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HomeMy Public PortalAbout18-9529 Authorizing the City Manger to Present the Five Year Financial Recovery Plant the City Commission and Emergency Board Sponsored by: City Manager RESOLUTION NO. 18-9529 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF OPA-LOCKA, FLORIDA, AUTHORIZING THE CITY MANAGER TO PRESENT THE FIVE YEAR FINANCIAL RECOVERY PLAN TO THE CITY COMMISSION AND FINANCIAL EMERGENCY BOARD PURSUANT TO THE STATE AND LOCAL AGREEMENT OF COOPERATION BETWEEN THE GOVERNOR AND THE CITY OF OPA-LOCKA; PROVIDING FOR INCORPORATION OF RECITALS; PROVIDING FOR AN EFFECTIVE DATE WHEREAS, the State and Local Agreement of Cooperation Between the Governor and the City of Opa-locka ("City") requires the City to develop a Five Year Financial Recovery Plan for the fiscal years 2016-2017 through 2020-2021; and WHEREAS, the City Manager seeks authorization to present the Five Year Financial Recovery Plan to the City Commission and the Financial Emergency Board; and WHEREAS, the City Commission finds that it is the best interest of the City to authorize the City Manager to make his presentation at this time. NOW THEREFORE, BE IT RESOLVED THAT THE CITY COMMISSION OF THE CITY OF OPA-LOCKA, FLORIDA: Section 1. RECITALS ADOPTED. The recitals to the preamble herein are incorporated by reference. Section 2. AUTHORIZATION The City Commission hereby authorizes the City Manager to present the Five Year Financial Recovery Plan to the City Commission and the Financial Emergency Board. ECTION 3. SCRIVENER'S ERRORS. Sections of this Resolution may be renumbered or re-lettered and corrections of typographical errors which do not affect the intent may be authorized by the City Manager, or the City Manager's designee, without need of public hearing, by filing a corrected copy of same with the City Clerk. Section 3. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption and is subject to the approval of the Governor or his designee. PASSED AND ADOPTED this 1st day of August, 2018. Resolution No. 18-9529 Ste 4yra L." aylor Mayor Attest to: Approved as to form and legal sufficiency: Joa na Flores The Brown Law Group, LLC City Clerk City Attorney Moved by: COMMISSIONER HOLMES Seconded by: COMMISSIONER RILEY Commissioner Vote: 4-0 Commissioner Holmes: YES Commissioner Riley: YES Commissioner Pigatt: YES Vice Mayor Kelley: YES Mayor Taylor: NOT PRESENT FINANCIAL RECOVERY PLAN TABLE OF CONTENTS I. Introduction II. How did we get here? III. Three Public Utilities a. Wastewater b. Storm water c. Drinking water IV. Financial a. Major sources of revenue i. Ad valorem taxes ii. Utility Billing/Water&Sewer iii. Storm Water iv. Solid Waste v. Intergovernmental Funds vi. Town Center One b. Debt i. Non-performing ii. Performing c. Major Capital Projects V. Proposed Changes a. Plan to return to fiscal normalcy b. Reporting c. Monthly financials VI. Financials VII. Addendum 1 INTRODUCTION Years of economic decline culminated in the Opa-Locka City Commission requesting that the Governor declare a financial emergency and assist in providing much needed technical and financial resources in order to avert the City's collapse. In response to the City's request,on June 8,2016, a State and Local Agreement of Cooperation between the Governor and the City of Opa-Locka was signed by Governor Rick Scott and Mayor Myra Taylor in accordance with Executive Order number 2016-135. This Agreement states that the City of Opa-Locka shall approve and submit, in writing,to the Governor,a Financial Recovery Plan ("FRP")for fiscal years 2016-2017 through 2020—2021. In order to facilitate the State's efforts to assist in the City's journey towards stabilization,the Governor also assigned a Financial Emergency Recovery Board. In addition to the FRP,the City must engage in the timely submission of annual budgets,with periodic updates. The FRP shall show balanced, recurring revenues and recurring expenditures, as well as estimated reserves for each of the five years projected. The FRP shall satisfy the requirements of section 218.503 (3) (h), Florida Statues, including, but not limited to, providing for payment in full of all financial obligations currently due, or which will come due. The underlying assumptions for all revenues and expenditure estimates contained in the FRP shall be documented and included within FRP. The FRP document shall contain the level of detail necessary and expected expenditures. The FRP document shall be prepared using the following guidelines: 1. Revenues& Expenditures—Current conditions, anticipated events and historical trends shall be incorporated into their computation. 2. Fund Deficits - A timeline for their elimination will be created. 3. Provisions shall be created in order to avoid the recurrence of financial emergency conditions, including the establishment of adequate cash reserves and fund reserves to cover unfunded liabilities. 4. Credit worthiness—One of the FRP's core objectives is to enhance the City's ability to access the capital markets for short and long-term funds. 5. Reporting requirements—Transparency shall be enhanced via the implementation of and adherence to reporting requirements. Namely the routine generation and distribution of financial and operational reports. 6. Managerial and operational efficiencies and accountability shall be improved, as well as transparency enhanced, in part through regimented reporting requirements. 