04/16/1996 - Special
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Agenda: 4-16-96
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City Commission
Special Worksession
4-16-96
F a?C?o
AGENDA
Clearwater City Commission Special Worksession
Tuesday, April 16, 1996 - 10:30 A.M. - Adler Room - Main Library
1. Call to Order
2. Community Redevelopment
Agency (CRA) - previously
provided in 418/96 pack
a) continued existence, structure &
staffing
b) CRA Plan
3. Budget - see attached
4. Continuation of Review of
Pa???-?taC y??`p?1
Commission Policies (if time
allows) - previously provided in 9
4/8/96 pack
5. Adjournment
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COPIES 1-(-):
C OMMIs;; lr' -> N
MEMORANDUM APR 0 5 1996
pH t ass
CLERK `ATTOR,Nr-y
TO: Mayor and City Commissioners
FROM: Kathy S. Rice, Deputy City Manager
COPIES: Betty Deptula, City Manager
Bill Baker, Assistant City Manager
SUBJECT: CRA Discussion April 8, 1996
DATE: April 5, 1996
Following is information for the CRA discussion scheduled for Monday, April 8.
Financial Viability:
r?
The CRA's principal tool for redevelopment is tax increment financing. Its ability to issue new bonds
against future tax increment receipts is severely limited by decreasing cash flow and a large contingent
liability for an existing bond. I recently spoke to the City's financial advisor. In his opinion, the CRA
will not be able to issue any new bonds until the contingent liability is resolved. This liability exceeds
the agency's total cash reserves.
The existing cash flow is substantially committed. Forty-nine (49%) percent of the total receipts are
obligated for debt service. Another 30% is spent on staff salaries and fringe benefits. In dollar terms
for the last fiscal year, this amounted to $118,763. Given the declining tax increment, I doubt this
agency will be able to continue staff salaries at this level. You may wish to consider alternate staffing
support for this agency until the tax increment begins to increase.
Existing CRA Loan Programs:
The CRA has three loan funds it administers. Actually, they are grants. The CRA capitalized an interest
free loan fund of $80,000. This fund has a balance of $5,316.97. The CRA has also capitalized a store
front grant program of $40,000. This fund has a balance of $21,846.11. Finally, the CRA offered
architectural grants from a $20,000 fund with a balance of $4,832.95 remaining.
These loans and grants are poorly documented and there is no recapture provisions if a business chooses
to relocate out of downtown. The interest free loan is actually a prepayment of the outstanding principal
balance. A one-time payment of five years of interest is made to the bank issuing the loan. Due to
federal banking regulations, they must treat this as a prepayment of principal. If a business relocated out
of Clearwater after this prepayment of five years of interest, they are under no obligation to repay our
taxpayers' money. I suggest you reconsider either the criteria, how the funds are administered, or
whether or not this is effective for each of these funds. Their net effect is just to give away the limited
capital resources of the CRA.
Mayor and City Commissioners
April 5, 1996
Page 2
Options For Director:
A. Use current staffing pattern of one (1) loan officer from Economic Development and one (1)
clerical/receptionist.
B. Hire a Director and a clerical assistant.
C. Hire a Development Director who will be the staff for the City, CRA, and DDB, and will be paid
proportionately by the agencies. This Director should have development experience in large and small
projects and should come with contacts in the development community. The Economic Development
Director will provide support with loan officers and economic analysis, thus providing better
coordination.
D. Hire the same as "C" only joint fund City and CRA if the DDB does not agree.
.4 1
COPIES TO:
COMMISSION
APR 12 1996
phtSS
CLERK / ATTORNEY
14) 14 WAJC5
Office of the Mayor
TO: Commissioners
FROM: Mayor Rita Garvey ?( .c..?
COPIES: Elise K. Winters, DDB
Betty Deptula, City Manager
Kathy S. Rice, Deputy City Manager
SUBJECT: Proposed Merger
DATE: April 12, 1996
At the DDB meeting of April 9th, Dave Stone brought up the idea of merging the CRA with the DDB
while maintaining the two revenue sources and the separate powers. (Attached is David Stone's
memo.) As I thought about it afterward, it's an idea that we should explore. The DDB, the CRA and
the city have, or should have, common goals and objectives. It would provide a common discussion
of how to use the $'s of the two taxing units. It would facilitate a common discussion of what needs
to be done as well as common discussion of information and eliminate misinformation of what each
agency is doing.
Whether or not we can do this legally needs to be explored. I suggest we need to discuss this concept
on April 16th before we talk about how we organize the CRA.
RG/cb
Attachment
MEMO
To: Members of the Downtown Development Board
From: David P. Stone
Subject: Proposed merger with the Community Redevelopment Agency
Date: April 99 1996
I propose that this Board explore the possibility of merging the DDB with the CRA to create a true
public-private partnership that could enhance the ovcraU objective of executing the Downtown
Redevelopment Plan.
Purpose: In my opinion the lack of substantial redevelopment in the Downtown Core has been a
lack of synergy between the Public and Private sector (Stakeholders) in the Downtown
Redevelopment District. Over the years the DDB, City, CRA, and other downtown interest's
have been diametrically opposed over who, what , when and how things should be done. Some
projects or ideas that have moved forward or not moved forward did not have the input or
blessing of all or even a majority of interested parties. I feel that if the public body that has the
power to make things happen was controlled equally by stakeholders in the redevelopment district
and elected public officials the opportunity to move forward in unison are greatly enhanced
Concept: Merge the DDB and CPA into one entity preserving all the powers and revenue sources
of each.
Control: I recommend a board of ten trustees comprised of the five Elected City Conunissioners
and five Elected Representatives that are property owners within the defined district.
Problems: There could be obstacle's such as conflict with existing ordinances, statues or
regulation which may have to be overcome.
There could be concern over a large contingent liability of the CRA if it could negatively impact
the DDB revenues.
Recommended approach: Hold meetings with the Trustees of the CRA to explore this
opportunity. _
. A .^ . - " t a zit'l ? ?n
MEMORANDUM
TO: Mayor and City Commissioners
FROM: Kathy S. Rice, Deputy City Manager
COPIES: Betty Deptula, City Manager
Bill Baker, Assistant City Manager
Cyndie Goudeau, City Clerk
SUBJECT: Special Work Session 4/16/96
DATE: April 15, 1996
COPIES TO:
COMMISSION
APR 151996
PRESS
CLERK / ATTORNEY
Attached is backup information for CRA discussion at tomorrow's special work session.
Attachment
CLEARWATER CITY COMMISSION SPECIAL WORK SESSION
Tuesday, April 16, 1996
COMMUNITY REDEVELOPMENT AGENCY (CRA)
1. Goals
2. Projects in Downtown Plan
a) Clearwater Downtown Projects
b) Clearwater Project Summary
3. Discussion to Combine CRA, DDS and City
4. Director Search
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COMMUNITY REDEVELOPMENT AGENCY (CRA)
GOALS
* People - To redevelop downtown Clearwater into a successful
"people place" that attracts, retains, and inspires those of all ages and incomes
to use and enjoy the community town center.
* Movement - To redevelop downtown Clearwater with an efficient, high `
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quality, multi-modal movement system with supportive and visually positive
terminal and transition facilities for all modes.
* Activity - To redevelop downtown Clearwater to provide a broad and
diverse set of activity centers that accommodate, stimulate and reinforce
residing, working, visiting and purchasing in a great waterfront town setting.
* Amenity - To redevelop downtown Clearwater to create and enhance a
small town center "quality of life" that attracts and sustains a diversity of visual
and use elements for cultural, entertainment, recreation and environmental
experiences.
* Opportunity - To redevelop downtown Clearwater to attract and continue
a process of value creation action that invests time, dollars, resources and
creativity to enhance the value, tax base, image and quality of life for
Clearwater.
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COMMUNITY REDEVELOPMENT AGENCY (CRA)
Salaries
Rent and Office
*Specific Project
BUDGET (GENERAL)
30%
3%
53%
Discretionary -- $50,000
*Specific Ongoing Commitment Projects
Checker's Parking
Jolly Trolley
Saturday Downtown Parking
Harborview Center Parking
Downtown Beautification
Fund 214 -r- 20% of Tax Increment
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Betty, The CRA (1986 Issue) has $1,610,000 in principal
outstanding on the bonds related to the Garage.
This is after the Oct. 1, 1995 $5,000 payment.
Following are approximate amounts available for the
liquidation of the 1986 bonds.
Funds Available
for 1986 Bonds
Fund 188
This fund has approximatly $225,000 which is budgeted for current
year operations.
Fund 214
51000.00 Reserve for Principal due 10/1/96
224,643.57 Additional reserve (funded by excess cash In CRA in past)
229,643,57
This fund also has a total of $135,995 for interest which will be needed to
pay the interest payments on the 1986 bonds due 4/1 /96 and 10/1/96.
If the bonds are called prior to 10/1/96, so!ne of this money will be available.
This fund also has $150,000 for principal and $25,985 for interest
on the 1987 bonds. There is an additional $116,700 for future debt
service on the 1987 bonds. (Remaining debt service on 1987 bonds afterthe
current year payments is $178,845 which will be nearly accumulated
by the $116,700 plus the current year transferfrom 188 of $61,000.)
Fund 237
140,116.00 Future Debt Service in PACT Debt Service Fund (CRA Portion for 1986 Issue)
Fund 315
829,877.00 Project 94714 - Downtown Redevelopment
1,199,636.57 Total Cash Available
442,563.43 Unfunided Amount
1,610,000.00 Bonds Outstanding
32,200.00 2% call premium
1,642,200.00 Principal Amount Due
W
HADATA\1 23FILESICSARKMAICRAOSMOI.WKI
02106/96
City of Clearwater
CLEARWATER COMMUNITY REDEVELOPMENT AGENCY - General Fund
Interim Statement Of Operations
For the Quarter Ended December 31, 1995
Revenues and Other Financing Sources:
Tax Increment Revenues:
Pinellas County
City of Clearwater
Downtown Development Board
Other Revenues:
Interest Earnings on Investments
Interest Earnings on Debt Reserve
Rental Income - Garden Ave Garage
Rental Income - Station Square Parking
Prior Years Working Capital
Other Income
Total Revenues
FYI 996
Amended
Budget
149,749
132,428
6,544
288,721
15,000
10,000
15,750
6,000
10,000
50
1 st Quarter
Actual
148,659
131,463
26,960
307,082
0
0
3,938
1,500
0
82
345,521 312,602
Year to Date
Actual
148,659
131,463
26,960
307,082
0
0
3,938
1,500
0
82
312,602
Budget to
YTD Actual
Variance
Favorable or
(Unfavorable)
(1,090)
(965)
20,416
18,361
(15,000)
(10,000)
(11,812)
(4,500)
(10,000)
32,
(32,919)
Expenditures:
Economic Development
Administrative 159,097 35,236 35,236 123,861
Miscellaneous 200 5 5 195
Saturday Downtown Parking - Street 15,000 3,750 3,750 11,250
Harborview Center Parking 6,360 1,590 1,590 4,770
Advertising 10,000 8,679 8,679 1,321
Prof Services 15,000 5,632 5,632 9,368
Transfers (IN)/Out
For Funding Redevelopment Projects
For Debt Service Requirements
Fund 214 - 20% of Tax Increments
Reimburse General Fund - Adm expense
Reimburse General Fund - Jolly Trolley
Parking Fund - Checkers, Inc
Parking Fund - Garden Ave Garage
Total Expenditures and Transfers Out
3,978
56,436
3,600
50,000
4,850
21,000
345,521
0
61,416
0
12,500
1,224
5,250
135,282
0
61,416
0
12,500
1,224
5,250
135,282
3,978
(4,980)
3,600
37,500
3,626
15,750
210,239
Excess of Revenues & Other Financing Sources
Over Expenditures and Transfers Out 0 177,320 177,320 177,320
W
HADATA\1 23FILESICSARKMAICRAOSMOI.WKI
02106/96
City of Clearwater
CLEARWATER COMMUNITY REDEVELOPMENT AGENCY - General Fund
Interim Statement Of Operations
For the Quarter Ended December 31, 1995
Revenues and Other Financing Sources:
Tax Increment Revenues:
Pinellas County
City of Clearwater
Downtown Development Board
Other Revenues:
Interest Earnings on Investments
Interest Earnings on Debt Reserve
Rental Income - Garden Ave Garage
Rental Income - Station Square Parking
Prior Years Working Capital
Other Income
Total Revenues
FYI 996
Amended
Budget
149,749
132,428
6,544
288,721
15,000
10,000
15,750
6,000
10,000
50
1 st Quarter
Actual
148,659
131,463
26,960
307,082
0
0
3,938
1,500
0
82
345,521 312,602
Year to Date
Actual
148,659
131,463
26,960
307,082
0
0
3,938
1,500
0
82
312,602
Budget to
YTD Actual
Variance
Favorable or
(Unfavorable)
(1,090)
(965)
20,416
18,361
(15,000)
(10,000)
(11,812)
(4,500)
(10,000)
32,
(32,919)
Expenditures:
Economic Development
Administrative 159,097 35,236 35,236 123,861
Miscellaneous 200 5 5 195
Saturday Downtown Parking - Street 15,000 3,750 3,750 11,250
Harborview Center Parking 6,360 1,590 1,590 4,770
Advertising 10,000 8,679 8,679 1,321
Prof Services 15,000 5,632 5,632 9,368
Transfers (IN)/Out
For Funding Redevelopment Projects
For Debt Service Requirements
Fund 214 - 20% of Tax Increments
Reimburse General Fund - Adm expense
Reimburse General Fund - Jolly Trolley
Parking Fund - Checkers, Inc
Parking Fund - Garden Ave Garage
Total Expenditures and Transfers Out
3,978
56,436
3,600
50,000
4,850
21,000
345,521
0
61,416
0
12,500
1,224
5,250
135,282
0
61,416
0
12,500
1,224
5,250
135,282
3,978
(4,980)
3,600
37,500
3,626
15,750
210,239
Excess of Revenues & Other Financing Sources
Over Expenditures and Transfers Out 0 177,320 177,320 177,320
M
City of Clearwater
CLEARWATER COMMUNITY REDEVELOPMENT AGENCY
Administrative Expenditures
For The Quarter Ended December 31, 1995
Expenditure Description
PERSONAL SERVICE
5101 Salaries & Wages FT
5104 Special Pay
5105 Overtime Salary
5106 Vacation Leave
5107 Sick Leave
5127 Holiday Time
5201 Emp Life Insurance
5203 Emp SAMP Life Insurance
5204 Emp Major Medical
5206 Emp Social Security
5207 Emp Pension
5209 Workers Compensation
5210 Disability Insurance
TOTAL
FYI 996
Amend3d
Budget
102,820
0
0
0
0
0
14
253
4,620
6,853
0
330
360
115,265
1 st Quarter
Actual
21,011
0
101
1,385
301
2,008
3
48
1,244
1,251
122
0
96
27,570
OTHER OPERATING EXPENSE
5303 Contractual Services
5425 Postage
5432 Other Promotion Activities
5434 Printing & Binding
5441 Rental - Equipment
5442 Rental - Building
5461 Equip Svc & Repair - Office
5472 Emp Exp - Travel
5473 Emp Exp - Auto Allowance
5474 Emp Exp - Meals
5501 Office Supplies
5504 Operation Supplies
5571 Membership & Subscriptns
5573 Training & Reference
TOTAL
INTERNAL SERVICE
5402 Document Reproduction
5403 Telephone SvcNariable
5404 Messenger Service
5406 Telephone Svc/Fixed
5407 Postal Service
5409 Insurance Admin
5410 Computer Info Svc
5413 Print Shop
5414 Purchasing Service
5416 Bldg & Maint-Variable
5419 Messenger - Variable
5420 Employee Relations
5422 Utilities - Electric
5423 Gas, Water & Utilities
TOTAL
1,000
300
750
1,750
610
5,400
100
5,880
650
100
800
2,350
2,500
2,000
24,190
3,000
2,650
1,230
1,640
1,800
410
4,170
1,200
262
150
0
130
1,200
600
18,642
CAPITAL
5642 Furniture & Office Equipment 500
5508 Construction Materials 500
TOTAL 1,000
218
(11)
355
999
179
1,350
0
(591)
93
0
49
448
573
320
3,982
0
326
309
419
308
102
1,242
13
0
304
0
33
370
_ 133
3,559
0
125
125
H:IDATA%i ILE%CSJAPJWA?cRA MQj.VVK1
02106M
Budget to
YTD Actual
Variance
Year to Date Favorable or
Actual Unfavorable
21,011
0
101
1,385
301
22,008
3
48
1,244
1,251
122
0
96
27,570
81,809
0
(101)
(1,385)
(301)
(2,008)
11
210
3,376
5,612
(122)
330
264
87,695
218
(11)
355
999
179
1,350
0
(591)
93
0
49
448
573
320
3,982
0
326
309
419
308
102
1,242
13
0
304
0
33
370
133
3,559
0
125
125
782
311
395
751
431
4,050
100
8,471
557
100
751
1,902
1,927
1,680
20,208
3,000
2,324
921
1,421
1,492
308
2,928
1,187
262
(154)
0
97
830
467
15,083
500
375
875
CRA Administrative Expense 159,097 35,236 35,236 123,861
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APR-15-96 MON 04:14 PM MAYOR'S OFC-ECON DEVELOP FAX NO. 3036407059
4-10-1996 12,42PM
per_ k31 I N try
C??
