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BOARD OF COUNTY COMMISSIONERS 1801 271" Street, Vero Beach, Florida 32960-3388 Office of The County Administrator Telephone: (772) 226-1214 July 11, 2014 Board of County Commissioners Indian River County 1801 27th Street Vero Beach, FL 32960 Dear Commissioners: As required by Florida Statutes, transmitted with this message is the recommended budget for Fiscal Year 2014/2015 (FY 14/15). The proposed budget represents the general operating framework for providing all County services forthe forthcoming year. As presented, it reflects the County Administrator's plan of implementing and funding the recommended service levels. The budget has been developed with a combination of guidelines provided by the Board of County Commissioners (BCC) throughout the year, critical input from all departments, Budget Department guidance, the Administrator's perception of needs, responses from the community, and the Constitutional Officers' budgets. The "Great Recession" and Recovery The County taxroll is increasing by approximately 4.5% from last year. This follows a slight increase last year, after several years of decline in the wake of the "Great Recession". During this time period, many County revenues declined such as; sales taxes, gas taxes, interest earnings and user fees. Additionally, ad valorem revenues were cut by over $33 million due to a 31% decline in the taxroll. Based upon Board direction, millage rates were held essentially flat in an effort to reduce the tax burden on taxpayers already struggling through a difficult economy. In order to achieve the necessary cuts in expenditures, all efforts were made to improve the efficiency of the organization. The County explored and enacted privatizations, re -negotiated existing contracts, paid down debt, and reduced staffing levels by about 27%. These measures resulted in a leaner, more efficient organization that is better prepared to provide services to the public at a reduced cost going forward. In addition to the changes mentioned above, however, some temporary measures were needed to maintain the lower tax levies, such as the moderate use of fund balance and delayed replacement of capital items. As discussed in last year's budget message, the County began a two-year phase- out of fund balance usage. This plan will be completed in the proposed budget, which is fully balanced without the planned usage of fund balance in any taxing funds. The FY 2014/15 budget d- 3