Financial Advisory Board

FINANCIAL ADVISORY BOARD MEETING MINUTES TUESDAY, JULY 14, 2026 | 6:30 P.M. MEETING ID: 844 2624 3280 1. Call to Order / Roll Call: a. Call to Order: Lars Schott, Chair, called the meeting to order at 6:35 p.m. b. Roll Call: i. Board Members Present: 1. Elizabeth Avalo, Vice Chair 2. Sidharth Mehta, Board Member 3. Billy Prendergast, Board Member 4. Lars Schott, Chair 5. Marco Zuniga, Board Member ii. Board Members Absent: None iii. Village Staff Present: 1. Commissioner Richard Chervony 2. Frank Rollason, Village Manager 3. Sandra Siefken, Village CFO iv. Others: 1. NBV IT Dept. 2. Approval of Last Meeting Minutes: a. Tuesday – June 9, 2026: b. Lars Schott, Chair, made a motion to approve the meeting minutes. It was seconded by Elizabeth Avalo, Board Member. Upon roll call vote, the motion passed 5 - 0. 3. New CFO Introduction: The meeting began with introductions, including welcoming Sandra Siefken back as the new CFO of North Bay Village. 4. Community Center Opening Preparation The community center project is complete but not yet officially open to the public. The facility hosted a four-day event including a Padel tournament and various activities to test operations. The center is currently in the process of hiring staff and obtaining necessary certifications, with plans to open by mid-August pending fire department approval and

permanent certificate of occupancy. A book bag giveaway event is scheduled for July 22nd from 5-8 PM at the community center. 5. Village Hall Project Planning Meeting The commission discussed the Village Hall Project, with bids from five finalists expected to be reviewed at a meeting on August 4th. Bill has agreed to replace Lars on the bid review committee. The project is set to break ground before the end of August to secure $7.5 million in fire department funding. Frank reported that the main pending issue involves removing cars from a parking lot and obtaining permits for converting a tennis court to parking space, with cars required to be removed by August 31st. The project is approximately $10 million short of funding, but potential TDR sales and height bonuses from two development projects could provide the needed funds. 6. Village Hall Project Budget Updates The meeting covered updates on the Village Hall project and budget discussions. Frank reported that over $30 million has been placed in a restricted account for the Village Hall project, exceeding the breaking ground stage requirements, and that the county needs to provide authorization documents before contracts can be entered into. The commission discussed budget considerations, including a rollback rate change from 5.7062 to 5.325 millage rate due to property tax adjustments, with Frank noting that a millage rate of 5.9 would be needed to cover all requested funds and utilities. The final budget presentation was postponed to the 28th to incorporate utility funding adjustments being worked on by Sandra. 7. Property Tax Millage Rate Discussion The commission discussed the need to increase the property tax millage rate due to a significant loss in ad valorem taxes, with Sandra explaining that the current budget requires a millage rate increase to around 7.0, though it will likely be reduced to approximately 6.3 after further budget adjustments. Sandra clarified that a new law requiring a rollback rate will make it more difficult to adopt a lower millage rate, potentially resulting in million- dollar losses and requiring additional staff cuts. The commission also discussed their planned opposition to a November ballot question regarding a $150,000 allocation, with the mayor seeking agreement from board members to campaign against it through word of mouth due to restrictions on official opposition. 8. Budget and COLA Discussion The Commission discussed the next budget workshop scheduled for the 28th, where they will review revised budgets and millage amounts. Richard explained his proposal for a 3% COLA (Cost Of Living Adjustment) across all employee salaries, which would cost approximately $294,000 and impact millage rates, while also reducing funding for four seasonal programs from $9,000 to $4,500 per program. The discussion addressed concerns about the impact of new developments on the homestead tax ratio, with Richard explaining that while short-term effects may be challenging, the long-term outlook is positive due to incoming residents and new high-rise buildings, though infrastructure improvements will be necessary to support the growing population. 9. Village Infrastructure Planning Meeting

