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6-13-16 Agenda PacketCITY OF ATLANTIC BEACH CITY COMMISSION MEETING June 13, 2016 -6:30 PM AGENDA Invocation and pledge to the flag Call to order 1. A. Approve the minutes of the Commission Meeting ofMay 23,2016. 2. Courtesy of Floor to Visitors A. Presentation of check to Beaches Resource Center Foundation. 3. Unfinished Business from Previous Meetings A. Waiver Request #16-SAFW-97 (535 Atlantic Boulevard) 4. 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. A. Acknowledge receipt of the Monthly Financial Report for April 2016 and Public Works Status Report for June 2016. B. Designate Mayor Mitchell E. Reeves as the Voting Delegate for the 90th Annual FLC Conference in Hollywood, Florida on August 18-20, 2016. 5. Committee Reports A. Appointments to the Cultural Arts and Recreation Advisory Committee. (Commissioner Stinson) B. Actuarial Valuation Report for General Employees' Retirement System. (City Manager) C. Actuarial Valuation Report for Police Officers' Retirement System. (City Manager) 6. Action on Resolutions None. 7. Action on Ordinances A. ORDINANCE NO. 20-16-138, Introduction and First Reading AN ORDINANCE AMENDING THE OPERATING BUDGET FOR THE CITY OF ATLANTIC BEACH, FLORIDA FOR FISCAL YEAR BEGINNING OCTOBER 1, 2015 AND ENDING SEPTEMBER 30,2016, AND PROVIDING AN EFFECTIVE DATE. 8. Miscellaneous Business (Discussion only) A. Interlocal Agreement for Use of Property Tax Collections to Fund Exemption Audit Services among the Duval County Property Appraiser, Duval County Tax Collector, and the City of Atlantic Beach. (City Manager) B. Purchase of 54 East Coast Drive (City Manager) C. Review of Land Development Regulations (Commissioner Stinson) D. Real Estate Signs (Mayor Reeves) 1 9. City Manager A. 90-Day Calendar (June 2016 through August 2016). 10. Reports and/or requests from City Commissioners and City Attorney Adjournment Please Note: This meeting will be live-streamed and videotaped and can be accessed by clicking on the Commission Meeting Video tab located on the home page of the City's website 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 Chambers. 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, Florida Statutes, persons with disabilities needing special accommodation to participate in this meeting should contact the City Clerk by 5:00 PM, Friday, June 10, 2016. 2 MINUTES REGULAR CITY COMMISSION MEETING May 23,2016 CITY HALL, 800 SEMINOLE ROAD IN ATTENDANCE: Mayor Mitchell E. Reeves Commissioner Mitchell R. Harding Commissioner Jimmy Hill (arrived late) Commissioner M. Blythe Waters ABSENT: Commissioner John Stinson (excused) Invocation and pledge to the flag City Attorney Brenna Durden City Manager Nelson VanLiere City Clerk Donna L. Bmile AGENDA ITEM #lA JUNE 13, 2016 Commissioner Waters gave the Invocation, followed by the Pledge of Allegiance to the Flag. Call to Order: Mayor Reeves called the meeting to order at 6:34 p.m. City Clerk Bartle called the roll and Mayor Reeves noted that a quorum was present. He explained Commissioner Hill is coming back from Daytona and will be here in 20-30 minutes and Commissioner Stinson's absence was approved to go out of town on business. Mayor Reeves explained the process for public comments and repmied that he would be moving Item 8A from under Discussion to the Consent Agenda. Mayor Reeves explained that last week was Public Works Week and there was a great luncheon to honor them. He called on Public Works Director Don Jacobovitz to read the proclamation that was presented at the luncheon. Mayor Reeves thanked Mr. Jacobovitz and the Public Works Department for their work. 1. A. Approve the minutes of the Commission Meeting of May 9, 2016. Mayor Reeves asked if there were any corrections to the above minutes. There were no corrections, so Mayor Reeves stated the minutes will stand as submitted. 2. Courtesy of the Floor to Visitors Mayor Reeves opened the Comiesy of the Floor to Visitors. City Clerk Bartle called each speaker to the podium. Nancy Whittington, 1861 Beachside Ct., requested that Item 3A be defened. She explained her objections to the project noting the citizens being affected by it heard about it for the first time at the Town Hall meeting on May 7, 2016 and the item should have gone to a workshop next. She stated the language in the agreement is very impmiant and asked for the deferral. Suzanne Barker, 1938 Beachside Ct., stated she was very disappointed with the outcome of the Gate Meeting on May 12, 2016 and stated her reasons. She believed there was no discussion or concern about the community and stated she wished it had been videotaped and held in the Commission Chamber so that the citizens could see how her Attorney was disrespected by several members of the Commission. May 23,2016 REGULAR COMMISSION MEETING AGENDA ITEM #1A JUNE 13, 2016 Page2 Susan Perry, 179 Pine St., spoke unfavorable about the final decision of the Gate hearing and stated that the Commission will be held accountable. Chris Jorgensen, 92 W. 3rd St., thanked the Commission, City Attorney and City Manager for the effort put fmih to appease a small resident group in opposition to a legitimate business, Gate Petroleum. He mentioned the need to review and update Ordinances. He thanked the Public Works Depmiment for their work and thanked Commissioner Harding for bringing up shade on the end of the pier. He also stated he believes the parking issue has been resolved. Mayor Reeves recognized fmmer Mayor Mike Borno and fmmer Commissioner Maria Mark in the audience. (Commissioner Hill anived at 6:56p.m.) Maria Mark, 1148 Linkside Dr, stated she would hold her comments until the next meeting when all the Commissioners would be present. E. K. Cottrell, 1656 Park Terrace East, President of the Friends of Atlantic Beach Elementary, thanked the Commissioners and staff who attended the Public workshop and believed they should be commended for allowing the opportunity for citizen input. He urged the City to move forward with the Safe Routes to School project explaining that the Memorandum of Agreement does not solidify one pmiicular plan, but it is an impmiant step in moving forwmd and knowing the project is moving forward and if the City feels a workshop or other input from the community is wmihwhile from that point, they would fully support that. Mike Borno, 223 Ocean Forrest Dr N, addressed Item 3A, Safe Routes to Schools. He gave the history of the program and expressed reasons for his opposition to the project. He asked for the City to research it fmiher to see if it is wmTanted. Suzanne McMahon, 208 Belvedere St., thanked the Commission for allowing citizens to be heard. She refened to the future land use section of the Code as she explained her opposition to the Gate Station project. Steven Fouraker, 387 6th St, stated he missed the Gate Station meeting and wished it had been videotaped. He spoke in opposition of the Gate Station. He also spoke about the bike path noting that he left the Town Hall meeting with the impression that the Commission would be looking at other designs to see what else could be done before fmihering this particular plan. City Clerk Bartle read the name and comment from one citizen who did not want to speak, as follows: Lisa Herrold, 659 Sherry Dr., opposed the Safe Routes to Schools Memorandum of Agreement and asked that the item be moved to a workshop. No one else from the audience spoke so the Mayor closed the Comiesy of the Floor to visitors. Mayor Reeves explained that since the Gate hearing was 14 Yz hours, including breaks, it would be fair that the Commissioners give their comments at this time. Commissioner Hill stated he believes the Gate Gas Station issue is probably the most divisive thing the community has seen in a long time. He believed it is really impmiant that we as a community realize that we haven't moved past gasoline; we still use petroleum. He stated he wants to get into a greener environment May 23,2016 REGULAR COMMISSION MEETING AGENDA ITEM #1A JUNE 13, 2016 Page3 and get into a greener world. We haven't done it yet, but are moving towards it. In the meantime, we all drive cars and we all use fuel. Much more importantly, the thing that weighed most heavily on my decision to move it forward was, while a lot of crowd members spoke on both sides of the issue, no one from the crowd brought compelling evidence that made me change my mind. What drove my decision was that all three parties had excellent evidence and all three pmiies in the dispute that actually weighed in officially had a pretty lengthy oppmiunity to give their position. He explained that property owners hold a tremendous amount of leverage to do what you want within the Codes. He stated he would be beating the bandwagon to modify our Code, but the way it sits today, this Commission had vi1iually no choice nor were they really, other than the community not suppmiing it, able to make a big swing without leveraging or actually making the City liable. He believed the Diner is impmiant but the Diner was able to maintain an opportunity to stay in business from our action and it's an iconic business that was not shoved to the curb which could have easily happened. He believes that Gate will try to build a gas station that suits our community as well as any gas station can, but knows that people will not be happy with any gas station. He explained his interest in changing the Codes. He explained there were a lot of citizens that spoke in opposition and also in suppmi and doesn't believe there was much credibility into the large crown that wasn't resident-driven. He stated, although it was heard and understood, it did not sway anybody's vote. He thanked the Mayor for the opportunity. He further explained it was a long process and a very stressful process because a lot was weighing on it; a lot of people's lives were affected by it. He stated he believes they made the best decision they could and did not have a lot of other options. Commissioner Waters stated it was an emotional and divisive issue in the community and one ofthe things we heard tonight was the emotion coming out of the side that did not get what they wanted to happen to happen. While that emotion is celiainly understandable, I think making personal attacks and making derogatory statements don't help the community moving forward. We are tasked as elected officials to make a decision that is balanced and takes into consideration every aspect of our community and to meet the best decision with the information and the materials that we have. I think we worked really hard to listen to everyone and while there is a lot of desire to have a different outcome, our Code unfmiunately is fairly clear in what it allows and while we can look back to a more intense restriction in a different land designation code, the bottom line is that the Gate station lies in CG and is controlled by the Code for CG, not the Code for CL. Again, we made the best decision we could, not because we weren't listening to both sides; not that we didn't hear both sides; not that we didn't hear concems. I may not think that we need another gas station either, that doesn't dictate whether or not a commercial enterprise sees the ability to make a good business decision in putting a gas station there for them. Our Code is the law that we live by and I understand that attaching to certain pmis of it makes people feel like we could have made a different decision. Unfmiunately, I think the fact that it was unanimous showed that we really did feel that the Code suppmied the staff's decision in approving the Gate gas station and I think that shows level headedness and consideration of the facts. We tried really hard to hear people, but to make decisions based on the facts and I think we did that. Commissioner Hm·ding concuned with the other statements made by Commissioners Hill and Waters, but believed that he should comment since there was a specific insinuation pertaining to not paying attention and having something better to do. He stated that as of today, I haven't leamed how to write, take notes or type without looking at the paper and if I'm taking notes, because it is impmiant what you're saying, that obviously I have to look at my paper to write it down. If there's a misunderstanding that someone thought that their comments were insignificant, then I apologize for that but I simply was trying to do the most thorough job that I know how to do. That leads into the decision that we had to make. He stated he listened to countless hours of opinions on both sides of the issue, in addition to the 15 hours of deliberations that we all sat through. Quite frankly put, I had a full understanding when I came into the meeting of what was contained in the huge notebook that I was given to read. He stated he was aware of the CL and CG zoning limitations and that he did not find any evidence in any of the testimony to suppmi that the City made an May23, 2016 REGULAR COMMISSION MEETING AGENDA ITEM #lA JUNE 13, 2016 Page 4 enor in issuing the permit. He agreed with Commissioner Hill that the Gate audience had no impact on him whatsoever on the task at hand which was to vote whether the City made an enor. He stated he simply did not see any evidence to the contrary. Mayor Reeves thanked the Commissioners for their explanations. He stated he wished the two people had stayed and listened to our side; we listened to them and it would have been nice if they would have stayed and listened and for the public to listen to our side. He explained it was not an easy decision to make. He had sleepless nights thinking about it. He reported that he had a voter come to him and say there are 500 voters sitting out there; you have to run a year and a half from now; it's going to go to circuit court either way; go with the voters; get them to vote for you; get back in office. He explained he was not elected to do that; he was elected to do what is right for the City; he made a dedication to himself that from day one all votes would be on the facts, the facts only and not the emotions. He stated this has been a tremendous emotional rollercoaster; it has separated friends and brought in new friends. He stated this Commission made a tough decision. For someone to stand up and say that this Commission did not take the time to take this seriously, he challenges that. He displayed and refened to the binders of information that the City provided prior to the hearing noting its content and explaining he had studied it all. He pointed out that the appellants provided nothing until the hearing. He explained how the appellants wanted them to listen to them about different Codes and seemed like they were speaking for the court reporter to be prepared. He explained that if it goes to Circuit Court, he will be on the right side for our City because that is his responsibility. He stated he is not scared of a corporation. I don't care if they sue us. It was not about the money. It was about the facts. He further stated, it was not about Beach Diner being left. That was never said. They were honoring their lease. He explained that in that hearing they allowed the attorneys to negotiate and took a recess to let them negotiate and come up with a settlement. He stated that comments were made that this Commission did not hear the residents or anyone else; that's not true. He explained that nine out of the ten changes that we got Gate to commit to where for the residents; it had nothing to do with Gate; nothing, it was all about the residents. He stated we were not allowed to stop the station from coming in. They had the rights. They had no variance. They asked for no variances. They asked for no exceptions. He explained we would have had a quasi hearing just like every other Commission did in the past that everybody was happy with, but instead we did a de novo. He explained that the de novo allowed the citizens to be involved, to look at new evidence, listen to testimony, listen to attorneys on both sides and make a decision. He stated they acted as a Community Development Board. He explained there were comments that were made that it should have been sent to the Community Development Board, but that would have been easy. He stated it would have been wrong to set that precedence. It's never been set before, ever. He explained the City gave the citizens the hearing that they wanted and he was listening for something that would change his mind, but the other lawyers did not give it. He reiterated that it was as if we were being prepared to go to Circuit Court. He believed we were fair to the citizens and that the whole city was represented. He agreed that the Commission needs to look at zoning again and reported that he asked the City Manager to add money to the budget for more legal fees and consultants to help us go through our ordinances so they can be conected. He explained he would be okay with no more filling stations, but you can't stop in the middle and change the rules. He explained how this Commission has taken the issue serious, has listened and will make a change. He explained he did not owe the citizens an apology for voting 5-0 noting that they did their best. He reported the budget will need readjusted to pay $30,000 to $40,000 for the hearing but believes it is wmth it because they gave the citizens the hearing that they wanted. He explained the money could have been put somewhere else for a park or something. He stated he hoped the Commission made the right call, but only time will tell. He stated that if the appellants appeal and the Circuit Comt rules in our favor, we were right. If the appellants don't appeal, maybe we were right. Maybe we will never know. He expressed they made the best call and it has been stressful. May 23,2016 REGULAR COMMISSION MEETING 3. Unfinished Business from Previous Meetings A Safe Routes to Schools Memorandum of Agreement with JT A. AGENDA ITEM #lA JUNE 13, 2016 PageS City Manager Nelson Van Liere explained the agreement facilitates the grant project moving forward and also outlines that the City would still have public meetings to discuss the project before going forward with the design to the final stage. He repmied on the three-hour meeting noting that he believed he heard most of the people were in favor of the project, but just wanted some individual tweaks to it. Public Works Director Don Jacobowitz repmied that he received an email on April 13th from the DOT concerning going forward with this. He explained they just wanted to reassure us that the action we are taking tonight is just to make the commitment to go forward, not a commitment to select any route over another route. He stated they reminded us that if we don't move forward at this point, then somebody else will. He explained that those dollars that are afforded to us to do this project are just for us to make improvements to make Safe Routes to Schools and if we don't do that, someone else in Duval County will. He stated they are giving us funds that will benefit our citizens and make the route safer no matter what route we select and we will be having a workshop after today. City Attorney Brenna Durden explained she has reviewed the entire package including the referenced email, drawings and specific language in the second whereas clause and believes the language is acceptable and does not tie us to a pmiicular project path. She stated that ultimately, if the City chooses to go forward, obviously the sidewalks will be along Sheny Drive and/or Seminole Road or both, but within that it could fluctuate. She explained that from that perspective she agrees with the DOT statement that the agreement would not tie us to a particular path. She further explained the designated budget noting that it is probably the most confining aspect of the project moving forward and if there is going to be a different path along Sheny Drive and Seminole Road in some respect, it would have to, in order to qualify and be consistent with the MOA, be within the original budget. Motion: Approve the Memorandum of Agreement with JTA and authorize the Mayor to sign the MOA. Moved by Hill, Seconded by Waters Commissioner Hill stated if we move forward with the motion, we should have a committee because it appears to be staff-driven and in a hurry. He expressed concerns about the valid potential for building a safe path on Sheny Drive because of the concrete poles and the limited space. He stated he believed there was a lot of opposition to the path, not just emotional but legitimate opposition and we need the community involved in getting it right. Commissioner Waters believed there was a consensus to move forward to utilize funding to improve sidewalks to school, not a consensus on a specific path. She agreed that a workshop is the next phase. She explained that several Commissions have established an interest in making sure that the City is navigable for families by foot and by bike to encourage that we have less car traffic headed to the parks, the beach, and to Town Center. She supported moving forward by approving to obtain the funds from JTA and holding workshops in order to get community involvement as to what the exact path should look like. Commissioner Harding stated he felt the workshops were promised and agreed upon to dete1mine the paths. He believes there should be consideration for existing sidewalks, repairs, and additional transit routes for bicycles and pedestrians. He stated that, if the purpose of the memorandum is to simply earmark the funds with no definitive route, he agrees we should move forward. May23, 2016 REGULAR COMMISSION MEETING AGENDA ITEM #lA JUNE 13, 2016 Page 6 Mayor Reeves stated this has been on the table since 2012 and no Commission has voted on it. He believed that no one is against safety for our children, but stated we need to work to make sure that the routes are right. He expressed his concerns and wanted assurance that signing this document tonight is only a next step, that there is a guarantee to have workshops, and that we are not committed meaning we can stop it at any time or change the routes. He stated he believes there are more people for it than against it and that people don't fully understand it. He reported on his meeting with JTA and explained that our grant writer is here to give her feedback. Lisa King, Senior Vice President of Langton Consulting, 9158 HeclGcher Dr. Jacksonville, explained there is very limited funding available for sidewalks and cautioned the Commission that it may be a great while before the City would have the opp01tunity to receive it again. She explained the grant noting that it is a great opportunity but she also agreed that the comments being expressed about the decision makers not having input into whether this is something they want to pursue at all this late in the stage is a significant conce1n. Ms. Durden asked the Public Works Director to comment on the timeframe. Mr. Jacobovitz stated the DOT was expecting the project to start as early as next July and dedicate the funds as soon as possible. She stated she does not believe we are tied to a very specific path; however, that doesn't mean we have $680,000 just to use on a path willy-nilly. She explained it has to be used for Safe Routes for Schools, and that based upon the location of the school, it will end up being on Seminole and Sheny or somewhere within that area. She further explained that if the Commission approves it now and decides later that they don't want to go forward, then there is the risk that the City could be responsible for the dollars that have been spent. Commissioner Hill expressed his reasons for not having concems in moving the item forward. He believes it needs to be branded so that the Community understands we intend to connect the City in a way that makes Atlantic Beach much more useable and help everyone understand what we are doing. He stated that after listening to the expert advice of the grant writer, he is more convinced that he absolutely does not want to be inesponsible with taxpayer money in anyway and build a bike path across the street from a bike path. Commissioner Waters stated one of the things that has been mentioned, looking at east west paths, is that there is access to Atlantic Beach Elementary from Seaspray A venue. She explained the request from several people to have a scatter plot made to show the density of students that would use the path, and to use the data to help with the project. She explained that the Safe Routes to School is a grant to do part of a larger walkability, bikeability project in the City that has been going on for multiple Commissions. She believed it would be nice to have a scatter plot available for the workshop so that we'd know where the intensity is. Commissioner Harding agreed with Commissioner Waters and believes the request for east west routes should be considered at the workshop. Mayor Reeves expressed feeling comfortable now with the project after hearing the City Attorney's comments. Roll Call Votes: Aye: 4 -Hill, Waters, Harding, Reeves Nay: 0 MOTION CARRIED AGENDA ITEM #1A JUNE 13, 2016 May23, 2016 REGULAR COMMISSION MEETING Page 7 4. 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. A. Acknowledge receipt ofthe Recreation Programs and Special Events Repmi for April2016. B. Award the contract for Combined Beaches Outfall Repair (Bid No. 1516-09) to J.D. Hinson in the amount of $532,763.52. City Clerk Bartle read the Consent Agenda. Mayor Reeves stated he would like to pull item 4B for discussion. Mr. Jacobovitz explained his staff report. Motion: Approve Consent Agenda as read. Moved by Waters, Seconded by Harding Commissioner Hill asked what is driving the need for this. Mr. Jacobovitz explained that the outfall we have is insufficient at this point and has heard that we've had environmental concerns with it and needs to be replaced. Mr. Van Liere answered questions about the location of the outfall. Commissioner Hill asked staff to look into whether or not the dredging would affect the outfall project and if so find out if the Almy Corp would help us carry the cost because it is a huge amount. Mr. Jacobovitz agreed to talk to them about it. Mayor Reeves asked how the percentage is calculated for the cities. Mr. Jacobovitz explained it is based on the percentage of use of the effluent pipe. Mayor Reeves asked if the other cities have voted to approve it. Mr. Jacobovitz answered he does not believe they voted, but he has spoken to the Public Works Directors from the other cities and they believe they have a commitment. Roll Call Votes: Aye: 4 -Waters, Harding, Hill, Reeves Nay: 0 MOTION CARRIED 5. Committee Reports None. 6. Action on Resolutions A. RESOLUTION NO. 16-03 A RESOLUTION OF THE CITY OF ATLANTIC BEACH, FLORIDA, AUTHORIZING THE FUNDING ALLOCATION FOR DIVISION OF CULTURAL AFFAIRS CULTURAL FACILITIES GRANT PROGRAM. City Clerk Bartle read the Resolution by title. May 23,2016 REGULAR COMMISSION MEETING AGENDA ITEM #IA JUNE 13, 2016 Page 8 City Manager explained the ordinance stating this goes along with the grant authorization for the grant application that was done at the last meeting. Melissa Beaudry, 532 Lancaster St., Jacksonville, FL representing Langton Consulting and Lisa King, Senior Vice President of Langton Consulting, 9158 Heckscher Dr. Jacksonville, explained the report they submitted to the City Manager. Ms. Beaud1y also reported they will be contacting the Dial-A-Ride program to see if there is an oppmiunity to apply for grant funding to help. Mayor Reeves asked for an update on the Bennett property. Ms. King repmied the project ranked 16th out of 42. She stated they had funding for the first 15 projects, but it is possible that one of those projects ahead of us could fall out. If that happens, our project would move up. Motion: Approve Resolution No. 16-03 as read. Moved by Waters, Seconded by Hill Roll Call Votes: Aye: 4-Harding, Hill, Water, Reeves Order Nay: 0 MOTION CARRIED 7. Action on Ordinances A. ORDINANCE NO. 45-16-22, Public Hearing and Final Reading AN ORDINANCE OF THE CITY OF ATLANTIC BEACH, FLORIDA, AMENDING THE FOLLOWING CHAPTERS AS NOTATED AND TO READ CITY MANAGER OR DESIGNEE WHERE PREVIOUSLY NOTATED CITY CLERK: CHAPTER 18, SOLICITATIONS; 18-2 PERMIT, REGISTRATIONS AND FINGERPRINTING REQUIRED; SECTION 18-3, FEES; SECTION 18-4, REGULATIONS AND PROHIBITIONS; SECTION 18-6, INSPECTION OF BOOKS AND RECORDS; SECTION 18-7, REVOCATION; SECTION 18-8, EXCEPTIONS AND CHAPTER 20, TAXATION; ARTICLE III, LOCAL BUSINESS TAX; SECTION 20-53, HALF YEAR RECEIPTS; AND SECTION 20-54, DUE DATES AND DELINQUENCIES; PENALTIES AND DELETING THE REQUIREMENT THAT THE CITY CLERK SHALL DISCONNECT WATER SERVICE FOR NON PAYMENT; AND SECTION 20-56, COMPLIANCE BY RECEIPT HOLDERS; PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE. City Clerk Bmile read the Ordinance by title. City Manager Van Liere explained the Ordinance. Mayor Reeves opened the Public Hearing. No one in the audience spoke, so Mayor Reeves closed the public hearing. Motion: Adopt Ordinance No. 45-16-22 as read. Moved by Waters, Seconded by Harding There was no discussion. Roll Call Votes: Aye: -Hill, Waters, Harding, Reeves Nay: 0 MOTION CARRIED May23, 2016 REGULAR COMMISSION MEETING 8. Miscellaneous Business (Discussion only) A. Combined Beaches Outfall Repair-City Bid No. 1516-09. This item was moved to the Consent Agenda and acted on earlier in the meeting. B. Impervious Surface Area Audit. AGENDA ITEM #1A JUNE 13, 2016 Page 9 Mr. Jacobovitz explained his staff report. Commissioner Waters stated she believes one of the things this represents is that it is a change in impervious surface. At one time, the impervious service allowance in Atlantic Beach was 35%. She believed that what people are seeing is these homes are huge. They take up so much of the lot. There is a lot of objection. People look at them and say there is no way that isn't taking up more than 50% because when it was approved nobody knew what 50% looked like. She stated she thinks a lot of the objection has been to the fact that now that they can see what 50% looks like, it looks to be too much. She explained one of the reasons they requested the audit was to see if we are granting too many variances. She believes the answer is no; we are not granting variances. She expressed concern that so many of the new houses being built in Atlantic Beach are covering too much of the surface of the lot. Mr. Jacobovitz answered questions about what counts as impervious surface. She believes there have been changes in the Code and that the question is do we need to revisit the Code on this specifically before revisiting the Code as a whole. Commissioner Hill stated every community is wrestling with this exact same issue. He explained how technology has advanced noting it could help solve some of our percolation issues and help collect some of our rainwater back into the ground where it belongs. He would much rather see the City mandate that than mandate swales. He explained the disadvantage of swales. He reiterated that he would like to see less swales and more surface that will actually take the water on the lot. Mayor Reeves explained he was going to pull this item off the agenda tonight and move it to the next meeting since Commissioner Stinson was the one that requested it along with Mike Borno, but Commissioner Stinson is watching tonight on vacation. He stated that if Commissioner Stinson has questions, we will allow him to ask them when he comes back. 9. City Manager A. City Manager's Report. • 90-Day Calendar (June 2016 through August 2016). Mr. Van Liere repmied that the Mayport Conidor Redevelopment Open House will be held in the Commission Chamber on Wednesday, May 25, 2016 from 6:00pm to 8:00pm and citizens are welcome to