FROM CLw. DUB ,LIB. /ADMIN. 613 462 6d.20
CITY OF CLEARWATER /
FAX MWO
(813) 462-6420
Tot
?rams
Date:
Subject:
City of Denver
Anita Hallam
April 10, 1996
P, 02110
P. I
FLORIDA
Request for Economic Cevelopment Information
Please respond to the following questions and fax this forts
back to me as soon as possible. my fax number is listed above.
The City of Clearwater currently has a Downtown Development
Board (funded by taxes levied against downtown properties), a
Community Redevtlopment Agency (a governmental agency receiving
revenues based upon taxable value increments in the downtown area) ,
and a city Economic Development Department.
what organization, agency, or department in your city is
responsible for economic development in the downtown area?
' nom Development HOED in artnershi With the
s of fJcS of nnwntnvn DP_mrPr Parrnershin (DDP). a 2 iva1:t_sLeet2r_inj&fatiye.
If there is more than one organization, agency or department
involved, what are they called? What are their separate
responsibilities? What are their funding sources? What is their
relationship with the city?
MOED is funded through the city's Reneral -funs. Dap rgreives fun q r1hroy,
_A $u&inerr Zmprovem nt Di StYict? rha r a& pe.e ' _rov On proms r?yt4"I n
the nisrric _ DnP 1C?71? rnf't n_-iv_ t_crrtn=4v%4f-4 ' th-t P*Q --tee
would ycu also fax information oA any special marketing
incentives offered by your city to businesses locating in or
improving downtown sites?
Thank you!
Your phone number for further information. (303) 640-7100
Person completing this fax fora: Max R. Wiley, Director
(]\Jec
APR-15-96 MON 04:14 PM WOR'S OFC-ECON DEVELOP FAX NO, 3036407059
v C ?l
Urban Enterproe Zone
Tax II1CeI1t1Y@S
Mayor's Office of Economic Development
city coc r or Dow .
P. 03/ 1 u
I
¦
APR-15-96 MON 04:14 PM MAYOR'S OFC-ECON DEVELOP FAX NO. 3036407059
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{
APR-15-96 MON 04:15 PM MAYOR'S OFC-ECON DEVELOP
hm lm= aw No to or @* d Wt* tAe D" M U&N
EWWPft lorM am dht potaatlal b sane thowamb of do=
ea toot *MON s kvom tar Suet ate Dwmrft
an iodd#s tfr akfy SWUM now of imipteted promly
coagahkj Or U* of Denvryr cool wejd* nwi /tar
esbft. A kW *w e"= d toast tau fires bllosrs:
'PAZ I Q
Businesses making irn?ats in equipment
used a xchisively in an enterprise a n - c for at least one year
may claim a credit agd nst their Colorado income tmes equal
to 3 percent of the kmstment anx uzt.
The credit cannot Domed 100 pe rent of your sbte income
tax liability up to $5,000 and 25 peroeat of yarn state tax
6abgity above $5,000. If you have mode arvestmew tax credit
than you can claim in one year, you can carry the unused
arno mit kwwaad seven years and reuvaefnely t free years.
Cacparabons, any also take advantage of the regular one
percent itivestmeot tax av t =U* statewide in addition to
the enWpsise zone investment tau c m&.
In generil, only equipment purchases q"* for the
inmstment tax credit. Imvesbnents in land or structures, or
agwiding inventory do not quality. You claim the credit on
the state mcorre tax return for the year it would harms been
claimed under kderal law (Le., year placed in service).
JobTal(IWI"
cwft
Who&)
$500 Job Ta ter M or Pafod
Buwwsms hiring new employees m cocuiection
with a New Business Fatty =F) in an enterprim Torre zoos.
,?CWM a state income taox credit or refund of 5500 for each new
tnployee.
Lineases may quakily am of few ways:
1_ Be a newly acquired, constructed or leased 6clity used
the taxpayer to operate a revenue-producing enterprise.
includes any factory, mill, plant• refirwi Y, Varehou-se.
dot, binding or compk% of buu'ldims, including lard,
, and mxhi)ery and equipment located at the fidity
and used m connection with the facility's opembioso, or
2. Expand in existing enterprise zone bchlity andlor nuke
new egmPmem purchases of at least $1 million or at least
double the taxp"es investmaht in the otginal iaty, or
3. Iteplaccroent bcilky - An NBF that bas reheated to the
zone fnhm somewhere in Colorado qualifies for the credit if the
old was not operated for throe or move of the five years
preceding the opening of the new betty, assuming all otlset
NBF criteria are net. If the old Wcility operated three or more
years, the aedL 6 erdlabk if naveatment in the new tachllty
FAX NO, 3036401059
P. 05/10
creeds $3 million or is at least 300 pcrruit of the taxpaW's
investment in the old kct7ity, or
4. The taxpayer has employed, during one calendar month,
a number of employees which is at least 10 in caress of the
averse number of employees at the bcRity during the 12
precaed calendar months (ellective June 7. 1989).
Qualxfyiag new or expanding facZties may claim the job
tax credit each year during the We of the sane for each new
employee above the ma dumm number unploycd in arW prior
tax yews (or lot each new employee when 10 or move are hired
without a major expulsion).
In the case of a leased NBF, the owner of the business
qualifies for the tax credit, not the owner of the bdlity.
Charge of ownership and/or acquisitions do not quality
as an NBE
If the NBF jobs tax credit emeeds yochr Colorado income
tax 1iabilty, the balance wM be refunded to you. FkAity
c npktion may be delayed or accelerated to rmodmize
the jobs tax credit.
This credit or refund is claimed on the income tax return
filed toe the taut period m question. B *ming with the 1989
taut, z a e5g:3>)e taxpam nw pmrate the credit based on the
munber of months the new facility is in operation at a rate of
$41.67 per new employee per month of empaoyrnent. Previously,
Job Mm Cmdits/RefwWs were claimed for "the £a5t full income
tax year after the NBF was established"
Manuldum nag
E*WmeM 0 so
is Side? Tax Stfe
nn
Purchases of machinery or machine tools, or
parts thereof, in access of $500 by a person engaged is
rnanubKithring to be used in Colorado directly and mclusivvly
by such person in tanvbae personal property, for
sale or pro t, are exempt from the 3 percent state sales and
use tax statewide.
Enterprise zone busimesses which purchase materials in
access of $500 for the construction of machinery and machine
tools to be used 3dely and exchtsively in an enterprise zone
are also eooempt from sales and use boxes on the purchases.
Also, purchases which are expensed for accounting purposes
wX be e5o apt as well as those which are capitalized.
11e same purchases are not necessarly also exempt from
local city and county sales tam. Humver, local guverrhnwhts
have the option of ao or nut exrmlxiug such purchases.
In general, manufa-turing means the operation of producing
an item of tangble persorol property f mm raw materials. Only
those nears used directly is the m4wubcturmg process qualify.
For aampK equipment used to move materials from one pro-
duction step to another in a continito a Bow would quaUy for
the exemption; equipment used to nave materials from a
storage area to a pmducdun tacMty would not. See Sales Tax
Regulation 26-ll4.11 tar adclitlonal detwIs.
At the time of purchase, you must file a *Purchases of
Mactaucry and Mxbvw Tools" Form DR 11-% with the vendor
from which the item is purchased and with the Colorado
Departnxnt of Revenue.
i.
APR-15-96 MON 0416 PM MAYOR'S OR-ECON DEVELOP
It] New &WNS Facility
pl.
ewn9 Cwt
Pk
A special credit is given to any taxpayer who
operates a business within an enterprue zone which adds value
Uirth msmtscturing or processing agricultural eon.
The uxpa m is abased an additional credit (car a,efuad) of $500,
or a total ct $1.000, for each new business briny etnpioyft.
The geuerai nukes and inter] ations for the NBF credit
di =sed above apply as weD.
Only businesses engaged in manufacturing or
agricultural commodities into some form other than that which
eaters normal agricultural commodity marketing channels
qualify for this special incentive. Harvestin& deanin& pac c4c-
ing, stoeing, transporting. wh*?, Mxik rg or dherwise
distrxbat4 products without changing their Mm do not apply.
The cm ,& i9 aretW* for new business facility emplayees
otrly?. Businesses must meet the criteria for an NBF described
above.
Cr?fit f0(
Emploff-Spomred
Healtlt Irwram
An erneiprise zcme taxpayer who qualifies for
the 13BF jobs-credit can also qualify for an additional cmda of
$2a0 for each NBF empbyee who is insured udder a health
hwutance plan or propm provided through the employes:
Any health insurance, health rnainteriance mpnizatim or
pt a-paid health plan which is apmwed by the St W of Colorado
insurance commissioner for sale in Colorado qualifies. The
employer must cattnbute 50 percent or mare of the total cost
of the plan.
The taxpayer malt' claim this credit for the first two frill
income taut yeas after the haeky is completed or acwired
within an enterprise zone. The credit may be claimed for the
average number of insured NBF empi%"s working at the end
of each month during each of the two tax yeas with each
years average calculated separately for that year's tax return.
'This is a non-refundable credit. Then is no p envision for
reftuift or carrying over arty credit in excess of actual tax
liability.
?Mh&
Rifl UX Dodoes W t
Cr+
For tax years begirucing January 1. 19&9,
there is an income tax credit for private dries on
research and experimental activities (as defined in federal tax
law) conducted in an enterprise vw?e. This coedit equals ttnte
percent (335) d the amount of increase in the taxpmk-Ys R&D
expenditures within the toile for the current tax year above
the average of R&D expenditures within the zone area in the
previous two years. No more than one fourth at the allowable
credit may be taken in any one tax year.
FAX NO. 3036407059 P.06/10
Mditenat Stfe Tax Credos
Credit to Rembilitate Vacant 5dWft }s
For tax years beginning January 1. 1989, there is a credit of
25 percent of qualified expenditures up to $59,000 to rehabiil-
itate buildings returned to commercial use which are at least
20 years old and which have been vacant for at leas Z years.
A tvcpverc crust submit a certificate from the enterprise
zone adrainistraitor and documemtation of the qualified
expenditures.
Crtedit for Private Ca"utim to Zone Projects
and Cldld Cane
Any taxpayer who makes monetary or in-kind contrslbutions
to an enterprise zone program may take an income tax credit
of up to 310000 per tax year. The total credit is Iinited to 50
percent of U& combined monetary and is-idnd co+ Hbutions
(employee labor, material-, desks, computer equipment, etc.)
Contsibuti = must be made to an enterprise zone
administrator fur the purpose of un0ernentag locally-
detern**d marketing and economic development projects.
Credit claims must be accompanied by a certification (Form
DR-75) from the enterprise zone administrator of the value and
purpose of the contnbution.
Effective May 24, 1990, a taxpayer may also claim this credit
for conuUtions made to an enterprise zoate administrator for
the purpose of establishing chid care b6lities or programs that
bendrt employees or residents of enterprise zones.
The amount d the credit is United by the taxpayer's tax
liability. Any e=ess credit may be carried forward up to five
years. This credit is xvrulable to all taxmeis, not just those
located in an ewtcrpiise zone. and is for tax yreaxs bctnr& g
on or after January 1, 1989.
laW Goy erne nt nWes
Any city or county within an enterprise zone is authorized
to negotiarte with indiv" tvcparytrs who have quaW*g new
business baTties: (a) an incentive payment equal to not more
than the amauit of the increase in pmPerty tax liability vier
pre-enterprise zone levels; and (b) a refund of local sales gores
on purchases of equipment, machinery, machine tools. or
supplies used m the taxpaMes business in the enterprise zone.
In most insances these incentives are negotiatted directly wish
the local govermnent.
Insuram Companies Eligilbie
New enterprise zone legislation was passed to allow
h m ace companies, which pay a premium tact instead d an
income tax, to daom errte.prise som tax credits to the same
extent that other corporatiDm can.
lM WWWWOM Is i4tdSi b atMW 90W O qpt For
k*rprelat1 " of spftft to , avntset' yflar In
adrlsars w Mt gayer Setttlos $ection, Caf!btadv Dt~patt-
,neat of ROM= at (393) mim
0? -?- P",
APR-15-96 MON 04.17 PM MAYOR'S OFC-ECON DEVELOP
Instntctlons to 8usiness Owners
and Their 'fax Advisors
To FYe For Erstapi Zone TAX Rmft
Aside from the fining procedure, you may have other ques-
tions with respect to these credits, such as whether your busi-
tress location is in an enterprise tone and whether (and when)
your business eircuastarm permit their being claimed.
To rsr? mr a&kz or am Qom rgwduW the flag
Pvaedum Piazze coxW-
DcUver Enterprise Zone Administrator
Mayo's Offira of Eoonoudc Dcveloprnent
216 Sbdeenth Street Mall
Suite 1000
Denver, CO 80202
(303) 640-7100
ShMU you h" sPaxiic patioxs on the Color Extoprix
lone tae law, code rrgda6o=, duir application axd inhrprda-
tian, espe!dally as it mlaft to yvxr haimm ciramrstancrs, dun
please call:
Colorado Department of Revenue
Taxpayer Services Division
(303) 534-1208
Colorado publishes and makes avaiaNe. uport request, an
enterprise zone tax series titled "M 'l was mw be obtakied
by cam to xMer services. You nW also obtain the Wo"*
tax forms:
DR-t Enterprise Zone Certification of Qualified Business
DR-75 Certification of Qual&d Enterprise Zone
Contnibution
DR-M Certification of Qualified Nature of Rehabilitation
Expenditures
DR-1291 Sales Tax Exemption on Purchase of Machinery
and Machine Tools
FAX NO, 3036407059 P,07/10
Cerfiflubon Procedure
We, as the Adrttaustrators of the Denver Enterprise Zone,
are requited to verify that your business is located within the
zone. 11 the only credit bring claimed is the investment tax
credit and it is less than $450.00 a certificate is not required.
Applying loo certificstion is a Simple and quick process.
The atepa are as follows:
IW]y complete, sign and date the "Enterprise Zone
Cettifmbon of QualiiW Business" form erxlosed herein.
Tex appropriate owner, partner or corporate officer must
sign prior to executing step 2 below.