The meeting focused on infrastructure planning for new building developments in the village. Frank explained that an engineering firm called Arduro is conducting a comprehensive evaluation of water and sewer infrastructure to avoid multiple construction phases. The commission discussed development fees and community contribution charges, with Commissioner Schiavone noting that excessive fees could deter developers. The group also addressed construction scheduling improvements that allow extended hours and weekend work to accelerate building projects. The conversation ended with plans to hold the next board meeting in September at the community center, with August designated as a recess period, and an agreement to invite David Dobler to present his three-tiered recycling program proposal at the next meeting. 5. Staff / Commission Liaison Updates: NONE 6. Public Comments: NONE 7. Discussion of Agenda Items for Next Meeting: Tuesday, September 8, 2026. a. Discussion on a Three-Tiered Recycling Program - Guest Speaker David Doebler invited to present. b. Status Update on the Village's Community Center Project c. Status Update on the Village Hall Project d. Discussion on the State's and Village’s Proposal for Property Tax 8. Adjournment: a. Motion to Adjourn: i. Introduced by: Lars Schott, Chair ii. Vote: Motion passed 5 to 0 b. Adjourned: Meeting adjourned at 8:04 p.m. Submitted by: Board Member Billy Prendergast

1. Opening Items A. Call to Order B. Roll Call 2. Approval of Meeting Minutes 2.A. Approval of the June 9, 2026 Meeting Minutes 06.09.2026 Draft Minutes.pdf 3. Old Business 3.A. Status Update on the Village's Community Center Project 3.B. Status Update on the Village Hall Project 3.C. Discussion of the Village Proposed Budget for FY 2026–2027 Budget Presentation-06-25-2026.pdf 4. New Business 4.A. Discussion on a Three-Tiered Recycling Program - Guest Speaker David Doebler 4.B. Discussion on the State's Proposal for Property Tax 5. Staff / Commission Liaison Updates 6. Public Comments NORTH BAY VILLAGE OFFICIAL AGENDA FINANCIAL ADVISORY BOARD VIRTUAL MEETING ZOOM MEETING ID: 844 2624 3280 TUESDAY, JULY 14, 2026 at 6:30 PM 1

7. Agenda Items for Next Meeting: August 14 or Summer Recess 8. Adjournment THIS MEETING IS OPEN TO THE PUBLIC. IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT OF 1990, ALL PERSONS THAT ARE DISABLED; WHO NEED SPECIAL ACCOMMODATIONS TO PARTICIPATE IN THIS MEETING BECAUSE OF THAT DISABILITY SHOULD CONTACT THE OFFICE OF THE VILLAGE CLERK AT 305-756-7171 EXT. 45 NO LATER THAN FOUR DAYS PRIOR TO SUCH PROCEEDING. IN ACCORDANCE WITH THE PROVISIONS OF SECTION 286.0105, FLORIDA STATUTES, ANYONE WISHING TO APPEAL ANY DECISION MADE BY VILLAGE COMMISSION, WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING OR HEARING, WILL NEED A RECORD OF THE PROCEEDINGS AND FOR SUCH PURPOSE, MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE WHICH RECORD SHALL INCLUDE THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. AGENDA ITEMS MAY BE VIEWED AT THE OFFICE OF THE VILLAGE CLERK, NORTH BAY VILLAGE, 1666 KENNEDY CAUSEWAY. ANYONE WISHING TO OBTAIN A COPY OF ANY AGENDA ITEM SHOULD CONTACT THE VILLAGE CLERK AT 305-756-7171 EXT 45. A COMPLETE AGENDA PACKET IS ALSO AVAILABLE ON THE VILLAGE WEBSITE AT www.nbvillage.com. TO REQUEST THIS MATERIAL IN ACCESSIBLE FORMAT, SIGN LANGUAGE INTERPRETERS, INFORMATION ON ACCESS FOR PERSON WITH DISABILITIES, AND/OR ANY ACCOMMODATION TO REVIEW ANY DOCUMENT OR PARTICIPATE IN ANY VILLAGE-SPONSORED PROCEEDING, PLEASE CONTACT (305) 756-7171 FIVE DAYS IN ADVANCE TO INITIATE YOUR REQUEST. TTY USERS MAY ALSO CALL 711 (FLORIDA RELAY SERVICE). 2

