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JEFFREY R. SMITH, CPA, CGFO, CGMA Clerk of Circuit Court & Comptroller Finance Department V'27 th Street eroBeach, FL 32960 Telephone: (772) 226-1516 April 27, 2022 Honorable Peter D. O'Bryan, Chairman of the Board of County Commissioners and Indian River County Board of County Commissioners 1801 27th Street Vero Beach, FL 32960 Dear Chairman O'Bryan and County Commissioners: Attached please find our fiscal year 2023 budget in the amount of $1,393,770. This budget represents a $153,416 increase over the previous fiscal year budget of $1,240,354. Details regarding the increase are listed below: • With inflation running at 8.5%, we are requesting a 6% cost of living increase for employees. • Our Internal Auditor is retiring June 30, 2023. This budget includes a new Internal Auditor position, at a total cost of $86,034. We would like to begin this position at the start of the fiscal year in order for the current Internal Auditor to adequately train his replacement and ensure a seamless transition in the Division. • We have also been without a Staff Accountant since September of 2021. We have been unable to fill this position and believe a Senior Accountant position will attract more qualified applicants with governmental experience. • We are therefore seeking to replace the Staff Accountant position with a Senior Accountant position, at a more competitive salary, resulting in an increase of $22,352 over the currently funded position. • The budget also includes $8,400 in annual maintenance costs for software needed for the implementation of the new required governmental accounting standard on leases. The proposed budget represents a 12.4% increase over the current fiscal year budget, with the majority of the increase due to the needed Internal Audit and Senior Accountant positions. Attached is the Clerk's budget summary comparison. Although mandated by the State courts to replace our IT hardware and software and pay annual maintenance and IT staffing, we did not request any such funding from the Board. We continue to fund the courthouse IT Department, including upgrades and maintenance of hardware and software, from recording fees in the various special revenue funds. These funds have significantly depleted over the past several years and we may find the need to request financial assistance within the next 2-3 years. Should you or any member of the Board have any questions regarding my proposed budget, please let me know. Sincerely, Jeffrey R. Smith, CPA, CGFO, CGMA Clerk of the Circuit Court and Comptroller • cc: Jason Brown, County Administrator Kristin Daniels, Budget Director Elissa Nagy, Chief Deputy of Finance 69