2 Mai certificate and a copy, also =closing a stamped
ad&*sw-d envelope. Send W,
Denver Enterprise Zone Adminieumtur
M$ymor'c Office of Economic Development
216 Slsrteeath Street Mall,
Seaite 1000
Dewom CO 80202
Faxed certificates will not be accepted.
3 Upors vend m both Y= location within Detmr's ?.one
and that the form is fully completed, we wil sign, We
and return the certificate immediately.
A You need to attach a copy of this May executed cer6kate
m yoxar Colorado income tax return when you file. It is
importutt documentary evidence required by the state to
substaatiate your claim to credits taken. Do not send the
form in independedly of your tax return; it must be
attached to your mtum like any other supporting schedWe.
ktlpOtW note to filets of " 8" CorporMlons
and peps
Please prvvide all appropriate partners and shareholders a
copy of the certificate along with a calculation of their pmpor-
twxde shine of any credits claim & They are entitled to daim
their share of these credits and must hm substantiation to
do so.
APR-15-36 MON 04:17 PM MAYOR'S OFC-ECON DEVELOP FAX NO. 3036407059
err w4 troll 4M
ca NtA00 t iuftlrlFlrt oP,at "n
TAY^V%11 st; rung Or SQ"
IM *a W"A IT
?a
Certification of
Qualified Enterprise Zone Business
P. 08/ 10
State of Colorado
Mm corm certiibes that your E>cdAy a band within the bo urdaics of a Colorado Erderprise Zone.
TO clAiar the Colorado Eatetvrise Zone im? tour beaefsts:
• Calcutft your CobrWo Entrepm Zone Tax Credits, bbawuV the mst ucbow on Form 112CR. (If you are ffM an individual psx return. attadt
Form U2CR to yva return as a work shed.)
• Subv* this compkted form (signed by an rAborixed company otk-W or owner and dated) W the Denver County Eaterprise Zone A&=U3t WM-
M*thr St.. Suite 1000. Deaver. CO W202. Enclose a sed-addressed stwved emv e.
• Atbched a copy of the CERTIFIED b m to ycxu Colorado In=* Tax return. (Do ad send the form rndependenttp of your return). CertikAion is
riot req ted for an Bderprise Zane Investment Tarr Credit of less than $M. A new foram is required exh year you claim Colorado Eaterptise Zane
Tax Credr.
• Mae to "S" C8tp0r'Z6Dn and Parbw trip filers: Pkne pfvwide to all app:vpsiste partners and shareholden a copy of the cerd5cate along with a
cakulatim of their vrooottionate sham of saw enhumrhe mee ern&ls clxrmed.
Zi" here it a cerrifmion Nas boon
70 BE COMPLETED BY AN AUTHORIZED COMPANY OFF=ALIOWNE R Ged iw oft tedrdy in a prim rev
Enwrpr+se Zone - See Reverses Denver County Enterprise Zone Type of Business: (miai. mfg.. farm. etc.)
Busimss Nw * Business Telephone Number
Address . Actual Location of Facility • (s et. City. ZIP) Date Facility Began Operations
n qua" new business taaUtyl. give date ti quaf'dykV reptacemsnt new business l8ciity:
facility was e5tabtwod: (a) Gin date of riusUiwdon (b) was qual "lion a result of
0 $3.000.000 jnvesm+ont or
0 30D% investment increase
N quaff xV expansion new butinm facility:
(a) Tree dab of quaeficarior (b) Was qualification the result of (check or*)
O sl.000.Ooo invesin wrt 0 10 employee kKeeace owe
O 100 % increase in investment preosdin 12 monih avwne
1-0i-0 w"Ploym*nt at fS d*W beg" of tax Total wnpwyment as! tarty end of tax year Number of raw jobs anWpalyd during nexs
Weil' year:
Amount of raw business tadppr jobs tax Amount of sipria wrd processing new Amount of health insurance, now business
eredt claired business faa ly jobs trot aadit dairnod foduty jobs tax credirt claimed
s 3 s
Total captal awestment in zone during your CapiW mvestrnent quWying for ITC during Amount of EZ investment tax credit vtatmed
t"Ir
i $ S
Research and dmiopenenl expendow*s it Amount of Coborado research and develop- Inlornration is for tax year girding
=are during yew rnant tare credt claimed
s s ,19
1 dedam that all of the above /n bimlion is We and eorrea to the best of my knowledge and belief.
Sirwur* of Auta iz" COr"V OtfWOwnw. Cob. I.D. Number or SocW S*arigr Number:
rue: tom:
4 the duly stdhorrirwd adhr&>lstrs[ar of" above-ment onod Enterprise Zone, hwreby caroZy to the State of Colorado Depar&wnl of
Raventw that the above-named fw ty is entirely within the deVaW*d Entvgorisa 2orr•.
Signawm or Zone AdMin+snbr:
Date:
FOR MORE INFOPUATION ABWT ENTERPRISE ZONES CONTACT THE AGENCIES LISTED BELOW:
Colorado Departntenl of Revenue. Taxpayer Services Division. 1375 Sherman Suvvt. Room 204, Denver, CO 80261, Phone. 303-53d-1208 or
800-332.2M5 (toff-free within Cato,)
Colorado Oapartnrsnt of Loael Affairs, 1313 Sherrmn Street. Room 515. Denvef. CO 80203. Phone: 303.865-2205
Also. see D*parbrterd of Rravemv `FYI- Publicadons for information on dofinrown of terms.
C?\/ 4? (-
o l?so d MIOMFOE 'ON YUd d01 R NOP-M SAM Wd el : eO NOW 96-g 1-8dd
6PR-15-96 MON 04:19 PM MAYOR'S OR-ECON DEVELOP FAX NO. 3036407059
For rune information contact:
Evan Metcalf
Colorado Department of Laid Affairs
(303) 866.2205
FAX (303) 866-2251
Cokn& Department of Revenue
1375 Sherman St., Suite 204
Denver. CO 80261
(M) 534-1208 or
1,800-332-20M On-state calla only)
FAX = 866"3211
Dwmr Enterprise Zone Administrator
mares Of5ce of Economic Development
MS S'cdeenth Street Ma11
Suite 1000
De"r, CO 80202
(30Ci) 640-7100
FAX: (303) 640-059
City and County of Denver
Mam's Ofike of Economic Devebpmew
216 Sbdeernh Street
Suite 1+000
Denver, CO 80202
P. 10/10
i;;
BUDGET WORKSESSION
APRIL 16,1996
I. Discussion of Evaluation of Fiscal Conditions and Financial Indicators
A. Brief summary of overall City condition
B. Presentation of graphics
1. Positive /Marginal indicators - Net operating revenues and expenditures per capita,
Budgeted municipal employees, Operating surplus, Clearwater population
2. Negative indicators - Long term debt, Accrued compensated absences
II. Financial Forecast
A. Brief history and purpose of the financial forecast
B. Share financial position and results of City staff workshop of February 13, 1996
III. General Philosophy
A. Budget Calendar
B. Budget philosophy - continue program budget vs. Line item budget, service option?, etc.
IV. City Goals
A. Public Safety
B. Economic Development
C. Tourism
D. ?????????
V. Other Areas of Concern
A. Airpark (Enterprise vs. General Fund)
B. Pier 60 (Enterprise vs. General Fund)
C. Commission budget policies ( if not already addressed)
D. ???????????????
1''. Budget Calendar
1996197 Fiscal Year Budget
May ? Commission Workshop on Capital Improvement Program
June 28 City Manager's Budget Released
July 17 Proposed Millage Rate must be set (no later than)
??? Meetings with City Manager on her proposed budget
??? Town meeting on proposed budget
Sept 5 First Public Hearing on 1996/97 Operating and Capital Improvement Budgets
Sept 19 Second Public Hearing on 996/97 Operating and Capital Improvement Budgets
RAW,U?01
={
EVALUATION OF FISCAL
CONDITIONS AND FINANCIAL
INDICATORS
September 30, 1995
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Produced by the City of Clearwater Office of Management and Budget
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TABLE OF CONTENTS
Introduction ...................................................................................................... 2
Summary ........................................................................................................... 3
Revenues Indicators ......................................................... ......... 3
........................
Expenditures Indicators ........................................................................................ 9
Operating Position Indicators ............................................................................... 13
Debt Indicators ....................................................................................... 19
Unfunded Liability Indicators ... ........................................................................ 23
Capital Plant Indicators ...................................................................................... 27
Community Needs and Resources Indicators ..... ............. . ..................................... 34
Schedule of Revenue Factors ................................................................................ 39
Schedule of Expenditure Factors ........................................................................... 42
Schedule of Operating Position Factors ................................................................. 45
Schedule of Debt Structure Factors .................................................................... 47
Schedule of Unfunded Liability Factors....... . ................................................... . .... 48
Schedule of Capital Plant Factors ......................................................................... 50
Schedule of Community Needs and Resources Factors ............................................... 52
Selected Bibliography ........................................................................................ 53
Index ............................................................................................................. 55
1
?$ODUC'CION
The purpose of this analysis is to provide information on the impact of financial, economic and
demographic trends upon the City of Clearwater. The evaluation of the City of Clearwater's fiscal
condition was accomplished through use of the Financial Trend Monitoring System as outlined in the
International City Management Association's publication, Evaluating Financial condition; A Handbook
for Lfal Ggver-mment,
One important advantage of this report is that the analytical techniques it includes follow many of the
same approaches used by the municipal credit rating industry. These techniques can help to analyze and
interpret financial, economic and demographic trends of all kinds. Such analysis can help to focus on key
trends such as debt issuance, tax collection, operating results and econon* base. Not only is the
Financial Trend Monitoring System a valuable management information tool, but it can also provide a
framework for improving the city's overall financial management and decision making process. Trend
analysis is important in understanding financial condition. The trend graphs for this report were created
using Microsoft PowerPoint 7.0, which uses linear regression to fit the trend lines.
This report has been produced by the City of Clearwater's Office of Management and Budget.
CONSUMER PRICE INDEX
Many of the fiscal indicators in this publication use the Consumer Price Index (CPI) as a means of
standardizing dollar amounts over different years. The CPI is a measure of inflation. It tracks the prices of
goods and services purchased by the average urban wage earner and average clerical worker. Among the
items included are food, housing, clothing, transportation, health and recreation. In this book, the CPI is
measured using 1983 as the base year. If consumers spend more real dollars to buy the same goods as in
1983, the CPI rises by the percentage of increase in price. In the same way, the CPI declines when
consumer prices decline. The 1995 CPI reflects an inflation rate of 152%. The same goods that cost
$100 in 1983, cost $152 in today's dollars.
The term for real dollar data that has been adjusted for inflation using the CPI is constant dollar.
Below is a graph of the Consumer Price Index from 1986 to 1995.
INFLATION
Consumer Price Index
160.
140
120
100
80
60-
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20
F T
0
(D I,- co 4M 01
CD CD co CU a)
O/ O) C1 O?
C) O) 01 A) M QD CD CA Qf O1
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_ `- the onsu -er P? ce Ind x(C? Ij --
.,- - .?:a, sped c poi +n; e3 •< <??- -
- _ s the . ase: int of 100: =
• , _
SUMMARY
The overall financial condition of the City of Clearwater is very good.
Revenues for the most part have been increasing steadily along with the population. The revenue mix is
changing with the City showing an increased reliance on Restricted Revenues (single purpose revenues
such as grants), and Intergovernmental Revenues (from other government entities).
Expenditure indicators are positive except two. The increasing proportion of fixed costs is a negative
trend. Fixed costs have increased as a result of increased use of debt financing through lease purchases
and internal loans, and increased pension payments. Although the City's level of debt is increasing, debt
service payments are well below the acceptable level of 10% of operating revenues. The fringe benefits
expenditure as a percent of salaries and wages is a marginal trend. Although increasing, the rate is
slowing. The enterprise operating results are all positive except for the Pier 60 which continues to show
operating losses.
Capital Plant maintenance effort has been positive for storm sewers, streets, and sidewalks, and has
decreased slightly for water and sewer mains, solid waste, buildings, and equipment. Accruals of
compensated absences and pension revenues as a percent of benefits paid continue to have negative trends.
The newly approved pension plan changes and union contracts will improve these trends in time.
Although the unemployment rate and commercial business activity show negative trends, they both
showed improvement in 1995. The City is continuing to expand economic development activities and
focusing on increasing tourism. The move into the new Municipal Services Complex in May 1996 will
provide many opportunities for re-engineering City operations and services.
REVENUES
Revenues determine the capacity of a local government to provide services. The City has maintained a
strong revenue base even during trying economic times. Elastic Revenues (Property and Sales Taxes,
which are highly responsive to changes in the economy), Utility Tax Revenues and Franchise Fee
Revenues continue to show steady increases, a positive trend (see graphs on pages 6 & 7).
Restricted Revenues are legally earmarked for a specific purpose, such as grants and debt service funds.
These show a marginal trend. Although increasing over the past ten years, they are leveling off over the
last three years (see graph on page 5). Temporary Revenues are revenues from sources that are not
repeated in subsequent years or whose legal authority limits them to only a few years, such as interfund
transfers, use of reserves, single-purpose grants. These show a positive trend of decreasing over ten
years, but increased sharply in 1995 due to a large increase in grants for the Special Programs Fund (see
graph on page 6). Intergovernmental Revenues are received from other governments, and therefore are
outside the control of the City of Clearwater. These revenues show a steady increase over ten years,
indicating the City is becoming increasingly reliant on revenues controlled by other government entities, a
marginal trend (graph on page 5).
Property Tax Revenues (graphs on page 8) show an overall increase over ten years, but have decreased in
the past four years when measured in constant dollars, primarily because the City Commission has made a
determined effort to keep the millage rate level. Since 1991, both the millage rate and the appraised value
of existing property have decreased. Although still a positive trend, Property Tax Revenues, and more
specifically property tax values, are being monitored carefully. Uncollected Property Taxes remain at a
3
minimal level, a Ye[y pQsitiye trend (see page 8 for graph).
The level of Net Operating Revenues per Capita (in constant dollars) should remain constant, or increase,
when the City's population is increasing (see pages 34 & 35 ), in order to produce services for the
additional residents. Although Clearwater's Net Operating Revenues have increased slightly, 1I
rating Revenues per_._.Sapita are decreasing, a tMr areinal trend.
Net Operating Revenues
70
60
s0
40
30
20
10
0
constant dollar base year = 1983
Net Operating Revenues
Per Capita
W -4 0 C* C* O N W A
00
0
constant dollar base year = 1983
..a
t0
tD
Warning Trend to Watch For: decreasing net operating revenues per capita (constant dollars)
Clearwater Trend: Marginal
4
1986 87 88 89 90 91 92 93 94 1996
Restricted revenues
As a Percent of Net Operating Revenues
36%
30%
26%
20%
16%
10%
6%
0%
Warning Trend to Watch For: increasing amount of restricted operating revenues
as a percentage of net operating revenues
Clearwater Trend: Marginal
26%
20%
16%
10%
6%
0%
1986 87 88 89 90 91 92 93 94 1996
Warning Trend to Watch For: increasing amount of intergovernmental operating revenues
as a percentage of gross operating revenues
Clearwater Trend: Marginal
5
1986 87 88 89 90 91 92 93 94 1996
Intergovernmental Revenues
As a Percent of Gross Operating Revenues
60%
40%
30%
20%
10%
0%
1986 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: decreasing amount of elastic operating revenues
as a percentage of net operating revenues
Clearwater Trend: Positive
4%
3%
2%
1%
0%
1986 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: increasing use of temporary revenues
as a percentage of net operating revenues
Clearwater Trend: Positive
6
Elastic Revenues
As a Percent of Net Operating Revenues
Temporary Revenues
As a Percent of Net Operating Revenues
$14
$12
$10
$8
$6
$4
$2
$0
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year =1983
Warning Trend to Watch For: decline in utility tax revenues (constant dollars)
Clearwater Trend: Positive
$7
$6
$5
$4
$3
$2
$1
$0
1986 87 88 89 90 91 92 93 94 1996
constant dollar base year = 1983
Warning Trend to Watch For: decline in franchise fee revenues (constant dollars)
Clearwater Trend: Very Positive
¦
i ¦
7
Utility Tax Revenues
Franchise Fee Revenues
Property Tax Revenues
25
20
15
10
5
0
constant dollar base year = 1983
Warning Trend to Watch For: decline in property tax revenues (constant dollars)
Clearwater Trend: Positive
2.0%
1.8%
1.6%
1.4%
1.2%
`1.0%
0.8%
0.6%
0.4%
0.2%
0.0%
1985 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: increasing amount of uncollected property tax
as a percentage of net property tax levy
Clearwater Trend: Very Positive
1986 87 88 89 90 91 92 93 94 1995
Uncollected Property Tax
As a Percent of Property Tau Levy
MEtLDMDM
Expenditures are a rough measure of a local government's service output. GeneraUy, the more a
government spends in constant dollars, the more services it provides. ('This concept does not account for
the effectiveness or efficiency of the services.)