7. Organizational structure—This area will be explored and amended,where appropriate, in order to attain/enhance efficiencies. 2 8. City programs and services which the City cannot afford shall be modified and/or eliminated. 9. Working Capital—It is imperative that a fund with balances sufficient to provide the City with the option of pursuing intergovernmental revenue sources be created. 10. Receivables-Efforts to collect monies owed to the City shall be improved. 11. City employee compensation and benefits, union contracts and negotiating practices employed by the City shall be reviewed and modified,as appropriate. 12. Capital improvements-A plan for the City shall be developed, implemented and updated annually. 13. The City shall participate in the operational review of its police and emergency services and shall implement those changes required for the improvement of public safety. 3 HOW DID WE GET HERE? In the corporate world, boards routinely view external audits as critical safeguards and an important means of ensuring that the operation remains viable. Governmental agencies should be no different. In fact,there are instances where external auditors have been fired for not having highlighted shortcomings. Well,the City of Opa-Locka's auditors seemed to have done their job, as evidenced in the FY 2012 CAFR which reflects the City as having been advised of"Material Weaknesses,"the most egregious of audit findings, as well as"Significant Deficiencies." The areas regarding which concerns were voiced included: 1. Utility Billing and Receivables - MATERIAL WEAKNESS(page 69) - "Customer accounts are not being properly maintained and reconciled in a timely manner..." 2. Interim Reporting - MATERIAL WEAKNESS(page 70) - "A complete set of financial reports are not being provided to management on an interim basis." 3. Account Reconciliations—SIGNIFICANT DEFICIENCY(page 72) - "Financial statement accounts are not being reconciled in a timely manner." Unfortunately,the City did not heed the advice of its external auditors. In that,the FY 2013 CAFR findings were more serious,with the auditors again identifying "material weaknesses"as well as "significant deficiencies." Additionally,a "deteriorating financial condition" was cited and the development of a five(5)year plan to effect stabilization was recommended. The report further stated that 'If financial conditions continue to deteriorate, the City may require state assistance which would then be deemed a financial emergency pursuant to Section 218.503(1), Florida Statutes." This is what served as the prelude to the earlier referenced June 8, 2016 State/City signing, an action which was the culmination of years of unfortunate practices within the City. The theme continued into FY 2014,as the auditors reported in that year's CAFR that recommendations pertaining to Budgets and Deteriorating Financial Condition were "not implemented" (page 86). While the auditors had other comments,the most concerning was: "If financial conditions continue to deteriorate, the City may require state assistance which would then be deemed a financial emergency pursuant to Section 218.503(1), Florida Statutes,"(page 88)an unfortunate, but apropos reiteration of a FY 2013 CAFR pronouncement. A review of the City's past performance reveals an absence of the application of customary accounting and budgeting principles as well as a less than stringent approach to the implementation of administrative oversight. Simply put,the City has engaged in the practice of repeated overspending and the closing of budgetary gaps via the use of monies transferred out of enterprise funds. Years of neglect have now translated into a deteriorated infrastructure,which costs the City on a recurring basis, as the water distribution and sewer collection systems presently suffer from serious leakage and intrusion/infiltration which have resulted in estimates which have the City paying more 4 than double what it should for wastewater treatment. Meanwhile,a significant portion of the drinking water bought from the County leaks out with more money being wasted. Things got progressively dismal in spite of the auditors'warnings and forecasts. In that, FY 2015 started off with $4M in excess cash and the customary debt obligations remaining current. Meanwhile,the City continued the practice of not adhering to its budget,overspending particularly in the areas of Police, Public Works, non-departmental expenditures and the People's Transportation Tax Fund. A reflection on the City's financial performance during the fiscal years 2015 and 2016 provides further insight into activities which contributed to its fiscal decline. Namely,during FY 2015,transfers exceeding $3.2M were moved from Water&Sewer(a revenue fund with restrictions on its use),to the General Fund. Evidently,these monies served to facilitate capital projects which no longer benefitted from state and county support; said funds were also used to assist in accommodating departmental budget overruns,actions seemingly representative of the manner in which the year played out. With the onset of FY 2016,there was$0.85M in cash available to start the year. However,the habits of the previous fiscal year seemingly continued,with revenues falling$3.OM short of budget and expenditures exceeding budget by$1.5M. Whereas,the Water and Sewer fund was tapped for the previous year's shortfall,this year customer utility deposits took its turn in filling the gap. FY 2016 also saw the City embark upon significant