share their input and ideas. He repmied that the City Attorney has given notification that we've exceeded the $7,000 for the month through May 20th; $22,000 of that was for the Gate hearing as of that date and about $8,000 for other things unrelated to Gate. He also reported that the Public Works depmiment has regularly scheduled meetings on the Shore Preservation project. They sent out some infmmation about the upcoming project. The bids are due back for the job on May 2ih. They plan to award it on June 1 ih and give notice to proceed on July ih which is when the dredging operation would commence. He refened to the 90-day calendar and explained the Town Hall meeting is set for Saturday, July 16th at 10:00 am in the Commission Chamber. Commissioner Hill asked about the location of the dredging. Mr. Van Liere explained it would be about 8 or 9 miles offshore. It was the consensus of the Commission to accept the 90-day calendar as submitted. May23, 2016 REGULAR COMMISSION MEETING 10. Reports and/or requests from City Commissioners and City Attorney Mayor Reeves welcomed City Clerk, Donna Bartle, back from her vacation. Commissioner Harding AGENDA ITEM #lA JUNE 13, 2016 Page 10 • Commended Chief Deal and his staff for the successful policing strategies for the Darrein' in the Streets that just occurred. He received no news of any serious incidents. He was there for a short time and believed everyone enjoyed it. • Attended the Citizens Police Academy Graduation on Thursday, May 191h and congratulated the Chief and his staff for putting in countless hours to foster a better understanding of our law enforcement and how they operate and for improving communications which is very impmiant. • Reported he is looking forward to attending the Employee Picnic on Thursday, May 26 and will be one of the people manning the grills. • Reminded everyone that the Florida League of Cities meeting is being held at the Atlantic Beach Country Club on Thursday night and asked for a maximum turnout from Atlantic Beach staff. Commissioner Hill • Apologized for his tardiness this evening explaining he got caught up in traffic and did not mean to burden the Board. He thanked them for accommodating him and stated he will watch the video to see what he missed. Commissioner Waters • Congratulated Town Center Agency for 30 years ofDancin' in the Streets. • Congratulated the Jacksonville Public Library for completing their renovations and for their 30-year anniversary this week. • Thanked Chief Deal and the Atlantic Beach Police Department for their work at Darrein' in the Streets. • Stated we did not get elected to get reelected. We did get elected to serve the people and to do what we deem to be in the best interest of City. Mayor Reeves • Mayor Reeves asked Chief Deal to speak on the progress of the ABPD move. Chief Deal repmied that most of the department has vacated and moved into 902 Assisi Lane, but Property and Evidence, Records, and Patrol personnel are still working out of the Police building. He explained he is still there also and will be the last one to leave the facility. He fmiher explained the progress of the move. • Congratulated Chief Deal for his great job this weekend. • Asked Mr. Jacobovitz to explain what is being done on Dutton Road towards the park. Mr. Jacobovitz explained they are clearing out vegetation on the side of the road to put in a path leading to the park. • Asked Mr. Jacobovitz to explain the relief on Seminole Road and when it will be completed. Mr. Jacobovitz explained it should be done by the end of this week. • Asked Mr. Jacobovitz to repmi on Francis Street. Mr. Jacobovitz repmied that the project is not behind, but the money that we get from the CDBG program is expected to be expended already. He explained there hasn't been enough progress for the grant providers in Jacksonville to be happy about, but we are making progress with the contractor. May 23, 20I6 REGULAR COMMISSION MEETING AGENDA ITEM #lA JUNE 13, 2016 Page II • Reminded everyone that the Florida League of Cities meeting is being held at the Atlantic Beach Country Club on Thursday night. • Reported he attended the event at the library on Saturday stating a lot of people were there and it was a lot of fun. • Reported that Dancin' in the Streets was fun and Patsy Bishop was presented with a proclamation. He thanked Chief Deal for his great work. • Reported that Downtown is having an issue with their pension and it's going out to a vote and it does affect us at the beaches. He explained what he and the City Manager is doing as an altemative for funding. • Reiterated that he asked the City Manager to put funds in next year's budget to really evaluate the Zoning Codes. He encouraged the Commissioners to share any concems they have about the budget with the City Manager. • Thanked everyone for allowing the extra time for comments and believed it was important to have the Commission respond. Adjournment There being no further discussion, Mayor Reeves declared the meeting adjoumed at 8:26p.m. ATTEST: Donna L. Bartle, CMC City Clerk Mitchell E. Reeves Mayor/Presiding Officer AGENDA ITEM: SUBM ITIED BY: DATE: BACKGROUND: CITY OF ATLANTIC BEACH CITY COMMISSION MEETING STAFF REPORT Contribution to Beaches Resource Center Foundation Timmy Johnson, Recreation Dlrectp ~ May 26,2016 AGENDA LTEM #2A JUNE 13,2016 The Recreation Department received a letter requesting $2,000 to support the Beaches Reso urce Center Foundation. The funds for this request was approved by the City Commission during the budget process and placed in the Cultural Arts and Recreation Advisory Committee budget. The city has supported the Beaches Resource Center Foundation for over five years. The Pres i dent of the Beaches Resource Center Foundation is Samantha DeCarlo. The Center provides educational, psychological, health a nd socia l services that help Beaches youth overcome challenges that impede their success in school and daily life, helping to remove obstacles to learning, allowing students to reach their potential in the classroom and elsewhere. Services are available at no cost to stude nts living at the beach . BUDGET: Funds for this request was approved during the budget process. ATTACHMENTS : Request letter from Beaches Resource Center Foundation RECOMMENDATION: Present Samantha DeCarlo with a check in support of the Beaches Resource Center Foundation . REVIEWED BY CITY MANAGER: _--?/~~.,.::;._~=a....,="--'~=-:....=~:;.=.. ______ _ Mr. Timmy Johnson l)eaches 1\esource Center foundation 700 5eagate Avenu e Neptune 5cach, f lorida )2266 May 19, 2016 Department of Recreatton Programs & Special Events City of Atlantic Beach 716 Ocea n Blvd . Atlantic Beach, FL 32233 Dear Timmy, AG E NDA lTEM #2A J UNE 13, 2016 I am writing this letter to request that the $2,000.00 approved by the Atlantic Beach City Commission for the Beaches Resource Center for the 2015-2016 fiscal year be sent to the "Beaches Resource Center Foundation" at the address indicated above. As you know, this money will be used to enhance our abil ity to serve families and children living in Atlantic Beach. The Beaches Resource Center (BRC), a Full Service School of Jacksonville site , plays a key role in the Beaches community by providing educational, psychological, health and social services that help Beaches youth overcome challenges that impede their success in school and daily life, helping to remove obstacles to learning , allowing students to reach their potential in the classroom and elsewhere. Services are available at no cost to all students living at the beach regardless of whether they attend public or private schools. The BRC Foundation is a 501 (c)(3) organization dedicated to improving the lives of beaches school age youth by funding services and programs designed to help them succeed in school and daily life . The Foundation is dedicated to bringing even more children's services to the Beaches area, delivered by the Beaches Resource Center. Be assured the City of Atlantic Beach's contribution will be an invaluable investment in the future of the many young lives that are improved by Foundation-funded services. The Foundation appreciates and thanks the City of Atlantic Beach for their continued support of Beaches Resource Center. Sincerely, Sa mantha DeCarlo, MSW Pr es id ent, Beaches Resource Center Foundation cc: Gale Leas, Treasurer, Beaches Resource Center Foundation Laura Acker, Coordinator, Beaches Resource Center AGENDA ITEM: SUBMITTED BY: DATE: CITY OF ATLANTIC BEACH CITY COMMISSJON MEETING STAFF REPORT Waiver # 16-SAFW -97 Jeremy Hub sch, Bui lding and Zon ing Director JuJle2,2016 STRATEGIC PLAN LINK: None AGENDA ITEM ##JA JUNE 13,2016 BACKGROUND: The City of Atlantic Beach is initiating a waiver re que st at 535 Atlantic Boulevard as the re sult of conditions agreed upon by the applicant (Gate Petro leum) of Prelim inary Site Development Pl a n, 15-CVPR -241 1 during an ap pe a l o n May 12, 2016. Outing the ap pe a l process, an app ellant (Beach Diner) alleged th at the app lican t wa s not providing su ffi cient parking. Gate agreed to provid e 30 spaces for the re staurant, which is more than required by City Co de. How ever, in order to provid e th e additiona l parking, Gate needs relief from other code stand ard s. At t he appea l hearing, the City Commi ssion approved a final order requiring that the City initi a te waiver applica ti ons to all ow an in crease in imp ervious surface from 70% up to a max imum of78% and to eliminate tenn inal tree islands fr o m four locat ion s on sit e. The specific cod e provisions tha t req uire wa ivers arc Sections 24-111 (g) (1) a nd 24~177 (c) (4). Sec tion 24-111 (g) (1) has a ma ximum a ll owa nce of 70% impervious s urface coverage. The applicants need additiona l impervi ous surface coverage in ord er to provide additional parking for Beach Diner. They are seeking a max imum of up to 75% impervi ous surface cove rage on sit e, which is 3% less th an allowed by the o rder. The other prov ision needing a waiver is Section 24-177 (c) (4) of the landsca pe code. Thi s code provision requires a landsca pe is land at the end of parking rows . ln order to provide more parking for the Beach Din e r, the applicant is seekin g a redu ct ion from this standa rd. It is worth noting th at Section 24- 177 (c) (5) states, "If it can be shown to the sat isfacti on of th e co mmun ity development d irecto r th at the strict applicati o n of this secti o n will serious ly li mit the use of the property, th e com munit y development director may a pprove th e loca tio n of t he required interi or landscape area near the pe ri meter of th e VUA o r adj ace nt to the bui lding on the prop erty, so lon g as th e land scape area is wit llin twenty (20) feet of th e perimeter of the VUA" The ap plicants are prov iding s ub sta ntially more land sca ping through out the site, partic ul arl y around the petimeter of the site. Based on this, it i s quite possib le that a waiver may not even be need ed for the land sca pe island s. However, in an abund ance of ca uti on, the C ity i s still ini tia ting the wai ver ba sed on th e final order o fthc May 12'11 app eal. BUDGET: NoM. RECOMMENDATION: To hold a Public Hearing on June 2 7, 20 16 to Approve W aiver #16-SAFW -97 ATTACHMENTS: Waiver Application, 15-C VPR-2 411 Appeal Orde r REVIEWED BY CITY MANAGER: · --pfr v~ ;/u-u- Copies furnished to: T.R. Hainline, Esq. Emily G. Pierce, Esq. Rogers Towers, P.A. 1301 Riverplace Blvd., Suite 1500 Jacksonville, FL 32207 Jane West, Esq. 6277 AlAS., Suite 101 St. Augustine, FL 32080 Jeff Sneed, Esq. 599 Atlantic Blvd., Suite 6 Atlantic Beach, FL 32233 Paul Eakin, Esq. 599 Atlantic Blvd., Suite 6 Atlantic Beach, FL 32233 4 AGENDA ITEM #3A JUNE 13,2016 City of Atlantic Beach FINANCIAL REPORT April 2016 AGENDA ITEM #4A JUNE 13, 2016 Cash Balances Prior Current Dollar Percent Fund(s) 03/31/16 04/30/16 Change Change General $ 9,401,973 $ 8,885,074 $ (516,899) -5.50% Tree Replacement 26,470 26,470 0.00% Convention Development Tax 115,189 107,556 (7,634) -6.63% Local Option Gas Tax 304,626 326,658 22,033 7.23% Better Jax 1/2 Cent Sales Tax 517,420 606,550 89,129 17.23% Police Training, Forfeiture, Grants, etc. 108,510 129,555 21,044 19.39% Capital Projects 3,034,812 3,088,792 53,980 1.78% Utility 6,304,748 6,363,165 58,417 0.93% Sanitation 453,015 461,474 8,458 1.87% Building Code Enforcement 453,809 458,231 4,423 0.97% Storm Water 1,748,783 1,760,847 12,064 0.69% Pension -Police 138,831 143,312 4,481 0.00% Pension -General 55,589 67,965 12,376 22.26% Total $ 22,663,776 $ 22,425,649 $ (238,128) -1.05% Total Restricted Cash 7,197,246 Total Unrestricted Cash $15,228,402 Cash and Investments Prior Current Dollar Percent Account 03/31/16 04/30/16 Change Change Bank of America -Depository $ 6,820,113 $ 6,521,310 $ (298,803) -4.38% Delaware Limited-Term Diversified Inc A 2,516,890 2,523,445 6,555 0.26% Global X Gold Explorers ETF 4,161,309 4,188,064 26,755 0.64% lnvesco Floating Rate A 720,477 737,571 17,094 2.37% Voya Short Term Bond Fund Class A 4,179,734 4,189,925 10,191 0.24% MSSB Money MarkeUCash 4,239,245 4,239,314 69 0.00% SBA-Florida Prime 22,858 22,869 11 0.05% Cash on Hand 3,150 3,150 0.00% Subtotal $ 22,663,776 $ 22,425,649 $ (238,128) -1.05% Police Pension Investments $ 8,856,909 $ 8,918,469 $ 61,560 0.70% General Pension Investments 15,610,046 15,620,319 10,273 0.07% Subtotal $ 24,466,955 $ 24,538,788 $ 71,833 0.29% Total $ 47,130,730 $ 46,964,436 $ (166,295) -0.35% City of Atlantic Beach FINANCIAL REPORT AGENDA ITEM #4A April 2016 JUNE 13, 2016 Revenues Annual YTD YTD Dollar Fund I (Footnote) Estimate Estimate Actual Variance General $ 11,762,799 $ 6,861,386 $ 8,488,133 $ Convention Development Tax 96,307 56,168 60,037 Local Option Gas Tax 461,611 269,269 268,902 Better Jax 1/2 Ct Sales Tax 790,128 460,901 453,396 Police Training, Forfeiture & Grants 89,150 55,724 41,221 Grants-CDBG 650,000 379,162 Capital Projects 855,000 498,736 494,798 Utility 8,335,711 4,862,403 4,997,991 Sanitation 1,840,330 1,073,513 1 '153,669 Building Code Enforcement 439,134 256,137 303,849 Storm Water Pension -Police Pension -General 875,708 510,825 547,169 1,530,544 892,808 918,660 2,336,217 1,362,788 1,530,858 Total $ 30,062,639 $ 17,539,820 $ 19,258,683 $ Analysis of Major Variances In general, the major variances are created when the actual funds received-to-date are different from the percentage of the budget elapsed-to-date. Highlighted variance explanations follow: General Fund revenues show a net positive variance of $1,626,747. Most of this variance is due to the timing of receipt of ad valorem taxes, the majority of which are received in December. 1,626,747 3,869 (367) {7,505) (14,503) (379, 162) {3,938) 135,588 80,156 47,712 36,344 25,852 168,070 1,718,863 Grant Funds reflected a negative variance of $379,162, Grant revenue is reimbursement based, revenue was billed in April and will be collected in May. Percent Variance 23.71% 6.89% -0.14% -1.63% -26.03% -100.00% -0.79% 2.79% 7.47% 18.63% 7.11% 2.90% 12.33% 9.80% AGENDA ITEM #4A JUNE 13, 2016 City of Atlantic Beach FINANCIAL REPORT April2016 Expenses Annual YTD YTD Dollar Percent Department Estimate Estimate Actual Variance Variance Governing Body $ 40,384 $ 23,534 $ 24,971 $ (1 ,437) -6.11% City Administration 2,418,498 1,484,056 1,416,733 67,323 4.54% General Government 5,115,740 3,173,485 670,833 2,502,652 78.86% Planning and Building 1,337,724 825,009 468,578 356,431 43.20% Public Safety 5,813,259 3,415,637 3,101,101 314,536 9.21% Recreation and Beautification 1,286,900 871,583 871,601 (18) 0.00% Public Works 5,368,085 3,231,417 2,308,051 923,366 28.57% Public Utilities 10,070,138 5,991,106 4,544,250 1,446,856 24.15% Pension -Police 621,607 362,565 350,229 12,336 3.40% Pension -General 986,941 575,694 853,202 (277,508) -48.20% Total $ 33,059,276 $ 19,954,086 $ 14,609,549 $ 5,344,537 26.78% Annual YTD YTD Dollar Percent Resource Allocation Estimate Estimate Actual Variance Variance Personnel Services $ 10,198,510 $ 5,930,812 $ 5,493,371 $ 437,441 7.38% Operating Expenses 11,089,341 6,687,459 5,417,182 1,270,277 18.99% Capital Outlay 8,159,330 5,228,829 1,043,411 4,185,418 80.05% Debt Service 1,964,401 1,145,872 1,683,485 (537,613) -46.92% Grants and Aids 36,820 21,469 32,420 (10,951) -51.01% Transfers 1,610,874 939,645 939,680 (35} 0.00% Total $ 33,059,276 $ 19,954,086 $ 14,609,549 $ 5,344,537 26.78% Analysis of Major Variances In general, the major variances are a result of timing differences created between the percentage of budget elapsed-to-date and actual expenditures. Highlighted variance explanations follow: General Government had a positive variance of $2,502,652. Most of the variance is the result of the Capital Project Fund -Public Safety Building, Francis Ave Drainage and Marsh Preserve Path projects-see Project Activity Schedule. Planning and Building had a positive variance of $356,431. Most of the variance is the result of the Francis Ave Drainage Improvement Project (CDBG Grant) -see Project Activity Schedule. Public Safety had a positive variance of $314,536. Majority of the variance consists of positive variances in Salaries, City of Jacksonville Fire Contract that is billed quarterly and Lifeguard Salaries that expense in the summer. Public Works had a positive variance of $923,366. Most of the variance is the result of project activity budgeted that has not been started/completed-see Project Activity Schedule. Public Utilities had a positive $1,446,856 variance for the period. Most of the variance is the result of project activity budgeted that has not been started/completed -see Project Activity Schedule Pension-General shows a negative $277,508 variance for the period. In October, a large payout of $207,381.11 was made to a former employee's beneficiary. Operating Expenses had a positive variance of $1,270,277. Various contractual services contribute to this balance. The largest contracts are the Fire Contract (COJ), Sanitation Contract, and Road Paving. Capital Outlay had a positive variance of $4,185,418. Most of the capital and project expenditures occur in the middle to latter part of the fiscal year -see Project Activity Schedule. Debt Service reflects a negative variance of $537,613; this was the result of the largest Public Utility debt service payment being made in October. City of Atlantic Beach FINANCIAL REPORT AGENDA ITEM #4A Apri12016 JUNE 13, 2016 Project Activity-Current Year Activity Only Project YTD YTD Project Name Number Budget Actual Encumbrances Balance Status General Government RUSSELL PK RENOVATION PM1501 $ 233,180 $ 55,588 $ 8,636 $ 168,956 I DONNER PK PLAYGRND LIGHTS PM1503 6,500 6,146 354 E BULL PK PLAYGRND EQUIPMT PM1504 35,000 5,300 (0) 29,700 I DUTION ISLE RD IMPROVMENT PM1505 25,000 7,386 17,234 380 E NEW POLICE BLDG-DES/CONST PS1501 3,026,667 69,881 64,086 2,892,700 SAL TAIR/STURDIVAN SIDEWLK PW1406 32,090 2,080 2 30,008 I SEMINOLE STREET SCAPE 1 PW1407 258,092 7,684 408 250,000 D MARSH PROJECT PED PATH PW1408 56,504 12,075 44,429 1 I BIKE RACKS & STREET LIGHT PW1501 6,789 6,789 I CH PARK LOT LIGHTS-LAST PW1504 9,554 9,554 (0) I TOWNCENTER IMPR DECK & BR PW1601 40,000 40,000 E VET PARK PLAYSET PW1602 40,000 40,000 E MARSH PRESERVE PATH PHZ-1 PW1603 540,000 820 427,340 111,840 Subtotal $ 4,309,376 $ 183,302 $ 562,135 $ 3,563,938 Planing, Zoning & Building FRANCIS AVE DRAINAGE IMPR PW1502 650,000 82,060 556,037 11,903 Subtotal $ 650,000 $ 82,060 $ 556,037 $ 11,903 Public Works: SEMINOLE STREET SCAPE 1 PW1407 $ 13,487 $ 12,807 $ 680 $ 0 D SAL TAIR DRAINAGE UPGRADE PW1411 61,707 4,000 (2) 57,709 I SE SEMINOLE RD DRAIN IMPR PW1412 650,000 650,000 D Subtotal $ 725,194 $ 16,807 $ 678 $ 707,709 Public Utilities: INLINE VALVE INSTALLATION PU1404 $ 16,355 $ 16,253 $ $ 102 D EFFLUENT OUTFALL REPLCMT PU1408 2,625 2,625 I WELL LOGGING-6 WELLS PU1501 130,000 130,000 s UPDATE MODELS PU1502 23,442 16,831 6,611 I EFF OUTFALL@ SHERMAN PT PU1504 320,000 64 319,936 I WETWLL LINE-MIM COVE LS PU1505 13,954 13,954 (0) I WETWELL LINE-FAIRWAY V LS PU1506 14,141 14,141 0 I NORTH FENCE REPLACE WTP2 PU1601 10,000 9,295 705 E SOFT STARTS -WTP 1, 2 &3 PU1602 48,000 552 (1) 47,449 A CHLORINE AUTO CONTROL VAL PU1603 31,000 356 23,441 7,202 A CONTROL BUBBLER SYSTEM PU1604 15,000 172 14,828 A REPLACE SEASPRAY H20 SERV PU1605 100,000 97,339 2,661 A ATLANTIC WATER MAIN REPLA PU1606 100,000 100,000 E SEWER SYSTEM REHAB SEAOAT PU1607 200,000 200,000 E CONTROL PANEL LIFT STA WW PU1608 19,000 218 13,853 4,929 A SOFTSTARTS LIFT ST. ABC&D PU1609 55,000 633 5,677 48,690 A 2 POINT REP. EFF GRAV ICW PU1610 30,000 30,000 E PHORPHOROUS TREATMENT FAG PU1611 225,000 17,658 7,174 200,167 I REPLACE DISKS KRUGER DISF PU1612 6,000 5,999 1 A INFLUENT SCREENS (2) PU1613 20,000 230 0 19,770 A REPLACE EFF PUMP #2 PU1614 50,000 575 0 49,425 A REPLACE RAS PUMP & MOTOR PU1615 50,000 575 49,425 A REPLAC INFLUENT PUMP WWTP PU1616 22,000 253 21,747 A SEMINOLE STREET SCAPE 1 PW1407 705,395 5,123 272 700,000 D Subtotal $ 2,206,912 $ 172,126 $ 87,747 $ 1,947,038 Total $ 7,891,482 $ 454,296 $ 1,206,597 $ 6,230,589 Status Key A -Bid/RFP Advertised I -Project In-progress B -Bid Awarded N -Complete/Non-Capital C -Project Completed R-Re-budget Next Fiscal Year OR Re-Evaluated D -Design Completed S -Staff Researching DE -Deferred X-Project Cancelled E -Design Phase 1-Seminole Road Street Scape Project totals $976,974 90th Annual Conference Florida League of Cities, Inc. August 18-20, 2016 Hollywood, Florida AGENDA ITEM #4B JUNE 13, 2016 It is important that each member municipality sending delegates to the Annual Conference of the Florida League of Cities, designate one of their officials to cast their votes at the Annual Business Session. League By-Laws requires that each municipality select one person to serve as the municipalities voting delegate. Municipalities do not need to adopt a resolution to designate a voting delegate. Please fill out this form and return it to the League office so that your voting delegate may be properly identified. Designation of Voting Delegate Name of Voting Delegate: ______________________ _ Title: --------------------------------- Municipality of: __________________________ _ AUTHORIZED BY: Name Title Return this form to: Gail Dennard Florida League of Cities, Inc. Post Office Box 1757 Tallahassee, FL 32302-1757 Fax to Gail Dennard at (850) 222-3806 or email gdennard@jlcities.com Important Dates May2016 AGENDA ITEM #4B JUNE 13, 2016 Notice to Local and Regional League Presidents and Municipal Associations regarding the Resolutions Committee June 2016 Appointment ofResolutions Committee Members July 12th Deadline for Submitting Resolutions to the League office August 18th Policy Committee Meetings Resolutions Committee Meeting Voting Delegates Registration August 20th Immediately Following Breakfast-Pick Up Voting Delegate Credentials Followed by Annual Business Session Call to order MINUTES Board Member Review Committee Meeting April28, 2016 5:00p.m. AGENDA ITEM #5A JUNE 13, 2016 The meeting was called to order at 5:00 p.m. by Commissioner John Stinson. In attendance were Commissioner John Stinson (Chairman), Members Jerry Johnson, Mike Paschall, and Solomon Brotman, Cultural Arts and Recreation Advisory Committee Chair Grant Healy, and City Clerk Donna Bartle. 1. Approval of the minutes of the BMRC meeting of January 28, 2016. Motion: Approve minutes of the Board Member Review Committee meeting of January 28, 2016. Moved by Paschall, seconded by Brotman Motion carried unanimously 2. Interview the new candidates (listed below) for consideration to the Cultural Arts and Recreation Advisory Committee. A. John Bishop B. Marina Kaplan C. Ellen Glasser D. Beverly Norman E. DawnPope The Committee interviewed each candidate listed above separately. An overview of the duties and responsibilities including the events, programs and activities of the Cultural Arts and Recreation Advisory Committee were explained to each of the applicants. Each candidate explained their personal accomplishments, experience, goals and interests in the community. The Committee offered the opportunity to ask questions and the Committee responded to those questions. 3. Make recommendations on filling vacancies on the Cultural Arts and Recreation Advisory Committee. It was noted that Grant Healy, Louis Cantania, Pamela White and Jay Wilson's terms expire on July 8, 2016. The Committee discussed the current members and decided to address the reappointments before addressing new membership. The Committee made the following recommendations: Motion: Recommend reappointing Grant Healy, Pamela White and Jay Wilson to the Cultural Arts and Recreation Advisory Committee for an additional term beginning July 9, 2016 and ending July 8, 2018. Moved by Brotman, seconded by Paschall Motion carried unanimously The Committee discussed the new candidates and made the following recommendations: Motion: Recommend appointing Beverly Norman to the Cultural Arts and Recreation Advisory Committee for the term beginning July 9, 2016 and ending July 8, 2018. Moved by Paschall, seconded by Brotman Motion carried unanimously AGENDA ITEM #SA JUNE 13, 2016 Motion: Recommend appointing Marina Kaplan to the Cultural Arts and Recreation Advisory Committee for the term beginning July 9, 2016 and ending July 8, 2018 contingent on her residency status in Atlantic Beach. Moved by Brotman, seconded by Healy Motion carried unanimously Motion: Recommend appointing Dawn Pope to the Cultural Arts and Recreation Advisory Committee beginning July 9, 2016 and ending July 8, 2018. Moved by Brotman, seconded by Paschall Motion carried unanimously The Committee discussed waiting until after June 1st to bring these recommendations to the Commission for action in order to allow time to check on Ms. Kaplan's residency status. They also discussed having an alternate choice in the event that another recommendation was needed. Motion: As an alternate choice, recommend appointing John Bishop to the Cultural Arts and Recreation Advisory Committee. Moved by Healy, seconded by Paschall Motion carried unanimously 4. Other Business. Commissioner Stinson explained his plan to meet with all the Board and Committee Chairs and Liaisons to discuss any issues they may have pertaining to their respective board or committee and to solicit ideas and solutions. Adjournment There being no other business, the meeting adjourned at 7:19p.m. John M. Stinson Chairman Draft-Minutes of the Board Member Review Committee Meeting on Apri/28, 2016 Page2 of2 AGENDA ITEM: SUBMITTED BY: DATE: CITY OF ATLANTIC BEACH CITY COMMISSION MEETING STAFF REPORT AGENDA ITEM #58 & SC JUNE 13,2016 2015 Gabriel Roeder Smith & Company City of Atlanti c Beach Retirement System Actuary Reports Russell Caffey, Director of Finance May27, 20 16 STRATEGIC PLAN LINK: N/A BACKGROUND: BUDGET: Each year, the Pension Board of Trustees authoriz es an actuary to perfmm an annual valuation of our retirement systems. The p urp ose of the valua tion is to measure the funding progress , to detennine the employer contribution rate and to provide actuarial in formation for Governmental Accounting Standards Board. The City is required to conttibute to each retirem ent system, the dollar amount specified in the valuations. This year's valuation ind icates an increase of $63,228 to $1 ,175,572 for the General Employee Plan and an increase of $23,361 to $745,533 for the Police Employee's Plan. The long tenn funding ratios of the plans a re 76% for General, which is consistent with prior year, and 67% for the Police, which is an increase of2%. These items wi ll affect the 2017 Operating Budget RECOMMENDATION :Informational Purposes ATTACHMENTS: Actuarial Valuat-ion Report for General Employees Retirement Sys tem Actuarial Valuation Report for Police Employees Retirement System REV1EWED BY ClTY MANAGER: ~ Vc:t.n ~, GRS AGENDA I TEM #58 .JUNE 13, 2016 Gabriel Roeder Smith & Company Consultants & Actuaries CITY OF A TLAN TIC BEACH GEN E RAL E MPLOYEE S' RETIREMENT SYSTEM ACTUARIAL VALUATION REPORT SEPTEMBER 3 0, 2015 ANNUAL EMPLOYER CONTRIBUTION IS DETERMINED BY THIS VALUATION TO BE PAID IN THE EMPLOYER FISCAL YEAR ENDING SEPTEMBER 30, 2017 GRS May 27,2016 Gabrie l Roeder Smith & Compn ny l.n n ~ul t.ln Is & Actlhtrit:' The Board ofTrustces C ity o f Atlantic Bea ch General Employee R etirem ent System A tlantic Beach, Florida D ear B oard Members: O ne East Browar d Blvd. Suite 505 Ft. Laud erda le, FL 3330 1-1804 95 4.527.1616 phone 95 4.S25 .008:l fax www.ga br it:! ro cder.o.;om W e al'e pleased to su bmit her ein our September 30, 20 15 Actuarial Valuation R eport for th e City of A tla ntic Beac h General Employees' Retiremertl System. The contribution r es ul ts app ly to t he C ity's fisca l yea r ending Sept ember 30 ,20 17. T h is report was prepa r ed at th e request of the Board of T r ustees and i s in tended f o r use by the Retirement Syst em an d those d esi gnated o r app ro ved by th e Board of Trustees. T his rer ort may be provided to parties other than t he Retirement Sys tem only in its entirety an d o nly with the perm iss i on of the Board of T ru stees. GR S i s no t responsible for unautho ri ze d use oft his repo rt. The purpose of th e va luati on is l o mea sure the Pl an's fund ing progress, t o det ermine the emp loyer contr i bLition rate for the fiscal year ending Septem ber 30, 20 17 and certain stal e r eporting req uirements under P.S. C h . 