Clearwater's Net 4t;rating Expenditures (in constant dollars) have slowly increased over the past ten
years but the amount per capita has been almost constant, a positive trend (see graph on page 10). The
greatest change in the makeup of net operating expenditures has been the increased proportion devoted to
public safety expenditures and the decreased proportion devoted to transportation, which reflects the City
Commission's commitment to increase the number of police officers patrolling the City (see page 11). A
very positive trend is reflected in the General Fund Budgeted Municipal Employees per 100 Residents,
which is almost constant over the ten year period (graph on page 10).
Fixed costs as a percentage of net operating expenditures have increased over the past decade, a negative
trend (graph on page 12). Both pension payments and lease purchase payments have more than doubled,
and other debt service costs have increased 50 %. The amount of fringe benefits as a percentage of
salaries and wages has increased over the past eight years, but the years since 1991 have been less than the
1991 percentage (see graph on page 12). This is encouraging and reflects the effects of the City's actions
of changing its medical insurer through the bidding process effective January 1, 1995, putting a cap on
total employee leave, and slowing the accrual rates of employee sick leave.
Net Operating Expenditures
70
60
s0
40
30
20
10
0
constant dollar base year = 1983
9
1986 87 88 89 90 91 92 93 94 1995
$500
$400
$300
$200
$100
$0
.i CO CO CO W W W W W J
W -4 OO W O -? N W ?? to
to
CO
O N
constant dollar base year = 1983
Warning Trend to Watch For: increasing net operating expenditures per capita
(constant dollars)
Clearwater Trend: Positive
General Fund
Budgeted Municipal Employees
per 100 Residents
1.4
1.2
1.0
0.8
0.6
0.4
0.2
0.0
-?
.? co CO 00 W W to W CO
tMo -1 co to O -? N W O
W W
W W
constant dollar base year = 1983
Warning Trend to Watch For: increasing number of municipal employees per one hundred residents
Clearwater Trend: Very Positive
S
f
i
Net Operating Expenditures
per Capita
Net Operating Expenditures
1986
General
Physical Government
Environment, 12.7%
Economic
Environment &
Human Services
4.4%
Debt Service
3.7%
Culture &
Recreation
20.2%
Public Safety
46.5%
1995
Physical
Environment, General
Economic Government
Environment & 11.2%
Human Services
6.5%
Debt Service
3.4%
Culture &
Recreation
20.7%
Transportation
7.4%
Public Safety
50.8%
11
Transportation
12.4%
Fixed Costs
Debt Service, Pension & Lease-Purchase
26% __fj®_Percent of Net Operating Expenditures 10 Year Trend
20%
15%
10%
5%
0%
1986 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: increasing fixed costs as a percentage of net operating expenditures
Clearwater Trend: Negative
Fringe Benefits
As a Percent of Salaries & Wages
25%
20%
15%
10%
5%
0%
Warning Trend to Watch For: increasing fringe benefit expenditures as a percentage of
salaries and wages
Clearwater Trend: Marginal
17
1988 1989 1990 1991 1992 1993 1994 1995
OPERATING P0.$M_QN
The term operating position refers to a local government's ability to balance its budget on a current basis,
maintain reserves for emergencies and have sufficient liquidity to pay its bills on time. The accumulation
of operating surpluses builds reserves, which provide a financial cushion against events such as the loss of
a revenue source, an economic downturn, unanticipated expenditures required by natural disasters such as
tropical storms and hurricanes, insurance loss, unexpected capital expenditures and an uneven cash flow.
The City of Clearwater has had a positive General Fund operating surplus for each of the last ten years
(see graph on page 14). During that time Clearwater has built up a healthy reserve of $11,923,813, which
is a healthy 18.1 % of the total General Fund Budget. The City Commission policy of maintaining a
General Fund reserve of ten percent of the next year's budgeted General Fund expenditures assures that a
healthy reserve remains available for emergencies or other unanticipated needs.
Enterprise operating results are a special and highly visible type of operating deficit because the enterprise
fund programs are expected to function as if they were commercially operated private entities, rather than
governmental "not for profit" entities. The enterprise operating results as a whole are very good. This
is due, in large part, to the solid performance of the Gas, Solid Waste, and Water & Sewer Funds (see
pages 14 & 15). Also, operating results for the Yacht Basin & Marina have been positive over the past
five years (page 16). Stormwater Utility was established in 1991, and has had positive operating results
every year (page 16). The Recycling enterprise fund was established in the first quarter of fiscal year
1994 and has had very positive results for two years (see page 45). The Pier 60 and Parking Funds have
shown operating losses in more than one of the past four years (page 17). Pier 60 has reflected an
operating loss in nine of the last ten years. Extensive repairs and the completion of the "New Pier 60"
was finalized in 1994. Operating results continue to reflect a loss at the current time. In the Parking Fund
new parking rates have been slowly phased in. In addition, transferring the cost of Police Department
Beach Patrol and Meter Enforcement from the Parking Fund to the General Fund in Fiscal Year 1994, has
produced improved operating results for the Parking Fund in the last two years (see page 17). All of the
enterprise funds will be presenting five-year business plans to the City Commission 1996.
Cash Position is a good measure of a local government's short-run financial condition. Cash position,
which includes cash on hand and in the bank, as well as other assets which can be readily converted to
cash, determine's a government's ability to pay its short-term obligations. A liquidity ratio of less than
one to one is considered a negative factor. Clearwater's cash position shows a decrease in the liquidity
trend over the past ten years. Although decreasing, the City's li uidit ratio has always been at least four
to one, which is well over the 100% benchmark amount, a positive trend (see. graph on page 18).
13
General Fund
Operating Surplus
As a Percent of Net Operating Revenue
7%
6%
6%
4%
3%
2%
1%
0%
1986 87 88 89 90 91 92 93 94 1996
Warning Trend to Watch For: deficit as a percentage of net operating revenues
Clearwater Trend: Positive
Water and Sewer
Enterprise Operating Results
$8
$7
$6
$5
$3
$2
$1
$0
constant dollar base year ='1983
Warning Trend to Watch For: recurring enterprise losses (deficits) on a constant dollar basis
Clearwater Trend: Very Positive
x
z
i
t
1
f
i
i
14
1986 87 88 89 90 91 92 93 94 1995
$3.0
$2.5
$2.0
$1.5
$1.0
$0.5
$0.0
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year = 1983
Warning Trend to Watch For: recurring enterprise losses (deficits) on a constant dollar basis
Clearwater Trend: Very Positive
$3.0
$2.5
$2.0
$1.5
$1.0
$0.5
$0.0
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year = 1983
Warning Trend to Watch For: recurring enterprise losses (deficits) on a constant dollar basis
Clearwater Trend: Very Positive
15
Gas System
Enterprise Operating Results
solid Waste
Enterprise Operating Results
Yacht Basin and Marina
Millions
$100
$50
$0
($50)
Enterprise Operating Results
FN;?RoslDollam M Constant Dolisn --10-yr Trend Constant Dollars
constant dollar base year = 1983
Warning Trend to Watch For: recurring enterprise losses (deficits) on a constant dollar basis
Clearwater Trend: Positive
Stormwater Utility
Enterprise Operating Results
Millions
$1.5
$1.0
$0.5
$0.0
® Real Dollars s Constant Dollars
constant dollar base year = 1983
Warning Trend to Watch For: recurring enterprise losses (deficits) on a constant dollar basis
Clearwater Trend: Positive
16
1991 1992 1993 1994 1995
$100
$0
($100)
($200)
($300)
($400)
($500)
cc
Warning Trend to Watch For: recurring enterprise losses (deficits) on a constant dollar basis
Clearwater Trend: Negative
Parking System Fund
Enterprise Operating Results
$600
$400
$200
$0
1986 87 88 89 90 91 93 94 1995
($200)
($400)
I M Real Dollars ®Constant Dollais -10-yrTrend Constant Dollars
constant doiiar case year = 7 voi
Warning Trend to Watch For: recurring enterprise losses (deficits) on a constant dollar basis
Clearwater Trend: Marginal
17
Pier 60
Enterprise Operating Results
M I
Liquidity
Cash and Investments as a Percent of Current Liabilities
1000%
800%
600%
400%
200%
0%
1986 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: decreasing amount of cash and short-term investments
as a percentage of current liabilities
Clearwater Trend: Positive
18
i
s
12EB.IM
Debt is an effective way to finance capital improvements and even out short-term revenue flows, but its
misuse can cause serious fwancial problems. Even a temporary inability to repay debt can damage a
gavemment's credit rating, which can in turn increase its cost of future borrowing.
Current Liabilities are all the liabilities due at the end of the current year, and include short-term debt, the
current year portion of long-term debt, accounts payable and accrued liabilities. Clearwater's current
liabilities at year end have been increasing over the last ten years. Current liabilities as a percentage of net
operating revenues are 6.84% in 1995, which is above the 5176 considered acceptable by the credit
industry. However, the second condition of a negative trend, two consecutive years of increasing short-
term debt, did not occur in 1995. The ten year trend is marginal (sex graph on page 20).
The City's long-term net direct debt consisting of General Obligation Bonds Series 1978 and loans from
other funds increased in 1995 due to $3,845,896 of loans for the Harborview Center. Long-term net
direct debt decreased from 1986 through 1990, then increased in 1991 due to internal borrowing for
Countryside Boulevard widening and the purchase of the Maas Brothers property. The ten year trend is
marginal, showing a slight increase (page 21).
Credit Industry Benchmarks
Credit industry benchmarks for assessing long-term debt often include the net direct bonded debt of the
local government, as well as the bonded debt of overlapping jurisdictions that is geographically applicable
to the local govemment. In this report, net direct debt (bonded plus loans from other funds) plus
overlapping bonded debt is referred to as overall net debt. Warning signals for overall net debt are as
follows:
O Overall net debt exceeding 10 percent of assessed valuation
Clearwater's overall net debt is less than two percent of assessed valuation.
• Overall net debt per capita exceeding 15 % of per capita income
Clearwater's overall net debt is ,$65 per capita ($43 on a constant dollar basis), which is
well under $3,418 (15% of the $22,789 per capita income). Clearwater's 1995 overall net
debt is only 0.26% of per capita income.
• An increase of 20 percent over the previous year in overall net debt as a percentage of market
valuation
Clearwater's overall net debt as a percentage of assessed value (equivalent to market
value) increased by 92.8%, from 0.083% in 1994 to 0.160% in 1995.
• Overall net debt as a percentage of market valuation increasing 50 percent over the figure four
years earlier
Clearwater's overall net debt as a percentage of assessed value (equivalent to market
value) for 1995 increased by 15 % over 1991.
0 Net direct debt exceeding 90 percent of the amount authorized by state law
19
In 1995, Clearwater's long-term debt was 13.17% of the legal indebtedness limitation. The
portion of long-term debt defined as net direct debt was 0.89% of the legal indebtedness
limitation.
The City of Clearwater is well within the limits on four of the five benchmarks, although Clearwater's
overall net debt as a percentage of assessed valued almost doubled between 1994 and 1995 (page 21).
Debt Service is the amount of principal and interest that must be paid each year on net direct long-term
debt plus the interest that must be paid on direct short-term debt. Increasing debt service reduces
expenditure flexibility by adding to the government's obligations. Over the past ten years, Clearwater's
net direct debt service as a percent of net operating revenues has decreased and is well below the 10%
credit industry analysts consider acceptable, a very positive trend (page 21).
Overlapping debt is the net direct bonded debt of another jurisdiction that is issued against a tax base
within part or all of the boundaries of the community, such as transportation revenue bonds. The level of
overlapping debt is only that debt applicable to the property shared by the two jurisdictions. Clearwater's
overlapping debt has fluctuated over the past ten years, but has always been less than one percent of
assessed valuation, a very positive trend (page 22).
Current LiabUities
As a Percent of Net Operating Revenues
7%
6%
5%
4%
3%
2%
1%
0%
Warning Trend to Watch For: increasing current liabilities as a percentage of
net operating revenues for two consecutive years and
current liabilities exceeding 5% of net operating revenues
Clearwater Trend: Marginal
1986 87 88 89 90 91 92 93 94 1995
Long-term Debt
Net Direct Debt
As a Percent of Assessed Valuation
0.16%
0.14%
0.12%
0.10%
0.08%
0.06%
0.04%
0.02%
0.00%
1986 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: increasing net direct debt
Clearwater Trend: Marginal
5.00%
4.50%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
1986 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: increasing net direct debt service as a percentage
of net operating revenues
¦
iI
21
Debt Service
Net Direct General Debt
0.18%
0.16%
0.14%
0.12%
0.10%
0.08%
0.06%
0.O4'c
0.02%
o.OOP/O
1986 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: increasing long-term overlapping debt
as a percentage of assessed valuation
Clearwater Trend: Very Positive
Overlapping Debt
As a Percentage of Assessed Value
UX U1yDED I URIL ES
An unfunded liability is one that has been incurred during the current or a prior year, that does not have to
be paid until a future year, and for which reserves have not been set aside. The city's two major types of
unfunded liability are the pension liability and compensated absences. The city's unfunded pension
liability as a aercentagre of assessed valuation has had liabilities in excess of assets in only one of the past
ten years (1990). The surplus has been steadily increasing since then, a ve[y positive end (see graph on
page 24).
A pension plan's assets are held primarily as cash or investments. A decline in the ratio of plan assets to
benefits due can indicate serious problems in the management of the pension plan. The City of Clearwater
has four pension funds. The "regular" funds are funded by the City and include the Employee's Pension
Fund and the Fireman's Pension Fund. The "supplemental" funds are funded by the state and include the
Police Supplemental Fund and the Fireman's Supplemental Fund. The city's total pension fund assets as a
percentage of benefits paid has been slowly increasing for the past ten years, a very positive trend (page
24). However focusing on the "regular" pension funds, those not funded by the state, shows that both the
Employee's Pension Fund and the Fireman's Pension Fund assets have been decreasing as a percentage of
annual benefits paid (page 25).
An additional ratio to consider is the annual amount of pension receipts as a percentage of annual benefits
paid, which focuses more specifically on a pension plan's ability to meet its current cash requirements.
Although there have been peaks in the trend, pension fund revenues as a percentage of pension benefits
amid, has been decreasing, a negative trend (see graph on page 25). The stock market crash of 1987
contributed to the decline. However, as the stock market has improved the yield from investments has
risen. An ever increasing proportion of annual benefits paid are for disability pensions, which usually
involve a higher payment rate than retirement pensions, and contributes significantly to this negative
trend. The changes in disability payments agreed to in the most recent pension plan revision should
strengthen the long-term financial position of the pension plans.