non-recurring expenditures,as the rehabilitation of its Historic City Hall commenced, plus it acquired the presently occupied City Hall building via 2015AB Bond financing. Meanwhile,extensive infrastructure construction continued by dipping into the City's State Revolving Loan Fund. As deficits ballooned,the City, now in the precarious position of having to juggle the additional expenditures of significant large scale construction projects utilized the State's Red Light Camera funds,as well as ceased making Water&Sewer payments to Miami-Dade County. The above described items were further compounded by employee turnover,as there was an exodus of key personnel,with several departments being impaired in their ability to provide services and collect revenues. In particular,the City saw the collapse of its Utility Billing Department,with staff falling from eight(8)full time employees to two(2)within a matter of months. Consequently,the largest revenue source was hampered in its billing efforts,falling behind and is yet to attain current status. Worse yet, the accuracy of that billing was called into question,which promulgated litigation from a block of the City's customer base. With an undermanned Utility Billing(UB) Department,ongoing litigation with regard to its billing practices and the impairment of its ability to collect on its greatest source of revenues,the City hit a low point. FY 2016 was seemingly impacted significantly by administrative instability. Namely,there were three (3) City Manager changes during the period of August to December 2015. During these months,eight(8) Miami-Dade County invoices went unpaid along with all of the Department Environmental Resources Management(DERM)and canal cleaning invoices. The compounded effect of 1)staffing shortages, 2) key staff turnover, 3) shortcomings in the UB billing efficiencies(the City's largest source of revenues), historic and expensive large scale construction, plus beyond budget expenditures was further intensified by the absence of a constant captain at the helm to steady the ship. These factors created the path towards the intervention of the Governor of the State of Florida,who issued Executive Order#2016-135 and assigned a Financial Emergency Oversight Boars to assist the Commission in carrying out its duties. 5 THREE PUBLIC UTILITIES Providing good service to the residents is a fundamental responsibility of the City and a dependable utility infrastructure is paramount in such efforts. 1. Wastewater In its 2014 study, EAC Consultants, Inc., a professional engineering consulting firm, reported that the City's wastewater collection system flows through 183,000 feet of vitrified clay pipes which were constructed in the 1960s. Meanwhile,the transmission consists of some 42,300 feet of piping which is connected to 19 lift stations. Said report further stated that these pipes have suffered significant damage and with the pipe joints having lost major structural integrity. The effect has been enormous storm water infiltration to the extent that a storm water/wastewater mix of 68/32 has been estimated. "The majority of the wastewater infrastructure is well past its useful life" is how EAC summarized the matter. They went on to further state that"several of the lift stations and pump stations are in different stages of a Miami-Dade County imposed moratorium due to non-compliance with local,county, state and federal requirements..." Those conditions described above only worsen with time. Meanwhile,the aforementioned infiltration significantly increases the City's monthly wastewater bill from the County,to the extent that it is more than doubled, if the infiltration estimate is applied. The costs incurred as a result of infiltration are exceedingly high and incessant, which dictates that this should be immediately addressed to alleviate this financial burden as well as the seemingly pending health concerns. 2. Storm water Industrial areas within the City have routinely suffered from poor drainage which has resulted in the roadways being compromised and the formation of potholes. Clearly,this is not good for business, neither does it assist in elevating property values,which impacts ad valorem taxes to the City's benefit. 3. Potable(Drinking)water The EAC report indicated that more than 100,000 of the City's 471,000 linear feet of pipeline were comprised of asbestos cement pipe (ACP),a technology which has been considered obsolete for decades. Additionally,the piping system was described as having experienced considerable failures and cracks,which resulted in breaks and damaged pipe segments. In the words of EAC: "The majority of the drinking water system is beyond its useful life;" unfortunately,a reiteration of its assessment of the wastewater infrastructure. As a result of an exceedingly long period of negligence,the City presently experiences a high level of water loss which are a drain on its coffers via needlessly high water bills paid to the County. Unfortunately,this has been its reality for years. The impact, however,extends 6 into other areas,as the failing infrastructure also has an effect on flow velocity,fire flow included. FINANCIAL Major sources of revenue 1. Ad valorem taxes The billing and collection of this major source of revenue is handled by the County,which has been consistently reliable over the years. In fact,the implementation of the proposed major capital projects outlined herein should serve to enhance this tax base through elevated property values. On this front,there aren't any actions required of the City. In preparing the financial projections,a millage rate of 10.0 was assumed,as well as a 5.0% annual growth rate in assessed values. 