11 2.63. T his r eport sho uld not be r el ied on for any pu rp ose oth er th an t he purpose desc ribed above. Det ermina ti o ns of fin anci al resu lts associated with the benefi ts d esc ribed in thi s repor t, fo r purposes ot her than those identified a bove may be significa ntly d i fferent. The co mputed co ntribution rate shown on pa ge A-1 may be consi dered as a minimum co ntribution rate thut complies with th e B oard 's f unding p olicy and th e State statute. Users of this r eport should be aware t hat co ntributions made at that rate do not g uamntee benefit secu rity. Given the imp011ance of benefit sec urity t o any r eti r ement system, we sugges t t hat contributions to lhe Trust i n excess of those presented i n this r epo rt be con sidered. The contributio n r a te in this r eport is d etermined using th e ac tu ari al ass umpti ons and meth ods d i scl osed in Sec tio n cc Actuarial A ssumpti ons a11d Cos t Method" of this repo rt. T his r epo 1t does not include a r ob ust ass ess ment of the risk s of future experience not mee t ing the actuaria l ass umpti ons. Additional assess ment of ri sks wa s outside the sco pe o f thi s ass ignment. W e encourage a review and assess ment of i nvest ment and oth er signi ficant risks that may have a material effect on th e plan's fin anci al condi t ion. T h e deve loped findings incloded in this r eport cons ider data o t· other infor mation through Sep te mbet· 30, 20 15. ruture actuari al m eas urem ents may d i ffer sign ifica ntly Jl'om th e current measu rem ents pre se nted in this repo rt due to such fa ctors as the followi ng: plan exper ience differ ing from th at an ti cipate d by th e econo mic or demograph ic assu mptions; chan ges in economic o r demographic ass umptions; increases or dec reases expected as part of th e natural opera ti on of the metho dol ogy used for these meas urements (such as th e end of an amort i za ti on per i od o r additi ona l cos t or cont ri bulion requ i rem ents base d on th e plan's f und ed status); and changes in p lan provisi ons or appli ca bl e Jaw. T he sco pe of an ac t uari al va luati on does not inc l ud e an ana lys i s of the potential ran ge of such fu t ure meas urements. The Board of Trustees May 27,2016 Page2 This valuation assumed the continuing ability of the plan sponsor to make the contributions necessary to fund this plan. A determination regarding whether or not the plan sponsor is actually able to do so is outside our scope of expertise and was not perfonned. In addition, this repmt was prepared using assumptions approved by the Board as described in the section of this report entitled Actuarial Assumptions and Methods. The valuation was based upon infmmation furnished by the City, concerning Plan benefits, financial transactions, plan provisions and active members, terminated members, retirees and beneficiaries. We checked for internal and year-to-year consistency, but did not otherwise audit the data. We are not responsible for the accuracy or completeness of the information provided by the City. The calculations are based upon assumptions regarding future events, which may or may not materialize. They are also based upon plan provisions that are outlined in this repmt. If you have reason to believe that the assumptions that were used are unreasonable, that the plan provisions are incorrectly described, or that conditions have changed since the calculations were made, you should contact the author of this repmt prior to relying on infmmation in the report. James J. Rizzo and Piotr Krekora are members of the American Academy of Actuaries and meet the Qualification Standards of the American Academy of Actuaries to render the actuarial opinions contained herein. The signing actuaries are independent of the plan sponsor. This repmt has been prepared by actuaries who have substantial experience valuing public employee retirement systems. To the best of our knowledge the information contained in this report is accurate and fairly presents the actuarial position of the Retirement Plan as of the valuation date. All calculations have been made in confmmity with generally accepted actuarial principles and practices, with the Actuarial Standards of Practice issued by the Actuarial Standards Board and with applicable statutes. Gabriel, Roeder, Smith & Company will be pleased to answer questions pe1taining to the valuation and to meet with you to review this Report. Respectfully submitted, GABRIEL, ROEDER, SMITH AND COMPANY James J. Rizzo, ASA, MAAA Senior Consultant & Actuary Piotr Krekora, ASA, MAAA Consultant & Actuary Gabriel, Roeder, Smith and Company TABLE OF CONTENTS ::;:r:;~IIQt:l TITLE ~ A EXECUTIVE SUMMARY A-I B VALUATION RESULTS 1. Part icipant Data B-1 2 . Actuariall y Determined Co ntribution B-2 3. Act uari al Valu e of Benefits and Assets B-3 4. Financ ia l Soundness B-4 5. Actuaria l Ga in s and Losses B-8 6. Recent Hi story of Va lu ation Re sult s 8-1 2 7. Rece nt ll istor y of Required and Act ual Co ntributions B-14 8. Actuaria l Assumptions and Cos t Method B-15 c PENSION FUND INFORMATION I. S umm ruy of Assets C-1 2 . Summa1y of Fu nd's In come and Dis bursements C-2 3. Recon c ili ation of DROP Accounts C-3 4. Actuaria l Value of Asse ts C-4 5. lnv cstmcnt Rate ofRetum C-6 0 MISCELLANEOUS INFORMATION I. Re co nciliation ofMcmbcrship Data D-1 2. Statistical Data D-2 E SUMMARY OF PLAN PROVISIONS E-1 F COMPARATIVE SUMMARY OF PRINCIPAL f-1 VALUATION RE SULTS GRS SECTION A EXECUTIVE SUMMARY EXECUTIVE SUMMARY Closed Plan In reviewing this Repmt, it is important to keep in mind that the System is closed to new entrants. One of the consequences of this closure is that the annual payment on the unfunded accrued liability for the City will continue to increase as a percentage of covered payroll as the number of active plan members and such payroll decreases from year to year. Therefore, the overall cost as a percentage of covered payroll will be increasing each year in the absence of significant actuarial gains. Required Employer Contributions The following is a comparison of required contributions developed in this year's and the last actuarial valuations: For FYE 9/30/2017 For FYE 9/30/2016 Based on 9/30/15 Based on 9/30/14 Increase Valuation Valuation (Decrease) Gross Contribution Requirement $ 1,300,048 $ 1,256,217 $ 43,831 As% of Expected Payroll 62.66 % 52.39 % 10.27 % Expected Employee Contribution $ 124,476 $ 143,873 $ (19,397) As % of Covered Payroll 6.00 % 6.00 % 0.00 % Required Employer Contribution (If Made in Equal Monthly Installments) $ 1,175,572 $ 1,112,344 $ 63,228 As % of Covered Payroll 56.66 % 46.39 % 10.27 % Required Employer Contribution (IfMade in Whole at the Beginning of the Year) $ 1,132,626 1,071,708 60,918 As % of Covered Payroll 54.59 % 44.69% 9.90% Minimum Required Contribution As illustrated in the preceding chmt, the City contribution necessary to support the current benefits for the General Employees is $1,175,572 for the fiscal year ending September 30,2017. Please note that the Required Employer Contribution for that fiscal year is developed assuming it would be deposited in monthly intervals throughout the year. For completeness, we are also presenting an amount required to be contributed if deposited in a single sum at the beginning of the contribution year in lieu of periodic installments. Revisions in Benefits There were no revisions in benefits for the current year. Revisions in Actuarial Assumptions and Methods There were no revisions in Actuarial Assumptions and Methods for the current year. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I A-1 Recommendations We recommend a review of demographic assumptions including salmy scale, retirement, and termination rates. The last such study was based on plan experience for the period ending September 30, 2010. An updated study is warranted to ensure actuarial assumptions remain in line with emerging demographic trends and the assumed long term rate of return reflects revisions in the Plan's investment policy. Actuarial Experience Actuarial gains occur in a year whenever the experience of the plan is better than was assumed. For example, a gain would occur if investment performance were better than the rate being assumed in the actuarial valuation and costing process and this gain would have the effect of lowering the Minimum Required Contribution for the year. Furthermore, a gain will also occur whenever more employees terminate employment than were assumed would terminate as fewer employees are then expected to actually retire from the City. Actuarial losses occur in a year whenever the experience of the plan is worse than was assumed. In the exmnples given above, if the reverse were to occur, then actuarial losses would result. As another example, if salaries increased in one year higher than was assumed, an actuarial loss would occur. The actuarial valuation cost method which determines the Minimum Required Contribution is designed to produce contribution requirements which remain level as a percent of payroll for an open plan whenever the experience of the plan matches the actuarial assumptions used. Contribution Requirements are also level whenever actuarial losses exactly offset actuarial gains. Analysis of Change in Employer Contribution The increase in the Employer Contribution as a percent of pay is primarily due to the plan closure resulting in a decreased payroll -covered payroll has been dropping faster than the employer contribution. The components of change in the actuarially required contribution are as follows: Contribution rate last year 46.39 % Payment on UAAL 6.75 Experience gain/loss 2.70 Change in administrative expense 0.78 Change in normal cost before expenses 0.04 Revision in benefits 0.00 Revision in assumptions/methods 0.00 Contribution rate this year 56.66 % There was a net actuarial loss this year which was partially due to a lower than expected recognized investment return on the actuarial value of assets (5.7% recognized, compared to the 7.0% assumed) and partially due to data adjustments and unfavorable mortality and retirement experience. These losses were partially offset by lower than expected salary increases. A small increase in the administrative expenses is also contributing to an increase in the City contribution and due to the decrease in payroll from the prior year it represents a larger percentage of the projected payroll. The remainder of this Report includes detailed actuarial valuation results, finm1cial information, miscellaneous infmmation and statistics, and a summm-y of plan provisions. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I A-2 SECTIONB VALUATION RESULTS GRS PARTICIPANT DATA September 30, 2015 September 30, 2014 ACTIVE MEMBERS Number 43 Covered Annual Payroll (non-DROP) $ 2,074,607 Average Annual Pay $ 48,247 Average Age 52.6 Average Past Service 15.4 Average Age at Hire 37.2 RETIREES, BENEFICIARIES, & DROP MEMBERS Number Annual Benefits Average Annual Benefit Average Age DISABILITY RETIREES Number Annual Benefits Average Annual Benefit Average Age TERMINATED VESTED MEMBERS Number Annual Benefits Average Aruma! Benefit Average Age City of Atlantic Beach General Employees' Retirement System 61 $ 1,024,754 $ 16,799 68.3 3 $ 46,861 $ 15,620 62.7 12 $ 164,653 $ 13,721 53.8 48 $ 2,397,875 $ 49,956 52.7 14.7 38.0 55 $ 853,087 $ 15,511 67.9 4 $ 56,377 $ 14,094 62.5 12 $ 122,575 $ 10,215 53.1 9/30/2015 Actuarial Valuation I B-1 A. B. C. D. E. F. G. H. I. J. GRS ACTUARIALLY DETERMINED CONTRIBUTION (ADC) Valuation Date ADC to Be Paid During Fiscal Year Ending Assumed Date(s) of Employer Contrib. Annual Payment to Amm1ize Unfunded Actuarial Liability if Paid on the Valuation Date Employer Normal Cost (including Administrative Expenses) if Paid on the Valuation Date ADC ifPaid on the Valuation Date: D+E ADC Adjusted for Frequency of Payments and Interest to Required Time of Contribution Payroll Expected for Contribution Year ADC as % of Covered Payroll in Contribution Year: G -T-H Actuarially Determined Contribution if Paid on the First Day of the Contribution Year City of Atlantic Beach General Employees' Retirement System September 30, 2015 September 30, 2014 9/30/2017 9/30/2016 Monthly Monthly $ 799,150 $ 719,527 259,379 282,070 1,058,529 1,001,597 1,175,572 1,112,344 2,074,607 2,397,875 56.66 % 46.39 % 1,132,626 1,071,708 9/30/2015 Actuarial Valuation I B-2 I ACTUARIAL VALUE OF BENEFITS AND ASSETS I A. Valuation Date September 30,2015 September 30, 2014 B. Actuarial Present Value of All Projected Benefits for 1. Active Members a. Service Retirement Benefits $9,703,457 $11,057,889 b. Vesting Benefits 390,470 319,225 c. Disability Benefits 244,497 250,285 d. Preretirement Death Benefits 233,309 256,659 e. Return of Member Contributions 9,093 41,929 f. Total 10,580,826 11,925,987 2. Inactive Members a. Service Retirees & Beneficiaries 10,738,561 9,104,369 b. Disability Retirees 467,097 525,530 c. Terminated Vested Members 1,438,314 998,673 d. Total 12,643,972 10,628,572 3. DROP Balances* 252,720 273,114 4. Total for All Members 23,477,518 22,827,673 c. Actuarial Accrued (Past Service) Liability (Entry Age Normal)* 20,941,934 20,023,500 D. Actuarial Value of Accumulated Plan Benefits perF ASB No. 35 18,682,676 17,642,825 E. Plan Assets 1. Market Value* 15,008,338 14,919,308 2. Actuarial Value* 15,958,619 15,167,400 F. Actuarial Present Value of Projected Covered Payroll 16,233,175 18,159,759 G. Actuarial Present Value of Projected Member Contributions 973,991 1,089,585 * Beginning with September 30, 2014 Valuation DROP balances are being included in Present Value of Projected Benefits, Actuarial Accrued Liability and in Plan Assets. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I B-3 FINANCIAL SOUNDNESS The purpose of this pmiion of the Report is to provide certain measures which indicate the financial soundness of the program. These measures relate to shmi term solvency and long tetm solvency. The various percentages listed in this Section as of a single valuation date are not that significant. What is significant, however, is the trend of the rates over a period of years. It is also important to keep in mind that each time benefits or assumptions are revised; actuarial liabilities are created or diminished. Any newly created liabilities are financed systematically over a period of future years. All actuarially computed values in this analysis are based on the actuarial assumptions utilized in the respective years' actuarial valuations. Short Term Solvency The ultimate test of financial soundness is the program's ability to pay all promised benefits when due. The program's progress in accumulating assets to pay all promised benefits can be measured by comparing the market value of assets with: 1. The actuarial present value of projected benefits payable to those already receiving benefits and to vested terminations, and 2. The actuarial present value of accrued benefits payable to active pmiicipants. This amount is based on benefits eamed to date without future credited service or salary increases. The total of the two items should generally be fully covered by assets. That pmiion of the total of the two items covered by assets should increase over time. Often assets continue to grow beyond the actuarial present value of these two items. I 1. 2. 3. 4. 5. 6. GRS I General Employees 9/30/15 9/30/14 Accumulated Contributions of Active Members $ 1,121,958 $ 1,204,929 $ APV of Projected Benefits in Pay Status and for Vested Terminations 12,896,692 1 10 901 686 1'2 ' ' APV of Accrued Benefits for Active Participants (Employer Portion) 4,664,026 5,536,210 1. Total 18,682,676 17,642,825 Market Value of Assets 15,008,338 I 14,919,308 I Assets as% of Total 80% 85% 1 DROP balances are being included in Actuarial Accrued Liability and in Plan Assets. 2 Reflects changes in actuarial assumptions. I 09/30/13 1,225,604 8,871,346 5,084,432 15,181,382 13,770,711 91% City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I B-4 Long Term Solvency Over the longer term, the solvency of an ongoing plan can be measured by comparing the Actuarial Value of Assets to an amount known as the Actumial Accrued Liability (AAL) under the Entry Age Actuarial Cost Method. This item has often been called the "past service liability". Its derivation differs from the short term solvency value derivation in several ways. The short term solvency liability number is based on the benefits accrued to date by the participants while the long term solvency liability number is based on what the normal costs accrued to date by the employer. In addition, the short te1m solvency asset number is the market value, while the long term asset number is the actuarial value of assets. As in the case of the 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. GRS Actuarial Value of Actuarial Accrued %ofAAL Valuation Assets Liability Covered by Date (in Thousands) (in Thousands) Assets 9/30/00 5,229 6,462 81 % 9/30/01 * 5,587 6,986 80 9/30/02 5,747 7,479 77 9/30/03 * 5,951 8,186 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 9/30/08 * 9,209 12,624 73 9/30/09 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 *Reflects change in benefits, actuarial assumptions and/or asset method. **Reflects the Actuarial Impact Statement for Ordinance 58-13-37. ***DROP balances are included in Actuarial Accrued Liability and in Plan Assets. City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I B-6 GRS $2 0 .0 $15.0 ~ ~ $1 0.0 $5.0 $0.0 - - Ratio of Actuarial Value of Assets to Actuarial Accrued Liability - f~£ L. • • e r-• -~ • • r-• • • • ·- ~~'\:::, ~r;::::,' ~r;::::,"v ~'\:::,"" ~~ ~'\:::,~ ~r;::::,Ca ~'\:::," ~r;::::,'b ~r§J ~ ...... '\:::, ~"' ~~ ~" ~~ ~ .... ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Act uar ial Va lu at ion Date (Sep tember 30) -Ach~1rial Assets c:::::::l Acc ru ed Liability -•-Rat io 300% 25 0% 200% 1 50%~ 8· 100% SO% 0% C ity o f A tl antic Beac h Ge neral Employees ' Ret irement Syste m 9/30/20 IS Actua ri a l Va lu ati on I B-7 ACTUARIAL GAINS AND LOSSES The assumptions used to anticipate mortality, employment tumover, investment income, expenses, salmy increases, and other factors have been based on long range trends and expectations. Actual experience can vmy from these expectations. The variance is measured by the gain and loss for the period involved. If significant long tenn experience reveals consistent deviation from what has been expected and that deviation is expected to continue, the assumptions should be modified. The net actuarial gain (loss) for the past year is computed as follows: GRS Derivation of Experience Gain (Loss) 1. Last Year's UAAL 2. Last Year's Employer Normal Cost 3. Last Year's Actual City Contibution 4. Interest at the assumed rate on: a. 1 for one year b. 2 for one year c. 3 from dates paid d. a+ b-c 5. This Year's Expected UAAL 1 + 2-3 + 4d 6. This Year's Actual UAAL (before any changes in benefits or assumptions) 7. Net Actuarial Gain (Loss): (5)-(6) 8. Gain (Loss) due to investments 9. Gain (Loss) due to other sources 10. Amortization Payment Due to (Gain) Loss City of Atlantic Beach General Employees' Retirement System $4,856,100 282,070 863,613 339,927 19,745 30,226 329,446 4,604,003 4,983,315 (379,312) (177,271) (202,041) 50,472 9/30/2015 Actuarial Valuation I B-8 The fund eamings and salmy increase assumptions have considerable impact on the cost of the Plan so it is important that they are in line with the actual experience. The following table shows the history of actuarial fund eamings and salary increase rates compared to the assumed rates: Investment Return (AVA) Salary Increases Year Ending Actual Assumed Actual Assumed 9/30/1999 11.0 % 8.0 % 5.6 % 5.7 % 9/30/2000 9.7 8.0 8.3 6.0 9/30/2001 5.1 8.0 4.0 6.2 9/30/2002 1.5 8.0 4.4 5.9 9/30/2003 1.7 8.0 4.5 5.9 9/30/2004 2.3 8.0 7.7 5.8 9/30/2005 4.9 8.0 10.8 5.8 9/30/2006 8.5 8.0 4.1 5.9 9/30/2007 10.0 8.0 9.8 5.9 9/30/2008 4.9 8.0 4.9 5.8 9/30/2009 4.2 8.0 6.1 5.7 9/30/2010 5.0 8.0 (0.4) 6.0 9/30/2011 2.1 8.0 0.5 6.0 9/30/2012 8.0 8.0 1.2 5.9 9/30/2013 8.0 8.0 1.3 5.9 9/30/2014 6.3 8.0 4.8 5.9 9/30/2015 5.7 7.0 3.3 5.4 Average 5.8 % ---4.7 % --- The actual investment retum rates shown above are based on the actuarial value of assets. The actual salmy increase rates shown above are the increases received by those active members who were included in the actuarial valuations both at the beginning and the end of each year. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I B-10 GRS RECENT HISTORY OF REQUIRED AND ACTUAL CONTRIBUTIONS End of Year To Required Contributions Which Valuation Valuation Applies % of Expected Actual Amount Payroll Contributions * 9/30/03 9/30/05 $ 464,893 15.02 % $ 464,893 9/30/04 9/30/06 480,029 16.09 480,029 * 9/30/05 9/30/07 482,364 13.99 482,363 * 9/30/06 9/30/08 456,965 13.62 457,005 9/30/07 9/30/09 528,428 14.03 528,426 * 9/30/08 9/30/10 599,292 14.84 599,292 9/30/09 9/30/11 722,769 16.60 722,769 * 9/30/10 9/30/12 998,516 24.53 998,516 9/30/11 9/30/13 1,044,392 26.34 1,044,392 ** 9/30/12 9/30/14 950,980 29.19 950,980 9/30/13 9/30/15 863,613 31.59 863,613 * 9/30/14 9/30/16 1,112,344 46.39 --- 9/30/15 9/30/17 1,175,572 56.66 --- *Reflects a change in assumptions or benefits. **Reflects the Actuarial Impact Statement for Ordinance 58-13-37. City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I B-14 The rates of retirement used to measure the probability of eligible members retiring under normal and early retirement eligibility during the next year were as follows: Normal or Early Reitrement/DROP Retirement Percent of Eligible Ages Employees Retiring 55 15% 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 10% 10% 10% 10% 20% 15% 15% 15% 20% 30% 40% 50% 50% 50% 100% Rates of separation from active membership were as shown below (rates do not apply to members eligible to retire and do not include separation on account of death or disability). This assumption is used to yield the probabilities of members remaining in employment. GRS Rates of Separation from Active Employment Sample Years of Ages Service ALL 0 1 2 3 4 25 5 & Over 30 35 40 45 50 55 60 City of Atlantic Beach General Employees' Retirement System Assumptions 28.61% 20.78% 16.94% 11.67% 7.41% 3.70% 3.50% 3.20% 3.00% 2.70% 2.20% 2.00% 2.00% 9/30/2015 Actuarial Valuation I B-17 Administrative & Investment Expenses Benefit Service Decrement Operation Decrement Timing Eligibility Testing Forfeitures Incidence of Contributions Marriage Assumption Normal Form of Benefit Pay Increase Timing Service Credit Accruals Miscellaneous and Technical Assumptions Annual administrative expenses are assumed to be equal to the actual expenses paid during the preceding fiscal year. Investment expenses are offset against gross investment income. Assumed administrative expenses are added to the Normal Cost. Exact fractional service is used to determine the amount of benefit payable. Disability and mortality decrements do not operate during the first 5 years of service. Disability and separation do not operate during retirement eligibility. Decrements of all types are assumed to occur at mid-year. Eligibility for benefits is detennined based upon the age nearest birthday and service nearest whole year on the date the decrement is assumed to occur. Vested members who terminate with a benefit worth less than 100% of their own accumulated contributions were assumed to forfeit their vested benefit. Employer contributions are assumed to be received in 12 equal monthly installments. Member contributions are assumed to be received continuously throughout the year based upon the computed percent of payroll shown in this report, and the actual payroll payable at the time contributions are made. 80% of members are assumed to be married for purposes of death-in- service benefits. Male spouses are assumed to be three years older than female pmiicipants and female spouses are assumed to be three years younger than male participants for 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 credit per year. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation! B-18 GLOSSARY OF TERMS Actuarial Accrued Liability The difference between (i) the actuarial present value of future plan benefits, and (ii) the actuarial present value of future normal cost. Sometimes referred to as "accrued liability" or "past service liability." Accrued Service The service credited under the plan which was rendered before the date of the actuarial valuation. Actuarial Assumptions Estimates of future plan experience with respect to rates of mmtality, disability, turnover, retirement, rate or rates of investment income and salary increases. Decrement assumptions (rates of mmtality, disability, turnover and retirement) are generally based on past experience, often modified for projected changes in conditions. Economic assumptions (salary increases and investment income) consist of an underlying rate in an inflation-free environment plus a provision for a long-term average rate of inflation. Actuarial Cost Method A mathematical budgeting procedure for allocating the dollar amount of the "actuarial present value of future plan benefits" between the actuarial present value of future normal cost and the actuarial accrued liability. Sometimes referred to as the "actuarial funding method." Actuarial Equivalent Actuarial Present Value Amortization Experience Gain (Loss) Normal Cost Reserve Account Unfunded Actuarial Accrued Liability Valuation Assets A single amount or series of amounts of equal value to another single amount or series of amounts, computed on the basis of the rate(s) of interest and mmtality tables used by the plan. The amount of funds presently required to provide a payment or series of payments in the future. It is detennined by discounting the future payments at a predetermined rate of interest, taking into account the probability of payment. Paying off an interest-bearing liability by means of periodic payments of interest and principal, as opposed to paying it off with a lump sum payment. A measure of the difference between actual experience and that expected based upon a set of actuarial assumptions during the period between two actuarial valuation dates, in accordance with the actuarial cost method being used. The annual cost assigned, under the actuarial funding method, to current and subsequent plan years. Sometimes referred to as "current service cost." Any payment toward the unfunded actuarial accrued liability is not part of the normal cost. An account used to indicate that funds have been set aside for a specific purpose and is not generally available for other uses. The difference between the actuarial accrued liability and valuation assets. Sometimes referred to as "unfunded accrued liability." The value of current plan assets recognized for valuation purposes. Generally based on market value plus a portion of unrealized appreciation or depreciation. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I B-19 SECTIONC PENSION FUND INFORMATION SUMMARY OF ASSETS 9/30/2015 9/30/2014 Cash and Securities-Market Value Cash and Cash Equivalents $ 68,735 $ 27,899 ShoJi Term Investments 4,846,615 4,701,667 Treasury and Agency Bonds & Notes 96,412 251,173 Corporate Bonds 622,887 4,994,776 Common & Preferred Stocks 9,339,085 4,758,558 Pooled Equity Funds 0 0 Mutual or Pooled Bond Funds 0 0 Mutual Equity Funds 0 0 Other Securities-Pmticipant Directed 29,039 144,640 Total 15,002,773 14,878,713 Receivables and Accruals Member Contribution 0 0 Additional Employer Contribution 0 0 Interest and Dividends 5,565 40,709 Interest Deposit for Late Contribution 0 0 Total 5,565 40,709 Payables Benefits-DROP Reserve 0 0 * Lump Sum Distributions 0 0 Expenses 0 0 Other 0 114 Total 0 114 Net Assets-Market Value $ 15,008,338 $ 14,919,308 * Beginning with 9/30/2014 valuation DROP balances are being included in Plan Assets for consistency with GASB Statements 67 and 68. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I C-1 PENSION FUND INCOME AND DISBURSEMENTS Year Ending Year Ending 9/30/2015 9/30/2014 Market Value at Beginning of Period $ 14,919,308 $ 13,770,711 Income Member Contributions 136,191 157,383 State Contributions 0 0 Employer Contribution 863,613 950,980 Interest and Dividends 88,632 286,651 Legal Settlement 0 0 Realized and Unrealized Gain (Loss) 152,159 468,942 Total Income 1,240,595 1,863,956 Disbursements Monthly Benefit Payments 869,484 697,702 DROP Payments Held in Reserve 0 0 Lump Sum Distributions (from DROP) 161,707 0 Refund of Contributions 0 9,516 Investment Related Expenses 78,465 65,732 Other Administrative Expenses 41,909 31,529 Rollover of Employee Contributions to DC Plan 0 0 Total Disbursements 1' 151,565 804,479 Adjustment for Adopting New Accounting Principle* $ 0 89,120 Net Increase During Period $ 89,030 $ 1' 148,597 Market Value at End of Period $ 15,008,338 $ 14,919,308 * For consistency with GASB Statements 67 and 68 DROP balances are now being included in Plan Assets. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I C-2 DEFERRED RETIREMENT OPTION PLAN (DROP) BENEFITS HELD IN RESERVE A reconciliation of the accumulated DROP account balances is provided in the table below. GRS RECONCILIATION OF DROP ACCOUNTS Value at beginning ofyear Payments credited to accounts Investment Earnings credited Withdrawals from accounts Value at end of year DROP PARTICIPATION ACTIVITY Number as of September 30, 20 14 Number entered DROP during the year Number exited DROP during the year Number as of September 30,2015 Average Monthly Benefit as of September 30, 20 15 City of Atlantic Beach General Employees' Retirement System $ 273,114 + 138,074 + 3,239 161,707 252,720 6 0 (3) 3 $3,230 9/30/2015 Actuarial Valuation I C-3 ACTUARIAL VALUE OF ASSETS As of September 30, 2015 Valuation assets are calculated using a smoothed market value over a period of four ( 4) years, as prescribed under Internal Revenue Procedure 2000-40. The asset value determined under this 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 a decreasing fraction (1/nth per year, where n equals the number of years in the smoothing period) of the gain or loss for each of the preceding 3 years. Under this method, a gain or loss for a year is determined by calculating the difference between the expected market value of the assets at the valuation date and the actual market value of the assets at the valuation date. The expected value of the assets for the year is the market value of the assets at the valuation date for the prior year brought forward with interest at the valuation interest rate to the valuation date for the current year plus contributions minus disbursements (i.e., benefits paid and expenses), all adjusted with interest at the valuation rate to the valuation date for the current year. If the expected value is less than the market value, the difference is a gain. Conversely, if the expected value is greater than the market value, the difference is a loss. Calculation of Valuation Assets is shown on the following page. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I C-4 DEVELOPMENT OF FUNDING VALUE OF ASSETS AS OF SEPTEMBER 30 2013 A. Preliminaty actuarial value from prior year $ 12,465,289 B. Market value beginning of prior year 12,693,827 C. Market value end of prior year 13,770,711 D. Non-investment net cash flow [ contributions-(benefits & expenses)] 343,020** E. Investment return 1. Actual mm·ket value return net of investment expenses: C-B - D 733,896 2. Expected return of7.00% (8.00% before 20 15) 1,029.227 3. Excess/(shortfall) to be phased-in: El -E2 (295,331) F. Phased-in recognition of investment return (4 Year Recognition) 1. Cu11'ent yeat": 25% ofE3 (73,833) 2. 25% of excess/( shortfall) fi·om first prior yem· 224,855 3. 25% of excess/( shortfall) from second prior year (273,334) 4. 