Compensated absences refers to the accumulated portion of employee vacation and sick leave to be paid at
termination or retirement. The amount of accrued compensated absences per full time employ on a
constant dollar basis, has increased steadily over the past nine years, reflecting a very negative trend (page
26). Although both the total number of hours an employee may retain and the rate at which such hours
are accumulated have been reduced in recent years, the amount of accrued compensated absences
continues to increase. The caps and accrual rates are constantly being evaluated and changes are being
discussed.
23
Unfunded Pension Liability
As a Percent of Assessed Valuation
® % of Valuation ---10-yr Trend
0.2%
0.0%
-0.2%
-0.4%
-0.6%
-0.8°/10
positive number indicates liabilities in excess of assets
Warning Trend to Watch For: increasing unfunded pension liability
as a percentage of assessed valuation
Clearwater Trend: Very Positive
Pension Assets
As a Percent of Annual Benefits Paid
4000%
3500%
3000%
2500%
2000%
1500%
1000%
500%
0%
Warning Trend to Watch For: decreasing value of pension plan assets
as a percentage of benefits paid
Clearwater Trend: Very Positive
'! f 89 90 91
z
?i
urp us
24
1986 87 88 89 90 91 92 93 94 1995
Pension Assets
As a Percent of Annual Benefits Paid
4500%
4000%
3500%
3000%
2500%
2000%
1500%
1000%
500%
0%
Warning Trend to Watch For: decreasing value of pension plan assets
as a percentage of benefits paid
Clearwater Trend: Positive (Employee's Pension Fund still very healthy despite slight decrease)
Pension Revenues
As a Percent of Annual Benefits Paid
700%
600%
500%
400%
300%
200%
100%
0%
Warning Trend to Watch For: decreasing value of pension plan revenues
as a percentage of benefits paid
Clearwater Trend: Negative
25
1986 87 88 89 90 91 92 93 94 1995
1986 87 88 89 90 91 92 93 94 1995
Accrued Compensated Absences
Per FI'E Employee in Constant Dollars
$1,800
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
$0
constant dollar base year -1983 ; FTE = Full Time Equivalent
Warning Trend to watch For: increasing amount of accrued compensated absences
per municipal employee (full time equivalent)
Clearwater Trend: Very Negative
n ,-
1987 88 89 90 91 92 93 94 1995
CAPITAL PLANT
Most of the City's wealth is invested in its physical assets or capital plant, i.e. streets, buildings, utility
systems and equipment. If these assets are not properly maintained or are allowed to become obsolete, the
results are often decreasing usefulness of the assets, increasing cost of maintaining and replacing them and
decreasing attractiveness of the community as a place to live or do business.
Overall, Clearwater's maintenance efforts are stable to positive for most City enterprise funds.
Clearwater's maintenance efforts for storm sewers, streets, and sidewalks have increased, on a constant
dollar basis, over the past ten years (see graphs on pages 28 & 29). The maintenance efforts for water and
sewer mains have remained fairly stable over the same period (page 29). Although decreasing over ten
years, the equipment maintenance effort has been stable for the past four years (page 31). However the
maintenance efforts for solid waste and buildings have shown decreases over ten years. The decrease in
yearly building maintenance expenditures (page 31) is due to the systematic and on-going replacement of
roofs and air conditioners throughout the City and also due to reduced repairs to the Annex because of
construction of the Municipal Services Complex, and is a positive trend. The decrease in solid waste
maintenance (page 30) is partially explained by the completion of the new solid waste facility in 1994.
The City has recently spent approximately two million dollars renovating and reconstructing Pier 60,
which explains the low maintenance effort in recent years (page 32), and has invested capital dollars in a
project for major renovations at the Marina building (page 32). Also, the City has had extraordinary
expenditures in 1986 through 1988 for repairs necessary due to the settling of the Sand Key Bridge, which
has now been replaced with a new bridge that opened in 1995. Due to the unusual circumstances, we are
unable to identify a ten year trend for the Pier 60, Yacht Basin & Marina, and Toll Causeway & Bridge.
In addition, the reflection of most Capital Improvement Project R & R expenditures as Construction in
Progress for 1992 through 1995 in the gas fund, makes the identification of a ten year trend for gas main
maintenance impossible (page 30).
Expenditures for operating equipment drawn from the operating budget are usually referred to as capital
outlay. Capital outlay items include equipment with an initial cost above five hundred dollars that will last
longer than one year. Capital outlay expenditures as a percentage of net operating expenditures have
decreased slightly over the past ten years, a marginal trend (page 33). These expenditures tend to run in
four year cycles of three years of decreased expenditures and then a sharp increase.
27
Storm Sewers
Maintenance Effort
$9,000
$8,000
$7,000
$6,000
$5,000
$4,000
$3,000
$2,000
$1,000
$0
Warning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: Positive
Streets
Maintenance Effort
$8,000
$7,000
$6,000
$5,000
$4,000
$3,000
$2,000
$1,000
$0
Warning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: Positive
z
i
e
a
,a
28 i
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year -1983
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year -1983
Sidewalks
Maintenance Effort
$125 Thousands =Total Expenditures in
Constant Dollars
---10-yr Trend
$100
$75
$50
$25
$0
1986 87 88 89 90 91 92 93 94 1995
Constant dollar base year -1983
Warning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: Positive
Water and Sewer Mains
Maintenance Effort
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
$0
Waming Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: Marginal
29
?r
. 1
1.
r. r
x.
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year -1983
Solid Waste
Maintenance Effort
$125
$100
$75
$50
$25
$0
Warning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: Marginal
Gas Mains
Maintenance Effort
¦ Constant Dollars per Mile
$500
$400
$300
$200
$100
$0
Warning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: No Trend - 1992-95 maintenance expenditures treated differently than prior years
1986 87 88 89 90 91 92 93 94 1955
constant dollar base year -1983
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year - 1983
MM& V-
Equipment
Maintenance Effort
$000
=3,000
$2,000
$1,000
$0
Warning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: Marginal
Buildings
Maintenance Effort
$1.40 Ml Real Dollars per Square Foot
=Constant Dollars per Square Foot
$1.20 -10-yr Trend Constant Dollars
$1.00
$0.80
$0.60
$0.40
$0.20
$0.00
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year -1983
Warning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: Positive - Decreased maintenance due to systematic replacement of roofs
and air conditioners
-N -V
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year -1983
Pier 60
Maintenance Effort
$20
$15
$10
$5
$0
Waming Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: No Trend - Minimal maintenance form 1992-95 due to construction
of a new pier in 1993-94
Yacht Basin and Marina
Maintenance Effort
$1,000
$800
$600
$400
$200
$0
Warning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Clearwater Trend: No Trend - Due to Capital building improvements in 1993-94
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year -1983
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year -1983
Toll Causeway & Bridge
Maintenance Effort
r. $160
Vt.
:100
r $60
$0
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year - 1983
Waning Trend to Watch For: declining expenditures for maintenance of
general fixed assets per unit of asset (constant dollar)
Qearwater Trend: No Trend
3
{ Capital Outlay
General & Special Revenue Funds
5%
4%
3%
2%
1%
0%
Warning Trend to Watch For: a three or more year decline in capital outlay from operating funds
as a percentage of net operating expenditures
Clearwater Trend: Marginal
1.3
1986 87 88 89 90 91 92 93 94 1995
COMMUNITY NEEDS AND RESOURCES
The community needs and resources indicators encompass economic and demographic characteristics
including population, personal income, property value, employment and business activity. Community
needs and resources are difficult to translate into indicators because the data are not easy to gather.
The exact relationship between population change and other economic and demographic factors is
uncertain. Population change can, however, directly affect governmental revenues. For example, some
taxes are collected on a per capita basis, and many intergovernmental revenues and grants are distributed
according to population. Clearwater's population has been rising steadily over the past ten years with no
rapid changes, a positive trend (see graph on page 35).
As in the case with changes in population size, the relationship between the population's median age anc
other economic and demographic factors is not clear. Evidence does indicate, however, that an aging
population and an increase in the number of senior citizens can hurt both the revenue and expenditure
profiles of a local government. Although data specific to Clearwater is not available, Pinellas County date
indicates the median age of residents in Pinellas County has declined over the past ten years, a very
positive trend (see page 35).
Personal income per capita is one measure of a community's ability to pay taxes : the higher the per capit
income, the more property tax, sales tax and business tax the community can generate. If income
evenly distributed, a higher per capita income will usually mean a lower dependency on governmei.
services such as transportation, health, recreation and welfare. Although specific personal income pe
capita data is not available for Clearwater, the average personal income of Pinellas County residents ha
been virtually constant over the past ten years, a marginal trend (see page 36).
Changes in property value are important because Clearwater depends on the property tax for a substanti-
portion of its revenues. The change in Clear-water's constant dollar property value has decreased in six
the past ten years, a negative trend (page 36). The City has begun to confront this situation by inereash
efforts toward economic development, and concentrating on revitalizing the downtown area.
The net cost of serving residential development is generally higher than the net cost of serving commerei
or industrial development, because residential development usually creates more expenditure demands th
revenue receipts. The percentage of residential development as a percentage of total new development 1
decreased over the past ten years, a positive trend (page 37).
The unemployment rate refers to the number of employed citizens who live within the city's boundari
regardless of whether their jobs are within or outside the city. The unemployment rate for Clearwatei
not available, however the unemployment rate for the Tampa/St. Petersburg area includes Clearwat
Although the unemployment rate has decreased in years 1994 and 1995, the trend reflects an increase o
the past ten years, a negative trend (page 37).
The level of business activity as measured by the value of new commercial construction has decrea?
over the past ten years, a negative trend. However, 1995 showed a significant increase (page 38).
Clearwater Population
Sources: 1986-89 & 1991-95 City of Clearwater Central Permitting, 1990 Census
125 Population in Thousands -10-yrTrend
100
75
50
25
0
1986 87 88 89 90 91 92 93 94 1995
Warning Trend to Watch For: rapid change in population
Cleanvater Trend: Very Positive
1995 Population
102,590
50
40
iy
30
' 20
s
10
0
1988 1990 1991 1992 1993 1994 1995
Sources: 1988 b 1999. S. Petersburg Times Research Bureau; 199181992, US. Bureau of the Census;
1994. Sales and Marketing Mgmt Survey of Buying Power, 1995, Univ. of Florida, Bureau of
Economic and Business Research. Florida Statistical Abstract
Warning Trend to Watch For: increasing median age of population
Clearwater Trend: Very Positive
Median Age
PineHas county
1986 87 88 89 90 91 92 93 94 1995
constant dollar base year -1983
Warning Trend to Watch For: decline in personal income per capita (constant dollar)
Clearwater Trend: Marginal
Property Value
In Constant Dollars
Percent Change from Previous Year
10% tM Percent Change in Assessed Value -10-yr Trend
8% -
6%
4%
2%
0%
-2% 1986 87
-4%
88
91
constant dollar base year -1983
Warning Trend to Watch For: drop in the market (assessed) value (constant dollar)
Clearwater Trend: Negative
'Tq
Residential Development
As a Percent of Total New Development
70%
60%
50%
40%
30%
20%
10%
0%
f
Warning Trend to Watch For: increasing market value of residential development
as a percentage of market value of total development
Clearwater Trend: Positive
i..
Unemployment
Tampa/St. Petersburg
7%
6%
5%
4%
T 3%
z
1%
0%
blaming Trend to Watch For: increasing rate of unemployment
Ckarwater Trend: Negative
1986 87 88 89 90 91 92 93 94 1995
1986 87 88 89 90 91 92 93 94 1995
Source: Florida Department of Labor & Employment Security
125
