Please turn to page 4 of the proposed budget -Revenue Comparison F/Y 09-10 and F/Y 10-11 (Exhibit A attached). The Chart shows "Current Ad Valorem Taxes" of $7,402,709.00. This number is the amount of taxes the proposed budget will collect from our citizens next year. You will see how that number ties back to the millage rate. $7,936,744.00 was Town Commission Special Meeting Minutes July 13 2010 Page 4 of 12 the amount of ad valorem taxes that we anticipated collecting this current budget year. The difference between these two numbers is $534,035.00. The proposed budget submitted to you last week, if adopted as proposed, will actually collect $534,035.00 less in ad valorem taxes next yeaz, compared to what we anticipated collecting this year. This is due to two things: 1) Town's overall assessed value of property has continued to plummet; 2) The recommended budget does recommend a slight decrease in the General Fund operating millage rate. It is my recommendation that the Commission considers lowering the Highland Beach tax rate once again, to show our citizens that we aze fully aware of the state of the economy and we aze doing our part here at Town Hall to ease the fiscal burden on everyone. The total amount of General Fund Revenue we anticipate collecting in the next fiscal yeaz is $10,724,155.00. It includes not only the ad valorem tax revenue, but all of the other revenues. Page 5 of the budget book (Exhibit Battached) -Expenditure Comparisons. The total amount of expenditures that we anticipate will occur in the next budget yeaz is $10,724,155.00. It includes the spending for all operating departments. The bottom line of expenditures is exactly equal to the bottom line of the revenues. How can we predict that our revenues will exactly equal all our expenditures? We actually have not made that prediction. With this proposed budget, we are estimating that our revenues will slightly exceed our expenditures next year. That can be found in the Reserve for Contingency line item in the amount of $200,000.00. This proposed budget with all of its anticipated revenue and all of its anticipated expenditures, results in $200,000.00 available and appropriated, but unassigned for any particulaz expense. Throughout the budget process we will be talking about this money. How it might go up or how it might go down. It depends on what the Town Commission wants to do in setting the ad valorem tax rate, adding expenditures to the budget or eliminating recommended expenditures already contained in the recommended budget. Vice Mayor Zwick - In previous yeazs, the "Reserve for Contingency" has always been at a higher level. Have we spent less in any yeaz? Mana eg r Su eg rman -Yes, every yeaz we have spent less than what has been in Reserve for Contingency. You aze right. The "Reserve for Contingency" has started out lazger than is recommended in this budget. It has started out in the range of $400,000.00 to $600,000.00 range. Vice Mayor Zwick - We aze working against a stone wall working with $200,000.00 in "Reserve for Contingency" to help us get through the yeaz. Mana eg r Sugerman -You aze absolutely right, $200,000.00 is razor thin, but is doable. You will see with my presentation that number could go up slightly, but it means cutting expenditures or raising additional revenue. (The "2010 Projected Tax Roll" Chart - Exhibit C attached was distributed to the Commission) Town Mana e~ eg rman -This Chart has all the information needed in order for the Commission to set the tentative maximum millage rate. Line 1 of the Chart is the assessed value of all the property in Highland Beach over a 3 year period. In Budget Yeaz 2008-2009 the value was $2.14 billion dollars; 2007-2008 the assessed value was $2.25 billion dollars; 2009-2010 the assessed value is $1.932 billion dollars, and for the next fiscal yeaz 2010-2011 the value is $1.816 billion dollars. Over the last 3 years, the Town's assessed value has decreased from $2.25 billion to $1.816 billion, a decrease in value of 18.5%. In reviewing the Chart, look at the Current Year (column