25% of excess/(shortfall) from third prior year 52,867 5. Total phased-in recognition of investment return (69,445) G. Actuarial value end ofyem· 1. Preliminary actuarial value end of year: A+ D+ E2+ F5 13,815,833 2. Upper corridor limit: 120% of C 16,524,853 3. Lower corridor limit: 80% ofC 11,016,569 4. Adjustment to reflect retroactive plan closure 0 5. Actuarial value end ofyem· 13,815,833* H. Difference between market value and actum·ial value (45,122) I. Ratio of Funding Value to Mm·ket Value 100% *Offietfor DROP Rese1w made prior to the calculation of valuation assets **Reflects the Actuarial Impact Statement for Ordinance 58-13-3 7 ***Includes adjustment for adopting new Accounting Principle. GRS City of Atlantic Beach General Employees' Retirement System 2014 2015 2016 $ 13,815,833 $ 15,167,400 $ 15,958,619 13,770,711 14,919,308 15,008,338 14,919,308 15,008,338 458,736*** (73,296) 689,861 162,326 1,123,571 1,041,786 (433,710) (879,460) (108,428) (219,865) (73,833) (108,428) (219,865) 224,855 (73,833) (108,428) (273,334) 224,855 (73,833) (230,740) (177,271) (402,126) 15,167,400 15,958,619 17,903,170 18,010,006 11,935,446 12,006,670 0 0 15,167,400 15,958,619 (248,092) (950,281) 102% 106% 9/30/2015 Actuarial Valuation I C-5 INVESTMENT RATE OF RETURN The investment rate ofretum has been calculated on the following bases: Basis 1-Market Value: Interest, dividends, realized gains (losses) and unrealized appreciation (depreciation) divided by the beginning market value of the fund, adjusted for cash flow during the year. This figure is nmmally called the Total Rate ofRetum. Basis 2-Actuarial Value: Investment earnings recognized in the Actuarial Value of Assets divided by the weighted average of the Actuarial Value of Assets during the year. GRS Investment Rate of Return Year Ended Marl{et Value Actuarial Value 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 9/30/08 9/30/09 9/30/10 9/30/11 9/30/12 9/30/13 9/30/14 9/30/15 Average Compounded Rate of Return for 5 Years 10 Years All Years City of Atlantic Beach General Employees' Retirement System 8.0 % 11.0 % 4.3 9.7 (1.9) 5.1 (6.7) 1.5 10.1 1.7 7.2 2.3 9.4 4.9 9.7 8.5 14.7 10.0 (11.9) 4.9 9.7 4.2 9.9 5.0 (2.4) 2.1 16.4 8.0 5.7 8.0 4.9 6.3 1.1 5.7 5.0% 6.0% 5.5% 6.2% 4.9% 5.8% 9/30/2015 Actuarial Valuation I C-6 SECTIOND MISCELLANEOUS INFORMATION GRS RECONCILIATION OF MEMBERSHIP DATA From9/30/141 From9/30/13 To 10/01/15 To 9/30/14 I A Active Members 1. Number Included in Last Valuation 48 56 2. New Members Included in CuiTent Valuation 0 0 3. Non-Vested Employment Terminations 0 (I) 4. Vested Employment Terminations (1) (1) 5. Service Retirements (4) (4) 6. Disability Retirements 0 0 7. Deaths 0 (I) 8. DROP Retirement 0 (I) 9. Transfer to the DC Plan 0 0 -- --10. Number Included in This Valuation 43 48 I B. Terminated Vested Membe1·s I. Number Included in Last Valuation 12 11 2. Additions from Active Members I 1 3. Lump Sum Payments/Withdrawals 0 0 4. Payments Commenced (1) 0 5. Deaths 0 0 6. Other 0 0 -- --7. Number Included in This Valuation 12 12 I C. Service Retirees, Disability Retirees, Beneficiaries & DROP I. Number Included in Last Valuation 2. Additions from Active Members 3. Additions entering the DROP 4. Additions from Tem1inated Vested Members 5. Deaths Resulting in No Further Payments 6. Deaths Resulting in New Survivor Benefits 7. End of Certain Period-No Further Payments 8. Other--New Survivor Payments for Death 9. Number Included in This Valuation City of Atlantic Beach General Employees' Retirement System 59 56 4 4 0 I I 0 0 (2) (2) (1) 0 0 2 I ----64 59 9/30/2015 Actuarial Valuation I D-1 GRS STATISTICAL DATA Active Members as of September 30, 2015 Age Group 0-4 5-9 10-14 15-19 20-24 NO. 0 0 0 0 25-29NO. 0 0 0 0 30-34 NO. 0 1 0 0 35-39 NO. 0 0 0 0 40-44 NO. 0 3 2 0 45-49NO. 0 3 3 0 50-54 NO. 0 1 1 1 55-59 NO. 0 2 4 3 60-64 NO. 0 3 3 1 65&UPNO. 0 1 0 0 ---- -- TOT NO. 0 14 13 City of Atlantic Beach General Employees' Retirement System 5 I I 20-24 25-29 30& Up Total 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 6 1 2 0 9 1 0 1 5 1 0 2 12 1 1 0 9 0 0 0 1 -- ----- 5 3 3 43 9/30/2015 Actuarial Valuation I D-2 NUMBER ADDED TO AND REMOVED FROM ACTIVE MEMBERSHIP Number Added Terminations During Year Active Year Ended September 30 1997 1998 I999 2000 200I 2002 2003 2004 2005 2006 2007 2008 2009 20IO 20II 2012 2013 * 2014 * 2015 * 5-yr. Totals 2011-2015 Expected 20I6 During Year A E 12 11 12 6 I4 I7 7 6 9 8 7 10 I2 II 12 10 IO I4 IO II 8 7 7 6 6 2 4 7 6 7 8 7 0 0 0 0 Q Q 14 I4 A Represents actual number. Service Retirement A E 1 0.5 0 0.5 1 0.8 2 0.8 1 1.2 1 1.2 2 0.8 2 1.2 2 0.8 5 2.4 1 1.8 0 3.2 0 3.8 4 4.4 5 5.3 2 4.3 5 4.6 5 4.9 .1 3.9 2I 23.0 3.4 E Represents expected number. Disability Retirement A E 1 0.2 0 0.2 I 0.2 0 0.1 0 0.1 0 0.2 0 0.2 0 0.2 0 0.2 0 O.I 1 0.2 0 0.1 0 0.1 0 0.1 1 O.I 0 0.2 0 0.2 0 0.1 Q 0.1 I 0.8 O.I *No employees will be added following the closure of the plan. GRS City of Atlantic Beach General Employees' Retirement System Died-in Withdrawal Members Service Vested Other Total End of A E A A A E Year 0 0.2 2 7 9 8.2 76 0 0.2 0 6 6 8.3 82 0 0.2 0 15 15 8.3 79 0 0.1 0 4 4 7.5 70 1 0.1 1 5 6 7.6 71 0 0.1 2 7 9 8.1 68 0 0.1 0 9 9 10.8 84 0 0.1 1 7 8 10.0 86 0 0.2 1 1I 12 9.4 82 0 0.2 0 6 6 8.5 81 0 0.2 1 4 5 8.1 82 0 0.2 1 5 6 7.8 83 0 0.2 I 1 2 6.9 87 0 0.2 0 3 3 6.8 84 0 0.3 1 0 1 5.7 83 1 0.2 2 2 4 4.8 63 0 0.2 0 2 2 S.I 56 I 0.2 I I 2 0.7 48 Q 0.1 ! Q ! 0.6 43 2 1.0 10 I6.9 O.I 0.6 9/30/2015 Actuarial Valuation I D-3 Retired Members and Beneficiary Data Historical Schedule Added Removed Net Increase Year Ended Annual Annual Annual September 30 No. Pensions No. Pensions No. Pensions 2001 6 78,522 3 32,513 3 46,009 2002 17,716 * I 17,716 2003 3 23,184 26,801 2 (3,617) 2004 2 32,159 5,889 26,270 2005 2 35,900 2 17,160 18,740 2006 3 47,505 5,774 2 41,730 2007 6 82,446 3 29,272 3 53,174 2008 3 51,425 3 51,425 2009 9,217 9,217 2010 2 17,424 2 5,992 11,432 2011 4 95,156 3 13,790 81,366 2012 9 105,409 1 14,326 8 91,083 2013 4 77,393 0 4 77,393 2014 6 160,587 12,284 5 148,303 2014 5 91,970 2 16,908 3 75,062 2015 5 162,151 0 5 162,151 Expected for 2016 * Includes a one-time 5. 0% cost-ofliving increase. GRS City of Atlantic Beach General Employees' Retirement System Expected End ofYear Removals Annual Annual No. Pensions No. Pensions 26 220,022 0.6 4,196 27 237,738 0.6 4,543 29 234,121 0.7 5,355 30 260,391 0.9 6,159 30 279,131 1.0 6,956 32 320,861 1.0 7,331 35 374,035 1.0 7,917 38 425,460 1.1 8,798 38 425,460 1.3 10,328 38 436,892 1.3 11,534 39 518,258 1.2 11,854 47 609,341 1.2 12,414 51 686,734 1.2 12,623 56 834,402 1.3 14,605 59 909,464 1.3 15,651 64 1,071,615 1.3 15,644 1.4 18,241 9/30/2015 Actuarial Valuation I D-4 SECTION£ SUMMARY OF PLAN PROVISIONS A. Ordinances: Plan established under the Code of Ordinances for the City of Atlantic Beach, Florida, Part II, Chapter 2, Article VI, Division 3 and was most recently amended and restated under Ordinance No. 58-13-37 passed and adopted on June 10, 2013. The Plan is also governed by certain provisions of Part VII, Chapter 112, Florida Statutes (F.S.) and the Internal Revenue Code. B. Effective Date December 22, 1975 C. Plan Year October 1 through September 30 D. Type of Plan Qualified, governmental defined benefit retirement plan; for GASB purposes it is a sole employer plan. E. Eligibility Requirements The plan is currently closed to new entrants. Prior to closure, the plan included all City employees, other than police officers or firefighters, who normally worked more than 1,000 hours annually and who were not elected officials, temporary or contractual employees, or executives or departments heads that elected not to participate. They became members on the date of employment. F. Credited Service Service is measured as the total number of years and fractional parts of years. No service will be credited for any periods of employment for which the member received a refund of their employee contributions. G. Compensation Base salary or wages paid for services rendered to the City including longevity pay, overtime pay, cost of living payments, holidays and personal leave taken. Compensation excludes payments of unused personal leave, unifmm or equipment allowances, or any reimbursement of expenses. H. Final Average Compensation (FAC) Average monthly rate of Compensation during the highest 60 consecutive months of Credited Service out of the last 120 months preceding the date of termination or retirement. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I E-1 I. Normal Retirement Eligibility: Benefit: Nonnal Form of Benefit: A pmticipant may retire on the first day of the month coincident with or next following age 60 with 5 or more years of Credited Service. For employees hired before April 24, 2005: 2.85% ofFAC times Credited Service. Benefit is limited to 100% ofFAC. For employees hired on or after April 24, 2005: 2.50% ofF AC times Credited Service. Benefit is limited to 100% ofF AC. Life Annuity; other options are also available. J. Early Retirement Eligibility: Benefit: Nmmal Form of Benefit: A member may elect to retire earlier than the Nmmal Retirement Eligibility upon attainment of age 55 with 5 years of Credited Service. The Normal Retirement Benefit is actuarially reduced (at 6% per year) for each year by which the member's Early Retirement date precedes age 60. Life Annuity; other options are also available. K. Delayed Retirement Same as Normal Retirement taking into account compensation earned and service credited until the date of actual employment termination. L. Service Connected Disability Eligibility: Benefit: Normal Form of Benefit: Any member with 5 or more continuous yem·s of Credited Service who becomes totally and pennanently disabled and unable to render useful and efficient service to the City is eligible for a disability benefit. The benefit is calculated as if the member was eligible for Nmmal Retirement and is payable retroactively to the later of; the last day on payroll, or the date of application for disability benefits. Life Annuity; other options are also available. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I E-2 M. Non-Service Connected Disability Eligibility: Benefit: Normal Form of Benefit: Any member with 5 or more continuous years of Credited Service who becomes totally and permanently disabled and unable to render useful and efficient service to the City is eligible for a disability benefit. The benefit is calculated as if the member was eligible for Normal Retirement and is payable retroactively to the later of; the last day on payroll, or the date of application for disability benefits. Life Annuity; other options are also available. N. Pre-Retirement Death Eligibility: Benefit: Normal Form of Benefit: Any member with 5 or more years of Credited Service is eligible for a death benefit. Upon the death of a member, the designated beneficiary shall be paid an actuarially reduced benefit based on one hundred (1 00) percent survivor pension notwithstanding that the member may not have satisfied the conditions for retirement. If there are no beneficiaries designated by the member, then a benefit shall be paid to the surviving spouse or, if no surviving spouse, a reduced benefit will be paid to the member's unmarried children. If spouse is receiving benefits described above, no children's benefits are payable. If spouse is not receiving benefits, children under age 19, or age 23 if a full time student, will receive equal shares of 50% of the member's Normal Retirement Benefit under the Life Annuity option based upon service and F AC as of the date of death. Payable for the life of the member's beneficiary or spouse. Children's benefits are payable until age 19 or age 23 if a full time student. 0. Post Retirement Death Benefit determined by the form of benefit elected upon retirement. P. Optional Forms In lieu of electing the Normal Form of benefit, the optional fonns of benefits available to all retirees are the 50%, 66 2/3%, 75% or 100% Joint and Survivor options. A Social Security option is also available for members retiring prior to the time they are eligible for Social Security retirement benefits. Q. Vested Termination Eligibility: Benefit: A pmticipant has eamed a non-forfeitable right to Plan benefits after the completion of 5 or more years of Credited Service. The benefit is the member's vested portion of the accrued Nonnal Retirement Benefit as of the date of termination. Benefit begins on the Nonnal or Early Retirement date. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I E-3 Vested Termination-Continued Nonnal Form of Benefit: Life Annuity; other options are also available. R. Refunds Eligibility: Benefit: Optionally, vested participants may also withdraw their contributions in lieu of the deferred benefits otherwise due. The member who terminates employment receives a lump-sum payment of their employee contributions with interest. S. Member Contributions 6% of Compensation T. Employer Contributions u. The amount determined by the actuary to pay the normal cost and an amortization of the unfunded actuarial accrued liabilities, along with employee contributions. Following are contribution rates per recent valuations: Contribution Year Beginning City Member Total 10/1/2009 14.84% 5.000% 19.84% 1011/2010 16.60% 5.000% 21.60% 1011/2011 24.53% 5.000% 29.53% 1011/2012 26.34% 5.000% 31.34% 10/1/2013 29.19% 6.000% 35.19% 1011/2014 31.59% 6.000% 37.59% 10/1/2015 46.39% 6.000% 52.39% 1011/2016 56.66% 6.000% 62.66% Cost of Living Increases The plan does not provide for automatic post-retirement cost of living adjustments (COLA) of retiree benefits. V. Changes from Previous Valuation See the Discussion of Valuation Results Section of this report under the Revisions in Benefits heading. W. Gain-sharing benefits Not applicable. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I E-4 X. Deferred Retirement Option Plan Eligibility: Benefit: Maximum Plan members are eligible for the DROP upon attaimnent of age 55 with 5 years of Credited Service. All members must make a written election to participate in the DROP. The member's Credited Service and FAC are fi·ozen upon ently into the DROP. The monthly retirement benefit as described under Nonnal Retirement is calculated based upon the frozen Credited Service and F AC. Benefits for members entering the DROP prior to age 60 will be actuarially reduced for Early Retirement. DROP Period: 60 months Interest Credited: Normal Form of Benefit: Participants' DROP account balances will be credited in accordance with the self-directed options selected by the participant who entered the program prior to July 1, 2013. For all other participants, DROP account balances will be credited or debited quarterly with interest based on Plan's net investment eamings or losses for that quarter. Lump Sum or roll-over to a qualified retirement account. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I E-5 SECTIONF COMPARATIVE SUMMARY OF PRINCIPAL VALUATION RESULTS COMPARATIVE SUMMARY OF PRINCIPAL VALUATION RESULTS September 30, 2015 September 30, 2014 A. Participant Data Number Included: Actives 43 48 Service Retirees & Beneficiaries 61 55 Disability Retirees 3 4 Terminated Vested Members 12 12 Total Members and Beneficiaries 119 119 Total Annual Payroll (Excluding DROP Participants) $2,074,607 $2,397,875 Annual Valuation Payroll 2,074,607 2,397,875 Expected Annual Payroll in Contribution Year 2,074,607 2,397,875 Total Annualized Benefits Service Retirees & Beneficiaries 1,024,754 853,087 Disability Retirees 46,861 56,377 Terminated Vested Members 164,653 122,575 B. Assets (Market Value)* Cash and Short Term Investments 4,915,350 4,729,566 Treasury and Agency Bonds & Notes 96,412 251,173 Common and Preferred Stocks 9,339,085 4,758,558 Mutual or Pooled Bond Funds 0 0 Corporate Bonds 622,887 4,994,776 Other Securities 29,039 144,640 Net Receivables & Payables 5,565 40,595 Total 15,008,338 14,919,308 Funding (Actuarial) Value !5,958,619 15,167,400 Assets include: Accumulated active member contributions 1,121,958 1,204,929 (with interest if applicable) c. Actuarial present value of accrued benefits (i) Vested accrued benefits Retired members and benefitciaries (excl DROP balances) 11,205,658 9,629,899 Terminated members I ,438,314 998,673 DROP Balances 252,720 273,114 Active members (includes non-forfeitable members contributions of 1,121,958 and 1,204,929) 5,785,984 6,741,139 Total 18,682,676 17,642,825 (ii) Non-vested accrued benefits 0 0 (iii) Total actuarial p.v. of accrued benefits 18,682,676 17,642,825 (iv) Actuarial p.v. of accrued benefits at begin. of year 17,642,825 15,181,382 (v) Changes attributable to: Amendments none none Method change (DROP treatment) 0 273,1 !4 Assumptions 0 1,675,679 Operation of decrements 2,071,042 1,219,868 Benefit payments (1,031,191) (707,218) Other none none (vi) Net change (PV AB measurement Method Change) 1,039,851 2,461,443 (vii) Actuarial p.v. of accr. beneftts at end of year 18,682,676 17,642,825 *DROP balances are included in Plan Assets beginning with 9/30/2014 valuation. GRS City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I F-1 GRS COMPARATIVE SUMMARY OF PRINCIPAL VALUATION RESULTS September 30,2015 September 30,2014 D. Liabilities-Actuarial Present Value of Future Benefits 1. Active Members Service Retirement Benefits Vesting Benefits Disability Benefits Preretirement Death Benefits Return of Member Contributions Total Actives 2. Inactive Members Service Retirees & Beneficiaries Disability Retirees Terminated Vested Members Total Inactive Members 3. DROP Balances 3. Total Present Value for All Members Total Present Value of: Future Salaries Future Employee Contributions Future Contributions from Other Sources Derivation of Current Employet· Unfunded Actuarial Accrued Liability (UAA.L) a. Total UAAL for Prior Valuation Date b. Employer Normal Cost for this period c. Interest acccrued on (a) and (b) d. Contributions for this period e. Interest accrued on (d) f. Changes due to: Plan Amendment Assumption Changes Asset Method Actuarial (Gain) Loss g. Total Current UAAL: a+b+c+d+e+f $9,703,457 $I I ,057,889 390,470 319,225 244,497 250,285 233,309 256,659 9,093 41,929 10,580,826 I 1,925,987 10,738,561 9,104,369 467,097 525,530 1,438,314 998,673 12,643,972 10,628,572 252,720 273,II4 23,477,518 22,827,673 16,233,175 18,159,759 973,991 1,089,585 6,544,908 6,570,688 $4,856,100 $3,466,268 282,070 260,545 359,672 287,723 (863,613) (950,980) (30,226) (38,039) 0 0 0 1,817,483 0 0 379,312 13,100 4,983,315 4,856 100 Original and Current Unfunded Actuarial Accmed Liabilities Date Item Description 9/30/2012 Original UAAL * 9/30/20!3 Experience Gain 9/30/2014 Experience Loss 9/30/2014 Assumption Changes 9/30/2015 Experience Loss TOTAL Years Remaining 7 8 9 9 10 Amortization Payment $523,991 (27,533) 1,805 250,4 I 5 50,472 $799,150 *Reflects the Actuarial Impact Statement for Ordinance 58-13-37. City of Atlantic Beach General Employees' Retirement System Original Current Amount Unfunded $4,133,993 $3,021,6!3 (208,1 09) (!75,914) 13, I 00 12,583 1,817,483 1,745,721 379,312 379,312 $6,135,779 $4,983,315 9/30/2015 Actuarial Valuation I F-2 COMPARATIVE SUMMARY OF September 30, 2014 PRINCIPAL VALUATION RESULTS September 30, 2015 E. Pension Cost Entry Age Normal Cost for: Service Retirement Benefits $281,209 $334,107 Vesting Benefits 30,867 18,599 Disability Benefits 15,794 17,127 Preretirement Death Benefits 6,763 7,980 Return of Member Contributions 13,971 24,280 Total Actives 348,604 402,093 Administrative Expenses 41,909 31,529 Expected Member Contributions 131,134 151,552 Total Employer Normal Cost 259,379 282,070 Payment Required to Amortize Unfunded Actuarial Accrued Liability 799,150 719,527 Total Contribution at Valuation Date 1,058,529 1,001,597 Total Contribution Adjusted for Frequency of Payments and Interest to Next Following Fiscal Year 1,175,572 1,112,344 %of Expected Payroll 56.66% 46.39% Amount Expected to be Contributed by Members Next FY 124,476 143,873 %of Expected Payroll 6.00% 6.00% F. Past Contributions-For the Fiscal Years Ended September 30 of2014 and 2015 Required Contribution Determined in the Valuation as of September 30, 2013 September 30, 20 12 for the Fiscal Year Ending September 30,2015 September 30, 2014 by the Plan Sponsor $863,613 $950,980 by Members $164,006 $195,496 Actual Contribution for the Fiscal Year ended September 30, 2015 September 30, 2014 by the Plan Sponsor $863,613 950,980 by Members $136,191 157,383 $379,312 $13,100 H. I. Plan to Amortize Unfunded Actuarial Accrued Liability 10 year funding of the Original Unfunded Actuarial Accrued Liability, I 0 year funding of any emerging Gains or Losses, or assumption changes. 2. Schedule Illustrating the Am01tization of the Unfunded Actuarial Accrued Liability (UAAL) Year Projected UAAL 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3. Action taken since last actuarial valuation. GRS Contribution sufficient to satisfY the total required contribution. City of Atlantic Beach General Employees' Retirement System 4,983,315 4,477,049 3,935,352 3,355,736 2,735,548 2,071,945 1,361,891 602,133 349,862 50,472 0 9/30/2015 Actuarial Valuation I F-3 COMPARATIVE SUMMARY OF PRINCIPAL VALUATION RESULTS I. 1. Three-Year Comparison of Actual and Assumed Salary Increases (Annualized) VearEnded 9/30/2013 9/30/2014 9/30/2015 Actual 1.3% 4.8% 3.3% Ass 5.9% 5.9% 5.4% 2. Three-Year Comparison oflnvestment Retum (Actuarial Value) Year Ended 9/30/2013 9/30/2014 9/30/2015 Actual I Assumed I 8.0% 8.0% 6.3% 5.7% 8.0% 7.0% 3. Average Annual Growth in Payroll, Last Ten Years (if applicable) Valuation Date 9/30/2005 9/30/2006 9/30/2007 9/30/2008 9/30/2009 Total Payroll 3,182,450 3,194,700 3,475,757 3,726,713 4,018,667 9/30/2010 3,837,512 9/30/2011 3,738,277 9/30/2012 3,713,609 9/30/2013 2,733,429 9/30/2014 2,397,875 9/30/2015 2,074,607 Total %Increase Last Ten Years (34.81 )% Annual % Increase ( 4.19)% Thirty-year Forecast 0.00% J. Benefits and Expenses of Plan not Explicitly or Implicitly Provided in Valuation NONE K. Trends not taken into Account but which are likely to Result in Future Cost Increases GRS NONE City of Atlantic Beach General Employees' Retirement System 9/30/2015 Actuarial Valuation I F-4 GRS AGENDA ITEM #SC JUNE 13, 2016 Gabriel Roeder Smith & Company Consultants & Actuaries CITY OF ATLANTIC BEACH POLICE OFFICERS ' RETIREMENT SYSTEM ACTUARIAL VALUATION REPORT SEPTEMBER 30, 2015 ANNUAL EMPLOYER CONTRIBUTION IS DETERMINED BY THIS VALUATION TO BE PAID IN THE EMPLOYER FISCAL YEAR ENDING SEPTEMBER 30, 2017 GRS May 26,20 16 Gabriel Roeder Smith & Co rnp~n y <.:ons ul mnr) & Actu a ri es The B oa rd o f T rus tees City o f A tlan ti c Bea ch Po lice Officers' Retire ment System Atl an t ic Beach, Florida IJear B oa rd M embers: One Ea\t Orow11rd Bl vd. Suite 505 Fr. l.nud crdo lc, fL 3330 1-1804 954 .527.1(,1(; phone 954.525.0083 fax www.~a brid rocdcr.com We are pleased to sub mit herein our September 30,201 5 Actuar i al Va luat ion Report for the C ity of Atlantic Beach Po lice Otlicers' Retirement Sy stem . The contribu ti on res ults apply to the C ity's fisca l yea r end ing Se ptem ber 30, 2017. T his repo rt was prepa red at th e r eques t of th e Boa rd of Trustees and is inten ded for usc by the Ret ireme nt System and those des ignat ed o r approved by th e B oa rd of Trustees. Th is report m ay be provid ed to par ti es o th er th an the Retirement Sys tem o nly in its enti rety and o nly w i th the permissi on of th e 13oard of T rustees. GRS i s not res po ns i bl e fo r un aut hori zed use of this report. The pmposc of the va luati on is to meas ure the Pl an's fu nd i ng prog re ss, to determine th e emp loyer contribution r ate tbr th e fi scal year ending Sep tember 30, 20 17 and ce rtain state reporting requirements und er F.S. C h. 112.63. T h is report should not be relied on for any purpose other th an the pur pose desc ribed above. Dete rm i r1at io ns of fin ancia l res ul ts assoc iated with t he benefi ts d escribed in t his report , for purposes other th an those iden ti fied above may be significantly different. The comp uted co ntribution rate show n on page A -1 may be co nsidered as a minimum contributio n r ate that comp lies w ith the Board's funding po licy and the Sta te stat ute. U sers of thi s repo11 should be aware th at co nt r ibutions made at that rate do not guarant ee be nefit security. G i ven the impor ta nce of be ne fit sec urity to any retire ment system, we suggest th at co nt ributions to th e Trust in excess of tbose prese nted in t his report be co nsi dere d. T he co nt ribut ion rate in t his report is determ ined usi ng the ac tu arial ass um pti ons and meth od s di sc l ose d in Sec tion "Actuari al A ss um ptions an d Cost M eth od" of thi s report. This report does no t inc lu de a r obust assess ment or th e ri sks of future experience not mee ting th e ac lu a ri <~l ass umptions. Additional assess m ent of risks was outside th e sc ope o f this ass ignm ent. W e encourage a rev i ew and assessment of investm ent an d oth er si gni fica nt ri sks t hat may have a material effect o n the pl an's finan cia l co nditi o n. T he deve l ope d findings included in U1is report co nsider data or othe r information through Sep tember 30, 20 15. Fu ture ac tuarial measu remen ts m ay d iffer significa ntly from the cmrcnt measureme nts prese nt ed i n thi s repo rt due to such factors as the followi ng: pl an exper ience d i f fe ring f ro m tha t an ti cipated by th e econom ic or demographic ass umptions; changes in economic or demograp hi c assumpti ons; increases or decreases ex pected as part o f the natural operation o f the meth odology used for th ese measu rements (s uch as the en d of an amortizatio n per iod o r additional cost or con trib uti on requirement s based on th e plan 's funded sta tus); and cha nges in pl an prov isio ns o r appli cab le law. The sc ope of an act uari al va l uat io n docs not include an analys is of the potential ra nge of such The Board of Trustees May 26,2016 Page 2 future measurements. This valuation assumed the continuing ability of the plan sponsor to make the contributions necessary to fund this plan. A determination regarding whether or not the plan sponsor is actually able to do so is outside our scope of expertise and was not perfonned. In addition, this repott was prepared using assumptions approved by the Board as described in the section of this report entitled Actuarial Assumptions and Methods. The valuation was based upon information fumished by the City, concerning Plan benefits, financial transactions, plan provisions and active members, terminated members, retirees and beneficiaries. We checked for intemal and year-to-year consistency, but did not otherwise audit the data. We are not responsible for the accuracy or completeness of the infmmation provided by the City. The calculations are based upon assumptions regarding future events, which may or may not materialize. They are also based upon plan provisions that are outlined in this report. If you have reason to believe that the assumptions that were used are unreasonable, that the plan provisions are incoJTectly described, or that conditions have changed since the calculations were made, you should contact the author of this repott prior to relying on infotmation in the repott. James J. Rizzo and Piotr Krekora are members of the American Academy of Actuaries and meet the Qualification Standards of the American Academy of Actuaries to render the actuarial opinions contained herein. The signing actuaries are independent of the plan sponsor. This report has been prepared by actuaries who have substantial experience valuing public employee retirement systems. To the best of our knowledge the information contained in this report is accurate and fairly presents the actuarial position of the Retirement Plan as of the valuation date. All calculations have been made in conformity with generally accepted actuarial principles and practices, with the Actuarial Standards of Practice issued by the Actuarial Standards Board and with applicable statutes. Respectfully submitted, GABRIEL, ROEDER, SMITH AND COMPANY James J. Rizzo, ASA, MAAA Senior Consultant & Actuary Piotr Krekora, ASA, MAAA Consultant & Actuary Gabriel, Roeder, Smith and Company TABLE QF CONTENTS sg~'(ION T LTL£ PAGE A EXECUT I VE SUMMARY A-1 B VALUATION RESULTS I. Participant Data B-1 2. Actua rially Determ in ed Contr ibut ion B-2 3. Actua ri al Value of Benefits and Assets B-3 4. State Premium Tax Revenu es BA 5. Financial Soundness B-5 6. Actuarial Gains an d Losses B-9 7 . Rece nt Hi story of Va lu ation Result s B-1 3 8. Recent 1 Ii story ofRequ ircd and Actual Contributions 8-15 9. Actuarial Assumpt ions and Cost Me thod 8-16 c PENSION FUND INFORMATION I. Summa ry o f Assets C-1 2. Summary of found's ln come and Di sburse ment s C-2 3. Reconciliati on of DROP Accounts C..3 4. Actuarial Value of Asse ts C..4 5. Investmen t Rate of Return C-6 D MISCELLANEOUS INFORMATION I. Rc conci I iation of Memb ership Data D-1 2. Stati sti ca l Data D-2 E SUMMARY OF PLAN PROVISIONS E-1 F COMPARATIVE SUMMARY OF PRINCIPAL F-1 VALUATION RESULTS GRS SECTION A EXECUTIVE SUMMARY GRS EXECUTIVE SUMMARY Comparison of Required Employer Contributions The following is a comparison of required contributions developed in this year's and the last actuarial valuations: For FYE 9/30/2017 For FYE 9/30/2016 Based on 9/30/2015 Based on 9/30/2014 Increase Valuation Valuation (Decrease) Gross Contribution Requirement $ 954,072 $ 935,544 $ 18,528 As% of Expected Payroll 72.68 % 68.14 % 4.54 % Expected Employee Contribution $ 105,011 $ 109,844 $ ( 4,833) As % of Covered Payroll 8.00 % 8.00 % 0.00 % Required Employer/State Contribution $ 849,061 $ 825,700 $ 23,361 As% of Expected Payroll 64.68 % 60.14 % 4.54 % Estimated State Contribution $ 103,528 $ 103,528 * $ 0 As % of Covered Payroll 7.89 % 7.54 % 0.35 % Required Employer Contribution (If Made in Equal Monthly Installments) $ 745,533 $ 722,172 * $ 23,361 As % of Covered Payroll 56.79 % 52.60 % 4.19 % Required Employer Contribution (If Made in Whole at the Beginning ofthe Year) $ 718,298 $ 695,790 * 22,508 As % of Covered Payroll 54.72 % 50.67 % 4.05 % *Results have been updated to reflect higher than expected State Contribution. Minimum Required Contribution As illustrated in the preceding chmi, the contribution necessary from the City and State to support the current benefits for the Police Officers is $849,061 for the fiscal year ending September 30, 2017. The City may be able to use State premium tax moneys to satisfY pmi of that requirement, leaving the City contribution at $745,533 (assumed receipts are the same as in 2015). However, the City may need to contribute more, should receipts from the State fall shmi of the expected amount presented in the table above. Please note that the Required Employer Contribution for that fiscal year is assumed to be deposited in monthly intervals throughout the year. For completeness, we are also presenting an amount required to be contributed if deposited in a single sum at the beginning of the contribution year in lieu of periodic installments. Revisions in Benefits There were no revisions in benefits for the current year. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I A-1 Revisions in Actuarial Assumptions or Methods There were no revisions in actuarial assumptions or methods for the cunent year. In the prior year a method change was made to include DROP reserves in the value of Plan Assets and liabilities for better comparability with GASB 67 and 68. Consistent with the new method, a one-time adjustment was also made this year to include the Excess Premium Tax Liability into the value of Plan Assets and liabilities since the same adjustment was recognized in the GASB 67 disclosures for fiscal year ending September 30, 2015. This adjustment had no effect on the Unfunded Actuarial Accrued Liability or the required contribution. Recommendations We recommend a review of demographic assumptions including salmy scale, retirement, and tetmination rates. The last such study was based on plan experience for the period ending September 30, 2010. An updated study is wananted to ensure actuarial assumptions remain in line with emerging demographic trends and the assumed long term rate of return reflects revisions in the Plan's investment policy. Actuarial Experience Actuarial gains occur in a year whenever the experience of the plan is better than was assumed. For example, a gain would occur if investment performance were better than the rate being assumed in the actuarial valuation and costing process and this gain would have the effect of lowering the Minimum Required Contribution for the year. Furthermore, whenever more employees terminate employment than were assumed would terminate, fewer employees are then expected to actually retire from the City, resulting in an actuarial gain for the plan. Actuarial losses occur in a year whenever the experience of the plan is worse than was assumed. In the examples given above, if the reverse were to occur, then actuarial losses would result. As another example, if salaries increased in a given year were higher than assumed, an actuarial loss would occur. The actuarial valuation cost method which detetmines the Minimum Required Contribution is designed to produce contribution requirements which remain level as a percent of payroll in the absence of plan changes and whenever the experience of the plan matches the actuarial assumptions used. Contribution Requirements are also level whenever actuarial losses exactly offset actuarial gains. Analysis of Change in Employer Contribution The components of change in the actuarially required contribution are as follows: Contribution rate last year Payment on UAAL Experience (gain)/loss Change in administrative expense Change in normal cost before expenses Revision in benefits Revision in assumptions/methods (Employee Contr. Rate) Change in State Revenue Contribution rate this year 52.60 % 1.91 1.34 1.21 0.08 0.00 0.00 (0.35) 56.79 % The Employer Contribution increased from the last valuation for reasons related to the Plan experience as discussed in the next paragraph. There was a net actuarial loss (Unfunded Actuarial Accrued Liability is higher than projected), primarily due to a lower than expected recognized investment return on the actuarial value of assets (5.3% recognized, compared to GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I A-2 the 7.0% assumed). In addition, the decrease in the payroll caused the payment on the UAAL to be a greater percent of payroll. A small increase in the assumed dollar amount of the State Revenue is helping to lower the City contribution and due to the decrease in payroll from the prior year it will represent a larger percentage of the projected payroll. The remainder of this Repmt includes detailed actuarial valuation results, financial infonnation, miscellaneous infmmation and statistics, and a summary of plan provisions. