09-27-21 Final Agenda
City of Atlantic Beach
Final Agenda
Regular City Commission Meeting
Monday, September 27, 2021 - 6:30 p.m.
Commission Chamber
City Hall, 800 Seminole Road
INVOCATION AND PLEDGE TO THE FLAG
CALL TO ORDER
Page(s)
1. APPROVAL OF MINUTES
*
1.A.
Approve minutes of the August 9, 2021 Regular Commission meeting.
08-09-21 Draft Regular Commission Minutes
5 - 11
2. COURTESY OF FLOOR TO VISITORS
PUBLIC COMMENT
3. CITY MANAGER REPORTS
3.A.
Accept the 90-Day Calendar (October through December 2021)
90-Day Calendar
13 - 16
*
3.B.
City Vision and Mission
Link to 2040 VISION Citizen Questionnaire
3.C.
Permitting Survey
*
3.D.
0 Lily Street
Landfill Maps and Trash Remediation Cost
17 - 19
4. REPORTS AND/OR REQUESTS FROM CITY COMMISSIONERS
5. UNFINISHED BUSINESS FROM PREVIOUS MEETINGS
6. CONSENT AGENDA
ALL MATTERS LISTED UNDER THE CONSENT AGENDA ARE CONSIDERED TO BE ROUTINE BY THE CITY
COMMISSION AND WILL BE ENACTED BY ONE MOTION IN THE FORM LISTED BELOW. THERE WILL BE
NO SEPARATE DISCUSSION OF THESE ITEMS. IF DISCUSSION IS DESIRED, THAT ITEM WILL BE REMOVED
FROM THE CONSENT AGENDA AND WILL BE CONSIDERED SEPARATELY. SUPPORTING
DOCUMENTATION AND STAFF RECOMMENDATIONS HAVE BEEN PREVIOUSLY SUBMITTED TO THE CITY
COMMISSION ON THESE ITEMS.
6.A.
Acknowledge receipt of the Monthly Financial Report for August 2021.
Financial Report as of August 31, 2021
21 - 25
Page 1 of 223
Regular City Commission - 27 Sep 2021
7. COMMITTEE REPORTS
None.
8. ACTION ON RESOLUTIONS
*
8.A.
Resolution No. 21-53
A RESOLUTION OF THE CITY OF ATLANTIC BEACH, FLORIDA, AWARDING BID 2021-
16 FOR THE MILLING AND PAVING 2021 PROJECT.
Resolution No. 21-53
27 - 32
8.B.
Resolution No. 21-54
A RESOLUTION OF THE CITY OF ATLANTIC BEACH, FLORIDA, APPROVING
RENEWAL OF ALL LIABILITY INSURANCES AND WORKERS’ COMPENSATION
INSURANCE WITH PREFERRED GOVERNMENTAL INSURANCE TRUST FOR 2021-
2022, AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE MEMORANDUM
OF UNDERSTANDING.
Resolution No. 21-54
33 - 35
8.C.
Resolution No. 21-55
A RESOLUTION OF THE CITY OF ATLANTIC BEACH, FLORIDA APPROVING A 3%
SALARY INCREASE FOR THE CITY CLERK, RETROACTIVE TO 10/1/2020.
Resolution No. 21-55
37 - 38
*
8.D.
Resolution No. 21-52, Public Hearing on Adoption of Resolution No. 21-52 for
the Millage Rate.
A RESOLUTION OF THE CITY OF ATLANTIC BEACH, FLORIDA LEVYING THE AD
VALOREM PROPERTY TAX MILLAGE RATE FOR MUNICIPAL PURPOSES ON ALL
TAXABLE PROPERTY WITHIN THE CITY FOR THE FISCAL YEAR BEGINNING
OCTOBER 1, 2021 AND ENDING SEPTEMBER 30, 2022; STATING THE PERCENTAGE
BY WHICH THE MILLAGE TO BE LEVIED EXCEEDS THE ROLLED-BACK RATE; AND
PROVIDING AN EFFECTIVE DATE.
Resolution No. 21-52
39 - 42
9. ACTION ON ORDINANCES
*
9.A.
Ordinance No. 20-21-161, Public Hearing and Final Reading on adoption of
Ordinance 20-21-161, establishing the Operating Budget for Fiscal Year
2021/2022.
AN ORDINANCE ADOPTING THE FINAL BUDGET FOR THE CITY OF ATLANTIC
BEACH, FLORIDA FOR FISCAL YEAR BEGINNING OCTOBER 1, 2021 AND ENDING
SEPTEMBER 30, 2022.
Link to Budget Book
Ordinance No. 20-21-161
43 - 46
Page 2 of 223
Regular City Commission - 27 Sep 2021
10. MISCELLANEOUS BUSINESS
10.A.
Charter Officers FY 20-21 Annual Performance Evaluations
Charter Officers Evaluations
47 - 84
10.B.
Report on results of Actuarial Valuation of Police and General Employee Pension
Funds.
Actuarial Valuation Report
85 - 208
10.C.
Recreation User Fees
Recreation User Fees and Presentation
209 - 223
11. CITY ATTORNEY/CITY CLERK REPORTS AND/OR REQUESTS
12. CLOSING COMMENTS BY CITY COMMISSIONERS AND CITY MANAGER
13. ADJOURNMENT
This meeting will be live-streamed and videotaped. The video recording will be posted within
four business days on the City's website. To access live or recorded videos, click on the
Meeting Videos tab on the city's home page at www.coab.us.
If any person decides to appeal any decision made by the City Commission with respect to
any matter considered at any meeting, such person may need a record of the proceedings,
and, for such purpose, may need to ensure that a verbatim record of the proceedings is made,
which record shall include the testimony and evidence upon which the appeal is to be based.
Any person wishing to speak to the City Commission on any matter at this meeting should
submit a request to the City Clerk prior to the meeting. For your convenience, forms for this
purpose are available at the entrance to the Commission Chamber.
Every effort is made to indicate what action the City Commission is expected to take on each
agenda item. However, the City Commission may act upon any agenda subject, regardless of
how the matter is stated on the agenda.
In accordance with the Americans with Disabilities Act and Section 286.26, Fl orida Statutes,
persons with disabilities needing special accommodation to participate in this meeting should
contact the City Clerk’s Office by 5:00 PM, the Thursday prior to the meeting.
Page 3 of 223
Page 4 of 223
Regular City Commission
August 9, 2021
MINUTES
Regular City Commission Meeting
Monday, August 9, 2021 - 6:30 PM
Commission Chamber
INVOCATION AND PLEDGE OF ALLEGIANCE
CALL TO ORDER:
Following the pledge of Allegiance, Mayor Glasser called the meeting to order at 6:30 PM. City Clerk
Bartle called the roll.
ATTENDANCE:
Present: Ellen Glasser, Mayor - Seat 1
Bruce Bole, Commissioner - Seat 2
Michael Waters, Commissioner - Seat 3
Candace Kelly, Commissioner - Seat 4
Brittany Norris, Mayor Pro Tem / Commissioner - Seat 5
Also Present: Shane Corbin, City Manager (CM)
Donna Bartle, City Clerk (CC)
Brenna Durden, City Attorney (CA)
1 APPROVAL OF MINUTES
1A. Approve minutes of the Regular Commission Meeting on June 14, 2021.
Mayor Glasser asked if there were any corrections or changes needed. There were no
corrections to the minutes. Mayor Glasser stated the minutes stand as submitted.
2 COURTESY OF FLOOR TO VISITORS
2A. Presentation of Lifeguard of the Year and Rookie Lifeguard of the Year
Police Chief Victor Gualillo introduced Lifeguard Captain John Phillips. Captain
Phillips spoke about Mr. Andrew Dalton, recipient of the Rookie of the Year, and
presented him with a certificate and award.
Mr. Dalton spoke highly of the Atlantic Beach Lifeguard program and thanked the
Commission for their support.
Captain Phillips spoke about Ms. Molly McCarthy, recipient of the Guard of the Year,
and presented her with a certificate and award.
Ms. McCarthy thanked the City.
Page 1 of 7
Agenda Item #1.A.
27 Sep 2021
Page 5 of 223
Regular City Commission
August 9, 2021
2B. Knights of Columbus Council 14866 presentation of Coats to Kids to The City of
Atlantic Beach Police Department.
City Manager Corbin explained the item will be addressed at a future meeting.
PUBLIC COMMENT
Mayor Glasser explained the process for public comments and opened the Courtesy of the Floor
to Visitors. City Clerk Bartle called each speaker to the podium.
Jane Stevens spoke about the Police budget and adding additional officers.
3 CITY MANAGER REPORTS
3A. Paid Parking
CM Corbin spoke about City of Neptune Beach's proposal for a 50/50 cost-share related
to 18th and 19th Street paid parking and answered questions from the Commission.
Discussion ensued. The Commission provided feedback and did not support accepting
a 50/50 cost-share.
3B. Accept the 90-Day Calendar
ACTION: There was CONSENSUS to accept the 90-Day calendar.
CM Corbin mentioned that the Parks and Recreation Department would be making changes to
some events and the after-school program as the City continues to monitor COVID-19.
4 REPORTS AND/OR REQUESTS FROM CITY COMMISSIONERS
4A. Mask Mandate (Mayor Glasser)
Mayor Glasser provided an outline and explained the topics on her handout highlighting
the following:
-Manager Form of Government in COAB
-AB Local State of Emergency (Sec. 2-403)
-COJ County Role
-State Legislation and Executive Orders and Changes
-Status of AB current Ordinances
-Calling Special Meetings
-Municipal issues
-Community issues
City Attorney Durden clarified the State law regarding hybrid meetings and physical
quorum requirements.
Commissioner Bole expressed his opinion of keeping the City workers safe by having
customers entering city buildings wear a mask.
Page 2 of 7
Agenda Item #1.A.
27 Sep 2021
Page 6 of 223
Regular City Commission
August 9, 2021
Commissioner Waters spoke about percentages of Covid-19 related illnesses. He
expressed his support of the Covid-19 vaccination, wearing a mask, and social
distancing.
Commissioner Norris spoke about the issues with enforcing an indoor mask mandate
for the City. She mentioned businesses have a right to enforce their own rules within the
establishment.
Commissioner Kelly expressed her opinion on non-vaccinated people not wearing
masks.
Commissioner Bole asked if the City could pass a mask mandate for public places on
behalf of the employees. CA Durden responded that a mandate could be passed using
the emergency orders in compliance with the new statutory provisions. CA Durden
explained that CM Corbin could regulate all employees to wear a mask if so desired.
Mayor Glasser spoke about good compliance, and at this time, a mask mandate may not
be necessary. CM Corbin explained if needed, the City is prepared to have workers work
remotely. He asked for clarification regarding enforcing the public wear masks when
entering public places such as City Hall. CA Durden responded that mandating mask-
wearing in public spaces could be done. A conversation ensued regarding what limits
the City Manager has regarding implementing mandates locally.
Commissioner Kelly spoke about school safety protocols. She expressed the City
should review the guidelines and development documents for safety and child
development.
Commissioner Waters spoke about the need for data regarding the impact of Covid-19
on children.
Commissioner Bole spoke about the upcoming hurricane season and how that could
impact the hospital system during Covid-19.
5 UNFINISHED BUSINESS FROM PREVIOUS MEETINGS
None.
6 CONSENT AGENDA
None.
7 COMMITTEE REPORTS
7A. New Appointments to the CDB and CARAC (Commissioner Norris)
Commissioner Norris explained Ms. Ellen Golombek confirmed her interest in
withdrawing from consideration for regular membership and wanting the alternate
position.
Page 3 of 7
Agenda Item #1.A.
27 Sep 2021
Page 7 of 223
Regular City Commission
August 9, 2021
Ellen Golombek confirmed she would like to withdraw her application for the full-time
regular membership and would like to be considered for the alternate position.
MOTION: Appoint Richard Schooling to the Community Development Board as a regular
member (#6 position) for the term ending December 31, 2021.
Motion: Brittany Norris
Second: Bruce Bole
Ellen Glasser For
Bruce Bole (Seconded By) For
Michael Waters For
Candace Kelly For
Brittany Norris (Moved By) For
Motion passed 5 to 0.
MOTION: Appoint Ellen Golombek to the Community Development Board as an alternate
member (#8 position) for the term ending December 31, 2023.
Motion: Candace Kelly
Second: Bruce Bole
Ellen Glasser For
Bruce Bole (Seconded By) For
Michael Waters For
Candace Kelly (Moved By) For
Brittany Norris For
Motion passed 5 to 0.
MOTION: Appoint Wally Sears to the Cultural Arts and Recreation Advisory Committee as
the Alternate Member (# 8 position) for a term ending December 31, 2023.
Motion: Candace Kelly
Second: Michael Waters
Ellen Glasser For
Bruce Bole For
Michael Waters (Seconded By) For
Candace Kelly (Moved By) For
Brittany Norris For
Motion passed 5 to 0.
Page 4 of 7
Agenda Item #1.A.
27 Sep 2021
Page 8 of 223
Regular City Commission
August 9, 2021
Mr. Wally Sears spoke.
8 ACTION ON RESOLUTIONS
8A. Resolution No. 21-43
A RESOLUTION OF THE CITY OF ATLANTIC BEACH AUTHORIZING A ONE-YEAR
AGREEMENT CONTINUING THE PROFESSIONAL SERVICES OF LANGTON
ASSOCIATES, INC.; AUTHORIZING THE EXPENDITURE OF $42,986.98
ANTICIPATED TO BE ALLOCATED IN THE FY 2021-22 BUDGETED; FOR THIS
PURPOSE; AUTHORIZING THE CITY MANAGER TO EXECUTE ANY CONTRACTS
AND PURCHASE ORDERS AS NECESSARY TO EFFECTUATE THE PROVISIONS OF
THIS RESOLUTION; AND PROVIDING AN EFFECTIVE DATE.
Mayor Glasser read the Resolution by title.
CM Corbin explained this is an extension of a contract with Langton Associates, and the
money is in the proposed budget. He said CA Durden suggested making amendments
to the Resolution as written, being that it is being approved before the new budget year.
Lisa King, Senior VP of Langton Associates, reported on the projects in the annual report
included in the agenda packet and answered questions. A conversation ensued regarding
possible grant funding for additional projects within the City.
CA Durden suggested the following amendments to the Resolution:
1) In the third line of the title, before "AUTHORIZING" insert "SUBJECT TO AND
CONTINGENT UPON INCLUSION OF FUNDING FOR THIS PURPOSE IN THE
FY21-22 CITY-APPROVED BUDGET," and
2) In the fifth line of the title, delete the semicolons after "BUDGETED" and
"PURPOSE" and add "AND" after "PURPOSE", and
3) In SECTION 1, add "Subject to and contingent upon inclusion of funding for this
purpose in the FY21-22 City-approved budget," at the beginning of the sentence.
8B. Resolution No. 21-44
A RESOLUTION OF THE CITY OF ATLANTIC BEACH AUTHORIZING THE CITY
MANAGER’S SIGNATURE ON THE STATE HIGHWAY LIGHTING, MAINTENANCE
AND COMPENSATION AGREEMENT BETWEEN THE CITY OF ATLANTIC BEACH
AND THE FLORIDA DEPARTMENT OF TRANSPORTATION.
Mayor Glasser read the Resolution by title. City Manager Corbin explained the
Resolution.
MOTION: Adopt Resolution No. 21-44.
Motion: Brittany Norris
Second: Michael Waters
Page 5 of 7
Agenda Item #1.A.
27 Sep 2021
Page 9 of 223
Regular City Commission
August 9, 2021
Ellen Glasser For
Bruce Bole For
Michael Waters (Seconded By) For
Candace Kelly For
Brittany Norris (Moved By) For
Motion passed 5 to 0.
9 ACTION ON ORDINANCES
None.
10 MISCELLANEOUS BUSINESS
10A. FY 2021-22 Budget Discussion
CM Corbin mentioned this is a continuation of a previous discussion regarding the
budget. He suggested adding a lump sum of $50,000 to be used towards a Traffic
Engineer. A conversation ensued regarding possible traffic studies and projects to be
organized by the engineer. It was suggested to have a future workshop to identify further
and prioritize projects to be completed.
CM Corbin and PC Victor Gualillo reported on Police Requests Effect on FY2022
Budget. Mayor Glasser suggested adding a Community Service Officer to be
responsible for writing minor tickets to assist with parking and quality of life issues.
CA Durden requested a $15,000 budget for work and legal expenses for the upcoming
Charter Review Committee.
Mayor Glasser asked City Clerk Bartle to gather information regarding the process of a
previous charter review, including how many meetings, the former Chair, and any details
about the process.
10B. Remove Parking at 18th Street
CM Corbin reviewed a PowerPoint presentation regarding the 2014 FDEP Beach
parking Inventory. He spoke about how many parking spots could be removed and still
comply with the cost-share funding Beach Renourishment amount. He said up to four
parking spaces could be removed without affecting the Beach Renourishment
requirements.
Commissioner Kelly expressed her opposition to removing any car parking spaces.
Commissioner Norris indicated she does not support removing any parking spaces as it
would not make a significant difference.
Commissioner Bole expressed his opposition to removing any parking spaces.
Page 6 of 7
Agenda Item #1.A.
27 Sep 2021
Page 10 of 223
Regular City Commission
August 9, 2021
Commissioner Waters explained 18th Street had been oversaturated for a long time, and
removing spaces would help. He suggested removing bike racks and converting spaces
to golf cart parking.
Mayor Glasser asked about the two handicap spots. CM Corbin explained the spaces are
used regularly. She expressed she would not mind removing parking spaces on 18th
Street to help with the area congestion.
There was consensus of the Commission to remove two of the six bike racks.
There was consensus of the Commission to keep all parking spaces at 18th Street.
11 CITY ATTORNEY/CITY CLERK REPORTS AND/OR REQUESTS
None.
12 CLOSING COMMENTS BY CITY COMMISSIONERS AND CITY MANAGER
Commissioner Kelly reminded everyone school starts tomorrow and to obey the speed limit.
Mayor Glasser mentioned she would be attending the upcoming Florida League of Cities
Conference to accept a grant on behalf of the City to help make parks more ADA friendly and
add a music park. She spoke about considering the Blue Zones as a stated priority, and COAB
would be part of the project area.
CM Corbin said things are going well within the City, except for the recent uptick of Covid-19.
13 ADJOURNMENT
The meeting adjourned at 8:39 p.m.
Attest:
Donna L. Bartle, City Clerk Ellen Glasser, Mayor
Date Approved: _____________________
Page 7 of 7
Agenda Item #1.A.
27 Sep 2021
Page 11 of 223
Page 12 of 223
CITY OF ATLANTIC BEACH
CITY COMMISSION IVIEETING
STAFF REPORT
AGENDA ITEIVI:90~Day Calendar for the l\/[ayot and Commission
SUBMITTED BY:Yvonne Calverlezy,Executive Assistant to the City !\/
Ian
age
r/
ycl
TC)DAY’S DATE:September 13,2021
l\’lEETING DATE:September 27,202 1
BACKGROUND:The 90-day calendar is included on the agenda for the pur
pos
e
ofsetting
meeting dates and deterinining the location,time and wh
eth
er
to
videotape special meetings and workshops.
The rolling 90-day calendar will be revised a?er receiving inpu
t
from
City staff‘and the Commission,and will be included in e
a
c
h
agendafor
consideration.
Sgecial Notes:
-A Town Hall B/[eeting is scheduled for Saturday,October 16
at the Jordan Park Cornrnunity Center frorn 10 am to
BUDGET:None
RECOIVIR/IENDATION:Approve the 90»Day Calendar for October through Decem
ber
2021.
ATTACI-INIENT:1)l\/Iayor and Cominission 90-Day Calendar (October th
ro
u
g
h
December2021)
'J
REVIEWED BY CITY MANAGER:13.1/Li-us;'Agenda Item #3.A.27 Sep 2021Page 13 of 223
MAYORANDCOMMISSION
October2021
SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY
1 2
.1 4 J 6 '3 9
ll)11 12 13 ESCTreeMtg 14 15 16
CommissionMug 5:13pm TomiHallMeeting
6:30pm ESCMeetingopin 10amtoNoon
(ImC_Ke1M DueDateforW25 (JordanPark)
'Agenda
17 18 19 20 21 22 23
Community ESCOutreach
DevelopmentSubcommittee
Board6pm 6:30pm
24 25 26 2"28 29 30
CommissionMtg ESCI-FED
530pm SubsommmeeDueDateforll/8
(Invoc-Norris)Meemg11am Agenda
31
Agenda Item #3.A.27 Sep 2021Page 14 of 223
MAYORANDCOMMISSION
November2021
TUESDAY \i’i"EDI\‘ESD.v\"i'TH1JRS1'JAi'
1 2 3 4 5 6
CodeEnforcement
SpecialMagistrate
Meeting-2pm
7 3 9 10 11 12 13
Commission 539T196Mtg VeteransDay
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(Invoc-Mayor)Agenda Closed
14 15 16 17 18 19 20
Community ESC
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BoardMtg Meeting6:30pm 630pm
6pm
Z1 Z2 Z3 Z4 25 26 27
CommissionESCLEED
Meeting Subcommittee CityOffices CityOf?ces
5330Pl“Meeting11am Closed Closed
(Invoe-Bole)Agenda Item #3.A.27 Sep 2021Page 15 of 223
MAYORANDCOMMISSION
DueDatefor
12/13Agenda
8
ESC
TreeSubcommittee
5:|5 pm
ESCMeeting
6pm
13 -15
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CommissionMtg 'subcommittee
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(Invoc-Waters)
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BoardMtg
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Agenda Item #3.A.27 Sep 2021Page 16 of 223
,=..1972 —East Duval Mosquito Control District
'Landfill Map
,/«.
\..-'-'-
Ditch System Constructed 1958-1959 for Tidal Flushi
to Upper Marshes of Water Holding Depressions
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Agenda Item #3.D.27 Sep 2021Page 17 of 223
1972 —East Duval Mosquito Control District
Land?ll Map Overlays on Aerial Photo
Hisbmial amen Mapannun:coumyIloiquim Control uisuia -1972
Agenda Item #3.D.27 Sep 2021Page 18 of 223
Estimated Cost of Trash Remediationfor Construction
Mobilization,S&E Control
Tree Removal &Gruhbing
Tree Mitigation
Trash Removal 8.Sifting
Trash Hauling &‘?ipping
Clean Fill
Subtotal:
Contingency
Total:
Quantity
2000
2000
2000
25.0%
Unit
l29995
Cost
5 10.000
5 10,000
5 10,000
$20
$19
S 20
Total Cost
5 10.000
5 10,000
$10,000
5 40,000
5 38,000
$40,000
$148,000
5 33,250
$186,250
Tipping Fee =S 30
Density:600
or Disposal
Cost:5 9
Haul Cost =10
/ton
it/CV
/CY
/CY
Agenda Item #3.D.27 Sep 2021Page 19 of 223
Page 20 of 223
CITY OF ATLANTIC BEACH
FINANCIAL REPORT
As OF AUGUST 31,2021
(92%or YEAR ELAPSED)
V-T»D Total Citywide Budget
Budget Ye
ar-
to
—
Da
te
9e
Revenues $39,028,483 $
41
,
58
3,
51
6
106.5%
use of Fund aaiance 5 6,441 ,494 s —
Expenditures 545,469,977 5 65.2%
Revenues +Fund Balance «Expenditures $.5 1323
,
596
Revenues continue to trend 13%above the 83%year lapsed.
Expenditures are 25.6%below the 33.395 year Lapsed.
Resource Allocation
Budget Ye
ar
—
to
—
Da
te
9s
Personnel Services 12,209,446 85.6%
operating Expenses 1 7,586,503 1,
4os
,
o35
64.996
Capital Outlay 10,730,353 1,
3u
1
,o5712.1%
Debt service 2,1 94,694 2
,
1
76,52099.2%
Transfers 4.698.981 4
,
3
2
4
,
5
5
5
92.0%
Resources Exgended
Capital ouuay.i,3oi,os7
Agenda Item #6.A.27 Sep 2021Page 21 of 223
CITY OF ATLANTIC BEACH
GENERAL FUND
General Fund
Revenues Budget Year-to-Date %
Taxes 7,548,185 7,091 ,309 93.9%
Licenses,Permits,Fees 854,039 564,958 66.2%
Intergovernmental Revenue 2,167,429 2,036,491 94.0%
Charges for Services 2,649,496 2,112,171 79.7%
Fines &Forfeitures 54,681 49,996 91.496
Interest 180,000 38,699 21.5%
Dispostion of Fixed Assets 25,000 4,1 98 16.8%
Miscellaneous 9,525 62,581 657.0%
lnterfund Transfers In 212,843 195,107 91.796
Contributions from Enterprise Funds 1 ,265,254 1 ,159,819 91.7%
Total Revenues S 14,966,452 5 13,315,329 89.0%
Expenditures Budget Year—to-Date %
Governing Body 51 ,707 40,1 1 9 77.6%
City Administration 3,205,438 2,694,878 84.1%
General Government 907,1 45 704,688 77.7%
Planning 339,800 297,147 87.4%
Public Safety 7,546,065 6,305,057 83.6%
Public Works 3,1 30,375 2,250,349 71.9%
Recreation Prograrnsl Events 546,001 366,237 67,1%
Total Expenditures S 1 5,726,531 5 1 2.658.475 80.5%
Year-To-Date General Fund Expenditures
Rec.-eanon Governing Body,
Programs/Events,40,119
355,237
Public Works,
2,250,349
General
70
4.
53
8
-
Planning,29
7,
14
7
Agenda Item #6.A.27 Sep 2021Page 22 of 223
CITY OF ATLANTICBEACH
SPECIALANDENTERPRISEFUNDS
REVENUESAND EXPENDITURES
Budget Year-to-Date %Revenues Budget Year-to-Date %
Revenues 2,291,597 1,331,241 58.1%Fees &Permits 461,350 431,920 93.6%
Transfers In 1,400,884 1,117,470 79.8%Miscellaneous 18,166 2,337 12.9%
Total Revenues 3,692,481 2,448,711 66.3%Total Revenues S 479,516 S 434,257 90.6%
Expenses
Expenditures 3,385,770 680,289 20.1%Protective Inspections 582,916 486,444 83.5%
Transfers Out 1,398,727 1,115,501 79.8%
TotaIExpenditures S 4,784,497 S 1,795,790 37.5%
Revenues Budget Year-to-Date %Revenues Budget Year-to-Date %
Charges for Services 3,668,197 3,357,431 91.5%State Grant --0.0%
Miscellaneous 94,915 101,808 107.3%Charges for Services 5,810,729 5,565,239 95.8%
Transfers In 900,000 825,000 91.7%Miscellaneous 50,050 9,038 18.1%
Total Revenues S 4,663,112 S 4,284,239 91.9%Transfers In 600,000 550,000 91 .7%
Expenses Total Revenues S 6,460,779 S 6,124,277 94.8%
Expenses 4,851,599 2,315,271 47.7%Expenses
Debt Service 553,282 514,936 93.1%Expenses 6,000,730 3,379,033 56.3%
Transfers 391,373 358,757 91 .7%Debt Service 1,296,705 924,010 71.3%
Total Expenses S 5,796,254 S 3,188,964 55.0%Transfers Out 623,435 581,437 93.3%
TotalExpenses S 7,920,870 S 4,884,479 61.7%
Water System Dev Fees
Revenues -Fees E:Permits 150,000 31,053 20.7%Sewer System Dev Fees Budget Year-to-Date %
Transfers Out 900,000 825,000 91 .7%Revenues -Fees &Permits 450,000 96,173 21.4%
Transfers Out 600,000 550,000 91 .7%
--a Police Officers’ension Trust Fund
Revenues Budget Year-to-Date %Revenues Budget Year-to-Date %
Intergovernmental Revenue 1,500,000 67,726 4.5%Taxes 136,427 274,267 201.0%
Charges for Services 894,998 822,977 92.0%Miscellaneous 499,156 3,478,319 696.8%
Miscellaneous 1,471 4,241 288.3%Contibutions 1,020,027 952,738 93.4%
Transfers In 285,000 261,250 91 .7%Total Revenues S 1,655,610 S 4,705,324 284.2%
Total Revenues S 2,681,469 S 1,156,194 43.1%Expenses
Expenses Administration 82,471 88,690 107.5%
Flood Control 3,334,516 908,292 27.2%Pension Benefits 785,612 637,425 81.1%
Debt Service 223,817 223,816 100.0%Total Expenses S 868,083 S 726,115 83.6%
Transfers Out 400,000 366,663 91 .7%
Total Expenses S 3,958,333 S 1,498,771 37.9%
..--General Employees Pension Trust Fund
Revenues Budget Year-to-Date %Revenues Budget Year-to-Date %
Fees E1Permits 44,504 70,640 158.7%Miscellaneous 991,491 5,989,142 604.1%
Charges for Services 1,879,198 1,764,414 93.9%Contibutions 1,347,148 1,163,764 86.4%
Total Revenues S 1,923,702 S 1,835,053 95.4%Total Revenues S 2,338,639 S 7,152,906 305.9%
Expenses Expenses
Expenses 1,749,670 1,330,618 76.0%Administration 124,148 126,841 102.2%
Transfers Out 339,584 311,289 91 .7%Pension Benefits 1,309,094 1,277,134 97.6%
TotalExpenses S 2,089,254 S 1,641,907 78.6%Total Expenses S 1,433,242 S 1,403,975 98.0%Agenda Item #6.A.27 Sep 2021Page 23 of 223
CITY OF ATLANTIC BEACH
MISCELLANEOUSINFORMATION
Total Revenues Received in FY20 $52,822.75
October 2020 3,784.28
November 2020 3,279.58
December 2020 3,694.36
January 2021 4,252.58
Feburary 2021 3,338.72
March 2021 4,897.03
April 2021 6,915.09
May 2021 8,504.93
June 2021 7,557.31
July 2021 87,462.85
August 2021
September 2021
Total $186,509.48
Location:May June July
Lemon/1st St.$1,329.58 $1,063.86 $1,029.35
Ocean Blvd/Ahern 2,640.05 2,153.45 3,140.45
Meter ID 363300002 3,335.50 3,119.20 3,350.20
Meter ID363300003 1,199.80 1,220.80 1,204.00
$8,504.94 $7,557.31 $8,724.00
Beginning Fund Balance $77,731.27
Revenues (Oct through August)25,248.55
Expenditures (Oct through August)(2,550.00)
Ending Fund Balance $100,429.82
Oct -Jan FY19 FY20 FY21
Miscellaneous Recreation Charges $50.00 $-$20.00FlagFootball520.00 480.00 —Summer Camps 2,490.00 -670.00ArtShows4,725.00 4,450.00 0.25FacilityRental19,200.00 22,950.00 34,218.00DogPark6,885.00 3,745.00 11,020.0033,870.00 31,625.00 45,928.25 Agenda Item #6.A.27 Sep 2021Page 24 of 223
CITY QF ATLANTICBEACH
FINANCIALREPORT
Current
Fund Prior 7/31/21 8/31/21 Dollar Change
General S 8,459,169 S 8,329,502 S (129,666)
Community Development Block Grant (97,907)(97,907)-
Tree Replacement 100,430 100,430 —
Pay for Parking Revenue Fund 91,489 99,047 7,557
Convention Development Tax 178,956 169,119 (9,837)
Local Option Gas Tax (197,725)(199,497)(1,772)
Better Jax 1/2 Cent Sales Tax 1,369,784 1,432,171 62,387
Police Training,Forfeiture,Grants,Etc.142,826 142,587 (239)
Community Redevelopment 1,860 1,860 -
Debt Service (39,993)(29,919)10,074
Capital Projects 2,010,583 2,097,784 87,201
Water 7,783,342 7,886,679 103,337
Sewer 4,817,705 4,977,115 159,410
Sanitation 782,582 900,551 117,969
Building Code Enforcement 337,585 337,322 (263)
Stormwater 507,193 505,893 (1,300)
Pension -Police 16,384,341 16,903,911 519,569
Pension —General 26,913,880 27,280,898 367,018
Total S 69,546,100 S 70,837,546 $1,291,445
Total Restricted Cash
Total Unrestricted Cash
S 61,180,259
S 9,657,287
Prior Current
Account 7/31 /21 8/31 /21 Dollar Change
Bank of America Depository S 11,651,983 S 10,805,737 S (846,246)
Corporate Fixed Income-Morgan Stanley 5,382,174 5,271,711 (110,463)
Government Securities —Morgan Stanley 11,863,063 11,911,044 47,981
Cash,BDP,MMF—Morgan Stanley 139,963 180,658 40,696
SBA -Florida Prime 24,554 24,562 8
Cash On Hand 3,950 3,950 -
Police Pension Investments S 15,560,141 S 15,922,657 S 362,515GeneralPensionInvestments26,735,866 27,363,108 627,243SubtotalS42,296,007 S 43,285,765 S 989,758TotalS71,361,693 S 71,483,427 S 121,734 Agenda Item #6.A.27 Sep 2021Page 25 of 223
Page 26 of 223
CITY OF ATLANTIC BEACI-I
CITY COIVIIVIISSION l\/IEETING
STAFF REPORT
AGENDA ITEIVI:Resolution No.21-53 to av/ard Bid 202 l »l 6:l\/illling and Paving 20
21
SUBMITTED BY:Scott Williams.Public VVol'ks Director
TODAY’S DATE:September 9.202]
IVIEETING DATE:Septalhber 27,2021
BACKGROUND:On September 3,202i three Bids were opened For Bid 202I»l6:Nlil
ling
and
Paving 2021.The total bid prices (including 10%contingency)received ranged from $
3
5
5
,
4
3
3
.
7
3
to
$4l6,08().78,with Jax utilities l\/lanagement submitting the low bid.The project scope of istoMill
1 to 1.5”orAsphalt and Apply 1 to 1.5“orType S-III Asphalt at the following locations:
Cruiser Lane (/Porn Bzlvedere St.to ctIl—de-Sac)
Belvedei-e street (/i-om seospray Ave.to I’iki)1gs Ln.)
w.9-“street (?'orn /I/Iain St.to Calnelia St.)
W.3'“Street 06-om Main St.to Camelia Sr.)
4'“Street (/I-om SheI'Iy Dr.to Easl Coast Dr.)
sturd ant Avenue (from Sylvan Dr.to Sherry Dr.)
I 1"‘Street (?-om East Coast Dr.to Ocean Blvd.)
Barefoot Trace (?‘ou1 oceamvalk Dr.s.to N.)
oak Circle oi-om 19'"S1.to cz1I—de-sac)
Fiddlers Lane (?-cm cu/-de-sac to Oceanwalk Dr.N.)
Plaza Drive 0‘i'an1 Sailfish Dr.E.to Seminole Rd.I'ourr:Iaba1.II)
Ocean Boulevard morn 13"’S1.la 16"‘St.)
Existing Parking Lot Aiea at the Tennis Courts at Russell Park (overlay onl
y)
~3535.v>9=.<sw.M=N-
Double yellow striping and stop bars are included in the bid price at speci?c locations wheie tcurrentl
yexist.Valve box and/or manhole cover adjustrnents are included in the bid price.The Contr
actor
willbe
given 60 calendar days to complete the project afler receipt or vvritten Notice to Proceed.
BUDGET:This project is funded rrorn the Local option Gas Tax Fund Account 130-
5002-
S4l<
3400
($200,000)and from the Better Jax -/2 cent Sales Tax Account 13 l—5002—54l—63()O ($100,000)foratotal
of $3oo.ooo allocated for FY2021.The additional $55,433.78 has been added to account 1-
500
2-
541
-
6300 from savings rrorn two other projects in the Better Jax V:cent sales Tax Account,speci?cal
ly
$31,735
from project PW2 1 ol for the Seminole Rd.Bike Path Project and $23,300 frorn project PW2l02rorRight-
of~Way Parking Pads.
RECOIVIBJENDATION:Award Bid 2021-16 to Jax Utilities l\/isnagenienl,Inc.in t alnou
nt
of
$355,433.78,and autho e the City l\/lanager to execute the contract.
ATTACHMENTS:Resolution No.21-53
Bid 202!-I6 Bid Analysis
Bid 2021-I6 Bid Tabulation
Street Map
REVIEVVED BY Cl’I‘Y l\/IANAGER:Agenda Item #8.A.27 Sep 2021Page 27 of 223
RESOLUTION NO.21-53
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,FLORIDA,
AWARDING BID 2021-16 FOR THE MILLING AND PAVING 2021
PROJECT.
WHEREAS,on September 8,2021 three bids were received and opened for City Bid
2021-16 Milling and Paving 2021;and
WHEREAS,the total bid prices (including 10%contingency)received ranged from
$355,433.78 to $416,080.78;and
WHEREAS,Jax Utilities Management,Inc.is the low bidder,and they submitted all required
documents in their bid submittal;and
WHEREAS,the project consists of furnishing all labor,equipment and materials required to
mill existing pavement and provide new paving on the street segments described in the bid
specifications and staff report;and
WHEREAS,the Contractor will be given sixty (60)days to complete the project;
WHEREAS,this project is fully funded from the Local Option Gas Tax Fund Account 130-
5002-541-3400 ($200,000)and from the Better Jax ‘/2Cent Sales Tax Account ($155,433.78)for a
total of $355,433.78.
NOW THEREFORE,be it resolved by the City Commission of the City ofAtlantic Beach as
follows:
SECTION 1.The City Commission hereby awards Bid #2021-16 to Jax Utilities
Management,Inc.in the amount of $355,433.78 (includes 10%contingency)for the Milling and
Paving 2021 project in accordance with the bid specifications.
SECTION 2.The City Commission hereby authorizes the City Manager to execute the
Contract with Jax Utilities Management,Inc.
SECTION 3.This Resolution shall take effect immediately upon its passage and adoption.
PASSED AND ADOPTED by the City of Atlantic Beach,this 27”‘day of September,2021.
Ellen Glasser,MayorAttest:Donna L.Bartle,City ClerkApprovedastoformandcorrectness:Brenna M.Durden,City Attorney Agenda Item #8.A.27 Sep 2021Page 28 of 223
City of Atlantic Beach
Milling and Paving 2021
Wednesday,September 08,2021
BID #2021-16 3:00 PM
Duval Asphalt Jax Utilities Management Preferred Materials
Required Documents
X XSubmissioninTriplicate
_X XDocumentRequirementsChecklist
X XW-9 Form
X XBidForm
_X XBidBond-5%of Bid
X XDrugFreeWorkplace
X XPublicEntityCrimesStatement
_X XPublicRecordsProvisionForm
X XE-Verify Form
_X XNewVendorInformation
_X X XProofofExperience-5 years
X X XProofofQuali?cation -licenses if required
Financials -past 2 years
Insurance
References -3
Confirmation of Addenda -2
Grand Total -Base Bid Plus Contingency $416,080.78 $355,433.78 $409,957.44
Preferred Materials:There was a difference of $3.30 between their written bid,and calculated bid.
Award of Bid based on Department Analysis and City Manager and/or Commission Approval Agenda Item #8.A.27 Sep 2021Page 29 of 223
MILLING AND PAVING 2021 FOR PUBLICWORKS DEPARTMENT
BID 2021-16
MILLAND PAVE AT THE FOLLOWING LOCATIONS:
Bid
Item Duval Asphalt Jax Utilities Management Preferred Materials
MILL1"ASPHALT AND APPLY 1 'OF TYPES-3 ASPHALT AT THE FOLLOWING LOCATIONS:
Length =605 LF /Width =24 LF
“Includes 2 manholes &1 stop bar"
Belvedere St.(from Seaspray Ave.to Vikings Ln)
Length =464 LF/Width =24 LF
“Includes 2 manholes,2 water valves &1 sto -
$21,600.00 $20,828.09 $24,062.04
$18,900.00 $15,973.93 $20,940.80
“Includes 2 $10,500.00 $7,163.63 $14,916.86
$10,500.00 $7,100.50 $15,818.32
**lncludes 2 stop bars"
4th St.(from Sherry Dr.to East Coast Dr.)
Length =936 LF/Width =17 LF
**|ncludes 4 manholes &2 stop bars“
Sturdivant Ave.(from Sylvan Dr.to Sherry Dr.)
Length =801 LF/Width =24 LF
**|ncludes 2 stop bars &732 LF double yellow striping“
11th St.(from East Coast Dr.to Ocean Blvd.)
Length =224 LF /Width =20 LF “Includes 2
$25,000.00 $22,824.88 $27,788.46
$30,000.00 $27,575.76 $26,960.14
$10,500.00 $6,426.34 $14,305.92
Length =1704 LF/Width 24 LF
“‘*|ncludes 6 manholes &2 stop bars"
Oak Cir.(from 19th St.to cu|—de-sac)
Length =274 LF/Width =24 LF
"Includes 1 stop bar”
1 -ers n cu e-sac to ceanwa
Length 540 LF/Width 24 LF
“Includes 2 manholes &1 stop bar“
$64,500.00 $58,663.04 $41,276.32
$14,000.00 $9,432.95 $21,864.56
$22,800.00 $18,590.40 $21,952.98
MILL1.5"ASPHALT AND APPLY 1.5"OF TYPES-3 ASPHALT AT THE FOLLOWING LOCATIONS:
Plaza Dr.(Sail?sh Dr.E.to Seminole Rd.roundabout)Length
=1805 LF/Width —24 LF “Includes 2
manholes &1 stop bar"
580,000.00 $85,737.55 $70,880.26
Agenda Item #8.A.27 Sep 2021Page 30 of 223
Ocean Blvd.(from 13th St.-16th St.)
