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03-12-2019 Regular Commission Meeting Agenda City Manager City Commission Ronald J.Wasson ]Enid Weisman,Mayor Dr.Linda Marks,Vice Mayor City Clerk Denise Landman,Commissioner ]Elllisa L.Horvath,MMC Gladys Mezrahi,Commissioner i Marc Narotsky,Commissioner City Attorney Robert Shelley,Commissioner c, Weiss Scrota Helfman Howard Weinberg,Commissioner e�✓ G ,.nQ,�' Cole&Bierman CITY COMMISSION MEETING AGENDA March 12, 2019 Following the Local Planning Agency Meeting at 6:00 p.m. Aventura Government Center 19200 West Country Club Drive Aventura, Florida 33180 1. CALL TO ORDER\ROLL CALL 2. PLEDGE OF ALLEGIANCE 3. AGENDA: Request for Deletions/Emergency Additions 4. SPECIAL PRESENTATIONS: • Presentation of American Public Works Association Accreditation Plaque • School Reports 5. CONSENT AGENDA: Matters included under the Consent Agenda are self-explanatory and are not expected to require discussion or review. Items will be enacted by one motion. If discussion is desired by any member of the Commission, that item must be removed from the Consent Agenda and considered separately. If the public wishes to speak on a matter on the consent agenda they must inform the City Clerk prior to the start of the meeting. They will be recognized to speak prior to the approval of the consent agenda. A. APPROVAL OF MINUTES: • February 7, 2019 Commission Regular Meeting • February 21, 2019 Commission Regular Workshop Meeting B. MOTION AUTHORIZING THE APPROPRIATION OF UP TO $61,081.37 FOR SECURITY UPGRADES TO THE DON SOFFER AVENTURA HIGH SCHOOL FROM THE POLICE FEDERAL FORFEITURE FUND IN ACCORDANCE WITH THE CITY MANAGER'S MEMORANDUM. C. MOTION AUTHORIZING THE APPROPRIATION OF UP TO$12,000 FOR PUBLIC SECURITY ENHANCEMENTS TO THE GOVERNMENT CENTER FIRST FLOOR LOBBY FROM THE POLICE FEDERAL FORFEITURE FUND IN ACCORDANCE WITH THE CITY MANAGER'S MEMORANDUM. Aventura City Commission Meeting Agenda March 12, 2019 D. A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, APPROVING THE APPOINTMENT OF MEMBERS TO THE CITY OF AVENTURA COMMUNITY SERVICES ADVISORY BOARD FOR A ONE-YEAR TERM; AND PROVIDING FOR AN EFFECTIVE DATE. E. MOTION TO ACCEPT FOR FILING OF THE COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR) FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 AND THE LETTER DATED MARCH 5, 2019 ATTACHED HERETO AS ATTACHMENT A. F. A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA DEDICATING A TEN (10) FOOT WIDE EASEMENT TO FLORIDA POWER AND LIGHT ON THE DON SOFFER AVENTURA HIGH SCHOOL SITE; PROVIDING FOR RECORDATION; AND PROVIDING FOR AN EFFECTIVE DATE. G. A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE AND OTHERWISE ENTER INTO THE ATTACHED CHANGE ORDER "B" FOR THE AGREEMENT FOR CONSTRUCTION MANAGEMENT SERVICES WITH A GUARANTEED MAXIMUM PRICE WITH KAUFMAN LYNN CONSTRUCTION FOR THE AVENTURA CHARTER HIGH SCHOOL; AUTHORIZING THE CITY MANAGER TO TAKE NECESSARY AND EXPEDIENT ACTION TO CARRY OUT THE AIMS OF THIS RESOLUTION; PROVIDING FOR THE APPROPRIATION AND ALLOCATION OF FUNDS FOR SAID CHANGE ORDER; AND PROVIDING FOR AN EFFECTIVE DATE. 6. ZONING HEARINGS— QUASI-JUDICIAL PUBLIC HEARINGS: Please be advised that the following items on the Commission's agenda are quasi-judicial in nature. If you wish to object or comment upon any of these items,please inform the Mayor when she requests public comments. An opportunity for persons to speak on each item will be made available after the applicant and staff have made their presentations on each item. All testimony, including public testimony and evidence,will be made under oath or affirmation. Additionally,each person who gives testimony may be subject to cross-examination.If you refuse either to be cross-examined or to be sworn,your testimony will be given its due weight. The general public will not be permitted to cross-examine witnesses,but the public may request the Commission to ask questions of staff or witnesses on their behalf. Persons representing organizations must present evidence of their authority to speak for the organization. Further details of the quasi-judicial procedures may be obtained from the Clerk. None. 7. ORDINANCES—FIRST READING/PUBLIC HEARINGS: A. AN ORDINANCE OF THE CITY OF AVENTURA,FLORIDA AMENDING ARTICLE IX, "SIGN REGULATIONS," OF CHAPTER 31, "LAND DEVELOPMENT, REGULATIONS" OF THE CITY CODE TO ADD A DEFINITION OF AND REGULATION FOR TEMPORARY GRAPHIC WRAPS ON CONSTRUCTION FENCES; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE;AND PROVIDING FOR AN EFFECTIVE DATE. B. AN ORDINANCE OF THE CITY OF AVENTURA,FLORIDA,CREATING DIVISION 8 "DON SOFFER AVENTURA HIGH SCHOOL ADVISORY BOARD" OF ARTICLE III "ADVISORY BOARDS" OF CHAPTER 2 "ADMINISTRATION" OF THE CITY CODE BY CREATING SECTION 2-218 "CREATION AND QUALIFICATIONS," SECTION 2-219 "PROCESS FOR APPOINTMENT OF BOARD MEMBERS," SECTION 2-220 "JURISDICTION, DUTIES AND MEETINGS," SECTION 2-221 "RULES OF PROCEDURE; QUORUM," AND SECTION 2-222 "STANDARDS OF CONDUCT FOR MEMBERS"; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN EFFECTIVE DATE. Page 2 of 3 Aventura City Commission Meeting Agenda March 12, 2019 C. AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, AMENDING CHAPTER 10, ENTITLED "ANIMALS," OF THE CITY CODE BY AMENDING SECTION 10-1,ENTITLED "REMOVAL OF CANINE FECAL MATTER; CANINES TO BE LEASHED"; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN EFFECTIVE DATE. D. AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AMENDING ORDINANCE NO. 2018-18 WHICH ORDINANCE ADOPTED A BUDGET FOR THE 2018/2019 FISCAL YEAR BY REVISING THE 2018/2019 FISCAL YEAR OPERATING AND CAPITAL BUDGET AS OUTLINED IN EXHIBIT "A" ATTACHED HERETO; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS ORDINANCE; AND PROVIDING FOR AN EFFECTIVE DATE. 8. ORDINANCES—SECOND READING/PUBLIC HEARINGS: AN ORDINANCE OF THE CITY OF AVENTURA,FLORIDA,AMENDING CHAPTER 1 "GENERAL PROVISIONS," OF THE CITY CODE BY CREATING SECTION 1-18, "SALE OF NICOTINE VAPORIZERS (E-CIGARETTES) AND LIQUID NICOTINE TO MINORS PROHIBITED; SIGNAGE REQUIREMENTS; POSSESSION BY MINORS PROHIBITED; PENALTIES" AND SECTION 1-19 "USE OF NICOTINE VAPORIZERS AND LIQUID NICOTINE PROHIBITED NEAR CITY PARKS AND PUBLIC SCHOOLS; SIGNAGE REQUIREMENTS; ADDITIONAL RESTRICTIONS; PENALTIES"; PROVIDING FOR IMPLEMENTATION; PROVIDING FOR REPEAL; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN EFFECTIVE DATE. 9. RESOLUTIONS/PUBLIC HEARINGS: None. 10. REPORTS 11. PUBLIC COMMENTS 12. OTHER BUSINESS: None. 13. ADJOURNMENT FUTURE MEETINGS* *Meeting dates and times are subject to change.Please check the City's website for the most current schedule. REGULAR COMMISSION WORKSHOP—MARCH 21,2019 AT 9 AM EXECUTIVE CONFERENCE ROOM(5'H FLOOR) REGULAR COMMISSION MEETING—APRIL 2,2019 AT 6 PM COMMISSION CHAMBER REGULAR COMMISSION WORKSHOP—APRIL 11,2019 AT 9 AM EXECUTIVE CONFERENCE ROOM(5'H FLOOR) 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. One