100
75
50
25
0
Business Activity
Value of New Commercial Construction
p Comm Construction in Real Dollars
M Comm Construction in Constant Dollars
---10 yr Trend In Constant Dollars
1986 87 88 89 90 91 92 93 94 1996
constant dollar base year = 1983
Warning Trend to Watch For: decline in the value of new commercial construction (constant dollars)
Clearwater Trend: Negative
sly
IR
CITY OF CLEARWATER
SCHEDULE OF REVENUE FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
NOTE: All Numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
GENERAL FACTORS
i
CPI (1983 base) 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.3 152.4
Population 96,020 96,711 97,402 98,093 98,784 99,475 100,166 100,857 101,548 102,590
REVENUE FACTORS
Net Operating Revenues
General Fund 40,016 42,311 46,220 48,184 50,835 53,486 53,676 55,375 57,526 60,330
Special Revenue Funds 7,204 5,369 5,665 5,791 9,783 11,621 13,589 11,702 12,885 13,867
Less Local Option Gas Tax 0 0 -98 -92 -95 -413 -790 -812 -831 -854
Less Impact Fees -1,090 -953 -1,316 -1,157 -1,924 -1,144 -1,196 -551 -893 -1,186
Less Downtown Development -104 -125 -128 -58 -144 -161 -157 -148 -239 -135
Less Infrastructure Tax 0 0 0 0 -2,709 -4,753 -4,857 -5,257 -5,606 -6,008
Debt Service Fund 70 87 114 131 15 Q 52
92
131
110
4
Total, Net Operating Revenues
(Real Dollars) 46,096 46,689 50,457 52,799 55,896 58,788 60,357 60,440 62,952 66,108
Total NOR (Constant Dollars) 42,058 41,099 42,652 42,580 42,767 43,163 43,020 41,827 42,449 43,378
Per Capita NOR (Constant $) 438 425 438 434 433 434 429 415 418 423
Per Capita (Real Dollars) 480 483 518 538 566 591 603 599 620 644
Gross Operating Revenues
f
z
General Fund 42,023 43,370 47,236 49,383 53,268 57,506 57,123 58,595 61,675 64,660
Special Revenue Fund 7,294 5,722 6,124 7,638 10,527 12,008 14,004 12,420 13,356 15,644
Debt Service Fund 1,746 2.804 2.013 2.140 2.146 1.592 2.059 1.302 ,1,321 1.868
Total, Gross Operating Rev. 51,063 51,896 55,373 59,161 65,941 71,106 73,186 72,317 76,352 82,172
Restricted Operating Revenues
General Fund
CDBG reimbursement 190 138 162 124 120 158 0 139 134 257
State Revenue Sharing 2,563 2,707 2,714 2,655 2,553 2,337 2,207 2,287 2,194 2,260
CRA reimbursement 16 11 236 65 101 96 96 129 40 53
Fire Tax 887 888 934 980 997 1,052 1,023 1,184 1,163 1,171
EMS Tax 2,444 1,657 1,700 1,707 2,262 2,263 2,211 2,211 2,211 2,229
Special Revenue Funds 7,204 5,369 5,665 5,791 9,783 11,621 13,589 11,702 12,885 13,867
Debt Service Fund 70 37 114 31 150 _13 2 92 A M 24
Total, Restricted Operating
Revenues 13,374 10,857 11,525 11,453 15,966 17,679 19,218 17,783 18,737 19,431
Total as % of Net Oper. Rev. 29.0% 23.3% 22.8% 21.70/6 28.6% 30.1% 31.8% 29.4% 29.80/6 30.1%
Intergovernmental Operating Revenues
General Fund 8,167 8,749 9,383 9,347 9,935 9,723 9,510 10,130 10,124 10,861
Special Revenue Funds 2 07 1 6 0 1.560 1.354 4.382 6,806 ¢.877 7.175 7.808 8,922
Total, Intergovernmental
Operating Revenues 10,238 10,429 10,943 10,701 14,317 16,529 16,387 17,305 17,932 19,783
Total as % of Gross Oper. Rev. 20.0% 20.1% 19.8% 18.1% 21.7°/9 23.20/6 22.4% 23.9% 23.5% 24.1%
39
r
CITY OF CLEARWATER
SCHEDULE O F REVENUE FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
NOTE: All Numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
REVENUE FACTORS(cont'd)
Elastic Taxes Revenues
Property
General Fund 11,336 12,880 15,753 16,740 17,163 19,020 18,998 18,967 19,525 19,321
Special Revenues Fund 2,897 1,628 1,637 1,777 1,878 1,695 1,651 1,681 1,815 1,566
Sales Tax 2,344 2,809 3,360 3,418 3,472 3,430 3,442 3,768 3,931 4,122
Building Permits 937 746 768 849 88=8 730 772
Total, Elastic Tax Revenues 17,514 18,063 21,518 22,784 23,401 24,875 24,863 25,215 26,262 26,04C
Total as orb of Net Oper. Rev. 38.0% 38.7% 42.6% 43.2% 41.9% 42.3% 41.2% 41.796 41.70/6 39.40/
Temporary Revenues
General Fund
Federal Revenues (Grants) 164 94 170 124 342 296 85 214 308 33E
State Revenues 0 0 29 74 0 23 0 0 0
County Revenues 16 56 21 203 198 253 197 225 136 16:
Insurance Refunds, eLal. 193 13 25 31 21 65 8 8 66 1b
Special Revenue Funds Y
Donations 57 256 24 55 45 40 81 61 98 10C
Sale of City Property
(other than CRA) 90 18 17 0 4 3 8 55 0
Grants 1,063 1,302 1,033 847 851 1,156 842 733 1,048 1,791
Less CDBG
(Fed'I Comm. Dev. Block Grant) -190 -13 -62 -124 -120 -158 0 -139 -134 _W
Total, Temporary Revenues 1,393 1,601 1,157 1,210 1,341 1,678 1,221 1,157 1,522 2,16:•
Total as % of Net Oper. Rev. 3.0% 3.4% 2.3% 2.3% 2.4% 2.9% 2.0% 1.90/0 2.40/6 3.30
Property Taxes
Total Collections 13,272 14,849 17,933 19,008 19,510 21,241 21,185 21,147 21,758 21,54f
Levy 13,442 15,104 18,093 19,000 19,676 21,337 21,370 21,247 21,267 21,451
Gross Current Collections * 13,260 14,843 17,856 18,818 19,474 21,146 21,076 20,947 21,155 21,381
Uncollected Taxes
(Levy-Current Collections) 182 261 237 182 202 191 294 300 112 &
Uncollected Tax as % of Levy 1.4% 1.70A 1.3% 1.0% 1.0% 0.90A 1.4% 1.496 0.506 0.30,
Total Collections (Constant $) 12,109 13,071 15,159 15,329 14,927 15,595 15,100 14,635 14,672 14,14:
Tax Collected per Capita
(Constant Dollars) 126 135 156 156 151 157 151 145 144 131
Miilage (Tax per
$1,000 of Assessed Value) 4.5580 4.5580 5.0000 5.1000 5.1000 5.2037 5.1158 5.1158 5.1158 5.1151
* Gross Current Collections equa l Actual Collections plus Discounts
40
CITY OF CLEARWATER
SCHEDULE OF REVEN UE FAC TORS
FOR FI SCAL YEARS ENDING 1986-1995
Year
NOTE: All Numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
j REVENUE FACTORS (cont'd)
s
c
Utility Tax Revenues 8,148 8,337 8,285 8,557 9,085 9,531 9,955 10.741 11,832 12,736
Total (Constant Dollars) 7,434 7,339 7,003 6,901 6,951 6,998 7,096 7,433 7,978 8,357
Per Capita (Real Dollars) 85 86 85 87 92 96 99 106 117 124
Per Capita (Constant Dollars) 77 76 72 70 70 70 71 74 79 81
Franchise Fees 4,066 3,826 3,894 3,901 4,730 4,950 4,717 5,113 5,519 6,276
Total (Constant Dollars) 3,710 3,368 3,292 3,146 3,619 3,634 3,362 3.538 3,722 4,118
Per Capita (Real Dollars) 42 40 40 40 48 50 47 51 54 61
Per Capita (Constant Dollars) 39 35 34 32 37 37 34 35 37 40
Budgeted Net Operating Revenues
General Fund 39,337 42,152 45,720 48,323 50,679 52,278 53,534 54,903 57,935 59,498
Special Revenue Funds 5,496 3,899 4,181 3,679 7,198 8,805 11,321 9,430 11,857 9,943
Less Local Option Gas Tax 0 0 -3,232 -732 -732 -95 -280 -600 -750 -800
Less Impact Fees -1,059 .979 -1,305 -1,026 -1,627 -1,115 -1,244 -790 -770 -815
Less Downtown Dev. Board -99 -116 -125 -36 -135 -155 -149 -146 -229 -124
Less Infrastructure Tax 0 0 0 0 -2,486 -5,534 -5,100 -5,202 -5,306 -6,215
Debt Service Fund 70 87 114 1_31_ 150 152 92 131. jig 9A
r
Total, Budgeted Net Operating
Revenues 43,745 45,043 45,353 50,339 53,047 54,336 58,174 57,726 62,847 61,581
Variance from Actual (negative
number indicates surplus) -2,351 -1,646 -5,104 -2,460 -2,849 -4,452 -2,183 -2,714 -105 -4,527
Variance as
% of Net Operating Revenue •5.10°/a -3.53% -10.121a -4.660/6 -5.10°%o -7.5rA -3.62% -4.49° -0.17% -6.850A
E
F
t
f
s
i
41
CITY OF CLEARWATER
SCHEDULE OF EXPENDITURE FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
NOTE: All Numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
GENERAL FACTORS
CPI (1983 base) 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.3 152.4
Population 96,020 96,711 97,402 98,093 98,784 99,475 100,166 100,857 101,548 102,590
EXPENDITURE FACTORS
Net Operating Expenditures 40,200 43,444 45,391 50,229 52,523 54,360 56,220 56,662 58,681 63,500
In Constant $ 36,679 38,243 38,369 40,507 40,186 39,912 40,071 39,212 39,569 41,667
Per Capita Constant $ ($) 382 395 394 413 407 401 400 389 390 406
General Government 5,121 5,393 5,691 7,488 6,959 6,622 7,009 7,043 6,944 7,100
Public Safety 18,713 19,931 21,304 22,693 24,607 26,297 27,831 28,744 30,349 32,231
Physical Environment 844 858 1,012 1,074 1,070 1,411 1,435 1,428 1,461 1,368
Transportation 4,992 5,365 5,520 5,744 5,835 5,664 4,946 4,626 4,485 4,728
Economic Environment 626 536 509 5M 784 954 1,042 704 1,056 1,971
Human Services 313 462 407 603 642 348 436 656 638 760
Culture and Recreation 8,114 8,605 9,086 9,988 10,508 10,964 12,127 11,941 12,191 13,172
Debt Service 1,477 2,294 1,862 2,040 2,118 2,100 1,394 1,520 1,557 2,170
Budgeted Number of FTE Employees (General, Special Revenue and Debt Service ONLY)
General Govemment 78.3 73.5 73.5 79.5 78.0 77.00 76.0 86.5 92.0 94.0
Leisure 256.5 256.6 265.6 259.0 254.4 255.90 264.2 261.2 261.2 273.2
Fire 172.4 172.0 172.0 172.0 172.0 172.00 171.0 170.0 170.0 170.0
Police 315.3 318.6 326.6 355.2 367.2 376.20 377.2 374.2 373.2 380.7
Public Works 175.4 173.6 142.0 136.5 123.5 124.50 100.0 99.4 96.4 91.4
Community Development 28.1 28.0 57.0 56.0 56.5 58.0 57.0 47.0 39.0 44.0
TOTAL 1,026.0 1,022.3 1,036.7 1,058.2 1,051.6 1,063.6 1,045.4 1,038.3 1,031.8 1,053.3
Employees per 100 Residents 1.07 1.06 1.06 1.08 1.06 1.07 1.04 1.03 1.02 1.03
Salaries and Wages:
General Fund na na 26,364 28,382 30,253 30,937 32,048 33,311 34,134 35,938
Special Revenue na na 41 28 40 25 0 79 304 854
Total Salaries and Wages na na 26,405 28,410 30,293 30,962 32,048 33,390 34,438 36,792
Constant $ Per Employee ($) na na 21,530 21,651 22,040 21,373 21,850 22,255 22,506 22,920
Fringe Benefits:
General Fund na na 4,613 5,133 6,243 6,663 6,464 6,505 7,052 7,075
Special Fund na na 7 5 8 5 0 6 28 106
Total Fringe Benefits na na 4,620 5,138 6,251 6,668 6,464 6,511 7,080 7,181
Constant $ Per Employee ($) na na 3,767 3,916 4,548 4,603 4,407 4,340 4,627 4,474
Fringe Benefits as a % of
Salaries and Wages na na 17.5% 18.1% 20.6% 21.5% 20.2% 19.5% 20.6°x6 19.5°x6
42
CITY OF CLEARWATER
SCHEDULE OF EXPENDITURE FACTORS
FOR FISCA L YEARS ENDING 1986-1995
Year
NOTE: All Numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
EXPENDITURE FACTORS (cont'd)
Other Professional Services 383 486 594 708 358 442 591 866 1,060 1,691
Constant Dollar 349 428 502 571 274 325 421 599 715 1,110
Other Contractual Services 846 849 916 994 1,033 1,392 1,337 2,288 2,174 2,513
Constant Dollar 772 747 774 802 790 1,022 953 1,583 1,466 1,649
Fixed Costs:
Debt Service Costs 1,419 2,294 1,862 2,040 2,118 2,100 1,394 1,520 1,557 2,170
Lease-Purchaso Payments 1,299 1,923 1,870 1,312 2,030 1,957 2,233 2,624 2,725 3,098
Pension Payments
Employee 1,785 2,058 2,417 2,797 3,220 3,596 4,072 4,526 4,870 5,332
Fire 799 844 887 939 972 980 998 993 978 948
Police 97 158 176 184 299 254 710 325 332 161
Fireman's Supplemental 254 172 96 86 13-5 25 33 A 355 -8
Total Pension Payments 2,935 3,232 3,576 4,006 4,626 5,081 6,111 5,938 6,535 6,649
Total Fixed Costs 5,653 7,449 7,308 7,358 8,774 9,138 9,738 10,082 10,817 11,917
As a % of Operating Expenses 14.060/6 17.15% 16.100/6 14.650/9 16.71% 16.81% 17.32% 17.79% 18.43% 18.77%
Expenditures Imposed by Higher Govemments
Annual Mandated Expenditures:
Police na
Fire na
Parks and Recreation na
Finance na
Human Resources na
Risk Management na
Audit na
General Services na
Energy Office na
City Clerk na
Central Permitting na
Gas System na
Public Works-Water Division na
PW Water Pollution Control na
Public Works-Solid Waste na
PW-Environmontal/Watershed na
PW-Stonnwater Utility na
Utilities-Other na
Emergency Management na
Well Monitor/Fuel Tank Testing na
Marina Operations na
Total Annual Mandates na
na 288 na 984 984 1,594 1,691 1,696 1,817
na 118 na 172 178 191 490 523 568
na 4 na 27 27 24 18 10 17
na 3 na 60 60 100 126 126 131
na 0 na 0.4 0.4 0 82 82 87
na na na na na 1,106 1,398 1,418 1,352
na 0 na 82 82 0 0 0 0
na 0 na 50 50 0 2 1 3
na 0 na 0.4 0.4 0 na na na
na 0 na 10 225 241 290 300 300
na 0 na 31 31 31 13 12 108
na 449 na 542 542 947 981 1,371 1,885
na 609 na 310 310 73 86 122 127
na 0 na 578 578 617 679 1,055 1,504
na 89 na 936 936 953 800 1,447 1,367
na 0 na 83 109 322 196 196 0
na na na na na 738 547 554 571
na 129 na 0 0 0 0 0 0
na na na 5 5 0 0 0 0
na 1 na 0 0 0 0 0 0
na na na na na na 1 2 2
na 1,690 na 3,871 4,118 6,937 7,399 8,913 9,837
43
CITY OF CLEARWATER
SCHEDULE OF EXPENDITURE FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
NOTE- All Numbers $x,000
Unless Stated Otherwise 1986 1987 1968 1989 1990 1991 1992 1993 1994 1995
EXPENDITURE FACTORS (cont'd)
Expenditures Imposed by Higher Governments (cont'd)
One-Time Mandated Expenditures:
Parks and Recreation
Finance
General Services
Risk Management
PW-Water Pollution Control
PW-Water Division
PW-Environmenta VWatershed
Stonnwater Utility
Emergency Operation Center
Fire
Public Works-Airpark
Public Works-Water
W@IVFuel Tank Monitor
PW-InfrastructurelSewers
Engineering Services
Total One-Time Mandates
Total Mandated Expenditures
na na 0 na 1 0 0 0 0 0
na na 10 na 14 0 15 0 0 0
na na na na na na na 114 507 0
na na 0 0 0 0 0 0 100 0
na na 0 na 50,000 0 638 3,489 1.933 0
na na na na na na na 1 14 116
na na na na na na na 147 0 0
na na 0 na 550 0 0 0 0 0
na na 0 na 100 0 0 0 0 0
na na 8 na 0 0 0 48 0 0
na na 2 na 0 0 0 0 0 0
na na 0 na 0 0 322 172 0 0
na na 71 na 0 0 0 0 0 0
na na 0 na 0 0 304 223 0 0
na na na na na na na na 283 0
na na 91 na 50,665 0 1,279 4,194 2.837 116
na na 1,781 na 54,536 4,118 8,216 11,593 11.750 9,953
NOTE:
Annual and One-Time State and Federal Mandated expenditures are based on estimates provided by the Departments. For
the Fiscal Year ending in 1991, the same estimate was used for annual expenditures as for 1990, unless a department
specified differently.
