Department of Financial Services Throughout your presentation please ensure you are adhering to the style guide. Do not use additional pictures, clipart, etc. Department of Financial Services

Current Financial Condition of City Revenue Trends Economic Trends Functions/Areas of Responsibility (One slide with max. 8 bullet points) - This slide should include a high level overview of your departments divisions, functions, and/or areas of responsibility Current Financial Condition of City Revenue Trends Economic Trends

Current Financial Condition Functions/Areas of Responsibility (One slide with max. 8 bullet points) - This slide should include a high level overview of your departments divisions, functions, and/or areas of responsibility; R+B Tax Fund has to rely on subsidy from General Fund. Current Financial Condition General Fund - Fund balance is at $24.6 million $32 million. Water & Sewer Enterprise Fund is healthy with unrestricted net position of Solid Waste Enterprise Fund has total net position of $1 million. Recent credit upgrade of general obligation bonds, Series 2012B-2 from Fitch Ratings: from “A” to “AA” . Rating of “AA-” from Standard & Poor’s Ratings Services for same debt. Need for City to set up dedicated funding mechanisms for small capital projects and for surface water management

Fund Balance History – General Fund Fund balance is at its highest level in over 20 years. Fund balance was $970k at the end of FY2001. Fund Balance History – General Fund

2018 Projected General Fund Revenue – $102.6 Million FY 17 Achievements (One slide with max 8 bullet points) - Include major accomplishments that stem from policy discussions made by the City Commission, formal recognitions of achievement from outside agencies/organizations, or improvements to customer service. 2018 Projected General Fund Revenue – $102.6 Million

Ad Valorem Tax Estimate – FY2018 Functions/Areas of Responsibility (One slide with max. 8 bullet points) - This slide should include a high level overview of your departments divisions, functions, and/or areas of responsibility; R+B Tax Fund has to rely on subsidy from General Fund. Ad Valorem Tax Estimate – FY2018 Total citywide estimated tax collections - $40,649,794 Tax incremental revenue (CRA’s allocation) - $1,632,056 Projected net General Fund tax collections - $39,017,738

Ad Valorem Tax Revenue FY17 & FY18 budget equals actual due to incomplete fiscal years

Diversification of Major Revenue Sources

Average Assessed Value FY 17 Performance Measures YTD (One slide in table format include 2016 actual and 2017 ytd.) - Some departments have several measures that indicate operational performance. Measures provided on this slide should be limited to those with fiscal impacts, support proposed highlights and enhancements, or measures directly related to customer service. Average Values of Single-Family Homes Average Assessed Value 2016 2015 Deerfield Beach $154,511 $145,579 Broward County $225,395 $214,166 Source: Broward County Property Appraiser

FY17 Adopted Millage Rates – Selected Broward Municipalities Municipality Millage Rate Average Assessed Value Median Household Income Lighthouse Point 3.7892 $537,810 $79,658 Parkland 3.9800 $482,693 $130,107 Fort Lauderdale 4.2803 $339,902 $50,778 Coral Springs 5.0930 $249,970 $66,430 Pompano Beach 5.3252 $177,853 $41,321 Hallandale Beach 5.7998 $214,428 $34,216 Plantation 5.9000 $252,006 $66,647 Coconut Creek 6.1370 $195,968 $52,800 Oakland Park 6.1555 $141,882 $45,357 Sunrise 6.4293 $146,753 $49,806 Deerfield Beach 6.5007 $154,511 $40,626 Miramar 6.7654 $206,845 $65,282 Margate 7.0593 $129,692 $42,786 Tamarac 7.3638 121,745 $43,235 Pembroke Park 8.5000 $70,572 $32,881 Lauderhill 8.6180 $115,614 $37,429 West Park 8.6500 $84,788 $37,908 Lauderdale Lakes 9.7100 $95,012 $31,497

Communications Services Taxes (CST) Functions/Areas of Responsibility (One slide with max. 8 bullet points) - This slide should include a high level overview of your departments divisions, functions, and/or areas of responsibility; R+B Tax Fund has to rely on subsidy from General Fund. Communications Services Taxes (CST) FY02 Taxable Sales - $94,402,514 FY15 Taxable Sales - $52,953,183 Decrease of almost 44% over 13 years Collections: FY03 - $3.4 million Collections FY16 - $2.3 million Source: Florida Department of Revenue

Functions/Areas of Responsibility (One slide with max Functions/Areas of Responsibility (One slide with max. 8 bullet points) - This slide should include a high level overview of your departments divisions, functions, and/or areas of responsibility; R+B Tax Fund has to rely on subsidy from General Fund. Local Business Tax CS/SB 330 and CS/HB 487 proposed new exemption categories - died in Appropriations Sub-Committee Starting in July, 2017 City of Tallahassee will no longer have a local business tax (loss of $2.4 million) Loss of $600K in revenue for Deerfield Beach, if approved in future legislative sessions

Functions/Areas of Responsibility (One slide with max Functions/Areas of Responsibility (One slide with max. 8 bullet points) - This slide should include a high level overview of your departments divisions, functions, and/or areas of responsibility; R+B Tax Fund has to rely on subsidy from General Fund. Economic Indicators

Retail Sales Data – Deerfield Beach FY 17 Performance Measures YTD (One slide in table format include 2016 actual and 2017 ytd.) - Some departments have several measures that indicate operational performance. Measures provided on this slide should be limited to those with fiscal impacts, support proposed highlights and enhancements, or measures directly related to customer service. Retail Sales Data – Deerfield Beach Year Gross Sales Taxable Sales (After Exemptions) 2008 $6,688,287,696  $1,049,270,100 2009 $5,984,015,409  $1,013,553,158 2010 $6,797,140,238  $1,010,308,485 2011 $6,199,772,814  $1,045,212,328 2012 $6,996,497,043  $1,077,696,510 2013 $7,399,430,245  $1,109,919,481 2014 $7,965,966,220  $1,188,218,773 2015 $8,638,146,983  $1,276,051,808 2016 $8,921,705,106  $1,346,384,158 Source: Florida Department of Revenue

Economic Trends Unemployment rates (May, 2017): City – 3.7% Broward County – 3.8% State – 4.0% Nation – 4.3% Decrease for month of May, 2017 in Florida consumer confidence from 95.7 to 93.3 Median sales price of single-family homes for April has increased by 6.5% for the Broward region (from $310K to $330K) Number of closed sales of single-family homes decreased by 4.3% for Broward region Sources: Fl. Dept. of Economic Opportunity & Greater Ft. Lauderdale Board of Realtors

Economic Trends (Cont’d) Almost 21% decline in number of cash sales of single-family homes Global uncertainties which impacts tourism and real estate investment Shifting consumer retail habits to online retailers which decreases sales tax collections (e.g., Amazon’s takeover of Whole Foods) Sources: Fl. Dept. of Economic Opportunity & Greater Ft. Lauderdale Board of Realtors