Length =901 LF/Width =21 LF "Includes 1
stop bar &850 LF double yellow stripin**
I—‘
OVERLAY1.5"OF TYPES-3 ASPHALTAT THE FOLLOWINGLOCATION:
Existing Parking Lot Area at the Tennis Courts Russell Prk
Length=217 LF/Width varies from 12 to 35 LF,includes 12 $10,000.00 $8,247.00 $16,933.00parkingspaces
**Over|ay only"
H I-1U1-b W N
UNIT PRICING FOR MISCELLANEOUSBID ITEMS:
QTY
/UNIT
11 /EA
2/EA
UNIT
COST
$1,800.00
$1,000.00
QTY
/UNIT
11 /EA
2/EA
UNIT
COST
$250.00
$75.00
QTY UNIT
I UNIT COST
11/EA $900.00
2/EA $900.00
EXTENDEDCOST EXTENDED COST EXTENDED COST
I-‘
Manhole Adjustments $19,800.00
$2,000.00
$2,750.00
$150.00
$9,900.00
Water Valve Adjustments $1,800_00
Stop Bars 17 /EA $95.00 $1,615.00 17 /EA $90.00 $1,530.00 17/EA $100.00 $1,700.00
I-‘O’?
17 Double Yellow Striping 3387/LF $0.75 $2,540.25 3387/LF $0.05 $169.35 3387 /LF $2.00 $6,774.00
BASEBIDTOTAL $378,255.25 $323,121.62 $372,691.58
10%CONTINGENCYOF BASE BID TOTAL $37,825.53 $32,312.16 $37,z69_16
TOTAL (BASE +10%CONTINGENCY)$416,080.78 $355,433.78 $409,950.74
PreferredMéteIri.a!$:A.mathém=sti¢a|,errotwasfo?nda.s.t.hé3rwritten.bidtotalwas$407,957.-44Iforadifference.of$330.-,Agenda Item #8.A.27 Sep 2021Page 31 of 223
ReolutionNo.21-53 '
Bid 2021-16:Milling &Paving 2021
5‘E
1.Cruiser Lane
2.Belvedere Street (from Seaspray Ave.to Vikings Ln.)
3.W.9th Street (from Main St.to Camelia St.)
4.W.3rd Street (from Main St.to Camelia St.)
5.4th Street (from Sherry Dr.to East Coast Dr.)f’1».ii6.Sturdivant Avenue (from Sylvan Dr.to Sherry Dr.)
j Selected Roads
7.11th Street (from East Coast Dr.to Ocean Blvd.)
8.Barefoot Trace
9.Oak Circle
10.Fiddlers Lane
11.Plaza Drive (from Sail?sh Dr E to Seminole Rd)
12.Ocean Boulevard (from 13th St.to 16th St.)
13.Parking Lot at Russell Park Tennis Courts
,,.1 .
pnnnm IIIIIIIIIIIIIIIIIIIIIIII Ill-|Agenda Item #8.A.27 Sep 2021Page 32 of 223
AGENDA ITEM:
SUBMITTED BY:
TODAY’S DATE:
MEETING DATE:
BACKGROUND :
BUDGET:
CITY OF ATLANTIC BEACH
CITY COMMISSION MEETING
STAFF REPORT
Renewal of Liability and Workers’Compensation Insurance
Cathy Varian,Director of Human Resources
September 13,2021
September 27,2021
This year,Harden and Associates,our insurance broker,submitted RFPs to
both Trusts that provide liability and workers’compensation coverage to
municipalities:Preferred Governmental Insurance Trust—PGIT (incumbent
carrier for Property/Crime/General Liability/Law Enforcement
Liability/Public Of?cials &Employment Practices Liability/Auto,as well
as Workers Compensation)&Florida Municipal Insurance Trust FMIT
(prior carrier for Workers Compensation)for all lines of coverage handled
by the Trusts.Both PGIT and FMIT provided competitive options.
Fiduciary,Flood and Statutory AD&D were also marketed to ten other
entities that provide coverage.Flood and Pollution,which do not renew
until 11/1,have not yet been received.A 10%increase has been anticipated
and budgeted for those coverages.
We anticipated a tough renewal process.This last year has seen the market
tighten tremendously due to several factors,including COVID-19.In
addition,we had increases in our payroll and insured values in several
categories.We anticipated anywhere from a 10-20%increase and came in
at 13%.
The City would like to move forward with PGIT for all lines.This
represents a 13%increase ($59,168)in premiums from the expiring
policies (not including Flood and Pollution.A summary of the key PGIT
advantages are as follows:
>The City has enjoyed great workingrelationship with PGIT claims and
Protection including sub—limitsof coverage for Crisis Management,Counseling Services,Funeral Expenses.This represents a 13%increase ($59,168)in premiums from last year(excluding ?ood and pollution)and a 3%increase in what was budgeted forthisyear’s premiums (again,excluding ?ood insurance premiums of Agenda Item #8.B.27 Sep 2021Page 33 of 223
approxin-lately $1 1,000).
RlZCOl\’[l\’lI‘3NDA'l‘I()N:Approve renewal of all liability insurances and Workers’
cornpeusation insurance with Preferred Governnaental Insurance Trust for 202 1-2022
authorize the City 1\/Ianager to sign all related renswal docuxncnts.
ATTACHMENT:Resolution No
REVIEVVED BY CITY MANAGER:Agenda Item #8.B.27 Sep 2021Page 34 of 223
RESOLUTION NO.21-54
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,FLORIDA,
APPROVING RENEWAL OF ALL LIABILITY INSURANCES AND
WORKERS’COMPENSATION INSURANCE WITH PREFERRED
GOVERNMENTAL INSURANCE TRUST FOR 2021-2022,AND
AUTHORIZING THE CITY MANAGER TO EXECUTE THE
MEMORANDUM OF UNDERSTANDING.
WHEREAS,the City of Atlantic Beach currently has a contract in place with the Preferred
Governmental Insurance Trust (PGIT)for general liability and workers’compensation insurances;
and
WHEREAS,the City’s insurance broker,Harden and Associates,submitted RF P’s to both
Insurance Trusts providing coverage to municipalities for all lines general liability and workers’
compensation insurances;and
WHEREAS,both Trusts responded with very competitive options;and
WHEREAS,the option provided by PGIT for all lines is preferable to the City for several
reasons,including the rate quotes,the positive on—goingworking relationship,the fact that PGIT
provides full prior acts coverage for Public Of?cials and Employment Practices Liability coverage
and the PGIT program now provides $1,000,000 of Deadly Weapons Protection including sub-
limits of coverage for Crisis Management,Counseling Services and Funeral Expenses;
WHEREAS,this option represents a 13%increase ($59,168)in premiums from the
expiring policies (excluding ?ood insurance,which is still pending,but is expected to increase
10%for a total premium of about $11,000),and a 3%increase in what was budgeted for this year’s
premiums (again,excluding ?ood insurance premiums of approximately $11,000);
NOW THEREFORE,be it resolved by the City Commission of the City of Atlantic Beach
as follows:
SECTION 1.The City Commission hereby approves renewal of all lines of liability
insurances and workers’compensation insurance with Preferred GovermnentalInsurance Trust;
SECTION 2.The City Commission hereby authorizes the City Manager to sign all related
renewal document.
PASSED AND ADOPTED by the City of Atlantic Beach,this 27th day of September,
Ellen Glasser,MayorAttest:Approved as to form and correctness:Donna L.Bartle,City Clerk Brenna M.Durden,City Attorney Agenda Item #8.B.27 Sep 2021Page 35 of 223
Page 36 of 223
AGENDA ITENI:
SUBR/IITTED BY:
TODAY’S DATE:
l\’[EETlNG DATE:
BACl(GROUN D :
BUDGET:
RECOIVIIVIENDATION:
ATTACHNIENTS:
CITY OF ATLANTIC BEACH
CITY COl\/IIVIISSION NIEETING
REPORT
Retroactive Pay Increase for the City Clerk
Catherine Varizin,Esq.,l—lurnan Resources Di:-
ecnouc
v
sepcember 14,2021
Septernber 27,2021
"[116 City Clerk is an appointed pos (ion with the City C0n1l
T1iSSl
Ol1
establishing the salary each year.
The last pay increase approved for the City Clerk was Octob
el‘
1.2019.
In past years,pay raises for the City Clerk have been consist
ent
with
those given to other general ernployees.
Based on the approval or me 20-21 budget and City l\/Ianager,
general einployees were given a 3%increase effective 10/1 /
2
0
2
0
.
Sufficient funds are included within the budget,
Approve a.salary increase of 3%for the City Clcx'k effec
tive10/1/20 and authorize retroactive pay on the October 8
.
2
0
2
1
paycheck.
REVIEWED BY CITY MANAGER:‘Agenda Item #8.C.27 Sep 2021Page 37 of 223
RESOLUTION NO.21-55
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,FLORIDA
APPROVING A 3%SALARY INCREASE FOR THE CITY CLERK,
RETROACTIVE TO 10/1/2020.
WHEREAS,the city clerk is a Charter Of?cer whose rate of compensation is set by the
Commission;and
WHEREAS,the last pay increase approved for the city clerk was October 1,2019 and
WHEREAS,the FY 2020-2021 budget includes funds needed to provide a 3%pay increase
for the city clerk,retroactive to October 1,2020;and
NOW THEREFORE,be it resolved by the City Commission of the City of Atlantic Beach
as follows:
SECTION 1.The City Commission approves a 3%salary increase for the city clerk,
retroactive to October 1,2020,and authorizes the payment of retroactive pay on the October 8,
2021 paycheck.
SECTION 2.This Resolution shall take effect immediately upon its passage and adoption.
PASSED AND ADOPTED by the City Commission of Atlantic Beach,this 27”‘day of
September,2021.
Ellen Glasser,Mayor
Attest:
Approved as to form and correctness:
Donna L.Baltle,City Clerk Brenna M.Durden,City Attorney
Agenda Item #8.C.27 Sep 2021Page 38 of 223
CITY OF ATLANTIC BEACH
CITY CONIIVIISSION NIEETING
STAFF REPORT
Public Iiearings on adopting,Resolution No.21 ~52 for the lv
iil
la
g
e
Rate
and adopting Ordinance 20»21—161 establishing the Operati
ng
BudgetFor
?scal year 2021/2022.
AGENDA ITEIVI:
SUBMITTED BY:Melissa Burns,Director ofFinance ll?f
TODAY’S DATE:Septelnbcr 14,2021
MEETING DATE:September 27.,2021
BACKGROUND:In order to adopt a millage rate and operating budget,the Colnr
nissio
n
rnusl adhere to a strict process per state law.Attached is an outline for the public hearings tobeheldon
September 27"‘in the C0l1]l]|lSSlO?Charnbers at 6:30pm.The fornnat is the salnc as n pr
evi
ou
s
yearsand
is to be read into the record as presented in order to assure compliance with the TRIIVI (s.200.
06S.F.S.).
Prior to these hearings.the City l\/lanager presented a Proposed Operating Btldgel;held tw
o
workshop
sanddiscussionsatregularCornrnissionlneelingstoreviewandmakeadjustrnentstotheb
u
d
g
et
withthe
City Commission’s guidance.The Proposed Operating Budget is funded using the n1illl-
age
rateof3.2285
lrlills.This is the same as the current rate.
This is the second public hearing for the ?nal adoption or the nlillage by resolution and aseco
nd
public
hearing for the ?nal adoption or the C)perating Budget,Ordinance 202 I -161.
BU DGET:None
RECONINIENDATION:Hold two public hearings as described in the attached out
lin
e
toapprove
both the ?nal l\/Iillage Rate of3.2285 mills and the Operating Budget Ordinance 20~2l
—l61
withtotal
expenditures of $54,640,926.
ATTACHl\/[ENT(S):Outline for Public Hearings
Rt.olution No.21-52
Ordinance 20~2 I —1 6]
L K:,;_2 Proposed Buapei —()nlIn(:Version
REVIEWED BY CITY MANAGER:
..
'Agenda Item #8.D.27 Sep 2021Page 39 of 223
ADOPTION OF THE FINAL MILLAGE RATE AND OPERATING BUDGET FOR
FISCAL YEAR 2021/2022
First item to be considered:
Adoption of the Millage Rate by Resolution 21-52
State the following:
The Tentative Millage Rate is 3.2285
The Roll-Back Rate is 3.0836
The Tentative Millage Rate is 4.70%higher than the Roll-Back Rate.
The purpose for adopting the millage rate of 3.2285 is to maintain a level of ad
valorem tax revenue suf?cient to maintain adequate funding for the existing level
of services at the estimated cost and to continue to maintain the City’s
infrastiucture.
Open Public Hearing
Close Public Hearing
Motion to adopt a ?nal Millage Rate for operating purposes of 3.2285
Discussion and Vote
Second item to be considered:
Ordinance 20-21-161 establishing the Operating Budget for ?scal year 2021/2022 of
$54,640,926
Open a Public Hearing
Close Public Hearing
Discussion and Vote Agenda Item #8.D.27 Sep 2021Page 40 of 223
RESOLUTION NO.21-52
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,FLORIDA LEVYING
THE AD VALOREM PROPERTY TAX MILLAGE RATE FOR MUNICIPAL
PURPOSES ON ALL TAXABLE PROPERTY WITHIN THE CITY FOR THE
FISCAL YEAR BEGINNING OCTOBER 1,2021 AND ENDING SEPTEMBER 30,
2022;STATING THE PERCENTAGE BY WHICH THE MILLAGE TO BE
LEVIED EXCEEDS THE ROLLED-BACK RATE;AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS,Florida law requiresthe City Commission of the City of Atlantic Beach,Florida,to pass
a resolution levying the millage rate for ad valorem property taxes for municipal purposes on all taxable property
within the city limits of the City of Atlantic Beach,Florida,for the ?scal year beginning October 1,2021 and
ending September30,2022;and
WHEREAS,Florida law requiressaid resolutionto state the millage rate to be levied,and also,to state
the percentage by which the millage rate to be levied exceeds the rolled-back rate as computed pursuant to
Florida law;and
WHEREAS,the City Commission of the City of Atlantic Beach,Florida,has duly considered the
budgetary requirementsof the City;has adopted a tentative budget for the fiscal year beginning October 1,2021
and ending September30,2022,based on a millage rate of 3.2285 mills on taxable property withinthe City;and
has acted in accordancewiththe terms,provisions,and procedures containedin section 200.065,Florida Statutes.
NOW,THEREFORE,BE IT RESOLVED by the City Commission of the City of Atlantic Beach,
Florida,that
l.The ad valorem property tax millage rate for municipal purposes to be levied on the taxable
property within the city limits of the City of Atlantic Beach,Florida,during the ?scal year
beginning October 1,2021 and ending September30,2022 is hereby set at the rate of 3.2285
mills.
2."he percentage by which this millage rate to be levied exceeds the rolled-backrate of 3.0836
is 4.70%.
3."his resolution shall take effect immediately upon its passage and adoption by the City
Commission of the City of Atlantic Beach,Florida.
ADOPTED at a public hearing by the City Commission of the City of Atlantic Beach,Florida on the 27"‘day
of September 2021.
Approved as to form and correctness:
ATTEST:Donna L.BartleCityClerk Agenda Item #8.D.27 Sep 2021Page 41 of 223
ORDINANCE NO.20-21-161
AN ORDINANCE ADOPTING THE FINAL BUDGET FOR THE CITY OF
ATLANTIC BEACH,FLORIDA FOR FISCAL YEAR BEGINNING
OCTOBER 1,2021 AND ENDING SEPTEMBER 30,2022.
WHEREAS,the City Commission of the City of Atlantic Beach,Florida,on September 13,
2021 held a public hearing as required by Florida Statute 200.065;and
WHEREAS,The City Commission of the City of Atlantic Beach,Florida,set forth the
appropriations and revenue estimates for the budget for Fiscal Year beginning October 1,2021
and ending September 30,2022 in the amount of $54,640,926.
NOW,THEREFORE,BE IT ENACTED BY THE CITY COMMISSION ON BEHALF OF
THE PEOPLE OF THE CITY OF ATLANTIC BEACH,FLORIDA,that;
1.The Fiscal Year 2021-2022 budget be adopted,and
2.This ordinance shall take effect immediately upon its adoption.
Passed by the City Commission on first reading this 13"‘day of September,2021.
Passed by the City Commission on second and final reading this 27"‘day of September,2021.
Ellen Glasser
Mayor/Presiding Of?cer
Approved as for form and correctness:
Brenna M.Durden
City Attorney
Donna L.BartleCityClerk Agenda Item #8.D.27 Sep 2021Page 42 of 223
CITY OF ATLANTIC BEACH
CITY CONIIVIISSION NIEETING
STAFF REPORT
Public Iiearings on adopting,Resolution No.21 ~52 for the lv
iil
la
g
e
Rate
and adopting Ordinance 20»21—161 establishing the Operati
ng
BudgetFor
?scal year 2021/2022.
AGENDA ITEIVI:
SUBMITTED BY:Melissa Burns,Director ofFinance ll?f
TODAY’S DATE:Septelnbcr 14,2021
MEETING DATE:September 27.,2021
BACKGROUND:In order to adopt a millage rate and operating budget,the Colnr
nissio
n
rnusl adhere to a strict process per state law.Attached is an outline for the public hearings tobeheldon
September 27"‘in the C0l1]l]|lSSlO?Charnbers at 6:30pm.The fornnat is the salnc as n pr
evi
ou
s
yearsand
is to be read into the record as presented in order to assure compliance with the TRIIVI (s.200.
06S.F.S.).
Prior to these hearings.the City l\/lanager presented a Proposed Operating Btldgel;held tw
o
workshop
sanddiscussionsatregularCornrnissionlneelingstoreviewandmakeadjustrnentstotheb
u
d
g
et
withthe
City Commission’s guidance.The Proposed Operating Budget is funded using the n1illl-
age
rateof3.2285
lrlills.This is the same as the current rate.
This is the second public hearing for the ?nal adoption or the nlillage by resolution and aseco
nd
public
hearing for the ?nal adoption or the C)perating Budget,Ordinance 202 I -161.
BU DGET:None
RECONINIENDATION:Hold two public hearings as described in the attached out
lin
e
toapprove
both the ?nal l\/Iillage Rate of3.2285 mills and the Operating Budget Ordinance 20~2l
—l61
withtotal
expenditures of $54,640,926.
ATTACHl\/[ENT(S):Outline for Public Hearings
Rt.olution No.21-52
Ordinance 20~2 I —1 6]
L K:,;_2 Proposed Buapei —()nlIn(:Version
REVIEWED BY CITY MANAGER:
..
'Agenda Item #9.A.27 Sep 2021Page 43 of 223
ADOPTION OF THE FINAL MILLAGE RATE AND OPERATING BUDGET FOR
FISCAL YEAR 2021/2022
First item to be considered:
Adoption of the Millage Rate by Resolution 21-52
State the following:
The Tentative Millage Rate is 3.2285
The Roll-Back Rate is 3.0836
The Tentative Millage Rate is 4.70%higher than the Roll-Back Rate.
The purpose for adopting the millage rate of 3.2285 is to maintain a level of ad
valorem tax revenue suf?cient to maintain adequate funding for the existing level
of services at the estimated cost and to continue to maintain the City’s
infrastiucture.
Open Public Hearing
Close Public Hearing
Motion to adopt a ?nal Millage Rate for operating purposes of 3.2285
Discussion and Vote
Second item to be considered:
Ordinance 20-21-161 establishing the Operating Budget for ?scal year 2021/2022 of
$54,640,926
Open a Public Hearing
Close Public Hearing
Discussion and Vote Agenda Item #9.A.27 Sep 2021Page 44 of 223
RESOLUTION NO.21-52
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,FLORIDA LEVYING
THE AD VALOREM PROPERTY TAX MILLAGE RATE FOR MUNICIPAL
PURPOSES ON ALL TAXABLE PROPERTY WITHIN THE CITY FOR THE
FISCAL YEAR BEGINNING OCTOBER 1,2021 AND ENDING SEPTEMBER 30,
2022;STATING THE PERCENTAGE BY WHICH THE MILLAGE TO BE
LEVIED EXCEEDS THE ROLLED-BACK RATE;AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS,Florida law requiresthe City Commission of the City of Atlantic Beach,Florida,to pass
a resolution levying the millage rate for ad valorem property taxes for municipal purposes on all taxable property
within the city limits of the City of Atlantic Beach,Florida,for the ?scal year beginning October 1,2021 and
ending September30,2022;and
WHEREAS,Florida law requiressaid resolutionto state the millage rate to be levied,and also,to state
the percentage by which the millage rate to be levied exceeds the rolled-back rate as computed pursuant to
Florida law;and
WHEREAS,the City Commission of the City of Atlantic Beach,Florida,has duly considered the
budgetary requirementsof the City;has adopted a tentative budget for the fiscal year beginning October 1,2021
and ending September30,2022,based on a millage rate of 3.2285 mills on taxable property withinthe City;and
has acted in accordancewiththe terms,provisions,and procedures containedin section 200.065,Florida Statutes.
NOW,THEREFORE,BE IT RESOLVED by the City Commission of the City of Atlantic Beach,
Florida,that
l.The ad valorem property tax millage rate for municipal purposes to be levied on the taxable
property within the city limits of the City of Atlantic Beach,Florida,during the ?scal year
beginning October 1,2021 and ending September30,2022 is hereby set at the rate of 3.2285
mills.
2."he percentage by which this millage rate to be levied exceeds the rolled-backrate of 3.0836
is 4.70%.
3."his resolution shall take effect immediately upon its passage and adoption by the City
Commission of the City of Atlantic Beach,Florida.
ADOPTED at a public hearing by the City Commission of the City of Atlantic Beach,Florida on the 27"‘day
of September 2021.
Approved as to form and correctness:
ATTEST:Donna L.BartleCityClerk Agenda Item #9.A.27 Sep 2021Page 45 of 223
ORDINANCE NO.20-21-161
AN ORDINANCE ADOPTING THE FINAL BUDGET FOR THE CITY OF
ATLANTIC BEACH,FLORIDA FOR FISCAL YEAR BEGINNING
OCTOBER 1,2021 AND ENDING SEPTEMBER 30,2022.
WHEREAS,the City Commission of the City of Atlantic Beach,Florida,on September 13,
2021 held a public hearing as required by Florida Statute 200.065;and
WHEREAS,The City Commission of the City of Atlantic Beach,Florida,set forth the
appropriations and revenue estimates for the budget for Fiscal Year beginning October 1,2021
and ending September 30,2022 in the amount of $54,640,926.
NOW,THEREFORE,BE IT ENACTED BY THE CITY COMMISSION ON BEHALF OF
THE PEOPLE OF THE CITY OF ATLANTIC BEACH,FLORIDA,that;
1.The Fiscal Year 2021-2022 budget be adopted,and
2.This ordinance shall take effect immediately upon its adoption.
Passed by the City Commission on first reading this 13"‘day of September,2021.
Passed by the City Commission on second and final reading this 27"‘day of September,2021.
Ellen Glasser
Mayor/Presiding Of?cer
Approved as for form and correctness:
Brenna M.Durden
City Attorney
Donna L.BartleCityClerk Agenda Item #9.A.27 Sep 2021Page 46 of 223
CITY OF ATLANTIC BEACH
CITY CO1\/Il\'IISSION
STAFF REPORT
AGENDA ITEIVI:Charter officers FY 2020-21 performance evaluations
TC)DAY’S DATE:Sept.1 5,2021
MEETING DATE:Sept.27,2021
SUBMITTED BY:Kevin I-Iogencarnp,Deputy City l\/lanager 7,/<4
SUl\’Il\’IARY:Pei‘Article II,Section 9 of the City Charter,the City Commission “shall
perform an annual perforrnance review ofthe city clerk,city rnanager and city attorney.
”
RECOl\’II\’IENDATION:Detennine whether there is a City Commission consensus toaffirrn
the three charter officers.
BUDGET:None
ATTACHl\/IENTS:
L Article II,Section 9 of the City Charter
2.Completed FY 2020-21 charter officers perforwiance evaluati
ons
CITY NIANAGER:
_-Agenda Item #10.A.27 Sep 2021Page 47 of 223
10/1/2020
Sec.9.-Powers.
AtlanticBeach,FL Code of Ordinances
Except as may be otherwise provided in this Charter,all powers of the city and the determination of all
matters of policy shall be vested in the city commission.Without limitation of the foregoing,the city
commission shall have power to:
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(9)
(10)(ll)(12)
Adopt a budget;
Authorize the issuance of bonds,revenue certificates,and other evidences of
indebtedness;
Establish or abolish official boards and elect the members thereof as recommended by
the mayor;
Adopt and modify the official map ofthe city;
Regulate and restrict the height,number of stories,and size of buildings and other
structures,the percentage ofa lot that may be occupied,the size of yards,courts,and
other open spaces,the density of population,and the location and use of buildings,
structures,and land and water for trade,industry,residence or other purposes;
Provide for an independent audit;
Pass ordinances and laws for the preservation ofthe public peace and order and
impose penalties for the violation thereof;provided that the maximum penalty to be
imposed shall be a fine of not more than one thousand dollars ($1,000.00)and
imprisonment for a period of time not longer than ninety (90)days,or as otherwise
provided for by Florida Statutes;\
Lease golf courses,hospitals and airports,or any portion thereof,after the city
commission has passed an ordinance authorizing any such lease;
Sell golf courses and the public utility system,or any portion thereof,now owned by the
city or hereafter acquired by it after the city commission has passed an ordinance that:
(a)there is a finding that public welfare no longer requires the operation of any such
facility;and (b)the terms of sale of real property within the city limits are stated;and (c)
after such ordinance has been submitted to the qualified voters ofthe city at an
rules andcity;Appoint,remove and fix the compensation of all officers and employees appointed bythecitycommissionashereinafterprovided;the city commission shall perform anannualperformancereviewofthecityclerk,city manager and city attorney;Exercise any right or authority given or permitted by the Constitution and the laws oftheStateofFloridatocitycommissionsnotinconsistentwiththeprovisionsofthisCharter.1/2....__..........n._%......,Agenda Item #10.A.27 Sep 2021Page 48 of 223
10/1/2020 AtlanticBeach,FL Code of Ordinances
(13)The mayor pro tempore shall be appointed by the city commission from its members.
(14)Provide for the protection and preservation of parks as follow:Any real property owned
by the city which is used principally or held out for use as a public park,shall be used
only as a public park;and parks shall not be sold,leased long term,gifted,changed in
description or use,or otherwise disposed of;and no structure shall be built in any such
park to accommodate activities not customarily associated with park use or outdoor
recreation;unless such sale,lease disposal,gift or structure is approved by unanimous
vote of the entire city commission.
(Ord.No.33-15-19,§1(EXh.A),5-11-15)
2/2 Agenda Item #10.A.27 Sep 2021Page 49 of 223
CITY OF ATLANTIC BEACH
Charter Of?cer Performance Evaluation
The purpose of this appraisal is to evaluate performance,pinpoint strengths and accomplishme
nts,
andprovide
suggestions for improvement.In conducting performance reviews,these evaluations will ahistoryor
perrormanee,development and progress.
CHARTER OFFICER NAIVIE:Shane Corbin TITLE:City Nlanager
REVIEVV PERIOD:From:9/20 To:9/21 DATE OF‘EVALUATION:9/9/2|
TYPE OF EVALUATION:x ANNUAL 2 OTHER
DATE OF INITIALILAST REVIEW:N/A
PERFORMANCE RATINGS
Far Exceeds R qutrements:Pei-re.-rnanee was consistently well beyond requirements
Exceeds Requ Inents:l>errermanee consistently exeeedecl responsibilities,standards and objectives
Meets Req perroi-nianee consistently met the majority ofresponsibilitics,standards and
Below Req Performance frequently did not meet requirements
Well Below Requirements:Performance consistently rell well below requirements
SECTION 1.PERFORMANCE TASKS/STANDARDS.Please rate the ab ty ortvte Charter on-teer tocompl
etetherespnnsiticsassinedbythecltarter.
x
we tzelow nelnw Rcquirenuenls Meets Requlrcmenls Exceeds Requirements Excctd
snequlrements
Agenda Item #10.A.27 Sep 2021Page 50 of 223
Mr.Corbin's continued leadership during the COVID pandemic has been exemplary.His planning and
communications skills have been helpful evident in many projects/programs.
Over the rating period,Mr.Corbin has led or coordinated many complex initiatives that include,but are not limited
to,the following:
1.Various COVID-19 issues/projects
2.Mayport Murals
3.Tree Code Update
4.Connectivity Plan
5.Participation in Blue Zones
6.Lily Street Acquisition
7.New Farmers Market
8.City Hall Composting
9.Resiliency,and Adaptation Planning
10.Parks Master Plan
11.Budgeting,with American Rescue Plan funding
12.Capital Improvement Plan
13.Effective Grant Funding
His demeanor is professional and he studies issues before making decisions.He works closely with the other beaches
City Managers.He was successful in identifying an Aquatic Gardens stormwater project that we lobbied
successfully for a $550K state appropriation.Where necessary,he is adept at problem solving,delegating,and
decision-making.This year,our budgeting system is far improved,again with no tax increase.
Mr.Corbin is forthcoming,available,is personable,and always willing to engage with residents wanting to meet or
talk.I know him to be committed to transparency and to working with residents and stakeholders in a positive way
that will bene?t our community.
SECTION 2.PERSONAL TRAITS/STANDARDS.Please rate the ability of the Charter Officer in demonstrating
the following personal straits and standards:Sincere interest in the job;effectiveness in working with others;
communicating with others;cooperation;and flexibilit?
X
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Mr.Corbin’s work ethic is exemplary.He takes great pride in his work and responds well to my feedback.
Conversely,he offers me meaningful feedback about his decisions and city processes as our “CEO”.Always
professional and articulate,he has been a pleasure for me to work with.He is extremely sincere,cooperative,and
?exible.He is very humble and does not seek the limelight for his accomplishments.Over the last year,I have
appreciated his efforts to share his knowledge,ask questions and to learn,and efforts to work in the spirit of
teamwork with all departments.He communicates any issues clearly and on a timely basis to me.
SECTION 3.JUDGMENT AND KNOWLEDGE.Please rate the ability of the Charter Officer in demonstrating
the following skills of judgment and knowledge:Recognition of problems;application of common sense;and logic
XWellBelowBelowRequirementsMeetsRequirementsExceedsRequirementsFar ExceedsRequirementsRequirements Agenda Item #10.A.27 Sep 2021Page 51 of 223
Over the rating period,Mr.Corbin has demonstrated exceptional judgment and knowledge,identi?ed and solved
problems.He combines common sense,data and logic in his decision-making.
SECTION 4.ACCOMPLISHMENTS/AREAS OF STRENGTH
Work ethic,availability,commitment to community,communication skills,planning skills,decision-making skills,
enables staff,ability to delegate.
SECTION 5.AREAS OF IMPROVEMENT
Attend more meetings of local stakeholder groups.
OVERALL RATING BASED ON
THE SCORES IN SECTIONS 1-3 x
Well Below Below Meets Exceeds Far Exceeds
Requirements Requirements Requirements Requirements Requirements
Commissioner’s Signature
6r(L??%x./DJ/€18!Agenda Item #10.A.27 Sep 2021Page 52 of 223
CITY OF ATLANTIC BEACH
Charter Of?cer Performance Evaluation
The purpose of this appraisal is to evaluate performance,pi point stnengtlis and accoinplishrn
ents,
andprovide
suggestions ror improvement.in conducting pel‘foi'mance reviews,these evaluations will p
r
o
vi
d
e
ahistoryof
perron-nanee,development and progress.
CHARTER OFFICER NAN/IE:shane Corbin TITLE:city Manager
REVIEW PERIOD:From:12/102020 To:DATE ow EVALUATION:9/15/2|
9150/21
TYPE or EVALUATION:>14 ANNUAL 1:]OTHER
DATE or INITIAL/LAsT REvtEw:NIA
PERFORMANCE RAT]NG S
Far Exceeds Requirements;perroi-mance was consistently well beyond requirements
Exceeds Requirements:Perronnanee eonsisterluy exceeded responsi ies,standards and objectives
Meets Requirement perronnnnee consistently met the majority ofresponsibilities,standards and o
b
j
e
c
ti
v
e
s
Below Requirement Perforrnance frequently did not meet requiren1::nts
well Below Requirements:Perforrnance consistently rell well below requirernenls
SECTION 1.PERFORMANCE TASKS/STANDARDS.Please rate the ab
Ihe rcspons ies assi ned by the Charter.
lty of the Charter Officer tocomplet
e
x
VVuI Brlnw Bcluw Requirement:Nleelu Ruquiremcnls Exceeds llequiremunls Fa
r
Exceeds
Requ renienis s
Continent Shane understands his duties and responsibilities across the board.He is prompt and his d
o
o
r
isalways
open.shaue is knowledgeable and ?nds the right answer.His employees respect him and want to work rorhim.All
tasits completed on time the right way.
SECTION 2.PERSONAL TRAITS/STANDARDS.Please rate the ab ty of the Charter Officer -II
the following personal straits and standards:Sincere tercst in thejnb;effectiveness in working w ot
he
rs;cummunicnting with others-cnoperation-and ?exibility.
X
well neluw nelew l(cquirenI1-nL<Meet:nenuireiuents Exceeds nee ireineius FurExccells
Requirements
Agenda Item #10.A.27 Sep 2021Page 53 of 223
Cammenls:shnne is cheerful and nppronehes his responsibilities in a positive manner.He goes above a
n
d
beyond
and is effective in working with his staff.lie coordinates all of the various facets ofa Very complicated cit
y
environment.open to learning.
SECTION 3.JUDGNIENT AND KNOVVLEDGE.Please rule the a
the follo ing skills ufjudglnenl and knowledge:
and cleclsionrn-lakinggrinciples.
ty or the charter omeer in d
eRecognlionorprohlems;application or common sens
e;
andloge
x
VVIJI nelnw aeluw Rzquirclnents Meeis Requirements Exeeeau llzqlnrenlcnts Fa
r
Excrcds
Raga rem-.-ms I
l
eComments:I trust his judgement neross the board.He always gives me the right answer.He has point
ed
meinthe
right direction every time.
SECTION 4.ACCOIVKPLISHJVIENTS/AREAS OF STRENGTH
Put together and checked and doubled checked the city Budget.He gives all onhe Department Heads theauthority
and the resources to do their job.
SECTION 5.AREAS OF IMPROVEMENT
Please suggest areas in which improve ment is needed;continue to build the team with the city clerk u
m:Department Heads.
OVERALL RATING BASED ON
THE SCORES IN SECTIONS 1-3 X
well Below Below Nlnels Exceed.mirFxccnds
nemiireniems Rcquirelllentn Requlrcnlnnls
g/s3&,L_g ?r/rs
Agenda Item #10.A.27 Sep 2021Page 54 of 223
.709/15/2021.;“1;_1__El'F’Jl»lFAX9042215141 BPC 0003/0“
ll‘:j ;'
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
The purpose of this appraisal is to evaluate performance,pinpoint strengths and accomplishments,and provide
suggestions for improvement.In conducting performance reviews,these evaluations will provide a history of
pcrfonnnnce,development and progress.
...,..I
-'-*1.f '
CHARTER OFFICERNAME:$4/re Kn/J/A ITITLE:6//?dhe/*1¢/
REVIEWPERIOD:Frotn:’//M 'I'L?/?/1DATE or EVALUATION:7//«V2/_
TYPE OF EVALUATION;NUALE]OTHER
‘
'
l
DATE orINITIAL/LASTREVIEW:I
V
__
EERFORMANQERATINGS
Far Exceeds Requirements:Performance was consistentlywellbeyond requirements
Exceeds Requirements:Performanceconsislcntlyexceeded responsibilities,standards and objectives
Meets Requirements:Perfonnanceconsistently met the Inajority of responsibilities,standardsand objectives
Below Requirements:Performance frequentlydid not meet requirements
Well Below Requirements:Performanceconsistently fell well below requirements
—-.2 —-———,———-,--,_-.__-i
1.SECTION..PERFORM'ANC_ETASKS/STANDARDS.Please rate the ability of the Charter(_)I?cer_t_oconipleteAtheresonslbilitiesasstnedbtheCharter.''.-‘
I ....1 ..~.A .--
Well Hclow Helow Requircmcnls
”
MeetsRequirements 7 ‘?r Exceeds
—
__Requircn1_u1ta __Requirements
C°”'"'°""°
G 51‘4/16 /}4//.?e).//9/¢a4a/Io?”,émv.//a}*/{/c 4*4’
ca,9,/¢/U //J -//A/t
'sEéI‘IoN2.‘j ‘PERSONAL'I_‘RAl'I_‘,S/S'l‘ANDAR_I“)S.Pleaseretiemnhility or nu?Cl_Iart‘er‘O.f?c"¢;in dernoust_i'atl_ng‘_._‘-the_f_ollowlngpersonal straitsiind-standards‘:Sincere interest’in‘the‘joI$;‘effeétivc_ness‘inworkingwith others;''
communicating’with others:.conperation;‘;ihd?exibility..’..l‘..-.«.’I '_._'‘-
Well Below A
Below Rcqttiremettls M517Requirements ExceedsRequirements ParExeetulaRcquircmgnts
‘___Requirements
Comments;V I.//J //M/J/6 24'4"X "5 "I I/,in/6 /ff)’A/I '£’(»?/./2.e.r:of ?r//«tau 4'4’con»:/Agenda Item #10.A.27 Sep 2021Page 55 of 223
09/15/2021a:18PM FAX 9042215141 ape 0007/0007
'2‘;.si;i:'TIoN-3.1 [J:UDGM_EN‘1‘.ANDKNOWLEDGE’.Piaseratethe-abilityorthe Charter.»Of?ce'r~in aemons?acingI
the followingskillsof-judgment and knowledge:_Reeo'gnitiVo_nofproblems;,a'pplicaIion of commonsenxe';'and.logic.'
and decision-making_principles.'..
Well Below
I
BelowRequirements llrleclsRequirements
Reqgircments
Far Exceeds
Rt uircmenls
'ExceedsRequirements
Comments?‘//‘[7/‘V¢p;,?‘/‘Vt’?67¢://lffé,/?f f/?’/6
1'//Jc 444//JH ca Ann”’0'’’‘i/3%///#7??a
I649;:/gyman 2!;/“V/‘Eu7‘5?.
JV
sEcr19_13’4.ACCOMPLISHMENTS/Al3_E_‘._AS'OFSTREKEQH'
Please note signi?cant accomplishments and speci?c arena of strength:
6';/;»nvI~c'~/?lvg?’/,r/‘K/Z?/.bra»/wrfy 1.4’?
SECTION 5.AREAS OF lMP.R.0V.EMENT
Please suggest areas in which improvement is needed:
ICmiéne:6 4»/I//o /wr ‘W2’/7“'1'
/1?r//}:-c/-
OVERALLRATING BASEI5ON
r ‘
’XTHESCORESINSECTIONS1-3 _‘_‘____Well Below Below Meets I-Exceeds Fur ExceedsRequirements
‘
Requirements Requirements 4 Requirements4 Requireincnls
Commissioner’s Signature
?/”//7/~‘%’Z*/-Agenda Item #10.A.27 Sep 2021Page 56 of 223
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
The purpose or this appraisal is to evaluate performance,pinpoint strengths and accomplishm
ents,
andprovide
suggestions for improvement.in conducting performance reviews,these evaluations will p
r
o
v
i
d
e
ahistoryof
performance,development and progress.
