City Manager's Annual Report Annual Report 2018 | A Year In Review | Page 46

ACCOUNTABILITY
Council Reduces Millage Rate for Third Year in a Row
In 2018, City staff and City Council were
focused on moving Port St. Lucie into
the future with a definitive plan of fiscal
strength. This plan provided oversight of a
$410,536,890 budget, launching a refined,
robust and transparent budget process that
reduced the operating millage rate and
provided steady debt reduction, in accordance with the strategic
plan. Total adopted amounts do not include reserve funds as in
previous years. The three priorities in developing the
budget were:
City Council approved a millage rate decrease for the third year
in a row. The millage rate is the rate of tax per $1,000 of taxable
property value. For Fiscal Year 18/19, the City’s operating
millage rate is 5.0807, and voter-approved debt service millage
for the Crosstown Parkway remains at 1.2193. That means the
overall total millage is now 6.3000, a drop of one-tenth of a mil
from the previous fiscal year. • Addressing deferred maintenance by unwinding
budget-balancing decisions made during the
Recession in a manner that is sensible and
responsive to long-range planning.
Total Full-time
Employees for
FY 2018-19
is 1,096.44 which
is a net increase
of 11.38 staff
• Maintaining current levels of service – while
incorporating the additional Southern Grove taxes
and assessments.
• Maintaining the City’s infrastructure, equipment,
facilities, services and programs - effect
improvements in critical areas of concern.
Overall, the approved budget continues Port St.
Lucie’s fiscally sound and conservative approach
to managing taxpayer dollars as the City nears a
population of more than 190,000 citizens.
City Council also approved the concept of creating a biennial
budget during the Winter Retreat in February 2018. The benefits
of preparing a biennial budget include providing the ability to
look further into the planning horizon, giving constituents
additional information and understanding of the City’s direction
and enabling a smoothing out of the budgeting process each
year.
Additionally, taxable values have continued to
increase.
2018 Taxable Value was
$9,766,646,033
11.30% Increase from the prior year
Despite absorbing the $5.7 million annual cost for accepting
the Southern Grove jobs corridor (please see Highlights section
for more information), the City remains committed to the levels
of city services enjoyed by residents. The budget allocated
$900,000 to address deferred maintenance of our facilities city-
wide, and staff continues to address fleet needs by replacing
aging vehicles.
BUDGET
2016 Taxable Value was
$7,901,476,874
9.18% Increase from the prior year
FISCAL YEAR
18/19
12.3%
INCREASE
FROM FY 17/18
WHICH IS
± $44M
TOTAL BUDGET
$410,536,890*
FISCAL YEAR
19/20
$405,283,015*
GENERAL
FUND
INCREASE
9%
FROM FY 17/18
WHICH IS ± $9M
$104,605,353
CITY OF PORT ST. LUCIE 2018 ANNUAL REPORT
1.3%
DECREASE
FROM FY 18/19
WHICH IS
± $5.3M
TOTAL BUDGET
ADOPTED AMOUNTS DO NOT INCLUDE RESERVE
FUNDS AS IN PREVIOUS YEARS.
46
11.06% Increase from the prior year
The entire budget document and a budget-in-brief can be found at www.cityofpsl.com/budget.
The Fiscal Year 2018-19 and 2019-20 Annual
Budgets allocate resources to support Port St. Lucie’s
Strategic Plan goals. The City Manager’s Budget was
provided to the City Council for approval. This year
the City is implementing a Biennial Budget which
provides constituents with additional information and
an understanding of the City’s strategic direction.
City Council officially adopted the FY 2018-19
appropriations in the budget, leaving room for
adjustments in FY 2020.
* TOTAL
2017 Taxable Value was
$8,775,280,611
GENERAL
FUND
INCREASE
3.5%
FROM FY 18/19
WHICH IS ± $3.8M
$108,398,649