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06-19-2014 WorkshopCky City Commission Workshop Meeting June 19, 2014 9:00 A.M. 19200 west Country Chih nerve Aventnra_ FL Executive Conference Room AGENDA 1. Overview of AA CC 2014115 Season (City Manager) 2. Resolution Request to Support Pets' Trust (Mayor Gottlieb)* 3. Capital Improvement Program 2014 -2019 Briefing (City Manager) * Action Required: Resolution 4. Revisions to City Investment Policy for the Management of Public Funds (City Manager)* Action Required: Resolution 5 City Clerk Review (Commissioner Joel)* 6. Request to Move July 17 Special Commission Meeting and Workshop to July 11. (Commissioner Joel) Adjournment * Back -up Information Exists This meeting is open to the public. In accordance with the Americans with Disabilities Act of 1990, all persons who are disabled and who need special accommodations to participate in this meeting because of that disability should contact the Office of the City Clerk, 305- 466 -8901, not later than two days prior to such proceeding. RESOLUTION NO. 2014-15 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF KEY BISCAYNE, FLORIDA, RECOGNIZING THE 2012 VOTE OF THE MIAMI -DADE COUNTY ELECTORATE SUPPORTING THE PETS' TRUST INITIATIVES FOR FUNDING ANIMAL SHELTERS, SPAY - NEUTER PROGRAMS AND OTHER ANIMAL WELFARE PROGRAMS; URGING THE hHAMI -DADS COUNTY COMMISSION TO ACT UPON SUCH VOTE IN THE CURRENT BUDGET SESSION BY ESTABLISHING FUNDING FOR AND IMPLEMENTING PETS' TRUST INITIATIVES; AND ENCOURAGING OTHER MIAMI -DADE COUNTY MUNICIPALITIES TO EXPRESS THEIR SUPPORT FOR PETS' TRUST INITIATIVES. WHEREAS, on November 6th 2012, a significant turnout and majority of Miami -Dade County voters approved the ballot question presented by The Pets' Trust, proposing taxpayer- funded initiatives for more humane treatment of stray animals and spa} - neuter programs to reduce the killing of animals throughout Miami -Dade County; and WHEREAS, Pets' Trust is concerned with decent treatment of animals and animal welfare by promoting adoptions; by decreasing overpopulation through free and low -cost income qualified spay /neuter surgeries; by providing income qualified low -cost veterinary care; by providing educational programs; by championing improved shelter care and assistance to rescue groups; by supporting the local Society for the Prevention of Cruelty to Animals (SPCA); and by promoting animal fostering programs; and WHEREAS, with funding logistical and policy support from the Village Council and administration, Key Biscayne veterinary medical professionals and volunteers have developed and operate in and for Key Biscayne a successful spay - neuter and animal adoption program; and WHEREAS, although in 2012 Miami -Dade County voters supported the Pets' Trust initiatives and a modest tax- funding mechanism to finance animal welfare programs, the Miami- Dade County Commission has not budgeted for or implemented the animal welfare initiatives; and WHEREAS, the Village Council of the Village of Key Biscayne, joining other Miami -Dade County municipalities, commends the Pets' Trust initiative and humane treatment policies underlying it. NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF KEY BISCAYNE, FLORIDA, AS FOLLOWS: Section 1 • The recitals stated above are adopted by reference and confirmed. Section 2. The Village of Key Biscayne recognizes the electorate support for the Pets' Trust initiatives and urges the Mayor of Miami -Dade County and the Board of County Commissioners to develop a funding source for and to implement such initiatives. Section 3• The Village of Key Biscayne encourages other Miami -Dade County municipalities to join in supporting the Pets' Trust initiative by communicating such support to the Miami -Dade County Mayor and Board of County Commissioners. Section 4• The Village Clerk is directed to transmit a copy of this Resolution to representatives of the Pets' Trust, to other South Florida municipalities and to the Miami -Dade League of Cities. PASSED AND ADOPTED this 13th day of May, 2014. I 06 H. CAPLAN 2 ATTE x CONCHITA H. ALVAREZ, MMC, VILLAGE CLERK APPROVED AS TO FORM AND LEGAL SUFFICIENCY: VILLAGE ATTORNEY Teresa Soroka From: Irene Secada <i_secada @yahoo.com> Sent: Wednesday, May 07, 2014 12:38 PM To: Teresa Soroka Subject: Fwd: A Resolution From The City of Aventura to save the lives of our animals and to honor the will of our people who voted for the Pets' Trust Attachments: Supporting the Will of the People and Their Vote for the Pets' Trust.docx; ATT00001.htm; How Could You Not Hear This 500000 STRONG (2).png; ATT00002.htm Dear Teresa Soroka: Please let me know if the attached materials accompanied this email. Thank you. Irene Secada Begin forwarded message: From: "Michael Rosenberg" <mike @imapineyourphotos.com> Date: April 12, 2014 at 12:29:36 PM EDT To: "'Irene Secada"' <i secada@yahoo.com> Subject: A Resolution From The City of Aventura to save the lives of our animals and to honor the will of our people who voted for the Pets' Trust We would like to have a resolution from the City of Aventura before the upcoming budget sessions for Miami Dade County. When we first started the Pets' Trust, we were challenged with educating the community about the problems our beautiful animals face because of overpopulation and lack of facilities to take care of so many. The people responded resoundingly with almost 500,000 voters saying... "stop the killing, and we will pay for it." No place in the United States had ever done this before! We ..... were the first. It was almost impossible to believe that our Mayor and eight of the commissioners did not honor the will of the people. So, the members of the Pets' Trust will be back again.... representing the voice of our animals. We hope the City of Aventura will stand with us, and stand with the animals .... and create this resolution which will show your city listens to its people when they vote and want something. But even more importantly, the animals will know .... they will know that the City of Aventura is a community of animal lovers .... a love that transcends politics in favor of simply doing the right thing. Also, please read this great article by Miami's Joe Cardona..... http://www.Miamiherald.com/ 2014 /03/28/ 4025454 /county- leaders - ignoring -the- peoples.html These words perfectly explain why we need to give a resounding message to our "county leaders ". We look forward to meeting you and working with you to move this forward! Michael Rosenberg President Pets' Trust Rita Schwartz CoFounder Lindsay Gorton CoFounder 6952 N.W. 12th St. Miami, FL 33126 305 439 3571 mike(cD-ImagineYourPhotos.com amt •r It r n ■■ ■■ t rr � or tY r ■■ra w id to 13 1-d it I - ■■ 1 ' I f tr n ■ ..aIF� - 1, 1 ra NJ Y Fr rr rr on JL3 a Ju Lr :r {■ rr r s1 t■ ti s �a� !r t Jr.g r r. ■� r i 1 3 -- �■t- _._ate'• 'I �' �- F" � '� •4i�1�Y LU F i■ III `L A r - ter- . � f• C ity of A ventura Capital Improvement Program 2014/15 — 2018/19 �� i iM1'� � �1 M• • /1uft WWII 11111mmmi Md AMIN 1II �I Ali C.,O �� •ti 1�1 wool- - _ - IkL All- IL- CAPITAL IMPROVEMENT PROGRAM 2014/15 - 2018/19 v Eac ce`" f CITY OF AVENTURA CITY COMMISSION Mayor Susan Gottlieb Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Commissioner Luz Urbaez Weinberg CITYMANAGER Eric M. Soroka DEPARTMENT DIRECTORS Weiss Serota Helfman Pastoriza Cole & Boniske, P.A., City Attorney Robert M. Sherman, Community Services Director Teresa M. Soroka, City Clerk Joanne Carr, Community Development Director Karen J. Lanke, Information Technology Director Steven Steinberg, Police Chief Julie Alm, Principal Charter School Brian K. Raducci, Finance Director Steven Clark, Arts &Cultural Center General Manager City Av of entur • R w1 CL1 cnt Centcr 192.00 Wen Colin" Club Dnve Aventura, Florida 33180 { Office of the City Manager June 2014 The Honorable Mayor and Members of the City Commission City of Aventura Aventura, Florida 33180 Enclosed herein is the proposed City of Aventura (the "City ") Capital Improvement Program (CIP) for the fiscal period October 1, 2014 through September 30, 2019 and the proposed Capital Budget for the Fiscal period October 1, 2014 through September 30, 2015. The primary goal of the CIP is to develop a long —term plan of proposed capital expenditures, the means and methods of financing, and a schedule of priorities for implementation. It is important to stress that the CIP is a planning tool to evaluate infrastructure needs of the City as well as the financial capabilities of the City. In order to determine the impact of the CIP on the City's future operating budget, the City Commission and residents will be provided with the benefits of a CIP document which serves as a point of reference and includes an estimated long -term budget plan. At this point in the City's history, the need for major capital improvement funding has decreased substantially due to a very ambitious schedule of completing major community facilities and infrastructure projects during the past eighteen years since the incorporation of the City. This document represents an update of the CIP that was originally prepared for the five -year cycle of 2013 to 2018. The update process is important for the CIP to become a continuing and ongoing planning /implementation process. The last four years of last year's program were reevaluated in light of unanticipated needs, cost revisions, new project priorities and the financial condition of the City. In addition, the CIP was updated to add new projects in the fifth year (2018/19) to complete the cycle. Projects included within the framework of the program were based on input from Commissioners, staff, City consultants and citizens. The following represents the significant revisions or modifications to the proposed CIP compared to the prior document: 1. Added NE 29th Place street resurfacing, safety, drainage and street lighting improvements project - $1,808,000. 2. Added Traffic Video Monitoring System upgrade project - $1,800,000 3. Added NE 191St drainage and road Improvements - $900,000. 4. Added seawall repairs to NE 213th street, 183rd Street, NE 188th Street and NE 190th Street - $4507000. 5. Added NE 187th Street and NE 185th Street resurfacing -$266,000. 6. Added $1,200,000 to retrofit street lighting to more energy efficient LED fixtures. 7. Replace 4 water fountains around Country Club Drive exercise trail - $31,000. The proposed 2014 — 2019 CIP includes 32 projects in five (5) functional categories with a total value of $16,890,900. The following represents the percentage of total funding that each functional category has been allocated: Beautification & Parks Facilities (8 %), Transportation, Drainage and Infrastructure Improvements (55 %), Capital Equipment Purchase and Replacement (20 %), Information /Communication Technology (16 %) and Public Buildings and Facilities Improvements (1%). Major emphasis was placed on the following projects Road Resurfacing $372967000 Stormwater Drainage Improvements 274907000 TVM S Upgrades 178007000 Street Lighting Upgrades 176787000 Park Improvements 173517450 Air Conditioning Unit Replacements 1527000 The document contains a detailed funding plan that forecasts revenues necessary to fund both the CIP and the operating budgets over the next five (5) years. The proposed funding plan is based on the assumption that operating expenditures can be maintained at certain percentage increases and revenues grow at specified levels. The plan is based on conservative estimates. am proud of the many accomplishments and the support the City Commission and residents have shown in the implementation of the capital projects since the incorporation of the City. Our beautification projects, park and open space additions, Government Center, Community Recreation Center, Charter School, Arts & Cultural Center, transportation improvements and many other community enhancements continue to exhibit our commitment to excellence and professionalism. This document serves many purposes. Importantly it serves as an aid to the residents in providing a better understanding of the City's long -term capital needs and how the City intends to meet these demands. It also details our continuing effort to address the needs and concerns of our citizens while making prudent financial decisions which contribute to the City's long -term financial health. The preparation and formulation of this document could not have been accomplished without the dedicated efforts of all Department Directors and their staff. Their professional efforts have assisted in the preparation of this important planning program. request and recommend that you take the following actions regarding the proposed 2014 - 2019 Capital Improvement Program: 1. Hold a workshop meeting to review the CIP document in June. 2. Transmit copies of the CIP summary document to the public. 3. Hold a public hearing to conceptually adopt the final CIP document, by resolution, for implementation. All questions relating to the CIP should be referred to my attention. Respectfully submitted, G• Eric M. So a City Manager CAPITAL IMPROVEMENT PROGRAM 2014-2019 HIGHLIGHTS • Road maintenance projects that total $3,296,000 to resurface asphalt and enhance safety are included for NE 29th Place, NE 207th Street, NE 213th Street, Biscayne Lake Gardens, NE 191St Street, NE 27th Avenue, NE 28th Court, NE 30th Avenue, NE 209th Street, Yacht Club Drive, Mystic Point Drive, NE 187th Street and NE 185th Street. • Provides for improvements to Founders Park, Veterans Park, and Waterways Park in the amount of $324,000 to address upgrades requested by the users of the facilities and maintenance requirements. • Utilizes a stormwater utility program to improve drainage along NE 29th Place and NE 191St Street, upgrades seawalls along NE 213th Street, NE 183rd Street, NE 188th Street, NE 190th Street and maintain systems throughout the City. A total of $2,490,000 has been earmarked during the five -year period. • Funds development of a 1.5 acre new park planned on NE 188t" Street at a cost of $980,000. • Provides funding in the amount of $1,200,000 to retrofit street lighting throughout the City with more energy efficient LED fixtures and $478,000 for new street lights on NE 30th Avenue and NE 29th Place. • Includes $1,800,000 to upgrade the City's Traffic Video Monitoring System to the latest state -of- the -art technology. • Provides the necessary equipment to continue to provide high quality and effective police services. • Continues the implementation of technology improvements and management information systems to enhance the productivity and efficiency of City operations. • Ensures that the tools of production, vehicles, equipment and technology, are available for City operations. CAPITAL IMPROVEMENT PROGRAM 2014-2019 TABLE OF CONTENTS INTRODUCTION PAGE Purpose of the Capital Improvement Program 1 Legal Authority 2 Development of the Capital Improvement Program 2 Capital Improvement Program Policies 3 Preparing the Capital Budget 4 Locating a Specific Capital Project 4 Reading the Program Schedules 5 OVERVIEW OF RECOMMENDED PROJECTS Summary of Recommended Projects 7 Summary of Major Programs 7 Summary of Proposed Appropriations by Funding Source 8 Summary of Projects by Location and Year 9 FUNDING PLAN Introduction 11 Debt vs. Pay -As- You -Go Financing 11 Required Separation of Funding Sources 12 Summary of Financing Plan Model 13 Proposed Financing Plan General Fund 14 Proposed Financing Plan Transportation Fund 18 Proposed Financing Plan Stormwater Utility Fund 19 PROJECT DESCRIPTIONS AND FUNDING SCHEDULES Beautification and Park Facilities Improvements 22 Transportation, Drainage and Infrastructure Improvements 30 Public Buildings and Facilities Improvements Information /Communications Technology 37 41 Capital Equipment Purchases and Replacements 50 : :W �*I ��mm somiy glow" i' mm:■ 1m� m imm 1s iM wo */ :M INTRODUCTION City of Aventura INTRODUCTION This section describes what a Capital Improvement Program (CIP) is and the process for developing the City of Aventura (the "City ") Capital Improvement Program and Capital Budget. This introduction also explains how to locate a specific project in this document. PURPOSE OF THE CAPITAL IMPROVEMENT PROGRAM The purpose of the CIP is to establish a long term plan of proposed capital expenditures, the means and methods of financing, and a schedule of priorities for implementation. In order to determine the impact on the City's operating budget, debt service and the general trend of future expenditures, the City Commission will be provided with the advantage of a CIP document as a point of reference and estimated long -term budget plan. In accordance with the State's Growth Management Act, the City is required to undergo this process in order to meet the needs of its Comprehensive Plan. The CIP is an official statement of public policy regarding long -range capital development within the City. A capital improvement is defined as a capital expenditure of $5,000 or more, resulting in the acquisition, improvement or addition to fixed assets in the form of land, buildings or improvements, more or less permanent in character, and durable equipment with a life expectancy of more than one (1) year. In addition, equipment that has a value of $5,000 or less is also included in this document for budgetary purposes. The CIP lists proposed capital projects to be undertaken, the year in which they will be started, the amount expected to be expended in each year and the method of financing these projects. Based on the CIP, a department's capital outlay portion of the annual Operating Budget will be formulated for that particular year. The CIP document also communicates to the citizens, businesses and interested parties the City's capital priorities and plan for implementing projects. The five -year CIP is updated annually to add new projects in the fifth year, to re- evaluate the program and project priorities in light of unanticipated needs, and to revise recommendations to take account of new requirements and new sources of funding. Capital Improvement programming thus becomes a continuing part of the City's budgeting and management procedures. The annual capital programming process provides the following benefits: 1. The CIP is a tool for implementing the City's Comprehensive Plan. 2. The CIP process provides a mechanism for coordinating among projects with respect to function, location, and timing. Capital Improvement Program 2014 -2019 Page 1 City of Aventura 3. The yearly evaluation of project priorities ensures that the most crucial projects are developed first. 