2. Utility Billing/Water&Sewer As earlier outlined,the City has faced challenges in its utility billing efforts,such that it has fallen as much as six(6) behind. There have also been challenges experienced in securing the data necessary to generate bills. The result has not only been a delinquent billing environment, but also the use of estimates when generating bills, as live data has not been readily available. In excess of thirty percent(30%)of the meter readings were being done manually,with more than half of the billings based on estimates,with the estimated amounts being presumably lower than actual. In an effort to remedy the above,the City has come to an agreement with Miami-Dade County which is presently heavily involved with City staff in the process of transitioning certain tasks over to the County. To date, it has been several months since the County has been involved and during this period,the billing process had become more regimented,with monthly collections having more than doubled,from a previous average of$300,000. With this type of activity,the City appears to be en route to a more favorable trend than that of recent years,displayed below: 7 Water& Sewer Enterprise Fund 512,000,000 — $10,000,000 $8,000,000 -- $6,000,000 ■ • S4,000,040 -- ■ - ■ $2,004,004 _ _ ■ ■ $0 FY 2012-13 1 FY 2013-14 FY 2014-15 FY 2015-16 FY 2016-17 •Operating Revers cues! 8,711,654 1 8,271,932 9,119,001 8,457,553 8,710,325 •Operating Expenses 6,279,156 i 9,303,299 10,970,262 8,150,449 8,711,727 The graph above reflects actual payments and receipts. At this point,the County is owed $5.6M,which, based upon the agreement between the parties, should be retired by within,via funds derived from increased utility billing collections. 3. Storm Water Over the years, residents and businesses have only been billed nominal amounts, ranging from $2 to$9, per month,for storm water as a part of their utility bill. Going forward,the game plan is to actually apply the standard formulaic computation and incorporate same into the annual non-ad valorem tax bill,which is collected by the County and has a 98%collection rate. This practice will result in the use of a proven and historically reliable means of collecting funds from the City's businesses and residents. Hereafter,this item should not only show a dramatic increase,as a result of now being billed, but it should also prove to be a reliable source of revenues,adding more than $200K to what has typically been billed and collected over the years. Here,as with Water&Sewer,the modified billing and collection arrangements to be implemented for Storm Water should also translate into strong revenue growth,as well as improved margins. 8 Storm Water Utility Management Fund %mop° $700,000 $600,000 — $500,000 5400,000 $300,000 $200,000 $100,000 — S0 FY 2012-13 I FY 2013-14 FY 2014-15 ; FY 2015-16 FY 2016-17 I•Ch arges for Services 242,628 268,001 472,952 ; 623,483 741,568 •Operating Expenses 299,209 701,959 I 915,456 236,767 1 406,791 The graph above reflects actual payments and receipts. 4. Solid Waste The Solid Waste Management Enterprise Fund is used for commercial and residential solid waste collection services and is presently being provided by the County. Solid Waste Management Fund $1,400,000 $1,200,000 — $1,000,000 5800,000 — $600,000 5400,000 5200,000 — $0 FY 2012-13 FY 2013-14 FY 2014-15 FY 2015-16 1 FY 2016-17 •Charges for Services I 975,544 L137,874 • 1,504,510 1,600,000 •Operating Expenses 1,214,902 I 1,225,943 1,213,511 923,962 1,290,307 The graph above reflects actual payments and receipts. Charges for Services went directly to Miami-Dade in FY 2015-16 in order to offset outstanding debt. 5. Intergovernmental Revenue(CIP Intergovernmental Revenue) 9 Intergovernmental revenue consists of monies obtained from other governments and can include grants, shared taxes,and contingent loans and advances. Unfortunately,the City's financial constraints have resulted in its inability to capitalize on prospective grant opportunities, as it has not been able to amass sufficient funds to participate in the 'spend then get reimbursed'type programs. This potential source of revenues has been conservatively estimated to be approximately$4M, per annum (federal, state and local) and has the ability to play an important role in the City realizing its 5 Year Plan. As such, in order to tap into the opportunities in this arena,the City is presently in conversation with specialists in the area of Intergovernmental Revenues,the intention being to assiduously invest the resources required to develop a robust pipeline. Other Revenue Town Center One The City's financial condition has also been impacted by Town Center One ("City Hall"). Under the terms of the financing agreement,the City is allotted the use of forty percent(40%)of the building and is required to lease the remaining sixty percent(60%) at market rate. When the transaction to purchase City Hall was completed, it was presumed that the lease amounts received from the tenants of the building would be sufficient to cover all of the expenses associated with City Hall. However,as of today, City Hall has less than sixty percent(60%)occupancy of the available tenant space. The result is that it drains the General fund for