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I A-3 SECTION B VALUATION RESULTS I GRS PARTICIPANT DATA I September 30, 2015 September 30, 2014 ACTIVE MEMBERS Number 19 Covered Annual Payroll $ 1,246,622 Average Annual Payroll $ 65,612 Average Age 37.4 Average Past Service 10.2 Average Age at Hire 27.2 RETIREES, BENEFICIARIES, & DROP MEMBERS Number Annual Benefits Average Annual Benefit Average Age DISABILITY RETIREES Number Annual Benefits Average Annual Benefit Average Age TERMINATED VESTED MEMBERS Number Annual Benefits Average Armual Benefit Average Age City of Atlantic Beach Police Officers' Retirement System 17 $ 612,738 $ 36,043 62.6 4 $ 74,159 $ 18,540 58.1 6 $ 71,724 $ 11,954 50.5 21 $ 1,294,600 $ 61,648 38.3 9.5 28.7 16 $ 592,341 $ 37,021 62.0 4 $ 74,159 $ 18,540 57.1 5 $ 64,761 $ 12,952 50.8 9/30/2015 Actuarial Valuation I B-1 GRS ACTUARIALLY DETERMINED CONTRIBUTION (ADC) A. Valuation Date September 30, 2015 September 30, 2014 B. ADC to Be Paid During Fiscal Year Ending 9/30/2017 9/30/2016 c. Assumed Date(s) of Employer Contrib. Monthly Monthly D. Annual Payment to Amortize Unfunded Actuarial Liability if Paid on the Valuation Date $ 550,295 $ 535,271 E. Employer Normal Cost (including Administrative Expenses) if Paid on the Valuation 214,231 208,220 F. Actuarially Determined Contribution (ADC) if Paid on the Valuation Date: D+E 764,526 743,491 G. ADC Adjusted for Frequency of Payments and Interest to Required Time of Contribution 849,061 825,700 H. Covered Payroll for Contribution Year 1,312,639 1,373,048 I. ADC as % of Expected Covered Payroll in the Contribution Year G + H 64.68 % 60.14 % J. Estimate of State Revenue in Contribution Year** 103,528 103,528 * K. Actuarially Determined Contribution in Contribution Year 745,533 722,172 * L. ADEC as % of Covered Payroll in Contribution Year: K + J 56.79 % 52.60 % M. Actuarially Determined Contribution if Paid on the First Day of the Contribution Year 718,298 695,790 * *Results have been updated for the increase in the State Revenue. **Chapter 185 Florida Statutes. The City contribution amount may need to be increased if the amount received under the provisions of Chapter 185, Florida Statutes, is not sufficient to meet the total employer contribution requirement. City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-2 ACTUARIAL VALUE OF BENEFITS AND ASSETS A. Valuation Date September 30, 2015 September 30, 2014 B. Actuarial Present Value of All Projected Benefits for 1. Active Members a. Service Retirement Benefits $6,140,916 $6,062,400 b. Vesting Benefits 651,201 495,685 c. Disability Benefits 191,223 205,831 d. Preretirement Death Benefits 47,033 47,624 e. Return of Member Contributions 28,462 90,560 f. Total 7,058,835 6,902,100 2. Inactive Members a. Service Retirees & Beneficiaries 6,910,601 6,755,105 b. Disability Retirees 785,713 799,683 c. Terminated Vested Members 453,362 398,047 d. Total 8,149,676 7,952,835 3. DROP Balances* 488,041 346,448 4. Excess Premium Tax Liability* 120,454 N/A 5. Total for All Members 15,817,006 15,201,383 c. Actuarial Accrued (EAN Past Service) Liability (including reserves)* 13,399,853 12,656,462 D. Actuarial Value of Accumulated Plan Benefits 11,688,360 11,006,207 E. Plan Assets (including reserves)* 1. Market Value 8,493,122 8,128,264 2. Actuarial Value 9,029,746 8,269,551 F. Actuarial Present Value of Projected Covered Payroll 11,205,487 11,713,889 G. Actuarial Present Value of Projected Member Contributions 896,439 937,111 * Beginning with September 30, 2014 Valuation DROP balances are being included in Present Value of Projected Benefits, Actuarial Accrued Liability and in Plan Assets. The Excess Premium Tax Liability is being included in Present Value of Projected Benefits, Actuarial Accrued Liability and in Plan Assets beginning with the September 30, 2015 Valuation. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-3 STATE PREMIUM TAX REVENUES A. Accumulated Excess Premium Tax Revenues at the Beginning of the Year B. Chapter 185 Receipts During Fiscal Year Ending 9/30/2015 C. Chapter 185 "Frozen" Receipts During Fiscal Year Ending 9/30/1998 D. Qualifying Benefit Improvements Since Chapter 99-1 Effective Date E. Additional 185 Receipts During Fiscal Year Ending 9/30/20 15* F. Accumulated Excess Premium Tax Revenues as of 9/30/2015 not less than beginning of the year. Minimum Compliance ($18,517) A. Early retirement eligibility at 50 & I 0 B. Normal retirement eligibility at 55 & 10 C. I 0 year certain and life normal form Year Ending 9/30/2015 $ 120,454 103,528 70,289 18,517 14,722 120,454 Potential Future Benefits Extra Benefits A. None proposed *Note: During the Fiscal Year ended 9/30/2015, "Chapter 185 receipts" totaled $103,528. This amount is greater than the base amount of State premium tax moneys that was available in the past to be used by the City to satisfY part of the Actuarially Determined Contribution. However, pursuant to the agreement between the City and the Police Benevolent Association, the City has now access to all Chapter 185 revenue to fund the Unfunded Actuarial Accrued Liability, subject to an actuarial certification, and consequently there was no increase in the Accumulated Excess Premium Tax Revenues (item E above). GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-4 FINANCIAL SOUNDNESS The purpose of this portion of the Report is to provide cetiain measures which indicate the financial soundness of the program. These measures relate to short term solvency and long tetm solvency. The various percentages listed in this Section as of a single valuation date are not that significant. What is significant, however, is the trend of the rates over a period of years. It is also impmiant to keep in mind that each time benefits or assumptions are revised; actuarial liabilities are created or diminished. Any newly created liabilities are financed systematically over a period of future years. All actuarially computed values in this analysis are based on the actuarial assumptions utilized in the respective years' actuarial valuations. Short Term Solvency The ultimate test of financial soundness is the program's ability to pay all promised benefits when due. The program's progress in accumulating assets to pay all promised benefits can be measured by comparing the market value of assets with: I. The actuarial present value of projected benefits payable to those already receiving benefits and to vested terminations, and 2. The actuarial present value of accrued benefits payable to active participants. This amount is based 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 total of the two items covered by assets should increase over time. Often assets continue to grow beyond the actuarial present value of these two items. GRS Police Officers 9/30/2015 9/30/2014 9/30/2013 1. Accumulated Contributions of Active Members $ 471,030 $ 432,695 $ 405,604 2. APV ofprojected Benefits in Pay Status and for Vested Terminations l 8,758,171 8,299,283 7,238,073 3. APV of Accrued Benefits for Active Participants (Employer Portion) 2,459,159 2,274,229 1,794,982 4. Total 11,688,360 11,006,207 9,438,659 5. Market Value of Assets 1 8,493,122 8,128,264 7,331,629 6. Assets as% of Total 73% 74% 78% 1 DROP balances are being included in Actuarial Accrued Liability and in Plan Assets beginning with the September 30, 2014 Valuation. The Excess Premium Tax Liability is being included in Actuarial Accrued Liability and in Plan Assets beginning with the September 30, 2015 Valuation. City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-5 Long Term Solvency Over the longer term, the solvency of an ongoing plan can be measured by comparing the Actuarial Value of Assets to an amount known as the Actuarial Accrued Liability (AAL) under the Entry Age Actuarial Cost Method. This item has often been called the "past service liability". Its derivation differs from the short term solvency value derivation in several ways. The shmt term solvency liability number is based on the benefits accrued to date by the participants while the long te1m solvency liability number is based on what the nmmal costs accrued to date by the employer. In addition, the short term solvency asset number is the market value, while the long term asset number is the actuarial value of assets. As in the case of the short tenn 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. GRS Actuarial Value of Actuarial Accrued %ofAAL Valuation Assets Liability Covered by Date (in Thousands) (in Thousands) Assets 9/30/03 * $ 4,373 $ 5,986 73% 9/30/04 4,534 6,405 71 9/30/05 4,775 6,997 68 9/30/06 5,175 7,034 74 9/30/07 * 5,663 7,620 74 9/30/08 5,764 8,112 71 9/30/09 * 5,922 8,689 68 9/30/10 * 6,164 9,449 65 9/30/11 6,305 10,065 63 9/30/12 * 6,880 10,559 65 9/30/13 7,429 10,895 68 9/30/14 *'** 8,270 12,656 65 9/30/15 ** 9,030 13,400 67 *Reflects change in benefits, actuarial assumptions and/or method. **DROP balances are being included in Actuarial Accrued Liability and in Plan Assets beginning with the September 30, 2014 Valuation. The Excess Premium Tax Liability is being included in Actuarial Accrued Liability and in Plan Assets beginning ·with the September 30, 2015 Valuation. City of Atlantic Beach Police Officers' Retirement System 9/3 0/2015 Actuarial Valuation J B-7 ACTUARIAL GAINS AND LOSSES The assumptions used to anticipate mortality, employment turnover, investment income, expenses, salary increases, and other factors have been based on long range trends and expectations. Actual experience can vruy from these expectations. The variance is measured by the gain and loss for the period involved. If significant long term experience reveals consistent deviation from what has been expected and that deviation is expected to continue, the assumptions should be modified. The net actuarial gain (loss) for the past year is computed as follows: GRS Derivation of Experience Gain (Loss) 1. Last Year's UAAL 2. Last Year's Employer Normal Cost 3. Last Year's Actual City Contibution 4. Interest at the assumed rate on: a. 1 for one year b. 2 for one year c. 3 from dates paid d. a+ b-c 5. This Year's Expected UAAL 1 + 2-3 + 4d 6. This Year's Actual UAAL (before any changes in benefits or assumptions) 7. Net Actuarial Gain (Loss): (5)-(6) 8. Gain (Loss) due to investments 9. Gain (Loss) due to other sources City of Atlantic Beach Police Officers' Retirement System $4,386,911 208,220 677,542 307,084 14,575 23,714 297,945 4,215,534 4,370,107 (154,573) (145,570) (9,003) 9/30/2015 Actuarial Valuation I B-9 The fund earnings and salary increase assumptions have considerable impact on the cost of the Plan so it is important that they are in line with the actual experience. The following table shows the history of actuarial fund earnings and salary increase rates compared to the assumed rates. Investment Return (A VA) Salary Increases Year Ending Actual Assumed Actual Assumed 9/30/2003 2.2 8.0 8.8 6.5 % 9/30/2004 2.4 8.0 11.2 6.5 9/30/2005 4.4 8.0 15.1 6.3 9/30/2006 7.8 8.0 1.5 6.7 9/30/2007 9.4 8.0 12.8 6.6 9/30/2008 4.6 8.0 2.1 6.6 9/30/2009 3.8 8.0 11.0 6.4 9/30/2010 4.7 8.0 (0.0) 6.4 9/30/2011 2.2 8.0 3.8 7.4 9/30/2012 7.9 8.0 (0.8) 7.6 9/30/2013 7.5 8.0 2.3 7.5 9/30/2014 6.3 8.0 7.8 7.5 9/30/2015 5.3 7.0 8.6 7.5 Average 5.2 % ---6.4 % --- The actual investment return rates shown above are based on the actuarial value of assets. The actual salary increase rates shown above are the increases received by those active members who were included in the actuarial valuations both at the beginning and the end of each year. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-11 GRS RECENT IDSTORY OF REQUIRED AND ACTUAL CONTRIBUTIONS End of Year To Required Employer/State Contributions Actual Which Valuation Valuation Employer/State Applies % of Expected Contributions Amount Payroll 9/30/06 9/30/08 $ 309,841 22.80 % $ 309,842 * 9/30/07 9/30/09 345,280 21.93 345,280 9/30/08 9/30/10 425,823 26.62 425,823 • 9/30/09 9/30/11 487,032 26.49 487,032 * 9/30/10 9/30/12 628,909 36.18 628,898 9/30/11 9/30/13 606,741 35.63 609,012 . 9/30/12 9/30/14 654,280 39.99 659,420 9/30/13 9/30/15 665,091 46.10 677,542 9/30/14 • 9/30/16 825,700 60.14 ---- 9/30/15 9/30/17 849,061 64.68 ---- • Reflects change in benefits, actuarial assumptions and/or method. City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-15 ACTUARIAL ASSUMPTIONS AND COST METHOD Valuation Methods Actuarial Cost Method-The actuarial cost method is a procedure for allocating the actuarial present value of benefits and expenses to time periods. Normal cost and the allocation of benefit values between service rendered before and after the valuation date were detennined using the Entry-Age Actuarial Cost Method. The ently-age actuarial cost method allocates the actuarial present value of each member's projected benefits on a level basis over the member's pensionable compensation between the entry age 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 value not provided for by the actuarial present value of future normal costs is called the actuarial accrued liability. Deducting accrued assets from the actuarial accrued liability determines the unfunded actuarial accrued liability. Financing of Unfunded Actuarial Accrued Liabilities -The unfunded actuarial accrued liability was financed as a level percent of member payroll. Actuarial Value of Assets-The Actuarial Value of Assets phases in the difference between the expected and actual return on market value of assets at the rate of 25% per year. The Actuarial Value of Assets will be fmther adjusted to the extent necessary to fall within the corridor whose lower limit is 80% of the Market Value of plan assets and whose upper limit is 120% of the Market Value of plan assets. During periods when investment performance exceeds the assumed rate, Actuarial Value of Assets will tend to be less than Market Value. During periods when investment performance is less than assumed 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. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-16 Economic Assumptions The investment return rate assumed in the valuations is 7.00% per year, compounded annually (net of investment expenses). The price inflation rate assumed in this valuation was 2.5% per year. The plan does not provide for automatic post-retirement cost of living adjustments (COLA) of retiree benefits. Ad-hoc COLA increases have been adopted in the past upon approval by the City. Most recently, such increases have been granted in 1987, 1996 and 2001. No assumptions are made regarding future adjustments. Any such increases will be recognized as they occur. The payroll growth rate would be 3.5%, except that it is limited this year due the lower actual payroll growth rate over the last I 0 years in accordance with the requirements of Ch. 112.64 (5) (a), F.S. The rate used to amortize the unfunded actuarial accrued liabilities is 0.00% per year. The total rate of return is defined as earnings resulting from interest, dividends, realized gains (losses) and unrealized appreciation (depreciation) divided by the beginning market value of the fund, adjusted for cash flow during the year. Total rate of return is assumed to be 7.00% per year, net of investment-related expenses. The rates of salary increases used in the valuation are illustrated in the following table. These rates include price inflation of 2.5%. Annual Rates for Salary Increase for Sample Ages Age: 20 30 40 50 60 Expected Increase 22.5% 9.3% 6.1% 5.2% 4.5% GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-17 Demographic Assumptions The mortality rates used were taken from the gender specific RP-2000 Combined Healthy Participant Mortality Tables for males and females, with generational projections from the year 2000 Projection Scale AA. Sample mortality rates and life expectancy factors illustrated below apply to the valuation year and are projected to change in the future years. Sample Probability of Future Life Attained Dying Next Year Expectancy (years) Ages (in 2015) Men Women Men Women 50 0.16% 0.13% 34.35 35.68 55 0.27 0.24 29.23 30.71 60 0.53 0.47 24.29 25.93 65 1.03 0.90 19.68 21.44 70 1.77 1.55 15.48 17.32 75 3.06 2.49 11.68 13.59 80 5.54 4.13 8.45 10.28 This assumption is used to measure the probabilities of each benefit payment being made after retirement. For active members, the probabilities of dying before and after retirement were based upon the same mortality table as members dying after retirement. All deaths before retirement are assumed to be non-service connected. The mortality table was set forward ten years for projecting the expected mortality of disabled lives. The rates of retirement used to measure the probability of eligible members retiring under normal and early retirement eligibility were as follows: Normal Retirement/DROP Year of Percent of Eligible Eligibility Employees Retiring 1 40% 2 10% 3 10% 4 10% 5 40% 6-19 50% 20 and over 100% Additionally, the rate of retirement is assumed to be 100% upon attainment of age 60 and completion of 5 years of service. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-18 Early Retirement/DROP Retirement Percent of Eligible Ages Employees Retiring 50 10% 51 10% 52 10% 53 10% 54 10% Rates of separation from active membership were as shown below (rates do not apply to members eligible to retire and do not include separation on account of death or disability). This assumption is used to model the probabilities of members remaining in employment. Rates of Separation from Active Employment Sample Ages ALL 25 30 35 40 45 50 55 60 Years of Service 0 2 3 4 5 & Over Assumptions 34.00% 23.00% 16.00% 12.00% 9.00% 5.88% 5.32% 4.40% 3.70% 3.20% 2.40% 1.40% 1.00% Rates of Disability among active members ( 67% of disability incidences are assumed to be service-connected) GRS Percent Becoming Disabled Sample Ages 20 25 30 35 40 45 50 55 60 City of Atlantic Beach Police Officers' Retirement System Within Next Year Men Women 0.14% 0.14% 0.15% 0.15% 0.18% 0.18% 0.23% 0.23% 0.30% 0.30% 0.51% 0.51% 1.00% 1.00% 1.55% 1.55% 0.00% 0.00% 9/30/2015 Actuarial Valuation I B-19 Administrative & Investment Expenses Benefit Service Decrement Operation Decrement Timing Eligibility Testing Forfeitures Incidence of Contributions Marriage Assumption Normal Form of Benefit Pay Increase Timing Service Credit Accruals Miscellaneous and Technical Assumptions Annual administrative expenses are assumed to be equal to the actual expenses paid during the preceding fiscal year. Investment expenses are offset against gross investment income. Assumed administrative expenses are added to the Normal Cost. Exact fractional service is used to determine the amount of benefit payable. Disability and mmiality decrements do not operate during the first 5 years of service. Disability and separation do not operate during retirement eligibility. Decrements of all types are assumed to occur mid-year. Eligibility for benefits is determined based upon the age nearest biiihday and service nearest whole year on the date the decrement is assumed to occur. Vested members who terminate with a benefit worth less than 100% of their own accumulated contributions were assumed to forfeit their vested benefit. Employer contributions are assumed to be received in 12 equal monthly installments. Member contributions are assumed to be received continuously throughout the year based upon the computed percent of payroll shown in this report, and the actual payroll payable at the time contributions are made. 80% of members are assumed to be married for purposes of death-in- service benefits. Male spouses are assumed to be three years older than female participants and female spouses are 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 ce1iain. 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 credit per year. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-20 GLOSSARY OF TERMS Actuarial Accrued Liability The difference between (i) the actuarial present value of future plan benefits, and (ii) the actuarial present value of future normal cost. Sometimes referred to as "accrued liability" or "past service liability." Accrued Service The service credited under the plan which was rendered before the date of the actuarial valuation. Actuarial Assumptions Estimates of future plan experience with respect to rates of mmiality, disability, turnover, retirement, rate or rates of investment income and salary increases. Decrement assumptions (rates of mortality, disability, turnover and retirement) are generally based on past experience, often modified for projected changes in conditions. Economic assumptions (salary increases and investment income) consist of an underlying rate in an inflation-free environment plus a provision for a long-term average rate of inflation. Actuarial Cost Method A mathematical budgeting procedure for allocating the dollar amount of the "actuarial present value of future plan benefits" between the actuarial present value of future normal cost and the actuarial accrued liability. Sometimes referred to as the "actuarial funding method." Actuarial Equivalent Actuarial Present Value Amortization Experience Gain (Loss) Normal Cost Reserve Account Unfunded Actuarial Accrued Liability Valuation Assets A single amount or series of amounts of equal value to another single amount or series of amounts, computed on the basis of the rate(s) of interest and mmiality tables used by the plan. The amount of funds presently required to provide a payment or series of payments in the future. It is determined by discounting the future payments at a predetermined rate of interest, taking into account the probability of payment. Paying off an interest-bearing liability by means of periodic payments of interest and principal, as opposed to paying it off with a lump sum payment. A measure of the difference between actual experience and that expected based upon a set of actuarial assumptions during the period between two actuarial valuation dates, in accordance with the actuarial cost method being used. The annual cost assigned, under the actuarial funding method, to current and subsequent plan years. Sometimes referred to as "current service cost." Any payment toward the unfunded actuarial accrued liability is not part of the normal cost. An account used to indicate that funds have been set aside for a specific purpose and is not generally available for other uses. The difference between the actuarial accrued liability and valuation assets. Sometimes referred to as "unfunded accrued liability." The value of current plan assets recognized for valuation purposes. Generally based on market value plus a portion of unrealized appreciation or depreciation. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I B-21 SECTION C PENSION FUND INFORMATION SUMMARY OF ASSETS Y eal' Ending Yeal' Ending 9/30/2015 9/30/2014 Cash and Secul'ities-Mal'ket Value Cash and Cash Equivalents $ 68,372 $ 9,581 Short Term Investments 2,577,334 2,045,177 Treasury and Agency Bonds & Notes 0 0 Corporate Bonds 434,533 2,858,312 Common & Preferred Stocks 4,921,487 2,965,659 Other Fixed Income 0 0 Mutual or Pooled Bond Funds 0 0 Mutual Funds 0 0 Other Securities -Pmiicipant Directed 488,041 346,448 Total 8,489, 767 8,225,177 Receivables and Accmals Member Contribution 0 0 Additional Employer Contribution 0 0 Interest and Dividends 3,355 23,541 Total 3,355 23,541 Payables Benefits-DROP Reserve * 0 0 Lump Sum Distributions 0 0 Excess Premium Tax Liability* 0 120,454 Other 0 0 Total 0 120,454 Net Assets-Mal'ket Value $ 8,493,122 $ 8,128,264 * For consistency with GASB Statements 67 and 68 DROP balances are being included in Plan Assets beginning with the September 30, 2014 Valuation. Similarly, the Excess Premium Tax Liability is being included in Plan Assets beginning with the September 3 0, 2015 Valuation. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I C-1 GRS PENSION FUND INCOME AND DISBURSEMENTS Year Ending Year Ending 9/30/2015 9/30/2013 Market Value at Beginning of Period $ 8,128,264 $ 7,331,629 Income Member Contributions 112,354 103,095 State Contributions 103,528 96,217 Employer Contribution 574,014 563,203 Interest and Dividends 51,010 146,026 Realized and Unrealized Gain (Loss) 36,774 332,582 Total Income 877,680 1,241,123 Disbursements Monthly Benefit Payments 524,537 524,537 Lump Sum Distributions 0 0 Refund of Contributions 28,505 61,079 Increase in Excess Premium Tax Liability 0 0 Investment Related Expenses 44,250 35,290 Other Administrative Expenses 35,984 22,742 Insurance Premiums 0 0 Total Disbursements 633,276 643,648 Adjustment for new accounting principle * 120,454 199,160 Net Increase During Period $ 364,858 $ 796,635 Market Value at End of Period $ 8,493,122 $ 8,128,264 * For consistency with GASB Statements 67 and 68 DROP balances are being included in Plan Assets beginning with the September 30, 2014 Valuation. Similarly, the Excess Premium Tax Liability is being included in Plan Assets beginning with the September 30,2015 Valuation. City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I C-2 DEFERRED RETIREMENT OPTION PLAN (DROP) BENEFITS HELD IN RESERVE A reconciliation of the accumulated DROP account balances is provided in the table below. GRS RECONCILIATION OF DROP ACCOUNTS Value at beginning of year Payments credited to accounts Investment Earnings credited Withdrawals from accounts Value at end of year City of Atlantic Beach Police Officers' Retirement System $ + + 346,448 141,962 (369) 0 488,041 9/30/2015 Actuarial Valuation I C-3 ACTUARIAL VALUE OF ASSETS As of September 30, 2015 Valuation assets are calculated using a smoothed market value over a period of four ( 4) years, as prescribed under Internal Revenue Procedure 2000-40. The asset value determined under this 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 a decreasing fraction (1/nth per year, where n equals the number of years in the smoothing period) of the gain or loss for each of the preceding 3 years. Under this method, a gain or loss for a year is determined by calculating the difference between the expected market value of the assets at the valuation date and the actual market value of the assets at the valuation date. The expected value of the assets for the year is the market value of the assets at the valuation date for the prior year brought forward with interest at the valuation interest rate to the valuation date for the current year plus contributions minus disbursements (i.e., benefits paid and expenses), all adjusted with interest at the valuation rate to the valuation date for the current year. If the expected value is less than the market value, the difference is a gain. Conversely, if the expected value is greater than the market value, the difference is a loss. Calculation of Valuation Assets is shown on the following page. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation! C-4 INVESTMENT RATE OF RETURN The investment rate of return has been calculated on the following bases: Basis 1 -Market Value: Interest, dividends, realized gains (losses) and unrealized appreciation (depreciation) divided by the beginning market value of the fund, adjusted for cash flow during 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 divided by the weighted average of the Actuarial Value of Assets during the year. GRS Year Ended 9/30/03 9/30/04 9/30/05 9/30/06 9/30/07 9/30/08 9/30/09 9/30/10 9/30/11 9/30/12 9/30/13 9/30/14 9/30/15 Average Compounded Rate of Return for 5 Years 10 Years City of Atlantic Beach Police Officers' Retirement System Investment Rate of Return Market Value Actuarial Value 9.5 % 2.2 % 6.7 2.4 8.5 4.4 8.8 7.8 14.2 9.4 (11.7) 4.6 8.5 3.8 10.8 4.7 1.2 2.2 13.9 7.9 5.7 7.5 5.8 6.3 0.5 5.3 5.3% 5.8% 5.5% 5.9% 9/30/2015 Actuarial Valuation I C-6 SECTION D MISCELLANEOUS INFORMATION GRS RECONCILIATION OF MEMBERSHIP DATA I A. Active Members I. Number Included in Last Valuation 2. New Members Included in Current Valuation 3. Non-Vested Employment Terminations 4. Vested Employment Terminations 5. Service Retirements 6. Disability Retirements 7. Deaths 8. DROP Retirement 9. Vested Employment Terminations-Refunded 10. Number Included in This Valuation I B. Terminated Vested Members I. Number Included in Last Valuation 2. Additions from Active Members 3. Lump Sum Payments/Withdrawals 4. Payments Commenced 5. Deaths 6. Other-Returned to Work 7. Number Included in This Valuation I From 9/30/14 To 9/30/15 21 2 (1) (I) 0 0 0 (1) (1) 19 5 1 0 0 0 0 6 I C. Service Retirees, Disability Retirees, Beneficiaries & DROP I. Number Included in Last Valuation 20 2. Additions from Active Members 0 3. Additions entering the DROP 1 4. Additions from Terminated Vested Members 0 5. Deaths Resulting in No Further Payments 0 6. Deaths Resulting in New Survivor Benefits 0 7. End of Cetiain Period -No Further Payments 0 8. Other--Lump Sum Distributions 0 9. Number Included in This Valuation 21 From 9/30/12 To 9/30/13 22 2 0 (1) 0 0 0 0 (2) 21 4 1 0 0 0 0 5 20 0 0 0 0 0 0 0 20 City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I D-1 STATISTICAL DATA Active Members as of September 30, 2015 Age Group 0-4 5-9 10-14 15-19 20-24 NO. I 0 0 0 25-29NO. 4 0 0 0 30-34 NO. 0 I 0 0 35-39 NO. 0 2 I 0 40-44 NO. 0 0 3 3 45-49 NO. 0 0 I I 50-54 NO. 0 0 0 I 55-59 NO. 0 0 0 0 60-64 NO. 0 0 0 0 65&UPNO 0 0 0 0 -- ------ TOT NO. 5 3 5 GRS City of Atlantic Beach Police Officers' Retirement System 5 20-24 25-29 30 &Up Totals Avg.Pay 0 0 0 I 47,946 0 0 0 4 43,752 0 0 0 I 62,145 0 0 0 3 59,660 0 0 0 6 75,258 I 0 0 3 82,133 0 0 0 I 84,595 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ---------- I 0 0 19 65,612 9/30/2015 Actuarial Valuation I D-2 NUMBER ADDED TO AND REMOVED FROM ACTIVE MEMBERSHIP Year Ended September 30 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 5-yr. Totals 2010-2015 Expected for2016 Number Added During Year A E 3 6 9 4 3 4 2 4 4 3 5 4 5 4 3 3 3 4 2 2 0 4 2 3 1 .1 12 20 A Represents actual number. Service Retirement A E 0 0.1 0 0.3 2 0.6 1 1.0 1 0.2 1 0.1 1 0.1 0 0.4 2 1.0 1 1.0 1 1.0 0 0.4 ! 