4. The CIP process facilitates long -range financial planning by matching estimated revenue against capital needs, establishing capital expenditures and identifying the need for municipal borrowing and indebtedness within a sound long -range fiscal framework. The sound fiscal policy that results from this process will have a positive impact on the City's bond rating. 5. The impact of capital projects on the City's operating budget can be projected. 6. The CIP serves as a source of information about the City's development and capital expenditures plan for the public, City operating departments and the City Commission. LEGAL AUTHORITY A capital programming process to support the comprehensive plan is required by the Local Government Comprehensive Planning and Land Development Regulations, incorporated as Chapter 163, Florida Statues. DEVELOPMENT OF THE CAPITAL IMPROVEMENT PROGRAM The City's capital programming process began in January when operating departments were required to prepare requests for all proposed capital projects anticipated during the period of 2014 - 2019. A CIP Preparation Manual and related forms were distributed to all departments for this purpose. In February, departmental prioritized project requests were submitted to the City Manager's Office. Department Directors were asked to justify projects in terms of benefits derived, necessity to health, safety and welfare of the City, enhancement to City plans and policies, need of residents and funding. Projects were prioritized on the basis of Urgency, Necessity, Desirability, and Deferability. The City Manager reviewed departmental requests and conducted individual meetings with Department Directors. The departmental requests were prioritized and the five - year schedule of projects was compiled into document form by the City Manager. The methods of financing and revenue sources were then prepared by the Finance Director and City Manager and were incorporated into the CIP document. At this point, the proposed CIP is submitted to the City Commission and public for review. In order to facilitate public involvement, public hearings and community meetings will be held to unveil and review the CIP document prior to the adoption of a Resolution approving the CIP in principle. Capital Improvement Program 2014 -2019 Page 2 City of Aventura CAPITAL IMPROVEMENT PROGRAM POLICIES 1. Annually, the City will prepare a five -year capital improvement program analyzing all anticipated capital expenditures and identifying associated funding sources. Future capital expenditures necessitated by changes in population, changes in development, growth, redevelopment or changes in economic base will be calculated and included in the Capital update process. 2. The City will perform all capital improvements in accordance with an adopted CIP. 3. The classification of items as capital or operating will be determined by two criteria - cost and frequency. Generally, a capital project has a "useful life" of more than one (1) year and a value of $5,000 or more. In addition, equipment that has a value of $5,000 or less is also included in the document for budgetary purposes. 4. The City will coordinate development of the capital improvement budget with the development of the operating budget. Future operating costs associated with new capital improvements will be projected and included in the operating forecasts. 5. The first year of the five -year capital improvement program will be used as the basis for formal fiscal year appropriations during the annual budget process. 6. The City will maintain all of its assets at a level adequate to protect the City's capital investment and to minimize future maintenance and replacement costs. 7. The City will identify the estimated cost of capital projects and prepare a funding projection that considers revenues and operating costs to be included in the Capital Improvement Program document that is submitted to the City Commission for approval. 8. The City will determine the most appropriate financing method for all new projects. 9. If appropriate, the City will attempt to maintain a mixed policy of pay -as- you -go and borrowing against future revenues for financing capital projects. 10 The City will maintain ongoing maintenance schedules relating to road, sidewalk and drainage system improvements. 11. The City will address and prioritize infrastructure needs on the basis of protecting the health, safety and welfare of the community. 12. A CIP preparation calendar shall be established and adhered to. 13. Capital projects will conform to the City's Comprehensive Plan. 14. Long -term borrowing will not be used to fund current operations or normal maintenance. 15. The City will strive to maintain an unreserved General Fund Fund Balance at a level not less than 10% of the annual General Fund revenue. Capital Improvement Program 2014 -2019 Page 3 City of Aventura 16. If new project appropriation needs are identified at an interim period during the fiscal year, the funding sources will be identified and mid -year budget amendments will be utilized to provide formal budgetary authority. In addition budget amendments may be utilized to increase appropriations for specific capital projects. PREPARING THE CAPITAL BUDGET The most important year of the schedule of projects is the first year. It is called the Capital Budget and is adopted separately from the five -year program as part of the annual budget review process. Based on the CIP, each department's capital outlay portion will be formulated for that particular year. Each year the CIP will be revised and another year will be added to complete the cycle. Capital Improvement Programming thus becomes a continuing part of the City's budget and management process. The Capital Budget is distinct from the Operating Budget. The Capital Budget authorizes capital expenditures, while the Operating Budget authorizes the expenditure of funds for employee salaries, supplies and materials. Through the City's amendment process, changes can be made to the adopted Capital Budget during the fiscal year. A request for amendment is generated by an operating department based on an urgent need for new capital project or for additional funding for a previously approved project. The request is reviewed by the Finance Director and City Manager and, if approved by the City Manager, a budget amendment is presented to the City Commission. LOCATING A SPECIFIC CAPITAL PROJECT The Capital Improvement Program is divided into five (5) program areas as follows: Beautification and Parks (BP) Transportation, Drainage and Infrastructure Improvements (TDI) Public Buildings and Facilities (PBF) Information /Communications Technology (ICT) Capital Equipment Purchases &Replacement (CE) Each project in the Capital Improvement Program has a unique project number. This project number appears at the beginning of the individual project descriptions and the Summary by Year tables. The first digit refers to functional category priority number assigned by the City Manager. The final digits outline the individual department requesting the project. For example, project TDI -1 -CS is Transportation, Drainage and Infrastructure Improvements project number one which was requested by the Community Services Department. Capital Improvement Program 2014 -2019 Page 4 City of Aventura READING THE PROGRAM SCHEDULES Detailed information about each capital project is presented in the section titled "Capital Improvement Program Project Descriptions and Funding Schedules." The section is arranged by program area and functional category and includes a description of each project and the funding schedules. Project timetables for each functional category are indicated in the Summary by Year tables. The funding schedules are based on the funding needed to complete an individual project. A project's funding may continue for several years depending on the development timetable. Each program has a separate Funding Plan Table that outlines the revenue sources proposed to fund project expenditures. Capital Improvement Program 2014 -2019 Page 5 A•� S � , ffff i i i S �I AMP n� u f k; City of Aventura r� F J .yam � *• � Y~_ IFS r� FLO OVERVIEW Capital Improvement Program 2014 -2019 Page 6 City of Aventura OVERVIEW OF RECOMMENDED PROJECTS SUMMARY OF RECOMMENDED PROJECTS The proposed 2014 — 2019 CIP includes 32 projects in five (5) functional categories with a total value of $16,890,900. The following represents the percentage of total funding that each functional category has been allocated: Beautification & Parks Facilities (8 %), Transportation, Drainage and Infrastructure Improvements (55 %), Capital Equipment Purchase and Replacement (20 %), Information /Communication Technology (16 %) and Public Buildings and Facilities Improvements (1%). SUMMARY OF MAJOR PROGRAMS The following table presents a summarized breakdown of the costs of the various projects recommended for funding categorized by major function for each of the five (5) years covered by the CIP. Table 1 Program 2014/15 2015/16 2016/17 2017/18 2018/19 TOTAL Beautification & Parks Facilities $ 1819000 $ 8719200 $ 399400 $ 2005000 $ 599850 $ 193519450 Transportation, Drainage & 39588,000 29860,000 933,000 110179000 8669000 992649000 Infrastructure Public Buildings & Facilities 159000.00 309000.00 309000 425000 819000 1989000 Information /Communication 5639600 4799100 5029300 5769900 5349050 216559950 Technology Capital Equipment 6779430 6629910 7329060 6709350 6789750 354219500 Totals $ 550255030 $ 4,903,210 $ 2,236,760 $ 2,506,250 $ 2,219,650 $ 16,890,900 Capital Improvement Program 2014/15 - 2018/19 Capital Summary By Function Equipment Beautification & 20% Parks Facilities 8% 1 Information Technology 16% �i Public Building Transportation, Drainage & 1 % Infrastructure 55% Cap Page 7 City of Aventura SUMMARY OF PROPOSED APPROPRIATIONS BY FUNDING SOURCE The following table reflects the distribution of all proposed projects to the funding source or mechanism, which is appropriate for funding the projects for each of the five (5) years of the program. Table 2 Capital Improvement Program 2014/15 - 2018/19 Summary By funding Source Funding Source 2014115 2015116 2016117 2017118 2018119 TOTAL General $ 111651030 $ 110531710 $ 1,131,760 $ 1,303,250 $ 111781650 $ 518321400 Stormwater Utility 8501000 110401000 2001000 200,000 200,000 214901000 Capital Projects Fund 11330,000 111501000 0 0 0 214801000 Charter School 1421000 1391500 1721000 186,000 175,000 8141500 Transportation Fund 1,538,000 115201000 7331000 8171000 666,000 512741000 $ 510251030 $ 419031210 $ 212361760 $ 215061250 $ 212191650 $ 1618901900 The proposed funding plan involves a commitment to "pay —as- you -go" annual appropriations established in yearly budgets and does not include additional long term debt. Funding Source Summary Stormwater Utility 15% Capital Projects General 15% 34%_ Charter School 5% Transportation Fund 31% Capital Improvement Program 2014 -2019 Page 8 City of Aventura SUMMARY OF PROJECTS BY LOCATION AND YEAR The following outlines the major projects by location and the year they are proposed to be funded: Table 3 Capital Improvement Program 2014/15 - 2018/19 Summary By Location Resurfacing Street Lighting Drainage Park Location Improvements Improvements Founders Park 2014 to 2018 Waterways Park 2014/15 Veterans Park 2017 -2019 NE 29th Place 2014 to 2016 Biscayne Lake Gardens 2014/15 NE 207th Street 2014/15 NE 30th Avenue 2014-2016 NE 188th Street Park 2014 -16 NE 213th Street 2015/16 Yacht Club Drive 2015/16 NE 191St Street 2015/16 NE 27th Avenue 2016/17 NE 28th Court 2016/17 NE 209th Street 2016/17 Yacht Club Drive 2017/18 Mystic Point Drive 2017/18 NE 187th Street 2018/19 NE 185th Street 2018/19 Capital Improvement Program 2014 -2019 Page 9 City of Aventura �F AVF� � �G✓ sp FUNDING PLAN "Opp, Capital Improvement Program 2014 -2019 Page 10 City of Aventura FUNDING PLAN INTRODUCTION In order for a CIP to be an effective management planning tool, the program must include not only a compilation of major capital needs and their costs but also a financing plan for the entire life of the program. This financing plan must include an analysis of the available resources which will be used to fund not only the CIP itself but the required operating expenses and debt service requirements of the City. In order to ensure that the financing plan is complete in every respect, the plan formulation process must include: 1. A projection of revenues and resources which will be available to fund operating and capital expenditures during the life of the CIP. 2. A projection of future years' operating expenditure levels which will be required to provide ongoing services to City residents. 3. Once the CIP projects have been evaluated, a determination is made of the projects to be funded and the timing of the cash outflow for each project. The information is then tabulated to determine the amounts required to fund the CIP for each year. 4. From the information obtained in 1 through 3 above, the additional resources required to fund the CIP will be determined and a decision will be made on whether the program is to be financed by the issuance of debt, on apay -as- you -go basis or some combination of the two (2). The financing plan prepared in such a manner will be as accurate as possible and should be an informative document to all City residents. However, due to the uncertainty involved in projecting operating cost increases, the community's desire for service increases and the inflow of resources over a five -year period, the financing plan presented should be viewed as a theoretical framework to be adjusted each year based on the most recent information available at that time. This will be accomplished by updating the financing plan each year, adopting operating and capital budgets, and ordinances to implement fee structures which will be required to fund the program each year. DEBT VS PAY -AS- YOU -GO FINANCING Debt financing through the issuance of long term bonds is most appropriate when: 1. There are a small number of relatively large dollar value projects. 2. Larger projects cannot be broken into segments and the costs distributed over a longer time frame without impairing the usefulness of the project. Capital Improvement Program 2014 -2019 Page 11 City of Aventura 3. The projects are non - recurring. 4. Assets acquired have a relatively long useful life which equals or exceeds the life of the debt. Through long -term bond financing, the costs of a project having a long useful life can be shared by future residents who will benefit from the projects. In contrast, pay -as- you -go financing is most appropriate for a CIP which includes: 1. A large number of projects having a relatively small dollar value. 2. Projects which can be broken into phases with a portion completed each year without impairing the overall effectiveness of the project. 3. Projects which are of a recurring nature. 