1. Opening Items A. Call to Order B. Roll Call 2. Approval of Meeting Minutes 2.A. Approval of the June 9, 2026 Meeting Minutes 06.09.2026 Draft Minutes.pdf 3. Old Business 3.A. Status Update on the Village's Community Center Project 3.B. Status Update on the Village Hall Project 3.C. Discussion of the Village Proposed Budget for FY 2026–2027 Budget Presentation-06-25-2026.pdf 4. New Business 4.A. Discussion on a Three-Tiered Recycling Program - Guest Speaker David Doebler 4.B. Discussion on the State's Proposal for Property Tax 5. Staff / Commission Liaison Updates 6. Public Comments NORTH BAY VILLAGE OFFICIAL AGENDA FINANCIAL ADVISORY BOARD VIRTUAL MEETING ZOOM MEETING ID: 844 2624 3280 TUESDAY, JULY 14, 2026 at 6:30 PM 1

7. Agenda Items for Next Meeting: August 14 or Summer Recess 8. Adjournment THIS MEETING IS OPEN TO THE PUBLIC. IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT OF 1990, ALL PERSONS THAT ARE DISABLED; WHO NEED SPECIAL ACCOMMODATIONS TO PARTICIPATE IN THIS MEETING BECAUSE OF THAT DISABILITY SHOULD CONTACT THE OFFICE OF THE VILLAGE CLERK AT 305-756-7171 EXT. 45 NO LATER THAN FOUR DAYS PRIOR TO SUCH PROCEEDING. IN ACCORDANCE WITH THE PROVISIONS OF SECTION 286.0105, FLORIDA STATUTES, ANYONE WISHING TO APPEAL ANY DECISION MADE BY VILLAGE COMMISSION, WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING OR HEARING, WILL NEED A RECORD OF THE PROCEEDINGS AND FOR SUCH PURPOSE, MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE WHICH RECORD SHALL INCLUDE THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. AGENDA ITEMS MAY BE VIEWED AT THE OFFICE OF THE VILLAGE CLERK, NORTH BAY VILLAGE, 1666 KENNEDY CAUSEWAY. ANYONE WISHING TO OBTAIN A COPY OF ANY AGENDA ITEM SHOULD CONTACT THE VILLAGE CLERK AT 305-756-7171 EXT 45. A COMPLETE AGENDA PACKET IS ALSO AVAILABLE ON THE VILLAGE WEBSITE AT www.nbvillage.com. TO REQUEST THIS MATERIAL IN ACCESSIBLE FORMAT, SIGN LANGUAGE INTERPRETERS, INFORMATION ON ACCESS FOR PERSON WITH DISABILITIES, AND/OR ANY ACCOMMODATION TO REVIEW ANY DOCUMENT OR PARTICIPATE IN ANY VILLAGE-SPONSORED PROCEEDING, PLEASE CONTACT (305) 756-7171 FIVE DAYS IN ADVANCE TO INITIATE YOUR REQUEST. TTY USERS MAY ALSO CALL 711 (FLORIDA RELAY SERVICE). 2

3 4 FINANCIAL ADVISORY BOARD MEETING MINUTES TUESDAY, June 9, 2026| 6:30 P.M. MEETING ID: 844 2624 3280 1. Call to Order / Roll Call: a. Call to Order: Lars Schott, Chair, called the meeting to order at 6:35 p.m. b. Roll Call: i. Board Members Present: 1. Elizabeth Avalo, Vice Chair 2. Sidharth Mehta, Board Member 3. William ‘Billy’ Prendergast, Board Member 4. Lars Schott, Chair 5. Marco Zuniga, Board Member ii. Board Members Absent: None iii. Village Staff Present: 1. Commissioner Richard Chervony 2. Frank Rollason, Village Manager iv. Others: 1. NBV IT Dept. 2. Approval of Last Meeting Minutes: a. Tuesday – May 12, 2026: b. Billy Prendergast, Board Member confirmed as Secretary. c. Lars Schott, Chair made a motion to approve the meeting minutes. It was seconded by Sidharth Mehta, Board Member. Upon roll call vote, the motion passed 5 - 0. 3. Old Business: a. Update on the Village's Community Center / Treasure Island Elementary School Project: 3

