08-22-95 v AGENDA
CITY OF ATLANTIC BEACH CITY COMMISSION
FY 1995/96 BUDGET WORKSHOP
6:00 P.M. - 8:00 P.M.
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I . BUDGET MESSAGE-CITY MANAGER KIM D. LEINBACH
2. CITY OF ATLANTIC BEACH DEVELOPMENTAL HISTORY AND PROJECTIONS -
PLANNING AND ZONING DIRECTOR GEORGE WORLEY.
3. BUDGET OVERVIEW - FINANCE DIRECTOR ANN MEUSE
4. SUMMARY- DEPUTY CITY MANAGER JIM JARBOE
5. CITY COMMISSION BUDGETARY POLICY DISCUSSIONS.
6. ADJOURNMENT.
MINUTES OF THE ATLANTIC BEACH BUDGET WORKSHOP HELD IN COMMISSION
CHAMBERS AT 6:00 PM ON TUESDAY, AUGUST 22, 1995.
PRESENT: Lyman T. Fletcher, Mayor
Steven M. Rosenbloom, Commissioner
Suzanne Shaughnessy, Commissioner
J. Dezmond Waters, III, Commissioner
Robert G. Weiss, Commissioner
AND Kim D. Leinbach, City Manager
James R. Jarboe, Deputy City Manager
Ann Meuse, Finance Director
George Worley, City Planner
Maureen King, City Clerk, and
Other city staff members
The Mayor called the meeting to order and asked for a report on the recent flooding throughout
the city. Commissioner Weiss reported he had inspected the drainage throughout the city and
found that the area north of Fleet Landing was draining quite well. However, there seemed to be
a problem between City Hall and Fleet Landing. Also, the drainage in Aquatic Gardens and
Saratoga Circle was particularly bad. It was agreed that staff should work with Neptune Beach
and Jacksonville to make sure that the ditches which received Atlantic Beach storm water were
maintained.
1. Budget Message- City Manager Kini D. Leinbach
The City Manager indicated that many of the projects which had been identified as top goals by
the City Commission had either been completed or were under way. He gave a brief overview of
some of the major projects included in the budget.
2. City of Atlantic Beach developmental history and projections - Planning and Zoning
Director George Worley
Mr. Worley briefly reviewed the history and growth of Atlantic Beach. He indicated that while
the city's current population was estimated at approximately 12,500, due to the city's operation
of the Buccaneer district and mutual aid agreements for police and fire services, the city provided
services to more than 20,000 people. He indicated the City was economically strong with a stable
tax base and healthy commercial districts. He felt, however, that the growth at the Mayport
Naval Station would impact the city in areas of traffic, utilities, etc.
Budget overview - Finance Director Ann Meuse
Ms. Meuse distributed a handout which illustrated the accounting entities of state and local
Page Two
Minutes - August 22, 1995
government. She reviewed the various sources of revenue and explained the limitations on their
use. She also provided a summary of the city's outstanding indebtedness and responded to
questions regarding same.
Summary - Deputy City Manager Jim Jarboe
Mr. Jarboe indicated the City Manager had presented a budget which was balanced and which
addressed the objectives of the City commission. He highlighted areas of accomplishment and
indicated areas where he felt service could be improved.
City Commission budgetary policy discussions
Commissioner Weiss felt the city needed to address the matter of flooding and, if necessary, add
additional personnel for this purpose.
Commissioner Shaughnessy felt the financial advisor should be asked to advise the city on the
amount of money the city could responsibly borrow without extending the financing beyond the
useful life of the projects.
Ann Meuse advised the financial advisors had been given such parameters and had indicated that
they would like to meet individually with each commissioner to review some of the options
available to the city.
There being no further discussion, the Mayor declared the meeting adjourned at 8:00 pm.
Maureen King
City Clerk
ACCOUNTING ENTITIES OF STATE AND LOCAL GOVERNMENT
The General Government Accounting Entities
Convention Develop.
Local Option Gas Tax Debt Service Funds City Manager i
CDBC
Finance
'
Police GrantCapital Project Funds Public Works Admir.
Fleet Maintenance
�, Special Revenue Funds Internal Service Funds /
The General Fund En er.rise F nds
GOVERNMENTAL PROPRIETARY ••
A FUNDS FUNDS Water
City Commission Sewer
Legal -, A'.Mw,.
Sanitation
Planning &Zoning ....... • •.... • • " " ' - " ' '" Stormwater
Code Enforcement
Building General Long Term Debt Trust and Agency Fund
City Clerk
General Government General Fixed Assets 1 Pension Trust Fund '
Police •
Fire NON FUND
Streets & Roads ACCOUNT GROUPS FIDUCIARY FUNDS
Beautification
Parks & Recreation
WI a~.r
CITY OF ATLANTIC I)E.ACH, FLORIDA
Summalry of Outstand ng Indebtedness
$1,400,000 $2,160,000
General Obligation Florida Municipal Gulf Breeze Gulf Breeze
Revenue Bonds, Loan Council Bonds, Governmental Governmental Water&Sewer
Series 1971 Series 1985 Note 1 Note 2 Bank Loan
Par Outstanding $37,000 $732,877 $415,000 $1,920,000 $5,500,000/
$10,000,000*
Interest Rate 5.75% 3.5665% 6.70%-6.85% 6.70%-7.70% 5.35%
Variable
Final Maturity 1995 December 1, 1995 December 1, 1996 December 1,2013 July 1,2008
(Balloon Payment) (Quarterly)
Maximum Annual $39,127 $193,482/ $229,727.50 $197,137.50 $743,388/
Debt Service(MADS) $652,135 $1,358,890* —
Security Ad Valorem Taxes Half-Cent Local Option Gas Taxes Utility Service Taxes Net Revenues of the
Sales Tax (Sr.)and Utility Service (Senior Lien) Water and Sewer
Taxes(Jr.) Systems
Actual Revenues used Ad Valorem Taxes Half-Cent Local Option Gas Tax Local Option Gas Tax Net Water& Sewer
to pay Debt Service Sales Tax &Water&Sewer Revenues
Revenues
Additional Bonds Test None N/A No Additional Bonds 1.50x after Note 1 1.20x
paid off
* The City currently has outstanding$5.5 million with Maximum Annual Debt Service of approximately S743,388 in 1997. However,the City is expected to issue up to the total authorized amount of
S10 million. The Maximum Annual Debt Service on a S10 million loan will be approximately$1,358,890.
N/A-Not Available
2
First I Inion Capital Markets Corp.