4. Projects where the assets acquired will have relatively short useful lives. The primary advantage of pay -as- you -go financing is that the interest costs and costs of bringing a bond issue to market can be avoided. However, if inappropriately used, this financing plan may cause tax rates and fee structures to increase suddenly and may result in current residents paying a greater portion of projects which benefit future residents. In summary, the choice of the appropriate financing plan will be contingent upon an analysis of the projects to be included in a CIP. REQUIRED SEPARATION OF FUNDING SOURCES In order to comply with accepted governmental accounting practices and to ensure compliance with City Codes and any related Bond Indentures, the analysis and financing plan contained herein will be presented within their respective funds. Projects funded on a pay -as- you -go basis will directly relate to the Capital Fund Budget from where the source of funding is derived. Each of these Budgets will appear in the Annual Operating and Capital Improvement Budget, which is adopted each year. Those funds are currently represented as follows: 1. General Fund 2. Transportation and Street Maintenance Fund 3. Charter School Fund 4. Capital Projects Fund 5. Stormwater Utility Fund Capital Improvement Program 2014 -2019 Page 12 City of Aventura In accordance with accounting, legal and internal revenue requirements, all projects to be completed with the proceeds received from the sale of Bonds or loans will be accounted for in a Capital Construction Fund or Stormwater Utility Fund. In addition, capital outlay for the Charter School is included in a separate Budget adopted by the City Commission. SUMMARY OF FINANCING PLAN MODEL Detailed funding plans for individual funds of the City are enclosed herein in the following sections. The following represents an overview of the major points of the recommended funding plan: 1. Utilize "pay -as- you -go" financing through annual appropriations to fund the total five year amount of $16,890,900. No additional debt is recommended. 2. Adjusts property tax revenues based on projected conservative growth in assessments. Capital Improvement Program 2014 -2019 Page 13 City of Aventura PROPOSED FINANCING PLAN GENERAL FUND After evaluating the nature of the various projects that are included in the City's General CIP, it was decided that pay -as- you -go would be most appropriate for funding the program. FINANCING PLAN TABLES Based on this decision, the analysis which follows is aimed at developing a financing plan which will allow the City to fund General Government Services operating expenditures and all projects recommended for funding in the General CIP for each year of the program. Table 1 presents a five -year projection of resources which will be available for General Government Services. Unless shown by an asterisk ( *), the amount projected for each revenue is based on the tax rate or fee structure in effect during the 2013/14 fiscal year. Revenue descriptions followed by an asterisk ( *) were computed based on a projected increase in the rate structure as discussed in the assumption of projections. Table 2 presents a five -year projection of required operating expenses for General Government Services which utilize the cost data as outlined in the assumption of projections. Table 3 is a recap of resources available to fund the General CIP based on projected revenues and expenditures and the proposed Capital Improvement Program appropriations for the five (5) years of the program. Please note that this analysis assumes that all available resources not needed to fund current operating expenditures will be transferred to the CIP Fund and that any balance in the CIP Fund will remain in the CIP. Through this process, the City will be able to accumulate a reserve which would be used to fund unexpected capital outlays or to fund future years' programs. Capital Improvement Program 2014 -2019 Page 14 City of Aventura TABLE 1 PROJECTION OF RESOURCES AVAILABLE FOR GENERAL GOVERNMENT SERVICES 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 CURRENT YEAR REVENUES AVAILABLE FOR GENERAL GOVERMENT SERVICES AD VALOREM TAXES FPL FRANCHISE FEES FRANCHISE FEES UTILITY TAXES SECTION 185 PREMIUM TAX CITY BUSINESS LICENSES TAX BUILDING RELATED REVENUE STATE SHARED REVENUES - UNRESTRICTED HALF CENT SALES TAX CHARGES FOR SERVICES FINES AND FORFEITURES MISC. REVENUES COUNTY BUSINESS TAX TOTAL CURRENT YEAR REVENUES TRANSFERS FROM E911 FUND TRANSFERS FROM SCHOOL FUND TOTAL AVAILABLE $12,812,525 $13,741,716 $14,291,385 $14,791,583 $ 15,309,289 $15,845,114 (a) 2,600,000 2,652,000 2,705,040 2,759,141 2,814,324 2,870,610 (b) 500,000 508,000 523,240 538,937 555,105 571,758 (c) 7,630,000 7,567,000 7,794,010 8,027,830 8,268,665 8,516,725 (d) 268,000 288,000 288,000 288,000 288,000 288,000 840,000 880,000 888,800 897,688 906,665 915,732 (e) 1,501,500 1,653,000 1,653,000 1,603,000 1,553,000 1,000,000 (f) 487,679 552,329 568,899 585,966 603,545 621,651 (g) 2,300,000 2,550,000 2,639,250 2,731,624 2,827,231 2,926,184 (h) 1,970,200 2,120,000 2,194,200 2,270,997 2,350,482 2,432,749 (i) 1,632,000 1,632,000 1,680,960 1,731,389 1,783,330 1,836,830 (j) 166,000 165,000 178,000 178,000 178,000 178,000 45,000 49,000 49,000 49,000 49,000 49,000 $32,752,904 $34,358,045 $35,453,784 $36,453,155 $37,486,635 $38,052,353 30,000 30,000 31,050 32,137 33,262 34,426 - - 30,000 30,000 30,000 30,000 $ 32,782,904 $ 34,388,045 $ 35,514,834 $ 36,515,292 $ 37,549,897 $ 38,116,779 NOTES TO ASSUMPTION OF PROJECTIONS (a) Ad Valorem Tax revenues are estimated to grow at the rate of 7.3% in 2014/15 and then 4% to 3.5% in future years. (b) FPL Franchise Fees from Dade County will grow at the rate of 2% per year. (c) Franchise fees will grow at the rate of 3% per year. (d) Utility taxes will grow at the rate of 3% per year. (e) Business License Tax will grow at the rate of 1.0% per year. (f) Building related revenues will decrease over the 5 year period. (g) State shared revenues will grow at the rate of 3% per year. (h) Half -cent sales tax will grow at the rate 3.5% per year. (i) Charges for services will grow at the rate of 3.5% per year. (j) Fines & forfeitures will grow at the rate of 3% per year. Capital Improvement Program 2014 -2019 Page 15 TABLE 2 PROJECTION OF OPERATING EXPENDITURES FOR GENERAL GOVERNMENT SERVICES DEPARTMENT 2013/14 City Commission $ 124,140 $ Office of the City Manager 787,104 Legal 270,000 City Clerk 281,731 Finance 957,677 Information Technology 932,834 Public Safety 16,819,878 Arts & Cultural Center 693,793 Community Development 1,889,105 Community Services 4,295,798 Non - Departmental 1,500,200 TOTAL PROJECTED OPERATING EXPENDITURES 991,411 GENERAL GOVERNMENTAL SERVICES $ 28,552,260 $ City of Aventura 2014/15 2015/16 2016/17 2017/18 2018/19 125,339 $ 127,846 $ 131,681 $ 135,632 $ 139,701 810,506 842,926 876,643 911,709 948,177 270,000 270,000 270,000 270,000 270,000 313,689 349,373 366,842 402,521 430,698 991,411 1,040,982 1,093,031 1,147,682 1,205,066 972,580 1,016,346 1,067,163 1,120,522 1,176,548 17,467,503 18,340,878 19,074,513 19,932,866 20,829,845 726,900 759,611 793,793 829,514 866,842 2,108,160 2,171,405 2,204,975 2,265,224 2,255,833 4,482,158 4,661,444 4,847,902 5,041,818 5,243,491 1,469,000 1,498,380 1,528,348 1,558,915 1,590,093 29,737,246 $ 31,079,191 $ 32,254,892 $ 33,616,402 $ 34,956,293 TOTAL PROJECTED DEBT SERVICE REQUIREMENTS 2,221,190 2,212,045 2,220,979 2,220,979 2,220,979 2,220,979 Transfers TOTAL PROJECTED EXPENDITURES $ 30,773,450 $ 31,949,291 $ 33,300,170 $ 34,475,871 $ 35,837,381 $ 37,177,272 NOTES TO ASSUMPTION OF PROJECTIONS Operating expenditures are projected to increase 4% to 4.2 each year. Capital Improvement Program 2014 -2019 Page 16 City of Aventura TABLE 3 RECAP OF AVAILABLE RESOURCES vs PROPOSED APPROPRIATIONS GENERAL FUND CAPITAL IMPROVEMENT PROGRAM 2014/15 2015/16 2016/17 2017/18 2018/19 TOTAL PROJECTED AVAILABLE RESOURCES PROJECTED OPERATING EXPENDITURES DEBT SERVICE REQUIREMENTS SUBTOTAL - EXPENDITURES BALANCE AFTER OPERATING COSTS LESS CIP APPROPRIATIONS BALANCE AMOUNT NEEDED FROM CIP RESERVE OR NEW REVENUES $34,388,045 29, 737, 246 2,212,045 $35,514,834 31, 079,191 2,220,979 $36,515,292 32, 254, 892 2,220,979 $37,549,897 33, 616,402 2,220,979 $38,116,779 34, 956, 293 2,220,979 31, 949, 291 2,438,754 1,165,030 33, 300,170 2,214,664 1,053,710 34, 475, 871 2,039,421 1,131,760 35, 837, 381 1,712,516 1,303,250 37,177, 272 939,506 1,178,650 $ 1,273,724 $ 1,160,954 $ 907,661 $ 409,266 $ (239,144) $ - $ - $ - $ - $ (239,144) $45,000,000 $40,0001000 - mmorw $35,000,000 - $30,0001000 - $25,000,000 - $20,0001000 Revenues $15,000,000 Expenditures $10.,0001000 - CIP $5,000,000 I $0 2014/15 2015/16 2016/17 2017/18 2018/19 Capital Improvement Program 2014 -2019 Page 17 City of Aventura PROPOSED FINANCING PLAN TRANSPORTATION FUND This fund was established to account for restricted revenues and expenditures which by State Statute and County Transit System Surtax Ordinance are designated for transportation enhancements, street maintenance and construction costs. This table reflects the anticipated revenues available and the proposed appropriations. TABLE 4 TRANSPORTATION AND STREET MAINTENANCE FUND RECAP OF AVAILABLE RESOURCES AND PROPOSED APPROPRIATIONS SUMMARY BY YEAR REVENUES LOCAL OPTION GAS TAX INTEREST EARNINGS STATE SHARED REVENUES- RESTRICTED CARRYOVER COUNTY TRANSIT SYSTEM SURTAX TOTAL REVENUES EXPENDITURES Maintenance Operating Expenditures Transit Services TOTAL EXPENDITURES Total For Capital CAPITAL EXPENDITURES 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 $ 505,000 $ 5059000 $ 5179625 $ 5309566 $ 543,830 $ 5445000 500 21000 21000 21000 21000 11000 170,000 1709000 $ 1749250 $ 1783606 $ 1833071 $ 1843000 135863617 133583815 6853315 333805 1723566 2293822 130503000 130503000 130763250 131033156 1,130, 735 1,131, 000 $3,312,117 $3,085,815 $2,455,440 $ 11848,133 $2,032,202 $2,089,822 $ 450,000 $ 463,500 $ 486,675 $ 511,009 $ 536,559 $ 563,387 375,000 399,000 414,960 431,558 448,821 4663774 $ 825,000 $ 8623500 $ 9013635 $ 9423567 $ 9853380 $1,030,161 2, 487,117 232233315 135533805 9053566 11046,822 13059,662 I Project Title 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 Street Lighting TVMS Road Resurfacing Program TOTAL CAPITAL EXPENDITURES Reserves $ 100,000 $ 2283000 $ 2503000 $ 4003000 $ 400,000 $ 400,000 - 300,000 - - - - 978,302 190109000 192709000 3333000 4173000 2663000 $130783302 $135383000 $135203000 $ 7333000 $ 8173000 $ 6663000 $133583815 $ 6853315 $ 333805 $ 1723566 $ 2293822 $ 3933662 Capital Improvement Program 2014 -2019 Page 18 City of Aventura PROPOSED FINANCING PLAN STORMWATER UTILITY FUND The City is responsible for stormwater management activities within its corporate boundaries. In order to address deficiencies and develop an ongoing maintenance program, a Stormwater Utility Fund was created. The Fund generates revenues for stormwater management costs, permitting, maintenance and capital improvements from a source other than the General Fund, gas taxes or ad valorem taxes. The Utility relies on user fees charged to residents and businesses for generating revenues. Table 5 reflects the anticipated revenues available and the proposed appropriations for the Stormwater Utility Fund for the five -year period. A total of $2,490,000 worth of stormwater drainage projects will be completed during the five -year period. The monthly rate charged to users per unit was $2.50 for 2013/14. It is not recommended that the fee be increased during the next five (5) years. TABLE 5 RECAP OF AVAILABLE RESOURCES vs PROPOSED APPROPRIATIONS STORMWATER UTILITY FUND 2013114 2014115 2015116 2016117 2017118 2018119 Revenues: Stormwater Utility Billings (1) $850,000 $867,000 $884,340 $902,027 $920,067 $938,469 State Grant - 425,000 - - - - Carry Over of Surplus - 880,000 1,215,600 481,284 581,509 675,702 $ 850,000 $ 2,1721000 $ 2,0991940 $ 1,3831311 $ 11501,576 $ 11614,170 Operating Expenses: (2) 535,000 556,400 578,656 601,802 625,874 650,909 Available for CIP & Debt Service $ 315,000 $ 1,6151600 $ 1,5211284 $ 781,509 $ 875,702 $ 963,261 Annual CIP Expenditures: 200,000 850,000 11040,000 200,000 200,000 200,000 Annual Surplust(Deficit): $ 115,000 $ 765,600 $ 4815284 $ 5815509 $ 675,702 $ 7635261 NOTES TO ASSUMPTION OF PROJECTIONS (1) Projected to remain flat. (2) Includes Operation and Maintenance, Engineering, Administration, Review of Existing Account Data Costs. Capital Improvement Program 2014 -2019 Page 19 City of Aventura PROPOSED FINANCING PLAN CAPITAL PROJECTS FUND This fund was established to account for restricted impact fees or other revenues and which by Ordinance or Commission Policy are designated for police and parks capital improvements. This table reflects the anticipated revenues available and the proposed appropriations. TABLE 6 CAPITAL PROJECTS FUND RECAP OF AVAILABLE RESOURCES AND PROPOSED APPROPRIATIONS SUMMARY BY YEAR 2013114 2014115 2015116 2016117 2017118 2018119 REVENUES Police Impact Fees Park Impact Fees Land Sale Proceeds Developer Contributions Carryover Police TVMS Carryover - Parks Impact Fees Carryover - Police Impact Fees TOTAL REVENUES POLICE CAPITAL EXPENDITURES Police Equipment TVMS Police Reserves TOTAL EXPENDITURES PARKS CAPITAL EXPENDITURES Park Reserves Founders Park Improvements Waterways Park Improvements Waterways Dog Park Improvements Veterans Park Improvemnets NE 188th Street Park Improvements TOTAL EXPENDITURES TOTAL CAPITAL EXPENDITURES $ 79500 $ 79500 $ 79500 $ 79500 79500 79500 - - 150009000 - - - - - - 7509000 - - - - - 450,000 300,000 - - - - 11045,933 923,433 - - - - 19,891 27,391 35,000 - - $1,015,000 $2,280,824 $1,265,824 $ 35,000 - - 1520%000 3009000 - - - - 275391 349891 $ 359000 - - - $15227,391 $ 334,891 $ 35,000 - - 780,000 923,433 80,933 - - 175,000 - - - - 10,000 - - - - 30,000 - - - - 20,000 - - - - - - 130,000 850,000 - - 11015,000 11053,433 930,933 - - - $1,015,000 $2,280,824 $1, 265, 824 $ 35,000 Capital Improvement Program 2014 -2019 Page 20 City of Aventura � lii � 1 rri■ I f f k f EX PROJECT DESCRIPTIONS Capital Improvement Program 2014 -2019 Page 21 City of Aventura BEAUTIFICATION AND PARK FACILITIES IMPROVEMENTS This section includes beautification projects and improvements to the City's park system and recreational facilities. There are six (6) projects in the CIP, which total $1,351,450. Special emphasis was given to upgrading existing park facilities. I Policies The City's investment in improvements to the City park system is based on the following policies: Goal: Provide adequate and accessible parks and facilities to meet the recreational needs of all current and future residents. • Provide a variety of quality recreation facilities that will meet the needs of all age groups within the City and enhance the overall environmental characteristics of the area. • Maximize the utilization of all public facilities through the provision of variety in the type of facility offered. • Provide exercise /walking paths to enhance the physical well being of I residents. Provide recreational facilities on the basis of 2.75 acres per 1,000 population. • Encourage the integration of recreational facilities into the development of residential, commercial, industrial, and open space land uses. � Goal: Update the five -year CIP on an annual basis. • Provide parks whereby residents have access to neighborhood parks within a 2 mile radius and community parks which serve the entire City. � Goal: Increase Safety Standards Provide for adequate security measure including limited access facilities. • Replace dangerous equipment and eliminate visual barriers to reduce criminal opportunities. Employ vandal- resistant equipment and facilities. • Maintain a Parks Usage Plan to protect the City's investment in the park system and insure the residents' safety. Capital Improvement Program 2014 -2019 Page 22 City of Aventura Goal: Protect and preserve environmentally sensitive land and water areas. Preserve and enhance open space with environmental impact. Existing Facilities There is 32 acres of open space and public park land in the City. Aventura Founders Park was opened in November 1998. This 11 acre site located on West Country Club Drive and NE 190th Street includes both active and passive recreational opportunities. The park encompasses the following components: Splash pad, Jogging Path, tennis courts, gated entries, One ball field w/ dugouts and backstops, Restroom Buildings, Decorative Fencing, Playground, picnic area, passive play areas, baywalk, landscaping, two parking lots, multi - purpose plaza areas, signage, benches, and security lighting. Don Soffer Exercise /Walking Path contains 5.5 acres that is classified as open space recreation area. This facility is used by residents for both recreational and exercise purposes. Waterways Dog Park was acquired by the City in 1998 from a private developer. This 1.5 acre site was previously constructed by a private developer. The City converted this site to a dog park in 2008. Waterways Park was purchased in 2006. The 7 acre site that includes a multipurpose sports field, playground, basketball court, fitness trail, parking and restroom facilities was opened in 2008. Arthur I Snyder Memorial Park was purchased in 1998. This 3.5 acre site was one of the last remaining waterfront undeveloped parcels in the City. This site contains the Community /Recreation Center. Open passive and sitting areas are available at this location. Veterans Park was acquired by the City from a private developer in 2001. This 2 acre site is located on NE 31St Avenue. Facilities and amenities include: parking lot; 1.5 acre