CHARTER OFFICER NAME:TITLE:CA7 n\“‘“0}92/\
REVIEW PERIOD:l=rom:%llxX'-3015To-
‘32\DATE OF EVALUATION:‘(33l
’P\‘
3&
1
TYPE OF EVALUATION:E]ANNUAL El OTHER
DATE OF INITIAL/LA ST REVIEW:35:5;‘>1-113
Far Exceeds Requireme
Exceeds Requirements:
Meets Requirements:
Below Requirements:
Well Below Req u irernen ts:
PERFORMANCE RATINGS
Perforrnance was consistently well beyond requirements
Perrcrrnance consistently exceeded responsibilities,standards and objectives
Perfbrlrlance consistently met the majority of responsibilities.standards and
Perforrnance Frequently did not meet requirements
Perfon-nancei consistently fell well below requirements
nts:
SECTION 1.
the responsibilities asslg
PERFORMANCE TASKS/STANDARDS.Please rate the nbllily of the Charter Officer tocomple
tenedbytheCharter.
well Below Exceeds Requirements F
a
r
ExceedsBelowRequirementsMeetsRequirements
Requirements ,3 \(‘.7 \
“‘1:'°£t‘z“.;ei..fi
g
“
“@?'°‘;*‘**v,¢4*t¥3t8n?o%?s'so<ee5Aim";C “ML pas \‘A’‘N2 {.as rhunl s?lorl
ulr\RS§g1~ea:\\\r\a§\g&:~Jn l \3m\\oive\Cr '''
SECTION 2.PERSONAL TRAITS/STANDARDS.Please rate the ability of the Charter ()f'f|l:er In
the following personal straits and standards:Sincere l terest in the job;effectiveness in vvorking with o
t
h
e
r
s
;
ccmrnunientlrg with otliers-cooperation;and nexibiltty.
well lxelnw ExceedsBelowRequirementsMeetsRequirementsExceedsRequirements
Requirements
Comments:Q
)\[A }$A (JV 0
C'b\\Q ‘F54 IV
(‘we omr?ia
‘ouexeON
mrs\Qr.~\_wnmurxlctr
C E#4?f:L"“§’,JQ’S,‘?9,'yCl;,y‘[:{:‘§rZ:Qw\r01"C"l'y\]t/
I1’
I (0 (
noalts.\pt\\t ‘\\s\€'\.Mar Q ex ,so i
-
/t\‘\4?YLNV\Ciiszs/
dxhailll
y
’_§<
>
mm
u/},
)lt/.
Q5 ‘\'Q
ates
Agenda Item #10.A.27 Sep 2021Page 57 of 223
SECTION 3.JUDGMENT AND KNOWLEDGE.Please rate the ability of the Charter Of?cer in d
e
m
o
n
st
ra
ti
n
g
the roiiuwing skills ofjudgment and knowledge:Recognition of problems;application or common sens
e;
andlogic
and decision-rnaking princlgles.
VVGII Below Bglow Rcqlllrcrntnts Nlects Rlzqulrcmtnls Exceed:Requlrelngnll Fa
r
Exceeds
Requlrcmunls
Comments:«\rC‘oobv *cr>A«.\a\€d.,+N 940%\€S‘\r 05?‘
mow Pfl?j€’cii*S~\/0 v C/?xj cf?‘fn“%
‘1;,<
?AVf3
£;
1cS9.'
><b’”
lD@/
N‘avag°“9{V§;:\,,Fm,“\.??:£:,e F A mml
vggf
g.
Hm
b?V ,7 ,
Ar<:c<))M\IfI::;%IM2:."(i{s/:'ifi;2.:sI0;‘npu B‘?IfrugL
Please note S-ignica Bcconl lishln ts n spec!c areas nfstrength:
‘§€n“Y‘°\£
I §X‘n“r'§nr-L'5<9’§C4‘2’i‘5iA'33s“lE%%
?ȤAԤ'
*B.$“’€§f$C5'wwxop‘,
mx,
;..w,
,'i '
‘
‘I V M23.‘.‘S‘%9'3§§’W9“«€33 ’,mu ~15 mxi
,Cummu \1/yhp?or\Cbnnlo Ms?p\an.~t’Y\4$VF Pavqés I
SECTION 5.AREAS OF In/IPROVEIVIENT
Please suggest arena in which improvement is needed:
V
(‘(\(3(\Q_,<2;/.~?Q3u\r\t2.3V0 \3vQ mu
OVERALL RATING BASED ON XTHESCORESINSECTIONSI-3
weii aeiow Below Meeu Excecdl FurExceeds
Requiremenu nequiremenn Requirement:Requirements Raquiremen
u
C4L«\\Q \B Sqe?r ax
Commlssione((s ignazure
Agenda Item #10.A.27 Sep 2021Page 58 of 223
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
The purpose of this appraisal is to evaluate performance,pinpoint strengths and accomplishments,and provide
suggestions for improvement.In conducting performance reviews,these evaluations will provide a history of
performance,development and progress.
CHARTER OFFICER NAME:Shane Corbin TITLE:City Manager
REVIEWPERIOD:From:09/2020 To:08/2021 DATE OF EVALUATION:9/14/2021
TYPE OF EVALUATION:v’ANNUAL OTHER
DATE OF INITIAL/LAST REVIEW:09/22/2020
PERFORMANQE RATINQQ
Far Exceeds Requirements:Performance was consistently well beyond requirements
Exceeds Requirements:Performance consistently exceeded responsibilities,standards and objectives
Meets Requirements:Performance consistently met the majority of responsibilities,standards and objectives
Below Requirements:Performance frequently did not meet requirements
Well Below Requirements:Performance consistently fell well below requirements
SECTION1.,PERFoRMANcjETAsKsIsTANnARDs-measeratetheabilityofiheCharterOrticertoéomplete
itlreresponsibilitiesaissignedtbytheCharter.1
r
\/
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Comments:
9
2thefollowingpersonalstraitsandstandards:[Sincereinterestin thejob;effectivenessinworkingwitlrothers;I
’A
communicating with others;cooperation;and flexibility.’
*'P ''1 :1 1 ‘T “'’l
JWellBelowBelowRequirementsMeetsRequirements Exceeds Requirements Far ExceedsRequirementsRequirements Agenda Item #10.A.27 Sep 2021Page 59 of 223
Comments:
SECTION
_JUDGMENTAND KNOWLEDGE.Please rate the abilityof the Charter Of?cer in demonstrating the
following skillsofjudgment and knowledge:Recognition of problems;application of commonsense;and logic and
decision-malcingprinciples.
7
B B
S
I
I
~/
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Comments:
SECTION4.IACCAOMPLISHMENTST/AREASOFTSTRENGTH
Please note signi?cant accomplishments and speci?c areas of strength:
VSECTION5.AREASOFIMPROVEMENTI
Please suggest areas in which improvement is needed:
OVERALL RATING BASED ONTHESCORESINSECTIONS1-3 Well Below Below Meets Exceeds Far ExceedsRequirementsRequirementsRequirementsRequirementsRequirements Agenda Item #10.A.27 Sep 2021Page 60 of 223
9/14/2021
C0mmissioner’s Signature Date
Agenda Item #10.A.27 Sep 2021Page 61 of 223
CITY OF ATLANTIC BEACH
Charter Of?cer Performance Evaluation
The purpose or Ihis appraisal is to evaluate perforrnance,pinpoint strengths and accomplishrne
nts.
andprovide
suggestions for improvernent_In conducting perfonnance reviews.these evaluations will ahistoryor
perrorinanee,development and progress.
CHARTER OFFICER NAKVIE:Donna Barlle TITLE:city Clerk
REVIEW PERIOD:From:9/20 To:9/2|DATE OF EVALUATION:9/9/21
TYPE OF EVALUATION:x|:]ANNUAL |:[?—IER
/CDATEorINITIAL/LAST REVIEVV:EG/9/20
c./
PERFORMANCE RAT!NGS
Far Exceeds Requirements:Perfonnanca was eonsistently well beyond requirements
Exceeds Requirements:PeI'fol'mance consistently exceeded r sponsibilities,slan
Meets Req enuentsz Pevfun-nance consistently met the majority orresponsibi
Below Req ements:Perrorrnanee rrequently did not meet requirements
well Below Requirements:Perforlnance consistently fell well below requirements
'ds and objectives
es,standards and
SECTION I.PERFORMANCE TASKS/STANDARDS.Plznse rate the ability of the (Charter ()l‘I'Icer tocompl
etetherespensisnssinor:by the cnener.
x
well Below Iselow nequiremetits IVIL'cIIl nequlrements Exceeds Requirements rueeds
Requirements
Agenda Item #10.A.27 Sep 2021Page 62 of 223
Ms.Bartle is consistently diligent,reliable,and thorough.This past year,she oversaw a top-notch staff to improve
ef?ciencies in the Clerk’s office.Her availability and attention to detail during and after the state of emergency has
been exemplary.She is able to conduct effective liaison with all City Departments.
In terms of performance at meetings,she has far exceeded standards in terms of noticing public meetings,
supporting these meetings,and preparing minutes.Her work is generally very time sensitive.She provides valuable
input in terms of meeting requirements.
Over the rating period,Ms.Bartle has also worked diligently on complex projects that include,but are not limited
to,the following:
1.AB Election
2.Initiated and oversaw mandatory training for board/committee members and staff liaisons —Resolution,Training
Materials/Notebook,Notification,Tracking,etc.
3.Transitioned into new meeting format
4.Records management projects -scanning,verifying,inventorying,identifying records that met retention
requirements,destroying,and documenting.
5.Meeting Management -Notices,Agendas,Follow-up,Minutes
6.Extensive Public Records Requests
7.Training and cross-training
8.Managing requirements for the Board Member Review Committee
9.Supporting all other Committees.
SECTION 2.PERSONAL TRAITS/STANDARDS.Please rate the ability of the Charter Officer in demonstrating
the following personal straits and standards:Sincere interest in the job;effectiveness in working with others;
communicatingwith others;cooperation;and ?exibility.
X
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
In my observation and interaction,Ms.Bartle’s work ethic is exemplary.She takes great pride in her work.She
responds well to any feedback and instructions I have.To my knowledge,she is collegial with the other Charter
Officials and the Commission,as this is important to assure good work ?ow.
She communicates any concerns clearly and brings a wealth and institutional knowledge about our city to our
collective efforts at City Hall.
SECTION3.JUDGMENT AND KNOWLEDGE.Please rate the ability of the Charter Of?cer in demonstrating
the following skills of judgment and knowledge:Recognition of problems;application of common sense;and logic
and decision-making_principles.
X
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Over the rating period,Ms.Bartle has demonstrated exceptional judgment and knowledge,identi?ed and solvedproblems.SECTION 4.ACCOMPLISHIVIENTS/AREASOF STRENGTH Agenda Item #10.A.27 Sep 2021Page 63 of 223
Among her areas of strength:
Attention to detail,commitment to the job,excellent working knowledge,works well with others,management skills
with staff,ability to locate pertinent records,availability to staff and residents,skilled at public records requests,
seeks best practices from other clerks around the state
SECTION 5.AREAS OF IMPROVEMENT
I encourage Ms.Bartle to continue to attend training that is available for professional development.During the
rating period,the Deputy Clerk was promoted in-house,so continue to recruit,train,and retain capable new staff as
IIBCBSSR Ty.
OVERALL RATING BASED ON
THE SCORES IN SECTIONS 1-3 2:
Well Below Below Meets Exceeds Far Exceeds
Requirements Requirements Requirements Requirements Requirements
?e §/wm/
Commissioner’s Signature Date
"I
Agenda Item #10.A.27 Sep 2021Page 64 of 223
CITY OF ATLANTIC BEACH
Charter Of?cer Performance Evaluation
The purpose of this appraisal is to evaluate pcrforrnance,pinpoint strengths and sceomplisltm
ents,
andprovide
suggestions for improvement.in conducting
performance.development and progress.
perforlnance reviews,tltese evaluations will p
r
o
vi
d
e
8historyor
CHARTER OFFICER NAME:Donna Ba rtle TITLI:Town Clerk
REVIEW
9150/21
PERIOD:From:12/102020 To:DATE 0!?EVALUATION:9/15/21
TYPE OF EVALUATION IX ANNUAL |:l OTHER
DATE OF INITIAL/LAST REVIEW:N/A
Far Exceeds Requt
Exceeds Requireme ts:
Meets Requirement
Below Requirement
well Below Requ irements:
ements:
PERFORM ANCE RATINGS
Perforxnance was consistently well beyond requirements
Performance consistently exceeded responsibilities,standards and objectives
Perforrnancc consistently met the majority orresponsibilities,slanclards and o
b
j
e
c
ti
v
e
s
Perforrnance frequently did not meet requirernenls
Perforrnance consistently rell well below requirements
SECTION 1.
tbe respansib
PERFORMANCE TASKS/STANDARDS.Please rate the ability or the Charter omcer tocomplet
eesassignedbythecharter.
X
wt.-ll Ixelow
Requirement.
Bclnw Requirements-Meet.Requirements Excctztls Requirements I~
‘:
tr
Exceeds
Corn Inenls:Donna is very consistent ‘n dealing \
or ber role and responsihlli es.site is very helpful
'h all activities.She knows she job in and o t and atotalgrasp
In all administrative activities of the City.
SECTION 2.PERSONAL TRAITSISTANDARDS.Please rate the ability of the Charter Ol?cer in
the following personal straits and standards:Sincere interest in thejob;effectiveness in working with ot
he
rs;communicatitg with otIters-cooperntiom and rlexitu I y.
X
we:nrlttw
Requirements
uelow Requirements Nleets Rcq remenu Exceeds Requirements trn
r
Exceeds
Agenda Item #10.A.27 Sep 2021Page 65 of 223
SECTION 3.JUDGIVIJENT AND KNOVVLEDGE.Please rate the ability 0!’the Charter Ol?cer In de
m
on
str
ati
ng
the following skills afjlldgment and knowledge:Recognition or problems;application or common sens
e;
andlogic
nnd decision—ln:1king_principIes.I
x
\'VcII Btlow Dtlow Rcqlllrznienu Nlccu Requirements Exceeds Rnqulrcvncnla Fu
r
Exceeds
Reuulrcnlcnts
Comments:Donna makes sound calls to contact the right resources fur the joh.she effectively uses perso
nnel
in
a very productive manner.
SECTION 4.ACCOMPLISHMENTS/AREAS OF STRENGTH
Plense note significant sccomp slllnel-lls and speoiric areas or strength:Insured the local City election wa
s
fairand
impartial.She personally coord ated all the documents.
SECTION 5.AREAS OF IIVIPROVEIVIENT
Please suggest areas in which improvement is needed:VVork together on the AB team with the City
OVERALL RATING BASED ON
THE SCORES IN SECTIONS I-3 x
wen Below nelow meets Excccdn FarExczed:
Rmjuirelllenm llcquiremznts Ill.-quirrn-lent:Requirements ncqnirs-menu.
/5,1,4!/§,L—9//5/
sw-12
Agenda Item #10.A.27 Sep 2021Page 66 of 223
09/15/2021’t‘1:j(_'PJi}lFax 9042215141 BPC 0004/0007
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
The purpose of this appraisal is to evaluate performance,pinpoint strengths and accomplishments,and providesuggestionsforimprovement.in conducting performance reviews,these evaluations will provide a history of
perfonnance,development and progress.
CHARTEROFFICER NAME:‘?an/m ?r//K!Tl'_I‘L'E:6'/V /’I
REVIEW PERIOD:From:_‘//Z0 To:743/DATE 0:1 EVALUATION:7//V8
TYPE OF EVALUATION:I344NuAL [:1 OTHER
v-j—n ..-.V I
PDATEor INITIAL/LASTtuzytewt /'///4
PERFORMANCERATIN
Far Exceeds Requirements:Performancewas consistently well beyond requirements
Exceeds Requirements:Perfonnance consistentlyexceeded responsibilities,standards and objectives
Meets Requirements:Performanceconsistentlymet the majority of responsibilities,standards and objectivesBelowRequirements:Performance frequentlydid not meet requirements
Well Below Requirements:Performanceconsistentlyfell well below requirements
—-5 j -.4...EECTION’ll.PERFORMANCETASKS/STAN‘I)_ARDS."iPle‘ascratethetibilityioftheCharterO?iter tohcotnplelei
A._Requirements ,1
Comments:1-.734/(4 /I0 tV_{'tr¢/4‘!{/2141 /2///'
//1-(?u/‘J1'//2773A44’16/2.2 A’/’//4*///7 KM//55///5::
Well Below B1-lowRcquiremcttts MeetsRequirements Exccct?lequiremcnmReuirements
’ASE_C’l‘I0N_,21.‘RERSONALTRA1Ts/srnnbannps..t_>teas_e_Ttelhe_abillty_ol‘the _c_1.arre._r_c>_rn_cen_ndetnonsTrati_rtgtheiollowingpersonalstraitsan‘dTstanda1‘ds:Sincereinteret itrthe job;effectivenessiutgvorkingwitlr others;.'
,commun_i_eating(with?-o_thers;cooperation;:and.?exil3ility..-~.‘
V.
‘"‘
1 ‘V
WellBelow BelowRequirements Meets Ruquircmettts
Requirements Far Exceeds
Re uiremcnis
Exceeds Requirements
I ’A p
//I9,?-t»',4A75,_w»«.;..,/.414’cmM””5%AM M“/’M’°/Ga?/////0?Agenda Item #10.A.27 Sep 2021Page 67 of 223
o9/15/2o214;1m4 FAX 9042215141 BPC 0005/0007
-“--~SQGTION-3;
,it-IDGMENTANDKNOWLEDGE.‘Pleasei'a,tethe abilityorthe Chnrter.Officer inAdem'o-ns—trating
’thefoll_owin_gskillsof judgment and ltnowledge:Recognitionof pijobleins;application of commonsense;.and logic -0
‘and decision—malcing_princlples.‘.‘
l
V
WcIl_Below I Below Requircmunls
Requirctncnls Fa r Exceeds
Requirements
:'..m uI1Ir_{...-,.'___49,9511/J/";7,’i'$.‘:35‘f357JI'
C°"""°""‘,’,lH"/iiMa‘sf”/C /44’72/4/(,fr»//9 4%/7‘“‘’’4’/5’,
4:5ct/¢//4 zma #0 /4//mar ax‘£4“/“?e ”/“°"
993/1’,/7/I/5'5"6Ma /3 //rcz~%/’
4
/7”
‘sEc1'ioN4.'A’c(:oM'i=usHMENTs/A3EAsorsnu?nn’0’
A
‘V
Please note signi?cant accomplishments and speci?c areas of strength:
Cw»:er};/7514
//.4/f //4/£7»;,,,,/////funeo?’/£7
sncnon?AREAS on ??eaovemnnr
Please suggest areas in which improvement is needed:
/V/?
OVERALL RATINGBASED dN "’'0 ''
THE SCORES IN SECTIONS I-3
'Well Below I Below Meets Exceeds ar ExceeRcturircmentsRcqnircmentaRcggyemeltlsRequirementsRequirements
I»9%?”/_ConnmissionefsSignature Agenda Item #10.A.27 Sep 2021Page 68 of 223
CITY OF ATLANTIC BEACI-I
Charter Officer Performance Evaluation
The purpose or this appraisal is to evaluate perforrnance,pinpoint strengths and accomplish
ments,
andprovide
suggestions for improvement.in conducting perforrnance reviews,these evaluations will p
r
o
v
i
d
e
ahistoryof
perforrriance,development and progress.
CHARTER OFFICER NAME:3 Aj???TITLE:Cl \‘/CIZFK
REVIEW PERIOD:From:$0;03<Ah’20To:$¢PX/.9301 DATE OF’EVALUATION:
‘SkANNuAL El OTHERTYPEOF‘EVA LUATIO
DATE or INITIAL/LAST REVIEW:£020
PE FORNIANCE RATIN S
Far Exceeds Requirements:Perron-nance was consistently well beyond requirements
Exceeds Requirements:Perrorrnance consistently exceeded responsibilities,standards and objectives
Meets Requirements:Perforrnance consistently met the majority of responsibilities.standards and
Below Requirements:Perforrnance frequently did not meet requirements
well Belnw Requirements:Ferfonnance consistently fell well below requirements
SECTION 1.PERFORMANCE TASKS/STANDARDS.Please rate the ablllty of the Charter Officer tocomplet
etheresponsibilitiesassineclbytheCharter.
well Bi.-low nelaw Requirements Meets Requirements Exceeds Requirements F
-r
Exeeeds
Requirements
Com--=ms=4 yéos F ray,xencu as City Ck
2~
K
n+Q Aa§in he?[tn by 0~’rié?\§ih
an;irlamberéhr?in (é\o»\z.§aesociicrhms;léeeé ‘JV’?0“
wi\—\\Aoeéliros om;E191rlolrlco.r0gu.u’rerTlen+S
/5SECTION2.PERSONAL TRA TANDARDS.Please rate the ability or the charter omeer in
the following personal straits and standards:sincere interest in the job;erreetiveness in working with o
t
h
e
r
s
;
communicating with others;cogparation;and rlexihiiig.
well Below Below Requirement:Meets Requirements Exceeds Requirements Exceeds
C Req:‘Tcm;'Y‘\§prtjuelds (JR-sVav\$I
(_«
2.*f
§"i5
}"\;:
mo’
m.
mmét-32 Ce\~+t vut\\+c>\qoa
‘
51$4-"\‘S
—:l)’uD¥ocfsas C ‘\@\<72E:\w>ws\>(2>WE“
W +0 or Vqmn ,mg Qap'H2 n~am%A+0 c2¢(o’nP\i5h 7
‘43(\rué\\\(a\’\v\on \.u\\\wy,\g§g —\-<>vi»-"O\I?"'\""‘@'Agenda Item #10.A.27 Sep 2021Page 69 of 223
SECTION 3.JUDGMENT AND KNOWLEDGE.Please rate the ability 0!‘the Charter Officer in d
e
m
o
n
st
ra
tl
n
g
the following skills orjudgmem and knowledge:Recognmon of problems;application of nzommon sens
e;
andlogic
and deci.siun—lnRking principles.
Well Below D:Io\v Rgquircmenll Meet:Requirement:Exceeds Requirement:Fa
r
Exceeds
Requirements
Comments:(YB Bar~Hn>_\\aS ”H\°~B254 M\€bes'}S 04 H‘?(
\—(«u ~Gf‘e~(yw\—0?’any oEvcsSID'\.—€\\sL ?haug +0 V753“/Q
axé o.N;!Y‘<:1‘u2,T‘0aA b\ou\c5 ‘\042cQCt9V\(‘3-MOVJZS(1595 5"
Mr .g;<~len§i~/9 pas}—$Z)f.2?‘N?’1<0.$‘
SECTION 4.ACCOR/IPLISHIVIENTS/AREAS OF STRENGTH
Please not?\s’l$ni?t:)I1(t)(a\cox:g;’|i\sh’:_.§§££’san c€{§§drsn3:&5c$;?ahK',4 F35“\;r
}
1Q
(\$
—..k \—~*\doc (ha ‘
$83,659 S%4“qh—£‘lOeeLDr=‘3’(Yc‘]
P‘07f€q*0
31'“d$v6*-
rm}
Vaw
my/Jvul m b"!/am ‘/«ya;(42./T\fYlLr55}kY‘€7\1'i"‘¥°'77‘0“-L6‘9")‘-““"
*“’€5SECTION5.AREAS OF H914’VEDIENT
Please sI;€’g9estwI:(:I:§i%provre‘née‘:2Kean:C)“40 @m
OVERALL RATING BASED ON
THE SCORES IN SECTIONS ‘I-3
wen Below Belnw Meets Exceed:FurExceed:
Requlrements R:quIr¢n-lent:Requirements Rcqulrnments Requireme
nts
o.}§:E ?nal
Agenda Item #10.A.27 Sep 2021Page 70 of 223
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
The purpose of this appraisal is to evaluate performance,pinpoint strengths and accomplishments,and provide
suggestions for improvement.In conducting performance reviews,these evaluations will provide a history of
performance,development and progress.
CHARTER OFFICER NAME:Donna Bartle TITLE:City Clerk
REVIEW PERIOD:From:09/2020 To:08/2021 DATE OF EVALUATION:9/I4/2021
TYPE OF EVALUATION:V,ANNUAL OTHER
DATE OF INITIAL/LAST REVIEW:09/22/2020
PERFORMANCE RATINgg§
Far Exceeds Requirements:Performance was consistently well beyond requirements
Exceeds Requirements:Performance consistently exceeded responsibilities,standards and objectives
Meets Requirements:Performance consistently met the majority of responsibilities,standards and objectives
Below Requirements:Performance frequently did not meet requirements
Well Below Requirements:Performance consistently fell well below requirements
SECTION1,”PERFORMANCETASKS/STANDARDS.Please rate the abilityof the Charter Officerto complete
the responsibilities assigned by the Charter,
7
—
J
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Comments:
I P
the following personal straits and standards:Sincere interest in the job;effectiveness in working with others;
j C
communicating withothers;cooperation;and ?exibility.JWellBelowBelowRequirementsMeetsRequirements Exceeds Requirements Far ExceedsRequirementsRequirements Agenda Item #10.A.27 Sep 2021Page 71 of 223
Comments:
SECTION 3,JUDGMENTANDKNOWLEDGE.Pleaserate the ability of the Charter Of?cer in demonstrating the
following skillsof judgment and knowledge:Recognition of problems;application of common sense;and logic and E
decisiommaking principles.A
‘.
J
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Comments:
SECTION4.W‘ACCOMPLISHMENTS/AREASOFESTRENGTHE
A W M
Please note signi?cant accomplishments and speci?c areas of strength:
SECTION‘5.AREASopIMPROVEMENT
Please suggest areas in which improvement is needed:
OVERALL RATING BASED ONTHESCORESINSECTIONS1-3 Well Below Below Meets Exceeds Far ExceedsRequirementsRequirementsRequirementsRequirementsRequirements Agenda Item #10.A.27 Sep 2021Page 72 of 223
9/14/2021
Commissioner’s Signature Date
Agenda Item #10.A.27 Sep 2021Page 73 of 223
CITY OF ATLANTIC BEACH
Cllarter Clfficer Perforlnance Evaluation
The purpose of this appraisal is to evaluate pei1'oi~mani;e,pinpoint strengths and aeeomplislinie
nts.
andprovide
suggestions for improvement.In conducting performance reviews,these evaluations will ahistoryor
performance,development and progress.
CHARTER OFFICER NAJVIE:Brenna Dui-den TITLE:city Attorney
REVIEW PERIOD:From:9/19 To:9/20 DATE or EVALUATION:9/9/21
TYPE OF EVALUATION:x ANNUAL |:|OTHER
DATE OF INITIALILAST REVIEVV:EGIQ/20
PERFORMANCE RATINGS
Far Exceeds Requirements:Perfonrlancc was corlsislently well beyond I‘eE[uil‘El'l"l€I'ltS
Exceeds Req rements:Performance consistently exceeded responsibilities,standards and objectives
Meets Requirements:Perforlriancs:consistently met the majority ofresponsibililies,standards and
Below Requirements:Perrori-nance ti-equently did not meet iequirements
well Below Requ rements:Perroi-inance consistently fell well below requirements
SECTION l.PEl{Fl)R]V|ANCE TASKS/STANDARDS.Please rate the ahility or the charter orrieer tocomple
tetheresponticsassignedbythecharter.
x
\VclI ac...“Ilclotv io....ir....c..u Nlcels Ilequircmunls Exceeds Rcqllirclnents I
’
-
‘
a
r
[Cxcecds
Rt.-qui ....c....
over the rating period.Ms.Durden has continued to perform at an exceptional level.
over the -::ting period.in add on to her regular review uf resolutions,ordinances and other legal ma
tter
s
before
the comm sion,Ms.Durden has worked ''cntly on other complex matters that include,hut are not li
mi
ted
to,the
rollowlng:
l.Parade ordinance
2.Tree our ance
3.waste auler contracts
4.Covl —rclated issues
5.Allan Beach country Club issues
6.Re?nance utility bond for substantial city savings
she is I 'hly competent at herjoh.Her skills in land use and other municipal matters are recogn ed thelegal
community,in her community service,and throughout the state.She is always dedicated to detn and isvery
thorough,whether in oral or w tteii prcse tations,or in meetings W at starror stakeholders.she requi
res
no
supervision and has woi ked on issues,as itlentmed by the commission,or as tasked by the city Manager
,
atthe
direction or the commission.
SECTION 2.PERSONAL TRAITSISTANDARDS.Please rate the a ity or the charter ol?eer in
the rollowing personal straits and standards:sincere ntercst in the job;effectiveness in working with o
t
h
e
r
s
;
communicating with others;coclperation'and nexib y.Agenda Item #10.A.27 Sep 2021Page 74 of 223
X
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Over the rating period,Ms.Durden has demonstrated her sincere interest in the job and in serving our city.She
has proven herself to be very effective in working and communicating with others.She has an exceptional work
ethic but is also approachable and personable at all times.She values being part of the city team,and she is valued
as a team member.
SECTION 3.JUDGMENT AND KNOWLEDGE.Please rate the ability of the Charter Officer in demonstrating
the following skills of judgment and knowledge:Recognition of problems;application of common sense;and logic
and decision-makiiigprinciples.
X
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Over the rating period,Ms.Durden has demonstrated exceptional judgment and knowledge,identi?ed and solved
problems;used common sense,and has used logic in his decision-making.
SECTION 4.ACCOMPLISHMENTS/AREAS OF STRENGTH
Research skills,analytical skills,draft ordinance review,solid relationships with colleagues in the legal community,
availability,openness to feedback,strong connection to staff
SECTION 5.AREAS OF IMPROVEMENT
Improve efficiencies due to work?ow issues since she does not work at City Hall;stay abreast of local beaches news
and issues of concern raised on social media.
THE SCORES IN SECTIONS 1-3 xWellBelowBelowMeetsExceedsFarExceedsRequirementsRequirementsRequirementsRequirementsRequirementsqlélCommissioner’s Signature Date Agenda Item #10.A.27 Sep 2021Page 75 of 223
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
The purpose of this appraisal is to evaluate perforrnance,pinpoint strengths and accomplishm
ents,
andprovide
suggestions for improvement.in conducting perforlnanoe reviews.these evaluations will p
r
o
v
i
d
e
aliistoiyof
perfol lnance,development and piogress.
CHARTER OFFICER NAl\’IE Brenna Durden TITLE City Attorney
REVIEVV PERIOD:From:I2/102020 To:DATE OF EVALUATION:9/l5l2l
9150/21
TYPE or EVALUATION:I21 ANNUAL |:]OTHER
DATE OF INITIAL/LAST REVIEW’:N/A
PERFOEMANCE RATINGS
Far Exceeds Requirements:Performance was consistently well beyond rcquirements
Exceeds Requirements:Performance consistently exceeded responsibill ies.standards and objectives
Meets Requirement Performance consistently met the majority orresponsibilities,standards and o
b
j
e
c
ti
v
e
s
Below Requirernenl .F::r?:u1'nance ?equently did not meet requirements
well Below Requirerneiits:Perforrnance consistently fell well below requirements
SECTION L PERFORMANCE TASKS/STANDARDS.Please rate the ability or the Charter Of?cer tocolnplelc
the responsibilities assigned by the Charter.
x
well Relow nelew Requirements Meets Reqtiirrineiitii Exceeds Requirements Fu
r
Exceeds
Requirements
Comment .Brenna completes all tasks
manner.I trust her legal opinion.
i a timely manner.she adds needed and speeirie guidance in atime
ly
SECTION 2..PERSONAL TRAITS/STANDARDS.Please rate the ability or the Charter orricer in
the rollowing personal straits and standards:Since -e nterest In the job;erreetiveness in working with ot
he
rs;eoinmunii.-ating with others cogperation‘and ?exibility.
x
well nelnw Btzlaw Reqiiiri.-meiiis
Requirements
Exceed.Requirements FarI-zxeu.-as
R
c
q
i
rements
Agenda Item #10.A.27 Sep 2021Page 76 of 223
comments:Brenna is always proressional and treats everyone with dignity nnd respect.Her personal tr
a
it
s
and
communication slu s are superior.
SECTION 3.JUDGMENT AND KNOWLEDGE.Please rate the a
the followi g ski
and dec
y orthe charter omcer in d
e
m
o
ns
tr
at
in
g
s ofjudgment and knowledge:Recognition or problems:application or common sens
e;
andlogic
on-lnnking principles.
X
well Bnlow neluw ncquirementt Nlcclx Rcquirelnenlu Exceeds Requirements Fa
r
Exceeds
Rgxgulrcments l
Comments:I trust her judgement across the board.she is one or the most through attorney‘s 1 have worked
with.Research is superior and correct.
SECTION 4.ACCONIPLISHNIENTS/AREAS OF STRENGTH
she reviewed and articulated a l of the City’s legal correspondence and made sure we do things the r
i
g
h
t
waythe
rirst time.Instrumental in City land purchases.
SECTION 5.AREAS OF IMPROVEMENT
Please Suggest areas in which improvement is needed:Continue to build the team with the City Nlanage
r
CityClerk
and Department Heads.
OVERALL RATING BASED ON
THE SCORES IN SECTIONS 1-3 X
well nelew Below Ivleclu Exceeds FarExceed.
Rcgulrcmenls Rcqulrcmzills Requirements Requirements Rcquircmcnls
7s_\~@.~;?//5/
<9-/Agenda Item #10.A.27 Sep 2021Page 77 of 223
0002/0007FAX9042215141BPC
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
The purpose of this appraisal is to evaluate perfonnanee,pinpoint strengths and accomplishments,and providesuggestionsforimprovement.in conducting performance reviews,these evaluations will provide a history of
perfomiance,developmentand progress.
t
L
V‘
has
‘SECTI_0N~11-ER1_rot?A'Nc1«;TXEKS/smNr3A_R1>s.=Pleaserate the al)i|ity.ofthedhartero_rri"c"ertocomplete 'l
i‘
CHARTERomcenNAME:¢%n/za/1//p24
REVIEW PERIOD:From:”7*’To:2/
%NUAL
DATE OFINITIAL/LASTREVIEW:
j M ‘Ii
‘_l
PERFORMANQERATING§
Far Exceeds Requirements:Performancewas consistently well beyond requirements
Exceeds Requirements:Performanceconsistently exceededresponsibilities,standards and objectivesMeetsRequirements:Performance consistentlymet the majority of responsibilities,standards and objectivesBelowRequirements:Perfonnancefrequently did not meet requircments
Well Below Requirements:Performanceconsistently fell well helow requirements
TYPE OF EVALUATION:
the responsibilltmsassi nedtiythe Chgirter.“.
_.
Well Below Bclnw Requirements Mtcts Requirements "Exceeds ?ulremcnts'Far ExceedsRequirements_Require?nts
Comments:/é/M4//64yo,{E/)1 AMI]W///ltibpd.
"sEcrioist_2j.PERSONAL4TR.Al'l‘S./STANDARDS._Pleaserate
‘the followingp'e‘r'son_alstraits’and stan'dards:'Sincere interest in the
.-communicatingwith4othcrs;.-cooperation;and?exibility.
the abilityjof the Charter O—IIicerinjdcmdnstrating‘-
A
job}effectivenessin\iV(_)I'I(I.lIg.WI‘lIlothers;
Far Exceedsxuccds?equircmcnts ‘
Requirements
F14’/re/hi x/_/9%’f/450'may cwM”’/5’-'i/’"‘°7"/§’”?M
Well Below Ilrlnw Requirements Mm.-tsRequire.-inents Agenda Item #10.A.27 Sep 2021Page 78 of 223
09/15/20214:17PM FAX 9042215141 BPC 0003/0007
-?7s11,g:~1iEiN3.
H
._J,1n>.<;1'u_E1x1r,AN1>i<1'vowL1;i)(;i:.’i-'i1;nsemetheabilityormeCniinerOfficer In demonstrating"
the following;8ki.lls,u'fjudgm,ent‘andkno\_vledge:1Rccogniti'onofprOblems;'applicationof commonsense;-_and'logl'e
and decision-makin rinci ?les.''.-
'
,1 .'
WellBelow Below Reqiisirumcnis MeetsRequirenienlab‘Exceeds Requirements Far Exceeds
Requirements
‘_Requirements
Comments:K/'Z/if/I-44’/,{/<fy_r//J‘/2./’é‘j/4 6//2 /''‘’/J
an 4’491//5/’/an//cv/)9/4 4’~75/MI It /Wu 2 /""/t‘
14/]four 44/,/r«#;//)/¢///////r/M‘V/74’//;"V
:§__ECTION4.g.gcoMx>L1sn£ENTs/ARE.§',oF STREN(;_'lj_{
Please note signi?cant accomplishments und specific areas of strength:
cg/?nial?//‘£}_.
?mz 2/’/6»4-4/w,%
V:/)/J/é/fxw‘
SECTIONS.A*lTE1AS0FIMPRQVEMENI.1"-"‘.‘T".-A
Please suggest areas in which improvement is needed:
/I///
OVERALL RATING BASED on '
THE sconns IN SECTIONS 1-3
I well Below Below '
Meets Far Extccds
Requirements Requirements Requirements Rc 11iremems'
‘//9%”As 44Commslnner’sSignature‘Date Agenda Item #10.A.27 Sep 2021Page 79 of 223
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
The purpose or this appraisal is to evaluate performance,pinpoint strengths and accomplishme
nts,
andprovide
suggestions for improvement.In conducting performance reviews,these evaluations will p
r
o
v
i
d
e
ahistoryof
perforrnance,development and progress.
CHARTER OFFICER NAIVIE:GENM TITLE:CWT‘!R *+Or1\§L
\/'
REVIEW PERIOD:From:Wm To:Q<x)\DATE OF EVALUATION:V3 S 53
‘
TYPE OF EVALUATION:jg:ANNUAL II)OTHER
DATE or INITIAL/LAST REVIEW:3425
PERFORIVIANCE RATINGS
Far Exceeds Requirements:Perrormsnee was consistently well beyond requirements
Exceeds Requirements:Performance consistently exceeded responsibilities,standards and objectives
Meets Requirements:Perforrnance consistently met the majority of responsibilities,standards and
Below Requirements:Perfurrnance Frequently did not meet requirements
well Below Requirements:Perronnance consistently fell well below requirements
SECTION 1.PERFORNIANCE TASKS/STANDARDS.Please rate the ability of the Charter Of?cer locomple
tetheresponsibilitiesassignedbytheCharter.
well Below at.-low Requirements Meets Requirements ‘Exeeeas Requirements I
’
-
‘
E
r
Exceeds
Requirements
Comments:mé \>wém \s‘W?“‘Q:/:\\lLPcLsooer/roe V\0 cit
e;
as,
g
V
-'hone‘Ywlnrc-
{:5-I
l’
hcr
\b"
~>.
V3“)Yvtu/G/j)$\MQ‘h:3\:\i‘:\1:v\*X:;tA‘xtjlk?\XSC‘~;/‘\/‘p‘§)
$'lbkQ'?:£rl()L
+S-
&J\Q4>t>'éocoll“/\aA‘hs W,H an .Q%\2_2.72,.gmagggj in’pz)
J6:§slLY\.:1|2\_)Pn\M\(O?ns-\u.~».—¥ttes'"+6 rwmm (umo/Hr |r'\hoe Clelek.
SECTION 1.PERSONAL TRAITS/STANDARDS.Please rate the ability of the Charter Officer in
the following personal straits and standards:sincere interest in the job;effectiveness in working with o
t
h
e
r
s;
communicating with others--:ocJ:teratlon:and ?exibility.
Bclnw Requirements Meets Requirements Exceeds Requirements F
o
r
Exceeds
~\-
'in
ommen s:\§T):,ir‘IS a\uJr~pkoa VF}wk)ul°"1¢W‘01
2‘.Ea mim yrQ£,O§Z:,L44“;mag oepr?ciocumwik av»;pshcla
W¢9a,§*“f€”‘?+¢"‘éo‘i“u.s“§”%§.xr:;sv£“*;aattkastle
rsgmoe
Agenda Item #10.A.27 Sep 2021Page 80 of 223
SECTION 3.JUDGMENT AND KNOWLEDGE.Please rate the ability of the Charter Offlcer in de
mo
nst
rat
lng
the rollowing skills nfjudgment and knowledge:Recognition of problems;application of common sense;andlogic
and cleclsion—making prlnciples.
wgu Bo.-low mlnw RcqIllr=n|enI.I Meets Rcquiremzntl Exc:cd5 Requirement:Exceeds
Requlrclncnls
Comments:“rd;ta 4.'13‘-7L9 x'Q<\.S—
LP)v O ‘C®£O 9V
Almmm +1:<1e+7,«z.llcemas +14 C”?9*“W “29P ‘
SECTION 4.ACCOIVIPLISHNIENTS/AREAS OF‘STRENGTH
Please note ?g flcant nccum Iishrne ts eci?c 3 e s of strength:
—v___7 _4,0 Q~(:l
[C+
(j/
\’Q|+\"aZ :iETJ‘IV)'V7Y
\rI\
#03“.wmrswg (,6;(A)/'\l;g 44,«Ho "§r*<2eA€V(L3J-9,Pom mg rwg\
+la<
¥ur§,
e2I1
,,p‘.QPm»g,§C.\;,,l‘{;zy\\{Q6 QJ'\(}(\/‘‘(374/:\a4J~
SECTION 5.AREAS OF Il\/lPROVEl\/IENT
Please suggest areas in which improvement is needed:
OVERALL RATING BASED ON
THE SCORES IN SECTIONS I-3 X
Wcll BI:lu\v Below lvlnzts Excccd:F-rExceed:
luqulrcmems Razqulrznlellls Requirunenu Rcqulrcnlrnls Reqllirelnc
nls
CBUMAUI)V3 39g?3:9:
CurnrnissIoner’s Slgnnture Date
Agenda Item #10.A.27 Sep 2021Page 81 of 223
CITY OF ATLANTIC BEACH
Charter Officer Performance Evaluation
:___
The purpose of this appraisal is to evaluate performance,pinpoint strengths and accomplishments,and provide
suggestions for improvement.In conducting performance reviews,these evaluations will provide a history of
performance,development and progress.