or more members of the City of Aventura Advisory Boards may be in attendance and may participate at the meeting. Anyone wishing to appeal any decision made by the Aventura City Commission with respect to any matter considered at such meeting or hearing will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim record of the proceedings is made,which record includes the testimony and evidence upon which the appeal is to be based. Agenda items may be viewed at the Office of the City Clerk, City of Aventura Government Center, 19200 W. Country Club Drive,Aventura,Florida,33180. Anyone wishing to obtain a copy of any agenda item should contact the City Clerk at 305-466-8901. Page 3 of 3 'The City of CITY COMMISSION Aventura Government Center A Aventura y������ REGULAR MEETING MINUTES 19200 W Country Club Drive �Y FEBRUARY 7, 2019 Aventura, Florida 33180 6:00 P.M. 1. CALL TO ORDER/ROLL CALL: The meeting was called to order by Mayor Enid Weisman at 6:00 p.m. The roll was called and the following were present: Mayor Enid Weisman, Vice Mayor Dr. Linda Marks, Commissioner Denise Landman, Commissioner Gladys Mezrahi, Commissioner Marc Narotsky, Commissioner Robert Shelley, Commissioner Howard Weinberg, City Manager Ronald J. Wasson, City Clerk Ellisa L. Horvath, and City Attorney David M. Wolpin. As a quorum was determined to be present, the meeting commenced. 2. PLEDGE OF ALLEGIANCE: The Pledge was led by Eli Borojovich. 3. AGENDA: REQUESTS FOR DELETIONS/EMERGENCY ADDITIONS: None. 4. SPECIAL PRESENTATIONS: • School Reports: The following provided updates on their schools: Eli Borojovich (ACES), Katrina Bass (Aventura Waterways) and Ariel Hartzy and Ally Ratner (Krop High School). Mayor Weisman recognized the following members of the Youth Advisory Board in attendance: Carolina Wesley (Aventura), Chloe Freitas (Aventura), and Valentina Baredes (Aventura), who provided comments. 5. CONSENT AGENDA: There were no requests from the public to address the Commission. Commissioner Narotsky requested that Item H on the Consent Agenda be removed. A motion to approve the remaining items on the Consent Agenda was offered by Commissioner Landman, seconded by Commissioner Weinberg, and passed unanimously by roll call vote. The following action was taken: A. Minutes approved as follows: • January 8, 2019 Commission Regular Meeting • January 17, 2019 Commission Regular Workshop Meeting B. Resolution No. 2019-06 adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA DECLARING CERTAIN PROPERTY LISTED UNDER THE ASSETS OF THE CITY AS SURPLUS TO THE NEEDS OF THE CITY; DESCRIBING THE MANNER OF DISPOSAL; AUTHORIZING THE CITY MANAGER TO 1)O 4 ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. Aventura City Commission Regular Meeting Minutes February 7, 2019 C. Resolution No. 2019-07 adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, APPROVING THE APPOINTMENT OF MEMBERS TO THE CITY OF AVENTURA ARTS IN PUBLIC PLACES ADVISORY BOARD FOR A TWO-YEAR TERM; AND PROVIDING FOR AN EFFECTIVE DATE. D. Motion approved as follows: MOTION AUTHORIZING THE APPROPRIATION OF UP TO $57,869 FOR STATIC LICENSE PLATE READERS FROM THE POLICE FEDERAL FORFEITURE FUNDS IN ACCORDANCE WITH THE CITY MANAGER'S MEMORANDUM. E. Resolution No. 2019-08 adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AUTHORIZING THE CITY MANAGER ON BEHALF OF THE CITY TO EXECUTE AND OTHERWISE ENTER INTO THE ATTACHED MUTUAL Am AGREEMENT BETWEEN THE CITY OF AVENTURA AND THE CITY OF CORAL GABLES FOR LAW ENFORCEMENT ACTIVITIES; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. F. Resolution No. 2019-09 adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA AUTHORIZING THE CITY MANAGER TO EXECUTE THE ATTACHED CONTRACT RENEWAL FOR LANDSCAPE MAINTENANCE WITHIN THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF- WAY ON BISCAYNE BOULEVARD FROM THE OLETA RIVER BRIDGE NORTH TO THE MIAMI-DADE/BROWARD COUNTY LINE BY AND BETWEEN THE CITY OF AVENTURA AND THE FLORIDA DEPARTMENT OF TRANSPORTATION; AUTHORIZING THE CITY MANAGER TO TAKE NECESSARY AND EXPEDIENT ACTION TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. G. Resolution No. 2019-10 adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA REVISING CHAPTER 6.6 OF THE ADMINISTRATIVE POLICY DIRECTIVES AND PROCEDURES MANUAL, AS ATTACHED HERETO, ENTITLED "INVESTMENT OBJECTIVES AND PARAMETERS" RELATING TO THE CITY'S INVESTMENT POLICY FOR THE MANAGEMENT OF PUBLIC FUNDS; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. Page 2 of 6 Aventura City Commission Regular Meeting Minutes February 7,2019 H. Removed from the Consent Agenda: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA ADOPTING THE CITY OF AVENTURA 2019 LEGISLATIVE PROGRAM AND PRIORITIES ATTACHED HERETO; AUTHORIZING THE CITY MANAGER TO TAKE. NECESSARY ACTION TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. Resolution No. 2019-12 adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA AMENDING PROCEDURES ESTABLISHED FOR COMMISSION TRAVEL AND EXPENSES; AUTHORIZING THE CITY MANAGER TO TAKE ALL NECESSARY ACTION TO IMPLEMENT THIS RESOLUTION; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. J. Resolution No. 2019-13 adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, CONDEMNING ANTI-SEMITISM ACTS BY AIRBNB, AND DIRECTING THE CITY CLERK TO SEND THIS RESOLUTION AND A LETTER TO THE FLORIDA ATTORNEY GENERAL'S OFFICE; PROVIDING FOR IMPLEMENTATION; AND PROVIDING FOR AN EFFECTIVE DATE. K. Resolution No. 2019-14 adopted as follows: CITY COMMISSION, ACTING IN ITS CAPACITY AS THE GOVERNING BOARD FOR THE AVENTURA CITY OF EXCELLENCE SCHOOL A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, ACTING IN THEIR CAPACITY AS THE BOARD OF DIRECTORS FOR THE AVENTURA CITY OF EXCELLENCE SCHOOL, AUTHORIZING THE CITY MANAGER TO SUBMIT A PROJECT APPLICATION FOR A STUDENT SUPPORT AND ACADEMIC ENRICHMENT GRANT FOR THE FUNDING OF PROFESSIONAL DEVELOPMENT ACTIVITIES, CLASSROOM MATERIALS AND PHYSICAL EDUCATION EQUIPMENT AT THE AVENTURA CITY OF EXCELLENCE SCHOOL; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. Item H: Mr. Wolpin read the following Resolution by title: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA ADOPTING THE CITY OF AVENTURA 2019 LEGISLATIVE PROGRAM AND PRIORITIES ATTACHED HERETO; AUTHORIZING THE CITY MANAGER TO TAKE NECESSARY ACTION TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. Page 3 of 6 Aventura City Commission Regular Meeting Minutes February 7,2019 A motion to approve the Resolution (adopting the items of the Legislative Program, excluding Item #9) was offered by Commissioner Shelley and seconded by Commissioner Narotsky. Mayor Weisman opened the public hearing. There being no speakers, the public hearing was closed. The motion for approval of the Resolution (excluding item #9) passed unanimously, by roll call vote. Commissioner Narotsky recused himself from voting on Item #9 of the Legislative Program due to a conflict and left the meeting) A motion to approve the Resolution (as to solely the portion adopting Item #9 of the Legislative Program) was offered by Commissioner Shelley and seconded by Commissioner Landman. Mayor Weisman opened the public hearing. There being no speakers, the public hearing was closed. Mr. Wolpin explained Item #9 (Amend Safe Harbor provisions — Fla. Stat. 718.116(1)(b) condos and 720.3085(2)(c) HOAs - to increase the liability of qualified lending institutions to the lesser of twenty four months of past due assessments or two percent of the original mortgage in the event of a foreclosure plus recovery of reasonable attorney fees). Commissioner Weinberg provided comments on the importance of continuing to follow the item, with the intention to protect condominium owners. The motion for approval of the Resolution (Item #9) passed unanimously by roll call vote and Resolution No. 2019-11 was adopted. Commissioner Narotsky returned to the meeting. 