Lake MSTU Financial Impacts Lake MSTU Financial Impacts and Adjustmentsand Adjustments

Lake MSTU Financial Impacts Lake MSTU Financial Impacts and Adjustmentsand Adjustments

February 24, 2009February 24, 2009February 24, 2009February 24, 2009

Orange County Orange County Board of County CommissionersBoard of County Commissioners

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AgendaAgendaAgendaAgenda

•MSTU BackgroundMSTU Background

• Financial StatusFinancial Status

•Proposed Changes Proposed Changes

•Next StepsNext Steps

AgendaAgendaAgendaAgenda

•MSTU BackgroundMSTU Background

•Financial StatusFinancial Status

•Proposed Changes Proposed Changes

•Next StepsNext Steps

MSTU BackgroundMSTU BackgroundMSTU BackgroundMSTU Background

• The management of lakes in Orange County is The management of lakes in Orange County is funding exclusively through the MSTU/BU funding exclusively through the MSTU/BU mechanism. mechanism.

• EPD manages all of the lake MSTU funds, EPD manages all of the lake MSTU funds, budgets, projects, aquatic plant management budgets, projects, aquatic plant management services and corresponding lake advisory boards.services and corresponding lake advisory boards.

MSTU BackgroundMSTU BackgroundMSTU BackgroundMSTU Background

• Lake JessamineLake Jessamine

• Lake HoldenLake Holden

• Little Lake FairviewLittle Lake Fairview

• Lake KillarneyLake Killarney

• Lake Mary JessLake Mary Jess

• South Lake FairviewSouth Lake Fairview

• Lake WaumpiLake Waumpi

• Lake SueLake Sue

• Bass LakeBass Lake

• Lake PickettLake Pickett

• Big Sand LakeBig Sand Lake

• Lake MarilynLake Marilyn

• Lake LawneLake Lawne

• Lake WhippoorwillLake Whippoorwill

• Asbury CanalAsbury Canal

• Lake HorseshoeLake Horseshoe

• Butler Chain*Butler Chain*

• Lake PickettLake Pickett

• Big Sand LakeBig Sand Lake

• Lake PriceLake Price

• Lake JeanLake Jean

• Lake IrmaLake Irma

• Big Lake FairviewBig Lake Fairview

• Lake OlaLake Ola

• Lake Conway*Lake Conway*

Currently establishedCurrently established

Community requested, awaiting creationCommunity requested, awaiting creation•Lake SusannahLake Susannah•Lake LaGrangeLake LaGrange•Lake RobertsLake Roberts

• Lake HiawasseeLake Hiawassee• Crystal LakeCrystal Lake• Lake LovelyLake Lovely

• Lake OliviaLake Olivia• Lake HartLake Hart• Lake Mary JaneLake Mary Jane

* Legislatively created lake taxing districts* Legislatively created lake taxing districts

AgendaAgendaAgendaAgenda

•MSTU BackgroundMSTU Background

• Financial StatusFinancial Status

•Proposed Changes Proposed Changes

•Next StepsNext Steps

Financial Status Financial Status Financial Status Financial Status

• Every year EPD staff evaluates the current and future needs of each lake MSTU.

• Staff determines if revenues are sufficient to meet the expected service needs.

LakeAppointedAdvisory

BoardCommission

DistrictCurrent Millage

Insolvent Date

Lake Mary Jess Yes 4 0.4149 End of FY 2008-09

Bass Lake No-HOA 4 0.8581 End of FY 2010-11

Lake Ola* No-HOA 2 0.0 Insolvent

Little Lake Fairview

Yes 5 0.0 End of FY 2009-10

Lake Killarney Yes 5 0.0 End of FY 20010-11

The 5 lake MSTU’s that will not be able to meet The 5 lake MSTU’s that will not be able to meet their financial obligations aretheir financial obligations are::

* MSTU was created during the “Tax Reform” period and a millage rate * MSTU was created during the “Tax Reform” period and a millage rate was never enacted.was never enacted.