CHARTER OFFICER NAME:Brenna Durden TITLE:City Attorney
REVIEW PERIOD:From:09/2020 To:08/2021 DATE OF EVALUATION:9/14/2021
TYPE OF EVALUATION:I ANNUAL OTHER
DATE OF INITIAL/LAST REVIEW:09/22/2020
PERFORMANCE RATIISQQ
Far Exceeds Requirements:Performance was consistently well beyond requirements
Exceeds Requirements:Performance consistently exceeded responsibilities,standards and objectives
Meets Requirements:Performance consistently met the majority of responsibilities,standards and objectives
Below Requirements:Performance frequently did not meet requirements
Well Below Requirements:Performance consistently fell well below requirements
SECTION1.[PERFORMNola:TASKS/STANDARDS.Pleaseratetheability of the CharterOfficerto complete
the responsibilities assignedby theCharter.:A
I
.I ~
I I
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Comments:
the following personal straitsiandstandards:Sincereinterest inthejob;effectivenessin workingwith others;
»
icommunieatingwithothers;cooperation;and ?exibility.JWellBelowBelowRequirementsMeetsRequirements Exceeds Requirements Far ExceedsRequirementsRequirements Agenda Item #10.A.27 Sep 2021Page 82 of 223
Comments:
SECTION 3.JUDGMENT AND KNOWLEDGE.Pleaserate theability’of the Charter Officer in demonstratingthe
following skillsof judgment and knowledge:Recognition of problems;application of common sense;and logic and
decision-makingprinciples.
l «
Well Below Below Requirements Meets Requirements Exceeds Requirements Far Exceeds
Requirements Requirements
Comments:
SECTION4.ACCOMPLISSI-IMVENTS/AREASOFSTRENGTHWIW I W W
Please note signi?cant accomplishments and specific areas of strength:
SECTION 5.
I
AREAS 01+‘IMPROVEMENT
Please suggest areas in which improvement is needed:
OVERALL RATING BASED ONTHESCORESINSECTIONS1~3 Well Below Below Meets Exceeds Far ExceedsRequirementsRequirementsRequirementsRequirementsRequirements Agenda Item #10.A.27 Sep 2021Page 83 of 223
9/14/2021
Commissioner’s Signature Date
Agenda Item #10.A.27 Sep 2021Page 84 of 223
CITY OF ATLANTIC BEACH
CITY COMMISSION IVIEETING
STAFF REPORT
AGENDA ITEIVI:Report on results of/\ctuarial Valuation of Police and Gene
ral
Ernploye
ePensionFunds.
SUBIVIITTEI)BY:l\/lelissa Burns,Director ofFinanee lw
TODAY"S DATE:Septerriber 2.2021
IVIEETING DATE:Septetnber 27.2021
BACKGROUND:Annually,a.n actua ‘ial valuation is conducted on both pe
nsi
on
funds
separately to determine the City’s required contribution for the upcoming budget year wellasvvherc
the pension Fund is in relation to being 100%funded.A briefsun1n1ary ofeach fund is b
el
o
w
.
Cyencral lirngloyees‘Pension Fund:On page A-2 the Funded Ratio is outlined.The Gener
al
En1pIo
yee‘sPensionFundcurrentfundedrationis90.6%:conipared to 85.9%last year.
On page B-2 of the report.the Acttiarially Determined Contribution (ARC)can be found.Inadditionto
outlining what will be the required City contribution budgeted in Fiscal Year 2022 it offers acompari
sontothecurrent?scal year.For FY2021.the City"s ARC will be $1 .()99,876 which is lower t
h
a
n
thecurrent
required contribution of $l ,24-8,604.
Police Officers‘Pension Fund:On page A-3 of the Police ()f?cet‘S’Actuarial Valuation,tfundedratio
is 87.4%this year conmpared to 81 .4%froin last year.
on page B-2 ofthc report,the Aetnariauy Determined Contribution (ARC)can be found.Inadditionto
outlining what will be the required City conlri ution budgeted in Fiscal Year 2022 it offers acornpar
isontothecurrentFiscalyear.For FY2022,the City”s ARC will be $523,482 which lower t
h
a
n
currentyear
required contribution of $668.499.The Police Ol‘?ce|‘s‘Pension Fund,according,to Chapt
er
185Florida
Statutes,receives funds frorn the State which can be used to lower the City's contribution.Thisaniount
is lower than in the current ?scal year because two years of contributions were received toreporting
issues.Those reporting issues have been corrected.
In sununary,both funds increased their funding ratio and lowered the required ARC f
o
r
theupcoxning
Fiscal Year 2022.
BUDGET:None
RECOMMENDATION:For review and discussion
AT"I’ACHl\/I NT(S):City of Atlantic Beach General Einployees‘Retirenient Annual
Valuation as ofOetober 1,2020 and City ofAtlantic Beach Of?cers‘
Retirement Syst nnual Valuatio as of October 1 2020
REVIEWED BY CITY NIANAGER:Agenda Item #10.B.27 Sep 2021Page 85 of 223
Agenda Item #10.B.27 Sep 2021Page 86 of 223
CITY OF ATLANTIC BEACH POLICE
OFFICERS’RETIREI\/IENT SYSTEl\/I
ANNUAL ACTUARIAL VALUATION AS OF OCTOBER 1,202
0
Agenda Item #10.B.27 Sep 2021Page 87 of 223
ANNUAL EIVIPLOYER CONTRIBUTION
IS DETERIVIINED BY THIS VALUATION
TO BE PAID IN THE EIVIPLOYER FISCAL YEAR ENDING
SEPTEIVIBER 30,2022
Agenda Item #10.B.27 Sep 2021Page 88 of 223
G R S P")!')rl,577.l6l6 i F:-254.525.0083 i v
v
v
I
4
u
June 11,2021
Board of Trustees
city of Atlantic Beach
Police Officers’Retirement System
Atlantic Beach,Florida
Re:Clty of Atlantic Beach Police OffIcers'Retlrernent System
Actuarial Valuation as of October 1,2020 and Actuarial Disclosures
Dear Boa rd lvlernbersz
The results of the October 1,2020 Annual Actuarial Valuation of the City of Atlantic Beach Officers’
Retirement System are presented in this report.
This report was prepared at the request of the Board and is intended for use by the Re irem
ent
system
and those designated or approved by the Board.This report may be provided to parties ot
he
r
thanthe
System only its entirety and only with the permission of the Board.Gas is not responsible for
unauthorized use of this report.
The purposes of the valuation are to measure the System‘s funding progress and to determine the
employer contribution rate for the fiscal year ending september 30,2o22.This report should notberelied
on for any purpose other than the purposes described herein.Determinations offinanc al r
e
s
u
l
t
s
associated with the bene?ts described in this report for purposes other than those identl abov
e
may
be significantly different.
The contribution rate in this report is determined using the actuarial assumptions and meth
ods
disclosed
in section B of this report.This report includes risk metrics in section A but does not include amore
robust assessment of the risks of future experience not meeting the actuarial assumptions.Ad
diti
ona
l
assessment of risks was outside the scope of this assignment.
This valuation assumed the continuing ability of the plan sponsor to make the contributions nec
ess
ary
to
fund this plan,A determination regarding whether or not the plan sponsor is actually able dosois
outside our scope of expertise and was not performed.
The findings in this report are based on data and other information through september 30,20
20
.
The
valuation was based upon information furnished by the Plan Administrator concerning Retir
eme
nt
system
benefits,financial transactions,plan provisions and active members,terminated members,ret
ire
es
and
benefi iaries.we checked for internal reasonability and year-to—year consistency,but did auditthe
data.we are not responsible for the accuracy or completeness of the information provided bythePlan
Ad rnirlistrator.
This report was prepared using certain assumptions approved by the Board as authorized l=lorida
statutes and prescribed by the Florida statutes as described in the section of this report en
tit
le
d
Actuarial
.15:Dirt ..rtl Emil,Agenda Item #10.B.27 Sep 2021Page 89 of 223
The Board of Trustees
June 11,2021
Page 2
Assumptions and Cost l\/lethod.The investment return assumption was prescribed by the andthe
assurrled mortality rates detailed in the Actuarial Assumptions and Cost Method section wer
e
prescr
ibedbytheFloridaStatutesinaccordancewithFloridaStatutesChapter112.63.All actuarial assu
mpti
ons
used
in this report are reasonable for purposes of this valuation.
This report was prepared using our proprietary valuation model and related software which inour
professional judgment has the capability to provide results that are consistent with the purp
oses
ofthe
valuation and has no material limitations or known weaknesses.we performed tests to ensu
re
thatthe
model reasonably represents that which is intended to be modeled.
This report has been prepared by actuaries who have substantial experience valuing publi
retirement systems.To the best of our knowledge the information contained in this report iaccu
rate
and
fairly presents the actuarial position of the City of Atlantic Beach Police officers’Retirement sy
ste
m
asof
the valuation date.All calculations have been made in conformity with generally accepted
principles and practices,with the Actuarial standards of Practice issued by the Actuarial stan
dard
s
Board,
and with applicable statutes.
Nicolas Lahaye and Dina Lerner are lnerrlbers of the American Academy of Actuaries.These a
ct
u
ar
ie
s
meet the Academy's Qualification Standards to render the actuarial opinions contained herei
n.
The signing actuaries are independent of the plan sponsor.
This actuariai valuation and/or cost determination was prepared and completed by us or un
der
ourdirect
supervision,and we acknowledge responsibility for the results.To the best of our knowledge,theresults
are complete and accurate.in our opinion,the techniques and assumptions used are reasonab
le,
meet
the requirernents and intent of Part VII,Chapter 112,Florida Statutes,and are based on gene
rallyacceptedactuarialprinciplesandpractices.There is no benefit or expense to be provided b
y
thepian
and/or paid from the plan's assets for which liabi tles or current costs have not been establishe
d
or
otherwise taken into account in the valuation.All known events or trends which may require amateri
alincreaseinplancostsorrequiredcontributionrateshavebeentakenintoaccountintheval
uati
on.Gabriel,Roeder,smith at company will be pleased to review this valuation and Report with tBoardof
Trustees and to answer any questions pertaining to the valuation.
Respectfully sub rnitted,
GABR|EL,ROEDER,SIVIITH St CCIVIPANY
§)2»L°’—*'*\"’°‘V'“"’?‘r <>®4"uz'
_
BY
Nicolas Lahaye,FSA,EA,MAAA,FCA Dina Lerner.ASA,EA,IVIAAA,FCA
consultant &Actuary consultant 84.Actuary
GRS
Agenda Item #10.B.27 Sep 2021Page 90 of 223
Statement by Enrol ecl Actuary
This actuarial valuation and/or cost determination was prepared and completed by me or un
der
mydirect
supervision,and I acknowledge responsibility for the results.To the best of my knowledge,tresult
s
are
complete and accurate.In my opinion,the techniques and assumptions used are reasonable,me
et
the
requirements and intent of Part VII,chapter 112,Florida statutes,and are based on generally ac
ce
pte
d
actuarial principles and practices.There is no benefit or expense to be provided by the plan paid
from the plan's assets for which liabilities or current costs have not been establi hed or otherwi
se
takeninto
account in the valuation.All known events or trends which may require a material increase pla
n
costsor
required contribution rates have been taken into account in the valuation.
1,)1».-»«L«..\m.li.m,._
Signature
June 11 2021
Date
20-07775
Enrollment Number
Agenda Item #10.B.27 Sep 2021Page 91 of 223
Table of contents
Section Title
A Executive Summary
1.Executive summary
2.Risks Associated with Measuring the Accrued Liability and
Actuarially Determined Contribution
3 Valuation Results
1.Participant Data
2.Actuarially Deterrnined Contribution
3.Actuarial value of Benefits and Assets
4.state Premium Tax Revenues
5.Financial Soundness
5.Actuarial Gains and Losses
7.Recent History of valuation Results
8.Recent History of Required and Actual contributions
9.Actuarial Assumptions and Cost lvlelzhod
C Pension Fund Information
1.summary of Assets
2.summary of Fund's income and Disbursements
3.Reconciliation of DROP Accounts
4.Actuarial value of Assets
5.Investment Rate of Return
D lvliscellaneous Information
1.Reconciliation of Membership Data
2.statistical Data
E Summary of Plan Provisions
F Comparative Summary of Principal Valuation Results
Pag
e
A—1
B—1
B—2
B—3
B—5
B~9
B—13
B—15
B-15
C-1
C-2
C—3
C~4
C—6
D-1
D—2
Eel
F—1
Agenda Item #10.B.27 Sep 2021Page 92 of 223
SECTION A
EXECUTIVE SUMMARY
Agenda Item #10.B.27 Sep 2021Page 93 of 223
EXECUTIVE SUIVIIVIARY
Comparison of Required Employer Contributions
The following is a comparison of required contributions developed in this year's and the last
valuations:
Fur FVE 9/so/2022 For FVE '5/an/2021
Based on 10/1/znzo Based on 10/1/2015 Iricf
easeValuationValuatiun(
Decrea
se)
Gross contribution Requirement 735,409 $815,776 $(81,
367
)As %of Expected Payroll 37.68 at 44.07 %%
Expected Employee contribution 5 156.160 5 148,277 5
As %of covered Payroll 3.00 %8.00 %%
Required Employer/state Contributlcin $579,249 5 668,499 $(89
,
250
)
As 95 of Expected Payroll 29.68 %36.07 %96
Estimated state Contribution 5 136,427 5 272,854 *3 (135,
427)As %of covered Payroll 5.99 %14.72 ‘36 %
Required Employer contribution
(If Made in Equal Monthly installments)S 442,822 5 395,645 *5 47,
17
7AsasofcoveredPayroll22.63 %21.35 %96
Required Employer Contribution
(If Made in whole at the Beginning of the Year)5 427,202 5 331,590 '45,
51
2
As%of covered Payroll 21.39 at.20.59 -34.%
*Results have been updated to reflect a higher state contribution.A premium tax distribution of $135,427 w
as
calcu
lated
by
the state for FYE 2020 but will not be available to the Plan until FYE 2021.Therefore,two years’worth ofStz1remon
ey
is
expected to be received in FYE 2021.
Minimum Required Contribution
As illustrated in the preceding chart,the contribution necessary from the City and state to suppo
rt
the
current bene?ts for the Police Officers is $579,249 for the fiscal year ending september 30,202
2.
TheCity
can use the State premium tax moneys to satisfy part of that requirement,leaving the City cont
ribu
tion
at
$442,822 (assuming receipts of $136,427 from the state).However,the city may need to contr
ibute
more,
should receipts from the state fall short of the expected amount.Please note that the Required Em
plo
yer
contribution for that fiscal year is assumed to be deposited in monthly intervals throughout th
e
year.For
completeness,we are also presenting an amount required to be contributed if deposited in a sumat
the beginning of the contribution year in lieu of periodic installments.
City of Atlantic aeach Police Officers’Retirement syst
em
A~1‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 94 of 223
Revisions in Benefits
Ordinance No.58420-46,adopted on october 26,2020,amended the Plan by increasing the
minimum distribution age from 707:to 72 for participants reaching age 701/;on or after January 1,2020.This
change was made to comply with Internal Revenue code requirements and did not have an impact
on the cost of the Plan for prefunding purposes.
Revi Ions in Actuarial Assumptions or Nlethods
In compliance with Florida statutes chapter 112.s3(1)(r)which mandates the use of the mortal
ity
tables
used in either of the two most recently published actuarial valuation reports of the Florida R
et
ir
e
m
e
nt
system (FRS),the mortality tables and improvement scales were changed to reflect the update
d
mortalit
yassumptionsadoptedbyFRSaftera2019experiencestudyandusedintheJuly1,2019 and 1,2020FRS
Actuarial valuations.
The assumption change described above decreased the total required contribution by approxi
mately$323,000,or 1.94%of covered payroll.
Actuarial Experience
There was a net actuarial gain of $44,747 this year which means that actual experi nce was favorable
than expected.The actuarial ga'was primarily due to higher than expected benefits—weigI'lted
mortality experience among inactive members (approximately 544,000 in annual bene?t pay
ment
s
ceased
due to actual mortality experience since the prior valuation,versus an expected annual bene?t
s
reducti
on
of
approximately $11,500).The gain was partially offset by an investment loss on the actuarial ofassets
(59%recognized return compared to 6.75%assumed)and salary increases that were larger expected
(12.8%versus 6.1%expected).The investment return on the market value of assets was 4.1%fortheyear.
The net actuarial gain decreased the total required contribution by 0.24%of covered payroll
.
Analysis of Change in Employer Contribution
The Components of change in the actuarially required contribution are as follows:
contribution rate last year 21.35 %
Payment on UAAL (4.08)
Experience (gain)/loss (0.24)
change in administrative expense (0.53)
change in normal cost before expenses 0.40
Revision in benefits 0.00
Revision in assumptions/methods (1.94)
change in state Revenue 7.73
contribution rate this year 22.69 %
city of Atlantic aeach Police Officers‘Retirement systemA~2
‘G R 5 10/1/2020 Actuarial val
uati
on
Agenda Item #10.B.27 Sep 2021Page 95 of 223
Funded Ratio
The funded ratio,one measure of the Plan's financial health,is equal to the actuarial value of a
ss
et
s
divided
by the actuarial accrued (past service)liab ty.The funded ratio is 87.4%this year compared 81.4
%
last
year.The funded ratio would have been 85.0%prior to recognizing the assumption change.
Relationship to Nlarket Value
The actuarial value of assets exceeds the market value of assets by $429,374 as of the valuation date(see
section C).This difference will be gradually recognized over the next three years causing the
n to increase,in the absence ofoffsetting gains.contribu
If the market value of assets had been used in the valuation instead of the actuarial value of theCity
contribution rate would have been 24.98%(assuming payment is rnade in equal monthly in
st
all
m
en
ts
throughout the year)and the funded ratio would have been 84.7%.The funded ratio based o
n
therrlarket
value of assets was 80.2%last year.
Conclusion
The remainder of this Report includes detailed actuarial valuation results,financial information,
miscellaneous information and statistics,and a summary of plan provisions,
City of Atlantic Beach Police officers‘Retirement Sys
tem
A73‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 96 of 223
RISKS ASSOCIATED VVITH IVIEASURING THE ACCRUED LI
A
BI
LI
T
Y
AND ACTUARIALLY DETERIVIINED CONTRIBUTION
The determination of the accrued liability and the actuarially determined contribution requires theuseof
assumptions regarding future econom and demographic experience.Risk measures,as illus
trate
d
inthis
report,are intended to aid in the understanding of the effects of future experience differing the
assumptions used in the course of the actuarial valuation.Risk measures may also help with the
potential volati ty in the accrued I a ty and the actuarially determined contribution that res
ult
fromthe
differences between actual experience and the actuarial assumptions.
Future actuarial measurements may differ significantly from the current measurements presen
ted
inthis
report due to such factors as the following:plan experience differing from that anticipated b
y
theeconomic
or demographic assumptions;changes in economic or demographic assumptions due to changi
ngcondiions;increases or decreases expected as part ofthe natural operation of the methodology usedfor
these measurements (such as the end of an amortization per d,or additional cost or contributi
onrequirementsbasedonthePlan's funded status);and changes in plan provisions or applicable law.The
scope of an actuarial valuation does not include an analysis of the potential range of such futu
re
measurements.
Examples of risk that may reasonably be anti
condition include:
ipated to significantly affect the plan's future fi
n
a
n
c
i
a
l
1 Investment risk —actual investment returns may differ from the expected returns;
2.Contribution risk—actual contributions may differ from expected future contributions.Forexample,
actual contributions may not be made in accordance with the plan's funding policy o
r
mat
eria
lchangesmayoccurintheantipatednumberofcoveredemployees,covered payroll,orother
relevant contribution base;
3.salary and Payroll risk —actual salaries and total payroll may differ from expected,res
ult
in
g
inactual
future accrued liability and contributions differing from expected;
4.Longevity risk—members may ve longer or shorter than expected and receive pension
s
foraperiod
of time other than assumed;
5.other demographic risl<s—members may terminate,retire or become disabled at tim
es
orwith
benefits other than assumed resulting in actual future accrued liability and contributions differing
from expected.
The effects of certain trends in experience can generally be anticipated.For example if the i
return since the most recent actuarial valuation is less (or more)than the assumed rate,the oftheplan
can be expected to increase (or decrease).Likewise if longevity is improving (or worsening),i
n
c
r
e
a
s
e
s
(or
decreases)in cost can be anticipated.
The computed contribution shown on page A~1 may be considered as a minimum contribution thatcomplies
with the Board's funding policy.The timely receipt of the actuarially determined contributions iscriticalto
support the financial health of the plan.users of this report should be aware that contributions madeatthe
actuarially determined rate do not necessarily guarantee benefit security.
City of Atlantic Beach Police officers‘Retirement systemA-4‘G R S 1o/1/2020 Actuarial val
uati
on
Agenda Item #10.B.27 Sep 2021Page 97 of 223
Plan lvlaturity lvleasures
Risks facing a pension plan evolve over time.A young plan with virtually no investments and p
a
y
i
n
g
few
benefits may experience little investment risk.An older plan with a large number of members inpaystatus
and a sign ant trust may be much more exposed to investment risk.Generally accepted pla
n
matu
ritymeasuresincludethefollowing:
2020 2019
Ratio of the market value of assets to total payroll 7.1 7.0 7.
8Raofactuarialaccruedliabilitytopayroll8.4 8.8 9.
7Raofactivestoretireesandbeneficiares1.1 1.1 1.
1RatioofnetcashflowtornarketValueofassets22%—1.7%4
.
211.9 12.2Durationoftheactuarialaccruedliability
Ratio of lvlarket Value of Assets to Payrol
The relationship between assets and payroll is a useful indicator of the potential volatility of
For example,if the market value of assets is 2.0 times the payroll,a return on assets 5%differen
t
than
assumed would equal 10%of payroll.A higher (lower)or increasing (decreasing)level of this
measure generally indicates a higher (lower)or increasing (decreasing)volatility in plan sponsor
contributions as a percentage of payroll.
Ratio of Actuari I Accrued Liab ty to Payroll
The relationship between actuarial accrued lia y and payroll is a useful indicator of the poten
tial
volatility
of contributions for a fully funded plan.A funding policy that targets a funded ratio of 100%ex
pe
cte
d
to
result in the ratio of assets to payroll and the ratio of liability to payroll converging over time.
The ratio of liability to payroll may also be used as a measure of sensitivity of the liability itself.Forexample,
if the actuarial accrued liability is 2.5 times the payroll,a Change in liability 2%other than assurr
led
would
equal 5%of payroll.A higher (lower)or increasing (decrea g)level of this maturity measure g
e
n
e
r
al
l
y
indicates a higher (lower)or increasing (decreasing)volatility in liability (and also plan sponsor c
o
nt
ri
b
ut
io
ns
)
as a percentage of payroll.
Ratio of Actives to Retirees and Beneficiaries
A young plan with many active members and few retirees will have a high ratio of active to re i
r
e
e
s
.
A
mature open plan may have close to the same number of actives to retirees resulting in a ratio ne
ar
1.0.A
superarnature or closed plan may have significantly more retirees than actives resulting in a rat
io
below1.0.
City of Atlantic Beach Police officers’Retirement syst
em
A-5‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 98 of 223
Ratio of Net Cash Flow to Ivlarket Value of Assets
A positive net cash flow means contributions exceed benefits and expenses.A negative cash f
l
means
existing funds are being used to make payments.A certain amount of negative net cash flow isgener
allyexpectedtooccurwhenbenefitsareprefundedthroughaqualifiedtrust.Large negative net ca
sh
flowsasa
percent of assets may indicate a superrmature plan or a need for additional contributions.
Duration of Actuarial Accrued Liab ity
The duration of the actuarial accrued liability may be used to approximate the sens vity toa1%change
in the assumed rate of return.For example,duration of 10 indicates that the liability would in
cr
ea
se
approximately 10%if the assumed rate of return were lowered 1%.
Add‘ional Risk Assessment
Additional risk assessrnent is outside the scope of the annual actuarial valuation.Addi ional
may include scenario tests,sensitivity tests,stochastic modeling,stress tests,and a comparison ofthe
present Value of accrued bene S at |ow—Sk discount rates with the actuarial accrued liability.
city of Atlantic Beach Police officers Retirement systemA-6
10/1/2020 Actuarial Va
lua
tio
n
Agenda Item #10.B.27 Sep 2021Page 99 of 223
SECTION B
VALUATION RESULTS
Agenda Item #10.B.27 Sep 2021Page 100 of 223
Covered Annual Payroll
Average Annual Payroll
Average Age
Average Past Service
Average Age at Hire
Annual Benefits
Average Annual Benefit
Average Age
Number
Annual Benefits
Average Annual Benefit
Average Age
Annual Benefits
Average Annual Benefit
Average Age
|«.‘l',-wry H21-
Octohr 1,
___
October 1
$1,853,832
5 77,243
43.3
11.5
595,450
33.081
66.7
26
1,760,2
4
767,
539,
33,
5
city of Atlantic Beach Police of?:ers'Retirement System
10/1/2020 Actuarial Va
lua
tio
n
3-1
Agenda Item #10.B.27 Sep 2021Page 101 of 223
»xcruia‘rf~§.L:i<¢.blsrale-vr}~':.n_,o..m.autio~m&m~
A.Valuatlon Dale Octcber 1,2020 October 1,2020 Octob
er
1,2019
AfterAssumptIan Before Assumption
change change
B,ABC to Be Paid During
Fiscal Vear Ending 9/30/2022 9/30/2022
c.Assumed Date(s)of Emplayercontrlbuuon Monthly lvlunlhly M
on
th
ly
‘D.Annual Payment to Amortize
Unfunded Actuarlal Llablllly
if Paid on the Valuation Date 5 245,047 5 277,742 5 33
5,
05
5
E1 Employer Normal cast
(Including Aomlnistrative Expenses)1
If Pald on the valuatlon 274,435 280,000 25
3,
04
5F.Actuarially Determined contribution (ADC)
if Paid on the valuation Date:D +E 523,482 557,742 5
0
4,
1
4
0
6.ADC Adjusted for Frequency of
Payments and Interest to Requlred Time
of cantrlbution 575,249 617,158 5
5
3,
4
9
9
W
H.Covered Payroll for Ccntribution veer 1,952,005 1,952,005
I.ADC as %of Expected covered
Payroll In the contrlbutlon VEarG +H 29.53 95 31.62 96 35.07as
J.Estimate of state Revenue in
Contribution vear*135,427 135,427 2
7
2
,
8
5
4
Actuarially Determined contrlbutlon
in contribution vear 442,822 480,731 3
9
5
,
6
4
5
1
L ADEC as %of covered Payroll
contribution Year:I<H 22.59 95 24,53 95 21.35%
NI.Actuariallv Deuermlned contribution
if Paid on the First Day of the Contribution Year 427,202 453,775 3
8
1
,
6
9
0
-chapter 1.-:5 F/orida statutes.The City contribution amount may need to be increased if the omaunt recei
ved
under
the provisions of Chapter 135,Florida Stalutes,is not su?lcient to meet the total employer eantriburian require
ment,
city of Atlantic Beach Pollce Officers’Retlrernent syste
m
B—2GRS10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 102 of 223
J—=1
A,valuation Date
B,Actuarial Presentvalue of All Projected
Benefits for
1.Active Members
a.service Retirement Benefits
b.vest rig Benefits
c.Disability Benefits
:1.Preretlrement Death Benefits
e.Return of Member contributions
f.Total
2,inactive Members
a.Service Retirees st Beneficiaries
b.Disability Retirees
c,Terminated vested Members
d.TolaI
3.DROP Balances
4.Total f0rAll lvlernbers
C.Actuarial Accrued (EAN Past service)
Liability (including reserves)‘
D.Actuarial value of Accumulated Plan
E.Plan Assets (including reserves)*
1.lvlarketvalue
2.Acluarial value
F.unfunded Actuarial Accrued Liability
(ca E2)
6.Actuarial Present value of Projected
Covered Payroll
H.Actuarial Present value of Projected
Mern ber Contri buttons
’Includes DROP balances.
October 1,2020 October 1,2020 October 1,2019
AfterAssumptian Before Assumption
Change change
$9,541,742 $9,736,173 38,
537,
570599,212 507,038
212,455 210,368
63,590 92,047 8
7,
D24
53,257 59,533 5
3
,
0
3
1
10,555,555 10,755,154 9,
6,153,797 6,430,078 7,
02
0,
57
7
7aa,142 799,000
298,221 305,003
7,240,150 7,534,095 3,
11
5,
23
3
175,616 175,616
13,001,342 18,474,866 17,
938,
193
15,535,202 15,977,744 15,
405,
385
13,540,913 13,942,097 13,
595,
167
13,153,135 13,153,135 12,
349,
99113,582,550 13,592,550 12,
538,
570
1,952,542 2,395,184 2,
86
7,
71
612,379.155 12,355,407 12.192
990,332 588,433 1,
01
4,
25
5
City of Atlantic Beach Police officers‘Retirement System
10/1/2020 Actuarial val
uati
on
Agenda Item #10.B.27 Sep 2021Page 103 of 223
State Premium Tax Revenues
Actuarial Confirrnation of the use of State chapter lVlnneV
1.Accumulated Excess at Beginning of Previous vear 0
2.Amount Received for Previous Plan Vear 132,844
3.Amount used in Previous Plan vear*132,844
4.Accumulated Excess as of Valuation Date
(Held in Reserve for Benefit Improvements):(1)+(2)-(3)
5.Expected Amount to be Received This Plan Vear**:272,854
‘Pursuant lo the agreernelll between the City and the Police Benevolent Association,the City h
a
s
accessto
all Chapter 185 revenue to fund the Unfunded Actuarial Accrued Liablllty,subject to an actuarial Certlf
icatlo
n,
and consequently there was no increase In the Accumulated Excess Premium Tax Revenues.
*"A State prerniurn tax distributlon of$136,427 was calculated For FYE 2020 but will not be a
v
a
il
a
b
l
e
tothe
Plan untll FVE 2021.Therefore.two years’worth of State money is expected to be received In 2021.
Clty of Atlantic Beach Police Offlcers’Retirement syst
em
Bell‘G R 5 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 104 of 223
FINANCIAL SOUNDNESS
The purpose of this portion of the Report is to provide certain rneasures which indicate the
soundness of the program.These measures relate to short term solvency and long term solve
ncy.
The various percentages listed in this section as ofa single valuation date are not that sign:a
nt
.
whatis
significant,however,is the trend ofthe rates over a period of years.it is also important to k
e
e
p
inmindthat
each time benefits or assumptions are revised;actuarial liabilities are created or diminished.A
ny
newly
created liabilities are financed systematically over a period of future years.All actuarially co
mp
ute
d
values
in this analys are based on the actuarial assumptions utilized in the respective years‘actuarial valuat
ions.
Short Term Solvency
The ultimate test of financial soundness is the program's ability to pay all promised benefits due.The
program's progress in accumulating assets to pay all promised benefits can be measured by the
market value of assets with:
The actua I present value of projected benefits payable to those already receiving andto
vested terminations,and
2.The actuarial present value of accrued benefits payable to active participants.This isbased
on benefits earned to date without future credited service or salary increases.
The total of the two items should generally be fully covered by assets.That portion of the tot
al
ofthetwo
items covered by assets should increase over time.often assets continue to grow beyond th
e
actu
arialpresentvalueofthesetwoitems.
10/1/2020 10/1/
2013
1.Accumulated contributions
of Active Members 5 1,030,020 $901,950 $756,
326
2.APV of Projected Benefits in
Pay status and for vested
Tern'linationS"‘7,415,776 8,288,263 8,730,
518
3.APV of Accrued Benefits for
Active Participants
(Employer Portion)5 095 122 4 505 944 3 943
4.Total 13,540,918 13,696,167 13,430,246
5.Market Value of Assets“13,153,186 12,349,591 12,164,644
5.Assets as 96 of Total 97 %90 %91%
'DROP balances are Included.
city of Atlantic Beach Police officers’Retirement systemB—5‘G 10/1/2020 Actuarialval
uazion
Agenda Item #10.B.27 Sep 2021Page 105 of 223
Ratio of Ivlarket Value of Assets to
Present Value of Accrued Benefits
$16.0 150
%
514.0 --
5124:~-
’
-»100
%510.0 —
$8.0 --
0!lE}]
$6.0 ——
50
%
54.0 —~
2009 2010 2011 2012 2013 2014 2015 2015 2017 2013 2019 2020
Actuarial Valuatlon Date
Market value of Assets v Accrued Benefits —.—Rat N
increases in benefits will,of course,adversely affect the trend in the years when such increases arefirst
reflected in the actuarial values.Although different actuarial assumptions would be used in t
h
e
eventofa
termination of the program,th test shows how much of the benefits accrued to data might cove
red
by
assets in the event of a plan freeze using the valuation assumptions.
City ofA(|ant1c Beach Police officers‘Retirement Syst
em
B-6‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 106 of 223
Long Term Solvency
over the longer term,the solvency of an ongoing plan can be measured by comparing the Ac
tu
ari
al
valueof
Assets to an amount known as the Actuarial Accrued Liability (AAL)under the Entry Age Actuar
ial
cost
Method.This item has often been called the "past service liability".lts derivation differs fro
m
theshort
term solvency value derivation in several ways.The short term solvency liab y number is b
a
s
e
d
onthe
benefits accrued to date by the participants while the long term solvency liabi ty number is onwhat
the normal costs accrued to date by the employer.In addition,the short term solvency asset nu
m
be
r
isthe
market value,while the long term asset number is the actuarial value or assets.As in the cas
e
ofth
e
short
term solvency values,the AAL is affected immediately by any revisions in benefits or assumptions
.
The
accumulation of assets to equal the AAL can be considered a long range funding goal.
Aiziilarlal Value-of Actuarial Accrued
valuation Assets Liability 9;9f AAL covered
Date,(in fhousands)(in Thousands)by Assets
9/30/03 *$4,373 5 5,986 73 %
9/30/04 4,534 5,405 71
9/30/05 4,775 6.997 68
9/30/05 5,175 7,034 74
9/30/07 *5,553 7,520 74
9/30/03 5,754 8.112 71
9/30/09 *5,922 8,689 53
9/30/10 *5,154 9,449 55
9/30/11 5,305 10,055 53
9/30/12 *5,350 10,559 55
9/30/13 7,429 10,895 68
9/30/14 *,**3,270 12,555 55
9/30/15 **9,030 13,400 57
9/30/15 *,*=*9,532 13,999 59
10/1/17 *,=**10,531 14,800 72
10/1/18 **11,395 15,117 79
10/1/19 **12,539 15,405 81
10/1/20 *=,**13,553 15,535 .37
*Reflects change in bene?ts,actuarial assumptions and/or method.
**DROP balances are being included in Actuarial Accrued Liability and in P
la
n
Assets
beginning with the september 30,2014 valuation.The Excess Premium Tax Liability (ifany)is
being included in Actuarial Accrued Liability and in Plan Assets beginning with the
30,2015 valuation.
City of Atlantic Beach Po|ice Officers’Retirement systemB—7
‘G R S 10/1/2020 Actuarial valu
atio
n
Agenda Item #10.B.27 Sep 2021Page 107 of 223
$18.0
$16.0
$14.0
$12.0
$10.0
$8.0
$6.0
$4.0
$2.0
$0.0
Ratio of Actuarial Value of Assets to Actuarial
Accrued Liahn
1
5
0
10
0
%
E
3'
50
%
0%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
ctuar al Assets
Actuarlal Valuation Date
ccrued —O—Rat 0
City of Atlantic Beach Police officers’Retirement Sys
tem10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 108 of 223
ACTUARIAL GAINS AND LOSSES
The assumptions used to anticipate mortality,employment turnover,investment income,ex
pe
nse
s,
salary
increases,and other factors have been based on long range trends and expectations.Actual e
x
p
e
r
i
e
n
c
e
can
vary from these expectations.The variance is measured by the gain and loss for the period i If
ant long term experience reveals consistent deviation from what has been expected thatsig
deviation is expected to continue,the assumptions should be modified.The net actuarial gai
n
(
loss
)
forthe
past year is computed as follows:
erxvaiu n oféxpe
Last Year's UAAL
Last Year's Employer Norrnal Cost
Last Vear's Actual City and State Contributions
Interest at the assumed rate on:
a.lfcr one year
b.2 for one year
C.Sfrom dates paid
d.a+b—c
This Year's Expected UAAL
1 +2 -3 -6-4d
This vear's Actual UAAL (before any
changes in benefits or assumptions)
Net Actuarial Gain (Loss):(5)—(6)
Gain (LOSS)due to investments
Gain (Loss)due to other sources
$2,8674715
268,045
877,866
193,571
13,093
29,628
182,036
2,439,931
2,395.184
44,747
(91,292)
136,039
City of Atlantic Beach Police Officers’Retirement system
10/1/2020 Actuarial Val
uati
on
B-9
Agenda Item #10.B.27 Sep 2021Page 109 of 223
Net actuarial gain (loss)in previous years have been as follows:
‘Year Eiltlad
9/30/1995 95,019
9/30/1999 117,515 212,537
9/30/2000 (103,871)103,755
9/30/2001 1.359 110,155
9/30/2002 (125,212)(13,057)
9/30/2003 (339,553)(357,520)
9/30/2004 (207,303)(555,423)‘3/30/2005 (237,225)(352,553)
9/30/2005 41 1,559 (441,094)
9/30/2007 (137,905)(578,999)
9/30/2003 (305,022)(537,021)
9/30/2005 (323,552)(1,210,503)
9/30/2010 154,731 (1,055,572)
9/30/2011 (451,201)(1,507,073)
9/30/2012 (32,597)(1,539,770)
9/30/2013 115,051 (1,424,709)
9/30/2014 95,415 (1,329,292)
9/30/2015 (154,573)(1,433,855)
9/30/2015 (355,145)(1,350,011)
9/30/2017 105,034 (1,743,927)
9/30/2013 390,935 (1,352,991)
9/30/2015 (35,319)(1,395,310)
9/30/2020 (1,353,553)
Actuarial Gain (+)or Loss (—)
$2 $2
$1 3
~$1
so 5 —so
(51)E —($1)
($2)
'
($2)
o,~<’>".i,\‘*°(;\°°$,\°Z,\°“.$,\°'2\°Y;®"3,$“;,\'9o,®Q;®°$,\‘%,\*Z.\“3?=,\*3i,
\“%,\“5'§.;\%\“%\*?;,\“53;§Plan Year End
jGa|n or Loss ~—o—CumuIative
City of Atlantic Beach Police olficers‘Retlrement Sys
tem
a—1o‘G R 5 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 110 of 223
The fund earnings and salary increase assumptions have considerable impact on the cost of th
e
Plansoitis
important that they are in line with the actual experience.The following table shows the hist
ory
ofactuarial
fund earnings and salary increase rates compared to the assumed rates.
9/30/2003
9/30/2004
9/30/2005
9/30/2006
9/30/2007
9/30/2008
9/30/2009
9/30/2010
9/30/2011
9/30/2012
9/30/2013
9/30/2014
9/30/2015
9/30/2015
9/30/2017
9/30/2018
9/30/2019
9/30/2020
XHI-‘HOHNWHNU maw9w<N9w35N~rwHwmmmhwmmoswvmwwwmwuwwmmmH
(0.2)
9¢¢mddOODOODODGODGOOOH-N.»M5??9NNNHNNNMW9?9P9PD-|\l\1mU||!|U|U|0\bbhU\UV\1UH/‘UlW“‘“mPP9NNN%M wwowvmwmmmvI9mX
Ave rage
The actual investment return rates shown above are based on the actuarial value of assets.actual
salary increase rates shown above are the increases received by those active members who included
in the actuarial valuations both at the beginning and the end of each year.
clty of Atlantic Beach Police officers‘Retirement system341
‘G R S 10/1/2020 Actuarial val
uat
ion
Agenda Item #10.B.27 Sep 2021Page 111 of 223
History of Investment Return —Actuarial Value of Assets
15%15%
10%10%
5%5%
0%0%
-5%
_
—5%
0,v 9;‘o *\«b 9 o v»'1,'5 5-<5 to «=5 0;<a\°03$’=»\°o.\°°>\°’<a\°'°;\°’<>,~\"’oh"9\'\’0)"q\"’OX‘<a\"’q\”o;\'’ca\”O
X
”
Planvear End
—-—Ar:tuaI a—Assumed
History of Salary Increases
20%_20%
15%15%
10%10%
5%5%
0%0%
-5%—
'—
5%o;u o;<0 /\q;0.Q 5.'»-5 \>-<5 ‘o ’\<2:o)o,\°q\°.=,\°q\°o,\°q\°q\°o,\\’'99/0;»q\"*av or o,\“'o,\*c.,\“/qv %
\"’Plan Year End compared to Previousvear
—-—Actua|—o—Assurned
City of Atlantic Beach Police officers‘Retirement Syst
em
B-12‘G R S 10/1/2020 Actuarlal
Agenda Item #10.B.27 Sep 2021Page 112 of 223
T .RECENTH|STQR¥r0F‘VALUAT|0N RESULTS
Number of Reported Covered ActuarialValue of Employer NormalCast”
Valuation Active Inactive Annual Payroll Assets UAAL Amount %of Covered
Date Members Members (in '|'hausands)?n Thousands)(in Thousands](inThousands)Payroll
9/30/03 '22 15 5 1,129 S 4,373 $1,613 S 182 16‘12 %
9/30/04 27 16 1,360 4,534 1,871 220 15.21
9/30/05 26 18 1,402 4,775 2,222 228 1625
9/30/06 24 19 1,254 5,175 1,859 211 16.84
9/30/D7
.
