Item 6A
RESOLUTION 04-10
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,
FLORIDA, ADOPTING BUDGET POLICIES, AND
PROVIDING AN EFFECTIVE DATE.
AGENDA ITEM #6A
SEPTEMBER 13, 2004
WHEREAS, the City of Atlantic Beach would like to formalize the budget
policies used in the development and adoption of the Annual Operating Budget, and
~,. WHEREAS, the City of Atlantic Beach uses these budget policies to explain
what is included in the budget, its relationship with other documents, and the process of
how the document is created, and
WHEREAS, the City of Atlantic Beach uses these budget policies to include a
description of the basis for allocations, restrictions and projections of budgeted funds,
NOW THEREFORE, be it resolved by the City Commission of the City of
Atlantic Beach as follows:
Section 1. The budget policy highlights attached hereto, are hereby adopted
and will be used, as the general guidelines and the annual budget will be adopted in
accordance with the budget policies referenced herein.
Section 2. This Resolution shall take effect immediately upon its final
passage and adoption.
Attest:
PASSED by the City Commission of Atlantic
day of September 2004.
Jim Hanson
Interim City Clerk
Beach, Florida, this
John S. Meserve
Mayor /Presiding Officer
Approved as to form and correctness:
Alan C. Jensen, Esquire
City Attorney
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AGENDA ITEM #6A
SEPTEMBER 13, 2004
Budget Policy Highlights
The City Manager will propose to the City Commission a budget that is in accordance with the
following guidelines.
• The City Manager will hold strategic planning sessions at the beginning of each budget
preparation cycle.
• The proposed budget will include appropriations sufficient to deliver at least the current
level of service for all programs.
• Proposed changes to levels of service will be addressed as separate issues in the budget
workshops for consideration.
• The proposed budget will be presented using the current ad valorem tax rate.
• The proposed budget will be balanced, meaning that available resources plus projected
revenues will equal the budgeted expenses plus projected ending cash.
• The projected ending cash balance will exceed all legal required restrictions plus meet or
exceed the City Commission designated 25% operating reserve for all major funds.
• The reserve balance is calculated as 25% of the sum of payroll expenses and operating
expenses of the budget being proposed. Debt service has its own reserve requirement.
• The proposed budget will include funding for all authorized positions.
• The proposed budget will include the 3% across the board merit increase per City
Commission adopted resolution.
• The proposed budget document will include aten-year financial projection of the major
operating funds.
• The proposed budget will fully fund the pension benefit using the dollar amount
~, designated by the respective pension plan's actuaries for both police and general
employees.
• All future changes to the pension plan benefits will be evaluated for the long-term impact
on the City before that change is implemented.
• Capital items will be included in the proposed budget if either previously designated by
the City Commission or if identified in an adopted plan. Basic items necessary to deliver
the service level proposed will also be included. Discretionary capital items will be
~" included in workshop discussions for prioritization and funding.
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