open playfield area; playground facilities; restroom facilities and landscaping with shade trees. This park was modified in 2008 by removing the dog play area and expanding the children's play area and adding a restroom facility. Prior Accomplishments The following projects have been completed or are scheduled for completion as of the 2013/14 fiscal year: Protect Title Year Conceptual Design of Aventura Founders Park 1996/97 Design of Country Club Drive Exercise Safety Improvements 1996/97 Capital Improvement Program 2014 -2019 Page 23 City of Aventura Purchase of 5.5 acres for Aventura Founders Park 1996/97 Bus Shelter & Bench Replacements 1996/977 1997/987 1998/99 1999/007 2000/017 2001/02 2005/06 Aventura Blvd Beautification Improvements 1997/98 Northern Entrance Beautification Improvements 1997/98 Aventura Founders Park Development 1997/98 Country Club Drive Exercise /Walking Path Improvements 1997/98 NE 183rd Street Beautification Improvements 1997/98 NE 34th Avenue Beautification Improvements 1997/98 Library Landscaping Project 1997/98 Huber Tract Open Space Land Purchase 1998/99 NE 207th Street Beautification Improvements 1998/99 Country Club Dr. Exercise Path Safety Improvements 1998/997 2004/057 2009/10 NE 190th Street Beautification Improvements 1998/99 Biscayne Boulevard Phase I Beautification Improvements 1998/99 FEC Landscape Buffer 1998/99 NE 191St Street Beautification Improvements 1998/99 Waterways Park Improvements 1999/00 Founders Park Improvements 1999/007 2001/027 2002/03 2003/047 2005/067 2010/11 2013/14 Biscayne Boulevard Phase II Beautification Improvements 1999/00 NE 185th Street & NE 28th Ave Beautification Improvements 1999/00 NE 213th Street Beautification Improvements 2001/02 Aventura Blvd. Entrance Features 2001/02 Community /Recreation Center Conceptual Design 2000/01 Community Recreation Center Development 2001/02 Expanded Waterways Park Purchase 2003/04 Biscayne Boulevard Phase II Beautification Improvements 2001/02 Country Club Drive Beautification Improvements 2002/03 Newspaper Racks 2002/037 2003/04 NE 188th Street Beautification Improvements 2002/03 Yacht Club Way Beautification Improvements 2003/04 William Lehman Causeway Beautification Improvements 2003/047 2004/05 Veterans Park Development 2003/04 Waterways Park Design 2005/06 Founders Park Parking Lot Expansion 2005/06 NE 207th Street Swale Beautification Improvements 2005/06 Waterways Park Development 2006/077 2007/08 Splashpad Addition to Founders Park 2006/07 Miami Gardens Drive Beautification Improvements 2006/07 Waterways Dog Park Development 2007/08 Veterans Park Modifications & Improvements 2007/087 2013/14 Entrance Features Upgrades 2010/11 Waterways Park Improvements 2013/14 Capital Improvement Program 2014 -2019 Page 24 City of Aventura Park Facilities /Open Space Recreation The City's estimated current population is 37,239. The City's Comprehensive Plan recommended standard is 2.75 acres of park and recreation land for every 1,000 potential residents. The amount of park and recreation land required by the park standards for this population is 102 acres. In calculating the number of recreation acres the City has available for use by residents, public private, golf courses and marinas are accounted for at a different degree depending on accessibility to citizens of the City. Assuming that public facilities can be accounted for at 100 %, private recreation facilities at 50 %, and marinas and the golf course at 25 %, the City existing and proposed recreation areas total 117. Therefore, no deficiency exists under the City's standards. Table PFOS1 contains an inventory of existing and proposed recreation and open space areas. The City owns 32 park /open space acres. Table PFOS 1 CITY OF AVENTURA Recreation /Open Space Inventory TYPE FACILITY ACRES Public Recreation Areas C Don Soffer Exercise /Walking path 5.5 C Arthur I Snyder Memorial Park 3.5 N Veterans Park 2.0 N Waterways Park 7.0 N Waterways Dog Park 1.5 N NE 188th Street 1.5 N Aventura Founders Park 11.0 APPLICABLE ACRES 5.5 3.5 2.0 7.0 1.5 1.5 11.0 Public Recreation Subtotal 32.0 32.0 Private Recreation Areas Private Recreation Sites 63.61 Marina Complexes 9.40 Golf Courses 203.17 Private Recreation Subtotal 276.18 Total Recreation Areas 306.68 C = Community Park N = Neighborhood Park Funding Plan 31.81 2.35 50.79 84.95 116.95 Funding for the proposed beautification and park facilities will be provided by the proceeds from the following revenue sources: Total Category Budget $1,351,450 Capital Improvement Program 2014 -2019 Page 25 City of Aventura Funding: General Fund $371,500 Capital Projects Fund 9807000 Capital Improvement Program 2014 -2019 Page 26 City of Aventura TABLE 1 PROPOSED BEAUTIFICATION AND PARK FACILITIES IMPROVEMENTS PROJECTS SCHEDULED FOR 2014/15 - 2018/19 SUMMARY BY YEAR BPI Founders Park Improvements CS $ 28,000 $ 12,000 $ 30,000 $ 30,000 $ 35,000 $ 135,000 BP2 Waterways Park Improvements CS 14,000 - - - - 14,000 BP3 Veterans Park Improvements CS - - - 150,000 4,500 154,500 BP4 NE 188th Street Park Improvements CS 130,000 850,000 - - - 980,000 BP5 Exercise Trail Improvements CS - - - 10,400 10,600 21,000 BP6 City -wide Beautification Improvements CS 9,000 9,200 9,400 9,600 9,750 46,950 Totals $ 181,000 $ 871,200 $ 39,400 $ 200,000 $ 59,850 $ 1,351,450 TABLE 2 PROPOSED BEAUTIFICATION AND PARK FACILITIES IMPROVEMENTS PROJECTS SCHEDULED FOR 2014/15 - 2018/19 FUNDING PLAN 0, Project Title A -F� Dep EML Capital General Now Projects Fund-,, BPI Founders Park Improvements CS $ 135,000 $ - $ 135,000 BP2 Waterways Park Improvements CS 14,000 - 14,000 BP3 Veterans Park Improvements CS 154,500 - 154,500 BP4 NE 188th Street Park Improvements CS 980,000 980,000 - BP5 Exercise Trail Improvements CS 21,000 - 21,000 BP6 City -wide Beautification Improvements CS 46,950 - 46,950 Totals 1,351,450 $ 980,000 $ 371,450 Capital Improvement Program 2014 -2019 Page 27 City of Aventura PROPOSED PROJECTS 1 — CS Founders Park Improvements 2014/15 $28,000 2015/16 $12,000 2016/17 $30,000 2017/18 $30,000 2018/19 $35,000 This project consists of maintenance projects which replace and update equipment as well as enhancements to the existing features. 2014/15 Replace SplashPad Water Features 287000 2015/16 Replace Office and Welcome Center Furniture 127000 2016/17 Replace SplashPad Water Features 307000 2017/18 Replace SplashPad Water Features 307000 2018/19 Replace Sunpad Furniture 237000 Replace SpalshPad Pumps 12,000 2 -CS Waterways Park Improvements 2014/15 $14,000 This project consists of the following maintenance project. 2014/15 Replace Shade structure at Playground Area 147000 3 -CS Veterans Park Improvements 2017/18 $150,000 2018/19 $4,500 IThis project consists of maintenance projects which replace and update equipment as I well as enhancements to the existing features. 2017/18 Replace Playground Equipment 1507000 2018/19 Replace Playground Equipment 47500 Capital Improvement Program 2014 -2019 Page 28 City of Aventura NE 188t" Street Park Improvements 2014/15 $130,000 2015/16 $850,000 This project consists of developing the 1.5 acre parcel on NE 188t" Street into practice fields for ACES and additional park amenities based on input from the area residents. Parking for 16 parking spaces. 5 -CS Exercise Trail Improvements 2017/18 $10,400 2018/19 $10,600 This project consists of replacing and upgrading chilled water fountains as follows: 2017/18 Replace 2 Water Fountains 107400 2018/19 Replace 2 Water Fountains 107600 6 -CS City -Wide Beautification Improvements 2014/15 $9,000 2015/16 $9,200 2016/17 $9,400 2017/18 $9,600 2018/19 $9,750 This project consists of replacing aging street furniture that is no longer useful. 12014/15 Purchase Trash Cans and Benches 97000 12015/16 Purchase Trash Cans and Benches 97200 12016/17 Purchase Trash Cans and Benches 97400 12017/18 Purchase Trash Cans and Benches 97600 12018/19 Purchase Trash Cans and Benches 97750 Capital Improvement Program 2014 -2019 Page 29 City of Aventura I TRANSPORTATION, DRAINAGE AND INFRASTRUCTURE I IMPROVEMENTS This section includes improvements to the City's transportation system, roadways, drainage system, sidewalks, pedestrian pathways, street lighting, transit and other infrastructure improvements. There are four (4) improvement projects in the Capital Improvement Program, which total $9,264,000. Special emphasis was given to improving traffic flow, street lighting, correcting drainage deficiencies and road resurfacing and addressing maintenance considerations. The projects outlined in this section have been developed based on a survey of all areas of the City, with respect to the improvement items, by the Community Services Department; City's consulting engineer and staff. The projects were prioritized according to the urgency of the improvements needed and age of the areas to be improved. Policies The City's investment in improvements to its transportation system, roads, sidewalks, street lighting and drainage system is based on the following policies: Goal: Utilize the Stormwater Utility Fund to provide revenue sources to fund drainage improvements contained in the CIP. • Coordinate area -wide storm water developments with major street improvements. • Provide adequate storm drainage as defined by present standards for different types of areas of the City. • Upgrade areas of the City to conform to present drainage standards to eliminate flood prone areas. Goal: Improve local roads to meet road safety requirements and serve the transportation needs of the City. • Systematically provide local street improvements throughout the City based upon the existing condition and age of the street and the cost of maintenance of the street. • Provide an adequate road transportation network that meets or exceeds the capacity rating outlined in the Comprehensive Plan. Implement improvements to meet safety standards. Improve safety by installing street lighting on all appropriate public roadways. • Provide walkways and sidewalks to improve the safety of residents traveling throughout the City. Capital Improvement Program 2014 -2019 Page 30 City of Aventura • Accept the dedication of private roads throughout the City in accordance with the Policy governing the conversion of private roads to public roads as outlined in Resolution No. 97 -05. Goal: Address traffic flow along the major roadways and intersections by implementing projects that create improvements to the system. • Implement the recommendations of the City's Traffic Advisory board and its Traffic consultant. Existing Facilities The following is a list of current public roads under the jurisdiction of the City NE 185th Street NE 27th Court NE 28th Place NE 28th Avenue NE 29th Avenue NE 29th Court NE 29th Place NE 30th Avenue NE 34th Avenue NE 187th Street NE 188th Street NE 190th Street NE 191St Street NE 192nd Street NE 193rd Street Aventura Boulevard West Country Club Drive North Country Club Drive East Country Club Drive NE 201 Terrace NE 203rd Street NE 205th Street NE 206th Street NE 207th Street NE 208th Street NE 208th Terrace N E 209th Street NE 211 th Street NE 213th Street NE 214th Terrace NE 214th Street NE 183rd Street Yacht Club Drive Turnberry Way NE 27th Court Prior Accomplishments Since the inception of the CIP, the following projects have been completed or are scheduled for completion as of the 2013/14 fiscal year: Proiect Title Year Country Club Drive Drainage Improvements 1996/97 Sidewalk Installation — Southside of Lehman Causeway 1996/97 Pedestrian Safety Study 1996/97 Aventura Boulevard Street Lighting Improvements 1997/98 NE 183rd Street & Drainage Improvements 1997/98 N E 183rd Street Lighting Improvements 1997/98 NE 207th Street Lighting Improvements 1997/98 North Aventura Stormwater Collector (213th Street) 1997/98 Pedestrian Transportation Circulation Safety Improvements 1997/98 Capital Improvement Program 2014 -2019 Page 31 City of Aventura NE 190th Street Lighting Improvements 1998/99 South Aventura Stormwater Collector 1998/99 Sidewalk Improvements & Replacements 1998/997 1999/007 2000/01 NE 34th avenue Street Lighting Improvements 1999/00 NE 185th Street & NE 28th Avenue Improvements 1999/00 Safety Improvements — Country Club Drive 1999/00 NE 30th Avenue Drainage Improvements 2000/01 NE 213th Street Lighting Improvements 2000/01 NE 34th Avenue Safety /Road Improvements 2000/01 Biscayne Lake Gardens Area Drainage Improvements 2001/02 NE 188th Street, Lighting & Drainage Improvements 2002/03 Country Club Drive Improvements 2002/037 2012/137 2013/14 NE 190TH Street Drainage Improvements 2002/03 Yacht Club way Drainage and Lighting Improvements 2003/04 NE 31 St Avenue Decorative Street Lighting 2003/04 Extension of Lehman Causeway Westbound Service Road 2003/04 Illuminated Street Signs 2003/04 Hospital District NE 213TH Street Drainage Connector 2003/04 Hospital District North Collector 2004/05 NE 207th Street Resurfacing 2004/05 Traffic Video Monitoring Program 2004/057 2005/06 Directional Signs 2004/05 Yacht Club Drive Seawall Improvements 2005/06 Miami Gardens Drive 2005/06 Aventura Boulevard Resurfacing 2005/06 NE 213th Street Outfall Drainage Improvement 2006/07 Miami Gardens Drive Extension and Street Lighting 2006/07 Ne 29th Avenue Street Lighting Improvements 2006/07 Yacht Club Drive Resurfacing 2006/07 Countdown Pedestrian Walkway Signals 2006/07 Traffic Video Monitoring Program — Phase 1 2006/07 Traffic Video Monitoring Program — Phase II 2007/08 NE 29th Pace and Yacht Club Way Resurfacing 2007/08 NE 190th Street Drainage Improvements 2007/08 NE 209th Street /Biscayne Boulevard Traffic Improvements 2007/08 NE 187th Street Traffic Improvements 2007/08 NE 180th & NE 182nd Street /Biscay Boulevard Signage 2007/08 NE 199th Street /West Country Club Drive Turning Lane 2008/09 NE 190th Street Resurfacing 2008/09 NE 191 St Street /Biscayne Boulevard Traffic Improvements 2008/09 NE 191 St /29th Avenue Drainage Improvements 2008/09 Hospital District Resurfacing 2009/10 NE 183rd Street Resurfacing & Road Improvements 2009/10 Yacht Club Way Bridge Improvements 2009/10 Country Club Drive Bus Shelters 2010/11 NE 29th Avenue and NE 187th Street Resurfacing 2010/11 Capital Improvement Program 2014 -2019 Page 32 City of Aventura NE 34th Avenue Street Resurfacing 2010/11 Biscayne Boulevard Street Light Upgrades Phase 1 2010/11 Biscayne Boulevard Street Light Upgrades Phase 2 2011/12 NE 185th/NE 31 th Avenue, NE 188th Street and NE 191 Street Resurfacing 2011/12 Biscayne Boulevard Street Light Upgrades Phase 3 2012/13 Traffic Signal @ NE 185th Street & NE 28th Court 2012/13 Turning Lane at N. Country Club Drive and NE 34th Avenue 2012/13 Biscayne Boulevard Street Light Upgrades Phase 4 2013/14 Traffic Flow Improvements NE 185th Street 2013/14 Road, Drainage and Infrastructure Improvements The majority of the projects outlined herein can be also be classified as drainage improvements and road resurfacing in accordance with established maintenance schedules. Funding Plan Funding for the proposed roadway, drainage and infrastructure improvement projects will be provided by the following sources: Total Category Budget $9,264,000 Funding: Transportation Fund $5,274,000 Stormwater Utility Fund 274907000 Capital Projects Fund 175007000 Tables 1 and 2 showing these improvement projects and funding schedules are followed by detailed project descriptions. Capital Improvement Program 2014 -2019 Page 33 City of Aventura TABLE 1 PROPOSED TRANSPORTATION, DRAINAGE AND INFRASTRUCTURE IMPROVEMENTS PROJECTS SCHEDULED FOR 2014/15 - 2018/19 SUMMARY BY YEAR Project De pt # 2014/15 i 2017/18 2018/19 Tota I TD11 Stormwater Drainage Improvements CS $ 850,000 $ 1,040,000 $ 200,000 $ 200,000 $ 200,000 $ 2,490,000 TD12 Road Resurfacing Program CS 1,010,000 1,270,000 333,000 417,000 266,000 3,296,000 TD13 TVMS Upgrade CS 1,500,000 300,000 - - - 1,800,000 TD14 Street Lighting Improvements CS 228,000 250,000 400,000 400,000 400,000 1,678,000 Totals $ 3,588,000 $ 2,860,000 $ 933,000 $ 1,017,000 $ 866,000 $ 9,264,000 TABLE 2 PROPOSED TRANSPORTATION, DRAINAGE AND INFRASTRUCTURE IMPROVEMENTS PROJECTS SCHEDULED FOR 2014/15 - 2018/19 FUNDING PLAN CIP # Project Title Dept. # TD11 Stormwater Drainage Improvements CS $ 2,490,000 $ 2,490,000 $ - $ - $ - TD12 Road Resurfacing Program CS 3,296,000 - - 3,296,000 - TD13 TVMS Upgrade CS 1,800,000 - - 300,000 1,500,000 TD14 Street Lighting Improvements CS 1,678,000 - - 1,678,000 - Totals $ 9,264,000 $ 2,490,000 $ - $ 5,274,000 $ 1,500,000 Capital Improvement Program 2014 -2019 Page 34 City of Aventura PROPOSED PROJECTS 1 -CS Stormwater Drainage Improvements 2014/15 $850,000 2015/16 $1,040,000 2016/17 $200,000 2017/18 $200,000 2018/19 $200,000 IProjects included provide for ongoing annual minor drainage improvements and include I the cost of resurfacing the affected roadways. 