6. ZONING HEARINGS: QUASI-JUDICIAL PUBLIC HEARINGS: None. 7. ORDINANCES - FIRST READING — PUBLIC HEARINGS: Mr. Wolpin read the following Ordinance by title: AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, AMENDING CHAPTER 1 "GENERAL PROVISIONS," OF THE CITY CODE BY CREATING SECTION 1-18, "SALE OF NICOTINE VAPORIZERS (E-CIGARETTES) AND LIQUID NICOTINE TO MINORS PROHIBITED; SIGNAGE REQUIREMENTS; POSSESSION BY MINORS PROHIBITED; PENALTIES" AND SECTION 1-19 "USE OF NICOTINE VAPORIZERS AND LIQUID NICOTINE PROHIBITED NEAR CITY PARKS AND PUBLIC The Memorandum of Voting Conflict (Form 8B) for Commissioner Narotsky is attached to the minutes as required. Page 4 of 6 Aventura City Commission Regular Meeting Minutes February 7, 2019 SCHOOLS; SIGNAGE REQUIREMENTS; ADDITIONAL RESTRICTIONS; PENALTIES"; PROVIDING FOR IMPLEMENTATION; PROVIDING FOR REPEAL; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN CODE; AND PROVIDING FOR AN EFFECTIVE DATE. A motion for approval of the ordinance was offered by Commissioner Shelley and seconded by Vice Mayor Dr. Marks. Mr. Wolpin reviewed the item. Mayor Weisman opened the public hearing. The following members of the public provided comments: Carolina Wesley (Aventura), Chloe Freitas (Aventura), and Valentina Baredes (Aventura). There being no additional speakers, the public hearing was closed. The motion for approval of the ordinance on first reading passed unanimously, by roll call vote. 8. ORDINANCES - SECOND READING/PUBLIC HEARINGS: None. 9. RESOLUTIONS/PUBLIC HEARINGS: None. 10. REPORTS: Vice Mayor Dr. Marks wished resident Marjorie Rosenblatt a happy birthday. Per Commissioner Landman's request, Chief Pegues provided information on the upcoming Ride with the Aventura Police event in February. Commissioner Mezrahi provided information on the Vital Voices Miami Mentoring Walk in March. Commissioner Shelley offered condolences to Vice Mayor Dr. Marks on the loss of her mother. Commissioner Weinberg pointed out the importance of the Resolution condemning anti- Semitism acts by Airbnb, which was approved as Item J on the Consent Agenda. 11. PUBLIC COMMENTS: Mr. Wolpin provided information on the process for public comments. The following members of the public provided comments: Pedro Salas (Southview, Aventura), Yvonne Amato (The Atrium - 188th Street, Aventura), Jeannie Stofman (3630 Yacht Club Drive, Aventura), Vivian Shapiro (One Island Place #1004), Leah Kirson (Harborside - 3640 Yacht Club Drive #203, Aventura), Carolina Wesley (Aventura), Chloe Freitas (Aventura), and Valentina Baredes (Aventura). Page 5 of 6 Aventura City Commission Regular Meeting Minutes February 7. 2019 12. OTHER BUSINESS: None. 13. ADJOURNMENT: There being no further business to come before the Commission, a motion to adjourn was offered by Commissioner Narotsky, seconded by Commissioner Landman, and unanimously approved; thus adjourning the meeting at 6:52 p.m. Ellisa L. Horvath, MMC, City Clerk Approved by the City Commission on March 12, 2019. Page 6 of 6 FORM 8B MEMORANDUM OF VOTING CONFLICT FOR COUNTY, MUNICIPAL, AND OTHER LOCAL PUBLIC OFFICERS LAST NAME—FIRST NAME—MIDDLE NAME NAME OF BOARD,COUNCIL.COMMISSION.AUTHORITY.OR COMMITTEE Narotsky, Marc E. Aventura City Commission MAILING ADDRESS THE BOARD,COUNCIL.COMMISSION,AUTHORITY OR COMMITTEE ON 19200 W. Country Club Drive WHICH I SERVE ISA UNIT OF: CITY COUNTY id am COUNTY O OTHER LOCAL AGENCY Aventura Miami-Dade NAME OF POLITICAL SUBDIVISION. DATE ON WHICH VOTE OCCURRED City of Aventura February7, 2019 MY POSMON IS: ar ELECTIVE ❑ APPOINTIVE WHO MUST FILE FORM 9B This form is for use by any person serving at the county,city,or other local level of government on an appointed or elected board,council. commission,authority, or committee. It applies to members of advisory and non-advisory bodies who are presented with a voting conflict of interest under Section 112.3143, Florida Statutes. Your responsibilities under the law when faced with voting on a measure in which you have a conflict of interest will vary greatly depending on whether you hold an elective or appointive position. For this reason, please pay close attention to the instructions on this form before completing and filing the form. INSTRUCTIONS FOR COMPLIANCE WITH SECTION 112.3143, FLORIDA STATUTES A person holding elective or appointive county, municipal, or other local public office MUST ABSTAIN from voting on a measure which would inure to his or her special private gain or loss. Each elected or appointed local officer also MUST ABSTAIN from knowingly voting on a measure which would inure to the special gain or loss of a principal (other than a government agency)by whom he or she is retained (including the parent,subsidiary,or sibling organization of a principal by which he or she is retained); to the special private gain or loss of a relative;or to the special private gain or loss of a business associate. Commissioners of community redevelopment agencies(CRAs)under Sec. 163.356 or 163.357, F.S., and officers of independent special tax districts elected on a one-acre, one-vote basis are not prohibited from voting in that capacity. For purposes of this law, a'relative'includes only the officer's father, mother, son, daughter, husband, wile, brother, sister, father-in-law, mother-in-law, son-in-law, and daughter-in-law.A'business associate' means any person or entity engaged in or carrying on a business enterprise with the officer as a partner,joint venturer coowner of property, or corporate shareholder(where the shares of the corporation are not listed on any national or regional stock exchange). ELECTED OFFICERS: In addition to abstaining from voting in the situations described above,you must disclose the conflict: PRIOR TO THE VOTE BEING TAKEN by publicly stating to the assembly the nature of your interest in the measure on which you are abstaining from voting;and WITHIN 15 DAYS AFTER THE VOTE OCCURS by completing and filing this farm with the person responsible for