25 19 1,453 5,663 1,957 200 13,74
9/30/08 26 19 1,476 5,764 2,348 207 13.99
9/30/09
.
27 20 1,697 5,922 2,767 244 14.36
9/30/10
.
27 21 1,639 6,164 3,285 247 15.08
9/30/11 26 22 1,606 6,305 3,760 260 16.17
9/30/12
.
26 23 1,548 6,880 3,679 208 1344
9/30/13 22 24 1,360 7,429 3,466 176 12992
9/30/14
.
21 25 1,295 8,270 4,387 208 16.08
9/30/15 19 27 1,247 9,030 4,370 214 17.18
9/30/16
.
23 26 1,534 9,632 4,367 234 15.26
10/1/17
‘23 26 1,577 10,631 4,169 262 16.62
10/1/18 24 26 1,566 11,896 3,221 233 1488
10/1/19 26 26 1,760 12,539 2,868 268 15.23
10/1/20 '24 25 1,854 13,583 1,953 274 14.80
‘Reflectschange in bene?ts,actuarial assumptions and/ormethod.
"For Valuations prior to 2009,Normal Cost is a mid-year amount,excluding any administrative expenses.
Beginning with 9/30/2009valuation,Normal Cost is a beginning ofthe year figure,including administrative
expenses.For all years,%of Covered Payroll is Normal Cost Shawn expressed as a %of Covered Valuation
Payroll.
City of Atlantic Beach Police Officers’Retirement System B-13GRS10/1/2020Actuarial Valuation Agenda Item #10.B.27 Sep 2021Page 113 of 223
Recent History of Number of lvlernbers
50
40
30
20
10
D
‘
_
@\°@&"’\Qo,\°°’é.,\°‘°é,,\\s==\:§>\~9 9»\o \<>\»v \<?\»<<>Q\eQ\<e=Q
\«9§\¢=-e>e:qsae>cea<s>:e>.s»@»*»»»
Actuarial Valuation Date
6‘
—ACtiVe |\/lembers —Inactive Members
MiHions
Recent History of Covered Annual Payroll
$2 .0
$1 .5
5 1 .0
S0 .5
so _0 ,..,,,.,J
@\$b@\®‘&\6(’&\dQ@§\&@&,@®\’$@\'§>@\’;v@‘0&\’\’§-®
\§c@\\§,\9\';\,\9\’$’,$\’e_\9&
Actuarial Valuation Date
City of Atlantic Beach Police Officers‘Retirement Syst
em10/1/2020 Actuarial
B—14
Agenda Item #10.B.27 Sep 2021Page 114 of 223
Valuation
End of Year To
Vllhlch
Valuatlon
Applies
9/30/05
9/30/07
9/30/03
9/30/09
9/30/10
9/30/11
9/30/12
9/30/13
9/30/14
9/3o/15
9/3o/15
10/1/17
10/1/13
10/1/19
10/1/20
9/30/03
9/30/09
9/30/10
9/30/11
9/30/12
9/30/13
9/30/14
9/30/15
9/30/15
9/30/17
9/30/13
9/30/19
9/30/20
9/30/21
9/30/22
Required Ernploye r/state
Contributions Actual
Employer/State
%of Expected Contributions
Amount Paxroll
3 309,341 22.30 %5 309,342
345,230 21.93 345,230
425,323 25.52 425,323
437,032 25.43 437,032
523,909 35.13 523,393
505,741 35.53 509,012
554,230 39.99 559,420
555,091 45.10 577,54
2325,700 so.14 342,455
349,051 54.53 945,540
341,725 52.12 1,091,552
325,705 49.79 325,705
553,090 40.50 377,355
553,499 35.07 »
579,249 29.53 —
‘Reflects change In bene?ts,actuarial assumptions and/or method.
City of Atlantic Beach Ponce officers’Retlremenl;system
1o/1/2020 Actuarial Va
lua
tio
n
B-15
Agenda Item #10.B.27 Sep 2021Page 115 of 223
ACTUARIAL ASSUIVIPTIONS AND COST IVIETHOD
Valuation lvlethods
Actuarial cost Method -The actuarial cost method is a procedure for allocating the actuarial prese
ntvalueofbenefitsandexpensestotimeperiods.Normal cost and the allocation of benefit between
service rendered before and after the valuation date were determined using the Entry-Age cost
Method.The entrv—age actuarial cost method allocates the actuarial present value of each
projected benefits on a level basis over the member's pensionable compensation between tentryage
of the member and the estimated active status exit ages.The portion of the actuarial present value
allocated to the valuation year is called the normal cost.The portion of the actuarial present valu
e
not
provided for by the actuarial present value of future normal costs is called the actuarial accr
ued
liability.
Deducting accrued assets from the actuarial accrued lia v determines the unfunded actuari
al
accrued
liability.
'ies A The unfunded actuarial accrued liability wasFinancingofUnfundedActuarialAccruedLiab
financed as a level percent of member payroll.
Actuarial value of Assets —The Actuarial value of Assets phases in the difference between expect
edandactualreturnonmarketvalueofassetsattherateof25%per year.The Actuarial value ofAssetswill
be further adjusted to the extent necessary to fall within the corridor whose lower limit is 8
0
ofthe
l\/larket value of plan assets and whose upper limit is 120%of the Market value of plan assets.Durin
gperiodswheninvestmentperformanceexceedstheassumedrate,Actuarial value of Assets w
il
l
tendto
be less than Market value.During periods when investment performance is less than assume
d
rate,
Actuarial value of Assets will tend to be greater than Market value.
Valuation Assumptions
The actuarial assumptions used in the valuation are Shown in this Section.VVith the exception ofthe
rrlortality assurnption,which is prescribed by Florida Statutes,all assumptions listed herein
established following the Assumption Study and Experience Review for the Seven Years Ende
d
Septe
mber30,2015,dated August 9,2017.
Economic Assum ptiorls
The investment return rate assumed in the valuations is 5.75%per year,compounded annual
ly
(netof
investment expenses).
The price inflation rate assumed in this valuation was 2.5%per year,
The plan does not provide for automatic post—retirernent cost of living adjustments (COLA)retire
ebenefits.Ad—l-ioc COLA increases have been adopted in the past upon approval by the city.
recently,such increases have been granted in 1937,1995 and 2001.No assumptions are ma
de
regardi
ngfutureadjustments.Any such increases will be recognized as they occur.
city of Atlantic Beach Ponce officers‘Retirement syst
em
Bsl?‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 116 of 223
The payroll growth rate would be 3.5%,except that it is limited this year due to the lower payroll
growth rate over the last 10 years in accordance with the requirements of ch.112.54 (5)(
a
),
F.S.Therate
used to amortize the unfunded actuarial accrued liabilities is 1.24%per year.
The total rate of return is defined as earnings resulting from interest,dividends,realized g
ai
n
s
(losses)
and unrealized appreciation (depreciation)divided by the beginning market value of the fu
nd
,
adjuste
dforcashflowduringtheyear.The total rate of return is assumed to be 6.75%per year,net ofinvestm
ent-related expenses.
The rates of salary increases used in the valuation are illustrated in the following table.Th
ese
rates
include price inflation of 2.5%.
Annual Rates for salary increase for sample Ages
Age:20 30 40 so 60
Expected Increase 18.5%9.3%5.9%5.1
%
4.5%
Derrl ographic Assurn ptions
The mortality tables used in the valuation are the same rates in use for special Risk class ofFRS
in the July 1,2020 FRS Actuarial valua n as prescribed by the Florida statutes chapter 11
2.5
:-l
(1)
(f)
which
mandates the use of the mortality tables from either or the two most recently published a
ct
u
ar
ia
l
valuation reports of FRS.They are based on the PUB»201O Headcount Weighted Mortality
described below,with mortality improvements projected to all future years after 2010 usingscal
e
NIP-
2018.
Pre~Retirerrlent l>ul3—2o1o Table Post-Retirernent PUB—201O
Female Headcount Weighted safety l-leadcount weighted safety H
ea
lth
y
Employee Female Table,set forward 1 Retiree Female Table,set fo
r
w
ar
d
1year
year
Male Headcount Weighted safety Below Headcount weighted safety Be
lo
wMedianEmployeeMaleTable,set Median Healthy Retiree lvlal
e
Tabl
e,
set
forward 1 year forward 1 year
The following tables present post—retirement mortality rates and life expectancies at illustrati
ve
ages.
These assumptions are used to measure the probabilities of each benefit payment being after
retirement.
city of Atlantic Beach Police officers‘Retirement systemE—17
10/1/2020 Actuarial val
uat
io
n
€5
Agenda Item #10.B.27 Sep 2021Page 117 of 223
FRS Healthy Post-Retirement Nlortalitv for Special Rlsk Class lvlernhers
sample probability of Future Lire
Attained Dying Next vear Expectancy (years)
Ages (in 2020)Men women Men women
50 0.42 -34.0.20 %32.40 35.24
55 0.55 0.35 27.63 31.21
50 0.93 0.51 23.05 25.43
55 1.32 0.92 18.80 21.93
70 2.09 1.45 14.80 17.68
75 3.55 2.44 11.21 13.75
so 5.35 4.19 5.14 10.30
The following tables present pre-retirerrlent mortality rates and life expectancies at illustrative age
s.This assumption is used to measure the probabilities of active members dying prior to retirement.
FRS Healthy Preaketirerrlenk Ivlortal ty for Special Risk Class l\/lernbers
sample Probability of Future Life
Attained Dying Next vear Expectancy (years)
Ages (In 2020)Men women Men women
50 0.17 as 0.11 as 35.53 39.50
55 0.25 0.15 30.50 34.35
50 0.43 0.22 25.55 29.30
55 0.59 0.30 20.30 24.29
70 1.18 0.55 16.28 19.39
75 2.09 1.03 12.05 14.59
so 5.35 4.19 3.14 10.30
For disabled retirees,the mortality table is a blend or 50%of the PUB—201D Headcourlt w h
t
e
d
Genera
lDisabledRetireeTableand20%of the PUB~201O Heaocount Weighted Safety Disabled Retiree Ta
bl
e,
both
with separate rates for rrla|e5 and females and no provision being made for future mortality i
FRS Disabled l’VlarI:aIity for Special Risk Class Ivlernbers
Sarnple Probab ty of ruture Life
Attained Dying Next Year Exgectancy (years)
Ages (in 2020)lvlen \I\Inl'vIel1 IVlerI Vllornen
50 1.45 as 1.25 %24.04 26.84
55 1.91 1.50 20.33 23.54
50 2.37 1.81 17.92 20.32
65 3.00 2.22 15.07 17.17
70 3.91 2.90 12.39 14.10
75 5.30 4.)3 9.87 11.22
SD 7.55 6.21 7.60 8,57
City of Atlantic Beach Ponce officers‘Retirement syst
em
B—18‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 118 of 223
The rates of retirement used to measure the probability of eligible members retiring under rio
rrn
al
and
early retirement eligibility were as shown below.
Normal Retire rnent/DROP
Year of Percent of Eligible
Employees Retiring
50%
30%
10%
10%
40%
6 A 9 50%
10 and Over 100%
Add iorlally,the rate of retirement is assumed to be 100%upon attainrrient of age 50 and of
5 years of service (applies only to rnernbers hired before January 1,2013).
Early Reti rerne nt/DROP
Retirement Percent of Eligible
Ages Employees Retiring
so 10%
51 10%
52 10%
53 10%
54 10%
Rates of Disab ty among active members (67%of disability incidences are assumed to be s
connected)
Percent Becorning Disabled
\IV‘th'n Next Year
Sample
Ages IVlen \I\IorrIen
20 0.14%0.14%
25 0.15%O.15%
30 0.18%0.18%
35 0.23%0.23%
40 0.30%0.30%
45 0.51%0.51%
50 1.00%1.00%
55 1.55%1.55%
60 0.00%0.00%
city of Atlantic Beach Police officers‘Retirement systemB-19‘G R S 10/1/2020 Actuarial Va
lu
ati
on
Agenda Item #10.B.27 Sep 2021Page 119 of 223
Rates of separation from active membership are as shown below (rates do not apply to me
mb
ers
eligible
to retire and do not include separation on account of death or disability).
Rates of Separation from Active Employment
sample Years of
Ages Service Assumptions
ALL 0 37.0%
1 24.0%
2 15.0%
3 12.0%
4 100%
25 5 &Over 5.5%
30 5.0%
35 4.5%
40 3.9%
45 3.3%
50 2.4%
55 1.4%
50 1.0%
Changes from previous valuation:The mortality tables and improvement scales were updatedtoreflect
the updated mortality assumptions used in the July 1,2020 Florida Retirernent Systerrl (FRS)A
ct
ua
ri
al
Valuation.
clty of Atlantic Beach Police officers’Retirement Syst
em
B—2O‘G RS 10/1/202a Actuarial
Agenda Item #10.B.27 Sep 2021Page 120 of 223
IVI scellaneous and Techn'caI Assumptions
Administrative &Investment
Expenses
Benefit Se rvice
necrement ope ration
Decrernent Tirn i ng
Eligibility Testing
Forfeitu res
Incidence of Co ntributions
IVlarriage Assu rnption
Normal Forrn of Benefit
Pay increase Timing
Service Credit Accruals
Annual administrative expenses are assumed to be equal the
actual expenses paid during the preceding fiscal year.inve
stm
entexpensesareoffsetagainstgrossinvestmentincome.As
su
m
ed
admi istrative expenses are added to the Normal cost.
Exact fractional service is used to determine the amount ben
efitpayable.
Disabi ty and morta 'y decrements do not operate during thefirst
5 years of service Disability and separation do not operate dur
ingretirementelity.
Decrements of all types are assumed to occur mid—year.
Eligibility for benefits is determined based upon the age n
e
a
r
e
s
t
birthday and service nearest whole year on the date the
decrement is assumed to occur.
Vested members who terminate with a benefit worth less th
a
n100%of their own accumulated contributions were assume
d
to
forfeit their Vested benefit.
Employer contributions are assumed to be received in 12
monthly installments.Member contributions are assumed tobe
received continuously throughout the year based upon th
ecomputedpercentofpayrollshowninthisreport,and the act
ua
lpayrollpayableatthetimecontributionsaremade.
30%of members are assumed to be married for purposes o
rdeathn-service benefits.lvlale spouses are assumed to b
e
thre
eyearsolderthanfemaleparticipantsandfemalespouses
assumed to be three years younger than male participants for
active member valuation purposes.
The normal form of benefit is a life annuity with 10 year
Beginning of fiscal year.This is equivalent to assuming that
reported pays represent the actual amount paid during th
epreviousfiscalyear.
it is assumed that members accrue one year of service cre
dit
per
year.
‘G RS city of Atlantic Beach Police Officers‘Retirement system5-21
10/1/2020 Actuarial val
uat
io
n
Agenda Item #10.B.27 Sep 2021Page 121 of 223
Actua rial Accrued Liability
Accrued Service
Actuarial Assumptions
Actuarial Cost l\/lethod
Actua rlal Equivalent
I Present Value
Amortization
Experience Gain (Loss)
Norrrlal Cost
GLOSSARY OF TERIVIS
The difference between (i)the actuarial present value of futu
re
plan
benefits,and (ii)the actuarial present value of future normal cos
t.Sometimes referred to as ”accrued liability"or "past service li
a
bi
li
ty
."
The service credited under the plan which was rendered bef
ore
thedateof
the actuarial valuation.
Estimates of future plan experience with respect to rates of
disability,turnover,retirement,rate or rates of investment and
salary increases.Decrement assumptions (rates of mortality,dis
abi
lity
,
turnover and retirement)are generally based on past experienc
e,
often
modified for projected changes in conditions.Economic assu
mpti
ons
(salary increases and investment income)con ist of an underly
ing
ratein
an inflation-free environment plus a provision for a |ong—term aver
age
rate
of inflation.
A mathematical budgeting procedure For allocating the dollar arrl
oun
t
of
the "actuarial present value of future plan benefits"between theactuarial
present value OF future l'|Ol’l'TIaI cost and the actuarial accrued liab
ilit
y.
Sometimes referred to as the "actuarial funding rrlethod."
A single amount or series of amounts of equal value to another single
amount or series of amounts,computed on the basis of the of
interest and mortality tables used by the plan.
The amount of funds presently required to provide a payment orseriesof
payments in the future.It is determined by discounting the
payments at a predetermined rate of interest.taking into acc
oun
t
the
probability of payment.
Paying off an interestsbearing ilabiiity by means of periodic of
interest and principal,as opposed to paying it off with a lump su
mpayment.
A measure of the difference between actual experience and texpected
based upon a set of actuarial assumptions during the period two
actuarial valuation dates,in accordance with the actuarial cos
t
meth
odbeingused.
The annual cost assigned,under the actuarial funding method,tocurrent
and subsequent plan years.sometimes referred to as "current servic
ecost."Arly payment toward the unfunded actuarial accrued isnot
part of the normal cost.
City of Atlantic Beach Police Officers’Retirement Syste
m
B-22
10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 122 of 223
Reserve Account An account used to indicate that funds have been set aside aspecific
purpose and is not generally available for other uses.
Unfunded Actuarial The fference between the actuarial accrued Iiab ity and v
a
l
u
a
ti
o
n
assets.
Accrued Lia y Sometimes referred to as "unfu rlded accrued liabi
Valuation Assets The value of current plan assets recognized for valuation pur
po
ses
.
Genera?y based on market value plus a portion of unrealized app
reci
atio
n
or depreciation.
City of Atlantic Beach Police officers‘Retirement systemB—23
G R S 10/1/2020 Actuarial Va
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n
Agenda Item #10.B.27 Sep 2021Page 123 of 223
SECTION C
PENSION FUND INFORIVIATION
Agenda Item #10.B.27 Sep 2021Page 124 of 223
Cash and Securltles -lvlarket Value
Cash and Cash Equivalents S 423,428 $413,
865ShortTerrrlInvestments280,488 136,
449TreasuryandAgencyBonds&Notes 1,125,968 1,140,552
Corporate Bonds 1,256,494 1,126,
795COI'TIrl'10h 8:Preferred Stocks 5,277,956 4,230,292
Other Flxed Income 0 0
Mutual or Pooled Bond Funds 2,707,537 3,316,567
Mutual Funds 1,897,151 1.749.
202OtherSecuriies-Particl pant Directed 175,616 173,
030Total13,144,638 12,335,
Receivables and Accruals
Skate Contribution O O
l\/Iernber Cclntrlbutlon O 0
Employer contribution a 0
Interest and Dividends 12,048 12,
838Total12,048 12,
Payables
Benefits~DROP Reserve “O O
Lump sum Distributions o o
Other 3,500 0
Total 3.500 0
Net Assets -Market Value S 13,153,185 S 12,349,591
"'DROP balances are lncludedfor consistency with GASB statements 67 and 68.
City of Atlantic Beach Police Officers’Retirement Systemc—1‘G R S 10/1/2020 Actuarial val
uat
ion
Agenda Item #10.B.27 Sep 2021Page 125 of 223
PENSION _Fu'i\'iI_3inc-oM,EAi\ip_u1s,isU‘nsEiviEN'It',s=."‘
‘veer Ending V 7
viesr Endi
ng9/36/2020 15/39/
2019
l\/Iarket Value at Beginning of Period 5 12,349,591 S 12,164,
644
Beginning of Vear Adjustment (95,420)0
Income
lVlEn'1ber Contributions 161,166 142,
024StateContributions132,344 o
Employer Contribution 745,022 826,
705Interest,Dividends,and Other Income 545,949 362,
917RealizedandUnrealizedGain(Loss)103,159 75
,
03
7
Total income 1,589,140 1,406,
733
Disbursements
l\/lorlthly Benefit Payrnerlts 706,428 697,
940LumpsumDistributions0400,
904RefundofContributions9,443 44
,
93
3
Investment Related Expenses 42,831 39
,
24
6
Other Administrative Expenses 31,418 38,
76
3InsurancePremiumsO C
Total Disbursements 790,125 1,221,
786
Net Increase During Period 5 803,595 $184,
947
Market value at End of Period 5 13,153,186 $12,349,
591
City of Atlantic Beach Police officers‘Retirement Syst
em
02‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 126 of 223
DEFERRED RETIREIVIENT OPTION PLAN (DROP)
BENEFITS HELD IN RESERVE
A reconciliation of the accumulated DROP account balances is provided in the table below.
Value at beginning of year
Payments credited to accounts
Investment Earnings credited
Vvithdrawalsfrom accounts
Value at end of year 175,516
Clty of Atlantlc Beach Police officers’Retirement Systemc-3‘G R S 10/1/2020 Actuarial Va
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Agenda Item #10.B.27 Sep 2021Page 127 of 223
ACTUARIAL VALUE OF ASSETS
As of September 30,2020
valuation assets are calculated using a smoothed market value over a period of four (4)year
s,
as
prescribed under Internal Revenue Procedure ZUODJIO.The asset value deterrnined under tmethod
will be adjusted to be no greater than 120%and no less than 80%of the fair market value.
under this method,the actuarial value of assets is equal to the market value of assets less de
cr
ea
si
ng
fraction (1/nth per year,where n equals the number of years in the smoothing period)of th
e
gainorloss
for each or the preceding 3 years.
under this method,a gain or loss for a year is determined by calculating the difference betwe
en
the
expected market value of the assets at the valuation date and the actual market value of th
e
asse
ts
atthe
valuation date.The expected value of the assets for the year is the market value of the assetsatthe
valuation date for the prior year brought forward with interest at the valuation interest rate tothe
valuation date for the current year plus contributions minus disbursements e.,benefits p
ai
d
and
expenses),all adjusted with interest at the valuation rate to the valuation date for the current year.Ifthe
expected value is less than the market value,the difference is a gain.conversely,if the expe
cted
valueis
greater than the market value,the difference is a loss.
Calculation of Valuation Assets is shown on the following page.
city of Atlantic Beach Police officers’Retirement Syste
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DEVELOPMENT OF FUNDING VALUEOF ASSETS AS OF SEPTEMBER 30
Preliminary actuarial value from prior year
Market value beginning of year
Market value end of year
POP’?
Nuneinvestrnerit net cash ?ow
[contributionsibenefits &e><penses)]
E.Investment return
1.Actual market value return net of investment
expenses:C —B ~D
Z.Assumed Rate of Return
3.Assumed Amount of Return
4.Excess/(shortfall)to be phased»in:E1 -E3
F.Phased-in recognition of investment return
(4 Year Recognition]
1.Current year:25%of E4
2.25%of excess/(shortfall)from ?rst prior year
3.25%of excess/(shortfall)from second prior year
4.25%of excess/(shortfall)from third prior year
5.Total phased-in recognition ofinvestment return
G.Actuarial value end nfyear
1.Preliminary actuarial value and of year:
A +D +E3 +F5
2.Upper corridor |im':120%of C
3.Lower corridor lirn .80%of C
4.Actuarial value end of year
H.Difference between market value and actuarial value
I.Ratio of Funding Value to Market Value
GRS
2019 2020 2021 2022 2023
5 11,395,920 $12,533,670 5 13,532,560
12,164,644 12,349,591 13,153,186
12,349,591 13,153,136
(213,311)291,733
393,753 511,357
6.75%6.75%6.75%6.75%6.75%
313 397 343 444
(415,139)(331,537)
(103,735)(32,397)
26,384 (103,735)(32,397)
68,505 26,334 (103,785)(32,397)
51,050 68,506 26,335 (103,734)(32,896)
42,664 (91,292)(159,797)(186,681)(32,396)
12,533,670 13,582,560
14,319,509 15,733,323
9,879,673 10,522,549
12,533,670 13,532,550
(189,079)(429,374)
102%103%
City of Atlantic Beach Police Officers’Retirement System C-5
10/1/2020 Actuarial Valuation Agenda Item #10.B.27 Sep 2021Page 129 of 223
INVESTIVIENT RATE OF RETURN
The investment rate of return has been calculated on the following bases:
Basis 1 —lvlarket Value:Interest,dividends,realized gains (losses)and unrealized appreciation
(depreciation)d'vided by the beginning market value of the fund,adjusted for cas
h
flowduring
the year.This figure is normally called the Total Rate of Return.
Basis 2 -Actuarial Value:Investment earnings recognized in the Actuarial Value of Assets idedbythe
weighted average ofthe Actuarial value of Assets during the year.
Investment Rafe of Return
Year Ended lvlérket vaIue__Agtuarial value
,
9/30/03 9.5 %2.2 96
9/30/04 5.7 2.4
9/30/05 85 4.4
9/30/06 8.8 7.8
9/30/07 142 9.4
9/30/O8 (11.7)4.6
9/30/09 8.5 3.8
9/30/10 10.8 4.7
9/30/11 1.2 2.2
9/30/12 13.9 7.9
9/30/13 5.7 7.5
9/30/14 5.8 63
9/30/15 0.5 5.3
9/30/16 9.4 4.7
9/30/17 9.8 6.3
9/30/13 7.7 7.0
9/30/19 3.3 7.3
9/30/20 4.1 5.9
Avera ge compounded
Rate of Return for
5 veers 6.8 “/6 5.2 %
10 vears 5.1 %6.0 %
Cltv of Atlantic Beach Police officers‘Retirement Syste
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Agenda Item #10.B.27 Sep 2021Page 130 of 223
SECTION D
“A ISCELLANEOUS INFORIVIATION
Agenda Item #10.B.27 Sep 2021Page 131 of 223
RECONCILIATION or MEMBERSHIP DATA
From 10/01/19 From 10/
01/
18
To 10/01/20 To 10/
01/
19
A.Active ‘Members
1.Numberlncluded in Lastvaluation
2.New I\/lernbers Included in current Valuation
3.Non—vested Employment Terminations
4.vested Employment Terminations
5.Service Retirements
5.Disability Retirements
7.Deaths
8.DROP Retirement
9.vested Employment Terrr1inatiorls—Refunded
10.Nurnberlncluded in This valuation
NO‘!N&?ooooooguNAmoooooogw
B.Terminated Vested Members
1.Nurnberlncluded in Lastvaluation 3 4
2.Additions from Active Members 0 0
3.Lurnp Sum Payments/Withdrawals o
4.Payments Commenced o
5.Deaths 0 (1
)6.Other—Returned to Work 0
7.Numberlncluded in This Valuation 3 3
c.Service Retirees,Disability Retirees,Beneficiaries &DROF
1.Number Included in Last Valuation 23 22
2.Additions from Active Members 0 0
3.Addit ons entering the DROP o 0
4.Additions from Terminated Vested |\/Ierrlbers 0
5.Deaths Resulting in No Further Payments (1)
6.Deaths Resulting in New Survivor Benefits 0 1
7.End of certain Period -No Further Payments 0
8.other —-Lump sum Distributions 0 0
9.Nurnberlncluded in This valuation 22 23
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Agenda Item #10.B.27 Sep 2021Page 132 of 223
STATISTICAL DATA
Active Members as of October 1,2020
,7
1s—19 20424 25-29 30 &up
NO.
N0‘
NO‘
NO.
N0‘
No.
No.
55-59 No.
60-64 NO.
65&UP No.
TOT N0.
0 0 o
0 0
66.412
68.130
77.737
77.437
50,294
109,
788
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Agenda Item #10.B.27 Sep 2021Page 133 of 223
NUIVIBER ADDED TO AND REIVIOVED FROIVI ACTIVE IVIEIVIBERSHIP
Number
Added Terminations During vear Active
vear During Service Disability Died—in Withdrawal lvlern
hersEndedvearRetirementRetirementServiceVestedotherTotalEndof
september 30 A E A E A E A E A A A E Year
2003 3 5 o 0.1 1 0.1 ‘r0 0.0 2 3 5 1
.
3
22
2004 9 4 0 0.3 0 0.0 0 0.0 2 2 4 1
.
1
27
2005 3 4 2 0.5 0 0.0 0 0.0 1 1 2 1
.
9
25
2005 2 4 1 1.0 0 0.0 0 0.0 1 2 3 1
.
3
24
2007 4 3 1 0.2 0 0.0 0 0.0 0 2 2 1
.
5
25
2008 5 4 1 0.1 0 0.0 0 0.0 0 3 3 1
.
5
25
2009 5 4 1 0.1 0 0.0 0 0.0 0 3 3 1
.
5
27
2010 3 3 0 0.4 1*0.0 0 0.0 1*1 3 1
.
4
27
2011 3 4 2 1.0 0 0.0 0 0.0 0 2 2 2
.
5
25
20.12 2 2 1 1.0 0 0,1 0 0,0 0 1 1 2
.
5
25
2013 0 4 1 1.0 0 0.1 0 0.0 0 3 3 2
.
5
22
2014 2 3 0 0.4 0 0.1 0 0.0 3 0 3 2
.
2
21
2015 2 4 1 0.5 0 0.1 0 0.0 2 1 3 1
.
5
19
2015 5 1 0 0.5 0 0.0 0 0.0 0 1 1 1
.
5
23
2017 1 1 0 0.2 0 0.1 0 0.0 1 0 1 2
.
7
23
2013 5 4 0 o.s 0 0.0 0 0.0 0 4 4 2
.
1
24
2019 3 1 0 1.0 0 0.0 0 0.0 0 1 1 2
.
7
25
2020 1 3 0 0.9 0 0.0 o 0.0 0 3 3 2.
9
24
5—yr.Totals
20152020 15 10 0 3.4 0 0.1 0 0.0 10 11.
9Expected
for 2021 0.8 0.1 0.0 2.
0
A Represents actual number.
E Represen 1’:expected number.
'A/(ember retroactively appravedfor du ty disability benefits {previously reported as ves ted termin
ated)
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Agenda Item #10.B.27 Sep 2021Page 134 of 223
Retired Members and Beneficiary Data
Historical ScheduIe*"‘
Expe
ctedAddedRemovedNetIncreaseEndofVearRem
ovalsVearEndedNo.Annual No.Annual No.Annual No.Annual No.A
nn
ua
l
2003 2 30,148 2 30,148 11 235,310 0.1 2,072
2004 11 235,310 0.2 2,683
2005 2 106,731 2 105,731 13 342,041 0.2 2,933
2006 1 34,521 1 9,795 0 24,724 13 366,765 0.2 3,309
2007 1 43,455 1 43,455 14 410,220 0.2 3,922
2008 2 53,781 2 63,781 16 474,001 0.2 4,510
2009 16 474,001 0,2 5,200
2010 6,319 1 14,935 (1)(8,515)15 465.385 0.2 5,200
2011 2 84,469 0 2 84,469 17 549,854 0.2 5,200
2012 2 68,529 0 2 68.629 19 618.483 0.3 5,761
2013 1 48,017 0 1 48,017 20 665,500 0.2 4,950
2014 O O 0 O -20 665.500 0.2 5,547
2015 1 20,397 0 1 20,397 21 686,897 0.2 6,119
2016 O 0 0 0 —21 686,897 0.3 5,815
2017 1 9,468 0 1 9,468 22 695,365 0.3 9,139
2018 O O O 0 —22 696,355 0.4 9,846
2019 1 17,425 0 1 17,426 23 713,791 0.4 10,
38620200O144,172 (1)(44,172)22 659,619 0.4 11,
541
Expected for
2021 0.5 12,
524
‘One-time adjustment correcting past underpuymen ts
"*Includes member retroactively appravedfor duty dlsabili/ty
City of Atlantic Beach Police Officers’Retirement System
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Agenda Item #10.B.27 Sep 2021Page 135 of 223
SECTION E
SUIVINIARY or PLAN Pnovusnons
Agenda Item #10.B.27 Sep 2021Page 136 of 223
A.Ordinances:
Plan established under the Code of Ordinances for the City of Atlantic Beach,Florida,P
ar
t
II,Chapter
2,Article VI,Division 4 and was most recently arnended under Ordinance No.58~20-46,passedand
adopted on October 25,2020‘The Plan is also governed by certain provisions of Part Chapt
er
112,
Florida Statutes (F.S.),F.S.185 and the Internal Revenue Code.
B.Effective Date
ion 4 on July 10,2000December22,1975,Restated under Di
(2.Plan vear
october 1 through september 30
0.Type of Plan
Qualified,governmental defined benefit retirement plan;for GASB purposes It is a sole eplan.
5.El‘ibility Requirements
All full time sworn City police Officers,who normally work more than 1,000 hours annuall
y
andarenot
an elected officials,temporary or contractual employees,or executives or departments headswho
have elected not to participate,will become members on the date of employment.
F.Credited Se rvice
service is measured as the total number of years and fractional parts of years,but tothe
nearest one—twelfth (1/12)of a year.No service will be credited for any periods of for
which the member received El refund of their employee contributlons.
G.compensation
Base salary or wages paid for services rendered to the city including longevity pay,ov
ert
im
e
paynot
to exceed 300 hours,cost of living payments,holiday and personal leave taken and inc
ent
ive
pay.
compensation excludes payments of unused personal leave,uniform or equipment all
o
w
an
ce
s,
extra
duty or special detail pay on behalf of a second party employer,or any reimbursement expen
ses.
l-l.Final Average compensation (l=Ac)
Average monthly rate of compensa on during the highest so consecutive months of cr
ed
ite
d
service
out of the last 120 months preceding the date of termination or retirement.
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Agenda Item #10.B.27 Sep 2021Page 137 of 223
I.Norrnal Retirernent
Eli ilitvt For members hired prior to January 1 2013
A participant may retire on the first day of the month coincident with o
r
nex
t
following
the earlier of:
(1)25 years of Credited Service regardless of age.or
(2)age 50 with 20 years of credited service,or
(3)age 55 with 10 years of credited Service,or
(4)age so with 5 years of credited service.
For rrlernbers hired on or afterlarluag 1 2013
pant may retire on the first day of the rrlonth coincident with o
r
ne
xt
following
the earlier of:
(1)Age 55 with 10 years of credited service,or
(2)age -32 with 25 years of credited service.
Benefit:For rnernbers hired prior to January 1 2013
3.00%of FAC tirnes Credited Service.Benefit is Iirnited to 100%of FAC.
For members hired on or after January 1 2013
2.00%of FAC tirnes Credited Service.Bene?t is lirrlited to 100%of FAC.
Norrrlal Forrn
of Benefit:10 Years Certain and Life thereafter;other options are also available.
J.Early Retirernent
A member may elect to retire earlier than the Normal Retirement uponEligibility:
attainment of age so with 10 years of Credited Service.
The Normal Retirement Benefit is actuarially reduced by 3%for each year bywhichtheBenefit:
rnerriber‘s Early Retirement date precedes the member's normal retirement age.
Norrnal Forrrl
of Benefit:10 year Certain and life thereafter;other options are also available.
K.uelayed Retirement
Same as Normal Retirement taking into account compensation earned and service credite
d
untilthe
date of actual employment termination.
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Agenda Item #10.B.27 Sep 2021Page 138 of 223
L.Service Connected Disability
Eligibility:
Benefit:
Norrrlal Forrrl
of Benefit:
Any member who becomes totally and permanently disabled due to ser
vi
ce
related
injury or illness and ‘s deemed unable to render useful and efficient service tothecityas
a police officer is eli ble for a disability benefit.
The benefit is calculated as if the member was eligible for Normal Re
tire
me
nt
andis
payable retroacti ely to the later of;the last day on payroll,or the date ofappcation
for disability benefits.The minimum for a service connected disability IS42%of
FAC.
10 year certain and life thereafter.
IVL Non-Service Connected Disabllity
Eligibility:
Benefit:
Normal Form
of Benefit:
Any member with 3 1/3 or more years of credited service who become
s
totallyand
permanently disabled and is deemed unable to render useful and efficient servi
ce
tothe
city as a police officer is eligible for a disability benefit.
The benefit is calculated as if the member was eligible for Normal Ret
ire
me
nt
andis
payable retroactively to the later of;the last day on payroll,or the date ofapplicati
onfordisabilitybenefits.The minimum for a non-service connected disabi
lity
benefitis
25%of FAC if the member had at least 2 1/3 years of credited service.
10 year certain and life thereafter.
N.Pre -Retirernent Death
Eligibility:
Benefit:
Any member with 5 or more years of credited Service is eligible for a deat
h
benefi
t.
upon the death of a member,the designated benef'ciary shall be paid anactuariall
yreducedstandardten(10)year certain and I e survivor pension notwithst
anding
that
the member may not have satisfied the con ions for retirement.ther
e
areno
beneficiaries designated by the member,then a benefit shall be paid thesurviving
spouse or,if no surviving spouse,a reduced benefit will be paid to th
e
member's
unmarried children.
If spouse is receiving benefits described above,no children's benefits arepayable.
if spouse is not receiving benefits,children under age 19,or age 23 anunmarrie
dfulltirnestudent,will receive equal shares of 50%of the member's Norm
al
Retirem
entBenefitundertheLifeAnnuityoptionbaseduponServiceandFACaso
f
thedateof
death.
city of Atlantic Beach Police officers’Retirement syste
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Agenda Item #10.B.27 Sep 2021Page 139 of 223
Norrrlal Forrrl
of Benefit:Payable for the line of the members beneficiary or spouse.Children's benef
its
are
payable until age 19 or age 23 if an unmarried fulltirne student.
0.Post Retirernent Death
Benefit determined by the form of benefit elected upon retirernent.
P.optional Forms
in lieu of electing the Norrnal Forni of benefit,the optional forrrls of benefits available to allretireesare
a Life Annuity,or the 50%,66 2/3%,75%or 100%Joint and Survivor options.A Social Se
cu
rit
y
optionis
also available for members retiring prior to the tirne they are eligible for Social Securit
y
retiremen
tbenefits.
Q.vested Termination
For rnernbers hired prior to January 1 2013
A participant has earned a non—forfeitable right to Plan benefits after the co
m
pl
eti
on
or
5 or more years of credited Service.
For members hired on or after .lanuai11 2013
A participant has earned a non—forfeital:.lle right to Plan benefits aFter the C
o
m
pl
eti
on
of
10 or rnore years of Credited Service
Bene?t:The benefit is the rrIernber’s vested portion of the accrued Normal Retireme
nt
Benefitas
of the date of termination.Benefl begins on the Normal Retirervient date.
Normal FOrn'I
of Benefi :10 year Certain and life thereafter;other options are also available.
N|en'lber's terminating employment with less than 5 years of credited service will receive arefundof
their own accurrlulated Contributions.
R.Refunds
All non—vested members are eligible.Optionally,vested participants may al
so
withdraw
their contributions in lieu of the deferred benefits otherwise due.ve
ste
d
members
may delay withdrawal of funds for up to five years.
Benefit:The member who terminates employment receives a |urnp—surn pay
men
t
oftheir
employee contributions with interest.
city of Atlantic Beach Police Officers‘Retirerrlentsy
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Agenda Item #10.B.27 Sep 2021Page 140 of 223
S.Ivlernber Contributions
8.0%
T.Prerniurn Tax IV|Dnies
A distribution of casualty insurance prerrliurn tax monies collected by the State pursuant toChapter
185 Florida statutes.
U.Ernployer Contributions
The amount determined by the actuary to pay the rlorrnal cost and an amortization theunfunded
actuarial accrued tiab ties,along with employee contributions and Chapter 185 mon
ies.
Following
are assumed contributxon rates per recent valuations:
Contribution State
Year Beglnnlng Citv Sec 135 Member Total
10/1/2009 21.07%5.55%4.815%31.44%
10/1/2010 21.66%4.33%4.315%31.31%
10/1/2011 31.07%5.11%4.815%41.00%
10/1/2012 30.13%5.21%5.111%40.45%
10/1/2013 34.42%5.57%7.000%46.99%
10/1/2014 39.43%6.67%3.000%54.10%
10/1/2015 52.50%7.54%8.000%68.14%
10/1/2016 56.08%8.61%3.000%72.69%
10/1./2017 38.04%14.03%3.000%60.12%
10/1/2013 42.33%7.41%8.000%57.79%
10/1/2019 24.39%16.11%3.000%43.50%
10/1/2020 21.35%14.72%3.000%44.07%
10/1/2021 22.69%6.99%3.000%37.63%
v.Cost of Living Increases
The plan does not provide for automatic posbretirement cost of Ii rig adjustments (ofretiree
benefits.
VII.Changes frorn Previous Valuation
See the Discussion of Valuation Results Section of this report under the Revisions in Ben
efit
s
heading.
X.Ga|n—sharing benefits
Not applicable.
City of Atlantic Beach Police Officers’Retirement systemE-5‘G R S 10/1/2020 Actuarial Va
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Agenda Item #10.B.27 Sep 2021Page 141 of 223
Y.Deferred Retirernent Option Plan
lVlaXirI1un'1
DROP Period:
Interest
Credited:
Norrnal Forrn
of Benefit:
Upon obtaining Normal or Early Retirement el
All members must make a written election to part pate in the DROP.