1 2014/15 NE 29 Place Phase I (North) NE 29 Place Phase II (South) 2015/16 NE 213th Street and NE 183rd Street Seawall NE 191St Improvements 2016/17 Drainage Improvements NE 188t" Street and NE 190t" Street Seawall Improvements 12017/18 Drainage Improvements 5007000 3507000 3907000 6507000 1407000 •1 111' 2007000 2018/19 Replace Country Club Drive Pump Station 957000 Drainage Improvements 1057000 2 -CS Road Resurfacing Program 2014/15 $170107000 2015/16 $172707000 2016/17 $3337000 2017/18 $4177000 2018/19 $2667000 IThis project consists of resurfacing roadways as determined by the City's maintenance I standards and the Community Services Department. 2014/15 Biscayne Lake Gardens 1457000 (NE 29t" Ct. , 201 t" Terr, & 27t" Ct. ) NE 207t" Street 5657000 NE 29 Place Phase I (North) 3007000 2015/16 NE 213th Street 3357000 NE 29 Place Phase 11 (South) 4707000 Yacht Club Way Bridge Repairs 2157000 NE 191St Street 2507000 Capital Improvement Program 2014 -2019 Page 35 City of Aventura 2016/17 NE 27th Avenue 587000 NE 28th Court between 185 and 187 Streets 537000 NE 30th Avenue 1687000 N E 209th Street 547000 2017/18 Yacht Club Drive 2457000 Mystic Point Drive 1727000 2018/19 NE 187th Street 1457000 NE 185th Street 1217000 3 -CS Traffic Video Monitoring System 2014/15 $1,500,000 2015/16 $300,000 This project consists of upgrading the 10 year old TVMS equipment to state of art technology and expanding service by adding cameras at two location in the southern portion of the City. The TVMS program utilizes cameras at key intersections to allow for the Police Department to monitor and respond to traffic conditions. 4 -CS Streetlight Improvements 2014/15 $228,000 2015/16 $250,000 2016/17 $400,000 2017/18 $400,000 2018/19 $400,000 2014/15 Plan Design for Street Lights on NE 30t" Ave between NE 203t" Street and NE 207t" Street $50,000 NE 29 Place Street Lights Phase II (South) 1787000 2015/16 Construction of Street Lights on NE 30t" Ave between NE 203t" Street and NE 207 Street 2507000 12016/17 Retrofit Street Lighting with LED fixtures 4007000 12017/18 Retrofit Street Lighting with LED fixtures 4007000 12018/19 Retrofit Street Lighting with LED fixtures 4007000 Capital Improvement Program 2014 -2019 Page 36 City of Aventura I PUBLIC BUILDINGS AND FACILITIES IMPROVEMENTS I Capital projects in this functional category include providing new facilities to serve City residents or improvements to existing facilities in the City. The CIP includes 3 projects totaling $198,000. PnIicips The City's investment in improvements to public buildings and operational facilities is based on the following policies: • Provide easily accessible services to City residents and adequate parking for City facilities. • Repair and maintain all buildings and facilities in proper order to increase life of said facilities. Existing Facilities Map 1 shows the location of the City's Government Center, and the Dade County Fire Rescue Station and Library Branch. Prior Accomplishments The following projects have been completed or are scheduled for completion as of the 2013/14 fiscal year: Proiect Title Government Center /Police Station Needs Assessment Study Government Center Land Purchase Design of Government Center /Police Construction of Government Center Purchase of Charter Elementary School Property Construction of Charter Elementary School Community Center Improvements Construction of Middle School Wing to Charter School Holiday Lighting for Government Center Design of Arts & Cultural Center Classroom Additions to Charter School Arts & Cultural Center Construction Government Center Chiller Replacements Police Department Office Improvement Government Center Security Equipment Upgrade Government Center Commission Chambers Video Upgrade Government Center Parking Expansion Design Government Center Parking Garage Year 1996/97 1997/98 1997/98 1999/007 2000/01 2001/02 2002/03 2003/047 2004/057 2006/077 2007/08 2004/05 2005/06 2007/08 2008/09 2008/097 2009/10 2009/10 2009/10 2010/11 2010/11 2011/12 2012/13 Capital Improvement Program 2014 -2019 Page 37 City of Aventura Funding Plan Funding for the proposed Public Buildings Projects will be provided by the following sources: Total Category Budget $198,000 Funding: General Fund Charter School Fund $1067000 927000 Capital Improvement Program 2014 -2019 Page 38 PROPOSED PUBLIC BUILDING AND FACILITIES IMPROVEMENTS PROJECTS SCHEDULED FOR 2014/15 - 2018/19 SUMMARY BY YEAR PBF1 HVAC Replacements CS PBF2 Community Recreation Center Improvements CS PBF3 Police Communications Center Improvements PD Totals City of Aventura 2014/16 2016/16 2016/17 2017/18 2018/19 $ 30,000 $ 30,000 $ 42,000 $ 50,000 $ 152,000 - - - - 31,000 31,000 15,000 - - - - 15,000 $ 15,000 $ 30,000 $ 30,000 $ 42,000 $ 81,000 $ 198,000 TABLE 2 PROPOSED PUBLIC BUILDING AND FACILITIES IMPROVEMENTS PROJECTS SCHEDULED FOR 2014/15 - 2018/19 FUNDING PLAN Charter Genera CIP • Project Title Dept. i PBF1 HVAC Replacements CS $ 152,000 $ 92,000 $ 60,000 PBF2 Community Recreation Center Improvements CS 31,000 - 31,000 PBF3 Police Communications Center Improvements PD 15,000 - 15,000 Totals $ 198,000 $ 92,000 $ 106,000 Capital Improvement Program 2014 -2019 Page 39 City of Aventura PROPOSED PROJECTS 1 — CS HVAC Replacements 2015/16 $30,000 2016/17 $30,000 2017/18 $42,000 2018/19 $50,000 This project consists of replacing the air conditioning units at various City facilities. 2015/16 Replace 20 ton HVAC at Community Recreation Center $30,000 2016/17 Replace 20 ton HVAC at ACES $30,000 12017/18 Replace 30 ton HVAC at ACES $42,000 2018/19 Replace 12 ton HVAC at Community Recreation Center $30,000 Replace 2 8 -ton HVAC at ACES 20,000 2 —CS Community Recreation Center Improvements 2018/19 $31,000 2018/19 Replace Gym Bleachers, Wall Padding and Curtain. 3 —PD Police Communication Center Improvements 2014/15 $15,000 12014/15 Replace carpeting tiles in the Communication Center and EOC. Capital Improvement Program 2014 -2019 Page 40 City of Aventura INFORMATION /COMMUNICATIONS TECHNOLOGY This functional category includes improvements to the City's information /communication systems, data processing and the automation of certain operations by utilizing the latest technology to enhance productivity and efficiency. There are 12 projects totaling $276557950. � Policies The City's investment in communication and computer projects is based on the following policies: • Continue the implementation upgrade of the Management Information System for all key City operations to automate functions and improve efficiency and productivity. • Improve and maintain City -wide radio communications capabilities for Police operations. • Develop and maintain computerized capabilities of the various City departments and information systems. • Utilize the latest state -of- the -art technology including the use of the Internet for the delivery of services. Maintain the E911 system to enhance police response times to emergencies. • Utilize the latest technology for education and teaching at the Charter School. Funding Plan Funding for the proposed Information Technology Projects will be provided by the following sources: Total Category Budget $2,655,950 Funding: General Fund Charter School Fund $179337450 7227500 Capital Improvement Program 2014 -2019 Page 41 ICT1 ICT2 ICT3 ICT4 ICT5 ICT6 ICT7 ICT8 ICT9 ICT10 ICT11 ICT12 ICT1 ICT2 ICT3 ICT4 ICT5 ICT6 ICT7 ICT8 ICT9 ICT10 ICT11 ICT12 TABLE 1 PROPOSED COMMUNICATIONS AND COMPUTERS EQUIPMENT PROJECTS SCHEDULED FOR 2014/15 - 2018/19 SUMMARY BY YEAR Police Computers Systems <$5000 PD Central Computer System >$5000 IT Radios and E911 System PD Computer Equipment <$5000 ACES Computer Equipment >$5000 ACES Computer Equipment <$5000 IT Computer Equipment <$5000 F Computer Equipment <$5000 CM Computer Equipment <$5000 CS Computer Equipment <$5000 CD Computer Equipment <$5000 AACC Computer Equipment <$5000 CC Totals - $ 124,600 $ 116,100 $ 151,000 $ 215,000 160,000 165,000 47,000 31,000 20,500 97,000 104,500 102,000 45,000 35,000 40,000 6,000 6,000 6,000 2,000 6,000 2,000 - 4,000 - 14,000 10,000 6,300 3,500 4,500 3,500 6,500 2,000 6,000 3,000 - - City of Aventura 142,000 $ 152,000 $ 685,700 230,000 175,000 945,000 15,000 15,000 128,500 109,000 105,000 517,500 35,000 50,000 205,000 6,000 6,000 30,000 3,000 2,000 15,000 - - 4,000 26,900 19,550 76,750 4,000 4,500 20,000 6,000 5,000 25,500 - - 3,000 $ 563,600 $ 479,100 $ 502,300 $ 576,900 $ 534,050 $ 2,655,950 TABLE 2 PROPOSED COMMUNICATIONS AND COMPUTERS EQUIPMENT PROJECTS SCHEDULED FOR 2014/15 - 2018/19 FUNDING PLAN Police Computers Systems <$5000 PD Central Computer System >$5000 IT Radios and E911 System PD Computer Equipment <$5000 ACES Computer Equipment >$5000 ACES Computer Equipment <$5000 IT Computer Equipment <$5000 F Computer Equipment <$5000 CM Computer Equipment <$5000 CS Computer Equipment <$5000 CD Computer Equipment <$5000 AACC Computer Equipment <$5000 CC Totals 25,500 - $ 685,700 $ 685,700 - 945,000 945,000 - 128,500 128,500 - 517,500 - 517,500 205,000 - 205,000 30,000 30,000 - 15,000 15,000 - 4,000 4,000 - 76,750 76,750 - 20,000 20,000 - 25,500 25,500 - 3,000 3,000 - $ 2,655,950 $ 1,933,450 $ 722,500 Capital Improvement Program 2014 -2019 Page 42 City of Aventura PROPOSED PROJECTS 1 -PD Police Computers Systems < $5000 2014/15 $124,600 2015/16 $116,100 2016/17 $151,000 2017/18 $142,000 2018/19 $152,000 This project consists of purchasing computer equipment and software that utilizes the latest technology for the Police Department. 2014/15 Upgrades $57000 Replace 25 Mobile Laptops 507000 20 Desktop Computers 247000 Vehicle Modems 57600 Replace 2 Servers 107000 20 Vehicle Printers 207000 Key Track System 107000 2015/16 Upgrades $57000 Replace 25 Mobile Laptops 507000 20 Desktop Computers 247000 Vehicle Modems 57600 Replace 1 Server 57000 20 Vehicle Printers 157000 Desktop Scanner 57000 Color Printer 17500 Replace Smart Board 57000 2016/17 Upgrades $57000 Replace 25 Mobile Laptops 507000 20 Desktop Computers 247000 Vehicle Modems 147000 Replace 2 Server 107000 20 Vehicle Printers 157000 Desktop Scanner 27000 EOC PCS 127000 Laptop -Rugg ized 47000 Replace Smart Board 57000 Key Track System 107000 2017/18 Upgrades $57000 Replace 25 Mobile Laptops 507000 20 Desktop Computers 247000 Vehicle Modems 287000 Replace 2 Server 107000 Capital Improvement Program 2014 -2019 Page 43 City of Aventura 20 Vehicle Printers 157000 Desktop Scanners 57000 Replace Smart Board 57000 2018/19 Upgrades $57000 Replace 25 Mobile Laptops 507000 20 Desktop Computers 247000 Vehicle Modems 287000 Replace 2 Server 107000 20 Vehicle Printers 157000 Desktop Scanners 57000 Replace Smart Board 57000 Key Track System 107000 2 -IT Central Management Information System > $5000 2014/15 $215,000 2015/16 $160,000 2016/17 $165,000 2017/18 $230,000 2018/19 $175,000 This project consists of purchasing new and replacement computer hardware and software that utilize the latest technology for the City's general information management system, which is used by all City Departments. 2014/15 Software /Licenses /Upgrades $157000 Servers/ Security /UPS /Switches 707000 AS 400 Upgrades 57000 Upgrade Phone System 257000 TVMS Equipment Upgrades 507000 LaserFiche Upgrade 50.000 2015/16 Software /Licenses /Upgrades $207000 Servers/ Security /UPS /Switches 607000 AS 400 Upgrades 57000 Upgrade Phone System 57000 Upgrade Video System Solution 107000 TVMS Equipment Upgrades 607000 2016/17 Software /Licenses /Upgrades $207000 Servers/ Security /UPS /Switches 807000 AS 400 Upgrades 57000 Upgrade Phone System 107000 TVMS Equipment Upgrades 507000 2017/18 Software /Licenses /Upgrades $207000 Servers/ Security /UPS /Switches 857000 Capital Improvement Program 2014 -2019 Page 44 City of Aventura AS 400 Upgrades 507000 Upgrade Phone System 107000 TVMS Equipment Upgrades 507000 Equipment for Redundant Site 157000 2018/19 Software /Licenses /Upgrades $207000 Servers/ Security /UPS /Switches 707000 AS 400 Upgrades 57000 Upgrade Phone System 157000 TVMS Equipment Upgrades 657000 3 -PD Radios and E911 System 2014/15 $47,000 2015/16 $31,000 2016/17 $20,500 2017/18 $15,000 2018/19 $15,000 IThis project consists of upgrading the equipment for the 800 Mhz police radio system to I ensure astate -of- the -art system and maintain the E911 system. 2014/15 E911 System Upgrades 157000 7 Mobile Radios 327000 2015/16 E911 System Upgrades 157000 2 Handheld & 2 Mobile Radios 167000 2016/17 E911 System Upgrades 157000 2 Handheld Radios 57500 12017/18 E911 System Upgrades 157000 2018/19 E911 System Upgrades 15,000 4 -ACES Computer Equipment < $5,000 2014/15 $97,000 2015/16 $104,500 2016/17 $102,000 2017/18 $109,000 2018/19 $105,000 IThis project consists of the regular replacement of the computers, laptops, servers and I network infrastructure at the Aventura City of Excellence School. 2014/15 Replace 85 Computers /laptops 937500 Replace Color Laser Printer 37500 12015/16 Replace 80 Computers /Laptops 887000 Capital Improvement Program 2014 -2019 Page 45 City of Aventura 21 Tablet Computers 107500 Mobile Learning Computer Lab 57000 Replace Desktop Scanner 17000 2016/17 Replace 80 Computers /Laptops 887000 21 Tablet Computers 107500 Replace Color Laser Printer 37500 2017/18 Replace 85 Computers /Laptops 937500 21 Tablet Computers 107500 Mobile Learning Computer Lab 57000 2018/19 Replace 85 Computers /Laptops 937500 21 Tablet Computers 107500 Replace Desktop Scanner 17000 5 -ACES Computer Equipment > $5000 2014/15 $45,000 2015/16 $35,000 2016/17 $40,000 2017/18 $35,000 2018/19 $50,000 This project consists of the regular replacement of the computers and network infrastructure at the Aventura City of Excellence School that exceeds $5,000. 2014/15 Replace Network Switches and Routers 107000 Phone system Upgrade 157000 Replace AV equipment and /or Smart boards 207000 2015/16 Replace Network Switches and Routers 157000 Replace AV equipment and /or Smart boards 207000 2016/17 Replace Network Switches and Routers 107000 Replace 2 Servers 107000 Replace AV equipment and /or Smart boards 207000 2017/18 Replace Network Switches and Routers 107000 Phone System Upgrade 57000 Replace AV equipment and /or Smart boards 207000 2018/19 Replace Network Switches and Routers 107000 Replace AV equipment and /or Smart boards 407000 6 - IT Computer Equipment < $5000 Capital Improvement Program 2014 -2019 Page 46 City of Aventura 2014/15 $6,000 2015/16 $6,000 2016/17 $6,000 2017/18 $6,000 2018/19 $6,000 This project includes the replacement of existing equipment for the various employees of the department. 7 -F Computer Equipment < $5000 2014/15 $2,000 2015/16 $6,000 2016/17 $2,000 2017/18 $3,000 2018/19 $2,000 This project includes the replacement of existing equipment for the various employees of the department. 8 -CM Computer Equipment < $5000 2015/16 $4,000 This project consists of upgrading computer equipment in the Office of the City Manager. 9 -CS Computer Equipment < $5000 2014/15 $14,000 2015/16 $10,000 2016/17 $6,300 2017/18 $26,900 2018/19 $19,550 This project consists of purchasing and upgrading computer equipment in the Community Services Department and Community Recreation Center. 2014/15 Upgrade Visitor ID System $5,000 4 Computers 47000 Replace 1 ID Printer 47000 Upgrade GIS Software 17000 2015/16 Replace 5 Computers $5,000 Replace 1 ID Printer 47000 Upgrade GIS Software 17000 2016/17 Replace 4 Computers $4,000 Replace Laptop 17300 Upgrade GIS Software 17000 Capital Improvement Program 2014 -2019 Page 47 City of Aventura 2017/18 Replace 5 Computers $5,000 Replace CRC Server 47000 Replace HVAC Computer 47000 Upgrade GIS Software 17000 Replace 6 CRC Computers 97900 Replace CRC Server 37000 2018/19 4 Computers $4,000 Replace 6 CRC Computers 87250 Replace 1 Laptop 17300 Replace 1 Plotter 67000 10 -CD Computer Equipment < $5000 2014/15 $3,500 2015/16 $4,500 2016/17 $3,500 2017/18 $4,000 2018/19 $4,500 This project consists of computer upgrades, replacement printers and the implementation of field computers for code compliance and building inspections for the Community Development Department. 2014/15 Replace 3 Computers $3,000 Replace 1 Laserjet Printers 500 2015/16 Replace 3 Computers $3,000 Replace Laserjet Printers 500 Replace Desktop Scanner 17000 2016/17 Replace 3 Computers $3,000 Replace 1 Laserjet Printers 500 2017/18 Replace 3 Computers $3,000 Replace 2 Laserjet Printers 17000 2018/19 Replace 3 Computers $3,000 Replace 1 Laserjet Printers 500 Replace Desktop Scanner 17000 11 - AACC Computer Equipment < $5000 2014/15 $6,500 2015/16 $2,000 2016/17 $6,000 2017/18 $6,000 2018/19 $5,000 Capital Improvement Program 2014 -2019 Page 48 City of Aventura This project consists of purchasing and upgrading computer equipment in the Arts & Cultural Center. 