recording the minutes of the meeting,who should incorporate the form In the minutes. APPOINTED OFFICERS: Although you must abstain from voting in the situations described above, you are not prohibited by Section 112.3143 from otherwise participating in these matters. However, you must disclose the nature of the conflict before making any attempt to influence the decision, whether orally or in writing and whether made by you or at your direction. IF YOU INTEND TO MAKE ANY ATTEMPT TO INFLUENCE THE DECISION PRIOR TO THE MEETING AT WHICH THE VOTE WILL BE TAKEN: • You must complete and file this form(before making any attempt to influence the decision)with the person responsible for recording the minutes of the meeting,who will incorporate the form in the minutes. (Continued on page 2) CE FORM 80-EFF 112013 PAGE 1 Adopted by reference In Rule 34-7.0ID(1)(f),FA C. APPOINTED OFFICERS (continued) • A copy of the form must be provided immediately to the other members of the agency. • The form must be read publicly at the next meeting after the form is filed. IF YOU MAKE NO ATTEMPT TO INFLUENCE THE DECISION EXCEPT BY DISCUSSION AT THE MEETING: • You must disclose orally the nature of your conflict in the measure before participating. • You must complete the form and file it within 15 days after the vote occurs with the person responsible for recording the minutes of the meeting,who must incorporate the form in the minutes.A copy of the form must be provided immediately to the other members of the agency,and the form must be read publicly at the next meeting after the form is filed. DISCLOSURE OF LOCAL OFFICER'S INTEREST Marc E. Narotsky ,hereby disclose that on February 7 20 19 (a)A measure came or will come before my agency which(check one or more) inured to my special private gain or loss; inured to the special gain or loss of my business associate, • inured to the special gain or loss of my relative, inured to the special gain or loss of by whom I am retained;or inured to the special gain or loss of ,which is the parent subsidiary,or sibling organization or subsidiary of a principal which has retained me. (b)The measure before my agency and the nature of my conflicting interest in the measure is as follows: Agenda Item 5-H-#9 of the 2019 Legislative Program and Priorities List is related to my professional activities as a neutral third party mediator. If disclosure of specific information would violate confidentiality or privilege pursuant to law or rules governing attorneys, a public officer, who is also an attorney, may comply with the disclosure requirements of this section by disclosing the nature of the interest in such a way as to provide the public with notice of the conflict. February Date Filed Signature M arc g , •• 4rp}5k1 NOTICE: UNDER PROVISIONS OF FLORIDA STATUTES §112.317, A FAILURE TO MAKE ANY REQUIRED DISCLOSURE CONSTITUTES GROUNDS FOR AND MAY BE PUNISHED BY ONE OR MORE OF THE FOLLOWING: IMPEACHMENT, REMOVAL OR SUSPENSION FROM OFFICE OR EMPLOYMENT, DEMOTION, REDUCTION IN SALARY, REPRIMAND. OR A CIVIL PENALTY NOT TO EXCEED$10,000. CE FORM ee-EFF 1112013 PAGE 2 Adopted by reference in Rule 34-7 010(1)(f),FAA. The City of CITY COMMISSION WORKSHOP MEETING MINUTESAventura Government Center AventuraFEBRUARY 21, 2019 19200 W Country Club Drive Aventura, Florida 33180 9:00 A.M. 1. CALL TO ORDER/ROLL CALL: The meeting was called to order by Mayor Enid Weisman at 9:02 a.m. The following were present: Mayor Enid Weisman, Vice Mayor Dr. Linda Marks, Commissioner Denise Landman, Commissioner Gladys Mezrahi, Commissioner Marc Narotsky, Commissioner Robert Shelley, Commissioner Howard Weinberg, City Manager Ronald J. Wasson, City Clerk Ellisa L. Horvath, and City Attorney Matthew H. Mandel. As a quorum was determined to be present, the meeting commenced. 2. SELECTION OF COMMUNITY SERVICES ADVISORY BOARD MEMBERS (City Manager): Mr. Wasson reviewed the list of current Board members that would like to be reappointed, with the exception of Bonnie Lotterman who will be moving out of the City. He recommended that Annette Weissman, who had submitted an application to serve, be appointed as Mrs. Lotterman's replacement on the Board. City Manager Summary: It was the consensus of the Commission to proceed with placing a resolution on the March Commission Meeting Agenda appointing the following members to the Board: Jonathan Evans, Sandra Kaplan, Daniel Naim, David Pulver, Michael Stern, Sherry Superfine, and Annette Weissman. 3. PROPOSED AMENDMENT TO CITY CODE CHAPTER 31, ARTICLE XII, NON CONFORMING USES AND STRUCTURES (City Manager): Mr. Wasson provided introductory remarks and Community Development Director Joanne Carr explained the proposed amendment to the City Code, as outlined in the agenda memorandum. James Carmichael, Owner and Operator (Imperial Club Assisted Living Facility — NE 183 Street) and Michael Marrero, Esq. reviewed the proposed changes to the Imperial Club, including the enclosure of the existing outdoor pool area to provide a 10,000 square foot addition. It was explained that the improvements would require an amendment to the City Code for the legal non-conforming building, since it was built before the City of Aventura incorporated. City Manager Summary: It was the consensus of the City Commission to proceed with placing an ordinance on a future Commission Meeting Agenda amending the City Code for non-conforming uses and structures as presented. Additionally, to meet with the developer regarding the allowance of additional employees. 4. PROPOSED AMENDMENT TO CITY SIGN CODE (City Manager): Mr. Wasson explained the proposed amendment to provide regulations for temporary graphic wrap for construction fences, in response to a request received. Community Development Director Joanne Carr further explained the proposed regulations, as outlined in the agenda memorandum. City Manager Summary: It was the consensus of the City Commission to proceed with placing an ordinance on the March Commission Meeting Agenda amending the City Sign Code as presented. Aventura City Commission Regular Workshop Meeting Minutes—February 21, 2019 5. UPDATE ON DON SOFFER AVENTURA HIGH SCHOOL (Vice Mayor Dr. Marks): Vice Mayor Dr. Marks provided an update from the most recent Commission Liaison Meeting including the following items: School Advisory Board, curriculum, and transportation. A proposed Ordinance creating the Don Soffer Aventura High School Advisory Board was distributed and reviewed by the Commission. The Commission discussed the need to have the following additional information in order to make a decision on providing transportation for students within two miles of the school: number and location of students within two miles, number of students interested in using the bus if provided, cost for additional buses, the fee charged by other schools for providing buses to students, data from ACES on bus usage, the possibility of using the shuttle buses, and the use of parking facilities at Gulfstream. City Manager Summary: It was the consensus of the Commission to proceed with placing an ordinance on the March Commission Meeting Agenda creating the Don Soffer Aventura High School Advisory Board, as presented, and for the positions to be advertised followed by interviews at a Commission Liaison Meeting. Additionally, consensus was given for Vice Mayor Dr. Marks to work with Charter Schools USA on the curriculum. Finally, for the information requested on transportation to be provided at the next Workshop Meeting, along with the City Manager's recommendation. 