Budget & Finance

Fiscal Year 2021

The Monroe County Board of County Commissioners met virtually on July 27 to certify the proposed aggregate millage rate of 3.3602, for the $437.3 million Fiscal Year 2021 budget. This budget is 7.5 percent lower than last year’s budget. The budget includes the Board of County Commissioners, the constitutional officers, the Tourist Development Council, capital projects, and reserves.

Monroe County Administrator Roman Gastesi and Budget and Finance Director Tina Boan presented the budget for discussion in relation to COVID-19 with estimates to residential real estate trends, taxable property values, sales taxes and state shared revenues, along with fund balance, reserves, and general fund.

Some of the FY 2021 budget highlights include:

  • Budget $437,274,337, 7.5 percent lower than last year’s budget.
  • Maintains the current year millage rate.
  • Reflects a property value increase of 5.6 percent with a total value exceeding $30 billion, a historic high. For all revenue sources, the estimates were done with projections based on March, April, May, and June 2020 due to the unpredictability from COVID-19.
  • Absorbs impacts of the sudden revenue reductions.
  • Assumes economic sluggishness with a modest recovery.
  • Includes expenditure reductions.

“This is the most uncertain of all budgets we have ever put together, and while we are always conservative on the budget, this has been very difficult especially when it comes to cutting positions,” said Gastesi.

Due to COVID-19 and closing the Florida Keys on March 23, immediate action was taken within the County to identify, analyze, and estimate potential shortages and at-risk revenue sources. The County also immediately instituted a hiring and purchasing freeze and furloughed employees who did not have work due to the county closures. The County also suspended discretionary spending and unnecessary travel and deferred work wherever possible. County staff made cuts to make up for shortfalls, including the elimination of 42 positions, 13 of which are currently filled plus five outside positions that were outsourced. There will also be no cost of living increases or merit raises for staff.

“We will continue to monitor the impacts of COVID-19,” said Boan. “There are still four more months that we need to fill in for the 2020 fiscal year.”

The budget process timeline is (these may be virtual if allowed by the State of Florida):

  • Sept. 3 – First Public Hearing: scheduled for Harvey Government Center in Key West. At this hearing, the BOCC adopts the tentative millage rate and tentative budget.
  • Sept. 8 – Special Budget Meeting: scheduled for Marathon Government Center. This meeting is for BOCC discussion and direction on the budget.
  • Sept. 16 – Final Public Hearing: scheduled for Murray Nelson Government Center in Key Largo. At this meeting, the BOCC adopts the final millage rate and final budget.

County staff will continue to monitor revenues, expenditure savings, Poinciana Gardens Senior Living Center, and building and planning department evaluations throughout the summer. Many capital projects will also be pushed into the next two to five years.

With this budget, a homesteaded residential property with an appraised assessed value of a $380,280 in 2020 (with a 2.3 percent capped increase to property value) would have a $22.64 increase in the property tax for the 2021 year with the proposed budget, which is $1.89 per month. Along the same lines, a non-homesteaded property with a $620,248 value in 2021 would increase to $145.93. Commercial properties with a $1.1 million value would be $264.

The Monroe County Office of Budget and Finance provides coordination and development of Fiscal Year budget. The Fiscal Year 2020 budget was $472.7 million, which included continued Hurricane Irma recovery. The office continues to work on receiving refunds from FEMA from the impacts of Hurricane Irma and now COVID-19, while still providing for the daily operations of the department, program enhancements, and capital projects and improvements.

For more information about the budgeting process, or to see today’s presented slideshow, visit www.monroecounty-fl.gov/budgetandfinance.

COVID-19 UPDATE

In an effort to provide business continuity while maintaining the health and safety of our employees and the community, the Monroe County Purchasing Department is making changes to its process for receiving and opening of sealed bids. These changes will be communicated to plan holders of existing and future bids through DemandStar.

The Budget and Finance Office will not be opened to the public. The department is actively involved in Emergency Management in response to COVID-19 and will continue to serve in that role until further notice.

Fiscal Year 2020

Budget workshop at Harvey Government Center

MONROE COUNTY ADOPTS MILLAGE RATE AND RECOMMENDED FISCAL YEAR 2020 BUDGET

The Monroe County Board of County Commissioners adopted the 2020 budget and millage rate at its final public hearing held on Wednesday, Sept. 18, 2019 at Murray Nelson Government Center in Key Largo. The budget reflects the commissioner’s direction to meet increased service demands and workload, continued Hurricane Irma recovery, infrastructure improvements, and future challenges, like climate change and sea-level rise.

The Countywide certified adopted millage rate by the BOCC for Fiscal Year 2020 is 1.66 percent above the rolled-back millage rate from 2.5459 to 2.5881. Per the BOCC’s authorization, a new taxing district to help fund a new hospital in the Middle Keys encompassing Mile Marker 40 and Mile Marker 65. With the new taxing district, the aggregate millage rate is 3.14 percent above the rolled-back millage rate. Ad Valorem taxes collected overall will be $95.3 million.

The $472,696,406 budget covers the Board of County Commissioners’ operating budget, capital projects, and constitutional officer’s budgets.

Within the budget, a net of an additional 11.5 new Board of County Commissioners positions were approved. Positions include assistants for the Guardian Ad Litem and Social Services, a park director and maintenance worker, a fleet mechanic, fire marshal, and two fire inspectors, four firefighter positions for Monroe County Fire Rescue’s Sugarloaf department, two fleet mechanic/generator technicians, and a safety office administrator. The Board also approved an up to 4 percent raise for County employees, which will include a cost of living increase and possible merit-based raise.

The budget goes into effect Oct. 1, 2019.

Graph of FY2020 Where the Money Goes (Uses)

Vision

The vision of the Budget and Finance Department is to be a fiscally responsible, customer-focused team that is striving for excellence at all times.

We are dedicated to sustainability by managing programs, services, and their related resources as efficiently and effectively as possible and communicating the results of these efforts to the public.

Mission Statement

The mission of the Budget and Finance Department is to provide effective development and implementation of Monroe County’s budget; promote efficient, sound financial management; ensure governmental procurement regulations are followed countywide; facilitate financially responsible grant funding; and maintain the highest standards of ethics, integrity, and prudent expenditure of public funds.