The rrlernber’s credited service and FAC are frozen upon entry into the DR
OP.
The
monthly retirement benefit as described under Normal Retirement ls calcula
ted
based
upon the frozen Credited service and FAC.senerits for members entering Dam:upon
Early Retirement eligibility will be actuarially reduced as described for Early Re
tir
em
ent
.60 months
Participants’DROP account balances will be credited in accordance with t sel?
direc
ted
options selected by the participant who entered the program prior to July 1,2013.Forall
other participants,DROP account balances will be credited or debited q
u
ar
te
rl
y
with
interest based on Plan’:net investment earnings or losses for that quarter.
Lump sum or roll—oyer to a qualified retirement account.
City ofAt|antlc Beach Police officers’Retirement syste
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Agenda Item #10.B.27 Sep 2021Page 142 of 223
SECTION F
COIVIPARATIVE SUIVIIVIARY OF PRINCIPAL VALUATION
Agenda Item #10.B.27 Sep 2021Page 143 of 223
’‘‘'iu\1.lMAi=‘:”.=‘.i‘.’..'.‘§'=§’l-5%",
A.Participant nata
Number Included:
Actlves 24 24 25
Service Retlrees 52 Bene?ciaries 15 15 15
Dlsabllity netlrees 4 4 4
rermlnated vested Members 3 3 3
Total Members and Beneficiaries 45 49 52
Total Annual PaV|'oIl $1,553,532 $1,553,532 $1,
750
,
247
Expected Annual Payroll ln centrlbutlan veer 1,552,005 1,952,005 1,553,
454TotalAnnua'ed 5enerlts
se rvlce Retlrees &aenericlarles 595,450 595,450 535,532
Dlsabllllv Retirees 74,159 74,159 74,159
Termlneted vested Members 47,725 47,725 47,725
B Assets (Market Value)’
Cash and Short Term lnvestments 703,915 703,915 500,315
Treasurv and Agency Bands 5.Notes 1,125,955 1,125,955 1,140
,552ccrpcrateBonds1,255,494 1,255,494 1,125
,755Cornrnon5.Preferred Slacks 5,277,955 5,277,955 4,230
.32MutualFundBonds2,707,537 2,707,537 3,315
,557MutualFundStacks1,597,151 1,597,151 1,749
,202othersecurltles175,515 175,515 173,030
Net Receivables 5.Payalales 5,545 5,545 12,535
Total 13,153,155 13,153,155 12,349,551
Actuarlal value 13,552,550 13,552,550 12,
535
,
570
Assets include:
Accumulated active mernbe r contri bu tl ens L03o,020 1,030,020 901,550
(with lnterest If applicable)
c.Actuarial present value of accrued benefits
(1)vested accrued bene?ts "
Retired members and eenerlclarles 5,941,939 7,229,075 7,
530,
995Termlnatedmembers295,221 305,005 254,237
DROP Balances‘175,515 175,515 173,030
Excess Premlum Yax Llabillty‘0 0 0
Active members (lncludes rluncfnrfeltable
members Conlrlbutlons of 1,030,020 and 901,550)5,059,072 5,195,052 5,351
,510Tcltal13,504,545 13,904,754 13,
57
5,
07
3
Nun-vested accrued laenerlts 35,070 37,343 20,094
Total actuarial p.v.oi auzrued eenems 13,540,915 13,542,057 13,
55
5,
15
7
Actuarlal p.\/.at accrued benefits at eeesn,of year 13,555,157 13,595,157 13,
43
0,
24
5
Changes attributable to:
Arnendl-nenls none none none
Assumption change (401,175)none 0
opera on dv decrements 951,505 961,505 1,
405,
5955enenavrnents(715,575)(715,575)(1,
143
,
777
)
otneruvlethcd cnanee)0 0 0
(vi)Net change (155,249)245,930 255,521
(v||)Actuarlal p V or accr benerlts at end or year 13,540,515 13,942,057 13,
59
5,
15
7
:j—:
*DROP balances and Excess Premium Tax uablllry are included.
GRS City of Atlantic Beach Police Officers’Re emem;syste
m
F~1
10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 144 of 223
".“.<5°51.nF!"
1.Active Members
service Retirement Be nefits
vesting Benefits
Disability Benefits
Preretlrement Death Benefits
Return of lvlern her Contributions
Total Actives
2.inactive Nlembers
service Retirees 81 Beneficiaries
Dlsablllty Retirees
Terminated Vested Members
Total Inactive Members
3.DROP Balances
4.Excess Premium Tax Liability
5.Total Present Value forAII Members
Total Present value of:
Future sala es
Future Employee contributions
Future contributions from othersources
Total UAAL for Prior valuation Date
Employer Normal cost for this period
interest acccrued an (a)and (b)
Contributions for this period
Interest accrued on (d)
Accumulated Excess Premium Tax Reserve use
Changes due to:
Assumptions
Plan Amendment
cost lvlethod (Asset Method)
Actuarial (Gain)Loss
Total Current UAAL:a+b+¢»d-e—f+
l.iabilitles-Actuarial Present value of Future Benefits
$9,541,742 $9,736.173
599,212 $07,038
212,455 210,353
53.390 92,047
58,257 69,533
10,535,566 10.755,154
5,153,797 6,430,078
788.142 799,000
298,221 305,003
7,240,150 7.534.086
175,615 175.515
o 0
134301.342 18,474,856
12,379,155 12.355,407
990,332 953,433
3,423,450 903,873
$2,867,715 $2.867,716
268,045 255,045
211,654 21 1,654
s77,s55 877,866
29,523 29,628
o a
(442,542)0
o 0
o 0
(44,747)(44,747)
1,952,642 2,395,134
$5,537,570
537,121
205,184
37,024
83,031
9,549,530
7,020.577
310,413
234,237
3,115,as
173,030
0
17,938,193
12.573,192
1,014,255
4,335,268
S3,220,752
233,115
233.136
326,705
27,501
0
o
0
0
35,319
2,867,715
City of Atlantic Beach Police Officers‘Retirement syste
m
72
10/1/2020 Actuarial va
lu
at
io
n
Agenda Item #10.B.27 Sep 2021Page 145 of 223
9/30/2006
9/30/2007
9/30/2008
9/30/2009
9/3o/1010
9/30/§o11
9/30/2012
9/30/2013
9/30/2014
9/30/2015
9/30/2016
10/1/2017
10/1/2013
10/1/2019
10/1/2020
9/30/1993
9/30/1994
9/30/1995
9/30/1997
9/30/2001
9/30/2003
9/30/2007
9/30/2012
9/30/1995
9/30/1997
9/30/2009
9/30/2010
9/30/2014
9/30/2016
10/1/2017
10/1/2020
Experience Galn
Experience Less
Experience Less
Experience Less
Experience Gain
Experience Loss
Experience Loss
Experience Gain
Experience Gain
Experience Loss
Experience Loss
Experience Gain
Experience Gain
Experience Less
Experience Gain
Benefit changes
Benefit Changes
Benefit Changes
Benefit changes
Benefit changes
Benefit Changes
Benefit Changes
Benefit changes
Assurnption/Ivlethod
Assumption/l\/lethud
Assumption/Method
Assumption/Method
Assumption/lvlethod
Assumption/Nleth ad
Assumption/Method
Assumption/Nlethod
Change
change
Change
change
change
Change
change
change
1 (5,164)
2 6,109
3 17.907
4 20,193
5 (10,157)
6 29,919
7 2,252
3 (B,002)
9 (6,764)
10 10,952
11 26,593
12 (5,105)
13 (31,301)
14 3,070
15 (4,212)
3 33,693
4 (1,076)
6 3,312
7 324
11 7,071
13 11,091
17 (3,493)
22 (2,368)
5 29,176
7 21,476
19 2,611
20 38,808
24 69,454
26 (1,820)
27 25,693
30 t 28.695)
W:.
(411,559)
137,905
308,022
323,532
(154,731)
451,201
32,597
(115,061)
(95,416)
154,573
366,146
(106.034)
(330,935)
35,319
(44,747)
442,232
(12,597)
35,914
8,892
31,527
144,006
(49,157)
(40,750)
323,633
23 1,795
40,694
630,507
1,234,33 6
(32,567)
451,119
(442,542)
74,729
(45,806)
157,334
13,524
(53,570)
(49,710)
87.2.39
227,597
(73,888)
(301
,
932)
31,158
(44,747)
95.952
(3,982)
17.478
4,947
60,516
106,935
(40.187)
(31,586)
131,579
123,954
32,106
491,357
968,
417(26,371)
373,753
(442
,
542)
City of Atlantic Beach Police Officers’Retirement Syste
m10/1/2020 Actuarial
F-3
Agenda Item #10.B.27 Sep 2021Page 146 of 223
a.pension Cost
em.-y Age Normal Cost rm-:
service Ratlreruent aenems
veszing Eeneflls
Dlsablllry Bene?ts
Prerellremenl ueam eenerirs
Return of Member cenmbuuans
‘ratal Acnues
eaminisuaiiye Expenses
Expected Member Cunlrihullons
(Assuri-i|rig ernpibyee cuntrlb rate applicable re me nontrlb year)
Total emaieyer Normal Cost
Payment nequiree la Arnnruxe unrunded Actuar|aI
Accrued I.|ablI|IY
Terei canrribuiibn ax Valuation Dale
Terai Canrrlbutlon Adjusted vbr Frzquency uf
Payments and Interest to Nexl Fallciwlns Fiscal vear
as at zxaecrea Payroll
Amount sxpesiesi xb be Contributed by Members
7:or expeneu Payroll
Requurad canmbuuon neierminea In the vaiuaubn as bi
For me vear Ending:
by me Plan Spor\snr(Inc|uI:1Ing Exvected Premium Tax Revenues)
by me Plan §ponsor(ExcIudlng Expected Premium Tax Revenues)
Expected premium Yax Revenues
by Members
Aamai cemri buuen for me Flscal Year enued
by me Plan Sponsor
Prelnlurn Tax Revenues
by Members
Net exberienee (gain)loss eurins yea .
1.Plan re Arnnnlze uniunaeu A-:iuariai Accrued uabiiuy
Past Cantr|butIoris—For me Flscail vears Ended sepxember ace:mm and 2010:
zoyear fundlng of me Orlglnal Unfunded Aaruenai Accrued Llablllly,15 year funding of any
Gains er Losses and so year oi adlusurienls due In benerir or essumpuen changes.
2.schedule Illustrallna me Amortiraxlan or me uniunded Actuarial Aclzrued L|abIl\ty (LJAALJ
s29s.sa9 s299.2cis $277,997
52,355 53,497 513.269
13.599 13,329 15,911
3,597 4,991 4.677
20,537 2o,7si4 19.524
39:,292
31,415
143,255
395,317 as9.us9
31,419
1138,235
35,752
939,997
274,435 230,000 255,045
249.947 277,742 336,095
son.mo529,432 5577742
565.499
36.07%
579.2»;
29.599:
155.169
8.000%
5174 158
914529’.
148.277
3.00096
:56.:50
a.uoo9s
1,2017
Sente
mber
so.1019
October 1,2013
sepiernber so,2020
$563,090 $825,705
5402.402 5713.
002S265.Em $113,703
5131.954 5132.
334Septemberso,2020 sepxe
mber
90,2019
$745,022 $825,705
$132,944 so
$161,166 $Ja2.nz4
($44,747)595,319
51,952.54:
$1,318,572
1.sss,s9o
3,507,527
1,399,725
1,235.7-an
ss7,7sc
707,239
2:s,q72
o
o
9.Amen taken since last actuarial valuallon.
ca.-imbuuon sufllclenl lo sarisiy me ierai veqn?red contribution.
GRS City of Atlantic Beach Ponce officers‘Retirement Systerr
i
F-4
10/1/2020Actua ian
Agenda Item #10.B.27 Sep 2021Page 147 of 223
I.1.Three—YearCon1par‘lson ofActuaI and Assumed salary increases (Annualized)
.Yea‘rEn'1dec'!".Assueu
9/30/2018 (0.2)%6.7%
9/30/2019 7.4 %6.7%
9/30/2020 12.8 %6.1%
2.Th ree—Year Comparison of Investment Return (Actuarial value)
’vear Enijéd Actual '
Assumed
9/30/2018 7.0%6.75%
9/30/2019 73%6.75%
9/30/2020 5.9%5.75%
3.Average Annual Growth in Covered Payroll,Last Ten vears (if applicable)
__valuation Date
7
Tol.'a_|covered Payroll
9/30/2010 1,639,155
9/30/2011 1,605,814
9/30/2012 1,548,109
9/30/2013 1,360,245
9/30/2014 1,294,600
9/30/2015 1,246,622
9/30/2015 1,533,818
10/1/2017 1,575,914
10/1/2013 1,556,471
10/1/2019 1,760,247
10/1/2020 1,853,832
Total %increase LastTen vears 13.10 %
Annual %Increase 1.24 %
Thirty—year Forecast 3.50 94.
J.Benefits and Expenses of Plan not Explicitly or implicitly Provided in Valuation
NONE
K.Trends not taken into Account but which are ely to Result in Future Cost increases
NONE
city of Atlantic Beach Police officers’Retirement syste
m
F~5‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 148 of 223
CITY OF ATLANTIC BEACH GENERAL
EIVIPLOYEES’RET|RE|\/IENT SYSTEIVI
ANNUAL ACTUARIAL VALUATION AS OF OCTOBER 1,202
0
Agenda Item #10.B.27 Sep 2021Page 149 of 223
ANNUAL EIVIPLOYER CONTRIBUTION
IS DETERIVIINED BY THIS VALUATION
TO BE PAID IN THE EIVIPLOYER FISCAL YEAR ENDING
SEPTEIVIBER 30,2022
Agenda Item #10.B.27 Sep 2021Page 150 of 223
G R S P—954 S?7It’>l(x F:954 575.0082 i w
w
w,
gI
s¢
on
su
IIi
ng
.
ca
nI
June 11,2021
Board of Trustees
city of Atlantic Beach
General Employees‘Retirement system
Atlantic Beach,Florida
Re:city of Atlantic Beach General Employee's Retirement system
Actuarial valuation as of october 1,2029 and Actuarial Disclosures
Dear Board l\/lernbers:
The results of the october 1,2020 Annual Actuarial valuation of the city of Atlantic Beach Gener
al
Employ
ees’Retirement System are presented in this report.
This report was prepared at the request of the Board and is ’nterlded for use by the Retirement sy
st
e
m
and
those designated or approved by the Board.This report may be provided to parties other than t
h
e
system
only in its entirety and only with the permission of the Board.(ms is not responsible for unauthori
zed
useof
this report.
The purposes ofthe valuation are to measure the system's funding progress and to determine temploy
ercontributionrateforthefiscalyearendingseptember30,2022.This report should not be relied onforany
purpose other than the purposes described herein.Determina ns of financ I results associated withthe
benefits described In this report for purposes other than those identified above may be significant
ly
different.
The contribution rate in this report is determined using the actuarial assumptions and methods di
sc
lo
se
d
in
section B of this report.This report includes risk met s in sect n A but does not include a mo
re
robust
assessment of the risks of future experience not meeting the actuarial assumptions.Additional as
se
ss
m
en
t
of
risks was outside the scope of this assignment.
This valuation assumed the continuing ability of the plan sponsor to make the contributions nec
ess
ary
tofund
this plan.A determination regarding whether or not the plan sponsor is actually able to do so i
s
ou
tsi
de
our
scope of expertise and was not performed.
The findings in this report are based on data and other information through september 30,2020
.
The
valuation was based upon information furnished by the Plan Administrator concerning Retirement system
benefits,financial transactions,plan provisions and active members,terminated members,retir
ees
and
beneficiaries.we checked for internal reasonability and year»to—year consistency,but did not thedata.
we are not responsible for the accuracy or completeness of the information provided by the Pl
a
nAdministrator.
This report was prepared using certain assumptions approved by the Board as authorized under Flo
rid
astatutesandprescribedbytheFloridastatutesasdescribedinthesectionofthisreportentitledAct
uari
alAssumptionsandcostMethod.The investment return assumption was prescribed by the Board an
d
the
Agenda Item #10.B.27 Sep 2021Page 151 of 223
The Board of Trustees
June 11,2021
Page 2
assumed mortality rates detailed in the Actuarial Assumptions and cost Method section were by
the Florida statutes in accordance with Florida Statutes chapter 112.63.All actuarial assumptions usedinthis
report are reasonable for purposes cfthis valuation.
This report was prepared using our proprietary valuation model and related software which in profes
sionaljudgmenthasthecapabilitytoprovideresultsthatareconsistentwiththepurposesoftl-ie valuat
ion
andhas
no material limitations or known weaknesses.We performed tests to ensure that the model rea
son
abl
y
represents that which is intended to be modeled.
This report has been prepared by actuaries who have substantial experience valuing public empl
oyeeretirementsystems.To the best of our knowledge the Information contained this report is ac
cu
rat
e
and
fairly presents the actuarial position of the City of Atlantic Beach General Employees Retirement syst
em
asof
the valuation date.All calculations have been made in conformity with generally accepted actuar
ial
principle
sandpractices,with the Actuarial standards of practice issued by the Actuarial standards Board,a
n
d
with
applicable statutes.
Nicolas Lal-iaye and Dina Lerner are members of the American Academy oi’Actuaries.These actu
arie
s
meetthe
Academy's Quali?cation Standards to render the actuarial opinions contained herein.
The signing actuaries are independent of the plan sponsor.
This actuarial valuation and/or cost determination was prepared and completed by us or under o
u
r
direct
supervision,and we acknowledge responsibility for the results.To the best of our knowledge,t
h
e
resul
ts
are
complete and accurate.in our opinion,the techniques and assumptions used are reasonable,m
ee
t
the
requirements and intent of Part vii,chapter 112,Florida statutes,and are based on generally a
c
c
e
p
t
e
d
actuarial principles and prac ces.There is no benefit or expense to be pro ided by the plan and/
or
paidfrom
the plan's assets for which liabilities or current costs have not been established or otherwise tak
en
into
account in the valuation.All known events or trends which may require a material increase in p
l
a
n
costsor
required contribution rates have been taken into account in the valuation.
Gabriel,Roeder,smith 84.company will be pleased to review this valuation and Report with the of
Trustees and to answer any questions pertaining to the valuation.
Respectiully submitted,
GABRIEL,ROEDER,SMITH &COMPANV
,e /'_
By 7.‘);,.J.,2L¢..}—,oJLt..~3x 94.):/112'/{.e.»i:«_e.»c.,
Nicolas Lahaye,FSA,EA,MAAA,FCA Dina Lerner,ASA,EA,MAAA,FCA
consultant 81 Actuary consultant &Actuary
Agenda Item #10.B.27 Sep 2021Page 152 of 223
Statement by Enro ed Actuary
This actuarial valuation and/or cost determination was prepared and completed by me or un
de
r
mydirect
supervision,and I acknowledge responsib lity for the results.To the best of my knowledge,resultsare
complete and accurate.ln my opinion,the techniques and assumptions used are reasonable,mee
t
the
requirements and intent of Part VII,chapter 112,Florida statutes,and are based on generally acc
ept
edactuarialprinciplesandpractices.There is no benefit or expense to be provided by the plan paid
from the plan's assets for which Iiab Ies or current costs have not been established or otherw
ise
takeninto
account in the valuation.All known events or trends which may require a material increase plancostsor
required contribution rates have been taken into account in the valuations
Signature
June 11 2021
Date
20-07775
Enrollment Number
Agenda Item #10.B.27 Sep 2021Page 153 of 223
TABLE OF CONTENT
Section Title
A Executive Summary
1.Executive Summary
g the Accrued Lien:
ution
2.Risks Associated with Measu
Actuarially Determined Cont
3 Valuation Results
1.Part:ipant Data
2.Actua lally Determined contribution
Actua I Value of Benefits and Assets
Financial Sourldness
3
4
5.Actuarial Gains and Losses
6 Recent History of Valuation Results
7 Recent History of Required and Actual Contributions
Actuarial Assurnptions and Cost Method
9°
C Pension Fund Information
1.summary of Assets
2.Surnrnary of Fund's Income and Disbursements
3.Reconciliation of DROP Accounts
4.Actuarial Value of Assets
5.Investment Rate of Return
D lvliscellaneous Information
1.Reconciliation of lvlernbership Data
2.Statistical Data
E Summary of Plan Provisions
F Comparative Summary of Principal Valuation Results
Page
A-1
A-4
B-1
B-2
B-3
B-4
B-8
B-12
B-14
B-15
C-1
C-2
C-3
C-4
C-6
D—1
D-2
E-1
F-1
Agenda Item #10.B.27 Sep 2021Page 154 of 223
SECTION A
EXECUTIVE SUM IVIARY
Agenda Item #10.B.27 Sep 2021Page 155 of 223
EXECUTIVE SUIVI IVIARY
Closed Plan
In reviewing this Report,it is important to keep in mind that the system is closed to new entrant
s.
oneof
the consequences of this closure is that the annual payment on the unfunded accrued liability fortheCity
will continue to increase as a percentage of covered payroll as the number of active plan mem
bers
andsuch
payroll decreases from year to year.Therefore,the overall cost as a percentage of covered p
a
y
r
o
ll
willbe
increasing each year in the absence of signi?cant actuarial gains.
Required Employer Contributions
The following is a comparison of required contributions developed in this year's and the last
valuations:
Fur FYE 9/30/2022 For FYE 9/30/2021_Based on 10/1/2020 Based on 10/1/2019 Increa
seValuationvaluation(
Dec
reas
e)Gross contribution Requirement 5 1,185,394 $1,347,158 (151,764)
As %of Expected Payroll 83.17 %82.02 %1.15%
Expected Employee contribution 5 85,518 5 98,554 (13,035)
As %of covered Payroll 5.00 %$.00 %0.00%
Required Employer contribution
(If Made in Equal Monthly installments)$1,099,876 5 1,248,604 (143,728)
As %of cove red Payroll 77.17 %75.02 as 1.15%
Required Ernployer contribution
(If Made in whole at the Beginning of the veer)3 1,061,080 1,204,562 (143,482
)As %of Covered Payroll 74.45 %73.33 %1.12%
.:
Ivlinirnurn Required Contribution
As illustrated in the preceding chart,the city contribution necessary (0 support the current be
ne
fit
s
forthe
General Employees is $1,099,876 for the fiscal year ending september 30,2022.Please note the
Required Employer contribution for that fiscal year is developed assuming it would be deposited inmonthly
intervals throughout the year.For completeness,we are also presen g an amount required be
contributed if deposited in a single sum at the beginning of the contribution year in lieu of peri
odicinstallments.
city of Atlantic Beach General Employees’Retirement syst
em
A-1‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 156 of 223
Revisions in Benefits
ance No.5s—20—45,adopted on october 26,2020,amended the Plan by increasing the r
mum distribution age from 70':to 72 for participants reaching age 70y.on or a?erJanuary 1,2020.This
change was made to comply with Internal Revenue code requirements and did not have an impact
on the cost of the Plan for prefunding purposes.
Revisions in Actuarial Assumptions and lvlethods
In compliance with Florida Statutes chapter 112.63(1)(f)which mandates the use of the mortal
ity
tables
used in either of the two most recently published actuarial valuation reports of the Florida R
et
ir
e
system (FRS),the mortality tables and improvement scales were changed to reflect the update
d
mortalit
yassumptionsadoptedbyFRSaftera2019experiencestudyandusedintheJuly1,2019 and 1,2020ms
Actuarial Valuations.
The assumption Change described above decreased the total required Contribution by $62,299,or
4.37%of covered payroll.
Actua rial Experience
There was a net actuarial loss of $225,116 for the year which means that actual experience less
favorable than expected.The actuarial loss was primarily due to more retirements than expect
ed
(5actual
vs.3 assumed)and fewer deaths than expected.The net actuarial loss increased the total req
uir
edcontributionby$32,987,or 2.31%of covered payroll.
Funded Ratio
The funded ratio,one measure of the Plan’financial health,is equal to the actuarial value o
f
as
set
s
di
by the actuarial accrued (past service)lia ty.The funded ratio is 90.5%this year compared t5.53
%
last
year.The funded ratio would have been 89.2%prior to recognizing the assumption change.
Analysis of Change in Employer Contribution
The components of change in the actuarially required Contribution are as follows:
contribution last year 5 1,248,604
Payment on UAAL (88,563)
Experience (gain)/loss 32,587
Change in adm nistrative expense 2,086
Change in normal cost before expenses (32,939)
Revision in benefits 0
Revision In assumptions/methods (62,299)
contribution this year 5 1,099,375
City of Atlantic Beach General Employees‘Retirement systemA-2‘G R S 10/1/2020 Actuarlal val
ua
tio
n
Agenda Item #10.B.27 Sep 2021Page 157 of 223
Relationship to lvlarket Value
The actuarial value of assets exceeds the rnarket value of assets by $462,556 as of the valuation date(see
section c).This difference will be gradually recognized over the next three years causing the
contribution to increase,in the absence of offset g gains.lrthe market value of assets had used
the valuation instead of the actuarial value of assets,the city contribution would have been
$1,170,000 (assuming payment is made in equal monthly installments throughout the year)thefunded
ratio would have been 88.8%.The funded ratio based on the market value of assets was 85.0%lastyear.
Required Contributions in Future Years
In the absence of future assumption changes or experience gains/losses,the required city con
trib
utio
n
asa
dollar amount is expected to remain in the 51.0 to $1.2 million range over the next two years,th
en
decrease
to a range of $0.6 to 50.8 mi ion for the following few years.
Eventually,due to the Plan closure,the irlvestrrlerlt horizon ofthe Plan will becorne short enoug
h
andthe
cash demands large enough that the asset allocation will likely lean more towards fixed income andless
towards equities or other Volatile asset classes.This transition Will eventually require further r
e
in
the assurrled rate of investment return,and thus an increase in Costs and liabilities.
Conclusion
The remainder of this Report includes detailed actuarial valuation results,financial information,
miscellaneous information and statistics,and a summary of plan provisions.
City of Atlantic Beach General Employees’Retirement Syst
em
A—3‘G R 5 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 158 of 223
RISKS ASSOCIATED VVITH IVIEASURING THE ACCRUED L
I
A
B
I
L
I
T
Y
AND ACTUARIALLY DETERIVIINED CONTRIBUTION
The determination of the accrued liability and the actuarially determined contribution requires theuseof
assumptions regarding future economic and demographic experience.Risk measures,as illu
stra
ted
inthis
report,are intended to aid in the understanding of the effects of future experience differing f
r
the
assumptions used in the course of the actuarial valuation.Risk measures may also help with i
l
l
the
potential volatility in the accrued liability and the actua lly determined Contribution that re
su
lt
fromthe
differences between actual experience and the actuarial assumptions.
Future actuarial measurements may :1 er significantly from the current measurements presen
ted
inthis
report due to such factors as the follo g:plan experience diffe *g from that anticipated b
y
theeconomic
or demographic assumptions;changes in economic or demographic assumptions due to chang
ingconditions;increases or decreases expected as part of the natural operation of the methodology usedfor
these measurements (such as the end of an amortization period,or additional cost or contributi
onrequirementsbasedonthePlan's funded status);and changes in plan provisions or applicable law.The
scope of an actuarial valuation does not include an analysis ofthe potential range ofsuch fut
uremeasurements.
Examples of risk that may reasonably be anticipated to significantly affect the plan's future fi
n
a
n
c
i
a
l
cond on include:
1.Investment risk —actuaI investment returns may differ from the expected returns;
2.contribution risk —actual contributions may differ from expected future contributions.Forexample,
actual contributions may not be made in accordance with the plan's funding policy or mat
eria
lchangesmayoccurintheanticipatednumberofcoveredemployees,covered payroll,orother
relevant contribution base;
3.salary and Payroll risk—actual salaries and total payroll may differ from expected,res
ult
in
g
inactual
future accrued liab y and cont butions differing from expected;
4.Longevity ris|<—members may live longer or shorter than expected and receive pension
s
foraperiod
of time other than assumed;
5.other demographic risks ——members may terminate,retire or become disabled at tim
es
orwith
benefits other than assumed resulting in actual future accrued liability and contributions differin
gfromexpected.
The effects of certain trends in experience can geheraily be anticipated.For example,if the
return since the most recent actuarial valuation is less (or more)than the assumed rate,the oftheplan
can be expected to increase (or decrease).Likewise,if longevity is improving (or worsening),i
n
c
r
e
a
s
e
s
(or
decreases)in cost can be anticipated.
The computed contribution shown on page A—1 may be considered as a minimum contribution thatcomplies
with the Board's funding policy.The timely receipt of the actuarially determined contributions iscriticalto
support the ?nancial health of the plan.users of this report should be aware that contributions madeatthe
actuarially determined rate do not necessarily guarantee benefit securi y.
city of Atlantic Beach General Employees’Retirement systemA—4‘G R S 10/1/2020 Actuarial va
lu
at
io
n
Agenda Item #10.B.27 Sep 2021Page 159 of 223
Plan lvlaturity Nleasures
Risks facing a pension plan evolve over time.A young plan with virtually no investments and p
a
y
i
n
g
few
benefits may experience little investment risk.An older plan with a large number of members inpaystatus
and a significant trust may be much more exposed to investment risk.Generally accepted pla
n
matu
ritymeasuresincludethefollowing;
2020 2019 2
0
1
8
Ratio of the market Value OF assets to total payroll 15.2 12.5
Ratio of actuarial accrued liability to payroll 17.2 14.7
Ratio of actives to retirees and beneficiaries 0.3 0.4
Ratio of net cash flow to market value of assets 0.4%0.3%-0.4
%Duration of the actuarial accrued liability 10.5 10.9
Ratio of lvlarket Value of Assets to Payroll
The relationship between assets and payroll is a useful indicator of the potential volatility of
For example,if the market value of assets is 2.0 times the payroll,a return on assets 5%differen
t
than
assumed would equal 10%of payroll.A higher (lower)or creasing (decreas 13)level of this
measure generally indicates a higher (lower)or increasing (decreasing)volat y in plan sponsor
contributions as a percentage of payroll.
Ratio of Actuarial Accrued Liability to Payroll
The relationship between actuarial accrued liability and payroll is a useful indicator of the pote
ntial
volatility
of contributions for a fully funded plan.A funding policy that targets a funded ratio of 100%ex
pe
cte
d
to
result in the ratio of assets to payroll and the ratio of liab ty to payroll converging over time.
The ratio of liability to payroll may also be used as a measure of sensitivity of the liability itself.Forexample,
if the actuarial accrued lia y is 2.5 times the payroll,a change in liability 2%other than assu
med
would
equal 5%of payroll.A higher (lower)or increasing (decreasing)level of this maturity measure ge
ne
ra
ll
y
indicates a higher (lower)or increasing (decreasing)volatility in liability (and also plan sponsor co
ntr
ib
uti
on
s)
as a percentage of payroll.
Ratio of Actives to Retirees and Beneficiaries
A young plan with many active members and few retirees will have a high ratio of active to ret
ire
es.
A
mature open plan may have close to the same number of actives to retirees resulting in a ratio nea
r
1.0.A
super—mature or closed plan may have significantly more retirees than actives resulting in a r
at
i
o
below1.0.
Ratio of Net Cash Flow to lvlarket Value of Assets
A po e net cash flow means contributions exceed benefits and expenses.A negative cash means
existing funds are being used to make payments.A certain amount of negative net cash flow i
s
gen
erall
y
City of Atlantic Beach General employees Retirement syste
m
A-5‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 160 of 223
expected to occur when benefits are prefunded through a quali?ed trust.Large negative net ca
sh
flowsasa
percent of assets may indicate a super—mature plan or a need for additional contributions.
Dura n of Actuarial Accrued Liab Icy
The duration of the actuarial accrued liability may be used to approximate the sensi ity to 1%changein
the assumed rate of return.For example,duration of 10 indicates that the liability would incr
eas
eapproximately10%if the assumed rate of return were lowered 1%.
Add ional Risk Assessment
Add onal risk assessrnent is out e the scope of the annual actuarial valuation.Add ional
may nclude scenario tests,sensitivity tests,stochastic modeling,stress tests,and E cornparison ofthe
present value of accrued bene?ts at low~rI5k discount rates with the actuarial accrued liability.
City of Atlantic Beach General Employees’Retirement SystemA—6‘G R S 10/1/2020 Actuarial val
ua
tio
n
Agenda Item #10.B.27 Sep 2021Page 161 of 223
SECTION B
VALUATION RESULTS
Agenda Item #10.B.27 Sep 2021Page 162 of 223
Number
Covered Annual Payroll (ncin—DRoP)
Average Annual Pay
Average Age
Average Past service
Average Age at l-llre
N umber
Annual Benefits
Average Annual Benefit
Average Age
Number
Annual Benefits
Average Annual Benefit
Average Age
Number
Annual Benefits
Average Annual Benefit
Average Age
23
1,425,306
51.370
54.3
20.7
33.6
V?‘/3
77
S 1,508,124
$19,586
69.8
3
5 46.861
S 15.620
57.7
$1,642,562
$58,663
54.
719.
435.
3
S 1,378,22
6S19,1
4
269.7
mmHP‘Somin9°|-||DU'|
City of Atlantic Beach General Employees’Retirement system
1o/1/2020 Actuarial Va
lu
ati
on
B—1
Agenda Item #10.B.27 Sep 2021Page 163 of 223
Valuation Date
ADC to Be Paid During
Fiscal veer Ending
Assumed DaI:e(5)of Employer Contribution
Annual Payment to Amortlze
Unfunded Actuarial Liab y
if Pald on the valuation Date
Errlnlover Normal cost
(including Administrative Expenses)
If Paid on the Valuation Date
ADC If Paid on the valuation
Date:D 4 E
ADC Adjusted for Frequency of
Payments and interest to Requlred Time
of contribution
Payroll Expected for Contribution vear
ADC as %of Covered Payroll in
Contribution vear:G +H
Actuarially Determined contribution
it Paid on the First Day of the Contribution vear
AcruARIAI.Lv Dsramvnlugn con‘ITRlBu11I:iN (Ann)
October 1,2o2u
After Assumption
Change
9/30/2022
Monthly
801,478
192,599
993,937
1,099,876
1,425,305
77.17
1,051,050
October 1,2020
sefa re Assumption
change
9/31)/2022
lvlonthlv
852.897
197.591
1.050.288
1,162,175
1,425,306
81.54
1.121.182
Octob
er
1,2019
9/
3
0/
2
0
2
1
Mon
thly
902.922
225,
474
1
,
1
2
8
,
3
9
6
1,243,504
1
,
642,552
75.52
1
,
2
0
4
,
5
5
2
City of Atlantic Beach General Employees’Retirement syste
m10/1/2020 Actuarial
B-2
Agenda Item #10.B.27 Sep 2021Page 164 of 223
,Ac*rLlA -Anna’2 fnisiv-tar’rs-A,-u=m’ssé1s
A.valuation Date October 1,2020 October 1,2020 Oct
ober
1,2019
After Assump tiari Before Assumption
change Change
B,Actuarial Present value of All Projected
Benefits for
1.Active lvlernbers
a.service Retirement Benefits $8,524,332 $8,738,881 $9,
522,
129b.vesting Benefits 221,245 231,921 261,622
c.Disability Benefits 120,833 115,786 131,347
d.Preretirement Death Benefits 165,047 226,876 246,917
e.Return of Member contributions 5,342 3,003 8,941
f.Total 9,137,799 9,322,467 10,
171,
4562.Inactive Members
a.service Retirees at Beneficiaries 15,087,473 16,304,718 14,
904,
520b.Disability Retirees 433,204 437,119 445,554
c.Terminated Vested Members 253,612 264,618 437,746
d.Total 16,774,289 17,006,455 15,
787,
8203,DROP Balances 171,937 171,937 19,065
4.Total forAll Members‘26,084,025 26,500,859 25,
978,
341C.Actuarial Accrued (Past service)
Liability (Entry Age Normal)‘24,471,452 24,859,951 24,
104,
940D.Actuarial Value of Accumulated Plan
Benefits per FASB No.35‘22,496,159 22,844,000 21,
947,
846
E.Plan Assets
1.Market val ue"‘21,719,136 21,719,136 20,
497,
9522.Actuarial Value‘22,181,692 22,151,692 20,
713,
463
F.unfunded Actuarial Accrued Liability
(C —E2)2,239,760 2,678,259 3,391,
477
G.Actuarial Present value of Projected
Covered Payroll 10,375,078 10,332,308 11,
535,
567H.Actuarial Present Value of Projected
Member Contributions 622,505 619,939 695,140
*Includes DROP balances for consistency with GASB statements 67 and 63.
City ofAl:|ar1tic Beach General Employees‘Retirement systemB—3
G R S 10/1/2020 Actuarial Val
uat
ion
Agenda Item #10.B.27 Sep 2021Page 165 of 223
FINANCIAL SOUNDNESS
The purpose of this portion of the Report is to provide certain rrleasures which indicate the fi
n
a
n
ci
al
soundness of the program.These measures relate to short term solvency and long term solve
ncy.
The various percentages listed in this section as of a single valuation date are not that significant.whatis
signi?cant,however,is the trend of the rates over a period of years.it is also important to ke
ep
inmindthat
each time benefits or assumptions are revised;actuarial liabilities are created or diminished.newly
created liab ies are financed systematically over a peri d of future years.All actuarially comp
uted
values
in this analysis are based on the actuarial assumptions ut ized in the respective years'actuarial valu
atio
ns.Short Term Solvency
The ultimate test of financial soundness is the program's ability to pay all promised bene?ts due.The
program's progress in accumulating assets to pay all promised benefits can be measured by c
o
the
market value of assets with:
1.The actuari I present value of projected benefits payable to those already receiving andto
vested terminations,and
2.The actuarial present value of accrued benefits payable to active participants.This a
m
ou
nt
isbased
on benefits earned to date without future credited service or salary increases.
The total of the two items should generally be Fully covered by assets.That portion ofthe total ofth
e
two
items Covered by assets should increase over time.Often assets continue to grow beyond the ac
tu
ari
al
present value of these two items.
General Employees '
10/1/2020 10/1/2019 10/1/2018
1.Accumulated Contributions
of Active Members 5 1,035,599 S 1,133,300 5 1,260,183
2.APV of Projected Benefits in
Pay status and for vested
Terminations’16,946,226 1 15,806,885 14,507,759
31 APV of Accrued Benefits for
Active Participants
(Employer Portion)4 s14 334 ’5 007 561 5 557 1
9
14.Total 22,495,159 21,947,846 21,335,133
5.I\/Iarket value of Assets‘21,719,135 20,497,952 19,714,297
5.Assets as %of Total 97 as 93 %%
1 DROP balances are Included.
1 Reflects changes in actudrlal assumptions.
city of Atlantic Beach General Employees‘Retirement syst
em
B—4‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 166 of 223
Rat’o of lvlarket Value of Assets to
Present Value of Accrued Benefits
$24.0 —»-\-2
0
0
$22.0
$20.0
$18.0
$15.0
$14.0
1
0
0
“M
$12.0
$10.0
$8.0
$5.0
$4.0
$2.0
50.0
2011 2012 2013 2014 2015 2015 2017 2013 2019 2020
Actuarial Valuation Date
j l\/lafket value of Assets j PV Accrued Benefits
lncreases in benefits will,of course,adversely affect the trend in the years when such increases arefirst
reflected in the actuarial values.Although different actuarial assumptions would be used in eventofa
termination of the program,I:test shows how much of the benefits accrued to date might b
e
covere
d
by
assets in the event of a plan freeze using the valuation assumptions.
city of Atlantic Beach General Employees’Retirement systemB-5‘G R S 10/1/2020 Actuarial val
uat
io
n
Agenda Item #10.B.27 Sep 2021Page 167 of 223
Long Term Solvency
over the longer term,the solvency ofarl ongoing plan can be measured by comparing the Act
uar
ial
valueof
Assets to an arnount known as the Actuarial Accrued Liability (AAL)under the Entry Age Actuari
al
Cost
Method.This item has often been called the "past service liability".its derivation differs from theshort
term solvency value derivation in several ways.The short term solvency liab ty number is b
as
e
d
onthe
bene?ts accrued to date by the participants while the long term solvency liability number is b
a
s
e
d
onthe
normal costs accrued to date by the employer.in addition,the short term solvency asset num
ber
isthe
rnarket value,while the long term asset number is the actuarial value of assets.As in the case oftheshort
term SOI\/erlcy values,the AAL is affected immediately by any revisions In benefits or assumptions.The
accumulation of assets to equal the AAL can be considered a long range funding goal.