6. DISCUSSION OF PROPOSED RESOLUTION SUPPORTING THE NEWLY RECOGNIZED PRESIDENT OF VENEZUELA (Commissioner Mezrahi): Commissioner Mezrahi requested that the Commission consider adopting a resolution supporting the recognition of Juan Guaido as the new Interim President of Venezuela. Carmen Gimenez - USA Refugees and Immigrants, read Resolution No. 2019-011 adopted by the City of Hallandale Beach. City Manager Summary: It was the consensus of the City Commission for the City Attorneys to review similar resolutions adopted by other municipalities on the item and to provide the Commission with options at the next Workshop Meeting. The following additional items were discussed: Mr. Wasson provided information on the screening that will be provided for the water slide at the JW Marriott Miami Turnberry Resort & Spa in Aventura. In response to inquiries by the Commission and following discussion, information on the opportunity zones in the City, established by the State to stimulate development, will be provided at the next Workshop Meeting. The Commission discussed Dade Days in Tallahassee. Commissioner Landman discussed her possible attendance and Commissioner Mezrahi reported her attendance on April 3, 2019. Mr. Wasson discussed the possibility of traveling to Tallahassee again before Dade Days. Page 2 of 3 Aventura City Commission Regular Workshop Meeting Minutes—February 21, 2019 Following discussion, it was the consensus of the Commission to provide a barbecue lunch recognizing the City's volunteers on May 5, 2019. Mr. Wasson reported on various items including the following: increasing fines for non- removal of canine fecal matter, signage at 188th Street water walkways, and the Aventura City Talk program at the library scheduled for March 28, 2019 at 6:00 p.m. 7. ADJOURNMENT: There being no further business to come before the Commission, the meeting was adjourned by consensus at 11:14 a.m. Ellisa L. Horvath, MMC, City Clerk Approved by the City Commission on March 12, 2019. Page 3 of 3 CITY OF AVENTURA OFFICE OF THE CITY MANAGER MEMORANDUM TO: City Commission / FROM: Ronald J. Wasson, City Manager 4 DATE: February 20, 2019 SUBJECT: Disbursement of Police Federal Forfeiture Funds March 12, 2019 City Commission Meeting Agenda Item 55 RECOMMENDATION It is recommended that the City Commission adopt the following Motion to expend funds from the Police Federal Forfeiture Fund: "Motion authorizing the appropriation of up to $61,081.37 for security upgrades to the Don Soffer Aventura High School from the Police Federal Forfeiture Fund in accordance with the City Manager's Memorandum". If you have any questions, please feel free to contact me. RJW/act Attachment CC01782-19 CITY OF AVENTURA POLICE DEPARTMENT INTER OFFICE MEMORANDUM TO: Ronald J. Wasson, City Manager FROM: Bryan Pegues, Chief of Police DATE: February 19, 2019 SUBJECT: Use of Federal Forfeiture Funds The Federal Equitable Sharing Agreement (FESA), Section VIII allows for the use of federally forfeited funds for law enforcement. Section IX, A9 of the Federal Equitable Sharing agreement requires that the funds be expended only upon request of the Chief of Police to the governing body of the municipality and approval of the governing body. I am requesting City Commission approval for the expenditure of these monies for: Security upgrades to the Don Soffer Aventura High School - $61,081.37 CITY OF AVENTURA OFFICE OF THE CITY MANAGER MEMORANDUM TO: City Commission FROM: Ronald J. Wasson, City Manager DATE: February 26, 2019 SUBJECT: Disbursement of Police Federal Forfeiture Funds March 12, 2019 City Commission Meeting Agenda Item C. RECOMMENDATION It is recommended that the City Commission adopt the following Motion to expend funds from the Police Federal Forfeiture Fund: "Motion authorizing the appropriation of up to $12,000 for public security enhancements to the Government Center first floor lobby from the Police Federal Forfeiture Fund in accordance with the City Manager's Memorandum". If you have any questions, please feel free to contact me. RJW/act Attachment CC01788-19 CITY OF AVENTURA POLICE DEPARTMENT INTER OFFICE MEMORANDUM TO: Ronald J. Wasson, City Manager FROM: Bryan Pegues, Chief of Police DATE: February 26, 2019 SUBJECT: Use of Federal Forfeiture Funds The Federal Equitable Sharing Agreement (FESA), Section VIII allows for the use of federally forfeited funds for law enforcement. Section IX, A9 of the Federal Equitable Sharing agreement requires that the funds be expended only upon request of the Chief of Police to the governing body of the municipality and approval of the governing body. I am requesting City Commission approval for the expenditure of these monies for: Public Security Enhancements to the Government Center 15t floor lobby - $12,000 CITY OF AVENTURA OFFICE OF THE CITY MANAGER MEMORANDUM TO: City Commission / 4 FROM: Ronald J. Wasson, City Manage DATE: February 22, 2019 SUBJECT: Resolution Appointing Members to the Community Services Advisory Board March 12, 2019 City Commission Meeting Agenda Item 517 Based on the recommendations discussed at the February Workshop Meeting, the following individuals are included in the attached Resolution for appointment to the Community Services Advisory Board: Jonathan Evans Sandra Kaplan Daniel Naim David Pulver Michael Stern Sherry Superfine Annette Weissman RJW/act Attachment CC01783-19 RESOLUTION NO. 2019- A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, APPROVING THE APPOINTMENT OF MEMBERS TO THE CITY OF AVENTURA COMMUNITY SERVICES ADVISORY BOARD FOR A ONE-YEAR TERM; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Section 2-121 of the Aventura City Code provides for the creation of the Community Services Advisory Board; and WHEREAS, in accordance with the provisions of Section 3.11 of the Aventura City Charter, the City Commission wishes to provide for approval of the Mayor's appointment of members to the Community Services Advisory Board. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, THAT: Section 1. The City Commission hereby approves the appointment by the Mayor of the following individuals to serve as members of the Community Services Advisory Board for a term of one year, from March 2019 through March 2020: Jonathan Evans Sandra Kaplan Daniel Naim David Pulver Michael Stern Sherry Superfine Annette Weissman Section 2. