Annual Report 2018 Annual Report | Page 3

Jupi t er ’s B ud get at a Gl a nc e Our region continued to enjoy economic gains throughout Fiscal Year 2018, enabling the Town to maintain a property tax rate consistent with the previous year. Despite having to allocate substantial resources in the wake 13.9% 38.3% Town of Jupiter of Hurricane Irma, Federal and planned emergency funding assisted with Fire Rescue minimizing the economic impact to Jupiter, allowing the Town to continue 9.9% Palm Beach County to be forward-thinking with its resources in FY19. Special Taxing Districts In the course of its financial planning for the year, the Town used a strategic School Board 12.4% 25.5% approach to the utilization of its financial resources for FY19, with the most significant investments for FY19 consisting of salary and insurance needs for its employees. The Town’s FY2019 – 2023 Community Investment Plan decreased over the previous year through efforts to better align capital investments to the strategic plan. The overall amended budget for FY18 was $111.7 million. Looking forward, the Town has adopted an FY19 overall budget of $98.1 million and a five-year Community Investment Program (CIP) of $26.8 million for FY2019 - 2023 (excludes funds Water and Stormwater funds), with $5.3 million of the total CIP planned for allocation in FY19. Fiscal Year 2018 - Amended Budget (October 1, 2017 - September 30, 2018) Community Investment Program 18.5% Debt - Community Ctr/Open Space 1.9% General Fund 45.9% $111,737,276 Debt - Capital Improvements 4.1% Building 4.1% Stormwater 2.6% Water 22.7% 2018 General Fund Revenues Utilization of Fund Balance 2.0% Miscellaneous 1.5% Inter- governmental 5.2% Fines & Forfeitures 0.4% $51,287,480 Transfers 7.4% Charges for Services 15.0% Licenses & Permits 9.8% Ad Valorem Taxes 40.2% Other Taxes 18.5% 2018 General Fund Expenses Engineering & Public Works 11.3% Jupiter’s fiscal year begins October 1 and goes through September 30. The total revised budget in FY18 was $111.7 million, including $20.7 million in capital investments. This is an increase of $14.5 million over FY17. In FY19, the total adopted budget decreased from the previous year to $98.1 million largely due to a change in priority relating to capital investments. Where the Money Comes From... Property taxes, also known as ad valorem taxes, are the most significant source of funding for Jupiter’s general operations. The Town has adopted a tax rate for FY19 that is consistent with the tax rate from FY18. Given the strength of the economy, FY19 tax revenues are expected to be higher than FY18 revenues primarily due to an increase in property values. This has allowed the Town to forego increasing the FY19 tax rate. Where the Money Goes... General Government 34.5% $51,287,480 Police 43.1% Jupiter’s Total Budget Parks, Recreation, Business Svcs 10% The Town of Jupiter continues to place great importance on the safety and security of its citizens. Law enforcement makes up the largest portion of Town expenditures, followed by General Government operations. These general operations include recreation and neighborhood programs, financial management, planning and zoning, parks and open spaces, and much more. As a percent of the total, the Town will reduce the government expenditure amount this year, while the percentage of expenditures for law enforcement will increase slightly. Fiscal Year 2019 - Adopted Budget (October 1, 2018 - September 30, 2019) Community Investment Program Debt - 5.4% Community Ctr/Open Space 2.2% General Fund 53.8% $98,142,906 Debt - Capital Improvements 4.9% Building 4.2% Water 26.5% Stormwater 3.1% 2019 General Fund Revenues Utilization of Fund Balance 0.4% Miscellaneous 1.5% Inter- governmental 5.1% Fines & Forfeitures 0.3% $52,806,773 Ad Valorem Taxes 41.2% Transfers 7.8% Charges for Services 16.3% Licenses & Permits 1.0% Other Taxes 26.4% 2019 General Fund Expenses Engineering & Public Works 11.3% General Government 33.4% $52,806,773 Police 44.9% Parks, Recreation, Business Svcs 10%