4 4 The meeting focused on the status update of the Village Community Center project. Richard reported on the recent ribbon-cutting ceremony held despite rain, which included tours of the facility and speeches from various stakeholders. He explained the planned uses for different floors, including youth programs on the second floor, activities for teenagers and adults on the third floor, and potential future events like a visit from the Argentine soccer team. The project is nearing completion, with roadways being opened and artificial turf being installed on some fields, though a final certificate of occupancy is still pending. The group discussed the completion of a new FIFA-approved soccer field, which is considered the village's crown jewel. Frank explained concerns about the field's bright lighting affecting nearby residents, particularly on the west side, and mentioned that the lights were on unexpectedly late one Saturday night. The discussion covered the scheduling and usage of various sports facilities, including the main field, small fields managed by PFL, and the upcoming Anson Family Park development, which will include portable lighting and restrooms for night use. 4. New Business: a. Property Tax Ballot Discussion: The commission discussed the upcoming property tax ballot measure and its potential impact on the city's budget. They noted that while new developments like Continuum and Shoma could provide future tax revenue, predictions are uncertain due to unknown factors such as buyer profiles and property tax laws. The commission decided to remain silent on the property tax issue until after the governor signs this year's budget to avoid antagonizing state officials. They highlighted approximately $1 million in current budget allocations, including $750,000 for City Hall and $150,000-200,000 for Harbor Island drainage. b. Village Infrastructure Funding: The discussion focused on infrastructure challenges in the village and potential solutions for funding development projects. Frank highlighted concerns about deteriorating water and sewer systems that require significant maintenance and upgrades, particularly as new large buildings come online. Bill suggested creating a development fund where developers would pay a percentage of their construction costs to support infrastructure improvements, which Frank acknowledged as a potential approach. The Commission members noted they have been collecting community development funds successfully for previous projects like City Hall and the community center, though they haven't formally established a dedicated development fund. c. Budget and Community Center Planning: The meeting focused on the upcoming budget discussions and community center project. The Commissioner explained that the first budget workshop will be held on June 25th, with a second workshop on July 23rd, and discussed the need to 4

5 4 potentially increase property taxes due to rising debt service costs and new expenses for the community center. Frank and the Commissioner noted that running the community center would cost approximately $1 million annually, and they are considering implementing fees for certain programs while keeping many activities free. The group also discussed updates on Village Hall construction, with bids due by June 24th and a potential selection by July 28th, and they agreed to invite David Dobler to present a proposed three-tiered recycling program at the next meeting. 5. Staff / Commission Liaison Updates: NONE 6. Public Comments: NONE 7. Discussion of Agenda Items for Next Meeting: Tuesday, July 14, 2026. a. Three-tiered recycling program discussion with invited guest David Dobler. b. 2027 budget update and discussion. c. Proposed tax changes. d. Update on the Village's Community Center / Treasure Island Elementary School Project. e. Village Hall update. f. Any other items will be submitted to the Clerk via email. 8. Adjournment: a. Motion to Adjourn: i. Introduced by: Lars Schott, Chair ii. Vote: Motion passed 5 to 0 b. Adjourned: Meeting adjourned at 8:11 p.m. Drafted by: Board Member Bill Prendergast 5

Budget Workshop FY 2026-27 1 6

Village Commission Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $42,984 $17,359 ($25,624) • Savings in telephone services due to costs being transferred to the IT Department • Eliminate Travel, Conferences and Meeting expenditures for Commissioners, except Mayor 2 7

Village Manager Dept. Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $101,850 $102,935 $1,085 • Eliminate cell phone stipend for Village Manager • Reduction in Travel Conferences and Meetings, expense • Eliminate dues, subscriptions & memberships expense • Reduction in gas and oil budget for the Village Manager • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% (Deputy Village Manager/HR Dir) • Projected mandatory increase in workers compensation, 10% 3 8

