1. 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

2. 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

3. 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

4. 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

5. 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

6. 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

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

8. Diversification of Major Revenue Sources

9. 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

10. 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

11. 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

12. 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

13. 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

14. 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

15. 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

16. 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