B) with an operating millage rate 3.3542 and last year (Column A) indicating an operating millage rate of 3.4042 mills. The Commission might remember that we lowered the operating millage rate .OS mills. For purposes of setting the tentative maximum millage rate we also have to look at voter approved debt service and what that does to the overall millage rate. The voter approved debt service includes: construction of the water treatment plant, the town's library and the recently installed water main on AlA. In order to Town Commission Special Meeting Minutes July 13 2010 Page 5 of 12 establish the over all tax millage rate, we also have to include the voter approved debt service. The voter approved debt service can be found along line 5 of the chart. Last year the voter approved millage rate was 0.4458, for this current year it was approved at 0.9183 and for F/Y 2010-2011 it will be 0.9401. In order to get the "Total Tax Rate" for any given yeax, add lines 2 and 5 together. If you look at line 7, the overall millage rate in F/Y 08/09 was 3.85 mills, the overall millage rate for F/Y 09/10 it is 4.2725 mills. This year's millage rate includes voter approval debt service that was approved in 2008. Column C on the chart is built around an assumption that we would not change the general operating millage rate from this year to next year. For next year, we would leave the operating millage rate the same - 3.3542 mills. We would already be starting at a lower point that the current budget year due to the fact that our assessed valuation has gone down significantly. Remember there is no change in the operating millage rate, but the debt service millage rate has to go up when the assessed values go down. The debt service millage rate in F/Y 09-10 was 0.9183 mills but in F/Y 10-11 it will go up to 0.9401 mills due to the change in the assessed values. The millage rate that I am recommending for the upcoming year can be found in Column D. Column D is built on the assumption that the Commission will consider once again lowering the general operating millage rate by .OS mills. With the operating tax rate lowered by an additional .OS mills, this will demonstrate to our citizens that we continue to work hard to lower their taxes. It is a small decrease in their taxes, but a decrease nonetheless. Column D shows an operating millage rate of 3.302 mills which is .OS mills less than the current year. To that operating millage we would have to add the debt service millage rate of 0.9401 mills for a total tax rate of 4.2443 mills. The total taxes levied would be $7,402,709.00 if the Town Commission settles on this recommendation. This number ($7,402,709.00) matches the "Current Ad Valorem Taxes" listed in the F/Y 2010-2011 proposed budget. I have also included some additional alternatives for the Commission to review. If you look across the bottom of the Chart, in line 8 of Column C -the no change column (meaning no tax reduction), we would raise $7,489,917.00 in general fund taxes. The "no change" in millage would generate $87,208.00 in additional ad valorem taxes if that was the scenario selected by the Commission. The .OS decrease in Column D would raise $7,402,709.00 in ad valorem taxes, and is the scenario the budget was built around. To answer Vice Mayor Zwick's question, if you were to select the "no change" Column C, we would increase the "Reserve for Contingency" from $200,000.00 to $287,208.00. Column E is a .10 decrease and would raise $7,315,000.00 in general fund taxes which would be a further decrease of $87,208.00 in the "Reserve for Contingency." Column F is a .OS increase over the current ad valorem tax rate and it would generate $7,577,124.00 in general fund taxes and would be an increase of $174,415.00 in taxes. If the Commission chooses this scenario, it would generate $374,415.00 in "Reserve for Contingency." Colum G is a .10 increase over the current ad valorem rate and would raise $7,664,332.00 in general fund taxes and would generate $461,623.00 in the proposed for "Reserve for Contingency." My recommended budget