0.5 5 4.3 0.5 E Represents expected number. Terminations During Year Disability Died-in Withdrawal Retirement Service Vested Other Total A E A E A A A E 1 0.1 0 0.0 2 3 5 1.3 0 0.0 0 0.0 2 2 4 1.1 0 0.0 0 0.0 1 1 2 1.9 0 0.0 0 0.0 1 2 3 1.8 0 0.0 0 0.0 0 2 2 1.5 0 0.0 0 0.0 0 3 3 1.6 0 0.0 0 0.0 0 3 3 1.6 1* 0.0 0 0.0 1* 1 3 1.4 0 0.0 0 0.0 0 2 2 2.5 0 0.1 0 0.0 0 1 1 2.5 0 0.1 0 0.0 0 3 3 2.5 0 0.1 0 0.0 3 0 3 2.2 Q 0.1 Q 0.0 1 ! J. 1.5 1 0.4 0 0.0 15 12.5 0.0 0.0 1.5 *Member retroactively approved for duty disability benefits (previously reported as vested terminated) Active Members End of Year 22 27 26 24 25 26 27 27 26 26 22 21 19 GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I D-3 Retired Members and Beneficiary Data Historical Schedule** Added Removed Net Increase September 30 No. Pensions No. Pensions No. Pensions 2003 2 30,148 2 30,148 2004 2005 2 106,731 2 106,731 2006 34,521 9,796 0 24,724 2007 43,455 43,455 2008 2 63,781 2 63,781 2009 2010 6,319 * 14,935 (8,616) 2011 2 84,469 0 2 84,469 2012 2 68,629 0 2 68,629 2013 I 48,017 0 I 48,017 2014 0 0 0 0 2015 1 20,397 0 1 20,397 Expected for 2016 * One-time acijustment correcting past underpayments GRS City of Atlantic Beach Police Officers' Retirement System Expected End of Year Removals No. Pensions No. Pensions II 235,310 0.1 2,072 II 235,310 0.2 2,683 13 342,041 0.2 2,933 13 366,765 0.2 3,809 14 410,220 0.2 3,922 16 474,001 0.2 4,510 16 474,001 0.2 5,200 15 465,385 0.2 5,200 17 549,854 0.2 5,200 19 618,483 0.3 5,761 20 666,500 0.2 4,950 20 666,500 0.2 5,547 21 686,897 0.2 6,119 0.3 6,815 9/30/2015 Actuarial Valuation I D-4 SECTION E SUMMARY OF PLAN PROVISIONS A. Ordinances: Plan established under the Code of Ordinances for the City of Atlantic Beach, Florida, Part II, Chapter 2, Article VI, Division 4 and was most recently amended and restated under Ordinance No. 58-13-36 passed and adopted on June 10, 2013. The Plan is also governed by certain provisions of Part VII, Chapter 112, Florida Statutes (F.S.), F. S. 185 and the Internal Revenue Code. B. Effective Date December 22, 1975, Restated under Division 4 on July 10, 2000 C. Plan Year October 1 through September 30 D. Type of Plan Qualified, governmental defined benefit retirement plan; for GASB purposes it is a sole employer plan. E. Eligibility Requirements All full time sworn City police officers, who normally work more than 1,000 hours annually and are not an elected officials, temporary or contractual employees, or executives or depatiments heads who have elected not to patiicipate, will become members on the date of employment. F. Credited Service Service is measured as the total number of years and fractional parts of years, but credited to the nearest one-twelfth (1/12) of a year. No service will be credited for any periods of employment for which the member received a refund of their employee contributions. G. Compensation Base salary or wages paid for services rendered to the City including longevity pay, overtime pay not to exceed 300 hours, cost of living payments, holiday and personal leave taken and incentive pay. Compensation excludes payments of unused personal leave, uniform or equipment allowances, extra duty or special detail pay on behalf of a second party employer, or any reimbursement of expenses. H. Final Average Compensation (FA C) Average monthly rate of Compensation during the highest 60 consecutive months of Credited Service out of the last 120 months preceding the date of termination or retirement. GRS City of Atlantic Beach Police Officers' Retirement System 9/3 0/2015 Actuarial Valuation I E-1 I. Normal Retirement Eligibility: Benefit: Normal Form of Benefit: For members hired prior to January 1, 2013 A pmticipant may retire on the first day of the month coincident with or next following the earlier of: (I) 25 years of Credited Service regard! ess of age, or (2) age 50 with 20 years of Credited Service, or (3) age 55 with IO years of Credited Service, or ( 4) age 60 with 5 years of Credited Service. For members hired on or after January l, 2013 A pmticipant may retire on the first day of the month coincident with or next following the earlier of: (1) Age 55 with I 0 years of Credited Service, or (2) age 52 with 25 years of Credited Se1vice. For members hired prior to January 1, 2013 3.00% ofFAC times Credited Service. Benefit is limited to IOO% ofFAC. For members hired on or after January 1, 2013 2.00% ofFAC times Credited Service. Benefit is limited to IOO% ofFAC. 10 Years Ce1iain and Life thereafter; other options are also available. J. Early Retirement Eligibility: Benefit: Normal Form of Benefit: A member may elect to retire earlier than the Nonnal Retirement Eligibility upon attainment of age 50 with 10 years of Credited Service. The Normal Retirement Benefit is actuarially reduced by 3% for each year by which the member's Early Retirement date precedes the member's normal retirement age. I 0 year certain and life thereafter; other options are also available. K. Delayed Retirement Same as Normal Retirement taking into account compensation earned and service credited until the date of actual employment termination. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I E-2 L. Service Connected Disability Eligibility: Benefit: Normal Form of Benefit: Any member who becomes totally and permanently disabled due to a service related injury or illness and is deemed unable to render useful and efficient service to the City as a police officer is eligible for a disability benefit. The benefit is calculated as if the member was eligible for Normal Retirement and is payable retroactively to the later of; the last day on payroll, or the date of application for disability benefits. The minimum for a service connected disability benefit is 42% ofF AC. 10 year certain and life thereafter. M. Non-Service Connected Disability Eligibility: Benefit: Normal Form of Benefit: Any member with 8 1/3 or more years of Credited Service who becomes totally and permanently disabled and is deemed unable to render useful and efficient service to the City as a police officer is eligible for a disability benefit. The benefit is calculated as if the member was eligible for Normal Retirement and is payable retroactively to the later of; the last day on payroll, or the date of application for disability benefits. The minimum for a non-service connected disability benefit is 25% ofF AC if the member had at least 8 1/3 years of Credited Service. I 0 year certain and life thereafter. N. Pre-Retirement Death Eligibility: Benefit: Nmmal Form of Benefit: Any member with 5 or more years of Credited Service is eligible for a death benefit. Upon the death of a member, the designated beneficiary shall be paid an actuarially reduced standard ten (10) year cetiain and life survivor pension notwithstanding that the member may not have satisfied the conditions for retirement. If there are no beneficiaries designated by the member, then a benefit shall be paid to the surviving spouse or, if no surviving spouse, a reduced benefit will be paid to the member's unmarried children. If spouse is receiving benefits described above, no children's benefits are payable. If spouse is not receiving benefits, children under age 19, or age 23 if an unmarried full time student, will receive equal shares of 50% of the member's Normal Retirement Benefit under the Life Annuity option based upon service and F AC as of the date of death. Payable for the life of the member's beneficiary or spouse. Children's benefits are payable until age 19 or age 23 if an unmarried fulltime student. 0. Post Retirement Death GRS Benefit determined by the form of benefit elected upon retirement. City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I E-3 P. Optional Forms In lieu of electing the Normal Form of benefit, the optional forms of benefits available to all retirees are a Life Annuity, or the 50%, 66 2/3%, 75% or 100% Joint and Survivor options. A Social Security option is also available for members retiring prior to the time they are eligible for Social Security retirement benefits. Q. Vested Termination Eligibility: Benefit: Normal Form of Benefit: For members hired prior to January 1, 2013 A participant has earned a non-forfeitable right to Plan benefits after the completion of 5 or more years of Credited Service. For members hired on or after January 1, 2013 A pmiicipant has earned a non-forfeitable right to Plan benefits after the completion of 10 or more years of Credited Service The benefit is the member's vested p01iion of the accrued Nonnal Retirement Benefit as ofthe date of termination. Benefit begins on the Nonnal Retirement date. 10 year certain and life thereafter; other options are also available. Member's terminating employment with less than 5 years of Credited Service will receive a refund of their own accumulated contributions. R. Refunds Eligibility: Benefit: All non-vested members are eligible. Optionally, vested participants may also withdraw their contributions in lieu of the deferred benefits otherwise due. Vested members may delay withdrawal of funds for up to five years. The member who terminates employment receives a lump-sum payment of their employee contributions with interest. S. Member Contributions 8.0% T. Premium Tax Monies A distribution of casualty insurance premium tax monies collected by the State pursuant to Chapter 185 Florida Statutes. U. Employer Contributions The amount determined by the actuary to pay the normal cost and an amortization of the unfunded actuarial accrued liabilities, along with employee contributions and Chapter 185 monies. Following are assumed contribution rates per recent valuations: GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I E-4 Contribution State Year Beginning City Sec 185 Member Total 10/1/2009 21.07% 5.55% 4.815% 31.44% 10/1/2010 21.66% 4.83% 4.815% 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% 8.000% 54.10% 10/1/2015 52.60% 7.54% 8.000% 68.14% 10/1/2016 56.79% 7.89% 8.000% 72.68% v. Cost of Living Increases The plan does not provide for automatic post-retirement cost of living adjustments (COLA) of retiree benefits. W. Changes from Previous Valuation See the Discussion of Valuation Results Section of this repmt under the Revisions in Benefits heading. X. Gain-sharing benefits Not applicable. Y. Deferred Retirement Option Plan Eligibility: Benefit: Maximum DROP Period: Interest Credited: NmmalFmm of Benefit: Upon obtaining Normal or Early Retirement eligibility. All members must make a written election to pmticipate in the DROP. The member's Credited Service and F AC m·e frozen upon entry into the DROP. The monthly retirement benefit as described under Nonnal Retirement is calculated based upon the frozen Credited Service and FAC. Benefits for members entering the DROP upon Early Retirement eligibility will be actuarially reduced as described for Early Retirement. 60 months Pmticipants' DROP account balances will be credited in accordance with the self-directed options selected by the pmticipant who entered the program prim· to July I, 2013. For all other pmticipants, DROP account balances will be credited or debited quarterly with interest based on Plan's net investment emnings or losses for that quarter. Lump Sum or roll-over to a qualified retirement account. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I E-5 SECTION F COMPARATIVE SUMMARY OF PRINCIPAL VALUATION RESULTS COMPARATIVE SUMMARY OF PRINCIPLE VALUATION RESULTS September 30, 2015 September 30, 2014 A Participant Data Number Included: Actives 19 21 Service Retirees & Beneficiaries 17 16 Disability Retirees 4 4 Terminated Vested Members 6 5 Total Members and Beneficiaries 46 46 Total Annual Payroll $1,246,622 $1,294,600 Expected Annual Payroll in Contribution Year 1,312,639 1,373,048 Total Annualized Benefits Service Retirees & Beneficiaries 612,738 592,341 Disability Retirees 74,159 74,159 Terminated Vested Members 71,724 64,761 B. Assets (Market Value)* Cash and Short Term Investments 2,645,706 2,054, 758 Treasury and Agency Bonds & Notes 0 0 Corporate Bonds 434,533 2,858,312 Common & Preferred Stocks 4,921,487 2,965,659 Mutual Fund Bonds 0 0 Mutual Fund Stocks 0 0 Other Securities 488,041 346,448 Net Receivables & Payables 3,355 (96,913) Total 8,493,122 8,128,264 Actuarial Value 9,029,746 8,269,559 Assets include: Accumulated active member contributions 471,030 432,695 (with interest if applicable) C. Actuarial present value of accrued benefits (i) Vested accrued benefits Retired members and benefitciaries 7,696,314 7,554,788 Terminated members 453,362 398,047 DROP Balances* 488,041 346,448 Excess Premium Tax Liability* 120,454 N/A Active members (includes non-forfeitable members contributions of 471,030 and 432,695) 2,868,753 2,663,136 Total 11,626,924 10,962,419 (ii) Non-vested accrued benefits 61,436 43,788 (iii) Total actuarial p.v. of accrued benefits I 1,688,360 11,006,207 (iv) Actuarial p.v. of accrued benefits at begin. of year 11,006,207 9,438,659 (v) Changes attributable to: Amendments none none Assumption change 0 1,063,466 Operation of decrements 1,114,741 743,250 Benefit payments (553,042) (585,616) Other (Method Change) 120,454 346,448 (vi) Net change 682,153 1,567,548 (vii) Actuarial p. v. of accr. benefits at end of year 11,688,360 11,006,207 *Beginning with September 30, 2014 Valuation DROP balances are being included in Present Value of Accumulated Plan Benefits and in Plan Assets. The Excess Premium Tax Liability is being included beginning with the September 30, 2015 Valuation. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I F-1 GRS COMPARATIVE SUMMARY OF PRINCIPAL VALUATION RESULTS D. Liabilities-Actuarial Present Value of Future Benefits I. Active Members Service Retirement Benefits Vesting Benefits Disability Benefits Preretirement Death Benefits Return of Member Contributions Total Actives 2. Inactive Members Service Retirees & Beneficiaries Disability Retirees Terminated Vested Members Total Inactive Members 3. DROP Balances 4. Excess Premium Tax Liability 5. Total Present Value for All Members Total Present Value of: Future Salaries Future Employee Contributions Future Contributions from Other Sources Derivation of Cunent Employer Unfunded Actuarial Accrued Liability (UAAL) a. Total UAAL for Prior Valuation Date b. Employer Normal Cost for this period c. Interest acccrued on (a) and (b) d. Contributions for this period e. Interest accrued on (d) f. g. Changes due to: Assumptions Plan Amendment Cost Method (Asset Method) Actuarial (Gain) Loss Total Current UAAL: a+b+c-d-e+f City of Atlantic Beach Police Officers' Retirement System September 30, 2015 September 30,2014 $6,140,916 $6,062,400 651,201 495,685 191,223 205,831 47,033 47,624 28,462 90,560 7,058,835 6,902,100 6,910,601 6,755,105 785,713 799,683 453,362 398,047 8,149,676 7,952,835 488,041 346,448 120,454 N/A 15,817,006 15,201,383 11,205,487 11,713,889 896,439 937,111 5,890,821 5,994,721 $4,386,911 $3,466,384 208,220 182,782 321,659 284,622 677,542 659,420 23,714 26,377 0 1,234,336 0 0 0 0 154,573 (95,416) 4,370,107 4,386,911 9/30/2015 Actuarial Valuation I F-2 GRS Original and Current Unfunded Actuarial Accrued Liabilities Item Years Date Description Remaining 9/30/2001 Experience Gain 1 9/30/2002 Experience Loss 2 9/30/2003 Experience Loss 3 9/30/2004 Experience Loss 4 9/30/2005 Experience Loss 5 9/30/2006 Experience Gain 6 9/30/2007 Experience Loss 7 9/30/2008 Experience Loss 8 9/30/2009 Experience Loss 9 9/30/2010 Experience Gain 10 9/30/20 II Experience Loss II 9/30/2012 Experience Loss 12 9/30/2013 Experience Gain 13 9/30/2014 Experience Gain 14 9/30/2015 Experience Loss 15 9/30/1993 Benefit Changes 8 9/30/1994 Benefit Changes 9 9/30/1996 Benefit Changes II 9/30/1997 Benefit Changes 12 9/30/2001 Benefit Changes 16 9/30/2003 Benefit Changes 18 9/30/2007 Benefit Changes 22 9/30/2012 Benefit Changes 27 9/30/1995 Assumption/Method Change 10 9/30/1997 Assumption/Method Change 12 9/30/2009 Assumption/Method Change 24 9/30/2010 Assumption/Method Change 25 9/30/2014 Assumption/Method Change 29 ITOTAL City of Atlantic Beach Police Officers' Retirement System Amortization Payment (266) 22,043 54,865 31,919 42,139 (57,823) 18,584 39,851 38,494 (17,637) 48,821 3,517 (12,099) (9,981) 15,861 74,980 (2,052) 5,405 1,287 10,091 15,505 (4,781) (3,215) 50,662 33,537 3,557 52,781 94,250 $550295 Original Amount Current Unfunded (1,389) (266) 128,212 42,644 339,563 154,062 207,808 115,683 287,225 184,874 (411,559) (294,908) 137,906 107,163 308,022 254,620 323,582 268,352 (154,731) (132,548) 451,201 391,716 32,697 29,894 (115,061) (108, 195) (95,416) (93,399) 154,573 154,573 442,232 479,072 (12,597) (14,302) 35,914 43,364 8,892 10,934 81,627 102,000 144,006 166,884 (49,157) (56,591) (40,750) (41,241) 323,633 380,738 231,795 285,019 40,694 43,650 630,507 658,145 1,234,336 1,238,170 $4,663,764 $4,370,107 9/30/2015 Actuarial Valuation I F-3 COMPARATIVE SUMMARY OF PRINCIPAL VALUATION RESULTS E. Pension Cost Entry Age Nmmal Cost for: Service Retirement Benefits Vesting Benefits Disability Benefits Preretirement Death Benefits Return of Member Contributions Total Actives Administrative Expenses Expected Member Contributions (Assuming employee contrib rate applicable to the contrib year) Total Employer Normal Cost Payment Required to Amortize Unfunded Actuarial Accrued Liability Total Contribution at Valuation Date Total Contribution Adjusted for Frequency of Payments and Interest to Next Following Fiscal Year %of Expected Payroll Amount Expected to be Contributed by Members % of Expected Payroll F. Past Contributions-For the Fiscal Years Ended September 30 of2014 and 2015: Required Contribution Determined in the Valuation as of For the Year Ending: by the Plan Sponsor (Including Expected Premium Tax Revenues) by the Plan Sponsor (Excluding Expected Premium Tax Revenues) Expected Premium Tax Revenues by Members Actual Contribution for the Fiscal Year ended by the Plan Sponsor Premium Tax Revenues by Members G. Net experience (gain) loss during year: GRS City of Atlantic Beach Police Officers' Retirement System Septembe1· 30, 2015 September 30,2014 $212,124 $230,488 41,516 25,244 12,643 13,295 2,093 2,185 11,487 20,549 279,863 291,761 35,984 22,742 101,616 106,283 214,231 208,220 550,295 535,271 764,526 743,491 849,061 825,700 64.68% 60.14% 105,011 109,844 8.000% 8.000% September 30, 2013 September 30, 2012 September 30, 2015 September 30, 2014 $665,091 $654,280 $574,014 $563,203 $91,077 $91,077 $115,414 $98,175 September 30, 2015 September 30, 2014 $574,014 $563,203 $103,528 $96,217 $112,354 $103,095 $154,573 ($95,416) 9/30/2015 Actuarial Valuation I F-4 H. I. Plan to Amortize Unfunded Actuarial Accrued Liability 20 year funding of the Original Unfunded Actuarial Accrued Liability, 15 year funding of any Gains or Losses and 30 year of adjustments due to benefit or assumption changes. 2. Schedule Illustrating the Amortization of the Unfunded Actuarial Accrued Liability (UAAL) Year PI'Ojected UAAL 2015 $4,370,107 2016 $4,087,216 2017 3,784,221 2018 3,483,602 2019 3,220,645 2020 2,973,435 2025 1,794,130 2031 1,213,343 2033 1,038,987 2037 684,483 2041 261,441 3. Action taken since last actuarial valuation. Contribution sufficient to satisfy the total required contribution. GRS City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I F-5 GRS COMPARATIVE SUMMARY OF PRINCIPAL VALUATION RESULTS I. 1. Three-Year Comparison of Actual and Assumed Salary Increases (Annualized) I Year Ended 9/30/2013 9/30/2014 9/30/2015 I Actual I Assumed I 2.3% 7.8% 8.6% 7.5% 7.5% 7.5% 2. Three-Year Comparison ofinvestment Return (Actuarial Value) Year Ended 9/30/2013 9/30/2014 9/30/2015 Actual 7.5% 6.3% 5.3% Assumed 8.0% 8.0% 7.0% 3. Average Annual Growth in Covered Payroll, Last Ten Years (if applicable) Valuation Date Total Covered P 9/30/2005 1,402,444 9/30/2006 1,254,264 9/30/2007 1,452,926 9/30/2008 1,476,074 9/30/2009 1,696,746 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 Total% Increase Last Ten Years (11.11)% Annual % Increase (1.17)% Thirty-year Forecast 3.50% J. Benefits and Expenses of Plan not Explicitly or Implicitly Provided in Valuation NONE K. Trends not taken into Account but which are likely to Result in Future Cost Increases NONE City of Atlantic Beach Police Officers' Retirement System 9/30/2015 Actuarial Valuation I F-6 ORDINANCE NO. 20-16-138 AN ORDINANCE AMENDING THE OPERATING BUDGET FOR THE CITY OF ATLANTIC BEACH, FLORIDA FOR FISCAL YEAR BEGINNING OCTOBER 1, 2015 AND ENDING SEPTEMBER 30, 2016, AND PROVIDING AN EFFECTIVE DATE. AGENDA ITEM #7A JUNE 13, 2016 WHEREAS, the City Charter of the City of Atlantic Beach requires that the City Commission approve all budgetary increases and transfers at the fund level, and WHEREAS, the nature of budgetary systems and those day-to-day decisions affecting such budgetary systems require adjustments from time-to-time, and WHEREAS, the City is amending the operating budget to add net funds totaling $75,000 to cover an estimated increase to legal fees for the balance of the fiscal year. 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 2015/2016 Budget to be amended as follows: GENERAL FUND Expenditures: City Administration -Legal Services Fund Balance: Professional Services-City Attorney Total Expenses: 2. This ordinance shall take effect immediately upon its adoption. Passed by the City Commission on first reading this __ day of 2016. $ 75,000 $ 75.000 <$ 75.000> Passed by the City Commission on second and final reading this __ day of 2016. Mitchell E. Reeves Mayor I Presiding Officer Approved as to form and correctness: Brenna M. Durden, City Attorney ATTEST: Donna L. Bartle, CMC City Clerk Interlocal Agreement for Use of Property Tax Collections to Fund Exemption Audit Services AGENDA ITEM #SA JUNE 13, 2016 THIS AGREEMENT is made and entered into as of the "Effective Date" defined below, and is by and among the DUVAL COUNTY PROPERTY APPRAISER ("PROPERTY APPRAISER"), DUVAL COUNTY TAX COLLECTOR ("TAX COLLECTOR"), and the CITY OF ATLANTIC BEACH, FLORIDA, a municipal government under the laws of the State of Florida (the "TAXING AUTHORITY"). This agreement shall hereinafter be referred to as the "Interlocal Agreement." WHEREAS, the PROPERTY APPRAISER is responsible under Florida law for the administration of ad valorem property tax exemptions, including homestead exemption, and the preparing and filing of tax liens for back taxes related to the removal of undeserved exemptions; and WHEREAS, the TAX COLLECTOR is responsible under Florida law for the collection and distribution of ad valorem property taxes, including back taxes and tax liens, and associated penalties, fees, and interest; and WHEREAS, the TAXING AUTHORITY receives local property tax revenue to fund essential public services; and WHEREAS, the Parties to this Interlocal Agreement recognize that there may be property owners on the Duval County tax roll claiming undeserved and/or fraudulent personal exemptions from ad valorem property tax, such as the homestead exemption (hereinafter collectively referred to as "Personal Exemptions"), which reduces property tax revenue or unfairly shifts the property tax burden to other property owners; and WHEREAS, the PROPERTY APPRAISER and TAX COLLECTOR intend to contract with a duly procured third party vendor (the "Vendor") for audit services to identify properties with undeserved Personal Exemptions for the purpose of collecting taxes due on those properties, which funds would otherwise be unavailable to the TAXING AUTHORITY (hereinafter the "Vendor Audit Agreement"); and WHEREAS, the Vendor shall provide said audit services in exchange for the fee established in the Vendor Audit Agreement, which fee consists of an amount subject to the procurement process but shall in no event exceed twenty-eight percent (28%) of any tax, penalties, and interest collected from tax liens filed by the PROPERTY APPRAISER on parcels identified through a Vendor audit as not being entitled to Personal Exemption(s) (hereinafter, the "Fee"); and WHEREAS, the Fee shall be paid exclusively from the taxes, penalties, and interest collected in relation to the removal of Personal Exemptions as a result of audits performed by the Vendor, it being understood that said Fee: (a) shall not be payable from any current or future taxes that have not yet resulted in a lien; (b) shall not be payable from any tax lien filed by the PROPERTY APPRAISER as a result of the PROPERTY APPRAISER's discovery of an 1 AGENDA ITEM #8A JUNE 13, 2016 undeserved Personal Exemption; and (c) shall not constitute a pledge or general obligation of tax funds or create an obligation on the TAXING AUTHORITY to appropriate or make monies available for the purpose of this Interlocal Agreement; and NOW, THEREFORE, the PROPERTY APPRAISER, TAX COLLECTOR, and the TAXING AUTHORITY agree as follows: TERMS 1. Vendor Audit Agreement. The parties acknowledge and agree that the Vendor Audit Agreement is presently being procured by the PROPERTY APPRAISER and/or TAX COLLECTOR, and shall set forth such terms and conditions associated with that procurement process. Once executed, the Property Appraiser and/or Tax Collector shall deliver a true and correct copy of the Vendor Audit Agreement to the TAXING AUTHORITY for its records. A draft Vendor Audit Agreement is attached hereto as Exhibit A and incorporated herein by this reference; however, the parties understand and agree that during the procurement process, the draft Vendor Audit Agreement may be adjusted to provide for indemnification, insurance, and other legal provisions, and shall provide for the Vendor's Fee in an amount not to exceed twenty- eight percent (28%) of the collected lien resulting from the removal of the undeserved Personal Exemption, and shall provide for the TAX COLLECTOR's administrative fee of two percent (2%) of the collected lien resulting from the removal of the undeserved Personal Exemption. The parties to this Interlocal Agreement agree that in no event shall the fees deducted from the collected Personal Exemption lien payable to the TAXING AUTHORITY exceed thirty percent (30%) (which is the sum of the TAX COLLECTOR's administrative fee and the maximum potential fee payable to the Vendor), which cap is intended to be commensurate with the cap established in the authorizing legislation in Ordinance 2016-168-E of the City of Jacksonville for that respective taxing authority. Once the Vendor Audit Agreement is procured, executed, and a copy delivered to the TAXING AUTHORITY, the PROPERTY APPRAISER and TAX COLLECTOR agree that the Vendor Audit Agreement may not be subsequently amended without the prior written approval of the TAXING AUTHORITY; however, the foregoing condition does not apply to any annual renewals of the Vendor Audit Agreement so long as such renewals are on the same terms and conditions as the original Vendor Audit Agreement and do not extend the expiration date beyond April12, 2021. 2. Effective Date. This Interlocal Agreement shall become effective on the last date of the following: (a) the date that all other taxing authorities in Duval County (to wit: the City of Jacksonville, City of Jacksonville Beach, City of Neptune Beach, School Board of Duval County, St. Johns River Water Management District, and Florida Inland Navigation District) fully execute and deliver their respective interlocal agreements for this matter; (b) the date of execution and delivery of a duly procured and executed Vend or Audit Agreement; and (c) the complete signature and delivery of this Interlocal Agreement. 3. Authorization of Reduced Collections for Fee Payment: As noted in section 1 above, the TAX COLLECTOR is also authorized to deduct an additional two percent (2%) of the lien monies resulting from the removal of the undeserved Personal Exemption collected as an administrative fee; the TAX COLLECTOR's administrative 2 AGENDA ITEM #8A JUNE 13, 2016 fee shall be paid exclusively from the taxes, penalties, and interest collected in relation to lien associated with the removal of Personal Exemptions as a result of audits performed by the Vendor, said administrative fee shall not be payable from any current or future taxes that have not yet resulted in a lien, shall not be payable from any tax lien filed by the PROPERTY APPRAISER as a result of the PROPERTY APPRAISER's discovery of an undeserved Personal Exemption, and shall not be a pledge or general obligation of tax funds or create an obligation of the TAXING AUTHORITY to appropriate or make monies available for the purpose of this Interlocal Agreement. The TAX COLLECTOR shall distribute the remaining tax revenue after deduction of Vendor's Fee and the TAX COLLECTOR'S administrative fee to the TAXING AUTHORITY according to governing Florida law. This Interlocal Agreement does not constitute a pledge or general obligation of ad valorem taxation, or create any obligation on the TAXING AUTHORITY to appropriate or make monies available for any tax year, and does not create the right in any party to compel the exercise of the ad valorem taxing power ofthe TAXING AUTHORITY or any taxing authority. The TAX COLLECTOR agrees, on no less than a quarterly basis, to provide to the TAXING AUTHORITY an accounting of all tax proceeds collected pursuant to the Vendor Audit Agreement, the Fees paid to Vendor, the administrative fees retained by the TAX COLLECTOR, and the total funds distributed to the TAXING AUTHORITY and each taxing authority. Within sixty (60) days of the Effective Date of this Interlocal Agreement, the representatives of each party agree to meet to develop the format and content of the quarterly reports, and also agree to meet at least annually (at a time or times to be determined by the parties) to review the results ofthe Vendor Audit Agreement and this Interlocal Agreement. The TAX COLLECTOR agrees to provide the TAXING AUTHORITY access to its records for review and audit purposes. 4. Termination: This Interlocal Agreement shall automatically renew at the beginning of the TAXING AUTHORITY's fiscal year (July 1) until such time as the Vendor Audit Agreement is terminated or otherwise expires (it being understood, however, that the Vendor Audit Agreement natural expiration date shall be no later than April12, 2021). Upon termination or expiration of the Vendor Audit Agreement, this Interlocal Agreement automatically expires except for such provisions as survive termination as further agreed herein. Any taxing authority, including the TAXING AUTHORITY, may opt out of the Interlocal Agreement provided it notifies the PROPERTY APPRAISER and TAX COLLECTOR in writing at least ninety (90) days before the end of the taxing authority's fiscal year, and such termination shall be effective upon the first day of the following fiscal year of such taxing authority. Notwithstanding the foregoing, the parties recognize that the TAXING AUTHORITY's fiscal year is July 1 through June 30, and as such, its fiscal year commences before the municipal taxing authorities' respective fiscal years that commence October 1. Accordingly, the TAX COLLECTOR and PROPERTY APPRAISER agree to give the TAXING AUTHORITY written notice within ten (10) business days of any other taxing authority's subsequent termination during the TAXING AUTHORITY's fiscal year. Upon receipt of notice regarding such third party taxing authority's subsequent termination, the TAXING AUTHORITY may elect, at its option, to terminate this Interlocal Agreement by written notice to 3 AGENDA ITEM #SA JUNE 13, 2016 be delivered to the PROPERTY APPRAISER and TAX COLLECTOR and to be effective no later than December 31 of that fiscal year. The parties acknowledge that, to the extent feasible, Vendor audit services shall not be provided for any parcel in a specific tax district if any taxing authority in that tax district subsequently withdraws from an agreement or memorandum of understanding for use of property tax collections to fund exemption audit services. Upon termination of this Interlocal Agreement, Fees for all tax liens collected from audits completed by the Vend or in affected taxing authority districts up to the date of the notification of termination shall be payable in accordance with the terms provided by the Vendor Audit Agreement. Because tax liens may not be paid within the term of this Interlocal Agreement, the authorization of reduced collections for Fee payment shall survive the termination of this Interlocal Agreement as follows: the TAXING AUTHORITY's responsibility for payment of the Fees for tax liens collected from audits completed by the Vendor pursuant to the Vendor Audit Agreement during the term of this Interlocal Agreement shall terminate upon the earlier of: (a) the collection and payment of all liens resulting from Vendor audits pursuant to the Vendor Audit Agreement, or (b) such time as agreed to between the Vendor, the PROPERTY APPRAISER, and the TAX COLLECTOR; provided, however, in no event shall Vendor be paid for Fees for tax liens that have expired pursuant to section 95.091, Florida Statutes (providing for the expiration of such liens within twenty (20) years from the date the lien was filed). 