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution was offered by Commissioner , who moved its adoption. The motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman City of Aventura Resolution No. 2019- PASSED AND ADOPTED this 12th day of March, 2019. ENID WEISMAN, MAYOR ATTEST: ELLISA L. HORVATH, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY Page 2 of 2 CITY OF AVENTURA FINANCE DEPARTMENT MEMORANDUM TO: City Commission FROM: Ronald J. Wasson, City Manager BY: Brian K. Raducci, Finance Director DATE: March 5, 2019 SUBJECT: Comprehensive Annual Financial Report(CAFR) Fiscal Year Ended September 30, 2018 March 12, 2019 City Commission Meeting Agenda Item SE Recommendation It is recommended that the City Commission approve the following motion: "Motion to accept for filing of the Comprehensive Annual Financial Report (CAFR) for the fiscal year ended September 30, 2018 and the letter dated March 5, 2019 attached hereto as Attachment A." Background The CAFR, a letter from our independent auditors — Caballero Fierman Llerena & Garcia LLP and a staff-prepared memorandum (dated March 5 and March 7, 2019, respectively), were distributed electronically to the City Commission on March 7, 2019. The Rules of the Auditor General, Chapter 10.550, require that the CAFR be filed as an official record at a public meeting. This motion satisfies that requirement. In addition, the auditors have requested that their letter dated March 5, 2019, identified as "Attachment A" on the staff-prepared memorandum, be accepted for filing with the City Commission. A representative from the auditing firm will be present at the March 1291 City Commission meeting. However, since the CAFR is the City's responsibility, I respectfully request that any questions be discussed with the City Manager prior to the meeting. BKR/bkr ATTACHMENT A A Letter from our Independent Auditors— Caballero Fierman Llerena&Garcia, LLP Dated March 5, 2019 CF CABALLERO FIERMAN L LLERENA GARCIA LLP LG accountants I advisors March 5,2019 Honorable Mayor, Members of the City Commission and Management City of Aventura, Florida We have audited the financial statements of the governmental activities,the business-type activities,each major fund, and the aggregate remaining fund information of the City of Aventura, Florida (the 'City'), for the fiscal year ended September 30, 2018. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards,as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you dated September 28, 2018. Professional standards also require that we communicate to you the following information related to our audit. Significant Audit Matters Qualitative Aspects of Accounting Practices Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the City are described in Note 1 to the financial statements. No new accounting policies were adopted and the application of existing policies was not changed during 2018 except for the implementation of Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Posternployment Benefits Other Than Pensions. We noted no transactions entered into by the City during the fiscal year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period. Accounting estimates are an integral part of the financial statements prepared by management and are based on managements knowledge and experience about past and current events and assumptions about future events.Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected.The most sensitive estimate affecting the financial statements was: Managements estimate of collectability of accounts receivable and postretirement obligations. We evaluated the key factors and assumptions used to develop the estimate of collectability of accounts receivable and postretirement obligations in determining that itis reasonable in relation to the financial statements taken as a whole. Certain financial statement disclosures are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting the financial statements were: The disclosure of the deposits and investments in Note 3 to the financial statements. The disclosure of fair value measurements in Note 4 to the financial statements. The disclosure of commitments and contingencies in Note 9 to the financial statements. The disclosure of risk management in Note 10 to the financial statements. The financial statement disclosures are neutral,consistent,and clear. Difficulties Encountered in Performing the Audit We encountered no difficulties in dealing with management in performing and completing our audit. Corrected and Uncorrected Misstatements Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are trivial,and communicate them to the appropriate level of management. Management has corrected all such misstatements. There were no uncorrected misstatements. i 4649 Ponce de Leon Blvd I Suite 404 I Coral Gables,FL 33146 T:305.662.7272 F:305.662.4266 I CFLGCPA.COM Disagreements with Management For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction,that could be significant to the financial statements or the auditors'report. We are pleased to report that no such disagreements arose during the course of our audit Management Representations We have requested certain representations from management that are included in the management representation letter dated March 5,2019. Management Consultations with Other Independent Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a 'second opinion' on certain situations. If a consultation involves application of an accounting principle to the City's financial statements or a determination of the type of auditor's opinion that may be expressed on those statements,our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts.To our knowledge,there were no such consultations with other accountants. Other Audit Findings or Issues We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the governmental units auditors.However,these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention. Other Matters We applied certain limited procedures to Management's Discussion and Analysis, the Budgetary Companson Schedules, the Schedule of Changes in City's Net Pension Liability and Related Ratios, the Schedule of City's Contributions, and the Schedule of Changes in Total Liability and Related Ratios-Other Post-Employment Benefits, which are required supplementary information(RSI)that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI. We were engaged to report on the Combining Non Major Fund Financial Statements, which accompany the financial statements but are not RSI. With respect to this supplementary information,we made certain inquiries of management and evaluated the form,content,and methods of preparing the information to determine that the information complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements.We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves. We were not engaged to report on the introductory and statistical sections,which accompany the financial statements but are not RSI. