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FY 2022/23 Budget Highlights The total proposed budget is $451,964,531, a decrease of $90,319,319 or 16.7% from the current year. It should be noted that this is an increase of $23,911,619 or 5.6% from the beginning budget of $428,052,912 for the current year. However, this is still 4.3% below the approved FY 2006/07 amount of $472,420,328. A detailed all - fund expense summary is contained in the exhibits following this message (pages 16 and 17). The following chart illustrates the 10 -year trend in the County tax roll. The FY 2022/23 taxroll is approximately $2.78 billion or 13.5% higher than the previous fiscal year. Although the current change in taxable values is positive, there is some uncertainty regarding future years' taxroll growth as inflation, labor shortages and supply chain issues continue to plague the current economy. Indian River County Countywide Taxable Value (In Billions) FY 14 - FY 23 $25.0 $20.0 $15.0 $12.9 $13.4 $14.3 $23.4 $17.4 $.2 18.6 $19.6 $20.6 $15.2 $16.2 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 Highlights of the FY2022123 Budget: • Tax roll Increase —13.5% countywide; 14.4% unincorporated area. • Sheriff Funding — Recommended $7.25 million increase as agreed by Sheriff (reduction from initial request of $10.9 million increase) Continued funding of School Resource Officers at 50%/50% split with School District • Retirement Rate Increase - $2,365,540 Countywide including Constitutional Officers • Continued focus on deferred maintenance, capital and renewal & replacement. Total countywide expense - $9.7 million • Full-time Position changes - BCC reflects a net increase of 12 full-time positions; addition of 29.75 FT Constitutional Officers; 41.75 total increase in FT positions. The proposed budget includes funding for salary increases for County employees due to increases in the cost of living and the need to remain competitive to recruit and retain qualified workers to provide a high •level of service to County residents. Staff continues to negotiate with both the International Association of Fire Fighters (IAFF) and Teamsters Unions regarding union contracts. 5 $10.0 • $5.0 $0.0 $23.4 $17.4 $.2 18.6 $19.6 $20.6 $15.2 $16.2 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 Highlights of the FY2022123 Budget: • Tax roll Increase —13.5% countywide; 14.4% unincorporated area. • Sheriff Funding — Recommended $7.25 million increase as agreed by Sheriff (reduction from initial request of $10.9 million increase) Continued funding of School Resource Officers at 50%/50% split with School District • Retirement Rate Increase - $2,365,540 Countywide including Constitutional Officers • Continued focus on deferred maintenance, capital and renewal & replacement. Total countywide expense - $9.7 million • Full-time Position changes - BCC reflects a net increase of 12 full-time positions; addition of 29.75 FT Constitutional Officers; 41.75 total increase in FT positions. The proposed budget includes funding for salary increases for County employees due to increases in the cost of living and the need to remain competitive to recruit and retain qualified workers to provide a high •level of service to County residents. Staff continues to negotiate with both the International Association of Fire Fighters (IAFF) and Teamsters Unions regarding union contracts. 5