5. Severability: Should any provision, portion, or application of this Agreement be determined by a court of competent jurisdiction to be illegal, unenforceable, or in conflict with any applicable law or constitutional provision, or should future changes to Florida law conflict with any portion of this Interlocal Agreement, the parties shall negotiate an equitable adjustment in the affected provisions of this Interlocal Agreement with a view toward effecting the purpose of this Interlocal Agreement, and the validity and enforceability of the remaining provisions, portions, or applications thereof, shall not be impaired. If a future change to Florida law conflicts with or preempts the entirety of this Interlocal Agreement, the Interlocal Agreement will be immediately terminated. 6. Public Records: The parties are public agencies subject to Florida's public records laws, including records retention, production, and confidentiality provisions. The PROPERTY APPRAISER and TAX COLLECTOR agree to retain all records maintained by their agencies and associated with the performance of this Interlocal Agreement in compliance with applicable Florida records retention schedules, and to make all non-confidential or exempt records available for inspection or copying upon request and in compliance with Florida's public records laws. 7. Liability: The PROPERTY APPRAISER retains sole discretion and authority to grant, deny or remove exemptions, or file liens for undeserved Personal Exemptions in accordance with Florida law. All legal costs involving appeals of the removal of Personal Exemptions resulting from audits shall be the responsibility of the PROPERTY APPRAISER. The TAXING AUTHORITY has no decision-making authority in relation to exemptions or liens under this Interlocal Agreement and assumes no liability for any claims, damages, losses, or expenses, direct, indirect or consequential, arising out of or resulting from the actions of Vendor, the PROPERTY APPRAISER, or the TAX COLLECTOR under this Interlocal Agreement or 4 [Continued signature page to Interlocal Agreement for Use of Property Tax Collections to Fund Exemption Audit Services} AGENDA ITEM #SA JUNE 13, 2016 TAXING AUTHORITY THE CITY OF ATLANTIC BEACH, FLORIDA MITCHELL E. REEVES As MAYOR 800 SEMINOLE RD. ATLANTIC BEACH, FL 32233 NELSON VANLIERE As CITY MANAGER 800 SEMINOLE RD. ATLANTIC BEACH, FL 32233 DONNA L. BARTLE, CMC As CITY CLERK 800 SEMINOLE RD. ATLANTIC BEACH, FL 32233 DATE: ------------------------ DATE: ______________________ __ DATE: ______________________ ___ APPROVED AS TO LEGAL FORM For the City of Atlantic Beach: Signature: _______________________ _ City Attorney 7 AGENDA ITEM: SUBMITTED BY: DATE: CITY OF ATLANTIC BEACH CITY COMMISSION MEETING STAFF REPORT Purchase of 54 East Coast Drive Nelson VanLiere, City Manager c:;?V June 1, 2016 AGENDA ITEM #8B JUNE 13, 2016 BACKGROUND: Recently, it was brought to the City's attention that the property located at 54 East Coast Drive is for sale. Being that this property is strategically located just a short walking distance from our Town Center Business District, I wanted to put forth the topic of the purchase of this property for discussion. The public purpose for the acquisition would be to provide much needed parking to the business district. Discussion points would include the following information: • The need for public parking in the area. • The acquisition price is $1,200,000. These funds are available in the General Fund unrestricted fund balance. A budget ordinance would have to be passed to fund the purchase. • The lot is 130 ft by 150ft or 19,500 sq feet. • Changing the current zoning from RG-M to something that a commercial parking lot would be allowed. • Current taxes are approximately $6,000/year, but would increase due to sale of the property. If the City acquires the property, there will be no taxes received. • To develop the site as a parking lot could cost $100,000 to $150,000 depending on how it is constructed. • The number of spaces created would depend on stormwater drainage requirements; a desire to keep some of the trees and the organization of the spaces chosen. Approximately 50 spaces may be configured. • The possibility of making it a paid parking lot to recover the costs over time. BUDGET: The immediate budget impact would be to increase the budget by $1,200,000 plus closing costs and the cost of razing the existing structure. Subsequently, the City would incur cost to make the property useful as a parking lot. RECOMMENDATION: Upon reaching a consensus of the City Commission, direct the City Manager and City Attorney to negotiate a purchase agreement for 54 East Coast Drive for City Commission approval and direct staff to prepare an ordinance amending the operating budget to fund the estimated costs of acquisition. ATTACHMENTS: COJ Property Appraiser parcel information on 54 East Coast Drive Atlantic Beach Zoning Map Aerial Photo of 54 East Coast Drive General Fund Long Term Financial Projection of2016 Photo of House Property Appraiser -Property Details A GENOA JTEM #88 JUNE 13, 2016 Gross Heated Effective Heating Fuel 4 4 Electric ~P.e Area Area Area Heatin g Type " 4 forced ·DUcted Fin Screen ed 200 0 70 Air Con d 3 3 Central Porch ~-, Base Area 1327 1327 1327 rF1 I) r1 Element Cod e L~J I&S ~~ Anlshed Open 16 0 s _ ___J Porch Stories 1.000 unnn oet Bedrooms 3.000 324 0 162 Ga rage Bath s 1.000 Total 1867 1327 1564 Roo ms I units !.000 Traversing Data FSP:10,27:=Wl0 N20 ElO 520 $ BAS :10,32:=N32 E46 527 W29 55 W17 $ FO P:56,11:=E4 54 W4 N4 $ UDG:88,28:=N18 ElS 518 W18$. 2015 Notice of ProJ)osed Property Taxes Notice £TRIM Notice Iaxl ng Q!sttl~ Assesse d Value Exemptions Ta Ka ble Value Last Year Proposed Rolled· back Gen Govt Beaches $358,983.00 $50,000 .00 $308,983.00 $2,495.36 $2,5 18.58 $2,385.81 Public Schoo ls: By State Law $358,98 3.00 $25,000 .00 $333,983.00 ~1,674.54 $1,626.16 $1,63?.82 By Local Board $35 8,983.00 $2 5,000 .00 $333,983.00 $744 .39 $750.79 $728.08 FL Inland Navigation Dlst. $35 8,983.00 $50,000.00 $308,983.00 $10.5 6 $1 0.66 $9.89 Atla ntic Beach $358,983.00 $50,000.00 $308,983.00 $1,0 18.97 $1 ,028.45 $975 .37 Water Mgmt Olst. SJRWMD $358,983.00 $50,000.00 $308,983.00 $96.86 $93.•11 $93.4 1 Gen Gov Voted $358,983.00 $50,000.0 0 $308,983.00 $0 .00 $0.00 $0.00 School Board Voted $358,983.0 0 $25,000.00 $333,9 83.0 0 $0.00 $0.00 $0.00 Urban Serv ice DlstJ $358,983.0 0 $50,000.00 $308,983.00 $0.00 $0 .00 $0.00 Tota ls $6,040.68 $6,028.05 $5,830.38 Just Value Assessed Valu e !!e!!l ptl ~ TaKable Value Last Year $868,364.00 $356 , 1.34.00 $50,000.00 $306,13'\.00 ---Current Yea r $1,008,682.00 $3 58,9 83 .00 $50,000.00 $3 08,983.00 2015 TRIM propertv Record Card CPRC) Th is PRC reflects prop erty deta il s and va lues at th e t ime of the original mail in g of the Notices of Proposed Property Ta)(es (TRIM Notices) In August. Property Record Card (PRC) The PRC accessed below reflects property details and values at th e time of Ta x Roll Certi fication In October of th e year li sted . 2111.5 2014 • To obtain a historic Property Record Card (PRC) from the Property Appra iser's Office, submit your request here: More Information ~ I Pa rce l Tax Reco rd I ~ I Ma g t h!s prop erty on Google Maps I (lty Fees Record http://apps.coj .net/PAO _PropertySearch/Basic/Detail.as px?RE= 1697370010 5/29/2016 AGENDA ITEM #8B City of Atlantic Beach Jl]NE 13,2016 Long Term Financial Plan Projection Summary General Fund Actual Actual Estimate Budget Proj. Proj. Proj. Proj. Proj. Proj. Proj. Proj. Proj. FY-13 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-20 FY-21 FY-22 FY-23 FY-24 FY-25 Cash Balance Forward 5,999,741 6,178,222 6,522,475 6,603,516 6,603,516 6,109,072 5,842,229 5,652,023 5,759,464 5,959,845 6,499,296 7,052,613 8,082,327 Revenues Taxes 5,069,752 5,044,296 5,191,889 5,489,037 5,697,169 5,913,284 6,137,692 6,370,712 6,612,680 6,863,941 7,124,856 7,395,799 7,677,159 Licenses and Permits 830,708 863,978 880,975 903,350 930,351 958,159 986,800 1,016,298 1,046,678 1,077,968 1,110,195 1,143,386 1,177,570 Intergovernmental Revenues 1,567,424 1,634,354 1,686,170 1,779,142 1,832,284 1,887,020 1,943,398 2,001,467 2,061,279 2,122,885 2,186,339 2,251,696 2,319,015 Charges for Services 2,161,325 2,200,952 2,328,435 2,259,665 2,326,196 2,394,707 2,465,259 2,537,913 2,612,730 2,689,776 2,769,118 2,850,824 2,934,965 Fines and Forfeitures 224,294 93,469 82,320 82,000 84,460 86,994 89,604 92,292 95,060 97,912 100,850 103,875 106,991 Miscellaneous Revenues 280,707 301,347 179,293 163,731 145,303 139,173 136,494 135,004 111,626 113,070 114,556 116,085 57,659 lnterfund Transfers 975,454 1,066,503 999,210 1,045,874 1,071,487 897,776 1,118,766 1,146,291 1,174,548 1,203,556 1,233,335 1,263,376 1,313,362 Total Revenues 11,109,664 11,204,899 11,348,292 11,722,799 12,087,248 12,277,113 12,878,012 13,299,977 13,714,601 14,169,108 14,639,248 15,125,041 15,586,722 Other Financing Sources Total Resources 17,109,405 17,383,121 17,870,767 18,326,315 18,690,765 18,386,186 18,720,241 18,952,000 19,474,065 20,128,953 21,138,544 22,177,654 23,669,049 Expenditures by Department Governing Body 40,225 38,324 41,315 40,384 40,892 41,412 41,939 42,476 43,022 43,577 44,141 44,715 45,298 City Administration 2,363,786 2,487,038 2,508,734 2,418,498 2,812,328 2,584,362 2,844,004 2,792,896 2,824,837 2,870,576 2,922,650 2,885,531 2,972,051 Planning and Zoning 151,766 116,794 250,710 149,364 157,616 163,604 166,911 171,171 175,774 179,709 182,909 178,355 184,513 Public Safety 4,916,804 5,011,182 5,167,154 5,767,701 6,079,112 6,200,279 6,337,681 6,498,419 6,594,943 6,642,625 6,967,675 6,995,852 7,027,688 Public Works -Streets 1,457,343 1,658,766 1,546,301 1,572,712 1,663,247 1,692,076 1,714,148 1,694,462 1,803,183 1,807,634 1,830,530 1,838,226 1,896,722 Parks and Recreation 1,035,707 1 '159,263 1,271,066 1,286,900 1,331,771 1,350,594 1,436,358 1,450,601 1,491,928 1,511,289 1,548,436 1,555,095 1,605,742 General Government 782,697 389,280 481,971 487,240 496,726 511,629 527,176 542,511 580,534 574,246 589,590 597,553 616,629 Total Expenditures 10,748 328 10 860,646 11 267,251 11 722 799 12,581,692 12,543,957 13,068,217 13,192 536 13,514 220 13,629 656 14,085 931 14 095,327 14 348,643 Revenues Less Expenditures 361,336 344,253 81,041 0 -494,444 -266,844 -190,205 107,440 200,381 539,452 553,317 1,029,715 1,238,078 Other Financing Uses 182,855 Total Cash Reserves 6,178,222 6,522,475 6,603,516 6,603,516 6,109,072 5,842,229 5,652,023 5,759,464 5,959,845 6,499,296 7,052,613 8,082,327 9,320,406 Restricted Cash 2,842,745 2,589,502 2,657,904 2,836,042 2,923,853 2,998,196 3,088,386 3,150,151 3,226,447 3,292,379 3,384,299 3,406,334 3,474,163 Unrestricted Cash 3,335,478 3,932,974 3,945,613 3,767,474 3,185,219 2,844,033 2,563,637 2,609,313 2,733,398 3,206,917 3,668,314 4,675,993 5,846,242 Total Exp. & Cash Reserves 17109405 17 383,121 17 870,767 18,326,315 18,690 765 18,386 186 18 720,241 18 952,000 19 474 065 20 128,953 21 138,544 22 177,654 23,669,049 Resource Allocation Personnel Services 7,002,341 6,889,650 6,820,003 7,453,033 7,655,611 7,849,166 8,071,989 8,207,282 8,368,226 8,512,742 8,742,821 8,689,504 8,815,390 Operating 3,168,637 3,468,357 3,811,612 3,891,136 4,039,801 4,143,617 4,281,556 4,393,322 4,537,561 4,656,773 4,794,374 4,935,832 5,081,263 Capital Outlay 546,350 502,639 635,636 378,630 886,280 551,173 714,673 591,933 608,433 460,141 548,736 469,990 451,990 Transfers Out 31,000 0 0 0 0 0 0 0 0 0 0 0 0 Total Expenditures 10,748,328 10,860 646 11 267,251 11,722,799 12,581,692 12,543,957 13,068,217 13,192 536 13,514 20 13 629,656 14,085 931 14,095,327 14 348,643 139 Atlantic Beach, FL Code of Ordinances Chapter 17-SIGNS AND ADVERTISING STRUCTURE91l Footnotes: ---(1) --- AGENDA ITEM #8D JUNE 13, 2016 Editor's note-Section 1 of Or d. No. 60-97-10, adopted july 14, 1997, amended Ch. 17 in its entirety to read as set forth herein. Formerly, Ch. 17 consisted of§§ 17-1-17-18 and 17-31-17-35, which contained similar provisions and derived from§§ 20-1-20-8, 20-10-20-22,20-24 of the 1970 Code; Ord. No. 60-81-4, § 1, adopted july 13, 1981; Ord. No. 60-88-5, § 1, adopted jan. 11, 1989; Ord. No. 60-94-8, § 1, adopted july 25, 1994; and Ord. No. 60-97-9, § 1, adopted Feb. 24, 1997. Subsequently, Or d. No. 60-02-12, §§ 2 and 3, adopted September 9, 2002, repealed and replaced Ch. 17, §§ 17-1-17-35, with a new Ch. 17, intended for use as Art./,§ 17-1, Art. II,§ 17-2, Art. Ill,§§ 17-3-17-10, Art. IV,§§ 17-11-17-13, Art. V, §§ 17-14-17-30, and Art. VI,§§ 17-31-17- 34. To preserve the style of the Code, these new provisions have been included as set forth herein at the discretion of the editor. Former Ch. 17 pertained to similar subject matter, and derived from Ord. No. 60-79-9, § 1, adopted February 24, 1997, Ord. No. 60-97-10, § 1, adopted july 14, 1997, and Ord. No. 60-01-11, § 1, adopted December 10, 2001. Cross reference-Buildings and building regulations, Ch. 6; planning/zoning/appeals, Ch. 14; occupational license for advertising,§ 20-59; zoning and subdivision regulations, Ch. 24. State Law reference-Authority to establish sign ordinances, F.S. § 166.0425; outdoor advertisers, F.S. Ch. 479. ARTICLE I. -IN GENERAL Sec.17-1. -Intent. The city commission recognizes that there are various persons and entities that have an interest in communicating with the public through the use of signs that serve to identify businesses and services, residences and neighborhoods, and also to provide for expression of opinions. The commission is also responsible for furthering the city's obligation to its residents and visitors to maintain a safe and aesthetically pleasing environment where signs do not create excessive visual clutter and distraction or hazards for pedestrians and vehicles; where signs do not adversely impact the predominantly residential character of the city and where signs do not conflict with the natural and scenic qualities of the city. It is the intent of the commission that the regulations contained in this chapter shall provide uniform sign criteria, which regulate the size, height, number and placement of signs in a manner that is compatible to the residential scale and character of the city, and which shall place the fewest possible restrictions on personal liberties, property rights, free commerce, and the free exercise of Constitutional rights, while achieving the city's goal of creating a safe, healthy, attractive and aesthetically pleasing environment that does not contain excessive clutter or visual distraction from rights-of-way and adjacent properties; the surrounding natural coastal environment and residential neighborhoods. (Ord. No. 60-02-12, § 2, 9-9-02) Sec. 17-2.-Definitions and references to other chapters within this Code. For purposes of this chapter, the following terms shall have the meanings as set forth within this section. Where appropriate, definitions contained within other chapters of this Code, including chapter .Q, building and building regulations, and chapter 24, zoning, subdivision and land development regulations, shall also apply to this chapter. Advertising message: The letters and graphics on a sign intended to directly or indirectly promote the sale of a product, service, commodity, entertainment or real or personal property. This definition shall also be deemed to include political copy intended to directly or indirectly promote a candidate or issue. "Advertising message" shall not include signs or portions of signs that are defined as a public sign. about: blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 Animated sign: Any sign or part of a sign, including the advertising message, which changes physical position by any means of movement. Automatic changeable message device: Any sign, which through a mechanical, electrical, solar, or other power source is capable of delivering messages, which rotate or appear to rotate, change or move at any time and in any way, including tri-vision or any multi-prism sign faces. Awning sign: (See also Marquee sign.) A sign painted onto or adhered to a marquee or awning type structure constructed of an open frame covered by fabric, vinyl, plastic, metal, or similar material. Awning sign shall include canopy sign. Banner sign: A temporary sign made of lightweight fabric or similar material intended to promote special seasonal, civic or community events. Bracket sign: Any single or double-faced sign mounted on brackets, poles or beams projecting at angles from the front or side of any building and supported solely by such brackets, poles or beams. Building sign: Any sign that provides the name or address of a building, as opposed to the name of the occupants or services located within that building. Canopy sign: See Awning sign. Development parcel: For the purposes of this chapter, a development parcel shall be a parcel of land, a lot or a combination of lots upon which uses regulated by these sign provisions are located. This definition may include a single use or business, or a collection of uses or businesses developed in a unified manner. Directional sign: Any sign that solely serves to designate the location of, or provides direction to, any place or area. Signs, which contain logos, or graphics commonly associated with a service or business shall be included in the signs allowed for that site or business. Double-faced sign: A sign with two (2) sides that are usually but not necessarily parallel. Exempt signs: Signs as set forth within section 17-26 of this chapter, which are exempt from certain requirements of this chapter. Fascia sign: Any sign attached to or installed against a wall of a building. "Fascia sign" includes wall signs, and cabinet and panel type signs, and signs located on the fascia of a roof, or affixed to a roof plane, provided such sign does not extend above the height of the roof. Flag: A piece of cloth or similar material having a distinctive size, color, and design used as a symbol, standard, signal and other similar items of recognition and may include insignias of governmental, religious, charitable, fraternal or other organizations. Any flag and pole or attachment that frequently holds a flag shall be deemed a permanent flag. Flashing sign: Any sign which uses an external or internal intermittent light source, which results in changing light intensity (including on-off-on), brightness or color, or which is constructed and operated so as to create an appearance of illusion of motion or creates movement by any means. about: blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #SD JUNE 13, 2016 Freestanding sign: Any sign, which is incorporated into or supported by structures or supports in or upon the ground, independent of support from any building. Freestanding sign includes pole sign, pylon sign, ground sign or monument sign. Ground sign: See Freestanding sign. Height of sign: The vertical distance measured from the lowest grade adjacent to the sign extending to the topmost portion of the sign structure, including any frame, embellishment or other type of upward extension from the sign. Marquee sign: Any sign adhered or attached to a permanent roof-like structure, including awnings and canopies projecting beyond a building wall at an entrance to a building or extending along and projecting beyond the building wall and generally designed and constructed to provide protection against the weather. Marquee signs shall include all signs placed upon any type of marquee, canopy, awning, or similar structure. Monument sign: A type offreestanding sign placed upon the ground independent of support from the face of a building that generally has greater width than height and typically constructed of a solid material such as wood, masonry or high-density urethane. Non-conforming sign: Any sign, which was lawfully erected with properly issued sign permits, but which does not comply with the land use, setback, height, size, spacing, and lighting or other provisions of these regulations or other laws, as may be amended. Obscene sign: Any sign containing statements, words, pictures or symbols of an obscene nature. The word obscene shall be as defined in F.S. 847.001, as may be amended from time to time. Pennants: Any small, single flag-like piece of cloth, plastic or paper attached to any staff, cord, building, or other structure at only one (1) or two (2) edges, the remaining hanging loosely; lacking the insignia of a flag. Personal expression sign: Any sign containing a message of non-commercial opinion or endorsement and not containing a commercial advertising message. Pole sign: See Freestanding sign. Political campaign sign: Any temporary sign, as may be authorized under this chapter, erected or displayed for the purpose of advertising a qualified candidate on any primary, general, or special election ballot within the City of Atlantic Beach. Portable sign: A sign that may be mobile and has no permanent attachment to a building or to the ground by means of a footing, including signs with wheels designed to be pulled or towed on a trailer or similar towing device. Projecting sign: See Bracket sign. Public sign: Any sign placed and maintained by the City of Atlantic Beach, Duval County, the State of Florida, the United States Government, a public utility, school district, or other duly authorized public agency. Public signs may be placed in locations as determined necessary and appropriate by the public about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 agency and shall include public information signs, public identification signs, public directional signs, banner signs, and street name signs installed by a public agency, traffic control signs, warning signs and similar signs. Pylon sign: See Freestanding sign. Roof sign: Any sign attached to a building or the roof structure of a building by any means, which extends above the height of the roof or roof plane. Sign: Any identification, description, illustration, or device illuminated or non-illuminated, which is visible from any outdoor place, open to the public and which directs attention to a product, service, placed, activity, person, institution, or business thereof, including any permanently installed or situated merchandise; or any emblem, painting, banner, pennant, flag, placard, designed to advertise, identify, or convey information, with the exception of customary window displays, official public notices and court markers required by federal, state or local regulations; also excepting, newspapers, leaflets and books intended for individual distribution to members of the public, attire that is being worn, badges, and similar personal gear. Sign display area: The sign display area shall be defined as the area enclosed within any geometric figure, which would enclose all parts of the advertising message of the sign. The structural supports for a sign, whether they are columns, pylons, or a building or part thereof, shall not be included in the sign display area. Sign face area: The part of the sign, including all frame, trim and background, which contains the sign display area, advertising message or informative contents. Sign permit: A development permit authorizing erection, placement or installation of a sign as permitted by this chapter in accordance with the requirements of article V of this chapter. Sign structure: Any structure that supports, has supported, or is capable of supporting a sign, including decorative covers and embellishments. Snipe sign: Any sign of any material, including paper, plastic, cardboard, wood or metal when tacked, nailed or attached in any way to trees, poles, stakes, fences, the ground, or other objects where such sign may or may not be applicable to the present use of the property upon which such sign is located. Vehicle sign: Any sign placed within, upon or affixed to a motorized vehicle, other than a registered logo, trademark or service mark that is attached to a motorized vehicle. Vehicle signs shall not include political campaign signs, personal expression signs, bumper stickers, decorative decals and the like, provided these are otherwise in compliance with the provisions of this chapter. Wall sign: See Fascia sign. Width of sign: The horizontal distance measured from one (1) edge of the sign structure extending to the opposite edge of the sign structure, including any frame, embellishment or other type of extension from the sign. about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 Window sign: Any sign placed inside a window of a building, facing the outside and which is intended to be seen from the exterior. Window signs shall be included in the signs allowed for that site, activity or business. (Ord. No. 60-02-12, § 2, 9-9-02; Ord. No. 60-13-18, § 1, 3-25-13) Sees. 17-3-17-25.-Reserved. ARTICLE II.-SIGNS PERMITTED Sec. 17-26.-Exempt signs. (a) Within all non-residential zoning districts, the following signs shall be considered as permitted signs and shall be exempt from the requirement to obtain a sign permit as set forth within article Vofthis chapter: (1) Decals, limited to those as required by law, which are affixed to or painted upon store windows, store equipment, fuel pumps or other types of vending equipment used for dispensing retail products. (2) Lettering only, for the purpose of providing ownership, licensing and emergency contact information, when placed upon doors and windows of lawfully licensed businesses, with letters not exceeding three (3) inches in height and limited to a maximum area of two (2) square feet. (3) Signs within a building that are not visible from the exterior of the building. This shall not include window signs affixed to the interior of windows, which are visible from the exterior. (4) Building signs, historical markers, memorial signs, tablets or plaques, or the name of a building and the date of erection, when the same are cut into any masonry surface or when constructed of bronze or other similar noncombustible material. (5) Professional nameplates for physicians, surgeons, dentists, musicians, lawyers, architects, teachers and other like professional persons placed on the premises occupied by the person (s), not exceeding one (1) square foot in sign face area, provided such professional has a valid occupational license as may be required for the particular profession to operate on those premises. (6) Signs denoting only the name and profession of an occupant of a building, placed flat against the exterior surface of the building and not exceeding three (3) square feet in sign face area, provided such occupant has a valid occupational license as may be required to operate on those premises. (7) Signs depicting only time and temperature. (b) Within all zoning districts, the following signs shall be considered as permitted signs and shall be exempt from the requirement to obtain a sign permit as set forth within article V of this chapter: (1) Not more than one (1) real estate sign advertising the sale, rental or lease of only the premises on which the sign is located. Such signs shall not exceed six (6) square feet in area, and five (5) feet in height. Signs advertising the sale, rental or lease of property exceeding this size and height shall not be considered as exempt signs and shall be subject to the provisions of section 17-29(d). (2) Signs noting the architect, engineer or contractor for a development project when placed upon work under construction, provided the sign shall be removed within fifteen (15) days of completion of construction. Such signs shall not exceed six (6) square feet in size or eight (8) feet in height. about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #SD JUNE 13, 2016 (3) Signs as required by law to display building permits or other similar required public notices. (4) Public signs, banner signs, traffic signs, street name signs, legal notices, danger signs and temporary emergency, informational or non-advertising signs, when erected by city, county, state or federal authorities. (5) No trespassing and private property signs not exceeding two (2) square feet in area. Such signs shall not be displayed from or attached to trees, utility poles or any type of utility structure or equipment, including lift stations, fire hydrants and the like. (6) Vacancy or no vacancy signs not exceeding two (2) square feet in area. (7) Temporary political campaign signs announcing the candidacy of a qualified candidate for public office not exceeding four (4) square feet in area may be placed wholly within the boundaries of any property, at the discretion or consent of the legal owner and/or occupant of the property, provided such signs conform with all traffic, electrical, maintenance, fire and safety regulations of the city. The placing of political campaign signs on city property, other public property or on public rights-of-way shall be prohibited. Political campaign signs displayed within motor vehicles conducting routine business activities on city or other public property shall not be prohibited, provided that no such vehicle shall be parked on city property, other public property or on public rights-of-way for the sole purpose of displaying political campaign signs. Illegally placed political campaign signs shall be removed by the code enforcement officer without notice to the candidate or abutting property owner or occupant. Political campaign signs shall not be placed on property prior to qualification of the candidate to run for office, and all such signs shall be removed within seventy-two (72) hours after the last election. If such signs are not removed within this period of time, the city may remove such signs and may charge the candidate the actual cost for such removal. Collected funds shall be deposited into the city general revenue. Failure to remove signs is a violation of this Code and is enforceable pursuant to F.S. Chapter 162, Code Enforcement. (8) Personal expression signs limited to one (1) per lot or parcel, or in the case of multi-family uses, one (1) per dwelling unit, expressing personal views or opinions not exceeding four (4) square feet in area, providing such signs are otherwise in compliance with applicable local, state and federal laws. (9) Religious symbols. (1 0) Garage sale signs or open house signs within residential zoning districts, not exceeding four (4) square feet in size, limited to two (2) per site and located only at the location of such event. Such signs may be displayed one (1) day before the garage sale or open house and shall be removed immediately after conclusion of the event. No garage sale sign or open house sign may be erected upon any public right-of-way. (11) Signs placed within interior courtyards, the inside fence line of recreational fields and on golf courses, provided such signs are visible only to those persons visiting such place and are otherwise in compliance with this chapter. (12) Address and street number signs not exceeding two (2) square feet. (13) Holiday and seasonal decorations shall not be construed as signs, providing that these contain no commercial advertising message. (14) about: blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 Not more than two (2) flags per development parcel, but if there are two (2) flags, then one (1) must be the flag of the United States of America. A development parcel with more than one (1) principal structure may have two (2) flags for each principal structure with