CIP 2027-2031 (Final) - Flipbook - Page 19
PROPOSED 5 YEAR CIP - 1ST READING
JULY 16, 2026
* Not all funds will be spent by end of fiscal year resulting in a large amount of encumbered funds
being rolled over into the next year using new year cash receipts
Notes:
1. Beginning Fund Balance in FY 2025/26 ties with ACFR FY 2024/25 year-end balance
2. Revenue projections going forward include a 8% increase per year for FY 27/31
3. Expenditures projections going forward include a 5% increase per year for FY 26/31 (inflation)
4. CIP Expenditures projections for 26/27 - 30/31 based on estimated CIP projects
5. Assumes that project budgets are fully spent each year going forward
6. Assumes 25% increase in FY26/27
7. Includes unanticipated flood expenses of $265.931
Building Fund
This fund is used to account for accumulated revenues derived from enforcing the Florida
Building Code, per F.S. 553.80(7)(a)(b). This fund was established in 2019 to account for the
accumulated revenues generated from building activity within the City. Revenue in this fund
is generated by permits and fees for construction.
Building Funding Analysis
Building Fund projections are based upon estimated FY 2025/26 revenues with an annual 3%
projected increase in revenues from FY 2027/31. The total FY 2027/31 revenue estimate is
$7,460,005. The fund must annually carry over the average operating expenses of the
previous four years. Allowable costs are those associated with building personnel, review of
building plans, building inspectors, re-inspections, building permit processing, building
code enforcement and fire inspections associated with new construction. Any trained
deemed necessary to enforce the Florida Building Code is also an allowable cost.
In anticipation of needing future office space, the Building Fund had accumulated a significant
amount of excess funds for a new location for the Building Department. In May 2026, the
Building Fund purchased a building for this purpose. Remediation, demolition and
construction work will soon begin. The building will be designed to meet current and
expected needs for efficient operations, allowing for growth and the addition of more
responsibilities to the Building Department.
In the following year, the basement of the building will be constructed to serve as the City’s
Emergency Operations Center (EOC). There will be several funding sources for this phase
of the project.
Expenditures were estimated at a 5% cost increase for FY 2027/31. However, Florida House
Bill HB803 which goes into effect July 1, 2026, will significantly reduce revenues of the
Building Fund by as much as 30% based on staff estimates.
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