2014/15 Upgrade Point of Sale System 67500 2015/16 Replace Laptop /tablets 27000 2016/17 Replace 4 Computers 47000 Replace Network Switches 27000 2017/18 Replace 2 Laptop /tablets 47000 Replace Color Laser Printer 27000 2018/19 Replace 4 Computers /laptops 57000 12 -CC Computer Equipment < $5000 2014/15 $37000 This project consists of upgrading and replacing computer equipment in the City Clerk's Office. Capital Improvement Program 2014 -2019 Page 49 City of Aventura CAPITAL EQUIPMENT PURCHASES AND REPLACEMENTS This section includes projects relating to Capital Equipment Purchases and Replacements for all operating departments. There are a total of 7 projects totaling $3,421,500. PnIicips The City's investment in capital equipment purchases and replacements is based on the following policies: Goal: Provide capital equipment that will meet the needs of all departments in order to maintain the efficiency and productivity of providing municipal services to the City's residents. • Replace all present equipment that is required when they become unusable, unsafe or when maintenance costs outweigh the total cost of replacement. • Develop and maintain an "Equipment Evaluation and Replacement Guide" to determine replacement schedules and costs. Purchase more economical, fuel efficient and multi - functional vehicles. • Purchase new equipment that will increase productivity and reduce personnel and maintenance costs. • Maintain all City assets at a level adequate to protect the City's capital investment and to minimize future maintenance and replacement costs. Proposed Capital Equipment Purchase And Replacement Most projects outlined in the 2014/15 to 2018/19 Capital Improvement Program are either pertaining to vehicles or operational equipment. Detailed project descriptions and a funding schedule follow. The CIP guidelines provide that capital equipment shall be defined as having a useful life of more than one year and a value of $5,000 or more. Equipment that has a value of $5,000 or less is also included in this document for budgetary purpose. Funding Plan Funding for the proposed Capital Equipment Purchase and Replacement Projects will be provided by annual appropriations from the General Fund: Capital Improvement Program 2014 -2019 Page 50 City of Aventura PROPOSED CAPITAL EQUIPMENT PURCHASE AND REPLACEMENT PROJECTS SCHEDULED FOR 2014/15 - 2018/19 SUMMARY BY YEAR CIP # Project Title Dept. # 2014/15 �L 2015/16 2016/17 2017/18 2018/19 owl Equipment Purchase and Replacement <5000 CE 1 Vehicle Purchase & Replacements PD $ 471,000 $ 439,000 $ 497,000 $ 497,000 $ 448,000 $ 2,352,000 CE2 Equipment Purchase and Replacement >5000 PD 94,000 93,000 109,500 122,000 124,000 542,500 CE3 Equipment Purchase and Replacement <5000 PD 29,850 34,560 38,860 14,900 60,000 178,170 CE4 Equipment Purchase and Replacement >5000 CS 31,000 50,000 42,000 14,000 28,000 165,000 CE5 Equipment Purchase and Replacement <5000 CS 23,800 11,300 7,300 1,750 9,750 53,900 CE6 Equipment Purchase and Replacement >5000 AACC 27,780 15,050 37,400 20,700 9,000 109,930 CE7 Equipment Purchase and Replacement >5000 CD - 20,000 - - - 20,000 Totals $ 677,430 $ 662,910 $ 732,060 $ 670,350 $ 678,750 $ 3,421,500 CE1 CE2 CE3 CE4 CE5 CE6 CE7 TABLE 2 PROPOSED CAPITAL EQUIPMENT PURCHASE AND REPLACEMENT PROJECTS SCHEDULED FOR 2014/15 - 2018/19 FUNDING PLAN Vehicle Purchase & Replacements PD Equipment Purchase and Replacement >5000 PD Equipment Purchase and Replacement <5000 PD Equipment Purchase and Replacement >5000 CS Equipment Purchase and Replacement <5000 CS Equipment Purchase and Replacement >5000 AACC Equipment Purchase and Replacement >5000 CD Totals $ 2,352,000 General $ 2,352,000 542,500 542,500 178,170 178,170 165,000 165,000 53,900 53,900 109,930 109,930 20,000 20,000 $ 3,421,500 $ 3,421,500 Capital Improvement Program 2014 -2019 Page 51 City of Aventura PROPOSED PROJECTS 1 -PD Vehicle Purchase &Replacements 2014/15 $471,000 2015/16 $439,000 2016/17 $497,000 2017/18 $497,000 2018/19 $448,000 This project consists of purchasing police vehicles to accommodate new employee additions and establish a vehicle replacement program in the Police Department. 2014/15 Replace 9 patrol vehicles $3247000 Replace 2 Traffic Vehicles 727000 Replace K -9 Vehicle 407000 Replace 1 Crime Scene Van 357000 2015/16 Replace 10 Patrol Vehicles $364,000 Replace 1 Crime Prevention Van 357000 Replace K -9 Vehicles 407000 2016/17 Replace 11 Patrol Vehicles $426,000 Replace Crime Scene Van 357000 Replace 1 Traffic Vehicle 367000 2017/18 Replace 11 Patrol Vehicles $411,000 Replace Prisoner Van 407000 Replace Crime Prevention Trailer 107000 Replace 1 Traffic Vehicle 367000 2018/19 Replace 10 Patrol Vehicles $378,000 Replace Traffic Truck 307000 Replace K -9 Vehicles 407000 2 -PD Equipment Purchase and Replacement > $5000 2014/15 $94,000 2015/16 $93,000 2016/17$1097500 2017/18 $122,000 2018/19 $124,000 This project consists of purchasing equipment for the Police Department. The following is a breakdown of the items to be replaced: 2014/15 10 Vehicle Equipment $74,000 K -9 Vehicle Equipment 107000 Crime Scene Van Equipment 107000 Capital Improvement Program 2014 -2019 Page 52 City of Aventura 2015/16 10 Vehicle Equipment $66,000 Crime Scene Van Equipment 57000 K -9 Vehicle Equipment 107000 Message Board 127000 2016/17 12 Vehicle Equipment $83,500 Traffic Vehicle Equipment 167000 Crime Scene Van Equipment 107000 2017/18 11 Vehicle Equipment $77,000 Replace Segway 107000 Prisoner Van Equipment 257000 Crime Scene Equipment 107000 2018/19 11 Vehicle Equipment $78,000 Replace Segway 117000 Replace In -Car Video 357000 3 - PD Equipment Purchase and Replacement < $5000 2014/15 $297850 2015/16 $347560 2016/17 $387860 2017/18 $147900 2018/19 $607000 2014/15 Replace 10 Ballistic Vests $127000 Site Block 4 Panel unit 27750 6 Tasers 87100 Digital Camera 37000 K -9 Supplies 47000 2015/16 Replace 10 Ballistic Vests $127360 12 Tasers 167200 Replace 2 Digital Cameras 67000 2016/17 Replace 10 Ballistic Vests $127360 10 Tasers 137500 AR Rifles 107000 Optics for AR 37000 2017/18 Replace 10 Ballistic Vests $127500 Dive Equipment 27400 2018/19 Replace 10 Ballistic Vests $127500 2 Laser Units 4, 000 6 Tasers 87000 Capital Improvement Program 2014 -2019 Page 53 City of Aventura Dive Equipment 27500 Optics for AR 37000 10 Swat Vests 307000 4 -CS Equipment Purchase and Replacement > $5,000 2014/15 $317000 2015/16 $507000 2016/17 $427000 2017/18 $147000 2018/19 $287000 This project consists of the replacement of equipment that has become inefficient, defective, or unusable and to add new equipment to provide improved services in the Community Services Department. The following is a breakdown of the items to be purchased: 2014/15 Replace 2 Ellipticals 117000 Replace Pickup Truck 207000 2015/16 Replace Hybrid Utility Vehicle $30,000 Replace Pickup Truck 207000 2016/17 Replace 2 Treadmill $12,000 Replace Hybrid Utility Vehicle 307000 2017/18 1 Electric Low Speed Vehicles 147000 2018/19 2 Electric Low Speed Vehicles 287000 5 -CS Equipment Purchase and Replacement < $5,000 2014/15 $23,800 2015/16 $11,300 2016/17 $7,300 2017/18 $1,750 2018/19 $9,750 This project consists of the replacement of equipment that has become inefficient, defective, or unusable in the Community Recreation Center. The following is a breakdown of the items to be replaced: 2014/15 Replace 40 Chairs $3,500 Replace AV Equipment 107000 Replace Lobby Furniture 57500 Replace 2 Tents 17800 Replace Sports Fencing Panels 37000 2015/16 Replace 12 Tables $2,500 Replace Stair Climber 47000 Replace Sports Fencing Panels 37000 Capital Improvement Program 2014 -2019 Page 54 City of Aventura Replace 2 Tents 17800 2016/17 Replace 1 Recumbent Bicycle $2,500 Replace Sports Fencing Panels 37000 Replace 2 Tents 17800 12017/18 Replace Stair Climber $1,750 2018/19 Replace 10 Tables $1,750 Replace 40 Charis 37000 Replace 2 Soccer Goals 57000 6 -AACC Equipment Purchase and Replacement > $5,000 2014/15 $27,780 2015/16 $15,050 2016/17 $37,400 2017/18 $20,700 2018/19 $9,000 This project consists of purchasing equipment for the Arts &Cultural Center: 2014/15 Microphones $2,800 Additional Sound & Lighting Equipment 57120 Upright Piano 137500 Chairs & Storage 37360 2015/16 Additional Lighting Equipment $5,000 Headset Replacement 67850 Lobby Chair Replacement 37200 1 2016/17 ADA Listening Devices $2,400 Seachangers for Stage Lighting 357000 12017/18 Replacement of Lobby Furniture 207700 2018/19 Replacement of Music Stands 37000 Replacement of Stage Monitors 67000 7 -CD Equipment Purchase and Replacement > $5,000 2015/16 $20,000 This project consists of the addition of equipment or the replacement of equipment that has become inefficient, defective, or unusable in the Community Development Department. The following is a breakdown of the items to be replaced: 12015/16 Pickup Truck $20,000 Capital Improvement Program 2014 -2019 Page 55 City of Aventura Now- Capital Improvement Program 2014 -2019 Page 56 CITY OF AVENTURA FINANCE DEPARTMENT M TO: City Commission FROM: Eric M. Soroka, ICMA -CM, C L BY: ,66 rian K. Raducci, Finance D DATE: June 10, 2014 SUBJECT: Re- adoption of Chapter 6.6 of the Administrative Policy Directives and Procedures Manual, entitled "Investment Objectives and Parameters" as the City's Investment Policy for the Management of Public Funds. July 8, 2014 City Commission Meeting Agenda Item RECOMMENDATION It is recommended that the City Commission adopt the attached resolution re- adopting Chapter 6.6 of the Administrative Policy Directives and Procedures ( "APDP ") Manual, entitled "Investment Objectives and Parameters" as the City's Investment Policy for the Management of Public Funds. BACKGROUND As you know, the City's investment manager — Cutwater Asset Management ( "CAM "), was instrumental in helping the City develop the original version of Chapter 6.6 of the APDP in order to ensure that the City's investment policy was in compliance with Section 218.415, F.S. The statute requires that the City must invest its surplus funds consistent with a written investment plan adopted by the City Commission. Our original investment policy was adopted by Resolution 2009 -30 and its three (3) main goals (listed by priority) were and continue to be: 1. Safety of Capital 2. Liquidity of Funds 3. Investment Income As part of their professional service, CAM periodically reviews our investment policy to ensure that it allows for us to operate at optimal efficiency and effectiveness while taking the current market conditions into consideration. Since its original adoption, the policy has been revised based on CAM's recommendations as follows: • Shortly after the City adopted APDP 6.6, the investment policy was expanded to include the following categories; Commercial Paper, Corporate Notes and TaxablefTax- Exempt Municipal Bonds which were adopted as part of the 2009/10 budget (through Ordinance 2009 -17) • Effective, November 1, 2011 (through Resolution 2011 -61) minor revisions were made to our investment policy that allowed us to operate more effectively and efficiently under the then current economic climate while remaining in compliance with Section 218.415, F.S. CURRENT ECONOMIC CLIMATE CAM has recently completed their periodic review of our investment policy and as a result has suggested the following revisions that they believe will allow the City to take full advantage of the current economic environment while remaining in compliance with Section 218.415, F.S. Corporate Notes Lower the minimum ratings on corporate securities from AA to A by Moody's, S &P or Fitch, thus adding an additional universe of securities available to the portfolio while providing additional portfolio diversification and incremental yield. Cutwater also recommends extending the maturity of corporate securities from three (3) to five (5) years, thus increasing the maturity of corporate securities while providing further opportunity for diversification. 2. State and /or Local Government Taxable and /or Tax - Exempt Debt Lower the minimum ratings on muni securities from AA to A by Moody's and S &P thus promoting diversification and the potential for incremental yield. 3. Asset Backed Securities (ABS) Although the current policy permits the utilization of ABS under Corporate Note securities, CAM is recommending that we establish a separate section which strictly relates to ABS due to the complexities associated with these securities. Please note a more detailed explanation of these suggested revisions is attached in a letter that we received from CAM dated June 5, 2014. Upon your review of this memorandum, please feel free to contact the City Manager with any questions you may have. BKR /bkr 2 CUTWATER ASSET MANAGEMENT Memorandum Date: June 5, 2014 To: Mr. Brian Raducci Matthew Bodo From: Miriam Cleary Jason Celente, CFA Re: City of Aventura Investment Policy Guideline Review As is regularly requested, Cutwater Asset Management has reviewed the City of Aventura's current Investment Policy. Based on this review, we recommend the following modifications to the City's Investment Policy. 1) Corporate Notes Lowering the minimum ratings on corporate securities from AA to A by Moodys, S &P or Fitch. This change in minimum rating will add an additional universe of securities available to the portfolio. This is expected to provide additional portfolio diversification and incremental yield. The benchmark comparison below provides evidence of this diversification and incremental yield available to the portfolio: Duration 1.83 1.84 1.84 Yield 0.36 0.39 0.44 Sector Treasury 89% 76% 68% Agency 11% 19% 17% Corporate 5% 15% Rating Allocation AAA 97% 91% 81% AA 3% 9% 8% A 11% Duration Distribution < 1Yr 8% 8% 1 7% 1 to 2Yr 52% 51% 52% 2 to Ur 40% 41% 41% CUTWATER ASSET MANAGEMENT 1 113 King Street, Armonk, NY 10504 1 866 - 766 -3030 1 www.cutwater.com Cutwater also recommends extending the maturity of corporate securities from 3 to 5 years. Increasing the maturity of corporate securities provides further opportunity for diversification. This change will allow for increased use of floating rate securities within the portfolio during a rising rate environment. (Section V LISTING OF AUTHORIZED INVESTMENTS — J. Corporate Notes) 2) State and /or Local Government Taxable and /or Tax - Exempt Debt Lowering the minimum ratings on muni securities from AA to A by Moody's and S&P. The change in minimum rating will similarly promote diversification and the potential for incremental yield. (Section V LISTING OF AUTHORIZED INVESTMENTS — K. Taxable/Tax- Exempt Municipal Bonds) 3) Asset Backed Securities (ABS) The current guidelines do permit ABS under Corporate Note securities. We recommend establishing a separate section which strictly relates to ABS due the complexities associated with these securities. (Section V LISTING OF AUTHORIZED INVESTMENTS — add ABS guidelines as separate permitted investment) A sample guideline is outlined below: Asset Backed Securities Invest in Asset Backed Securities (ABS) issued by corporations organized and operating within the United States or by depository institutions licensed by the United States that have a long term debt rating, at the time of purchase, AAA or the equivalent by at least two (2) nationally recognized rating agencies. Portfolio Composition A maximum of 15% of available funds may be directly invested in ABS. Limits on Individual Sectors A maximum of 10% of available funds may be directly invested in ABS of any one industry sub - sector as defined by Bloomberg Industry Groups. Limits on Individual Issuers A maximum of 2% of available funds may be invested with any one issuer. Maturity Limitations The maximum length to maturity for ABS shall be five (5) years from the date of purchase. We are available to discuss these recommendations at your earliest convenience. Also, please do not hesitate to contact us should you require additional information. Best Regards, Matthew Bodo PURPOSE The purpose of this policy is to set forth the investment objectives and parameters for the management of public funds of the City. These policies are designed to ensure the prudent management of public funds, the availability of operating and capital funds when needed and a competitive investment return. I. SCOPE This investment policy applies to the investment of public funds in excess of amounts needed to meet current expenses, which includes cash and investment balances of City funds. This policy does not apply to the City's pension funds, including those funds in chapters 175 and 185 or funds related to the issuance of debt where there are other existing policies or indentures in effect which govern the investment of such funds. This policy shall be construed and applied so as to comply with Section 218.415, F.S. II. INVESTMENT OBJECTIVES Investment objectives include safety of capital, liquidity of funds and investment income, in that order. The following objectives will be applied in the management of the City's funds: A. Safety of Capital The primary objective of the City's investment program is the protection of public funds. Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. The objective will be to mitigate credit risk and interest rate risk. 1. Credit Risk — The City will minimize credit risk, the risk of loss due to the failure of the security issuer or backer, by: a) Limiting investments to the safest type of securities; b) Pre - qualifying the financial institution, broker /dealer, intermediaries and advisors with which the City will do business; c) Diversifying the investment portfolio so that potential losses on individual securities will be minimized. 