i 1
44
CITY OF CLEARWATER
SCHEDULE OF OPERATING POSITION FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
NOTE: All numbers 4x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
GENERALFACTORS
CPI (BASE -1983) 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.3 152.4
POPULATION 96,020 96,711 97,402 98,093 98,784 99,475 100,166 100,857 101,548 102,590
OPERATING POSITION FACTORS
General Operating Fund
4
surplus (deficit) 2,059 1,969 3,337 542 1,141 2,309 500 1,188 1,371 1,570
Net Operating Revenues 46,096 46,689 50,457 52,799 55,896 58,788 60,357 60,440 62,952 66,108
Surplus/Deficit as % of N.O.R. 4.47% 4.22% 6.61% 1.03% 2.041/6 3.93% 0.83% 1.97% 2.18% 2.37%
Enterprise Funds Operating Results
(before operating transfers)
Water and Sewer 3,829 2,983 2,740 6,310 6,837 892 4,302 5,327 6,223 4,513
Water & Sewer (const. $)
4 3,494 2,626 2,316 5,089 5,231 655 3,066 3,687 4,196 2,961
4 Gas 772 1,047 1,361 1,029 1,176 853 2,492 2,148 2,070 1,403
Gas (constant $) 704 922 1,150 830 900 626 1,776 1,487 1,396 921
Solid Waste 396 535 1,013 987 1,467 720 412 1,715 1,790 1,209
Solid Waste(constant$) 361 471 856 796 1,122 529 294 1,187 1,207 793
Toll Causeway/Bridge Fund 109 -245 -550 418 -96 412 337 442 325 -19
TolliBridge (constant ) 99 -216 -465 337 -73 302 240 306 219 -12
s Yacht Basin and Marina -35 -44 119 53 -33 28 119 99 70 30
Yacht & Marina (const- $) -32 -39 101 43 -25 21 85 69 47 20
4
Parking System Fund
503
.502
335
578
417
61
-256
-3
250
97
Parking System (const. $) 459 442 283 466 319 45 -182 -2 169 64
Pier 60 -24 40 -31 -58 -72 -33 -55 -440 -41 -71
Pier 60 (constant$) -22 35 -26 47 -55 -24 -39 -304 -28 -47
Recycling no no no no no no no no 253 1,011
Recycling (constant ) no no no no no no no no 171 663
Stonnwater no no no no no 1,385 1,359 1,049 1,134 1,003
i Stormwater (constant no no no no no 1,017 969 726 765 658
Harborvlew no no no no no no no no 2 -92
Harborview (constant $) no no no no no no no no 1 -60
Airpark no 5 -23 -9 -21 -41 no no no no
Airpark (constant $) no 4 -19 -7 -16 -30 no no no no
45
CITY OF CLEARWATER
SCHEDULE OF OPERATING POSITION FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
NOTE: All numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
OPERATING POSITION FACTORS (conVd)
Unrestricted
General Fund Balance 6,692 5,673 6,387 4,865 5,330 9,181 10,817 8,990 14,627 11,924
Net Operating Revenue 46,096 46,689 50,457 52,799 55,896 58,788 60,357 60,440 62,952 66,108
Unrestricted as % of
Net Operating Revenues 14.520/6 12.15% 12.66% 9.21% 9.54% 15.62% 17.920/6 14.870/6 23.24% 18.040/6
Cash
Cash on Hand in Banks
General Fund 3 3 4 19 19 20 20 20 21 21
Special Revenue Funds 23 29 22 0 0 0 0 0 0 0
Debt Service Fund 0 0 0 0 0 0 0 0 0 0
Subtotal 26 32 26 19 19 20 20 20 21 21
Equity in Pooled Cash & Investments
General Fund 6,140 5,331 6,656 5,193 4,810 8,994 10,915 9,082 15,020 11,402
Special Revenue Funds 5,955 4,740 4,949 6,865 5,909 8,882 12,620 10,679 4,807 6,814
Debt Service Fund 748 1.130 1.237 1.403 1.503 1.074 1.799 x.681 1.523 1.612
Subtotal 12,843 11,201 12,842 13,461 12,222 18,950 25,334 21,442 21,350 19,828
Total Cash & Investments 12,869 11,233 12,868 13,480 12,241 18,970 25,354 21,462 21,371 19,849
Receivables
General Fund 1,639 1,668 1,850 1,863 1,964 2,032 2,151 2,896 2,884 3,729
Special Revenue Funds 72 155 276 216 241 228 132 109 80 75
Debt Service Fund 26 25 36 _U 8 $ $ $ $ 25
Subtotal 1,737 1,858 2,162 2,110 2,213 2,268 2,291 3,013 2,972 3,829
Due from Other Funds
General Fund 494 15 15 15 15 15 15 15 15 290
Special Revenue Funds 1,364 100 100 0 0 0 0 0 0 15
Debt Service Fund 0 0 0 0 Q Q 0 Q Q 0
Subtotal 1,858 115 115 15 15 15 15 15 15 305
Due from Other Governments
General Fund 502 580 540 560 782 518 792 518 494 495
Special Revenue Funds 125 56 76 144 1,064 1,250 1,241 1,306 1,423 1,610
Debt Service Fund 0 0 0 0 0 Q Q 0 Q 0
Subtotal 627 636 616 704 1,846 1,768 2,033 1,824 1,917 2,105
Total Cash & Investments,
Receivables, Due from Other
Funds & Other Governments 17,091 13,842 15,761 16,309 16,315 23,021 29,693 26,314 26,275 26,088
Current Liabilities
General Fund 1,501 1,844 2,146 2,269 2,173 2,225 2,900 3,427 3,367 3,701
Special Revenue Funds 98 323 448 761 714 866 364 284 415 823
Debt Service Fund 23 35 28 23 0 0 0 Q 0 0
Total Liabilities 1,622 2,202 2,622 3,053 2,887 3,091 3,264 3,711 3,782 4,524
Cash & Investments as
% of Liabilities 793.4% 510.1% 490.8% 441.5% 424.0% 613.76/6 776.8% 578.3% 565.1% 438.70/9
4 ti
CITY OF CLEARWATER
SCHEDULE OF DEBT STRUCTURE FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
NOTE: All Numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
GENERALFACTORS
CPI (base=,1983) 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.3 152.4
Clearwater Population 96,020 96,711 97,402 98,093 98,784 99.475 100,166 100,857 101,548 102,590
DEBT STRUCTURE FACTORS
F
r
Current Liabilities
Net Operating Revenues
Current Liabilities as % of
Net Operating Revenues
Long-term Debt
Net Direct Debt
Taxable Assessed Valuation
($x,000,000)
Net Direct Debt as a % of
Assessed Valuation
Net Direct Debt per Capita
(Real $)
Net Direct Debt per Capita
(Constant $)
Per Capita Income
Net Debt as %
of per Capita Income
Net Direct Debt Service
Net Debt Service as % of
Net Operating Revenue
Overlapping
Long-Term Bonded Debt
Overlapping Debt as % of
Assessed Value
Overall Net Debt 4,050 8,703 7,828 4,985 2,309 5,732 2,719 4,039 3,435 6,715
Overall Net Debt per Capita
(real $) 42 90 80 51 23 58 27 40 34 65
Overall Net Debt per Capita
(constant $) 38 79 68 41 18 42 19 28 23 43
1,622 2,202 2,622 3,053 2,887 3,091 3,264 3,711 3,782 4,524
46,096 46,689 50,457 52,799 55,896 58,788 60,357 60,440 62,952 66,108
3.520/6 4.72% 5.200/6 5.78% 5.16% 5.26% 5.41% 6.14% 6.01% 6.84°/6
3,657 3,037 2,395 1,723 1,036 4,027 2,612 2,508 2,402 6,139
3,015 3,395 3,621 3,742 3,857 4,125 4,180 4,188 4,181 4,186
0.120/6 0.09% 0.070/a 0.050/6 0.03% 0.10% 0.06% 0.06% 0.06% 0.15%
38 31 25 18 10 40 26 25 24 60
35 28 21 14 8 30 19 17 16 39
17,039 17,947 19,317 21,255 21,881 22,059 22,958 24,470 24,146 22,789
0.220/a 0.170/9 0.13% 0.08% 0.050/6 0.18% 0.11% 0.100/6 0.10% 0.26%
1,351 2,306 1,862 2,040 2,118 2,100 1,394 1,520 1,557 2,170
2.93% 4.94% 3.69% 3.860/6 3.790/6 3.571/6 2.31% 2.51% 2.47% 3.28%
393 5,666 5,433 3,262 1,273 1,705 107 1,531 1,033 576
0.01% 0.17% 0.15% 0.09% 0.0% 0.040/6 0.003% 0.04% 0.02°/6 0.01%
47
i
CITY OF CLEARWATER
SCHEDULE OF UNFUNDED LIABILITY FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
GENERALFACTORS
CPI (base a 1983) 109.6 113.6 118.3 124 130.7 136.2 140.3 144.5 148.3 152.4
Population 96,020 96,711 97,402 98,093 98,784 99,475 100,166 100,857 101,548 102,59(
UNFUNDED LIABILITY FACTORS
Unfunded Pension Liability
(a negative number indicates surplus, assets in excess of liabilities)
Emp. Pension Fund ($x,000) -21,965 -26,049 -5,773 -362 875 -2,443 -7,246 -10,781 -17,541 -13,70
Taxable Assessed Value
($x,000,000) 3,015 3,395 3,621 3,742 3,857 4,125 4,180 4,188 4,181 4,186
Unfunded Pension Liability
As % of Assessed Valuation
Per Capita (constant $)
Pension Assets ($x,000)
Employee Pension Fund
Firemen's Pension Fund
Police Supplemental Fund
Firemen's Supplemental Fd
Total
-0.73% -0.77% -0.16% -0.01% 0.02% -0.06% -0.170/c -0.26% -0.420A -0.330.
-209 -237 -50 -3 7 -18 -52 -74 -116 -SL
74,311 90,338 99,001 110,743 124,958 142,314 161,974 182,102 198,922 214,99:
2,853 2,856 2,799 2,709 2,577 2,479 2,395 2,332 2,325 2,410
2,742 3,245 3,827 4,377 5,112 5,810 5,935 6,572 6,892 7,692
2,304 2,514 2,757 3,051 3,381 3,991 5,415 5,937 6,278 6,747
82,210 98,953 108,384 120,880 136,028 154,594 175,719 196,943 214,417 231,842
Pension Plan Benefits Paid ($x,000)
Employee Pension Fund 1,785 2,058 2,417 2,797 3,220 3,596 4,072 4,526 4,870 5,332
Firemen's Pension Fund 799 844 887 939 972 980 998 993 978 948
Police Suppleme-itai Fund 97 158 176 184 299 254 710 325 332 161
Firemen's Supplemental Fd 254 172 96 86 135 251 331 94 355 208
Total 2,935 3,232 3,576 4,006 4,626 5,081 6,111 5,938 6,535 6,649
Pension Plan Assets as % of
Annual Pension Benefits Paid:
Employee's Pension Fd Pd
Firemen's Pension Fd Paid
Police Supplemental Fd Pd
Firemen's SupplemU. Fd Pd
Total
Pension Plan Revenues ($x,000)
Employee Pension Fund
Firemen's Pension Fund
Police Supplemental Fund
Firemen's Supplemental Fd
Total
4163% 4390% 40960/a 3959% 3881% 3958% 3978% 4023% 40850/9 40320h
357% 338% 316% 288% 265% 253% 2400/c 2351/9 238% 2540K
2827% 2054% 2174% 2379% 17101/6 22870k 836% 2022% 20760 4778%
907% 14621/9 2872% 3548% 2504% 1590010 1636% 63161/9 1768% 3244%
2801% 30620/6 3031% 30170/a 2941% 3043% 2875% 3317% 3281% 34870K
14,367 18,748 11,650 15,214 18,336 21,684 24,770 25,778 22,853 22,854
857 846 833 855 862 885 915 932 977 1,035
585 713 769 749 1,014 973 926 990 723 1,026
487 398 365 416 491 886 1,796 664 759 742
16,296 20,705 13,617 17,234 20,703 24,428 28,407 28,364 25,312 25,657
48
CITY OF CLEARWATER
SCHEDULE OF UNFUNDED LIABILITY FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
UNFUNDED LIABILITY FACTORS (cont'd)
Pension Plan Revenues As a % of
Annual Pension Benefits Paid:
Employee Pension Fund 805% 911% 4820A 544% 569% 603% 608% 570% 469% 429%
Firemen's Pension Fund 107% 100% 94% 91% 890/0 90% 9rA 94% 1000/0 1090/6
Police Supplemental Fund 603% 451% 437% 407% 339% 383% 130%o 305% 218% 637%
Firemen's Supplemental I'd 1920/a 231% 380% 484% 364% 3530/6 543% 706% 214% 357%
Total Annual Benefits Paid 555% 641% 381% 430% 448% 481% 465% 478% 387% 386°x6
Accumulated Employee Leave
Annual Dollar Amount of
Vacation & Sick Leave
General Fund ($x,000) na na na na na na 2,920 2,949 3,160 3,150
Par Employee na na na na na na 2,793 2,840 3,063 2,991
Other Funds ($x,000) na na na na na na 1,423 1,600 1,684 1,750
Per Employee na na na na na na 2,526 2,842 2,842 2,910
Total na na na na na na 4,343 4,549 4,844 4,900
Total Per Employee na na na 1,441 1,616 1,717 2,700 2,841 2,982 2,961
Total Dollar Amount of Accrued
Compensated Absences
($x,000) na 1,356 1,483 1,910 2,107 2,301 2,658 3,110 3,667 4,033
Per Employee (constant $) na 761 787 959 11019 1,049 1,178 1,344 1,522 1,599
Number of Municipal Employees
(FTE General Fund) 1026.0 1022.3 1036.7 1058.2 1051.6 1063.6 1045.4 1038.3 1031.8 1053.3
Other Funds 546.1 546.1 556.1 547.6 529.8 534.8 563.3 $63 592.5 601.3
Total 1572.1 1568.4 1592.8 1605.8 1581.4 1610.4 1608.7 1601.3 1624.3 1654.6
Salaries and Wages
(General & Special Funds)
($x,000) na na 26,405 28,410 30,293 30,962 32,048 33,390 34,438 36,792
Per FTE Employee na na 25,470 26,847 28,807 29,111 30,656 32,158 33,377 34,930
Average per hour
(40 hrs/wk * 52 wks) na na 12.25 12.91 13.85 14.00 14.74 15.46 16.05 16.79
49
f?
CITY OF CLEARWATER
SCHEDULE OF CAPITAL PLANT FACTORS
FOR FISCAL YEARS ENDING 1986-1995
Year
NOTE: All Numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 199:
GENERALFACTORS
CPI (base year n 1983)
Population
CAPITAL PLANT FACTORS
Maintenance Effort
Water and Sewer Mains
Expenditures
Exp. in Constant $
Miles
Exp. per Mile (Const. $)
Gas Mains
Expenditures
Exp. In Constant $
Miles
Exp. per Mile (Const. $)
Solid Waste
Expenditures
Exp. in Constant $
Exp. per 100 Population
(Constant $)
Toll Causeway & Bridge
Expenditures
Exp. in Constant $
Yacht Basin and Marina
Expenditures
Exp. In Constant $
Slips
Exp. per Slip (Const $)
Pier 60
Expenditures
Exp. in Constant $
Garage Fund
Exp. (Garage Charges)
Exp. in Constant $
Units of Equipment
Exp. per Unit (Const $)
Recycling
Expenditures
Exp. In Constant $
Exp. per 100 Population
(Constant $)
109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.3 152.4
96,020 96,711 97,402 98,093 98,784 99,475 100,166 100,857 101,548 102,591
841 760 589 718 788 828 277 1,691 651 81c
767 669 498 579 603 608 197 1,170 439 531
809 811 825 829 829 832 836 837 838 84(
948.50 824.92 603.50 698.47 727.27 730.68 236.17 1,398.14 523.84 632.7:.
59 123 142 192 257 164 32 114 42
54 108 120 155 197 120 23 79 28
370 381 395 404 404 442 452 475 475
145.95 283.46 303.80 383.26 486.72 272.42 50.46 166.09 59.62
89 112 82 102 72 132 72 137 83
82 99 69 82 55 97 51 95 56
85.40 102.37 70.84 83.86 55.77 97.43 51.23 94.00 55.11
185 111 162 5 4 22 5 27 148
168 98 137 4 3 16 4 19 100
4(
X
50`
59.77
6E
39
38.36
c
115 206 66 32 69 45 19 17 28 6£
105 181 55 26 53 33 14 12 19 4!