the financial shortfall. At its highest point,the City paid more than half of the expenses associated with the building,contrary to what was budgeted for FY 2016. Upon attaining full occupancy, however,the revenues generated from rent should be able to cover a substantial amount of the building's expenses, if not all, including those payments dictated by the financial covenants, plus all other associated expenses. Worthy of note, is the fact that there is some uncertainty regarding the amount that City Hall's full occupancy would yield as the market rate contemplated at the time of the purchase,was$17.00/sq.ft.,whereas subsequent rates have been quoted within the vicinity of$14.00/sq.ft. Nevertheless,the City is preparing to enlist the services of a listing agent to help in attaining full occupancy. Use of the Working Capital Fund should be restricted to the payment of 100%reimbursable bills, solely, on matters pertaining to the financing of projects. Red Light Camera The breakdown on revenues generated from Red Light Camera (RLC) issued tickets are distributed amongst the three parties listed below: 1. RLC company 2. State of Florida 3. City of Opa-Locka The chronology of a transaction should be: 1. RLC company receives payment from the party to whom the ticket was issued; 10 2. RLC company keeps their portion of the funds received as payment of each ticket and forwards the balance to the City. 3. The City receives a check from the RLC company,from which it retains its portion and forwards the remainder to the State. Unfortunately,the City has not been adhering to step#3. Instead of remitting the State's portion to Tallahassee,the City formed the habit of using these funds for City purposes to the extent that the balance owed the State is presently$2.9M. The game plan for the retirement of the RLC balance is to retire the debt over a five (5)year period, commencing FY 2019; same has been outlined in the attached projections. The practice of retaining the State's portion comes to an end immediately and the amortization of the outstanding balance commences in the first quarter of the new fiscal year. Vendor/Trade Debt/Deposits The City's record keeping has been such that it is uncertain as to the exact balance owed to vendors. The City, however, still conducts business with the majority of the vendors from which it purchased goods and/or services during its period of more serious challenges. Accordingly,these parties have been making inquiries into past due amounts. In order to resolve this matter, it is the City's intention to notify vendors,via mail and publication,of a window of time within which all claims of delinquencies are to be presented,together with evidence supporting said claim. These will then be evaluated for authenticity and a payment plan enacted. It is the City's objective to pay its current bills within 30 days of invoice date,a practice which will require the streamlining of the approval process and possibly the exploration of P-Card type programs. In addition to the above mentioned vendor/trade debt,the City is also required to replenish the$1.6 million of utility customer deposits which have been depleted. The means by which this shall be accomplished has been outlined in the attached financials,which reflect growth in the deposits, commencing FY 2019,with the targeted$1.6M accomplished within the five (5)year period. Major Capital Improvement Projects After many years of neglect,the City's infrastructure is in dire need of repair and replacement. Accordingly, major projects have been identified in order to address the aging infrastructure. Same have been outlined in the table below: 11 MAJOR CAPITAL PROJECT PIPELINE as of 07/01/2018 Cost % Period to Name 000s - • 1, Corn feted corn. e` Financial Gain via Cairo Lane $ 5,100 Street drainage&road improvement 50% 6 Months Increased ad valorem Burlington Street Canal 700 Canal slope correction&bank stabilization. 52% 6 Months** Historic City Hall-Phase 2 1,200 Building rehabilitation. 0% 6 Months Bahman Avenue 655 Replace gravity mains. 0% 6 Weeks 2105 Ali Baba Restoration 471 Roof replacement(Cultural Arts Bldg.) 0% 1 Year Citywide Milling&Resurfacing-Phase 1 310 Self descriptive. 95% 1 Month Citywide Milling&Resurfacing-Phase 2 280 Self descriptive. 0% 2 Months Citywide Water&Sewer Lines 485 Feasibility study. 0% 18 Months 147th Street"` - Roadway stabilization. 0% 2 Months Zone 1 6,000 Rehab.of wastewater lines. 0% 5 Years Increased ad valorem Zone 2 6,000 Rehab of stormwater drainage. 0% 5 Years Increased ad valorem Replace wastewater lines&upgrade Zone 6 6,000 drinking water lines. ' S Years Increased ad valorem Total $27,201 'Completion period,relative to date of report,Citywide Milling&Resurfacing-Phase 2 excepted(2019 start date). **After issuance of the City's CAFR. ***City provides labor,materials being donated. The wanton neglect of the City's infrastructure not only places it at risk of costly major breakage at anytime in the near future, it is presently causing the City to needlessly incur significant additional expenses in the areas of drinking water and sewage treatment due to leakage and infiltration,all of which seem logical as we're dealing with clay pipes which were laid in the 1960s and have easily exceeded their intended useful lives. Estimates,although not supported by studies, have cited infiltration in excess of 50%on the sewage lines. Moreover,these conditions will continue to worsen with continued increasing levels of infiltration and run the risk of significant failure if not first replaced. The aforementioned infiltration is not only a potentially major mishap waiting to happen, but in the interim proves exceedingly costly as the City has to purchase more water than it can sell to its residents and also pays for the treatment of stormwater,atop the customary wastewater. A Working Capital Fund shall be created,which will provide the City with the ability to access loan and grant programs in order to realize the projects described above. An Emergency Fund shall also be created. The targeted balances are: Working Capital Fund: $1.0M Emergency Fund: $0.5M PROPOSED CHANGES Plan for return to fiscal normalcy 1. Without exception, all funds will conduct its operations with 80%of its revenues. 