2. Interest Rate Risk — The City will minimize the risk that the market value of securities in the CITY OF AVENTURA 6 6 1 ADMINISTRATIVE POLICY DIRECTIVES Chapter # Sub Page AND PROCEDURES MANUAL Date May 22, Issued: 2009 CHAPTER: FINANCE, BUDGET & PURCHASING APPROVED: City Ma age SUBJECT: INVESTMENT OBJECTIVES AND PARAMETERS PURPOSE The purpose of this policy is to set forth the investment objectives and parameters for the management of public funds of the City. These policies are designed to ensure the prudent management of public funds, the availability of operating and capital funds when needed and a competitive investment return. I. SCOPE This investment policy applies to the investment of public funds in excess of amounts needed to meet current expenses, which includes cash and investment balances of City funds. This policy does not apply to the City's pension funds, including those funds in chapters 175 and 185 or funds related to the issuance of debt where there are other existing policies or indentures in effect which govern the investment of such funds. This policy shall be construed and applied so as to comply with Section 218.415, F.S. II. INVESTMENT OBJECTIVES Investment objectives include safety of capital, liquidity of funds and investment income, in that order. The following objectives will be applied in the management of the City's funds: A. Safety of Capital The primary objective of the City's investment program is the protection of public funds. Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. The objective will be to mitigate credit risk and interest rate risk. 1. Credit Risk — The City will minimize credit risk, the risk of loss due to the failure of the security issuer or backer, by: a) Limiting investments to the safest type of securities; b) Pre - qualifying the financial institution, broker /dealer, intermediaries and advisors with which the City will do business; c) Diversifying the investment portfolio so that potential losses on individual securities will be minimized. 2. Interest Rate Risk — The City will minimize the risk that the market value of securities in the portfolio will fall due to changes in general interest rates, by: a) Structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity; b) Investing operating funds primarily in shorter -term securities, money market mutual funds or similar investment pools. B. Liquidity of Funds The City's investment strategy will provide sufficient liquidity to meet the City's operating, payroll and capital requirements. To the extent possible, an attempt will be made to match investment maturities with known cash needs and anticipated cash flow requirements. Since all possible cash demands cannot be anticipated, the portfolio should consist largely of securities with active secondary or resale markets. A portion of the portfolio also may be placed in money market mutual funds or local government investment pools which offer same -day liquidity for short-term funds. C. Investment Income The City's investment portfolio shall be designed with the intent of attaining a market rate of return throughout the budgetary and economic cycles, taking into account the City's investment risk constraints and liquidity needs. Return on investment is of secondary importance compared to the safety and liquidity objectives described above. III. PERFORMANCE MEASUREMENT The investment portfolio will be managed in accordance with the parameters specified within this policy. The portfolio should obtain a market average rate of return during a market/economic environment of stable interest rates while insuring sufficient liquidity within the portfolio. The short-term investment portfolio shall be designed with the annual objective of exceeding the return of the Florida State Board of Administration LGIP. The long -term investment portfolio shall be designed with the annual objective of exceeding the return of the Merrill Lynch 1 -3 Year Treasury/Agency Index compared to the portfolio's total rate of return. The Merrill Lynch 1 -3 Year Treasury/Agency Index represents all U.S. Treasury/Agency securities maturing over one (1) year, but less than three (3) years. This maturity range is an appropriate benchmark based on the objectives of the City. IV. ETHICAL STANDARDS The investment officer and staff, acting in accordance with the written procedures and exercising due diligence, shall not be held personally responsible for a specific security's credit risk or market price changes, provided that these deviations are reported immediately and that appropriate action is taken to control adverse developments. A. Ethics and Conflicts of Interest The City's staff involved in the investment process shall refrain from personal business activity that APDP 6.6.3 could conflict with the proper execution and management of the investment program, or that could impair their ability to make impartial decisions. All employees involved in the investment process shall disclose to the City any material financial interests in financial institutions that conduct business with the City, and they shall further disclose any material personal financial /investment positions that could be related to the performance of the City's investment program. Applicable ethics standards provided by the City Charter, City Code, Section 2 -11.1 of the Miami -Dade County Code, and Part III of Chapter 112, F.S., shall be complied with. B. Investments should be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived from the investment. C. Designation of Investment Officer The Finance Director is designated as investment officer of the City and is responsible for investment decisions and the day -to -day administration of the cash management program. No person may engage in an investment transaction except as provided under the terms of this policy and the procedures so established. The City may appoint an outside investment manager as "Agent" for the City's cash reserves. The "Agent" for the City shall have discretion over the purchase and sale of securities within and subject to compliance with this investment policy. Such investment manager must be registered under the Investment Advisor Act of 1940. The Finance Director shall consult with the City Manager as necessary regarding the City's investment activity. Positions authorized as investment signatories are the City Manager and Finance Director. V. LISTING OF AUTHORIZED INVESTMENTS — (SUMMARY TABLE IN APPENDIX A) The following investments will be permitted by this policy as consistent with Section 218.415 (16) F.S. Those investments not listed in this section are prohibited. A. United States Government Securities Negotiable direct obligations or obligations the principal and interest of which are unconditionally guaranteed by the United States Government. Such securities will include, but not be limited to the following: ➢ Treasury Bills ➢ Treasury Notes ➢ Treasury Bonds ➢ Treasury Strips ➢ Treasury Securities — State and Local Government Series ( "SLGS ") ➢ Treasury Inflation Protection Securities ( "TIPS ") Portfolio Composition A maximum of 100% of available funds may be invested in the United States Government Securities with the exception of Treasury Strips which are limited to 10% of available funds. Maturity Limitations The maximum length to maturity of any direct investment in the United States Government Securities is seven (7) years from the date of purchase. APDP 6.6.4 B. United States Government Agencies Bonds, debentures or notes which may be subject to call, issued or guaranteed as to principal and interest by the United States Governments agencies, provided such obligations are backed by the full faith and credit of the United States Government. Such securities will include, but not be limited to the following: ➢ United States Export — Import Bank - Direct obligations or fully guaranteed 'certificates of beneficial ownership ➢ Farmer Home Administration - Certificates of beneficial ownership ➢ Federal Financing Bank - Discount notes, notes and bonds ➢ Federal Housing Administration Debentures ➢ FDIC guaranteed notes ( "TLGP" bonds) ➢ Government National Mortgage Association ( "GNMA ") - GNMA guaranteed mortgage- backed bonds - GNMA guaranteed pass- through obligations ➢ General Services Administration ➢ New Communities Debentures - United States Government guaranteed debentures ➢ United States Public Housing Notes and Bonds - United States Government guaranteed public housing notes and bonds ➢ United States Department of Housing and Urban Development - Project notes and local authority bonds Portfolio Composition A maximum of 50% of available funds may be invested in United States Government agencies. Limits on Individual Issuers A maximum of 10% of available funds may be invested in individual United States Government agencies. Maturity Limitations The maximum length to maturity for an investment in any United States Government agency security is five (5) years from the date of purchase. C. United States Government Sponsored Agencies Bonds, debentures or notes which may be subject to call, issued or guaranteed as to principal and interest by United States Government sponsored agencies which are non -full faith and credit agencies limited to the following: ➢ Federal Farm Credit Bank ( "FFCB ") ➢ Federal Home Loan Bank or its City Banks ( "FHLB ") ➢ Federal National Mortgage Association ( "FNMA ") ➢ Federal Home Loan Mortgage Corporation ( "Freddie- Macs ") including Federal -Home Loan Mortgage Corporation participation certificates Portfolio Composition A maximum of 80% of available funds may be invested in Federal Instrumentalities. APDP 6.6.5 Limits on Individual Issuers A maximum of 25% of available funds may be invested in any one (1) issuer. Maturity Limitations The maximum length to maturity for an investment in any Federal Instrumentality security under this Section (C) is seven (7) years from the date of purchase. Mortgage backed securities will have average duration not greater than five (5) years. D. Interest Bearing Time Deposit or Savings Account Non - negotiable interest bearing time certificates of deposit or savings accounts in banks organized under the laws of Florida or the United States provided that such deposits are secured by collateral as prescribed by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes. Portfolio Composition A maximum of 10% of available funds may be invested in non - negotiable interest bearing time certificates of deposit. Limits on Individual Issuers A maximum of 10% of available funds may be deposited with any one (1) issuer. Limits on Maturities The maximum maturity on any certificate shall be no greater than one (1) year from the date of purchase. E. Repurchase Agreements Invest in repurchase agreements composed of only those investments based on the requirements set forth by the City's Master Repurchase Agreement. A third party custodian with whom the City has a current custodial agreement shall hold the collateral for all repurchase agreements with a term longer than one (1) business day. A clearly marked receipt that shows evidence of ownership must be supplied to the Finance Director or designee and retained. All firms are required to sign the Master Repurchase Agreement prior to the execution of a repurchase agreement transaction. 2. Collateralized by full faith or general faith and credit obligations of the United States Government or United States Government Agency securities. Securities authorized for collateral must have maturities under five (5) years and with market value for the principal and accrued interest of 102 percent of the value and for the term of the repurchase agreement. Immaterial short-term deviations from 102 percent requirement are permissible only upon the written approval of the Finance Director or designee and /or the City's Investment Manager. Portfolio Composition A maximum of 20% of available funds may be invested in repurchase agreements excluding one (1)- business day agreements and overnight sweep agreements. Limits on Individual Issuers A maximum of 5% of available funds may be invested with any one (1) institution excluding one (1)- business day agreements and overnight sweep agreements. Limits on Maturities The maximum length to maturity of any repurchase agreement is 90 days from the date of purchase. APDP 6.6.6 F. The Florida Local Government Surplus Funds Trust Fund (State Board of Administration — SBA) Portfolio Composition A maximum of 50% of available funds may be invested in the SBA. G. Intergovernmental Investment Pools Investment Authorization Intergovernmental investment pools that are authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes and provided that said funds contain no derivatives. Portfolio Composition A maximum of 25% of available funds may be invested in intergovernmental investment pools. Due Diligence Requirements A thorough review of any investment pool /fund is required prior to investing, and on a continual basis. There shall be a questionnaire developed by the Finance Director or designee and /or the City's Investment Manager that will contain a list of questions that covers the major aspects of any investment pool /fund . H. Registered Investment Companies (Money Market Mutual Funds) Registered with the Securities and Exchange Commission with the highest credit quality rating from a nationally recognized rating agency; portfolio is limited to direct obligations of the United States Government or any agency or instrumentality thereof. Portfolio Composition A maximum of 35% of available funds may be invested in money market funds. Limits of Individual Issuers A maximum of 15% of available funds may be invested with any one (1) money market fund. Rating Requirements The money market funds shall be rated "AAAm" or "AAAm -G" or better by Standard & Poor's, or the equivalent by another rating agency. Due Diligence Requirements A thorough review of any money market fund is required prior to investing, and on a continual basis. There shall be a questionnaire developed by the Finance Director or designee and /or the City's Investment Advisor /s that will contain a list of questions that covers the major aspects of any money market fund. I. Commercial Paper Commercial paper of any United States company that is rated "Prime -1" by Moody's and "A -1" by Standard & Poor's (prime commercial paper). If the commercial paper is backed by a letter of credit ( "LOC "), the long -term debt of the LOC provider must be rated "A" or better by at least two (2) nationally recognized rating agencies. APDP 6.6.7 Portfolio Composition A maximum of 25% of available funds may be directly invested in prime commercial paper. Limits on Individual Sectors A maximum of 10% of available funds may be invested with any one sector. Limits on Individual Issuers A maximum of 2% of available funds may be invested with any one issuer. Maturity Limitations The maximum length to maturity for prime commercial paper shall be 270 days from the date of purchase. J. Corporate Notes Corporate notes issued by corporations organized and operating within the United States or by depository institutions licensed by the United States that have a long term debt rating, at the time or purchase, " "AN' ROOF'S "A" or better by at least two (2) nationally recognized rating agencies. Portfolio Composition A maximum of 25% of available funds may be directly invested in corporate notes. Limits on Individual Sectors A maximum of 10% of available funds may be invested with any one sector. Limits on Individual Issuers A maximum of 2% of available funds may be invested with any one issuer. Maturity Limitations The maximum length to maturity for corporate notes shall be (3§) ee -five -5 years from the date of purchase. K. Taxable/Tax- Exempt Municipal Bonds State (Florida) and /or (Florida) local government taxable and /or tax - exempt debt, general obligation and /or revenue bonds, rated at least "AaK by Moody's and "AAA" by Standard & Poor's for long -term debt, or rated at least "MIG -2" by Moody's and "SP -2" by Standard & Poor's for short-term debt. Portfolio Composition A maximum of 25% of available funds may be invested in taxable and tax - exempt General Obligation bonds. A maximum of 10% of available funds may be invested in taxable and tax - exempt Revenue and Excise tax bonds of the various municipalities of the State of Florida, provided none of such securities have been in default within five (5) years prior to the date of purchase. Maturity Limitations A maximum length to maturity for an investment in any state or local government debt security is five (5) years from the date of purchase APDP 6.6.8 L. Asset Backed Securities Invest in Asset Backed Securities (ABS) issued by corporations organized and oaeratina within- --- -- the United States or by depository institutions licensed by the United States that have a long term debt rating, at the time of purchase. AAA or the equivalent by at least two (2) nationally recognized rating agencies. t. --------------------------------------------------------------------------------------------------------------------------------------- - - - - -- z7.