60 50 1 1 57 50 31 72 54 27 69 44 68
93
General Fund
The City’s primary operating fund. It is used to account for all financial resources except those required to be accounted for in another fund. These activities are funded principally by property taxes from individuals and businesses, and charges for services.
General Fund Revenues General Fund revenues for fiscal year 2019 totaled $64.5 million (excluding transfers), a 5.2% increase from fiscal year 2018. REVENUES
2019
2018
Property Taxes Other Taxes Franchise Fees Charges for Services Payment in Lieu of Taxes Intergovernmental Licenses and Permits Fines and Forfeitures Investment Income Other Special Assessments Transfers In
26,388, 6 5 1 8, 581,918 5,398,373 2,758,554 2,015,822 7,278,805 722,362 1,733,748 1,018,584 8,596,847 3,619 0
24,401,960 8,616,250 5,184,4 1 1 2,376,657 1,965,1 50 7, 203,831 783,872 1,863,654 475,727 8,452,569 6 ,14 4 1,503,468
$ 64,497,283
$ 62,833,693
Total
General Fund expenditures are classified by the type of service provided:
Enterprise Funds (Business-type activities) Any activity that charges a fee to users for goods or services to recover the cost of the service provided.
General Government: Services provided for the benefit of the public and the governmental body. Public Safety: Services that provide for the security of persons and property, mainly from the Police and Fire Rescue departments. Physical Environment: Services to achieve a satisfactory living environment. Capital Outlay: Expenditures for the acquisition of fixed assets.
EXPENSES
Economic Environment: Cost
2019
14,398,457 General Government of providing services which Public Safety 19,458,490 develop and improve the economic condition of the Transportation 1,569,157 community and our neighbors. Culture and Recreation 5,040,528 Transportation: Cost of services Physical Environment 4,561,415 for the safe and adequate Economic Environment 584,583 flow of vehicles, travelers and Human Services 357,425 pedestrians. Capital Outlay 635,119 Culture/Recreation: Cost of Transfers providing Out and maintaining 14,913,977
cultural and recreational facilities $ 61,519,151 and activities for the benefit of the community.
Total
The Enterprise Funds include: Utilities Fund, the Stormwater Fund and the Golf Course Fund. An Enterprise Fund is used to 2018 for activities account for13,342,183 which a fee is 18,409,073 charged to external 1,355,600 users for goods and/ 4,616,497 or services. 4,443,033 494,978 315,750 229,523 15,601,234
REVENUES Charges for Services Other Capital Contributions Nonoperating Revenues Transfers In Total EXPENSES Salaries, Wages, Benefits Contractual Services, Materials Depreciation Other Services and Charges Nonoperating Expenses Transfers Out Total
2019
2018
35,031,608 85,742 948,722 1,818,744 517,646
33,965,316 53,565 4,541,003 1,711,538 4,865,748
$ 38,402,462
$ 45,137,170
2019
2018
6,511,544 11,657,586 4,308,291 5,852,861 1,102,780 18,052
6,831,085 11,465,559 4,941,245 5,734,069 1,103,792 17,527
$ 29,451,114
$ 30,093,277
EXPENSES
The debt position of the City is summarized below:
14,398,457 19,458,490 1,569,157 5,040,528 4,561,415 584,583 357,425 635,119 14,913,977
General Government Public Safety Transportation Culture and Recreation Physical Environment Economic Environment Human Services Capital Outlay Transfers Out Total
2018
$
61,519,151
13,342,183 18,409,073 1,355,600 4,616,497 4,443,033 494,978 315,750 229,523 15,601,234 $
58,807,871
To view the City’s full CAFR, visit www.Tamarac.org/CAFR.
2019 Accomplishments & Statistics
General Fund expenditures increased by $3.4 million (excluding transfers) from $43.2 million in fiscal year 2018 to $46.6 million in fiscal year 2019. 2019
This condensed report is part of our ongoing effort to be transparent and to help the community better understand the City’s finances. It summarizes information provided in our Comprehensive Annual Financial Report (CAFR) for the fiscal year ending September 30, 2019.
$ Condensed 58,807,871 Statement of Outstanding Debt (in millions)
At fiscal year-end, the City had $75.5 million in bonds and notes outstanding, a decrease of $4.1 million from fiscal year 2018. All $75.5 million are revenue bonds and notes backed by budget appropriations and fee revenues. In 2019, a Moody’s review upgraded the City’s General Obligation Bond credit rating of Aa2. These ratings reflect a strong financial position, a low debt burden and a moderate pension liability. Additional information about the City’s long-term debt can be found in Note 9 of the CAFR, available at www.Tamarac.org/CAFR.
General Fund Expenditures
City of Tamarac Condensed Annual Financial Report 2019
Revenue bonds and notes
Governmental 2019 2018 $ 50.7 $ 53.9
Business-type 2019 2018 $ 24.8 $ 25.7
7525 N.W. 88th Avenue Tamarac, Florida 33321-2401 (954) 597-3500 | www.Tamarac.org
Total 2019 2018 $ 75.5 $ 79.6
Buildin Building g Pe Perrmit mitss Issued 7, 7,67 678 8
Fire Emer Emergenc gency y Resp Response onsess 12 12,4 ,432 32
Pothole otholess Re Repaired paired 25 250 0
Yout uth h Yo Sports ts Spor Participan ticipants ts Par 1,500+ 500+ 1,
At Athletic hletic Fiel Field d Pe Perrmit mitss Issued 2, 2,96 9677
Recy cyclable clabless Re Collect cted ed Colle (ton ons) s) (t 3,974 4 3,97
New w Wa Wate terr Ne Connections tions Connec 293 3 29
ublicc Publi Transi ansitt Tr Passengers 66,2 ,265 65 66