Fiscal Year 2017 (Oct 1, 2016 - Sept 30, 2017)
MINUTES OF THE BEACON MEADOWS SPECIAL DEPENDENT DISTRICT
PUBLIC BUDGET HEARING
The public budget hearing for the Beacon Meadows Special Dependent District was convened by President Coon at 7:31 p.m. on June 9, 2016 at the Carrollwood Cultural Center, 4537 Lowell Road, Tampa, Florida.
Trustees present: Carol Coon, Michael Fisher, Barbara Appel, Penny Phillips, Anne Blevins, Kathy Boyd
Trustees absent: John O’Neill
President Coon called the hearing to order at 7:31 p.m. and presented two budget proposals: A and B. The difference between the two proposed budgets was the beginning fund balance. Budget A reflected paying T-3 Construction $30,000 in FY16 for Gunn Hwy. wall repairs. Budget B reflected no wall repairs in FY16. It was agreed by Trustees that Budget A should be used, since funds had already been committed at the June 2016 Board meeting for wall repairs by T-3 Construction.
Therefore, President Coon presented Budget A for discussion, comparing estimates for FY16 with projections for FY17.
The proposed budget for FY17 maintains the special assessment rate of $100 per improved parcel. There are 256 single family homes in Beacon Meadows, resulting in projected revenue of $25,600. President Coon commented that the Florida Statutes permit only 95% of total gross revenues to be budgeted. This is because homeowners receive a 5% discount if property taxes are paid by the earliest date specified, but there is no way to know in advance if this will occur or not.
Trustee Appel reminded Trustees that this is the last fiscal year of the contract with the CPA at $900. President Coon budgeted $1,000 in case the new contract is at a higher rate.
President Coon reported that the proposed budgets were posted on the District’s website (www.beaconmeadows.org) on June 6, 2016, in compliance with Chapter 189.418(4) of the Florida Statutes. The approved budget will be posted on the same website. Also, the hearing was advertised in the Tampa Bay Times as required.
Discussion among Trustees resulted in an agreement that the budget projections for FY17 appeared reasonable and that the special assessment rate should be maintained at $100 per improved parcel. However, they further agreed that, in the future, more ad valorem taxes may be needed to operate the District as costs continue to rise. President Coon explained that a referendum to increase ad valorem taxes would be required. She briefly described the referendum process and added that a referendum could not be up for a vote until 2017. If the referendum was passed, funds would not be available until the following fiscal year. Trustee Appel commented that the last referendum to increase ad valorem taxes to a maximum of $100 was in 2006.
Further discussion ensued among Trustees after questions were asked by Trustee Boyd regarding sources of revenue for Beacon Meadows Special Dependent District and by Trustee Fisher regarding the feasibility of changing the basis for calculating the special assessment rate.
Since there was no public present at the hearing, President Coon did not open the hearing for public comment.
The resolution fixing the special assessment rate for the year 2016 was read by President Coon. Trustee Appel made a motion, seconded by Trustee Blevins, to approve the budget, adopt the resolution, and set the special assessment rate at $100. The motion was approved by a unanimous vote of 6-0.
There being no further business, President Coon moved to adjourn the hearing. Trustee Boyd seconded the motion. The motion was approved by a unanimous vote of 6-0. The hearing was adjourned by President Coon 7:55 p.m.
Signed _______________________________ Signed _______________________________
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RESOLUTION FIXING SPECIAL ASSESSMENT FOR THE YEAR 2016
Upon the motion by Trustee Barbara Appel, seconded by Trustee Anne Blevins, the following Resolution was adopted by 6 votes to 0 votes.
WHEREAS, BEACON MEADOWS SPECIAL DEPENDENT DISTRICT is a special dependent district duly established and operating pursuant to Ordinance #87-53, as amended; and,
WHEREAS, Ordinance #87-53, as amended, provided that the Board of Trustees of BEACON MEADOWS SPECIAL DEPENDENT DISTRICT has the right, power, and authority to levy a special assessment against IMPROVED RESIDENTIAL PROPERTY in the district for the purpose of maintaining and improving common property; and,
WHEREAS, the Board of Trustees of BEACON MEADOWS SPECIAL DEPENDENT DISTRICT has determined that the assessment for the year 2016 shall be in the amount of $100.00; and,
WHEREAS, the Board of Trustees of BEACON MEADOWS SPECIAL DEPENDENT DISTRICT has had a duly advertised public hearing on the 9th day of June 2016; and,
WHEREAS, the Board of Trustees of BEACON MEADOWS SPECIAL DEPENDENT DISTRICT has presented the proposed assessment and proposed budget to the residents of BEACON MEADOWS SPECIAL DEPENDENT DISTRICT at the public hearing; and,
WHEREAS, the Board of Trustees of BEACON MEADOWS SPECIAL DEPENDENT DISTRICT has heard discussion and comments from the residents.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF BEACON MEADOWS SPECIAL DEPENDENT DISTRICT THIS 9TH DAY OF JUNE 2016;
That the above recitation of findings of fact is hereby incorporated into this Resolution.
The Board of Trustees of BEACON MEADOWS SPECIAL DEPENDENT DISTRICT approves the proposed budget for FY 17.
The Board of Trustees of BEACON MEADOWS SPECIAL DEPENDENT DISTRICT approves the proposed assessment of $100.00 for 2016.
Upon adoption, this Resolution shall be transmitted by the Trustees, along with the approved budget and all other materials required by Hillsborough County, to the Board of County Commissioners for their approval.
Penny Phillips, Secretary