is based on Column D, a .OS millage decrease over last year's millage rate. The Chart also shows you what .10 decrease will do (Column E); 1 .OS millage increase (Column G); and a .10 millage increase (Column G). By law, whatever we do today has to be published and our citizens will get a formal notice of where the Highland Beach taxes will be headed, at least on a preliminary basis. This should pique the interest of our residents and bring them out to our budget public hearings so-that they can make recommendations on how we should be spending their money Town Commission Special Meeting Minutes July 13 2010 Page 6 of 12 and how much we should be taxing them. When we publish the ad on what you approved today as the tentative maximum millage rate, we will either have to publish a notice that the Highland Beach taxes are proposed to increase or proposed to decrease. However, the determination whether they are increasing or decreasing is also based upon the fact that the assessed values have dropped significantly in the past year. Therefore, we can actually have a higher millage rate next year, compared to this year, which would result in a publication that our tax revenues actually are staying the same. Let me explain how that works. Column H is the "Rolled Back Rate." This is the rate by law that allows us to adjust the millage to such an amount of operating tax revenues collected next budget year would be the same as what we collected this budget year. Because our assessed valuation has gone down year after year, looking at Column H, we could set a base tax millage rate of 3.6062 mills and advertise it as a 0% increase in taxes. Then looking at line 8, it would raise $7,861.013.00 in tax revenue. This would be an increase of $458,304.00 in general fund revenues over the proposed budget. If the Commission sets this as the tentative maximum millage rate, it would then show up in the "Reserve for Contingency" line item in the budget as a total of $658,304.00 appropriated but unassigned. That compares to the current recommended budget of $200,000.00. Column H is the roll back column. Going into the budget with a roll back rate of 3.6062 operating mills would give us the most amount of flexibility, providing us with a potential increase of $458,304.00 in general fund revenue. Interestingly, selecting the roll back rate would allow us to advertise that the property tax rate in Highland Beach was neither a tax increase nor a tax decrease. What we are doing today is only setting the tentative maximum millage tax rate. Whatever you set today is the amount that will go on what is called the "Trim Notice" that is mailed to our residents. That will be the announcement that tells the starting point on our millage rate, when our budget hearings will be held and possibly trigger some discussion within the community. In the end, however, that is not going to be the final tax rate. The final tax rate will be set in September during the actual budget hearings with the final adoption of the budget. Once you set the tentative maximum millage tax rate, that tax rate can never go higher. It could always go lower once we get to the budget hearings, but never higher. The tentative maximum millage rate can be set with a simple motion, second, discussion and vote. I would like to thank Cale Curtis, Deputy Finance Director, who worked closely with me in doing all of these calculations. Cale has spent considerable time working with me to put the budget and charts together for today's presentation. I consider Cale a subject matter expert on this process, and quite frankly could not have done it without him. Between the two of us, we would be happy to answer any final questions that you might have before we ask you to set the tentative maximum millage tax rate. We also need to set the budget hearing dates in September. Commissioner Sorrelli -Are you comfortable with the Commission setting 3.6962 as the maximum tentative millage rate? Mana e~ r Su eg rman - I believe we will be and that is exactly what we did the last two years, setting the roll