200 200 200 205 205 205 210 210 210 21G
525.00 905.00 275.00 125.89 257.53 161.17 64.49 56.02 89.91 215.61,
21 15 19 20 17 5 2 2 3
19 13 16 16 13 4 1 1 2
5,088 5,005 5,075 6,026 5,166 5,397 5,885 5,970 6,253 6,951
4,642 4,406 4,290 4,860 3,953 3,963 4,195 4,131 4,216 4,561
1,274 1,272 1,171 1,235 1,334 1,493 1,324 1,348 1,343 1,435
3,644 3,464 3,664 3,935 2,963 2,654 3,168 3,065 3,140 3,185
na na na na na na na na 1
na na na na na na na na 1 ?
na na na na na na na na 0.66 1.95
50
CITY OF CLEARWATER
SCHEDULE OF CAPITAL PLANT FACTORS
FOR FISCAL YEARS ENDING 1986.1995
Year
NOTE: All Numbers $x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
CAPITAL PLANT FACTORS (cont'd)
Maintenance Effort (conVd)
Buildings
Expenditures 794 947 966 953 1,144 1,134 814 1,094 887 847
Exp. in Constant 724 834 817 769 875 833 580 757 598 556
Square Feet (x,000) 1,066 1,100 1,124 1,120 1,104 1,089 1,095 1,073 1,073 1,103
Exp, per Square Foot 0.74 0.86 0.86 0.85 1.04 1.04 0.74 1.02 0.83 0.77
Exp, per Sq Ft (Const. $) 0.68 0.76 0.73 0.69 0.79 0.76 0.53 0.71 0.56 0.50
Streets
Expenditures 346 471 857 310 485 1,987 2,029 1,504 2,273 3,589
Exp, in Constant $ 316 415 724 250 371 1,459 1,446 1,041 1,533 2,355
Miles
(Paved & Unimproved) 325 343 328 329 328 328 328 313 313 313
Exp. per Mile (Const. $) 971 1,209 2,209 760 1,131 4,448, 4,409 3,325 4,897 7,524
Sidewalks
Expenditures 10 76 41 40 41 79 89 63 79 185
Exp. in Constant 9 67 35 32 31 58 63 44 53 121
Storm Sewers
Expenditures 228 134 221 481 196 133 789 771 1,473 814
Exp. in Constant 208 118 187 388 150 98 562 534 993 534
Miles 114 115 118 120 119 120 120 120 120 120
Exp. per Mile (Const. $) 1,825 1,026 1,585 3,233 1,260 814 4,686 4,446 8,277 4,451
Capital Outlay
General Fund 618 283 1,419 325 296 675 392
Special Revenue Funds 143 137 492 586 111 215 2,125
Total 761 420 1,911 911 407 890 2,517
Net Operating Expendib.ires 40,200 43,444 45,391 50,229 52,523 54,360 56,220
Capital Outlay as % of
Net Operating Exp. 1.890/6 0.97°x6 4.21% 1.81% 0.7rA 1.640/9 4.48%
305 459 585
137 125 125
442 584 710
56,662 58,681 63,500
0.78% 1.001A 1.12%
Depreciation Expense
Enterprise Funds 2,677 3,028 3,531 3,773 3,897 4,518 5,829 5,944 6,492 6,836
Internal Service Funds 1,916 2,040 2,121 2,303 2,238 2,616 2,492 2,767 2,667 2,735
Total 4,593 5,068 5,652 6,076 6,135 7,134 8,321 8,711 9,159 9,571
Cost of Proprietary Funds Depreciable Fixed Assets
Enterprise Funds 120,644 127,004 134,234 155,762 194,814 220,827 234,853 253,116 263,902 268,515
Internal Service Funds 16.724 18,069 22,143 26,320 29,166 28,661 30,074 29,507 30,717 32,439
Total Proprietary Funds 137,368 145,073 156,377 182,082 223,980 249,488 264,927 282,623 294,619 300,954
Depreciation as %
of Fixed Assets 3.34% 3.49% 3.61% 3.34% 2.740/c 2.86% 3.14% 3.080/6 3.11°x6 3.18%
51
a
CITY OF CLEARWATER
SCHEDULE OF COMMUNITY NEEDS AND RESOURCES FACTORS
FOR FISCAL YEARS ENDING 1985-1994
Year
NOTE: All Numbers %x,000
Unless Stated Otherwise 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
GENERAL FACTORS
118.3 124.0 130.7 136.2 140.3 144.5 148.3 152.4
97,402 98,093 98,784 99,475 100,166 100,857 101,548 102,590
43.6 na 42.2 42.1 42.3 42.3 42.9 42.2
(Pinellas County) 17,039 17,947 19,317 21,255 21,881 22,059 22,958 24,470 24,146 24,72
Constant Dollars 15,547 15,798 16,329 17,141 16,741 16,196 16,364 16,934 16,282 16,22
CPI (1983 Base) 109.6 113.6
Population 96,020 96,711
COMMUNITY NEEDS AND RESOURCES FACTORS
Median Age (years) na na
Personal Income per Capita
Property Value
Assessed Valuation (millions) 3,015 3,395 3,621 3,742 3,857 4,125 4,180 4,188 4,181 4,18f
Constant Dollar (millions) 2,751 2,989 3,061 3,018 2,951 3,029 2,979 2,898 2,319 2,747
% Change in Constant $
Property Value 8.15% 8.64% 2.42% -1.41% -2.21% 2.63% -1.63% -2.720A -2.73% -2.570/-
New Development
Residential
Commercial
Miscellaneous
Total New Development
Residential as a % of Total
Commercial Contraction
(Constant $)
Local Unemployment Rate
(Tampa/St. Pete SMSA)
Number of
Poverty Households
Number of
Residential Households
% of Households
below Poverty Level
83,487 46,939 42,150 37,140 74,169 34,937 25,956 29,296 49,950 53,61
61,726 42,650 45,510 121,554 47,382 24,251 32,766 42,051 37,164 77,48c-
6,767 9,199 13,219 22,580 16,983 17,453 18,020 20,113 17,922 28,843
151,980 98,788 100,879 181,274 138,534 76,641 76,742 91,460 105,036 159,944
54.93% 47.51% 41.78% 20.49% 53.54% 45.59% 33.82% 32.03% 47.56% 33.520/
56,319 37,544 38,470 98,027 36,252 17,805 23,354 29,101 25,060 59,844
5.3 5.0 4.7 5.3 4.8
1970 1980 1990
1,237 1,392 2,024
21,216 37,360 26,473
5.8% 3.70/6 7.6%
6.1 5.4 6.1 5.6 4.f
52
SELECTED BIBLIOGRAPHY
Bailey, Larry P. Comprehensive Governmental GAAP Guide. New York:
Harcourt Brace Jovanovich. 1990.
City of Clearwater, City Manager, Office of Management and Budget. Annual
Operating and Capital Budget. 1985-1996.
City of Clearwater, Finance Department. CEP Workpapers, 315 Fund. 9/30/93,
9/30/94, 9/30/95.
City of Clearwater, Finance Department. Audit Workpapers, General Fund 010,
CRA Fund 214, Long Term Debt Fund 953. 9/30/94,
9/30/95.
City of Clearwater, Finance Department. Comprehensive Annual Financial
Report. 1985-1995.
City of Clearwater, Finance Department. Comprehensive Annual Financial Report
Draft, 12/13/94 version. 9/30/94.
1994 Economic Yearbook, Florida Trend, April 1994, page 64.
1996 Economic Yearbook, Florida Trend, April 1996, page 103.
Financial Accounting Standards Board. Accounting Standards Current Text.
Norwalk, CT: Financial Accounting Standards Board.
Governmental Accounting Standards Board. Governmental Accounting Standard
Series_ Norwalk, CT: Financial Accounting Foundation.
International City Management Association. Evaluating Local Government
Finamcial Condition. Washington, D.C.: International City
Management Association. 1994.
St. Petersburg Times Research Bureau. 1988, 1993.
University of Florida, Bureau of Economic and Business Research. Florida
Statistical Abstract. 1995.
U.S. Department of Commerce, Economics and Statistics Administration, Bureau
of the Census. Area Statistics, Census of Retail Trade.
Vo1.2. 1972, 1977, 1982, 1987, 1992.
53
SELECTED BIBLIOGRAPHY
U.S. Department of Commerce, Economics and Statistics Administration, Bureau
of the Census. Current Housing Reports: Housing
Vacancies and Homeownership Annual Statistics: 1991.
1991.
U.S. Department of Commerce, Economics and Statistics Administration, Bureau
of the Census. 1990 Census of Population and Housing:
Summary _Social, Economic and Housing Characteristics,
Florida. 1991.
U.S. Department of Commerce, Economics and Statistics Administration, Bureau
of the Census. 1990 Census of Population and Housing:
Swnmary Population and Housing Characteristics, United
States. 1991.
54
Index
Bibliography ........................................................................................... 53
Bridge Maintenance Effort .......................................................................... 33
Budgeted Municipal Employees .................................................................... 10
Buildings Maintenance Effort ...................................................................... 31
Business Activity ...................................................................................... 38
Capital Outlay ......................................................................................... 33
Capital Plant Indicators .............................................................................. 27
Community Needs and Resources Indicators .................................................... 34
Compensated Absences .............................................................................. 26
Consumer Price Index ................................................................................. 2
Contents ..................................................................................................1
Current Liabilities ................................................................................... 20
Debt Indicators ........................................................................................ 19
Debt Service ........................................................................................... 21
Elastic Revenues ........................................................................................ 6
Employees Per One Hundred Residents .......................................................... 10
Enterprise Operating Results ....................................................................... 13
Equipment Maintenance Effort ..................................................................... 31
Expenditures Indicators ................................................................................ 9
Expenditures Per Capita ............................................................................. 10
Fixed Costs ............................................................................................ 12
Fleet Equipment Maintenance Effort .............................................................. 31
Franchise Fee Revenues ............................................................................... 7
Fringe Benefits ........................................................................................ 12
Gas Mains Maintenance Effort ..................................................................... 30
Gas Enterprise Operating Results .................................................................. 15
Index ..................................................................................................55
Internal Borrowing, Use of ......................................................................... 19
Intergovernmental Revenues .......................................................................... 5
Introduction ............................................................................................ .
Liquidity ................................................................................................ 18
Long-Term Debt ...................................................................................... 21
Maintenance Effort ................................................................................... 27
Marina Enterprise Operating Results ............................................................. 16
55
€A
Marina Maintenance Effort ........................................................................ 32
Median Age ........................................................................................ 35
Millage Rate ..... .................................................................................. 3,40
Net Operating Expenditures .................................................................... 9,11
Net Operating Expenditures per Capita ........................................................ 10
Net Operating Revenues ............................................................................. 4
Operating Position Indicators ..................................................................... 13
Operating Surplus ................................................................................. 14
Overlapping Debt ................................................................................. 22
Parking System Enterprise Operating Results ................................................... 17
Pension Assets .................................................................................... 24,25
Pension Revenues .................................................................................. 25
Personal Income Per Capita ..................................................................... 36
Pier 60 Enterprise Operating Results ............................................................. 17
Pier 60 Maintenance Effort ............ ........................................................... 32
Population ............................................................................................. 35
Property Tax Revenues ........................................................................... 8
Property Value ........................................................................................ 36
Recycling Enterprise Operating Results .......................................................... 13
Recycling Maintenance Effort ...................................................................... 50
Residential Development ............................................................................ 37
Restricted Revenues ................................................................................... 5
Revenue Shortfalls/Surpluses ............ ........................................................... 14
Revenues Indicators .................................................................................. 3
Revenues Per Capita .................................................................................. 4
Schedule of Capital Plant Factors .................................................................. 50
Schedule of Community Needs and Resources Factors..... ................................... 52
Schedule of Debt Structure Factors ................................................................ 47
Schedule of Expenditure Factors ................................................................. 42
Schedule of Operating Position Factors .......................................................... 45
Schedule of Revenue Factors ...................................................................... 39
Schedule of Unfunded Liability Factors .......................................................... 48
Sidewalks Maintenance Effort .................................................................. 29
Solid Waste Enterprise Operating Results........ ................................................ 15
Solid Waste Maintenance Effort ................................................................. 30
Storm Sewers Maintenance Effort ............................................................. 28
Stormwater Utility Enterprise Operating Results ............................................... 16
Streets Maintenance Effort .......................................................................... 28
56
Summary ................................................................................................ 3
Surplus Revenues .......................... ........................................................... 14
Table of Contents .......................... ............................................................1
Temporary Revenues..................... ............................................................. 6
Toll, Causeway and Bridge Maintenance Effort ................................................ 33
Uncollected Property Taxes .......................................................................... 8
Unemployment Rate.. ................................................................................ 37
Unfunded Liability Indicators ................ ...................................................... 23
Unfunded Pension Liability ......................................................................... 24
Unrestricted General Fund Balance .......................................................... 13,46
Use of Internal Borrowing .......... ............................................................... 19
Use of Reserves ....................................................................................... 13
Utility Tax Revenues........................... ........................................................
Water and Sewer Enterprise Operating Results ................................................. 14
Water and Sewer Mains Maintenance Effort .................................................... 29
Yacht Basin W.A lAarina Enterprise Operating Results ........................................ 16
Yacht Basin and Marina Maintenance Effort .................................................... 32
57
Wes;
CITY EMPLOYEE GROWTH
THIRTEEN YEAR HISTORY
Total Approved Positions FY 1995/96 19653.8
Total Approved Positions FY 1983/84 1,596.8
Difference 57.0
Expansion of Current Proerams
Gas System Expansion
FY 1991/92 4.0
FY 1992/93 1.0
FY 1993/94 22.7
FY 1994/95 3.3
FY 1995/96 1.0
Total Gas 32.0
Tourism Development 1.5
Community Outreach 5.0
Organizational & Employee Development 3.0
Library Cooperative - 1994/95 13.3
Countryside Library staffing - 1987/88 6.0
Custodians - 1994/95 2.0
Total Library 21.3
Police:
FY 1985/86
Enhanced !traffic enforcement 6.0
School Officer - Countryside 1.0
Increase presence at Greenwood Substation 2.0
FY 1986/87
Supervisor Communications 1.0
Police Service Technicians - to make officers
available for patrol 5.0
FY 1987/88
Police Service Technicians - to make
officers available for patrol 5.0
FY 1988/89
Police Service Technicians - to make
officers available for patrol
Patrol Officers - increase patrol
strength
Police Aides Program
FY 1989/90
Patrol Officers - increase patrol
strength
Police:
FY 1990/91
Downtown walking patrol officer
Additional officer to support Countywide
drug task force
Additional conumnications officers
FY 1994/95
Custodians - New Buildings
Total Police
Water Pollution Control
FY 1990/91
Belt press operators - to support new process
at Marshall Street plant
FY 1995/96
Utility Mechanic
Water Distribution -
FY 1989/90
FY 1995/96
Community Response - Water Inspector
Total Water & Sewer
Information Services - FY 1989/90
In-House maintenance depot
Beach Guards
Sand Key - FY 1985186
Total Beach Guards
Solid Waste/Recycling
FY 1990/91
To meet demands of increased participation
5.0
10.0
14.6
10.0
1.0
1.0
3.0
4.2
2.0
1.0
4.0
1.0
5.0
68.8
8.0
2.0
6.8
1993/94
in yard waste and curbside recycling pgms
FY 1991/92
FY 1994/95
Expand recycling efforts
FY 1995/96
Total Solid Waste/Recycling
Stormwater Utility
FY 1991/92
Parks and Recreation
FY 1990/91
To maintain Forest Run Park, and clean the
new restroom buildings on the beach
FY 1991/92
Provide maintenance for Courtney Campbell
Additional seasonal staff at MLK
Total Parks & Recreation
Sailing Center
FY 1991/92
FY 1992/93
To provide staffing support
Total Sailing Center
City Clerk
FY 1992/93
Board Reporter
Fleet Maintenance
FY 1992/93 - mechanic
TOTAL
5.0
1.5
9.0
2.0
1.5
1.0
.8
1.5
.5
17.5
16.0
3.3
2.0
1.0
1.0
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QUALITY OF LIFE - Profile
Results from Subgroup: TOTAL CONSENSUS
Importance of This Issue in the FUTURE
P Importance of This Issue in the PAST
hom
ConwnNtri shopping & restaurants
al community atmosphere
Ural & ethnic diversity
nth strong tourist appeal
me religious choices
Rank
P
24 12
25 20
26 27
27 26
28 28
f
h
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fi
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QUALITY OF LIFE - Profile
Results from Subgroup: TOTAL CONSENSUS
Item
Importance of This Issue In the FUTURE
P Importance of This Issue In the PAST
An effective, quality police force
Safe neighborhoods, parks, and beaches
A community committed to quality education
Accessible, high quality medical services
A responsive and effective city government
Job and economic opportunities for all
High quality fire protection
Good planning for managed growth
A vital business environment
A commitment to environmental concerns
Activities and programs for youth
A family-oriented community
Housing alternatives for all income levels
Accessible, well-stocked libraries
A downtown where we can live, work & shop
Harmonious racial relations
Services to meet needs of senior citizens
A community with a sense of common purpose
Ample green spaces & open areas
Planned, attractive & varied neighborhoods
Diverse, high quality recreation opportunities
Attractive, family-oriented beaches
High quality cultural activities for all
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