Human Resources Dept. Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $134,954 $136,837 $1,883 • Eliminate miscellaneous employee events (birthday celebrations, retirements, flower baskets) • Eliminate uniforms • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% 4 9

Village Clerk Dept. Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $189,103 $257,513 $68,410 • Add a Records Clerk position • Increase professional service expense by adding document scanning • Increase postage • Increase special advertising and advertising software • Increase election expense • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% 5 10

Finance Dept. Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $413,870 $548,061 $134,191 • Reinstatement of Controller position • Increase in professional development for Finance Team • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% 6 11

Legal Dept. Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $304,503 $313,031 $8,528 • Slight increase in annual contract fee 7 12

Information Technology Dept. Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $337,387 $366,895 $29,508 • Addition of IT Technician position • Eliminate CIS Police Dispatch Software • Eliminate Smarsh-archive text • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% 8 13

General Government Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $1,441,862 Operating $199,309 Sakura Debt $1,641,171 $1,825,830 Operating $194,982 Sakura Debt $2,020,812 $383,968 Operating ($4,327) Sakura Debt $379,641 • Added off-duty expense for police officers • Eliminate snacks and drinks for public meetings • Increase in liability, automobile, general, property and w/c insurance • Eliminate Equipment rental (mailing equipment) • Merchant fees increase • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% • Reduction in the duration of administrative leave for Police personnel through February 11, 2027 9 14

Police Department Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $8,447,167 $8,330,058 ($117,109) • Transferred off-duty expense to general government • Police Officer position unfunded for FY 2027 • F/T Marine Patrol position unfunded for FY 2027 • Promotion and status correction for Public Safety Communications Supervisor to Manager • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% • Increase vehicle leases / oil / gas / maintenance • Increase in equipment / uniforms • Eliminate education / training from general fund • Increase budget for re-accreditation 10 15

Code Compliance Dept. Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $216,268 $228,355 $12,087 • Eliminate uniform expense • Increase in gas and oil expense • Eliminate machinery and equipment (axon cameras)-Funded from Police Department • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% 11 16

Community Engagement-Consolidated P&R and Communications Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $428,673 $1,098,328 $669,655 • The Parks and Recreation Department was consolidated with Communications to form the new Community Engagement Department. All expenses previously budgeted under Communications have been fully transferred to the new department. • Personnel needs for new Department • Continuation of YMCA contract • Eliminate all community events (Halloween, Winter Holiday, Spring Fling and 4th of July) 12 17

Building Dept. (no impact to general fund) Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $2,349,996 $3,814,935 $1,464,939 • Increase in contractual services (CAP) • Increase in EPL Software – mandatory updates • Reduction in professional services – microfilming building permits • Eliminate contractual services-blue beam studio software for plan reviews • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% 13 18

Street Maintenance Department Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $1,970,824 $1,113,232 ($857,592) • Transfer Capital Projects for Streets, Road and Landscape Improvements to Capital Fund • Reduction in repairs and maintenance of grounds, trash receptacles • Eliminate cost allocation, there’s already a transfer from general fund • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% 14 19

Transportation Fund (CITT) Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $1,658,035 $697,307 ($960,728) • Eliminate transfer to capital projects fund • Eliminate transfer to general fund • Reduction in roads and streets improvements 15 20

Enterprise Funds Utilities Administration Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $5,754,277 $5,502,233 ($252,045) • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% • Reduction in overtime • Transferred contract services expenditure for Holiday Lighting to Street Maintenance • Reduction in sampling and testing permitting 16 21

Enterprise Funds Water Operations Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $2,226,753 $2,639,541 $412,789 • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% • Eliminate repairs and maintenance to buildings • Reduction in engineering and planning • Reduction in gas and oil • Increase in repairs and maintenance of water lines 17 22

Enterprise Funds Sewer Operations Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $2,465,245 $3,085,632 $620,387 • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% • Increase in overtime • Eliminate repairs and maintenance to buildings • Increase improvements other than buildings • Eliminate contingency • Increase sewage disposal fee (mandatory) • Increase sewer lines emergency repairs • Reduction in electric, gas and water expense 18 23