back rate as the maximum tentative millage rate. After the budget workshops and hearings, we ultimately lowered the millage rate. Comm. Sorrelli -The new fire truck has nothing to do with this? Mana eg r Sugerman -That is correct. MOTION: Vice Mayor Zwick made a motion to set the tentative maximum millage rate at the rolled back rate of 3.6062 mills and debt service millage of 0.9401 for a Total Tax Rate of 4.5463 mills. Motion seconded by Commissioner Pa lg iaro. Town Commission Special Meeting Minutes July 13 2010 Paae 7 of 12 ROLL CALL: Vice Mayor Zwick - Yes Commissioner Pagliaro - Yes Commissioner Sorrelli - Yes Commissioner Trinley - Yes Mayor Newill - Yes Motion passed with a 5-0 vote. Town Mana eg r Su e~ -The Commission is also required to set the dates for the public hearings on the budget, keeping in mind that they cannot be on the same date as the County Commission or the County School Board. MOTION: Commissioner Sorrelli moved to schedule the first Budget Public Hearing for September 16, 2010 at 5:01 PM; seconded by Vice Mayor Zwick. ROLL CALL: Commissioner Sorrelli - Yes Vice Mayor Zwick - Yes Commissioner Trinley - Yes Commissioner Pagliaro - Yes Mayor Newill - Yes Motion passed with a 5-0 vote. MOTION: Commissioner Sorrelli moved to schedule the second Budget Public Hearing for September 27, 2010 at 5:01 PM; seconded by Vice Mayor Zwick. ROLL CALL: Commissioner Sorrelli - Yes Vice Mayor Zwick - Yes Commissioner Pagliaro - Yes Commissioner Trinley - Yes Mayor Newill - Yes Motion passed with a 5-0 vote. *****EXHIBITS A - B - C DISCUSSED DURING THE MEETING FOLLOW******** TOWN OF HIGHLAND BEACH REVENUE COMPARISON - F/Y 09-10 AND FIY 10-11 PROPOSED PROPOSED 2009-2010 2010-2011 FUND REVENUE SOURCE BUDGET BUDGET - ~ t -CURRENT AD VALOREM TAXES LOCAL OPTION GAS TAX FRANCHISES FEES OCCUPATIONAL LICENSES BUILDING PERMITS INTER GOVT REVENUE GARBAGE/SOLID WASTE ' CHARGES FOR SERVICES FINES AND FORFEITURES INTEREST MISCELLANEOUS REVENUES TRANSFER FROM WATER FUND APPROPRIATION FROM RESERVE TOTAL GENERAL FUND LIBRARY DONATION FUND TOTAL LIBRARY DONATION CULTURAL BOARD FUND TOTAL CULTURAL BOARD FUND LAW ENFORCEMENT TRUST TOTAL LAW ENFORCE. TRUST FUND LIBRARY DONATIONS CULTURAL BOARD FUND REVENUES LAW ENFORCEMENT TRUST REVENUES I , yyA®~-WATER UTILITY REVENUE CHARGES FOR SERVICES INTEREST MISCELLANEOUS REVENUES DEBT PROCEEDS TRANS FROM GENERAL FUND-G.O. DEBT SERVICE TRANS FROM GENERAL FUND-DEFICIT APPROPRIATION FROM RESERVE TOTAL WATER- REGULAR SEWER DEPT TOTAL SEWER DEPT GRAND TOTAL WATER FUND SEWER UTILITY REVENUE INTEREST APPROPRIATION FROM RESERVE TOTAL UTILITIES FUNDS GRAND TOTAL 7,936,744 7,402,709 31,000 33,600 749,000 785,000 1,200 1,200 255,000 269,000 320,741 364,545 492,000 492,000 3,000 4,350 25,000 18,555 137,245 63,000 272,060 293,057 0 0 482,643 997,139 10,705,633 10,724,155 7,200 2,065 7,200 2,085 10,300 5,570 10,300 5,570 4,100 4,060 4,100 4,060 2,065,000 2,115,000 30,720 30,720 2,500 1,000 127,926 136,274 3,392,897 0 1,418,217 1,360,960 75,842 0 0 60,000 7,113,102 3,703,954 990,000 1,001,000 15,000 5,000. 80,000 83,026 1,085,000 1,092,026 8,198,102 4,795,980 18,925,335 15,531,830 4 ~~ ~ t J D ~' ~f' .06.10 f/ ~ ~~ l~ .~C . TOWN OF HIGHLAND BEACH EXPENDITURE COMPARISON - F/Y 09-10 AND F/V 10-11 FUND COST CENTER PROPOSED 2009 - 2010 BUDGET PROPOSED 2010 - 2011 BUDGET ~ TOWN COMMISSION 174,100 137,866 TOWN MANAGER 312,890 326,594 TOWN CLERK 203,505 226,514 FINANCE 262,040 271,152 LEGAL COUNSEL 220,000 188,000 DEBT SERVICE 721,700 713,110 PUBLIC WORKS 242,437 240,150 POST OFFICE 118,725 120,765 OTHER GENERAL GOVERNMENT 445,100 443,800 LAW ENFORCEMENT 1,912,880 2,189,935 DELRAY BEACH FIRE/RESCUE 2,908,130 2,981,041 PROTECTIVE INSPECTION 323,037 299,246 AMBULANCE & RESCUE 12,000 12,000 REFUSE COLLECTION 458,000 445,000 LIBRARY 497,030 568,022 tNTERFUND TRANSFER- DEBT SERVICE 1,418,217 1,360,960 INTERFUND TRANSFER- WATER FUND DEFECIT 75,842 0 RESERVE FOR CONTINGENCY 400,000 200,000 TOTAL GENERAL FUND TOTAL GENERAL FUND LIBRARY DONATION FUND LIBRARY EXPENDITURES TOTAL LIBRARY DONATION TOTAL LIBRARY DONATION