Financial StatusFinancial StatusFinancial StatusFinancial Status

AgendaAgendaAgendaAgenda

•MSTU BackgroundMSTU Background

•Financial StatusFinancial Status

•Proposed ChangesProposed Changes

•Next StepsNext Steps

The proposed changes to the existing Lake MSTUThe proposed changes to the existing Lake MSTUmillage rates are as follows:millage rates are as follows:

Current Proposed Increase

Lake Millage Revenue Millage Revenue Per Parcel Total

Bass Lake 0.8581 $6,506 1.50 $11,373 $110.61 $4,867

Lake Mary Jess 0.4149 $5,368 0.80 $10,350 $48.84 $4,982

Little Lake Fairview

0.00 $0 0.40 $8,018 $119.67 $8,018

Lake Killarney 0.00 $0 0.50 $9,402 $134.31 $9,402

Lake Ola 0.00 $0 1.00 $39,697 $351.30 $39,697

Proposed ChangesProposed ChangesProposed ChangesProposed Changes

AgendaAgendaAgendaAgenda

•MSTU BackgroundMSTU Background

•Financial StatusFinancial Status

•Proposed Changes Proposed Changes

•Next StepsNext Steps

Next StepsNext StepsNext StepsNext Steps

Proposed changes will be part of the upcoming BCC Proposed changes will be part of the upcoming BCC budget discussions.budget discussions.

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800 Mercy Drive800 Mercy DriveOrlando, Florida 32808Orlando, Florida 32808

407.836.1400407.836.1400FAX 407.836.1499FAX 407.836.1499

800 Mercy Drive800 Mercy DriveOrlando, Florida 32808Orlando, Florida 32808

407.836.1400407.836.1400FAX 407.836.1499FAX 407.836.1499

Proposed MSTU ChangesProposed MSTU ChangesProposed MSTU ChangesProposed MSTU Changes

Annual Financial Obligations:Annual Financial Obligations:

Mary Jess:Mary Jess:•Aquatic Plant Mgmt.Aquatic Plant Mgmt. $6,000$6,000•Pond MaintenancePond Maintenance $3,000$3,000

Total:Total: $9,000$9,000Current RevenuesCurrent Revenues $$5,3685,368

Lake Ola:Lake Ola:•Aquatic Plant Mgmt.Aquatic Plant Mgmt.$20,000$20,000•5 yr APM Reserve*5 yr APM Reserve*$20,000$20,000

Total:Total:$40,000$40,000

Current RevenuesCurrent Revenues $$00

Little Lake Fairview:Little Lake Fairview:•Aquatic Plant Mgmt.Aquatic Plant Mgmt. $5,000$5,000•Aeration SystemAeration System $2,300$2,300

Total:Total: $7,300$7,300Current RevenuesCurrent Revenues $$00

Lake Killarney:Lake Killarney:•Aquatic Plant Mgmt.Aquatic Plant Mgmt. $3,000$3,000•Inlet Filter Maint.Inlet Filter Maint. $5,200$5,200

$8,200$8,200Current RevenuesCurrent Revenues $$00

Bass Lake:Bass Lake:•Aquatic Plant Mgmt.Aquatic Plant Mgmt. $6,500$6,500•Inlet Filter Maint.Inlet Filter Maint. $2,200$2,200•Aeration SystemAeration System $1,500$1,500

$9,200$9,200Current RevenuesCurrent Revenues $$6,5066,506

* Community requested

Proposed MSTU ChangesProposed MSTU ChangesProposed MSTU ChangesProposed MSTU Changes

Scheduled Project Obligations:Scheduled Project Obligations:

Mary Jess:Mary Jess:•Current Fund BalanceCurrent Fund Balance $43,000$43,000•Orange Avenue Pond.Orange Avenue Pond. $40,000$40,000

•Working Balance:Working Balance: $3,000$3,000

Lake Ola:Lake Ola:•Current Fund Balance.Current Fund Balance. $0.0$0.0•‘‘09 Hydrilla Treatment09 Hydrilla Treatment$18,000$18,000

Working Balance:Working Balance: --$18,000$18,000

No millage incomeNo millage incomeLittle Lake Fairview:Little Lake Fairview:•Current Fund BalanceCurrent Fund Balance $53,000$53,000•’’09 Hydrilla Treatment09 Hydrilla Treatment $24,000$24,000

Working Balance:Working Balance: $29,000$29,000No millage incomeNo millage income

Lake Killarney :Lake Killarney :•Current Fund BalanceCurrent Fund Balance $129,000$129,000•’’09 Hydrilla Treatment09 Hydrilla Treatment $65,000$65,000•Curb/Grate Inlet FiltersCurb/Grate Inlet Filters $46,000$46,000

$18,000$18,000No millage incomeNo millage income

Bass Lake:Bass Lake:•Current Fund BalanceCurrent Fund Balance $32,000$32,000•Curb/Grate Inlet FiltersCurb/Grate Inlet Filters $6,000$6,000

$26,000$26,000