Enterprise Funds Sanitation Operations Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $1,960,697 $1,755,063 ($205,634) • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% • Increase in overtime • Increase in recycling fees • Increase in vehicle lease for a garbage truck • Increase in temporary personnel • Reduction in repairs and maintenance of vehicles • Eliminate machinery and equipment 19 24

Enterprise Funds Stormwater Fund Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $317,539 $467,626 $150,087 • Projected mandatory increase in FRS retirement benefit contributions,3.85% • Projected mandatory increase in Health benefit contributions,15% • Projected mandatory increase in workers compensation, 10% • Increase in overtime • Reduction in repairs and maintenance of equipment • Add gas and oil 20 25

Debt Service Fund-GOB Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $2,704,551 $3,929,146 $1,224,595 • Increase Debt and Interest for Stormwater Bond 2023 • Increase debt millage rate from 1.666 mills to 2.7767 mills 21 26

Debt Service Fund-Roadway Capital Improvement Fund (CITT) Department Expenditures FY 25-26 Budget FY 26-27 Budget Increase / (Decrease) $112,576 $111,356 ($1,200) • Slight decrease in interest for GOB series $1.5 (Funded from CITT) 22 27

Millage Rate Calculation 2025 Taxable Value $ 1,824,258,723 2026 Taxable Value $ 1,890,000,000 FY 2026 Millage Rate 5.7062 FY 2027 Proposed Millage Rate 5.7062 Ad Valorem Revenue 95% @ 5.7062 $ 10,245,482 Mills Difference Ad Valorem Budget Reduction / Increase Current Year Estimated Rolled-Back rate (Subject to Property Appraiser certification) 5.5077Mills -0.1985 $ 9,889,106 $ - Per capita Florida personal income factor 1.0399 Maximum millage rate requiring a majority (3 out of 5 Commissioners) 5.7275Mills 0.0213 $10,283,681 $ 394,575 Maximum millage rate requiring a two-thirds vote (4 out of 5 Commissioners) 6.3002Mills 0.5940 $11,312,049 $ 1,422,943 Proposed millage rate based on proposed budget (3 out of 5 Commissioners) 5.7062Mills - $10,245,482 $ 356,376 • Current Proposed Millage Rate of 5.7062 requires 3 out of 5 votes. • Reducing the millage rate to the estimated rolled-back rate of 5.5077 mills would decrease ad valorem revenues by approximately $356,376. • Increasing the millage rate above 5.7275 mills would require approval by a two-thirds vote (4 of 5 Commissioners). • Increasing the millage rate above 6.3002 mills would require a unanimous approval (5 of 5 Commissioners). 23 28

Additional Community Funding Options Description Cost Impact Millage Impact Tax impact on $300,000 Home 1. Halloween $9,000 0.005 mills $1.50/year 2. Winter Holiday $9,000 0.005 mills $1.50/year 3. Spring Fling $9,000 0.005 mills $1.50/year 4. Fourth of July $9,000 0.005 mills $1.50/year 5. Circulator $150,000 0.0835 mills $25.05/year 24 29

Additional Personnel Funding Options Description Cost Impact Millage Impact Impact on $300,000 Home 1. Cost to provide 3% COLA to all employees $294,954 0.1643 mills $49.29/year 2. Cost to restore police patrol officers to 2184 hours $95,761 0.0533 mills $15.99/year 3. Cost to place all police officers on new pay scale $285,545 0.1590 mills $47.7/year 4. Cost to combine #2 and #3 above $381,306 0.2123 mills $63.69/year 5. Cost to increase health coverage for Directors $48,419 0.0270 mills $8.10/year 25 30

Additional Commission Funding Options Description Cost Impact Millage Impact Impact on $300,000 Home 1. Travel, Conferences and Meetings for Vice Mayor and one Commissioner $8,000 0.0045 mills $1.35/year 2. Commission Sponsored Special Events for Vice Mayor and one Commissioner $6,000 0.0033 mills $0.99/year 26 31

THANK YOU!!!! 27 32