Actuarial Value of Actuarial Accrued
Valuation Assets Liability 95 of AAL covered
Date (in Thousands)in Thousands)by Assets
9/30/00 5,229 6,462 81 %
9/30/01 *5,587 6,986 30
9/30/02 5,747 7,479 77
9/30/03 *5,951 8,185 73
9/30/04 6,273 9,005 70
9/30/05 *6,802 9,822 69
9/30/06 *7,609 10,505 72
9/30/07 8,594 11,668 74
9/30/03 *9,209 12,624 73
9/30/O9 9,841 13,682 72
9/30/10 *10,618 15,180 70
9/30/11 11,119 16,053 69
9/30/12 **12,465 16,599 75
9/30/13 13,816 17,282 80
9/30/14 *,***15,167 20,024 76
9/30/15 =***15,959 20,942 76
9/30/16 *,***16,724 22,322 75
10/1/17 *,***17,752 23,141 77
10/1/13 Ms.19,035 23,572 91
10/1/19 an X0313 24,105 86
10/1/20 *,***22,182 24,471 91
*Reflects change in bene?ts,actuarial assumptions and/or asset method.
W Reflects the Actuarial /mpac!sta ternentfar Ordinance 58—13~3 7.
-in DROP balances are included in Actuarlal Accrued Liability and in Plan Assets.
‘GRS city of Atlantic Beach General Employees’Retlrerrient syst
em10/1/2020 Actuarlal
B-6
Agenda Item #10.B.27 Sep 2021Page 168 of 223
Ratio of Actuarial Value of Assets
to Actuarial Accrued Liability
City of Atlantic Beach General Employees’Retirement syste
m10/1/2020 Actuarial V
al
u
at
io
n
$3o.o 200%
525.0
150%
$20.0
515.0 100%
$10.13
5096.
$5.0
$0.0 0%
§Q\‘é"锧‘Qd°6\@’@>»9'\'>"§“>{9'\‘?"$'$"Q'$"€”I9'\9*\9'\'9'\9*'\.°'\§§0'\.'»°m°'\9m°'\3"\?'§"v°'\»°"»°'\9'\9'\5"\,°
Aetuarialvauuati-an:-ate
Actuar Assets ccruedua uty Ratio
B—7
Agenda Item #10.B.27 Sep 2021Page 169 of 223
ACTUARIAL GAINS AND LOSSES
The assumptions used to anticipate mortality,employment turnover,investment income,exp
ens
es,
salary
increases,and other factors have been based on long range trends and expectations.Actual can
vary from these expectations.The variance is measured by the gain and loss for the period i
n
v
o
l
v
e
d
.
If
signi?cant long term experience reveals consistent deviation from what has been expected a
n
d
that
deviation is expected to continue,the assumptions should be modi?ed.The net actuarial gain (
los
s)
forthe
past year is computed as follows:
Derivation of Experience Galri(pass)
10.
Last Year's UAAL
Last Year's Employer Normal Cost
Last Year's Actual City contibution
Interest at the assumed rate on:
a.1 for one year
I).2 for one year
c.3 from dates paid
d.a+b—c
This Year's Expected UAAL
1 +2 -3 +4d
This Year's Actual UAAL (before any
changes in benefits or assumptions)
Net Actuarial Gain (Loss):(5)—(5)
Gain (Loss)due to investments
Gain (Loss)due to other sources
Amortization Payment Due to (Gain)Loss
$3.391,477
225,474
1,352,952
228,925
15,219
46.000
193)144
2,452,143
2,678,259
(226,116)
(178)
(225,933)
29,211
city of Atlantic lseach General Employees‘Retirement syste
m10/1/2020 Actuarial
B—8
Agenda Item #10.B.27 Sep 2021Page 170 of 223
Net actuarial Gain (Loss)in previous years have been as follows:
'
_
7 ('15-;_Elsi"E51 >-(l
Yéararldédl ,"'i,?!|.as?r,',
,,
3/30/1354 (157,353)(157,353)
9130/1995 447,231 239,933
9/3a/1395 (152,553)127,270
3/aw 1957 252,235 379,503
3/so/1393 ss.5ao 438,043
9/3a/1935 155,195 545,243
s/3o/zooa (55,47o)435,773
3/3a/2oo1 (15,145)472,523
s/so/2002 (230,151)152,477
5/3o/2oo3 (355,353)(152,355)
5/30/2004 (355,105)(555,015)
sl/ac:/2005 (354,315)(522,320)
5/30/2006 131,255 (731,054)
3/so/2oo7 (170,333)(551,437)
3/so/2ooa (173,555)(1,140,233)
5/so/2009 (452,223)(1,522,515)
9/30/2010 (171,353)(1,733,573)
s/so/zon (354,553)(2,155,435)
3/3o/2512 402,532 (1,75s,asa)
9/30/2013 252;,ms (1,547,745)
5/30/2014 (13,1ocl)(1,555,345)
9/3o/2515 (373,312)(1,545,155)
9/30/2016 (521,355)(2,551,515)
9/30/2017 343,244 (2,215,272)
9/so/201:3 144,345 (2,o7a,325)
3/3o/2515 240,155 (1,333,757)
5/an/2:120 (225,115)(2,053,573)
Actuarial Gain (+)or Loss (-)
$3 4 $3
lV»1°.l
15152553535553%,o?sxot1°:1°;x°:,\%=-‘;x<>‘;x~3~;51~.a~:5m%~‘z:\~c.5
Plan Year End
Gain or Loss +cumuIat e
City of Atlantic Beach General Employees‘Retirement System59
10/1/2020 Actuarial val
ua
cl
on
Agenda Item #10.B.27 Sep 2021Page 171 of 223
The fund earnings and salary increase assumptions have considerable irnpact on the cost of tPlansoi5
important that they are in line with the actual experience.The following table shows the hist
ory
ofactuaal
fund earnings and salary increase rates compared to the assumed rates:
I investmeb.-1,:hetu rn {AV ')7.salary increases
AssumedYearEndingActu
H
9/30/1999
9/30/2000
9/30/2001
9/30/2002
9/30/2003
9/30/2004
9/30/2005
9/30/2006
9/30/2007
9/30/2003
9/30/2009
9/30/2010
9/30/2011
9/30/2012
9/30/2013
9/30/2014
9/30/2015
9/30/2016
9/30/2017
9/30/2013
9/30/2019
9/30/2020
x.wwOOOOOOOOOOOOOOOOOOxwill500-I0!mwO\|xWNWPPBWPNHHWWHmwwwmmwmw95»???licowxnbamlosnmP““93¢PWmwwwwwwwwwm~lm~imb0\lw0OHDNwOUlwwVMH\lO>‘>‘°°9°9°9Wl-wiaiuxzalalnlooo.°‘S7‘.“‘N499UWUHIIDmbhamwwmbhmnuwmumum!"P‘V‘°"?‘V'!"'5"E".9‘.°‘.“>l9'*“E“.°‘9°0B5.,5 UVU|_N_NOH»
%T4.Average
The actual investment return rates shown above are based on the actuarial value of assets.actual
salary increase rates shown above are the increases received by those active members who include
dintheactuarialvaluationsbothatthebeginningandtheendofeachyear.
city of Atlantic Beach General Employees‘Retirement Syst
em
B-10‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 172 of 223
History of Investment Return -Actua I Value of
Assets
15%15%
10%10%
5%::5%
0%.....x
'
0%
-5%
A
5%
Q Q ’\v ’\a '5 V ">%’\‘b 9 Q '8»’\a '5 DK 9)%’\9;‘E
°;\Q °;\°°;\°°;\°<a\Q°;\Q <>;\°'<>S\°9\°°>\°039<>;\"’0}»<>:\"'c5\”OX»=b\”°,»\\’c>;\”°.~\"'°:\"'®
\'\’Plan Year End
—-—ActuaI +Assumed
History of Salary Increases
15%15%
10%—
310%
5%—
>
5%
0%0%
—5%
"
—.-5
%%§’\'L '5 V ‘<2 ‘O ’\%Q Q '\’\»'5 V %‘O ’\‘b 9
°;\°’%\°°:\§9\Q 03$°;\Q'9‘?°>\°%\°<a\°°.v\§<a\"<a\"'ox‘OX‘0)“%\~°;\"'°;\\’OX»OX»°)
\"’Plan Year End Cornpared to PreviousYear
—-—Actual —wAssume-d
City of Atlantic Beach General Employees’Retirement Systema—11‘G R S 10/1/2020 Actuarial val
uat
io
n
Agenda Item #10.B.27 Sep 2021Page 173 of 223
RECENTH|S'[0RV OF VALLMTIONRESULTS
Numberaf Reported Annual Actuarial Value of Employer Normal Cast
Valuation Active Inactive Payroll Assets UAAL Amount
Date Members Members (in Thousands)(inThousands)(in Thousands)(in Thousands)%of Payroll
9/30/99 7D 33 S 2,185 S 4,650 5 1,146 $199 9.10 %
9/30/00 71 37 2,330 5,229 1,233 213 9.14
9/30/D1
‘75 40 2,462 5,587 1,399 226 9.17
9/30/02 83 40 2,768 5,747 1,732 257 9.66
9/30/03'84 41 2,856 5,951 2,235 284 9.93
9/30/04 86 42 3,051 6,273 2,732 300 9.32
9/30/05'82 45 3,182 6,802 3,020 235 7.37
9/30/06'81 48 3,195 7,609 2,896 233 7.28
9/30/07 82 51 3,476 8,594 3,074 B2 7.26
9/30/08-83 52 3,727 9,209 3,415 269 7.22
9/30/D9 87 50 4,019 9,B41 3,841 314 7.82
9/30/10'84 51 3,838 10,E18 4,562 364 9.45
9/30/11 83 58 3,738 11,119 4,934 367 9.82
9/30/12 "63 53 3,072 12,465 4,134 274 3.90
9/30/13 56 67 2,733 13,816 3,466 B1 9.17
9/30/14-48 71 2,398 15,167 4,856 282 11.76
9/30/15 43 77 2,075 15,959 4,983 259 1250
9/30/16'39 78 2,070 16,724 5,598 252 12.17
10/1/17'37 79 2,037 17,752 5,389 287 14.07
10/1/18 34 81 1,897 19,035 4,537 244 12.38
10/1/19 28 82 1,643 20,713 3,391 225 13.73
10/1/20
.
23 86 1,425 22,182 2,290 193 13.51
‘Reflectsa change in assumptions or bene?ts.
**Re/lerrtsthe Actuarial impart StatementforOrdinance 58-13-37.
City of Atlantic Eeach General Emplayees’Retirement System B-12G10/1/2020Actuarial Valuation Agenda Item #10.B.27 Sep 2021Page 174 of 223
Recent History of Number of l\/lernbers
15 0
12 5
10 0
75
so
25
0
.s»\°"Z=a%%®Z»€»%»®‘2=f?£~>§;>PZ<»€«»\fs»%
>»\‘2=»\‘Z=»\”Zc»\”Actuarial Valuation Date
‘;g\~*;«»\~2«~:%\~°
I Active lvlernbers —Inactive |\/lernbers
Recent History of Covered Annual Payroll
$5.0
54.0
$3 .0
32.0
Millions
$1.0
$0.0
\<9\°”\"’°"’°“\°"\°‘,§\°"6>,\‘°"’\5"\*°\'*“’*o°:"%>:9°:e»°e.°>\é’>\:9 «£2 .9
'5 N?‘<7‘N33\”«~,°\
£:9~“”°-:
9\Ӥ
6».3»é>>\§>>\”e»\¢>>cs»9
Actuarial Valuation Date
City of Atlantic Beach General Employees’Retirement systemB—13‘G R 5 10/1/2020 Actuarial Va
lu
ati
on
Agenda Item #10.B.27 Sep 2021Page 175 of 223
Ri‘s¢;':~-r HISTORY or REQUIRED AND ACTUAL cdi\mm§i._n-ions
End of Year To Required Employer Contributions
valuation whiciq Actual Emp
ioyerValuationContributions
Appnes %of Expected
Amount H Payroll
9/30/03 ‘9/30/05 5 454,393 15.02 %$454,393
9/30/04 9/30/05 430,029 15.09 430,029
9/30/05 ‘9/30/07 482,364 13.99 432,353
9/30/05 ’9/30/03 455,955 13.52 457,005
9/30/07 9/30/09 523,423 14.03 528,426
9/30/03 '9/30/10 599,292 14.34 599,292
9/30/09 9/30/11 722,759 15.50 722,759
9/30/10 '9/30/12 993,515 24.53 993,515
9/30/11 9/30/13 1,044,392 25.34 1,044,392
9/30/12 "9/30/14 950,930 29.19 950,930
9/30/13 9/30/15 353,513 31.59 353,513
9/30/14 ‘9/30/15 1,112,344 45.39 1,112,344
9/30/15 9/30/17 1,175,572 55.55 1,175,572
9/30/15 '9/30/13 1,332,113 54.35 1,332,119
10/1/17 '9/30/19 1,424,479 59.92 1,424,479
10/1/13 9/30/20 1,355,973 71.49 1,352,952
10/1/19 9/30/21 1,243,504 75.02 ---
10/1/20 ‘9/30/22 1,099,375 77.17 ———
*Re-?ects a change in assumptions or benefits.
"‘*Re_fIects the Actuarial Impact Staterrien tfor ordinance 5843»:7.
City of Atlantic Beach General Employees‘Retirement Syst
em10/1/2020 Actuarial
B-14
Agenda Item #10.B.27 Sep 2021Page 176 of 223
ACTUARIAL ASSUIVIPTIONS AND COST IVIETHOD
Valuation Nlethods
Actuarial cost Method -The actuarial cost method is a procedure for allocating the actuarial prese
ntvalueofbenefitsandexpensestotimeperiods.Normal cost and the allocation of benefit between
service rendered before and after the valuation date were determined using the Entrv—Age A
ct
ua
ria
l
Cost
Method.The entry—age actuarial cost method allocates the actuarial present value of each m
e
m
be
r's
projected benefits on a level basis over the member's pensionable compensation between t
h
e
entryage
of the member and the estimated active status exit ages.The portion of the actuarial present value
allocated to the valuation year is called the normal cost.The portion of the actuarial present valuenot
provided for by the actuarial present value of future normal costs is called the actuarial acc
rue
d
liability.
Ded cting accrued assets from the actuarial accrued liability determines the unfunded actu
arial
accrued
liabi y.
I Accrued LiaFinancingofUnfundedActual‘
financed as a level dollar.
ies —The unfunded actuarial accrued liabili
ty
was
Actuarial value of Assets -The Actuarial Value of Assets phases in the difference between texpecte
dandactualreturnonmarketvalueofassetsattherateof25%per year.The Actuarial value ofAssetswill
be further adjusted to the extent necessary to fall within the corridor whose lower limit is ofthe
lvlarket value of plan assets and whose upper limit is 120%or the lvlarket value of plan asset
s.
During
periods when investment performance exceeds the assumed rate,Actuarial value or Assets wil
l
tendto
be less than l\/larket value.During periods when investment performance is less than assum
ed
rate,
Actuarial value of Assets w I tend to be greater than Market value.
Valuation Assumptions
The actuarial assumptions used in the valuation are shown in this section.with the exception ofthe
mortality assumption,which is prescribed by Florida statutes,all assumptions listed herein w
er
eestablishedfollowingtheAssumptionstudyandExperienceReviewfortheSevenYearsEn
de
d
Septem
ber30,2016,dated August 9,2017.
Economic Assumptions
The investment return rate assumed in the valuations is 6.75%per year,compounded annu
ally
(netof
investment expenses).
The price inflation rate assumed in this valuation was 2.50%per year
The plan does not provide for automatic post—retirernent cost ofl ving adjustments (cc>l.A)ofretiree
benefits,Ad-hoc COLA increases have been adopted in the past upon approval by the City.l\/
lostrecently,such increases have been granted in 1987,1996 and 2001.No assumptions are regarding
future adjustments.Any such increases will be recognized as they occur.
city of Atlantic Beach General Employees‘Retirement System3.15‘G R S 10/1/2020 Actuarial val
uat
ion
Agenda Item #10.B.27 Sep 2021Page 177 of 223
The total rate of return is defined as earnings resulting from interest,dividends,realized ga
in
s
(losses
)and unrealized appreciation (depreciation)less investment-related expenses,all divided by t
h
e
beginnin
gmarketvalueoftheFund,adjusted for cash flow during the year.The total rate of return is a
s
s
u
tobe
5.75%per year,net of investrnenbrelated expenses.
The rates of salary increases used in the valuation are illustrated in the following table (rates belo
winclude2.5%price inflation).
Annual Rates for salary increase for sample Ages
Age:zo so 40 50 so
Expected Increase 9.5%7.9%5.7%5.3%4.3%
Demographic Assumptions
The mortality tables used in this valuation are based on the PUBAZOIU Headcount VVeighted I\/
lort
allt
y
Tables described below,with mortality improvements projected to all future years after 201
0
usingscale
IVIP-2018.
Pre e ernent PLIB—201O Table Pos Ret rernent PUB-2010 Table
Female Headcount Weighted General Below Headcount Vveighted G
en
er
al
Below
l\/ledian Errlployee Female Table l\/Iedian Healthy Retiree F
er
n
al
e
Table
lVla|e Headcount Vveighted General Below Headcourlt Weighted G
en
er
al
Below
l\/ledian Employee |\/Iale Table,Set back 1 l\/ledian Healthy Retiree |\/
lal
e,
Set
year back 1 year
These are the same rates as used by the Florida Retirement System (PR5)in their July 1,2020 Act
uari
al
Valuation Report for Regular (other than K—12 School Instructional Personnel)class members.Flori
daStatutesChapter112.63(1)(f)rnandates the use CIF the mortality tables from either of the tw
o
most
recently published actuarial valuation reports of FRS.
y rates and life expectancies at illustrative ages.
es of each benefit payment being ma
de
after
The following tables present postsretirement morta
These assumptions are used to measure the probab
retirement.
Health Post—Retire rnent Mortality
sample Probability of Future Life
Attained Dying Next vear Expectancy (years)
Ages (in 2020)Men \IVon1en lvlen women
so 0.19 96 0.58 %33.04 36.86
55 0.97 0.58 23.57 32.42
so 1.15 o,s0 24.59 27.89
55 1.29 0.59 20.55 23.32
70 1.50 1.10 15.55 18.85
75 2.88 1.9a 12.85 14.55
30 4.37 3.44 9.58 10.92
city of Atlantic Beach General Employees’Retirement Syst
em
B—16‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 178 of 223
The following tables present pre—retiren1ent mortality rates and life expectancies at illustrative ages.
These assumptions are used to measure the probabilities of active members dying prior to re
ti
re
m
e
nt
.
Healthy Pre—Retirernent l\/In rta Iity
sample Probability of Future Life
Attained Dying Next Vear Expectancy (veers)
Ages (in 2020)Men women Men women
50 0.19 96 0.11 %37.54 40.19
55 0.30 0.17 32.53 35.05
50 0.45 0.25 27.78 30.04
55 0.55 0.37 23.10 25.13
70 0.90 0.57 18.56 20.31
75 1.35 0.94 14.13 15.52
so 2.15 1.59 9.83 11.12
For disabled retirees,the mortality table is the PUB—201O l-ieadcourit Weighted General Dis
abl
ed
Retiree
Table with ages set forward 3 years for males and females,with no provision being made f
o
r
futur
emortalityimprovements.These are the same rates in use for Regular class rnerribers of the F
R
S
intheJuly
1,2020 FRS Actuarial valuation.
Disabled Mortality
Sample Probability of Future Ufe
Attained Dying Next Year Expectancy (years)
Ages (in 2020)Men women Ivlen Women
50 2.02 %1.54 %20.99 23.92
55 2.53 1.91 18.18 20.88
60 3.08 2.27 15.50 17.88
55 3.93 2.83 12.94 14.91
70 5.08 3.79 10.53 12.07
75 5.93 5.45 8.29 9.45
30 10.12 8.31 5.33 7.19
city of Atlantic Beach General Ernployees’Retirement syste
m
B—17
10/1/2020 Actuarial v
al
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Agenda Item #10.B.27 Sep 2021Page 179 of 223
Rates of disability among active members (0%of disabilities are assumed to be sen/il:e—
connected).
Percent Becorning Disahled
\l\IIth|n Next Vear
Sample
Ages lvlen Women
2o 0.07%o.o7%
25 0.09%0.09%
30 0.1096 0.10%
35 0.14%0.14%
40 o.21%0.21%
45 0.32%0.32%
50 0.52%0.52%
55 0.92%0.92%
60 1.53%1.53%
The rates of retirement used to measure the probability or eligible members retiring under n
o
r
and
early retirement eligibility during the next year were as shown below.
Normal or Early Retirement/DROP
Retirement Percent of E
Ages Employees Reti
55 5%
55 5%
S7 5%
58 10%
59 10%
50 30%
S 1 20%
62 15%
63 15%
64 15%
65 30%
66 40%
67 50%
68 50%
69 50%
70 100%
city er Atlantic Beach General Employees’Retirement syste
m
B—18‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 180 of 223
Rates of separation from active membership are as shown below (rates do not apply to m
e
m
b
er
s
eligible‘
to retire and do not include separation on account of death or disability).This assumption i
s
usedtoyield
the probabilities of members remaining in employment.
Rates of Separation from Active Employment V
Sample Vears of
Ages service Assurrlptions
ALL 0 28.61%
1 20.78%
2 16.94%
3 11.67%
4 7.41%
Under 45 5 &Over 3.50%
45 »49 3.00%
so and up 2.00%
Changes from previous valuation:The mortality tables and improvement scales were updat
ed
toreflect
the updated mortality assumptions used in the July 1,2020 Florida Retirement System (FRS
)
Act
uari
alvaluation.
city of Atlantic Beach General Employees’Retirement systemB—19
10/1/2020 Actuarial Va
lu
ati
on
Agenda Item #10.B.27 Sep 2021Page 181 of 223
lvliscellaneous and Technical Assumptions
Administrative 8:investment
Expenses
Benefit Service
Decrernent operation
Decrernent Tin?irlg
Eligih ty Testing
Farfeitu res
Incidence of Contributions
Nlarriage Assu rn ption
Normal Forrn of Benefit
Pay increase Timing
Service Credit Accruais
Annual administrative expenses are assumed to be equal the
actual expenses paid during the preceding fiscal year.inve
stm
ent
expenses are offset against gross investment income.As
su
m
ed
administrative expenses are added to the Normal cost.
Exact fractional service is used to determine the amount ben
efitpayable.
Disability and mortarty decrements do not operate during th
e
first
5 years of service.Disability and separation do not operate dur
ingretirementeligibility.
oecrernents ofall types are assumed to occur at mid—year.
Eligibility for benefits is determined based upon the age n
e
ar
e
st
thday and service nearest whole year on the date the
decrement is assumed to occur.
Vested rrierribers who terrninate with a benefit worthless t
h
a
n
100%of their own accumulated contributions were assumed to
forfeit their vested benefit.
Employer contributions are assumed to be received in 12
monthly installments.Member contributions are assumed tobe
received continuously throughout the year based upon the
computed percent of payroll shown in this report,and the a
c
t
u
a
l
payroll payable at the time contributions are made.
sow.of members are assumed to be married for purposes
death—in~service beneri s.lviaie spouses are assumed to be th
re
e
years older than female participants and female spouses
assumed to be three years younger than male participants f
o
r
active member valuation purposes.
The normal form of benefit is a life annuity.
Beginning of fiscal year.This is equivalent to assuming that
reported pays represent the actual amount paid during the
previous fiscal year.
it is assumed that members accrue one year of service credi
t
per
yeah
‘GRS City of Atlantic Beach General Employees‘Retirement Syste
m
320
10/1/2020 Actuarial ation
Agenda Item #10.B.27 Sep 2021Page 182 of 223
Actuarial Accrued Liablllty
Accrued Service
Actuarial Assumptions
Actuarial Cost lvlethod
Actuarial Equivalent
Actuarial Present Value
Arnortization
Experience Gain (Loss)
No rrnal Cost
GLOSSARY OF TERIVIS
The difference between (i)the actuarial present value of fut
ur
e
plan
benefits,and (ii)the actuarial present value of future normal cost.
Sometimes referred to as "accrued liability”or ”past service Iia
The Service Credited under the plan which was rendered bef
ore
thedateof
the actuarial valuation.
Estimates of future plan experience with respect to rates of m
or
ta
lit
y,
disability,turnover,retirement,rate or rates ofinvestment n
c
or
n
e
and
salary increases.Decrement assurnptiorls (rates of mortality,disa
bilit
y,turnover and retirement)are generally based on past expe e
n
c
e.
often
modified for projected changes in conditions.Economic ass
um
pti
ons
(salary increases and investment income)consist ofan underl
ying
ratein
an irlflatiorlvfree environment plus a provision for a Iongsterrrl avera
ge
rate
of in?ation.
A mathematical budgeting procedure for allocating the dollar amou
nt
of
the "actuarial present value of future plan benefits"between theactuarial
present value of future normal cost and the actuarial accrued liabil
ity.Sorrletirnes referred to as the ’’actuarial funding rnethcld."
A single amount or series of amounts of equal value to anothe
r
single
amount or series or amounts,computed on the basis of the r
a
t
e
(
s
)
of
interest and mortality tables used by the plan.
The amount of funds presently required to provide a payment orseriesof
payments in the future.It is determined by discounting the f
u
t
u
r
e
payments at a predetermined rate of interest,taking into ac
co
un
t
the
probability of payment.
terest—bearing liability by means of periodic of
cipal,as opposed to paying it off with a lurn
p
sum
Paying off an
interest and :3
payment.
A measure of the difference between actual experience and th
at
expected
based upon a set of actuarial assumptions during the period b
et
w
ee
n
two
actuarial valuation dates,in accordance with the actuarial c
o
st
metho
dbeingused.
The annual cost assigned,under the actuarial funding method,tocurrent
and subsequent plan years.sometimes referred to as "current service
cost."Any payment toward the unfunded actuarial accrued li
a
bi
li
ty
isnot
part of the normal cost.
$55 city of Atlantic Beach General Employees’Retirement syste
m
B—21
10/1/2020 Actuarial v
al
u
at
io
n
Agenda Item #10.B.27 Sep 2021Page 183 of 223
Reserve Account An account used to indicate that funds have been set aside aspeci?c
purpose and is not generally available For other uses.
Unfunded Actuarial The difference between the actuarial accrued liability and va
lu
at
io
n
assets.
Accrued Liability Sometimes referred to as ”unfunded accrued liability."
Valuation Assets The value of current plan assets recognized for valuation pur
pos
es.Generally based on market value plus a ponion or unrea
or depreciation.
e
d
app
re
'ation
City of Atlantic Beach General Employees‘Retirement Syste
m
B-22GR510/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 184 of 223
SECTION C
PENSION FUND INFORIVIATION
Agenda Item #10.B.27 Sep 2021Page 185 of 223
suMMAmi oEAssETs
9/30/2020 9/30/2019
Cash and Securities »Market Value
cash and Cash Equivalents S 72,186 3 127,
085ShortTermInvestments453,373 331,052
Treasury and Agency Bonds &Notes 1,960,870 1,939,235
Corporate Bonds 2,171,515 1,971,682
common &Preferred Stocks 8,832,404 7,208,860
Pooled Equity Funds 0 o
l\/lutual or Pooled Bond Funds 4,533,553 5,505,035
Mutual Equity Funds 3,579,755 3,427,453
Other Securities -Participant Directed 0 0
Total 21,714,257 20,511,413
Receivables and Accruals
Member contribution o 0
Employer Contribution 0 0
Interest and Dividends 20,841 22,
882InterestDepositforLatecontribution0 cl
Total 20,341 22,
882
Payables
Lump Sum Distributions 0
Expenses o
Other 15,952
Total 15,962 135,343
Net Assets -Market Value 5 21,719,135 5 20,497,952
Note:for consistency with GASB statements 67 and 58 DROP balances are included in Plan A
s
s
et
s.
City of Atlantic Beach General Employees’Retirement syst
em‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 186 of 223
lvlarket Value at Beginning of Period 5 20,497,952 5
Beginning of vear Adjustment (5,640)0
income
l\/lernber contributions 95,921 107
,
745statecontribu00
Employer Contribution 1,362,952
Interest,Dividends,and Other Income 505,395 39
9,
53
1
Realized and Unrealized Gain (Loss)703,003 29
1,
52
7
Total Income 2,674,276
Disbursements
l\/lorlthly Benefit Payments 1,329,553
Lump Sum Distributions (frorn DROP)0 51,
129RefundofContributions00
Investment Related Expenses 75,430 71,
982OtherAdministrativeExpenses42,469 40,
534
Total Disbursements 1,447,452
Net Increase During Period S 1,221,194 5 75
3,
55
5lvlarketvalueatEndofPeriod$21,719,136 $2
0,
4
9
7,
9
5
2
Noterfar consistency with GASB Statements 57 and 68 DROP balances are Included In Plan As
set
s.
City of Atlantic Beach General Employees’Retirement syste
m
C-2‘G R S 10/1/2020 Actuarial v
al
u
at
lo
n
Agenda Item #10.B.27 Sep 2021Page 187 of 223
DEFERRED RETIREIVIENT OPTION PLAN (DROP)
BENEFITS HELD IN RESERVE
A reconciliation of the accurnulated DROP account balances is provided in the table below.
RECONCILIATION or DROP Accou NT5
Prelirninaryvalue at beginningofyear $19,055
Beginning of vear Adjustment —0
Final value at beginning of year 5 19,055
Payments credited to accounts +141.216
Investment Earnings credited +11,656
Withdrawals frorn accounts —0
value stand of year 171,937
DROP PARTICIPATION ACTIVITY
Number as ufseptemberso,2019 2
Nurnberentered DROP cluringthe year 5
Number exited DROP duringthe year 0
Number as orsepternberso,2020 7
Average Nlonthly Benefit as of september 30,2020 $2,595
city of Atlantic Beach General Employees’Retirement syste
m
c-3‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 188 of 223
ACTUARIAL VALUE OF ASSETS
As of September 30,2020
Valuation assets are calculated using a smoothed market value over a period of four (4)yea
rs,
as
prescribed under Internal Revenue Procedure 2000-40.The asset value determined under th
is
method
will be adjusted to be no greater than 120%and no less than 80%of the fair market value.
Under this method,the actuarial value of assets is equal to the market value of assets less dec
rea
sin
g
fraction (1/nth per year,where n equals the number of years in the smoothing period)of t gainorloss
for each of the preceding 3 years.
under this method,a gain or loss for a year is determined by calculating the difference betw
een
the
expected market value of the assets at the valuation date and the actual market value of t
h
e
asset
s
atthe
valuation date.The expected value of the assets for the year is the market value of the asse
ts
atthe
valuation date for the prior year brought forward with interest at the valuation interest rate tothe
valuation date for the current year plus contributions minus disbursements (i.e.,benefits and
expenses),all adjusted with interest at the valuation rate to the valuation date for the currentyear.Ifthe
expected value is less than the market value,the difference is a gain.conversely,if the exp
ecte
d
valueis
greater than the market value,the difference is a loss.
Calculation of Valuation Assets is shown on the following page.
city of Atlantic Beach General Employees‘Retirement systemC-4‘G R S 1o/1/2020 Actuarial val
uat
io
n
Agenda Item #10.B.27 Sep 2021Page 189 of 223
DEVELOPMENTOF FUNDING VALUEOF ASSETSAS OF SEPTEMBER 30
2019 2020 2021 2022 2023
A.Preliminary actuarial value from prior year 5 19,034,798 5 20,713,463 S 22,181,692
E.Market value beginning of year 19,714,297 20,497,952 21,719,136
C.Market value End of year 20,497,952 21,719,136
D.Nowinvestment net cash flow
[contributlonsA(bene?ts &expenses)]164,479 82,211
E.Investment return
1.Actual market value return net of investment
expenses:C -B -D 619,176 1,138,973
2.Assumed Rate of Return 6.75%6.75%6.75%6.75%6.75%
3.Assumed Amount of Return 1 336 266 1 386 196
4.Excess/(shortfall)tn be phased-in:E1 »E3 (717,090)(247,223)
F.Phased»in recognition of investment return
(4 Year Recognition)
1.Current year:25%of E4 (179,273)(61,806)
2.25%cf excess/(shortfall)from first prior year 81,404 (179,273)(61,806)
3.25%of excess/(shortfall)from second prior year 159,499 81,404 (179,273)(61,806)
4.25%of excess/(shortfall)from third prior year 116,290 159,497 81,405 (179,271)(61,805)
5.Total phased-in recognition of investment return 177,920 (178)(159,674)(241,077)(61,805)
G.Actuarial value end ofyear
1.Preliminary actuarial value end ofyear:
A +D +E3 4-F5 20,713,463 22,181,692
2.Upper Corridor limit:120%of C 24,597,542 26,062,963
3.Lower corridor limit:80%of C 16,398,362 17,375,309
4.Actuarial value and 0f year 20,713,463 22,181,692
H.Difference between market value and actuarial value (215,511)(452,555)
I.Ratio of Funding Value to Market Value 101%102%
City of Atlantic Beach General Employees’Retirement System C-5GRS10/1/2020Actuarial Valuation Agenda Item #10.B.27 Sep 2021Page 190 of 223
The investment rate of return has been calculated on the following bases:
Basis 1 —
Basis 2 —
(depreciation)
lNVESTI\/IENT RATE OF RETURN
Year Ended
9/30/99
9/30/00
9/30/01
9/30/02
9/30/03
9/30/04
9/30/05
9/30/06
9/30/07
9/30/03
9/30/09
9/30/10
9/30/11
9/30/12
9/30/13
9/30/14
9/30/15
9/30/15
9/30/17
9/30/18
9/30/19
9/30/20
Average
Cornpounded Rate of
Return for
5 vears
10 Years
All Years
investmentnate of,/R'e.t_urn_
Market Value Interest,dividends,realized gains (losses)and unrealized appreciation
ided by the beginning market value of the fund,adjusted for ca
sh
flowduring
the year.This figure is normally called the Total Rate of Return.
Market value-
s.o as
4.3
(13)
(6.7)
10.1
7.2
9.4
9.7
14.7
(11.9)
9.7
9.9
(2-4)
15.4
5.7
4.9
1.1
10.1
10.9
2.5
3.1
5.5
7.6 %
6.3 %
5.5 %
6.7 96
5.4 96
5.0 %
city of Atlantic Beach General Employees‘Retirement Syste
m10/1/2020 Actuarial V
al
u
at
io
n
Actuarial Value:Investment earnings recognized in the Actuarial value of Assets bythe
weighted average of the Actuarial value of Assets during the year.
C-6
Agenda Item #10.B.27 Sep 2021Page 191 of 223
SECTION D
IVI ISCELLAN EOUS INFORIVIATION
Agenda Item #10.B.27 Sep 2021Page 192 of 223
R:-:cc‘sl‘\lcil.l1\=r‘lca.l\IorlVlEl\IiB_ER§_HIi1D)$'''’
,
‘
From 10/01/19 From 10/
01/
18
To 10/01/20 To 10/01/
19A,.~Active Members '"
1.Number Included in Last Valuation 28 34
2.New Nlembers Included in Current Valuation 0 O
3.Non—vested Employment Terminatiorls 0 0
4‘Vested Employment Terrrlinations o (1)
5.Service Retirements o (2)
6.Disability Retirements O O
7.Deaths 0 0
8.DROP Retirement (5)(3)
9.Nurnberlncluded in This Valuation 23 28
B.Terminated Vested Members
1‘Nurnberlncluded in Last Valuation 7 7
2‘Additions from Active Members 0 1
34 Lump Sum Payrnerlts/Withdrawals 0 o
4‘Payments Commenced (1)(1)
S4 Deaths 0 O
6.Other 0 0
7.Numberlnciudedin This Valuation 6 7
C.Service Retirees.ty Retirees,Beneficiaries &DROP
1‘Number Included in Last Valuation 75 74
2‘Additions from Active Members 0 2
3.Additions entering the DROP 5 3
4.Additions from Terminated Vested Members 1 1
5.Deaths Resulting in No Further Payments (1)(5)
6.Deaths Resulting in New Survivor Benefits (1)(1)
7.End of Certain Period —No Further Payments 0 O
8.Other —-New Survivor Payments for Death 1 1
S.Numberlncluded in This Valuation 80 75
city of Atlantic Beach General Employees’Retirement system
10/1/2020 Actuarial va
lu
ati
on
D-1
Agenda Item #10.B.27 Sep 2021Page 193 of 223
Age Group
2o~24 NO.
25-29 No.
3o—34 No.
STATISTICAL DATA
Active Ivlembers as of October 1,2020
2529 30 &up
City of Atlantic Beach General Employees‘Retirement syst
em10/1/2020 Actuarial
D»2
Agenda Item #10.B.27 Sep 2021Page 194 of 223
NUIVIBER ADDED TO AND REIVIOVED FROIVI ACTIVE IVIEIVIBERSHIP
Nurnher
Added Termlnatlons During vear Active
vear During Service Dlsal:-I y Died-in withdrawal Membe
rsEndedvearRetirementRetirementServicevestedOtherTotalEndof
September 30 A E A E A E A E A A A vear
1997 12 11 1 0.5 1 0.2 0 0.2 2 7 9 76
1998 12 IS 0 0.5 0 0.2 0 0.2 0 6 6 82
1999 14 17 1 0.8 1 0.2 0 0.2 0 15 15 79
2000 7 6 2 0.0 0.1 0 0.1 0 4 4 70
2001 9 8 1 1.2 0 0.1 1 0.1 1 5 6 71
2002 7 10 1 1.2 0 0.2 0 0.1 2 7 9 68
2003 12 11 2 0.8 0 0.2 0 0.1 0 9 9 1
0
.
8
84
2004 12 1.0 2 1.2 0 0.2 0 0.1 1 7 8 1
0
86
2005 10 14 2 0.8 0 0.2 0 0.2 1 11 12 9
.
4
2
82
2006 10 11 5 2.4 0 0.1 0 0.2 0 6 6 81
2007 8 7 1 1.8 1 0.2 0 0.2 1 4 5 82
2008 7 6 0 3.2 0 0.1 0 0.2 1 5 6 83
2009 6 2 0 3.8 0 0.13 0 0.21 1 1 2 6
.
9
4
87
2010 4 7 4 4.4 0 0.13 0 0.21 0 3 3 84
2011 6 7 5 5.3 1 0.14 0 0.25 1 0 1 5
.
6
9
83
2012 8 7 2 4.3 0 0.2 1 0.2 2 2 4 63
2013 *0 0 5 4.6 0 0.2 0 0.2 0 2 2 56
2014 *0 0 5 4.9 0 0.1 1 0.2 1 1 2 48
2015 ‘0 0 4 3.9 0 0.1 0 0.1 1 0 1 43
2016 *0 0 2 3.4 0 0.1 0 0.1 2 0 2 39
2017 *0 0 0 2.7 0 0.1 0 0.1 2 0 2 37
2018 *0 0 3 3.1 0 0.1 0 0.1 0 0 0 34
2015 *0 0 5 3.6 0 0.1 0 0.1 1 0 1 28
2020 *0 0 5 3.0 0 0.1 0 0.1 0 0 0 23
5—yr.Totals
2016-2020 0 0 15 15.8 0 0.5 0 0.5 5
Expected
2021 2.3 0.1 0.1
A Represerl ts actual n urnber.
E Represen 5 expected n urn ber.
*Plan is closed to new en trants
‘GRS clty of Atlantic Beach General Employees‘Retirement system
10/1/2020 Actuarial val
u
ation
D»3
Agenda Item #10.B.27 Sep 2021Page 195 of 223
Retired Members and Beneficiary Data
Historical Schedule
Exp
ecte
dAddedRemovedNetIncreaseEndofVearRe
mov
alsYearEndedAnnualAnnualAnnualAnnual Ann
ualSeptember30No.Pensions No.Pensions No.Pensions No.Pensions No.Pe
nsi
ons
2000 5 78,522 3 32,513 3 45,009 25 220,022 0.5 4,195
2001 1 17,716 "‘1 17,715 27 237,738 0.6 4,543
2002 3 23,134 1 25,301 2 (3,517)29 234,121 0.7 5,355
2003 2 32,159 1 5,889 1 26,270 30 260,351 0.9 6,159
2004 2 35,900 2 17,150 19,740 30 279,131 1.0 5,955
2005 3 47,505 1 5,774 2 41,730 32 320,351 1.0 7,331
2006 6 82,446 3 29,272 3 S3,174 35 374,035 1.0 7,917
2007 3 51.425 3 51,425 38 425,450 1.1 3,793
2008 1 9,217 1 9,217 38 425.450 1.3 10,
3282009217,424 2 5,992 11,432 38 436,892 113 11,534
2010 4 95,156 3 13,150 1 81,366 39 518,258 1.2 11,
85420119105,409 1 14,326 8 91,083 47 609,341 1.2 12,
4142012477,393 0 ~4 77,393 51 686,734 1.2 12,
62320135150,537 1 12,234 5 148,303 55 334,402 1.3 14,
5052014591,970 2 15,908 3 75,062 59 909,454 1.3 15,
55120155162,151 0 —S 152,151 54 1,071,515 1.3 15,
6442015333.905 0 —3 38,905 57 1,110,520 1.4 13,
2412017224,579 0 —2 24,579 59 1,135,199 1.5 20,
25920185140.399 D -S 140,399 74 1,275,598 1.6 22,
09520137214,213 5 54,724 1 149,439 75 1,425,037 1.3 25,
25320207139,557 2 9,559 5 129,898 30 1,554,985 117 26,
351Expectedfor
119 30,
345
2021
*Includes a one—tirne 5.0%cost—of—IiI/lng Increase.
clty of Atlantic Beach General Employees‘Retlrement syste
m‘G R 5 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 196 of 223
SECTION E
SUI\/Il\llARY OF PLAN PROVISIONS
Agenda Item #10.B.27 Sep 2021Page 197 of 223
Ordinances:
Plan established under the code of Ordinances for the city of Atlantic Beach,Florida,II,chapter
2,Article VI,Division 3 and was most recently amended under Ordinance No.53—20—45 pa
ss
ed
and
adopted on october 26,2020.The Plan is also governed by certain provisions of Part chapt
er112,Florida statutes (l=.s.y and the internal Revenue code.