more than five thousand (5,000) square feet of fully enclosed floor area. Each flag shall not exceed twenty- four (24) square feet in area; however, this size limitation shall not apply to United States of America flags at public buildings and parks. (Ord. No. 60-02-12, § 2, 9-9-02; Ord. No. 60-13-18, § 2, 3-25-13) Sec. 17-27. -General provisions applying to all permitted signs. All signs shall be subject to the following general provisions. (1) No sign shall be installed, erected or placed prior to issuance of a sign permit as required by article VI of this chapter, except for exempt signs as set forth in section 17-26. Signs shall be located only on property where the sign serves to provide an advertising message for that property. (2) All signs shall be engineered and constructed as required by these regulations and the Florida Building Code. Signs shall be professionally designed, lettered and constructed. (3) Signs constructed for the purpose of displaying an advertising message shall be constructed of materials suitable to withstand weather related deterioration and shall not be constructed of plywood, cardboard, paper or other such materials, which deteriorate quickly when exposed to normal weather conditions. (4) No sign shall create a traffic or fire hazard, or be dangerous to the general welfare or interfere with the free use of public streets or sidewalks. (5) No sign shall be attached to or placed against a building in any manner which impedes or blocks ingress or egress through any door or window of any building, nor shall any sign obstruct or be attached to a fire escape. (6) No sign shall be erected near the intersection of any street in such a manner so as to obstruct free and clear vision, or at any location where, by reason of position, shape or color, it may interfere with, obstruct the view of, or be confused with any authorized traffic sign, signal or device, or which makes use of any word or words commonly used on traffic-control signs or signals. (7) Where the rear of any sign structure is visible from any street or from any adjoining residential zoning district, all exposed structural and electrical components of any such sign shall be concealed in a manner as approved by the city manager. (8) Fascia or wall signs, shall be mounted directly upon the surface of the building, and shall not be mounted upon exposed raceways, or other type of protrusions from the surface of the building. (Ord. No. 60-02-12, § 2, 9-9-02; Ord. No. 60-03-14, 7-14-03) Sec. 17-28. -Signs permitted within residential zoning districts. (a) Except for exempt signs as provided for in section 17-26, signs within residential zoning districts, shall be limited to those as set forth below. ( 1) about: blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 For single-family and two-family residential subdivisions and developments containing ten (1 0) or more residential lots, where individual lots are accessed from a common internal roadway, one (1) sign identifying the name of the subdivision shall be allowed at each entrance from a collector or arterial street, not to exceed two (2) signs. a. Size permitted: Thirty-two (32) square feet of sign face area. b. Maximum height of sign: Eight (8) feet. c. Type allowed: Freestanding ground or monument style. Where more than one (1) sign is allowed, each such sign erected shall be constructed and designed in the same manner. d. Illumination: These signs shall be externally illuminated with ground mounted lighting only. Any lighting shall project from the ground onto the sign only, and shall not be directed towards any street or residential lot. (2) For multi-family residential uses, one (1) sign identifying the name of the multi-family development shall be allowed at each entrance not to exceed two (2) signs. Internal directional signs and signs identifying buildings shall also be allowed limited to three (3) feet in height and eight (8) square feet in sign face area. a. Size permitted: Sixty (60) square feet of sign face area. b. Maximum height of sign: Eight (8) feet. c. Type allowed: Freestanding ground or monument style. Where more than one (1) sign is allowed, each such sign erected shall be constructed and designed in the same manner. d. Illumination: These signs shall be externally illuminated with ground mounted lighting only. Any lighting shall project from the ground onto the sign only, and shall not be directed towards any street, vehicular drive or residential unit. (b) Signs, as set forth with above paragraph (a), that are located within public or dedicated rights-of- way shall be approved by the city commission. Such signs may be approved at the time of final plat approval as set forth by section 24-202 of this Code, or alternatively, such signs may be approved upon specific application to the commission. Approval of the city commission shall be required prior to the issuance of a sign permit. Such signs shall complement and conform to the "WELCOME TO ATLANTIC BEACH" signs in features including lettering, color, composition, structural materials, finished surface, and shall be constructed of wood or similar material giving the finished appearance of carved or sandblasted wood, as described within section 17-32. (Ord. No. 60-02-12, § 2, 9-9-02) Sec. 17-29.-Signs permitted within commercial and industrial zoning districts. Subject to the provisions as set forth within this section, the following signs shall be permitted within commercial professional office (CPO), commercial limited (CL), commercial general (CG), central business district (CBD), and industrial, light and warehousing (ILW) zoning districts. Except as specifically exempted in section 17-26, and further subject to issuance of a sign permit, no other signs or advertising device shall be displayed or erected within the city. (a) Fascia signs. (1) Fascia signs for buildings with a single business or occupant. about:blank a. Size permitted: One (1) square foot of sign face area for each linear foot of the building width that faces the street frontage, provided that the total sign age shall not exceed two hundred (200) square feet of sign face area, including buildings on corner lots. 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 (For example, if the width of the building facing the front of the lot is fifty (50) feet, the maximum total sign face area for all fascia signs is fifty (50) square feet.) If the building is on a corner lot then the widths of the building facades facing multiple street frontages can be added together to determine the total signage area, but in no cases shall the total fascia signage exceed two hundred (200) square feet nor shall an individual sign exceed the square footage corresponding to the linear width of the building side on which that sign is posted. In no case, shall any individual sign as described above, exceed one hundred (1 00) square feet in sign display area except for buildings that face the front lot line, as defined in this Code, by a distance of more than one hundred (1 00) linear feet, which may have an individual sign display area up to a maximum of two hundred (200) square feet depending on the amount of building frontage. (2) Number of fascia signs permitted: Not more than three (3) fascia signs shall be allowed on any one (1) side of the building. Where fascia signs are placed upon more than one (1) side of the building, the combined sign face area shall not exceed the amount permitted by subsection (a)(1 )a. above. [(3)] Fascia signs for buildings with multiple businesses or occupants. a. Size permitted: One (1) square foot of sign face area for each linear foot of the unit(s) occupied by one (1) business or occupant, provided that the total signage shall not exceed two hundred (200) square feet for any one (1) business. If the business or occupant is on the corner, then the widths of the unit(s) occupied by the business or occupant that are facing multiple street frontages can be added together to determine the total signage area, but in no case shall the total signage for particular business or occupant exceed two hundred (200) square feet, nor shall any individual sign exceed the square footage corresponding to the linear building footage. (For example, if the width of a unit or several units, occupied by one (1) business is twenty- four (24) feet, then one (1) sign, a maximum of twenty-four (24) square feet of sign face area is permitted.) In no case, shall any individual sign as described above, exceed one hundred (1 00) square feet in sign area except for buildings that face the front lot line, as defined in this Code, by a distance of more than one hundred (1 00) linear feet, which may have an individual sign display area up to a maximum of two hundred (200) square feet depending on the amount of building frontage. b. Required spacing between signs on buildings: Fascia signs shall be separated by a minimum distance of seventy-two (72) inches. (b) Bracket or marquee signs. In lieu of the above described fascia signs, a business or permitted use may install a single bracket sign or marquee sign in accordance with the following provisions: (1) Size permitted: The maximum size of a bracket sign or a marquee sign shall be determined in the same manner as a fascia sign, provided that no such sign shall have more than sixty (60) square feet of projected sign face area. a. There shall be no more than twelve (12) inches of clear space adjacent to the building wall, and such signs shall not extend or project from the face of the building more than ten (1 0) feet. b. No portion of such sign shall extend above the height of the roof. about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 c. No portion of such sign shall be closer than eight (8) feet to any sidewalk or pedestrian walkway, and no closer than five (5) feet from any street side property line. All such signs shall be securely anchored to a wall and shall in no manner be connected to or suspended from the roof of any building. (2) Within the central business district only. In addition to other permitted signs, uses limited only to retail establishments, restaurants, cafes and coffee shops, may install a single bracket sign extending above a public sidewalk or pedestrian walkway. The purpose of this provision is to provide appropriate and consistent signage for the unique pedestrian environment of the town center area. Such signs shall be located only in accordance with the following provisions and upon issuance of a sign permit: a. May be located only above first floor entryways or first floor windows with no portion of the sign display area exceeding ten (1 0) feet above the established grade of the adjoining sidewalk or walkway; b. Shall provide minimum vertical clearance of eight (8) feet above the sidewalk or walkway; c. Shall provide minimum clearance of six (6) inches from the building facade; d. Shall be separated from any other such sign by a minimum of twenty (20) feet; e. Shall not exceed three (3) feet in horizontal width and two (2) feet in vertical depth; f. Shall give the appearance of traditional wood routed or sandblasted signs. Materials such as high density urethane (HDU) and recycled high density polyethylene (HDPE) plastics, which give a similar appearance, shall be acceptable substitutes; g. Shall be externally illuminated only and shall contain no electrical components; and h. Shall create no safety hazard or obstruction to the public's use of the sidewalk or walkway as determined by the director of public safety. (c) Freestanding signs. In addition to the above signs, freestanding signs may be permitted as set forth below: (1) Size permitted: One (1) square foot of sign display area for each linear foot of frontages of the development parcel on which the sign(s) are placed, provided no such sign shall exceed ninety-six (96) square feet of sign display area, or eight (8) feet in height and twelve (12) feet in width, except as provided in subsection (c)(2)b. below. (2) Number of freestanding signs permitted: a. Development parcels with street frontage shall be permitted one (1) freestanding sign for each one hundred (1 00) feet of linear street frontage, up to a maximum of three (3) freestanding signs. b. Development parcels with street frontage upon more than one (1) street, shall be permitted one (1) additional freestanding sign on each street side of the development parcel. c. Required distance from property lines: No portion of any freestanding sign shall be located closer to the property line than five (5) feet. Additional distance from property lines may be required if determined necessary by the director of public works, to maintain clear vehicular and pedestrian sight distance. Freestanding signs shall not about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 be located so as to interfere with clear vehicular or pedestrian sight distance. Further, signs determined by the director of public safety to interfere with safe sight distance for pedestrians or vehicles shall be immediately removed. (3) Within commercial general (CG) and commercia/limited (CL) zoning districts only. Alternatively, on development parcels with street frontage of three hundred (300) linear feet or more shall be permitted one (1) freestanding sign not to exceed ten (1 0) feet in height and one hundred twenty (120) feet in sign display area. The required distance from any property lines for such freestanding sign shall be a minimum of ten (1 0) feet. Additional distance from property lines may be required if determined necessary by the director of public safety, to maintain clear vehicular and pedestrian sight distance. (d) Requirement for a unified sign plan. After the initial effective date of these regulations, all new nonresidential development, which shall contain space or units for more than one (1) business or occupant, shall provide a unified sign plan with the application for building permits. All subsequent applications for sign permits shall comply with the approved unified sign plan. The unified sign plan shall comply with respect to the following: (1) Manner and type of construction, including materials to be used, installation method and mounting details. (2) Means of illumination, if any, and hours of illumination. (3) Size, color, lettering, and graphics style. (e) Pre-development signs. Signs for the purpose of announcing a coming development project may be placed within commercial and industrial zoning districts subject to the following provisions: (1) Issuance of a sign permit shall be required, and no such sign shall remain on any development parcel for a period oftime exceeding one (1) year from the issuance date of the sign permit. (2) Complete and proper applications for building permits for the related development project must be submitted within sixty (60) days of the placement of any such sign, or the sign shall be removed. In the case that the sign is not removed, the sign shall be considered an abandoned sign, subject to the provisions of subsection 17-41 (c). (3) Such sign shall be removed within thirty (30) days of the issuance of any certificate of occupancy, or at any time when construction ceases for a period of time longer than thirty (30) days. In the case that the sign is not removed within these periods oftime, the sign shall be considered as abandoned, subject to the provisions of subsection 17-41 (c). (4) Only one (1) such sign shall be placed upon the development parcel and shall not exceed the height or size permitted by preceding paragraph (a). (f) Requirement to display street number. All business and activities regulated by the requirements of section 17-29 shall display the street number in a manner that is prominent and clearly readable to vehicular and pedestrian traffic, as appropriate. Street numbers shall be displayed on all freestanding signs and over front doors or primary entryways. (Ord. No. 60-02-12, § 2, 9-9-02; Ord. No. 60-03-14, 7-14-03; Ord. No. 60-04-15, § 2, 1-10-05; Ord. No. 60- 12-17, § 1(Exh. A), 1-9-12) Sec. 17-30.-Signs within special purpose (SP) and planned unit development (PUD) zoning districts. about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 The size, height, width and number of signs permitted within special purpose districts and planned unit development districts shall be established within the ordinance creating such district as determined by the city commission to be appropriate for the nature and character of the use within these districts. (Ord. No. 60-02-12, § 2, 9-9-02) Sec. 17-31.-Signs within conservation (CON) zoning districts. As set forth by section 24-1 03(b) of this Code, all uses in the conservation districts shall require approval as a use-by-exception. The size, height, width and number of signs permitted within conservation districts shall be established during the use-by-exception process in accordance with the provisions of section 24-63. Signs within conservation districts shall not adversely impact the environmentally sensitive qualities of these areas, shall be non-illuminated, shall contain no electrical components and shall be constructed of wood, brick, masonry, high-density urethane or similar material, which is consistent with the natural surroundings of these districts. (Ord. No. 60-02-12, § 2, 9-9-02) Sec. 17-32.-Signs placed on public buildings and structures and within public parks. All signs displayed within City of Atlantic Beach parks and upon the exterior of any public building or structure shall conform with design of the "WELCOME TO ATLANTIC BEACH" signs displayed on such properties as of the effective date of this chapter, or as such design may be later modified by city commission. Such signs shall display the City of Atlantic Beach logo, as depicted in Figure 1, and shall be similar in appearance with respect to color, lettering, composition, and materials used for construction. Materials used shall be wood, high-density urethane, or similar material, which may be about: blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 The purpose of banner signs shall be to promote special seasonal, civic or community events that occur on a temporary basis. A sign permit shall not be required for banner signs; however, all banner signs shall be registered with City of Atlantic Beach. No banner sign shall be hung, placed or erected prior to registration on a form as provided by the planning and zoning department, and payment of fees as may be established by the city commission. (b) Banner signs may be displayed subject to registration verifying compliance with the following provisions: (1) Display of banner signs for any event shall be limited to thirty (30) consecutive or cumulative days within one (1) calendar year. (2) Banner signs shall be limited in size to a maximum of sixty (60) square feet in size. (3) Banner signs shall not contain an advertising message. (4) Banner signs shall not hang over or extend into rights-of-way. (5) Banner signs shall be securely anchored to buildings, poles or suitable structural supports and shall not be attached to trees, public buildings or structures, utility poles or any type of utility structure or equipment, including lift stations, fire hydrants and the like. (6) Property owner's authorization to install and display such banner sign. (Ord. No. 60-02-12, § 2, 9-9-02) Sees. 17-34-17-40.-Reserved. ARTICLE Ill.-CAUSE FOR REMOVAL OF SIGNS, ABANDONED SIGNS AND PROHIBITED SIGNS Sec. 17-41.-Removal of unsafe, damaged or poorly maintained, and abandoned signs. (a) Unsafe signs. In the event that any sign, including an exempt sign, is determined by the building official to be unsafe, such sign shall be immediately removed upon written notice from the building official ordering removal. Such notice shall be sent by certified mail to the property owner of record. If not removed within ten (1 0) days, the sign shall be considered a hazard to public safety and shall be removed at the property owner's expense. (b) Damaged signs and poorly maintained signs. All signs, including exempt signs, shall be kept in a structurally sound condition, with a neat appearance and in a generally good state of repair. Further, signs shall be maintained in accordance with Section 31 08.1.7, Florida Building Code, which requires that all signs for which a permit is required, together with supports, braces, guys, and anchors shall be kept in repair and, unless of galvanized or non-corroding metal, shall be painted at least once every two (2) years. Any sign destroyed or damaged beyond reasonable repair in the determination of the building official, shall be immediately repaired or removed at the property owner or occupant's expense. A new sign permit shall be required for any replacement sign. If not repaired or replaced within thirty (30) days after written notice from the building official, the sign shall constitute a public nuisance and shall be removed at the property owner's expense. (c) Abandoned signs. Signs shall be removed by the owner or occupant within (30) thirty days of cessation of the business or activity conducted on the property where the sign is located. A business or activity shall be considered to have ceased when the premises are vacated, or in the absence of a valid occupational license or active utility service account. Signs not removed in accordance with these provisions shall be considered as abandoned and shall be removed at the property owner's expense. (Ord. No. 60-02-12, § 2, 9-9-02) about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13. 2016 Sec. 17-42.-Prohibited signs and devices. The following signs and devices shall be prohibited within the City of Atlantic Beach. In the case of any conflict with other provisions of this Code, the prohibitions set forth below shall supersede such other conflicting provisions. (1) Animated signs. (2) Automatic changeable message device signs, except for signs depicting time and temperature. (3) Flashing signs. (4) Signs containing beacon or tracker lights or similar lighting components. (5) Signs containing fluorescent colors or materials designed to be mirror-like or reflective. (6) Obscene signs. (7) Roof signs. (8) Snipe signs. (9) Portable and mobile signs. (1 0) Temporary signs, except as otherwise authorized herein. (11) Pennants, ribbons, balloons, streamers, wind-operated devices and similar elements that are intended to draw attention to a business or activity, either when used alone or incorporated into a sign. (12) Vehicle signs. (Bumper stickers, decorative decals and the like, customary and registered logos, trademarks or service marks that are attached to a motorized vehicle shall not be considered as vehicle signs; however, such vehicles shall not be parked off of the property from where a business is located or in the required front yard of any property for the sole purpose of advertising.) (13) Private signs on any public property, other than as specifically approved by the city commission. (14) All signs prohibited by Chapter 479.11, Florida Statutes. (15) Signs not in compliance with all applicable provisions of this chapter and this Code. (Ord. No. 60-02-12, § 2, 9-9-02) Sees. 17-43-17-50.-Reserved. ARTICLE IV.-NONCONFORMING SIGNS AND WAIVER TO CERTAIN PROVISIONS Sec. 17-51.-Nonconforming signs. All signs, which were lawfully in existence and constructed or installed with properly issued sign permits as of the effective date of these amended regulations, and which are made nonconforming by the provisions herein shall be allowed to remain in accordance with the following conditions: (1) Freestanding signs, permitted pursuant to section 17-29, made nonconforming upon the initial effective date of these amended regulations, which are not in compliance only with respect to the minimum required distance offive (5) feet from any property lines shall be allowed to remain in the existing location provided that no portion of the sign is located within any publicly owned right-of-way or utility easement and that no interference with clear sight distance exists, and further provided that such signs are otherwise in compliance with the terms of this chapter. about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #80 JUNE 13, 2016 (2) Freestanding signs, permitted pursuant to section 17-29, made nonconforming upon the initial effective date of these amended regulations, which are not in compliance with respect only to maximum width, height or size shall be allowed to remain, provided that such signs are otherwise in compliance with the terms of this chapter. (3) Nonconforming signs, including those as described in preceding paragraphs (1) and (2) shall be made conforming with all provisions of this chapter when any of the following changes are made: a. Any change to the structural supports or structural materials, including temporary relocation associated with routine maintenance of a property. b. Any change which increases the illumination. c. Any change which increases the height of a sign. d. Any change, which alters the material used for the display area or face area by more than twenty-five (25) percent. e. Any replacement required as the result of an accidental act or a weather-related act. f. Any replacement of an abandoned sign. g. Any change necessary for compliance with Florida Building Code requirements. (4) The provisions of this section shall not be construed to apply to signs that are abandoned, deteriorated, dilapidated, or in a general state of disrepair, or which are determined to create a hazard to public safety. Such signs shall be subject to the provisions of section 17-33. (Ord. No. 60-02-12, § 2, 9-9-02; Ord. No. 60-03-13, § 2, 3-24-03; Ord. No. 60-11-16, § 1, 10-10-11; Ord. No. 60-14-19, § 1, 11-24-14; Ord. No. 60-15-20, § 1, 6-8-15) Sec. 17-52.-Requests to waive certain terms of this chapter. Requests to waive terms of this chapter may be made upon specific application to the city commission, with proper public notice required, provided that no waiver shall be requested that would allow a prohibited sign, or any otherwise unlawful sign. The applicant requesting such waiver shall have the burden of demonstrating the need for the requested waiver, and that the waiver is not in conflict with the intent of this chapter. The terms of any waiver to the provisions of this chapter shall be established by order of the city commission. (Ord. No. 60-02-12, § 2, 9-9-02) Sees. 17-53-17-60.-Reserved. ARTICLE V.-SIGN PERMITS Sec. 17-61.-Permit required. It shall be unlawful for any person to install, erect, place, alter or relocate any sign without first obtaining a sign permit with payment of the required fee to the city. Sign permits shall be required for any sign requiring a permit under the provisions of Section 31 08.1.3, Florida Building Code. A sign permit shall not be issued prior to issuance of the appropriate occupational license as required for the activity on the property for which the sign permit is sought, except as set forth in section 17-29(c) of this chapter. (Ord. No. 60-02-12, § 2, 9-9-02) Sec. 17-62.-Application. about: blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 Before a sign permit shall be issued, a design and stress diagram containing necessary information to enable the building official to determine compliance with the provisions of Section 3108 of the Florida Building Code shall be submitted. Such information shall be included as part of the sign permit application and shall be submitted to the City of Atlantic Beach Building Department using a sign permit application as provided by the city. The application for sign permit shall contain or have attached thereto the following information: (1) The name, mailing address and telephone number of the applicant. (2) If applicable, a copy of a valid and current occupational license for the property where the sign shall be placed. (3) In the case that the applicant is not the property owner, an owner's authorization to apply for a sign permit. (4) A survey depicting the location of the requested sign(s) and the location of all structures and access points on the property. An elevation drawing, with dimensions, depicting the size, height, location and relation to other existing signs. Plans shall be drawn at a legible scale, depicting materials to be used, method of construction, attachment or installation as appropriate and type of illumination, if any. (5) The name and contractor information of the person erecting or installing the sign. (6) An electrical permit, if required. (7) Registered engineer's drawings as may be required by Section 3108, Florida Building Code. (8) Such additional information as may be required by the building official to determine compliance with this chapter, any other applicable laws and ordinances of the City of Atlantic Beach and the requirements of Section 3108, Florida Building Code. (Ord. No. 60-02-12, § 2, 9-9-02) Sec. 17-63.-Calculation of permitted sign size. Sign face area, sign display area, width of sign and height of sign shall be calculated as defined within article I of this chapter. In the case of freestanding, fascia and projecting signs, the sign face area shall be used in calculating the permitted size of sign. In the case of marquee, canopy or awning signs, the sign display area shall be used in calculating the permitted size of the sign. When computing sign face area and sign display area, only one (1) side of a sign containing two (2) sides shall be included in the calculation of the permitted sign size. (Ord. No. 60-02-12, § 2, 9-9-02) Sec. 17-64. -Fees. Fees for the issuance of a sign permit shall be determined as follows. (Electrical permits and required fees shall also be required for signs with electrical components.) (1) Thirty-two (32) square feet or less of sign display area or sign face area, as appropriate: Thirty dollars ($30.00). (2) Larger than thirty-two (32) square feet: An additional ten dollars ($1 0.00) for each square foot exceeding thirty-two (32) square feet of sign display area or sign face area, as appropriate. (3) about:blank 6/2/2016 Atlantic Beach, FL Code of Ordinances AGENDA ITEM #8D JUNE 13, 2016 Freestanding signs constructed in accordance with the provisions of section 24-171 (d), commercial corridor development standards: Freestanding signs constructed of a solid material such as wood, masonry or high-density urethane, and externally-illuminated in a manner that washes the sign in indirect light from a fluorescent ground source shall be entitled to a fifty (50) percent reduction in sign permit fees. (Ord. No. 60-02-12, § 2, 9-9-02; Ord. No. 60-03-14, 7-14-03) about: blank 6/2/2016 AGENDA ITEM: SUBMITTED BY: DATE: STRATEGIC PLAN LINK: BACKGROUND: CITY OF ATLANTIC BEACH CITY COMMISSION MEETING STAFF REPORT 90-Day Calendar for the Mayor and Commission AGENDA ITEM #9A JUNE 13, 2016 Yvonne Calverley, Executive Assistant to the City Manager~C2__.-­ May 23,2016 None The 90-day calendar is included on the agenda for the purpose of setting meeting dates, determining the location, time and whether or not to videotape special meetings and workshops if the Commission desires. The rolling 90-day calendar will be revised after receiving input from City staff and the Commission and will be included in each agenda for consideration. Special notes: • The groundbreaking ceremony for the Public Safety Building is scheduled for Friday, June 1 ih at 9 am. • A Commission Workshop is tentatively scheduled for Monday, June 27th at 5 pm to discuss the Safe Routes to School project. • The next quarterly Town Hall Meeting is scheduled for Saturday, July 16th at 10 am in the Commission Chamber. BUDGET: None RECOMMENDATION: Approve the 90-Day Calendar for June through August 2016 ATTACHMENT: 1) Mayor and Commission 90-Day Calendar (June through August 2016) CITYMANAGER: ~ 0~ z~