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly,we do not express an opinion or provide any assurance on it. Restriction on Use This information is intended solely for the information and use of the City Commission and management of the City of Aventura, Florida,and is not intended to be, and should not be, used by anyone other than these specified parties. Very truly yours, &baa to fie/WO Leereea & garcia, LIP 2 4649 Ponce de Leon Blvd I Suite 4041 Coral Gables,FL 33146 T:305.662.7272 F:305.662.42661 CFLGCPA.COM e AVE, The City of AVENTUR,A, FLOf IDA � f t . 1 � r 1 11�f ll� _fir` f r Comprehensive Annual Financial Report For The Fiscal Year Ended September 30, 2018 COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE CITY OF AVENTURA, FLORIDA FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 QZd 11�� X11 11 I Ii 11 1 i, 1■ 1/ 1■ 1/ �t j e L Prepared By The Finance Department Brian K. Raducci, Finance Director Brent Rogers, Controller CITY OF AVENTURA, FLORIDA TABLE OF CONTENTS PAGES I. INTRODUCTORY SECTION (UNAUDITED) Letter of Transmittal i-vii List of Principal Officials viii Organizational Chart ix GFOA Certificate of Achievement x II. FINANCIAL SECTION Independent Auditors' Report 1-2 Management's Discussion and Analysis(Unaudited) 3-11 Basic Financial Statements: Government-Wide Financial Statements: Statement of Net Position 12 Statement of Activities 13 Fund Financial Statements: Balance Sheet—Governmental Funds 14 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position 15 Statement of Revenues, Expenditures and Changes in Fund Balances — Governmental Funds 16 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 17 Statement of Net Position—Proprietary Fund 18 Statement of Revenues, Expenses and Changes in Net Position—Proprietary Fund 19 Statement of Cash Flows—Proprietary Fund 20 Statement of Net Position—Fiduciary Fund- Police Officers' Retirement Plan 21 Statement of Changes in Net Position—Fiduciary Fund- Police Officers' Retirement Plan 22 Notes to Basic Financial Statements 23-49 REQUIRED SUPPLEMENTARY INFORMATION: Budgetary Comparison Schedules: General Fund 50 Street Maintenance Fund 51 Charter High School Construction Fund 52 Schedule of Changes in City's Net Pension Liability and Related Ratios 53 Schedule of City's Contributions 54-55 Schedule of Changes in Total Liability and Related Ratios—Other Post-Employment Benefits 56 Notes to Required Supplementary Information 57 SUPPLEMENTARY INFORMATION: Combining Fund Financial Statements: Combining Balance Sheet—Nonmajor Governmental Funds 58 Combining Statement of Revenues, Expenditures and Changes in Fund Balances — Nonmajor Governmental Funds 59 Budgetary Comparison Schedules: Schedules of Revenues, Expenditures and Changes in Fund Balance—Budget and Actual - Special Revenue Funds 60-61 Schedules of Revenues, Expenditures and Changes in Fund Balance—Budget and Actual - Capital Projects Fund 62 Schedules of Revenues, Expenditures and Changes in Fund Balance—Budget and Actual - Debt Service Funds 63-67 CITY OF AVENTURA, FLORIDA TABLE OF CONTENTS PAGES III. STATISTICAL SECTION (UNAUDITED) Net Position by Component 68 Changes in Net Position 69-70 Governmental Activities Tax Revenues by Source 71 Fund Balances of Governmental Funds 72 Changes in Fund Balances of Governmental Funds 73 General Governmental Revenues by Source 74 Assessed Value and Estimated Actual Assessed Value of Taxable Property 75 Property Tax Rates—Direct and Overlapping Governments 76-77 Principal Property Taxpayers 78 Property Tax Levies and Collections 79 Ratios of Outstanding Debt by Type 80 Ratios of General Bonded Debt Outstanding 81 Direct and Overlapping Governmental Activity Debt 82 Legal Debt Margin Information 83 Demographic and Economic Statistics 84 Occupational Employment by Group—Miami-Dade County, Florida 85 Full-Time Equivalent City Government Employees by Function 86 Operating Indicators by Function 87 Capital Asset Statistics by Function 88 IV. COMPLIANCE SECTION Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 89-90 Management Letter in Accordance with the Rules of the Auditor General of the State of Florida 91-92 Independent Accountants' Report on Compliance Pursuant to Section 218.415 Florida Statutes 93 INTRODUCTORY SECTION City ®f Aventura Government Center 19200 West Country Club Drive Aventura, Florida 33180 ENID WEISMAN MAYOR March 5, 2019 COMMISSIONERS DENISE LANDMAN DR.LINDA MARKS GLADYS MEZRAHI To the Honorable Mayor, MARC NAROTSKY Members of the City Commission ROBERT SHELLEY and Citizens of the HOWARD WEINBERG City of Aventura, Florida RONALD J.WASSON CITY MANAGER In accordance with Section 11.45(3)(a) (4), Florida Statutes, and Article I, Section 4.11 of the City of Aventura (the "City") Charter, we hereby submit the City's Comprehensive Annual Financial Report (the "CAFR") for the fiscal year ended September 30, 2018. The CAFR includes an Introductory, Financial, Statistical and Compliance section. The financial statements included in the CAFR conform to accounting principles generally accepted in the United States ("GAAP") as set forth by the Governmental Accounting Standards Board ("GASB"). Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal control that has been established for this purpose. Because the cost of internal controls should not exceed their anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. We believe this data fairly reflects the financial position of the City and the results of its operation. The Certified Public Accounting firm of Caballero Fierman Llerena & Garcia, LLP has issued an unmodified ("clean") opinion on the City's financial statements for the fiscal year ended September 30, 2018. The independent auditors' report is located at the front of the Financial Section of this report. Management's Discussion and Analysis ("MD&A") immediately follows the independent auditors' report and provides a narrative introduction, overview and analysis of the basic financial statements. MD&A complements this letter of transmittal and should be read in conjunction with it. PROFILE OF THE GOVERNMENT The City was incorporated on November 7, 1995 and is a political subdivision of the State of Florida. It is located on the Intracoastal Waterway in northeast Miami-Dade County (the "County") between Miami and Fort Lauderdale. The City is 3.2 square miles and serves a population of more than 37,000 residents and 2,400 businesses. Pursuant to its Charter, the City operates under a commission-manager form of government. Under this form of government the City Commission (the "Commission") and the City Manager are the legislative and executive branches of the government, respectively. The Commission enacts i PHONE: 305-466-8900 ■ FAX: 305-466-8939 www.cityofaventura.com Ordinances, the laws of the City, adopts