Effective Date
Decernber 22,1975
Plan Year
October 1 through September 30
Type of Plan
Quali?ed,governmental defined benefit retirement plan;for GASB purposes it is a sole e
m
pl
oy
er
plan.
Eligi my Requirements
The plan is Currently closed to new entrants.
Prior to closure,the plan included all city employees,other than police officers or firefig
hters,
who
normally worked more than 1,000 hours annually and who were not elected officials,t or
contractual employees,or executives or departments heads that elected not to participate
.
They
became members on the date of employment.
Credited Service
Service is measured as the total number of years and fractional parts of years.No service willbe
credited for any periods of employment for which the member received a refund of the
ir
empl
oyeecontributions.
Cnrnpe nsaticn
Base salary or wages paid for services rendered to the city including longevity pay,overti
me
pay,cost
of living payments,holidays and personal leaye taken.compensation excludes payments ofunused
personal leave,uniform or equipment allowances,or any reimbursement of expenses.
Final Average Cornpensation (FAC)
Average monthly rate of Compensation during the highest 60 consecutive months of C
r
e
d
it
e
d
Service
out of the last 120 rnclnths preceding the date of terrninatiorl or retirement.
‘GRS city of Atlantic aeach General Employees’Retirement syste
m
E-1
10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 198 of 223
Norrrlal Retl rerrlent
Eligibility:A participant may retire on the first day ofthe month coincident with or followi
ngagesowith5ormoreyearsofCreditedService.
Benefit:For employees hired betore April 24 2005:
2.85%of FAC tirrles Credited Service.Benefit is Ii "ted to 100%of
For ernplovees hired on or after April 24 2005:
2.50%of FAC tirnes Credited Service.Benefit is Iirnited to 100%of
Normal Form
of Benefit:Life Annuity;other options are also available.
Early Retirement
Eligibility:A member may elect to retire earlier than the Normal Retirement Eligibility upo
nattainmentofage55with5yearsofCreditedService.
Benefit:The Normal Retirement Benefit is actuarially reduced (at 6%per year)fo
r
eac
h
yearby
which the member's Early Retirement date precedes age 50.
Normal Form
of Benefit:Llfe Annuity;other options are also available.
Delayed Retirement
same as Normal Retirement taking into account compensation earned and service credit
ed
untilthe
date of actual employment termination.
Service Connected Disability
Eligibility:Any member with 5 or more continuous years of credited service who bec
om
es
totally
and permanently disabled and unable to render useful and efficient service tothecityis
eligible for a disability benefit.
Benefit:The bene?t is calculated as if the member was eligible for Normal Retiremen
t
andis
payable retroactively to the later or;the last day on payroll,or the date appl
icati
onfordisabilitybenefits.
Normal Form
of Benefit:Life Annuity;other options are also available.
‘GRS city of Atlantic Beach General Employees’Retirement systemE-2
10/1/2020 Actuarial va
lu
ati
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Agenda Item #10.B.27 Sep 2021Page 199 of 223
IVI.Norl-Service Connected Disabllity
Eligibility:Any member with 5 or more continuous years of Credited Service who bec
ome
s
totally
and permanently disabled and unable to render useful and efficient service totheCityis
eligible for a disability bene?t.
Benefit:The benefit is calculated as if the member was eligible for Normal Retiremen
t
andis
payable retroactively to the later of;the last day on payroll,or the date
for disability bene?ts.
Normal Form
of Benefit:Lire Annuity;other options are also available.
N.Pre—Retiren-lent Death
Eligibility:Any member with 5 or more years of credited service is eligible for a death benef
it.
upon the death ofa member.the designated beneficiary shall be paid an a
ct
u
ar
ia
ll
y
reduced benefit based on one hundred (100)percent survivor pension no
tw
ith
sta
nd
in
g
that the member may not have sat fied the Conditions for retirement.I
f
th
er
e
areno
beneficiaries designated by the nlernber,then a benefit shall be paid to t surviv
ingspouseor,if no surviving spouse,a reduced benefit will be paid to the me
mb
er'sunmarriedchildren.
Benefi 2
If spouse is receiving benefits described above,no children's benefits are p
a
y
a
b
l
e.
If spouse is not receiving benefits,children under age 19,or age 23 if a ful
lti
m
e
student,
will receive equal shares of 50%of the member's Normal Retirement Bene
fit
underthe
Life Annuity option based upon service and FAC as of the date of death.
Normal Form
of Benefit:Payable for the life of the rnernbefs beneficiary or spouse.Children's bene
fits
are
payable until age 19 or age 23 if a fulltime student.
0.Post Retirernent Death
Benefit determined by the forrrl of benefit elected upon retirement.
9.optional Forms
in lieu or electing the Normal Form of benefit,the optional forms of benefits available t
o
allretirees
are the 10 Years certain and Life thereafter option,or 50%,as 2/3%,75%or 100%Joint a
n
d
survivor
options.A social security option is also available for members retiring prior to the time are
eligible for social security retirement benefits.
city of Atlantic Beach General Employees’Retirement syste
m
E—3‘G R S 10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 200 of 223
Q.Vested Termination
Eligibility:A participant has earned a rlon~f'orfeitab|e right to Plan benefits after the co
mp
leti
on
of
5 or more years of Credited Service.
The benefit is the rnernber’s vested portion of the accrued Normal Re rern
erlt
Benefitas
of the date of terrnirlatiorl.Bene?t begins on the Normal or Early Retirernerlt date.
Norrflal Forrrl
of Benefit:Life Annuity;other options are also available.
optionally,vested participants may also withdraw their contributions in l
i
e
ofthe
deferred benefits otherwise due.
Benefit:The member who terminates employment receives a lump-sum payment ofth
employee contributions with interest.
S.lvlernber Contributions
6%of Compensation
T.Employer Contributions
The amount determined by the actuary to pay the normal cost and an amortization of unfund
edactuarialaccruedliabilities,along with employee contributions.Following are contribution ratesper
recent valuation
Contribution
veer
Beginning City lvlernher Total
10/1/2009 14.84%5.000%19.34%
10/1/2010 15.50%5.000%21.50%
10/1/2011 24.53%5.000%29.53%
10/1/2012 25.34%5.000%31.34%
10/1/2013 29.19%5.000%35.19%
10/1/2014 31.59%6.000%37.59%
10/1/2015 45.39%5.00035 52.3995
10/1/2015 55.55%5.000%52.55%
10/1/2017 54.35%5.000%70.35%
10/1/2013 59.92%5.000%75.92%
10/1/2019 71.49%5.000%77.49%
10/1/2020 75.02%5.000%32.02%
10/1/2021 77.17%5.000%33.17%
city of Atlantic Beach General Employees’Retirement syste
m
E—4‘G R S 10/1/2020 Actuarial va
lu
ati
on
Agenda Item #10.B.27 Sep 2021Page 201 of 223
U.Cost of Living Increases
The plan does not provide for automatic post—retirarnent cost of living adjustments (com
)
ofretiree
benefits.
Changes from Previous valuation
See the Discussion of Valuation Results Section of this report under the Revisions in Ben
efits
heading.
Gain-sha ring benefits
Not applicable.
Deferred Retirement Option Plan
Eligibility:
l\/Iaxirnurn
DROP Period:
Interest
Credited:
Normal Form
of Benefi :
Plan members are eligible for the DROP upon attainment of age 55 with yea
rs
of
Credited Service.
All rnernbers rnust rnake a written election to participate in the DROP.
The n1ernbeI’s credited Service and FAC are frozen upon entry into the DR
OP.
The
monthly retirement benefit as described under Normal Retirement is calculat
ed
based
upon the frozen credited service and l=Ac.Benefits for members entering DROPprior
to age so will be actuarially reduced for Early Retirement.
60 rnonths
Participants‘DROP account balances wi|I be credited in accordance with theself
-
dir
ect
ed
options selected by the participant who entered the program prior to July 201
3.
Forall
other participants,DROP account balances will be credited or debited quarte
rly
with
interest based on F'|an’s net investment earnings or losses for that quarter.
Lurnp Surn or rol|—o\/er to a qualified retirement account.
city of Atlantic Beach General Employees‘Retirement Syste
m
E-5
1o/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 202 of 223
SECTION F
COIVIPARATIVE SUl\/IIVIARY OF PRINCIPAL VALUATION
Agenda Item #10.B.27 Sep 2021Page 203 of 223
ca l,>'Al;AilvEsuMlviAnv or lmlm:‘lluAL vAu.iA11oN nasurrs
A.Panlclnant Data
Number Included:
aw?-r,_»:li1u F tzzcn-,wl:er1’.z<1>‘4o
After cl-anaes sci-we cIlu':‘rru7‘es
Active:23 23 23
service Retlvees s.laenenclaries TI 77 72
'ablllty Retirees 3 3 3
Terminated Vested Members 5 5 7
Total Members arm lsenerlclaries 109 11:9 110
Tnlal Annual Payroll {Excludlnls once Participants)$1,425,305 $1,425,305 $1,
542
,
552
Annual valuarlon Favrclll 1,425,305 1,425,acl5 1,542
,552
Expected Annual payrcll in Contribution Year 1,425,305 1,425,306 1.
642.
552TotalAnnualizedlaeneilrs
Service Rezlrees ls.Beneficiaries 1,503,124:1,503,124 1,
375,
225laisaalmyRetirees45,551 45351 45,251
Terminated Vested Members 45,549 43,549 57,355
5.Assets (Market value)‘
Cash and Short Term Investments 551,155 551,155 453,
137TreasuryandAgencyaandsls.Notes 1,950,370 1,s5cl,a7n 1,559
,235ccrnmenandPreferredSlacks11,532,454 5,332,494 7,
2ol3,
ls5aVvlulualEquityFunds3,579,755 3,575,755 3,
427,
453NlulualorPooledBondFunds4,535,553 4,533,555 5,555
,035CorporateBonds2,171,515 2,171,515 1,971
,532Olhersecurlllesooa
Net Receivables 3.Payable;4,375 4,579 (115,
451)
Total 21,719,155 21,719,135 2o,
<
19
7,
9s
2
Fundlng (Acruarlai)value 22,151,592 22,151,552 2o,
71
3,
45
2
Assers include:
Accumulated acllve member ccnzrlmmons 1,535,595 1,535,599 1,133
,300(wlm Interest Ifapnlicahle)
c Actuarial presenl value araccrued benefits -
(|)Veslecl accrued aenems
aeured members and benellciarles (excl DROP balances)15,520,577 15,741,537 15,
35
0,
57
4
rerrnlnazed rnernaers 253,512 254,513 437,
746unopaalances171,537 171,557 19,055
Actlve rnernbers(lnclur.1es namrarreiraaie members
conrrlaunons cl 1,035,559 and 1,152,350)5 545 5::5,555 5:33 5,
145,
951rolal22,455,155 22,344,005 21,
94
7,
54
5
(ll)Nul-vvestad accrued laene?rs o o 0
(HI)Talal actuarial p.v.al accrued eenems 22,495,155 22,844,000 21,
94
7,
54
5
(N)Aciuanal p.v.av accrued bene?ts at begin.oi year 21,547,545 21,547,545 21,
35
5,
13
5
(V)chances aurlburable lo:
Amendments none ndne none
Assumptions (307,841)nuna O
oaerauon of aecrernerus 2,225,757 2,225,757 1,
539,
374
Benefit pavrnerus (1,329,553)(1,329,553)(1,
327
,
161
)
Other nane nane nane
(vi)Ner ch;-1nL:e(PVl\E measurement Mernea chancel 543,315 555,154 512,715
(vi!)Actua Ial av,57 accr.aenems at end of year 22,495,159 22,a44,oua 21,
51
7,
54
5
*DROP balances are included,
GRS ty of Atlantic Beach General Employees’Retirement Syste
m10/1/2020 Actuarial
Agenda Item #10.B.27 Sep 2021Page 204 of 223
J.~’.i:l'|l~""lil.l:-1-)l\’.ll'll‘
Llabllitless Actuarial Present value of Future aeneflts
1.Active Members
Service Retirement Benefits
vesting aenefits
Disability Benefits
Pireretlrernerit Death Bene?ts
Return of Member Contributions
Total Actives
2.inactive Members
service Retirees El Bene?ciaries
Disability Retirees
Terminated vested Members
Total Inactive Members
3.DROP Balances
4.Total Present value for All Members
Total Present value of:
Future salaries
Future Employee contributions
Future contributions frurn othersources
l
$8.524,832
221,245
120,833
165,047
5,342
9,137.75s
16,037,473
433,204
253.512
15.774.239
171.937
2s,oa4.o2s
10,375,078
522,505
5.279.323
$8,733,381 $9.522.
129231.921 261.522
115,785 131.847
226,876 245,917
8,003 3,941
5,322,457 10317
1.456
15,304,718 14,904,
520437,119 445,554
254.51;437,745
17.uo6,45s 15,787
,820
171,937 19,065
26.500.85s 25.573,341
10.332.3U8 11,
5554G
67515,939 695.140
4,559,733
10/1/2020 Actuarial v
al
u
at
io
n
Total UAAL for Frlor valuation Date $3.391.477 $3,391,477 54.
531
109
b.Employer Normal cost for this period 225,474 225,474 244,344
c,interest aeccrued on (a)and (b)244,144 244,144 322,748
cl.contributions for this period (1,352,952)(1,362,952)(1,424,
475)e.interest accrued on (:1)(06,000)(46,Duo)(4s,u76)
r.Changes due to:
Plan Amendment D o o
Assumption Changes (3ss,a99)o o‘Asset Method 0 o 0
Actuarial (Gain)Loss 226.116 226.116 (240,159)
Total current UAAL:a+o+etd+e+r 2,2s9,75u 2,678,259 3391477
city of Atlantic Beach General Employees’Retirement syste
m
F»2
Agenda Item #10.B.27 Sep 2021Page 205 of 223
ori -inal and Crret nfd ctuarial Acced Lia
Vears Amortization Original Curr
entItmDescriptionRemainingParnentAmountUnfun
ded
$437,895 $4,133,993 102
(24,239)(203,109)(
5
8,
2
1
5)
1,530 13,100 5,929
225,242 1,817,483 82
2,
59
5
45,303 379,312 20
4,
03
1
76,847 621,358 39
4,
05
3
64,146 518,668 32
8,
92
9
(42,333)(343,244)
84,957 688,841 49
3,
108
10/1/2018 Experience Gain (17,923)(144,346)
10/1/2019 Experience Gain (30,644)(240,169)
10/1/2020 Experience Loss 29,811 226,115 22
5,
11
5
10/1/2020 Assumption Changes (51,219)(388,499)
9/30/2012 Original UAAL
9/30/2013 Experience Galn
9/30/2014 Experience Less
9/30/2014 Assumption changes
9/30/2015 Experience Loss
9/30/2016 Experience Loss
9/30/2016 Assumption changes
10/1/2017 Experience Gain
1o/1/2017 Assumption Changes
2
3
4
4
5
6
5
7
7
8
9
$801.47
7
$704,509
,
$2
,
28
9,
76
0
city of Atlantic Beach General Employees’Retlrernent syste
m‘G R S 10/1/2020 Actuarial v
a
l
u
a
t
i
o
n
Agenda Item #10.B.27 Sep 2021Page 206 of 223
Entry Age Nurrnal cost rot:
sew ce Retirement Benefits
vesting aene rits
abll Iv Beneflls
Preretlrernent Death Be ne rits
Return of Member contributions
Total Actives
Administrative Expenses
Expected Member contribu
rotai Employer Normal cost
Payment Required to Arnorlize Unfunded Actuarial
Accrued Lla lty
Total Conlrlbutlon at valuation Date
Total contribution Aoiustea ror Frequency or
Payments ana interest to next Following nscai Year
%of Expected Payroll
Amount Expected to he centrinutea by iviernisers Next FY
9:.or zxpecteo Payroll
cai veers Ended September so or 2019 and 2020
October L 2013
septemher 30,24120
past cont bulinns-For the
Required contribution ueterminea in the valuation as or
for the Fiscal vear Ending
1.050,235
$191,152
25,470
10,373
s,235
5,749
244,995
42,455
39,573
197.591
852.697
1,152,175
s;\.54%
35,513
S.DC|96
$229,367
30,041
11,141
7.315
1:1,535
288.450
40.53;:
103,590
225,474
902,922
1.123,395
1,245,604
75.02%
sis,554
5.00%
O
ct
ob
er
1,2017
sea
te
rnberan,2015
by the Plan sponsor $1,355,973 $1,424,
479byMembers$113,803 s1u,233
Actual Contribution forthe cal vearenued septemtserso.zozo sept
ernb
ersci
,
2019
bv the Plan sponsor 51,352,952 1,424,479
by Members 595,921 107,745
Net expenence (gain)lass uunng year:s22s,11s ($240,159)
1.Plan to Amortize Unfunded Actuarial Accrued Llabi
10 year furl ‘
B uf the o
10 year runaini;or any emerg ng Gains or tosses.or assumption changes.
2.Schedule illustrating the Amortization of the Unfunded Actuarial Accrued bil1lv(UAAL)
Year wajattsa unit:
2020 2,239,750
2021 1,535,742
2022 340,404
2023 509,005
2024 123,354
2025 0
2025 0
2027 0
3.Action taken since last actuarial valuation.
Contribution sumcient to satisfy the total required contribution.
City of Atlantic Beach General Employees’Retirement syste
mGRS10/1/2020 Actua rial v
al
uatiun
Agenda Item #10.B.27 Sep 2021Page 207 of 223
J.
K.
coMp,ARA*rlv:su IVIIVIARVor PRINCIPAL VALUATION naulné
1.Three—Year Comparison of Actual and Assumed Salary increases (Annualized)
2.Three—Year
3.Average An
,
,,
,
i
,
9/30/2018 5.1%
9/30/2019 5.1%
9/30/2020 5.1%
'9/30/28
9/30/2019
comparison of investment Return (Actuarial Value)
9/30/2020
nual Growth in Payrcll I,Last Ten vears (if applicable)
\I_aIl.iation Date Total Pa'yrqlI
9/30/2010
9/30/201 1
9/30/2012
9/30/2013
9/30/20 14
9/30/2015
9/30/2016
10/1/2017
10/:l/2018
10/1/2019
3,837,512
3,738,277
3,713,609
2,733,429
2,397,375
2,074,507
2,070,021
2,037,220
1,395,794
1,642,562
10/1/2020 1,425,306
Total %Increase Last
Annual %Increase
Th'rI:y—year Forecast
Ten Years (62.86)%
(9.43)%
00%
Benefits and Expenses of Plan not Explicitly or implicitly Provided in Valuation
NONE
Trends not taken into Account but which are likely to Result in Future Cost Increases
NONE
€13‘city of Atlantic Beach General Employees’Retirement syste
m10/1/2020 Actuarial v
a
l
u
a
t
i
o
n
F—5
Agenda Item #10.B.27 Sep 2021Page 208 of 223
AGENDA ITEIVI:
SUBIVIITTED BY:
TODAY'S DATE:
IVIEETIIVC-E DATE:
BACKGROUND:
BUDGET:
RECOl\IlI\/IENDATION:
ATTACH IVI ENTS:
2.User ncation
REVIEVVED BY CITY RAANAGER
CITY OF ATLANTIC BEACH
CITY CCDIVIIVIISSION IVIEETING
STAFF REPORT
User Fees Presentation
Timmy Johnson,Cultural Arts &Recreatlcn Direct
September 15,2021
September 27,2021
Chapter 5 of the Code of Ordinances Beaches and Parks Public Parks S
e
c
532
User fees for Parks and Recreation Facilities addressing fees for city
The rental of centers are as follow:
Adele Grage —$50 per hour Monday —Thursdav;$100 per ho
ur
Frida
yafter5pmthroughSunday(after 12).
Baker and Jordan Center -$25 per hourwlth a 4 hour rnlnirrlum
.$100 per hour for an event serving alcohol plus an ofF—duty
u $200 refundable deposit for all centers.
summer Camp fees:.$45 per week per child
$50 per child for the duration of camp for chlldren who qualify forfree
or reduced price school lunches.
Lost keys
-S8 for a key..szo for a key card.
other fees are $25 which Include camping (per site per night),pavlllon,tenn
iscourt,Beach fire.No depo
None
A,Cltv supported (through the cultural Arts &Recreation Committee
nonprofit organization shall receive a 40%discount for use of city facili
ties.
B.Any nonpro?t requesting to rent a city facility/park more than 100 a
year must have prior approval by the city commission.
1.Sec S-32 Parks and Recreation User Fees
Agenda Item #10.C.27 Sep 2021Page 209 of 223
Atlantic Beach.FL Code of Ordinances
Sec.5-32.-User fees for parks and recreation facilities.
(1)Twenty-?ve dollars ($25.00)per event or activity.
(2)Deposit required:Fifty dollars ($50.00),refundable if no damage to facility,the facility is cleaned after use and no violation ofparkrulesorcityordinances.
(3)"Premium hours"are identi?ed as:
QFriday 15:00 p.m.or later 3
Saturday All day 3
Sunday Noon or later Ja
l
the facilityat the full usage rate,then the repetitive use not-for-
to another facility.
pro?t.homeowner,or neighborhood association may be relocated
If a repetitive use not—for-pro?t,homeowner,or neighborhood association wish es to secure the facility for premium days/times,then they will be required to pay the full usage fees for the rental.
‘l/3 Agenda Item #10.C.27 Sep 2021Page 210 of 223
Atlantic Beach,FL Code of Ordinances
(C)Private events at the Adele Grage Cultural Center,Monday through Thursday:
(2)Deposit required:Two hundred dollars ($200.00),refundable if no damage to facility,the facility is cleaned after use and noviolationofparkrulesorcityordinances.
(d)Individual events at the Adele Grage Cultural Center,Monday through Thursday,by 501(c)(3)not-for-pro?t groups,neighborhoodorhomeownerassociations:
(1)Twenty-?ve dollars ($25.00)per hour with a maximum daily fee of three hundred twenty dollars ($320.00).
(2)Deposit required:Two hundred dollars ($200.00),refundable if no damage to facility,the facility is cleaned after use and noviolationofparkrulesorcityordinances.
(e)Private events at the Adele Grage Cultural Center,Friday through Sunday:
(2)Deposit required:Two hundred dollars ($200.00),refundable if no damage to facility,the facility is cleaned after use and noviolationofparkrulesorcityordinances.
(f)Individualevents at the Adele Grage Cultural Center,Friday through Sunday,by 501(c)(3)not-for-pro?t groups,neighborhood orhomeownerassociations:
(2)Deposit required:Two hundred dollars ($200.00),refundable if no damage to facility,the facility is cleaned after use and noviolationofparkrulesorcityordinances.
(g)For events or activities at any city facility involvingthe use of alcoholic beverages.The provisions 0 f;h_a_pter3 of this Code shallalsoapply.
(1)One hundred dollars ($100.00)per hour for any event sewing beer,wine or any type of alcoholic beverages.
(2)Requires off-duty police officer paid by rental party at prevailing hourly rate.
(3)Must receive prior approval of a special event permit from the city manager.
(4)Use of alcoholic beverages is not permitted in city parks or on the beach,and alcoholic bev erages must be contained withinthebuildingapprovedtohostsuchevent.
(5)No fee,ticket or other type of compensation shall be charged for alcoholic beverages at any activity at city facilities.
2/3 Agenda Item #10.C.27 Sep 2021Page 211 of 223
Atlantic Beach,FL Code of Ordinances
(6)Violation of these rules may [be]cause for forfeiture of any deposits.
(h)Lost key charge:Eight dollars ($8.00);lost security card:Twenty dollars ($20.00).
(1)Beach bonfire.
(1)Twenty-?ve dollars ($25.00)per activity on beach with bon?re or any type of open ?ame.
(2)Approval of a ?re permit by the parks and recreation department is required.Permit must be re quested and approved duringregularcityweekdayworkhoursatleasttwenty-four (24)hours prior to activity.
(j)Summer Camp at Donner Park Community Center and Jordan Park Community Center.
(1)Forty-?ve dollars ($45.00)per week per child.
(2)Fifty dollars ($50.00)per child for the duration ofthe summer camp for children who qualify for free or reduced-price schoollunches.
(k)Camping at Dutton lsland ‘Preserve.
(1)Twenty-?ve dollars ($25.00)per campsite.
(I)Events at any city facility put on by any unit of federal,state or local government shall be exem pt from any of the fees required inthissection.
application fee when submitted for processing.
(n)Sales tax for the rental of city facilitiesshall be the responsibility of the renters.
(Ord.No.95-03-82,§1,1-27-03;Ord.No.95-05-89,§1,4-11-05;Ord.No.95-07 -93,§1,2-26-07;Ord.No.95-10-100,§1,5-10-10;Ord.No.95-12-105.§1,5-14-12)
3/3 Agenda Item #10.C.27 Sep 2021Page 212 of 223
IIEIIIIEIITIIIII
IISEIIFEES
CITY OF ATLANTIC BEACH RECREATION &
SPECIAL EVENTS
Agenda Item #10.C.27 Sep 2021Page 213 of 223
IISEIIFEESHIIIPARKS8.IIEBIIEATIIIN
HIGILITIES
Sec$31-Usclfmiornzrhlrr?muewonfndllus
Thumufpuhlcpalvumdtbusa?ovllzliinswlmhlnwatindktslwmauuusmlboasm
mmrmmwuualon.
(I;Um-?nhcwvlbaADnJalunParlCammIml1~y€alnt1nlDl:nn-IP-vttomnmilycum
my omhurldnd Hahn Ksmlln?ylovla-tllyhwls India-niyllve man (:15 runumum
masmal mu:
m Dtvuvlmm Vm:mm...le{lus(S1w0?)man.u...dunagelu mm.u.
may ls cue--we-rm-sewe womanormm:-vdlyavdhlnllcu (c)Private mms anthe Adele sung cunuml Center,Mondny thmugh Thursday.
in Rwumg use cl any my bcily or pm u,sump;?HK~'W1>VI'll]lB|ly5‘nuighbdvv-oddu
hz-mecvneranaallimsvlqhspyrwcd Ia¢rIyenllnvl|luslx(6)nlIlwrIi-lspnyurdlnulg (I)Fmy dollars (ssn no)per hour with a maximum dany lea uflouv hundreddo?als (S-100,00)
“W'=““""°“"(2)Deposix required:Two hundved dollar:(5100.00).teiundabla if no damage In fadlity.ma
lll T»-I-Mn was lszaMy ptte'<k4vluvanvI\1»facility is cleaned ailer use and no Violi?oll olpark rules or city ordlnanus,
al Dewszmade my dohn lsmm,«mm II no an-woeInmany.he W-v ls
I
.,(d)Ind ’dual mm Al the Adele Ema:Cullural Canter.Monday DlroughThursday,by 501(c)(3)
D,
"“'°""‘:"“""‘"""°”"’“""‘‘“not-in!-pmfrl groups,nlighbvrhomi or homluwnu assn:nous:
7 (1)Twemy-?ve dollars (525 no)per hour with a maximum my lea oflhvee hundred Iwenly
may sac urrmrlzrer da11ars(S32?.0B)
{mm ;M—”—
——(2)neposu req-uirl .we rumdmd dollars (s2an,nn)refundable ?ne damage In lscilily,me
facility is cleaned alley use and no violalionnf park mles or city nrdinallus
sum;man 01 lulu
mmmia us.(lulu!-ymit mm.cl I-igilbumno?asswdliwnmy;mm long:.4
mumsvyyims um.m.u,.a..dnlm (S2§.?07vIl‘rvIll|l1lI.)1wnnIr mu mu
mdaysolltvuzkdllledcvenllllwmalyalwv?s?lsinummelxiyzl?nhlllmge?lr
u..u.u.,mmm.mm.m m......m«Mrlelgtlbdvliwndaswlirlnnnuyhellluzled
u uwlm?adly
larlplmivu-lstm?ot-pvu?lhnmewnlu.nlltdghbvmwdasiauxfnnvvimslasumm-
Iaammg.-muumaaysnsmm ?mlmrywilhllevirilanlylt-ehllslgdttslnrlixl
mvul
Agenda Item #10.C.27 Sep 2021Page 214 of 223
SEIIFEESFIJI!PARKS8.BEBBEATION
I‘M'.‘IlI'I'|ES(HINT.
(e)Pvivaxcwems M the A6219Gm:cunmavCutler.Fvidaymiough Sunny"
(17 On:hundreddnllars (sum anypu hour wm a maximum any fee afeigm hundlad donuts
(sauna)
an Deyosil mqnnsd:Two hundred apnm (sznn on),vzfmdihle n nu damage as lasiity.the
enemyis uaansd a?er us:and no violllian M park mks or dly pnnnancu.
(1)xndwwuaxmacs al In:Adele guucnlnnan csnx mayIhmugh Sunday.by 5IlI(c)(3)ml-
nn-pmnpmups.ncignbnmuwdarhnmeownev asso ans:
(1;my dnllals (550 an)pevhuuvw?h a maximum daily!“afsix hundmu unllavs(seen an).
R)D nsnrvquimd'Twn hundmd annan(mu M),Irfundabh n no damagt to enemy,ms
faulhy is dulled ann use Ind rm vhzlmionMpitk mussordly aninanpns.
{g}For events or aczaviussat any city«sunny inyannnpthe us:of alcnholic hwerages,The pmnsions
of cmplev 3 pr anscoassnanalso apply
:1)one name:dollars (smmon)per ham (or any mm sannngnear.wine or any we ol
Iloohn?zbeverages
(2)Requires ptsanny pom n?icerpaid hy mna:pan,n pravli?ng nannymt
(2;Must mans prim appmval ofa spedll mm pennnnnmmecity manager.
(.4)uss ol alwholic nsvsapss is mn perm'nIed'day pIW§nr on msbeach,and alcnhnllc
nsmapss -nunhe camzimd wilhinEh:nnwngIpplmled cohes!such evenl
(5)No fee.lkkel or enyps at comptmaiiun snanbu charged fur alcohoic bsvuagss axany
away at anyhumus.
(5;Vlolaliannflhese wles may [be]tans:lorln?eiture Many depnsils.
on Leslkcy mm.Eightdullils (55 o snsssnmycam‘Twenly dollars (s2a.nn),
1*)
End!cumin.
(1)Twlnly-livo dallals (s25.an)per aanmyan beam wnnbun?m or my type elupen (lame.
an Approvzl M a fun purml Hy_meparks and usuaanpn uapanmsnn‘rsnqunsu Pamm must he
uqueshe-1 and apprmvedaunnpIagularcily waekdaywurk huurx at lzisllwznly-{cur my mnns
plinr m at?vhy.
a)Summer camp:1 Donna Park Cnmmunily Cenm ma Jordan Plrk connnnnnycemer
(11 Forty-?vedollars (545.?0)p:r week pet snna
(2)my dullivs(S5|).|1?)pIr cnaatsnns dunlion whim summIrmmp(or:h[\drIn\vho quamy
nnnnsav roducad-pnm school lunches
Camping at mmnnIsland Plesuve.
my Tmnprnvs dollm (s25.no)pl!camviité.
(I)syams anany in laalily pmon by any uIIi|nHndu:Ls1:Ie nvlocal ppysmmsnunanKmusmpx
mnnmy cl ansfees Ieullivedin ?ns sssunn
(rn)All speual sysnas vequnsls no!previously addrsssvd nns seniun of the cny Cod:wi|Y be
assesssa.wwnly~?vedollar (s2s.no;nppnnaunn6::when submmed 101prtncessing
(n;sansscaxlm msmu!unity vauiass snanbe m.mspmusih?lyo?he mnlerv
Agenda Item #10.C.27 Sep 2021Page 215 of 223
IISEREEESEIIRPARKS&RECREATION
H|?Il|'I'|ES MINT.
52:.19.4.»special events.
Allspelinl events whim are held on pnblie property mnsl adhera in melollowing mlea and
regulalions
(1)All spldal events taking place on pnbnc property must have a permit lrom me cily mltlager
belere any such events take pllce The nilymxnlgermly nnaptl |n mepermitmuserequirements
II!may deem necessary to pmlecl the public and :'ny's inlereet.
(2)All palm Interested in ecaginga speliil eyern mnstpraviee Iruurance lormc even!in amounls
sat by the city manager.The [parties 5!:5;soul}event may be required Io take DIR aeunibnal
insurance nzrnillg medty as the bene?ualy
(3;All px lss staging an event!may be subject to a perlbrrnanee build set by me city manager to
insure [met]me anyOrdinance Cod:and permitrequlremente are upheld by meeven.
(4)All raqniremenls set by memy manager as part bl his wrinen approval oi the event musl be
upheld by the event.Failure tb do so may resist in a closing A1!aremm by me publicsalety
t?rectorar mepblice elriel
(5)All special events pennntea by on city manager must he spansnred by a nbnprpm curpnriliun
(or I chirltable purpose.Any spe=iI|evenl Io be held by i ?n’-pfo?l corporation lllusl have plinr
approval by the city commissien.
(el aelore any request lbr a speeial eyentis pennmea.lhuse responsible tor the eyenl mus1 ?ll ml!
en appliearipnlolm available lhreugh memyreuealinn depamrnent.
(7)All ?nancial lnlormalinnand moulds whidl may be rzlaledlo Ihe evenl W?l be made ivallable In
mecity ?nance areexbribrY1‘:or heneview.
(at Allparties slaqing a speeialeyernare requlredtb abide by the city code andrlre Flptiua Stawles
Failnra to up so will require the men in be alncallnd
(9)Nu sales nlany kindwill be permitted on meneean beach area.Agenda Item #10.C.27 Sep 2021Page 216 of 223
|lE?IIEll'|'ION PEIIMITEEES
mm
Beach Fire Beach $25 per 4 hour None
increment
Camping Dutton Island $25/per site per None
night
Pavilion Parks $25 per 4 hour None
increment
Park Rental Parks $25 per 4 hour None
increment
Private Event ex.Fun Parks or Streets $25 None
run.We||FesLwedding.
Healthy Halloween
Tennis Court Russell Park court 5/5 $25 for 90 minutes None
Wheelchair Beach or Park Free None
Street Closure Street Free None
Agenda Item #10.C.27 Sep 2021Page 217 of 223
|‘ll?|lI'|'Y |IEll'|'lll FEES
MM
Baker/Jordan
Center
AGCC
AGCC
AGCC
AGCC
AGCC
Centers w/alcohol
Recurring rentals:
nompro?t.neighborhood
associations.HOA
Private Events
Monday —Thursday
Non-Pro?t
Monday -Thursday
Private Events
Friday—Sunday
Non~Pro?t
Friday -Sunday
AGCCI Bakerl
Jordan
$25 per hour —4
hour minimum
$25 per event —
when rents 6 or
more times a year
$50 per hour
Max daily rate $400
$25 per hour
Max daily rate $320
$l00 per hour
Max daily rate $800
$50 per hour
Max daily rate $600
$|00 per hour
$200
$50
$200
$200
$200
$200
$200
On premium days —Friday
after 5 p.m..Sar.urdays.
Sundays I2 p.m.—I0 p.m.—
groups can get bumped for
groups paying full rate with at
least 7 days notice
Must have off-duty AB Officer
present —$40 per hour
Agenda Item #10.C.27 Sep 2021Page 218 of 223
Agenda Item #10.C.27 Sep 2021Page 219 of 223
IIE?0M|ll|ENllA'I'IIINS
-Four organizations that received funding
through the City's grant funding has used a
City facility to put on an event or program
for the Atlantic Beach community this past
year.This change will affect how the
organizations will pay for the facility.
Instead of being charged $25 for the
facility,they would be charged $l5.
'Non-pro?t organizations,like ABAA and
The First Act,who have contracts with the
City currently for use of City facilities or
parks more than IOOXper year,would
have to get approval from the City
Commission.Currently per their contract,
ABAA pays $l a year and The First Act
pays $25 a day for their use of City
facilities.Agenda Item #10.C.27 Sep 2021Page 220 of 223
MIIYDIIIBIIMMISSIIINQUESTIONS&
IHINIMENTS
Grantees that have used our facilities include:New Age Hippy,YeshaTaekwondo,OMI,Kingdom
Builders,Tur|<ey Trot,and Meraki Wellness
Types of Users:private,neighborhood or homeowners association,grantee,non-pro?t
Rentals or permits are given at a ?rst come,?rst serve basis.
—In the event that there is competition between someone paying full rate over a recurring rental,we
will give the recurring rental the opportunity to pay full price for that day or they will be bumped
for groups paying the full rate.
-We will not allow this to happen on days when The FirstAct has a show orABAA has a game.This could
affect practices,however,and these organizations will be given at least a weeks notice.
Renting out other faci|ities:We currently only rent Recreation facilities.Agenda Item #10.C.27 Sep 2021Page 221 of 223
C|TVMATLA>I1lCBEAl:5IRocm.IIinnLS a 5,.
FL mi’;‘-=
.=m....mz.;..604441-5549 .m.W....,
nscumzm-3 RENTAL coN'nzA<:T lor RECREAYIOM FACILITIES
Nor»Pm?K D13.-nnixzlions.sinus,HOAICOA
mam
M W M M,M
Semxrmie Rand ;,.,».,m::,:::i.°.€:;x::;°E~°~=~-~=n -w
NAM:at Anplczm um.mn..»n...x=o
onsmm-«zen MM.
ADDRESS
°"‘’i 571'’Tclenhnnu.
wages“.Ranxcrdusires In use ma (tacmly Name)and
wnzasns.mam aasirva :9 use sue vumie rm-my rmmu wrvoxe nl
csanwcars as uaarur/mswum:£rasaumso eon :L.<:s:s/woIo<s~cIs
elm:owcr-ants and vmmhcs mm
NOW msassone,(he Dames m In mmpceue nveanunl am in uunsrdeminn mum.Ihe mum!armsmmm oimmmm,and any new Daynnenxmean hereunder.and Nlvervlhiahla CNVSWGE
men is awmmgea By mu nan-es.ll 5 Asxsen AS somms.
Roeuvrinq .....u..g dams rot:-msmd m.______________.__._
x.whleh :..=:...a..-....e?m :51 5.,,....,E m..,......;
nm.at Us:From me henna?
Amount -21 Vaymunr m.ulynrmlns me mu.amcrvuin:mm Ions charged men my city Ovainnmm mm
mu pay me?oliamng lee forlanllny uie.
em N mm,lor use at vacmly.5 uaymnu due azure mm»gem,\
:;:.:;;,.:L<mo,.m,.m.,..,nclailowingeocessxoer(ense),T!»ec:n\m:\M|¥i
bve a?erine |olfensea1|a|eD8 °"‘j’E‘5x_°nu
Recurring users:525 per M
I
s sso rehmdabve ?aposillurlecurving use #._W M“mh N,
S 5....,.,,groups 525 per non vermumhours“;1“?‘l'A“l'ShEr__pa.no u .u on
Premium Hours 550 ixssomr,per a .
I ble :1:sillor sins a use»3:32.221anSEEM.(pm -.mm 3 W 0'mm ‘as
'rial key badge 520)
s2o.oo1m lost key badge.W6 0
Paid:
mpm and suD\l!I:\vax)
nhin cm:wuk(SINen emmmayai Mn-
niee my Hm cancelledevomThis mn\va'I:l
usag.in main canceH:mcn(¢e AA
um-n.m;..m_
$"“"““".,.....n.um.s um required in wrhing nrvu =-mi!»
--E ..u...m Sucuen 542.»:
hudule/move la anmnnrvmiiry»P r 0
RECURRING
RENTAL
CONTRACT
This is a current example of our
recurring rental contract given
annually to our recurring rentals,
Contracts in 20 I9 included:
Beaches Activist Movement
Cloisters.Oceanwalk,Seaplace
HOA's
OMI
REMChurch
Seaside Playgar n
Serenity Friday &Sunday
Agenda Item #10.C.27 Sep 2021Page 222 of 223
(HIST BENEFITMIAIYSIS
40,000
35,000
30,000
25,000
20,000
15,000
|0.000
5,000
October 20 I8-September 2019
I Pro?t I Loss
-This data is based from pro?t and loss
from October 20|8-September 20 I9.
'The cost to run the centers is $30,000 —
includes maintaining the centers,
electricity,alarms,etc.
-The pro?t from the centers is $38,000 —
comes from renting out the centers.Agenda Item #10.C.27 Sep 2021Page 223 of 223