2. Each fund will have ten percent(10%)of its revenues set aside for the creation of a working capital and emergency fund. 12 3. Each fund will have ten percent(10%)of its revenues set aside for the repayment of old/delinquent debt. 4. Each fund will operate as an independent profit center charging other funds for services rendered, as well as paying for any services secured from other funds. This practice will include payments being made to the appropriate fund for: a. Rent pertaining to space occupied; b. The use of equipment; c. Services rendered, e.g. Public Works servicing other division's automobiles. 5. The practice of renting equipment which is routinely used by the City will be scrutinized in order to determine if its purchase would be more fiscally prudent. Reporting As this report is being prepared,the City is undergoing the audit requisite for the preparation of its FY 2016 CAFR,with the FY 2015 CAFR having been issued only a few months ago, in February 2018. These are financials which should have been completed and made public no later than the early months of calendar year 2016 and 2017, respectively. The Finance Department's current staff has been combatting many challenges in piecing together yesteryear's activities for presentation to the auditors. In that evidence of financial activities having been diligently recorded and reconciled over the years did not seem to have been a normal, routine activity. Presently,the Finance Department schedule entails the completion of the FY 2016 audit,then the commencement and completion of FY 2017, by which time FY 2018 would have been completed. The game plan presently being executed is one which will have the City's FY 2018 CAFR issued during the early months of calendar year 2019. Monthly Financials Effective October 1, 2018 the City shall issue unaudited monthly financial statements no later than thirty (30)days after month end. Such financials shall be prepared reflecting all pertinent accruals, in order to provide a true reflection of the City's financial condition and shall be shared with the mayor and commissioners,as well as posted on the City's web page, available for public scrutiny. While it is important that the numbers be made available,these financials must also be accompanied by management discussion and analysis,with any and all exceptions cited. Furthermore, it is important that the City has an engaged community comprised of its residents, businesses and other stakeholders. To this end,the first of what we intend to be periodic Budget Workshops shall take place on August 15, 2018. 13 FINANCIALS Summary 411045#jal". 21/15- Amended 001-GENERAL FUND $ 1IIIRMuIM AD VALOREU 13,288,301. 8,001,547 4485, 24 8208,808 4355r401 8223,171 FEES 80264 71,403 72,1431 74,298 75,773 77,288 FRES 1,970041 1221,000 1,235.220 1250024 2,285,123 1,4141,825 FRMICII5E&UTILITY 1,407.041 2521 1,5441,4172 1420, FRfA1lCIRSEAND UTU1Y 74422 817,8419 419,208 T0290 72,002 73,E LICENSES 223}742 222,277 228,723 231,257 234882 240,800 OTHER 187,833 133,387 138,034 134795 141,530 144,381 PERMITS 977911 589,403 579.585 591459 902,979 REM 430,550 2041,030 2,203,909 2202050 Transfer 1,142.703 2305.107 774S107 Z Funded 1,724,140 01 0 0 0 0 ERPROIRDIR BUILDING AND LICENSES -378,273 487208 -482,309 485279 400,012 20,895 CITY ATTORNEY -437,842 sC47,1174 319498 428,729 40,470 -540,448 CITY{1.ERK 360,758 390,022 -391,4439 a12,833 , CITY couMISSON -42,175 173,1413 -150,483 -37„299 -283,227 98,088 CnY MAN RITEFFIRID TRANSF 325,996 0 0 0 0 0 CITY MAN_GM G _ -1,297,500 -0232408 408 ? 17 1,750,020 -1.272404 4,282252 an.MANAGER EMERGENCY 100,941 34000 44nce -31,212 -31,838 -32,473 Ow MANAGER E XE *JWE -824187 -385,351 409,471 422279 -435,285 -444279 OW MANAGER RESERVES -1428948 0,141 2,34'00439 -,005,745 -2 030,E 3,387,185 CODE EPIRnCEM T 318,934 447,088 412,.295 -478,787 ,139 4712,068 COMMUNITY D#ELOPimQT -i07 3 -344207 354250 -383,207 RNANCE X9,067 -805070 -8243E44 4E4,073 472,552 '092, NIA UM RESOD "JSS,12s -309,1121 -310413 -324112 2 338,878 314,908 PARIS AND RECREATION 431,082 -0477811 4183,757 478587 POUCEADMINSTRUTOhI -700,913 -748,381 -572,377 -585,337 -967,823 408,938 PQUCE CHEF '434,917 -427,297 439,282 450297 +492,286 472,844 POLICE CID -527,984 -500,444 473,473 -580299 489233 498, POLICE PATROL �,Q39 -4 819301 -0405,520 45A"� 4a110 -Y`1� PW-NAWNSTRAIION 278 -247,32S -280,884 280,339 .2289, 7,994 -315,478 PW-BUILDING MMWNNTENANCE x,,089 -382,247 .404,580 412,393 427423 -437,358 PAP-GROUNDSAND PARK LU ITENANCE 38,050 3maw -31,212 -71,039 -32,473 PW-ROADS&STREETS -529,782 4674248 -890,078 4183,425 437247 4147,212 PIN-SAN OD-ION -55000 -120,800 -122,400 -124248 127,345 -100,092 Pf$-VENUE