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ITEM: RESOLUTIONS ADOPTING PRELIMINARY TRIM RATES FOR WELLINGTON, THE ACME IMPROVEMENT DISTRICT AND THE SADDLE TRAIL PARK NEIGHBORHOOD IMPROVEMENT DISTRICT AS FOLLOWS:
A. RESOLUTION NO. R2024-27 (ADOPTING THE PRELIMINARY AD VALOREM MILLAGE RATE FOR WELLINGTON FOR TRUTH-IN-MILLAGE (“TRIM”) PURPOSES WITHIN THE JURISDICTIONAL BOUNDARIES OF WELLINGTON)
A RESOLUTION OF WELLINGTON, FLORIDA’S COUNCIL ADOPTING THE PRELIMINARY AD VALOREM MILLAGE RATE FOR WELLINGTON FOR TRUTH-IN-MILLAGE (“TRIM”) PURPOSES FOR THE MUNICIPALITY’S FISCAL YEAR 2024-2025 BUDGET WITHIN THE JURISDICTIONAL BOUNDARIES OF WELLINGTON; AND PROVIDING AN EFFECTIVE DATE.
B. RESOLUTION NO. AC2024-05 (ADOPTING THE PRELIMINARY NON-AD VALOREM ASSESSMENT RATES FOR THE ACME IMPROVEMENT DISTRICT FOR TRIM PURPOSES)
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ACME IMPROVEMENT DISTRICT ADOPTING THE DISTRICT’S PRELIMINARY NON-AD VALOREM ASSESSMENT RATES FOR TRUTH-IN-MILLAGE (“TRIM”) PURPOSES; AND PROVIDING AN EFFECTIVE DATE.
C. RESOLUTION NO. R2024-28 (ADOPTING THE PRELIMINARY NON-AD VALOREM ASSESSMENT RATES FOR THE SADDLE TRAIL PARK NEIGHBORHOOD IMPROVEMENT DISTRICT FOR TRIM PURPOSES)
A RESOLUTION OF WELLINGTON, FLORIDA’S COUNCIL ADOPTING THE PRELIMINARY NON-AD VALOREM ASSESSMENT RATES FOR THE SADDLE TRAIL PARK NEIGHBORHOOD IMPROVEMENT DISTRICT FOR TRUTH-IN-MILLAGE (“TRIM”) PURPOSES WITHIN THE JURISDICTIONAL BOUNDARIES OF WELLINGTON; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approval of the following resolutions setting TRIM rates for ad-valorem taxes and non-ad valorem assessments for Wellington, Acme Improvement District and Saddle Trail Park South Neighborhood Improvement District (NID) debt as required by law:
A. RESOLUTION NO. R2024-27: The ad valorem millage rate proposed at 2.47 mills (no change from the current year rate), and 8.48% above the rollback rate of 2.28 mills.
B. RESOLUTION NO. AC2024-05: Non-ad valorem assessments for the Acme Improvement District proposed at $255.00 for all units except Palm Beach Polo Units with the proposed assessment rate of $283.00.
C. RESOLUTION NO. R2024-28: Non-ad valorem assessment rates for the Saddle Trail Neighborhood Improvement District for TRIM purposes according to the attached assessment roll.
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EXPLANATION: Truth-in-Millage (TRIM) rates are due to the Palm Beach County Property Appraiser’s office by July 30th to comply with the TRIM process timeline. The accompanying resolutions specify the preliminary millage and non-ad valorem assessments to be included on the annual TRIM notice for all taxable property within Wellington, the Acme Improvement District and the Saddle Trail Park South Neighborhood Improvement District.
The final millage and assessment rates will be adopted following the required public hearings in August and September. The Council may adopt final rates at or below preliminary TRIM rates. TRIM rules allow for several rate options as shown in the Millage Rates attachment.
The proposed rates will fund the FY 2024-2025 preliminary budget and capital improvement plan (CIP) presented to Council. The preliminary General Fund budget totals $67.19 million including transfers, up $1.97 million or 3.0%, from the FY 2023-2024 adopted budget of $65.23 million, due to the rising cost of PBSO contract, senior transportation, personnel, facility maintenance, and road maintenance operations. The General Fund is balanced at 2.47 mills with no use of fund balance.
The preliminary Acme Fund Budget totals $7.43 million, up $681,000 from last year in operating costs. The $255 annual assessment for all units is unchanged from FY 2023-2024 and balances the Acme budget with the use of $642,000 in fund balance. Palm Beach Polo units are assessed $28 more, or $283 per unit to provide surface water management services to former golf course acreage converted to open space, an increase of $7 from the prior year.
The assessments for the Saddle Trail NID (Neighborhood Improvement District) are unchanged from last year and fully fund annual debt service of $270,000 on loans issued to pay for the neighborhood improvements. FY 2025 will be the 9th year of the 15-year assessment.
The preliminary FY 2024-2025 budget for all funds totals $147.88 million, up $10.19 million, or 7.4% from FY 2024, and focuses on continuing all of Wellington’s services while addressing significant cost increases, continuing our high level of facility and infrastructure maintenance, retaining talent, expanding athletic programs and senior services, providing fiscal assistance for schools and homeowners, and revitalizing the community.
• The budget for all Governmental Funds totals $99.59 million, an increase of $315,000 million or .3%;
o Operating and Fixed Asset expenditures rise $2.45 million or 3.5% due to higher cost of facility and road maintenance, athletic programming, and personnel.
o Reduced Capital Project expenditures by $3.58 million
o Increased governmental transfers by $1.36 million for road maintenance, capital projects and ACME R&R Capital.
• The budget for the Enterprise Funds totals $48.30 million, up $9.87 million, or 25.7% from FY 2024;
o Utilities fund is up $9.62 million due to capital
o Solid Waste fund is up $109,000 for contract costs
o The Professional Centre is inactive
o Transfers to the General Fund for indirect costs are up $381,000
• 318 permanent positions, up 4 from the adopted FY 2024 staffing level to add 1 code compliance officer and 3 Building positions. The preliminary budget includes funding for 15 supplemental positions across funds, down 6 from FY 2024 staffing levels.
o Governmental Funds: 254 permanent positions
o Enterprise Funds: 64 permanent positions
State and tax revenue estimates, as well as forecast expenditures will continue to be evaluated and updated throughout the budget process and these numbers are likely to change prior to final adoption.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY:
FISCAL IMPACT: The proposed rates will fund the preliminary FY 2024-2025 budget and capital improvement plan with use of Fund Balances and Reserves in the Acme Fund and Recreation Impact Capital Fund as presented to Council. Final adopted rates may be lower at the time of adoption.
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Approval of the following resolutions setting TRIM rates for ad-valorem taxes and non-ad valorem assessments for Wellington, the Acme Improvement District and Saddle Trail Neighborhood Improvement District debt as required by law:
A. RESOLUTION NO. R2024-27: The ad valorem millage rate proposed at 2.47 mills (no change from the current year rate, and 8.48% above the rollback rate of 2.28 mills.
B. RESOLUTION NO. AC2024-05: Non-ad valorem assessments for the Acme Improvement District proposed at $255.00 for all units except the Palm Beach Polo Units with the proposed assessment rate of $283.00.
C. RESOLUTION NO. R2024-28: Non-ad valorem assessment rates for the Saddle Trail Neighborhood Improvement District for TRIM purposes according to the attached assessment roll.