-Portfolio Composition maximum of 15% of available funds may be directly invested in ABS. • - - - - -- - - - - -- - -- - - - -- - -- ------------- - - - - -- - , Limits on Individual Sectors A maximum of 10% of available funds may be directly invested in ABS of any one industry sub - sector as defined by Bloomberg Industry Groups. Limits on Individual Issuers A maximum of 2% of available funds may be invested with any one issuer. Maturity Limitations The maximum length to maturity for ABS shall be (5) 5 years from the date of purchase. • ------------------------------------------------------------- --------------------------------------------------------------------------------------------------- - - - - -- - - - - - -- t;, L - - - - -- --------------------------------------------------------------------------------- - - - - -- ------------------------------------------------------------------------------------------ VI. PROHIBITIONS The purchase of derivative instruments as defined by the Government Account Standards Board ( "GASB ") or any investment instrument which is structured to derive a rate of return from an investment source other than the originally purchased investment is strictly prohibited. VII. INVESTMENT PARAMETERS A. Maturity and Liquidity Requirements To the extent possible, the City shall attempt to match its investments with anticipated cash flow requirements. Unless matched with a specific cash flow, the City will not directly invest in securities maturing more than seven (7) years from the date of purchase. Average life will be used as the maturity for mortgage- backed securities and the intergovernmental pool investments. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds such as Local Government Investment Pools, or money market funds to ensure that appropriate liquidity is maintained to meet ongoing obligations. VIII. SAFEKEEPING AND CUSTODY A. Authorized Investment Institutions and Dealers The City shall only purchase investments from the State Board of Administration, Florida Municipal Investment Trust, financial institutions which are qualified as public depositories by the Treasurer of the State of Florida, primary security dealers (or their agents) as designated by the Federal Reserve APDP 6.6.9 Bank of New York, or by secondary securities dealers (or their agents) who act as investment banking arms of local qualified banking institutions. All financial institutions and broker /dealers who desire to provide investment services must supply the following as appropriate and as requested: 1. Annual audited financial statements; 2. Public depository certification; 3. Proof of National Association of Securities Dealer ( "NASD ") Certification; 4. Certification of having read the City's investment policy; 5. Credit rating provided by a nationally recognized monitoring agency. B. Delivery vs. Payment All trades where applicable will be executed by delivery versus payment ( "DVP ") to ensure that securities are deposited in an eligible financial institution prior to the release of funds. Securities will be held by a third -party custodian as evidenced by safekeeping receipts. C. Master Repurchase Agreement The investment policy shall require all approved institutions and dealers transacting repurchase agreements to execute and perform as stated in the Master Repurchase Agreement. All repurchase agreement transactions shall adhere to the requirements of the Master Repurchase Agreement. D. Bid Requirements Investments will be chosen based on liquidity needs and market conditions. The investments will be competitively bid when feasible and appropriate. Except as required by law, the bid deemed to best meet the investment objectives must be selected. E. Internal Controls The Finance Director is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the City are protected from loss, theft or misuse. The internal control structure shall be designed to provide reasonable assurance that these objectives are met. The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be derived and the valuation of costs and benefits requires estimates and judgments by management. Accordingly, the Finance Director shall establish a process for an annual independent review as part of the annual financial audit to assure compliance with the policies and procedures. The internal controls shall address the following points: Control of collusion — Collusion is a situation where two (2) or more employees are working in conjunction to defraud their employer. 2. Separation of transaction authority from accounting and record keeping — By separating the person who authorizes or performs the transaction from the people who record or otherwise account for the transaction, .a separation of duties is achieved. 3. Custodial safekeeping — All securities, with the exception of certificates of deposit, shall be held with a third -party custodian; and all securities purchased by, and all collateral obtained by the City should be properly designated as an asset of the City. The securities must be held in an account AP DP 6.6.10 separate and apart from the assets of the financial institution. No withdrawal of such securities, in whole or in part, shall be made from safekeeping except by the Finance Director as authorized herein, or by their respective designee. 4. Certificates of Deposit issued by a local bank or savings and loan association may be held in safekeeping at that institution. The institution shall issue a copy of the certificate of deposit, a safekeeping receipt, or some other confirmation of the purchase that is satisfactory to the Finance Director. This will be kept on file in the Finance Department and will indicate the amount, interest rate, issue date and maturity date of the certificate of deposit. 5. Avoidance of physical delivery securities — Book entry securities are much easier to transfer and account for since actual delivery is never taken. Physical delivery securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities. 6. Clear delegation of authority to subordinate staff members — Subordinate staff members must have a clear understanding of their authority and responsibilities to avoid improper actions. 7. Written confirmation of telephone transactions for investments and wire transactions — Due to the potential for error and improprieties arising from telephone transactions, all telephone transactions should be supported by written communications and approved by appropriate personnel unless an agreement is executed with a financial institution as discussed in paragraph B.8 below. 8. Development of a wire transfer agreement with a bank or third -party custodian — This agreement should outline the various controls and security provisions for making and receiving wire transfers. IX. CONTINUING EDUCATION The Finance Director and Controller shall annually complete eight (8) hours of continuing education in subjects or courses of study related to investment practices and products. X. REPORTING The Finance Director shall provide a quarterly investment report to the City Manager. The report shall list investments by fund and type and include the book value, income earned and market value as of the report date. XI. SECURITIES; DISPOSITION A. Every security purchased under this section on behalf of the governing body of the City must be properly earmarked and: 1. If registered with the issuer or its agents, must be immediately placed for safekeeping in a location that protects the governing body's interest in the security; 2. If in book entry form, must be held for the credit of the governing body by a depository chartered by the Federal Government, the state, or any other state or territory of the United States which has a branch or principal place of business in this state as defined in s. 658.12, or by a national association organized and existing under the laws of the United States which is authorized to accept and execute trusts and which is doing business in this state, and must be kept by the depository in an account separate and apart from the assets of the financial institution; or APDP 6.6.11 3. If physically issued to the holder but not registered with the issuer or its agents, must be immediately placed for safekeeping in a secured vault. B. The City may also receive bank trust receipts in return for investment of surplus funds in securities. Any trust receipts received must enumerate the various securities held, together with the specific number of each security held. The actual securities on which the trust receipts are issued may be held by any bank depository chartered by the Federal Government, this state, or any other state or territory of the United States which has a branch or principal place of business in this state as defined in s. 658.12, or by a national association organized and existing under the laws of the United States which is authorized to accept and execute trusts and which is doing business in this state. XII. SALE OF SECURITIES When the invested funds are needed in whole or in part for the purposes originally intended or for more optimal investments, the City may sell such investments at the then - prevailing market price and place the proceeds into the proper account or fund of City. XIII. PREEXISTING CONTRACT Any public funds subject to a contract or agreement existing on May 1, 2009, may not be invested contrary to such contract or agreement. XIV. AUDITS Certified public accountants conducting audits of the City pursuant to s. 218.39 shall report, as part of the audit, whether or not the City has complied with section 218.415, F.S., and this Investment Policy. XV. AUTHORIZED DEPOSITS In addition to the investments authorized for the City in subsection (VIII), as authorized by paragraph (23) of Section 218.415, F.S., the City may deposit any portion of surplus public funds in its control or possession in accordance with the following conditions: A. The funds are initially deposited in a qualified public depository, as defined in s. 280.02, selected by the City. B. The selected depository arranges for the deposit of the funds in certificates of deposit in one (1) or more federally insured banks or savings and loan associations, wherever located, for the account of the City. C. The full amount of principal and accrued interest of each such certificate of deposit is insured by the Federal Deposit Insurance Corporation. D. The selected depository acts as custodian for the City with respect to such certificates of deposit issued for its account. E. At the same time the City's funds are deposited and the certificates of deposit are issued, the selected depository receives an amount of deposits from customers of other federally insured financial institutions, wherever located, equal to or greater than the amount of the funds initially invested by the APDP 6.6.12 City through the selected depository. XVI. PROHIBITED INVESTMENTS The City is prohibited from investing in any company that engages in business with the countries of Iran and Sudan. The City Manager may promulgate specific requirements for the implementation of this provision based upon criteria applied by the Local Government Surplus Funds Trust Fund for such purpose. XVII. INVESTMENT POLICY REVIEW The Finance Director shall review this Investment Policy on an annual basis. Any recommended changes to this policy must be approved by the City Manager and subsequently by the City Commission. However, upon the initial approval of this Investment Policy by resolution of the City Commission, this Investment Policy shall be amended by the City Manager without the necessity of further action by the City Commission, to the extent that said amendments are necessary for conformance with any amendments made to Section 218.415, F.S. Originally Adopted — June 2 2009 (Resolution No. 2009 -30) Revised — September 22 2009 (Ordinance No. 2009 -17) Revised — November 1. 2011 (Resolution No. 2011 -61) Revised — July 8 2014 (Resolution No. 2014- ) T7 (O O CL 0 CL Q (0 H l4 E E 3 CO) X CU Q, N a4) Q � V N .a- 0 t r+ 7 Q >+ co co N N N N 6. 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N U C m '> A U) a O M N a U m 00 rn y o E 14 c 03 U C C Q m r m in U •00 a� m LL c 0_ `o ri v LL 0 T 7 iu E m c m d N Q H C13 U 7 n CL a) L O 0 0 Q) CD 7 as a7 L a) .c U C CD 0 U c 7 0U QT r c m E D a� L H o cc 0 �ss .O• S M � L NN a CL (r a) 0 $ f0 � N � l0 T 0 " a� L w U C a) N C 'O N C O U N T ca c 0 0 c N H OS ? m a CD CD 0 Q m N 7 a) O CL O J L 0 a 7 'O E n :? o � C CL O c y w CD ^ a O 7 � f6 N E U O O rn m � as NO3 T L a _m Y D U ca7 a M ,n w a) 7 cc m n E E v 7 � E E fc$ 0 U co c c CD (D a m L U au H U 7 0 a) C O C CD 'O O fl. a) cn c0 L 0 7 CL m f0 a) O O Q LA CD T LO C L w m CITY OF "ENTURA OFFICE OF THE CITY COMMISSION MEMORANDUM TO: City Commission FROM: Commissioner Billy Joe DATE: June 10, 2014 SUBJECT: City Clerk Evaluation On August 12, 2014, Teresa will celebrate her 18th year as our City Clerk and her 28th year in south Florida local government. I know that we all agree that we are fortunate to have her in that position. She has once again performed exceptionally well this past year. This year once again I utilized the formal evaluation process similar to that that which we adopted for assessing the performance of the City Manager. The performance categories were prepared for the duties of the City Clerk. Each criterion was rated based on the following rating system: 1 =Needs Strengthen /Improvements 2 =Meets Expectations 3= Excellent The following represents the Performance Categories and my ratings for this past year: 1. Corporate Secretary: - Records and maintains the official actions of the City Commission and its Advisory Boards. Custodian of the City seal. Administers the publication of the Code Book and supplements thereto. Provides for publication and distribution of public notices and legal advertisements as required by state law. Schedules Code Enforcement Hearings and provides administrative support to the Special Masters. Prepares and distributes agenda packages and recaps of Commission meetings. Assists City Manager's Office with special projects. Provides clerical support to City Commission, including mail, correspondence, travel and conference registration, preparation of proclamations and certificates. Score 3 2. Elections Supervisor: Coordinates municipal Elections. Serves as the Elections Supervisor, in conjunction with the Miami -Dade County Elections Department, for the 2014 Candidate Election. Maintains candidate campaign account reports, advises candidates on local, county and state election laws, will coordinate early voting and election day voting with Miami -Dade County, and will monitor the Canvassing Board actions. Score 3 3. Official Records Custodian: Maintains custody of City records, including Ordinances, Resolutions, Minutes, Agendas, contracts, agreements and other documents. Establishes and coordinates the City's records management program in compliance with state law. Coordinated destruction of 624.32 cu ft of City records in 2013 in accordance with state statutes. Responds to information requests from City Commissioners, Administration and the public in a timely and effective manner. Score 3 4. Professional Skills and Status: Knowledge of current developments affecting the municipal clerk's office. Respected by local and state elected and appointed officials and colleagues. Demonstrates a capacity for innovation and creativity. Carries out the directives of the City Commission. Informs the Commission where necessary of current issues and administrative developments in a timely manner. Receptive to constructive criticism and advice. Enforces the city's policies and ordinances. Offers workable alternatives to the governing body for changes where necessary. Score 3 5. Citizen and Community Relations: Responsive to complaints and requests from citizens. Has the capacity to listen to others and to recognize their interests and works well with others. Cooperates with neighboring communities. Selected and served on the City of Miami Beach City Clerk Selection Committee, as well as many other cities in past years. Cooperates and works well with other governmental agencies in the local and state areas. 6. Personal: Invests sufficient effort toward being diligent and thorough in the discharge of duties. Exercises good judgment. Is enthusiastic, cooperative and willing to adapt. She is a self- starter and possesses the necessary mental and physical stamina. Her composure, appearance and attitude are fitting for an individual in this position. In addition, Teresa has announced her retirement from her position as Aventura's first and only City Clerk effective after the November election. She has agreed to assist her replacement in the transition period and be available thereafter for assistance. In reiterating the above, every year since her first day, Teresa has conducted herself in a highly professional manner and has brought integrity and excellence to her office and all official duties. Based on the foregoing, I recommend a $18,000 net bonus ($1,000 for each year of service) be given to her. BJ /tms