MAINTENANCE 489,505 4842E7 -701,710 -718207 734808 750,818 14 - G . .uxhx ....,a. -, ��. y, o- �` 9 � Ii" 440_WATER A N1: ! ` k a#.,:.;: ,L m� "�. EWER FUND Atle 'B4874r83D -11.5---,-,182 A Reno 24$ 1°TT Ifijaa46418 13419"813 O O k � 0 0 0 0 5,515 5 238 554 DMA 4 5`°47 DiFER 4 O 0 0 0 0 REIM State Revak 1.726285113 0 0 0 0 Tamer 0 o 0 o 0 0 0 0 0 0 0 0 Z FandRal EIPMdihMSS -2,177.23° 1,38 -1,398"e27 -1,4 7 ADIWRSTRATION NE3ER[ A©E!is +2 - giex - .i7g 375,81U a 9s 12, .3e0 -2821,°94 - .V '2 -3,061,138 '247,7 B 255 S SHIYIC� 5°' -2,512.935 2 6 WAIER&SORER GPIM PR I ,ss0 -23a .4 .119° T%MAIER SHE 15 041*IIIIHM ,' rt"" 5 ' " 326-SAFE NEIL-LSAP. ..FUND &AeYenues FRNOSSE R tfill[i1' 0°� 0' 234 297,7s7 ' OilER 14,822,0°° 0 0 0 0 -30° E �° °0O YP1FAL P10J�IS 16 I ',11 11,,_ 41110AVAallA 180-CM FUND illicannuss bY e:4i ",�i 5 95332 8.233 M7.814 f 394104 • ...-..1 .... ... 17 ,_ ,,,,. , f„,.-zd 4 11106141egilla. , ez 11:1 ii 2,1 .,.: ' ,. --,.- :,,-:-,;-:',L:-•-,7-4,-: yam : ', d Aj` r r i ir f ,r Il �rnende4 .�. .�.. ate' ` ` U9-INFORMATION TECH FUND PJ32111F111. eg , !•1i 61,6A4 • a tt� r s45� 0'. r i z' : 547.1E r . _ 5 r I ,--:. 4 4,: xr*!r '58&n es;l Gb.S7r 3,rYS.,.1REI B s h; ', i�' I i _ � , � . � 1 i 1,-1 i '� � 18 0)621j1215: A 176-PEOPLES TRANS TAX FUND aiattimulles Ini„eao IBASIS 185,454 187'3°8 Es diture� PEi1PLESTiaAr�.T X - -187'3a€ 19 sue; kh: .h..t'."F4wv A*M1a'tt:rz«,sxv.. .. ,+.. .,�. x. v$,,, e.,w.M..ev.'r ,x wzs n�. .. ",Bitigei :� r titttIA 118-RISK MANAGENT FUND 4.111EffitilIgn a 0 0 0 0 A7sr,aa2 2)8570033 2,243.238 2,443,./135 2,1119M3 ys+ ? T s amo.�o ASIS BI PROP,GIBi4f I1l,1a IOdf' 20 0 �+�L9 320-SAFE NEIG.CAF_!VIP_FUND A RO MINI FRN R.UUIIU1Y sas„eau 204,800 297,757 3CO3 OTHER 1,002,000 a 0 0 0 CMPIi L.P grp1pp0, 294,800 szfir,TST -370,733 21 j q f ,� i14,41,1!„. a`�R A. �t� !( '.. � ' WlrJ UC ui5}zj 1,)';'"'"4tir r .7 �� A1144JwRiL $ �-:� �T i� �.t.s°vYa� 165-SPECIAL LAW ENFORCEMENT A Revenues tom'• Vie 'f §"^+n'�:- ti. d • y�j Qa 10„10 i.�^s0= 10, 3 SPiAm 1Furi[t'Ba� .. U 22 f� 450-STORM WATER FUND &tMnues STORIMMER aaga34 7013,082 1711,324 751,204 773,710 748; Expenditwes STORWMAIER -5+4+38 -708611362 - - 773,740 79H18 3 23 4 -11" 1-.1 1'1 t 1'11•11111.1k4.,141 t:21 l'Azri141(i - Budget. `. 2018 Amended 490-TOWN CENTER ONE Revenues 3K5-ew 40,377 227,712 - 4191719 iTransfer _ I I ..„ .1;1r ,111:21 .414,4114 422198 24 FINANCIALS (Details) 401 tinoodod 001.-GENERAL FUND S Revenues AD 1AUAR A 3111 CD AD%911°11ENl TAXES lL9P9�441 ' _ - — FEES 3412aD lDNINO I®u6 SIP FE 841A00 NOTARY FEES 347210 IiBCRACfPflY E$ 3y4T Q IiNTI-OFPARKF�L7LT 1A?1 84T9r�0 $LININIER Pf�Of R M s 847270 R6C FO0RRr11L PRIOGQ 947821 FOOL F# L11Y REVEN 11D QQOEENFORQEUF�IR mAli ' 854!11 COS hire # T 861552 CODEENRiCEhINIF P A -=, 3541.1$ CE FEE 2.171 L120 QQfEENFORQI11Tia A 35tLQ4 QQURrFINE'd-QQUNT aG1A75 i "' G Eltal 8541OO 111CLA11CJN OF 119CL 7 ' ~=--__ 861538 OODEENFOR N�JBIAFI ou. 9643A0 RED LJIEf�CAMEt�IkF UEN 3!MGdl�l 4�l+l0 112 05 RA I OGLQRIN FUE 838id0 FIIIYNCN16E FEE,F.P. r}f� 83853.1 FRIINOII FEE-GRE s 21317°11 RaWctiNE FESC°PA 9E1.�4 '; 919600 FPANQH{8E FEE 9E71 3.400 3131 O Rd1NCFI1OE'FEE-0R �a ; FRANGIIRE A ND UTILITY UI111YT1�1L- f1YOA gppp 814800 U11.IYTA%-i'�1FIER �'�� y 5 �' 3O 6 NI�YHIIYT�DWING 5ER s 901947 �UN9HNETQNIIN IN R0➢0B DOLPNINRAMNID�R 9�0. , �._ �`� ' 864900 Df�NIK�0WN T0YYN6 ism k" ° _... .. ,., , .dni. ,Autfst 1,2013 P 1 of 11 25 R '.12106Q OfcLIP.I nt-p 1 321.1.60 OCO U P E•FELD I 2.r/a ,', 8212)0 OICC LICBlIE4ATE PE 823&10 CONTRACTOR LJCENB s ' 335140 MOOLE HQAE LIEN ;' 4 885150 JXbFICIl.�JYEAAC 3332100 OCCUPA1101W.UC C Alias 338L10 BCHOOLXIl66tlARD ILI?. —4 342100 POLJCEIVR80JR a � 3 42t 4 OFi•DU W RE�IFJIRIE 10.492 l � 8411 PEr0FiNWOEOKB' aA� 368600 0THE2M3C REMI34U 3006114 REFUIM OF1HAWL Ft "140 6ULDF19 PERIIITB qfi ---------.1.- Er E01�c4 PEA 19 alsys MRS ' , 822 0O PwIIaNG PEN 33E801. MECIVOICi1LPE0414T asps 322400 CERT1R11:4TE OF OCOU 1.Q OERf1FIC+mECF'tnE 344.214 �, $21500 LANGLdWW P4AMFI3 8 9000 SPBCIi1L EWNT PERM BEIdAH 7 a 869110 INB REI.E L08 OF FO[ 848E+10 COY�T RFJMWJF 1 LE aaAO1," 3 040 /gnu HENN!ViATER A j 360 A2M RFJTW&TORN °tl 3800Oi P)11.REBMB.T.C.O.E y' 8890E2 ADM RE9YB 1CIWN CE ■ `' -WR1u[ Faill REJi A JU 01D VE]IQILE MllfiITQll4 _7 "[BANS 1/4 CMPIMPD 1.11:1.71. ILJEwsliki 1810110 TIHWi5FERIN L7sl+ki�0 � ' >, .t N4di uc ,Aupst 1,2018 P 2 of It 26 i5r 1:4 �I' �211- IIG AND UCEM mss �` J n71A0 $AtANEB-CIIERTIME � 629134 SAUINE7<E{EWflVE 4yd4A ` IS SRlANF31€�IIJYl -7LQIw7 � _- 5'�i390 S1ILARIGE-PARE 11111E Baas . =',= RCA REIIRIMEPIT 524230 LIFE HEALTH IN#UR 221420 PO8UIGE. o 624440 RENRAL2&LEAAEB 000 . 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During our review of the disputed accounts we noted the former Utility Billing Supervisor made a recommendation to the City Manager on how to settle the dispute with the customer, but no action has been taken. In addition, another account,for the same customer was subsequently opened and is currently active. • There were no schedules available that identified customer account balances as of or near the end of the year end. Criteria Utility billing procedures should include accounts reconciled timely and accurately to ensure customer are billed accordingly and amounts are tied to the ledgers. Cause Customer accounts are not being properly maintained, reviewed and reconciled in a timely manner by the appropriate City personnel -69- 45 CITY OF OPA LOCKA,FLORIDA Summary Schedule of Findings and Questioned Costs For the