FUND CULTURAL BOARD FUND CULTURAL BOARD FUND EXPENDITURES TOTAL CULTURAL BOARD TOTAL CULTURAL BOARD FUND 10,705,633 10,724,155 7,200 2,065 7,200 2,065 10,300 5,570 10,300 5,570 LAW ENFORCEMENT TRUST LAW ENFORCEMENT TRUST FUND EXPENDITURES 4,100 4,060 TOTAL LAW ENFORCE. TRUST TOTAL LAW ENFORCEMENT TRUST FUND 4,100 4,060 WATER DEPT WATER EXPENDITURES-REGULAR 5,684,957 2,319,652 WATER EXPENDITURES-DEBT SERVICE 1,428,145 1,370,732 RESERVE FOR CONTINGENCY 0 13,570 TOTAL WATER DEPT TOTAL WATER FUND 7,113,102 3,703,954 SEWER DEPT SEWER EXPENDITURES 1,079,071 1,092,026 RESERVE FOR CONTINGENCY 5,929 0 TOTAL SEWER DEPT TOTAL SEWER 1,085,000 1,092,026 TOTAL UTILITIES FUNDS TOTAL UTILITIES FUND-REGULAR EXPENDITURES 8,198,102 4,795,980 GRAND TOTALS GRAND TOTAL-REGULAR BUDGET 18,925,335 15,531,830 5 TOWN OF HIGHLAND BEACH 2010 PROJECTED TAX ROLL as of O6/30/10 F/Y 2010.2011 A B C D E F G H Prior Year Current Year No Change in DECREASE DECREASE INCREASE INCREASE ROLLED BACK OS-09 09-10 Millage Rate .05 MILLS .10 MILLS .05 MILLS .10 MILLS RATE 1. TAXABLE VALUES 2,140,106,933 1,932,060,374 1,816,826,131 1,816,826,131 1,816,826,131 1,816,826,131 1,816,826,131 1,797,059,718 2. Operating Millage 3.4042 3.3542 3.3542 3.3042 3.2542 3.4042 3.4542 3.6062 3. CHANGE N/A 772,642 (371,058) (458,266) (545,473) (283,850) (196,643) 38 ,~ 4. Taxes levied operating @ 96% $ 6,993,938 $ 6,221,296 $ 5,850,238 $ 5,763,031 $ 5,675,823 $ 5,937,446 $ 6,024,654 $ 6,221,334 5. Debt Service Millage 0.4458 0.9183 0.9401 0.9401 0.9401 0.9401 0.9401 0.9401 Taxes levied debt service @ 96% $ 915,897 $ 1,703,243 $ 1,639,678 $ 1,639,678 $ 1,639,678 $ 1,639,678 $ 1,639,678 $ 1,639,678 7. YOTAL TAX RATE 3.8500 4.2725 4.2943 4.2443 4.1943 4.3443 4.3943 4,5463 6. TOTAL TAXES LEVIED $ 7,909,835 $ 7,924,539 $ 7,489,917 $ 7,402,709 $ 7,315,501 $ 7,577,124 $ 7,664,332 $ 7,861,013 Rolled back rate is calculated using the current year adjusted taxable value. Current year adjusted taxable value equals current year taxable value less new construction. (1,816,826,131,-19,769,413 = 1,797,059,718) \~~ Town Commission Special Meeting Minutes July 13, 2010 Page 11 of 12 5. REPORTS -TOWN COMMISSION Commissioner Pagliaro - Is the Proposed Budget a public document? Reply -Yes. Comm. Pa liaro -Recommend that the residents take time to stop in Town Hall to review it prior to the public hearings. Commissioner Sorrelli -Thanked Town Manager Sugerman and Deputy Finance Director Curtis for the excellent job they did on the proposed budget. Commissioner Trinley -What is Trim? Manager Sum -Truth in millage. Tells the citizens of the town exactly what the impact of the taxes will be. Comm. Trinlev then thanked both the Town Manager Sugerman and Deputy Finance Director Curtis for the comprehensive budget. Vice Mayor Zwick -Thanked the staff at Fire Department for putting their lives on the line. Felt it was an insult to refer to their equipment as toys. Should have been tools. Mayor Newill -Thanked Town Manager Sugerman and Deputy Finance Director Curtis for the outstanding job on the budget. 6. REPORTS -TOWN ATTORNEY Great presentation, very thorough. 7. REPORTS -TOWN MANAGER No report. 8. PUBLIC COMMENTS AND REQUESTS RELATED TO ITEMS DISCUSSED AT MEETING Joe Yucht -Boca Highlands Little bit concerned about the speed with which you are putting the fire truck on the ballot. Do not think that you did your homework. Another option for selling the truck would be through the magazine of the Association of Fire Companies. The Town Manager stated no increase in taxes if you voted for the rolled back rate. Unless the value of your property does not go down, the tax rate will go up. It was a thorough presentation, but you rammed it through without any questions. 13. ADJOURNMENT There being no further business to come before the Commission, Mayor Newill adjourned the Regular Meeting at 3:09 PM upon a MOTION by Commissioner Sorrelli; seconded by Vice Mayor Zwick. Town Commission Special Meeting Minutes July 13, 2010 Page 12 of 12 APPROVED: ATTEST: Beverly M. rown, _ C ate ~! ~;'~ Jim N 1 ,CPA, Mayor o ~, ,~