Year Ended September 30, 2012 SECTION IQ—FINANCIAL STATEMENT FINDINGS(Continued) Control Deficiencies 2012-01-Material Weakness-Utility Billings and Receivables Effect The City may be unable to collect the amount due from accounts that are not timely reviewed or attainable in a physical document form_ Recommendation We recommend the City review the utility billing process currently in place and implement procedures that will allow for effective and efficient monitoring of customer accounts- new of Responsible Officials and Planned Corrective Actions PRIOR YEAR-Management has development aggressive procedures to closely monitor all utility customers accounts and provide timely resolutions to all issues concerning Utility Accounts. Management will also review the previous recommendations of the former Utility Billing Supervisor for consideration for proper action. CURRENT YEAR—Based to the recommendation in prior year the City was unable to see timely results of its implementation. Procedures are in place to show a more favorable outcome in the future. 2012-02 _ Condition Financial information should be presented to management on an interim basis to help in financial decisions and planning- Criteria Once account reconciliations have been completed as addressed in finding 2012-02,the appropriate financial statements should be provided to management for meeting and discussion purposes- Cause A complete set of financial reports are not being provided to management on an interim basis- -70- 46 CITY OF OPA LOCKA,FLORIDA Summary Schedule of Findings and Questioned Costs For the Year Ended September 30,2012 SECTION III—FINANCIAL STATEMENT FINDINGS(Continued) Control Deficiencies 2012-02-Material Weakness-Interim Reporting Effect Without proper interim financial information, management may not be able to make prudent financial decisions or plans_ Recommendation We recommend that after the proper reconciliation procedures have been adopted as noted in finding 2012-02, the financial reports be prepared and made available for management's meetings and discussions on an interim basis. Frew of Responsible Officials and Planned Corrective Actions Management agrees with this recommendation and will commence issuing monthly financial statements to the commissioners. 2012-04 Condition We noted during the course of the audit that many of the financial statement accounts which include due tolfrom other funds, were not properly reconciled to reflect the appropriate balance as of year end_ Criteria In order to make the financial reports generated by the accounting system as meaningful as possible, the City should reconcile the general ledger accounts on a monthly basis. A benefit of monthly reconciliations is that errors do not accumulate but can be identified and attributed to a particular period,which makes it easier to perform future reconciliations_ Cause Financial statement accounts are not being reconciled in a timely manner_ 47 CITY OF OPA-LOCKA,FLORIDA Schedule of Findings and Questioned Costs For the Year Ended September 30,2014 SECTION II-PRIOR YEAR FINANCIALSTATEMENT FINDINGS 2013-01 Journal Entries and Account Reconciliations(Repeat finding from FY2012) Status—Implemented 2013-02 Utility Billings and Receivables(Repeat finding from FY2012) Status—Implemented 2013-03 Interim Reporting(Repeat finding from FY2012) Status—Implemented 2013-04 Licenses and Permits(Repeat finding from FY2012) Status—Implemented 2013-05 Capital Leases Status—Implemented 2013-06 Accrued Competed Absences Status—Implemented 2013-07 Budgets Status 2013-08 Deteriorating Financial Condition Status 2013-09 Grant File Documentation Status—Implemented 2013-10 Federal Clearing House Submissions and Submission to the Auditor General Status—Implemented 2013-11 Statistical Information Status—Implemented 86 48 CITY OF OPA-LOCKA,FLORIDA Schedule of Findings and Questioned Costs For the Year Ended September 30,2014 SECTION III—FINANCIAL STATEMENT FINDINGS(Continued) 2014-02 Budgets(Repeat finding from FY2013) View of Responsible Cricials and Planned Corrective Actions: Management concurs_ The Finance department and the Budget Administrator along with the City Manager will continue to work closely with the Department Directors to monitor their expenses. Management will have to make the decision to amend budget to be in line with the expenditures at year end. 2014-03 Deteriorating Financial Condition(Repeat finding from FY2013) Condition:There has been a lack of information for timely reporting Criteria.The City needs to be able to keep the revenues in line with expenditures and not rely on revenues from utility funds_ Cause: There have been significant staff turnovers at the highest level, which has disrupted continuity and has caused ineffective training for finance staff as well as a general lack of experience with specific matters related to the City Property values continue to decline which causes a loss in property tax assessments and a reduction of a significant revenue stream. Unemployment levels remain very high at 17.5% and household incomes are not increasing. E,,�ect Recommendation: We recommend that management develop a five year plan to address its financial condition and stabilize the City before financial emergency conditions could potentially take effect. Mew of responsible official and planned corrective action: Response from management remains open SECTION IV-FEDERAL AWARD FINDINGS NOW noted. SECTION V-OTHER MATTERS None Noted_ 88 49