Resolutions authorizing actions on behalf of the City, reviews plans for development and establishes the policies by which the City is governed. The City Manager is the City's Chief Executive Officer who oversees the day-to-day operations, administers the City's service providers, prepares long range plans and implements the policies established by the Commission. The Commission is comprised of seven (7) members, including the Mayor and six (6) Commissioners. The Mayor is the ceremonial leader of the City and is considered to be "part-time." The Mayor is elected at large to a four-year term. Each Commissioner has the same authority and ability to bring matters to and to discuss and vote on matters before the Commission. A Commissioner is considered to be "part-time" and is elected to serve a four-year term. For election purposes, the William Lehman Causeway divides the City into two areas. The City Charter requires that two (2) Commissioners reside in the northern area and two (2) Commissioners reside in the southern area and two (2) Commissioners and the Mayor shall be elected without regard to residence in any particular area. Mission Statement Our mission is to join with our community to make Aventura a city of the highest quality and a city of excellence. We do this by providing RESPONSIVE, COST EFFECTIVE AND INNOVATIVE local government services. The City employs 166 full-time positions and provides high-quality public services including General Government, Police, Community Services and Public Works/Transportation to its residents and business community. In FY 2017/18, the Commission addressed the following priorities/goals either through formal adoption or supporting them through policy and/or initiatives: Enhance the safety and security of our residents and businesses: • Implemented community outreach initiates to engage the community in joint problem solving and crime prevention techniques. • Added 4 new Police Officer positions in accordance with the Aventura Mall Police Services Agreement, to enhance safety and security as part of the Mall's recent expansion. • Improved communications with the community by expanding social media and the Police Department's community policing efforts. • Increased police service overtime costs to meet increased demands and community safety. Provide and support quality educational choices for Aventura students to succeed academically and become productive citizens: • Continued to operate the Aventura City of Excellence School K-8 as an "A" rated high performing school and provide support services thorough various City departments. • Continued to take the necessary steps to ensure the opening of the Don Soffer Aventura High School by August 2019 including the funding of the upfront construction costs. Maintain efficient and responsive government which embraces the highest standards of service and financial stability. • Had no increase in the tax rate for the 22nd year in a row. • Continued to focus on maintaining the City's infrastructure by funding capital outlay projects from park improvements to road resurfacing expenditures in the amount of$1,289,500. • Maintained healthy reserves to address economic challenges and unforeseen emergencies. ii • Continued the model of privatizing many City service areas while maintaining a small workforce which has allowed for a more cost effective service delivery system, as compared to the traditional government structure. • Continued to utilize technology to improve productivity and expand E-government applications. Continue to explore alternate transportation modes to alleviate traffic and support bicycle friendly initiatives: • Continued to fund the free Aventura Express Shuttle Bus system that serves nearly 26,000 riders a month and extend service to new developments. • Implemented recommendations in the Unfiled Master Plan for Pedestrian/Bicycle Connectivity. • Expanded the Aventura BCycle bike share program by adding a new station. • Continued to collaborate with state, county and local officials to address traffic issues. Community Engagement, Parks, Programs and Special Events: • Added three (3) part-time seasonal Park Attendant positions in order to provide adequate coverage in the peak season and accommodate increased attendance at our park facilities. • Implemented a new afterschool program at the Community Recreation Center for Aventura students that attend Aventura Waterways K-8. • Added a Jazz, Wine and Cheese event in April of 2018, as part of the City's ongoing efforts to provide community events of all age groups. • Established new youth travel soccer and basketball leagues to respond to increased demand for these community services which will be offset by user fees. • Continued the "Community Ride with the Police Department" Special Event which provides opportunities for the residents to interact with the Police. • Increased funding to support a wide Varity of programming for all age groups at the Aventura Arts& Cultural Center. • Continued to fund Family Movie Nights at Founders Park. • Employed the use of the newly created Youth Advisory Board. Environmental Sustainability and Go Green Initiatives • Maintained Tree City USA status. • Continued to improve the energy efficiency of all City facilities including the replacement of worn air conditioning systems. • Ensured that redevelopment projects that require land use/zoning revisions do not have a negative impact on the community. • Included funding to continue to retrofit street lighting with more energy efficient LED fixtures. • Monitored and participated in regional efforts to address the impact of rising sea level as well as implemented recommendations found in the City's Comprehensive Stormwater Management Plan that address drainage improvements and the long range impacts of climate change. • Continued the "Go Green Award Program" sponsored by the Community Services Board to recognize condominiums and businesses that have made efforts to reduce energy consumption and implement recycling programs. • Provided adequate funding to maintain our signature landscape, streets, rights-of-way and facilities and maintained the silver level certification recognition by the Florida Green Local Government Program. Police Department On March 25, 2000, the Aventura Police Department ("APD") became the youngest agency to ever receive accreditation status through the Commission on Accreditation for Law Enforcement Agencies, Inc. ("CALEA"). The accreditation means the APD has been recognized by an independent organization composed of representatives of the International Association of Chiefs of iii Police, the National Sheriffs Association, the National Organization of Black Law Enforcement Executives and the Police Executive Research Forum and has complied with over 400 standards that have been established as benchmarks of excellence. The APD has met or exceeded international accreditation standards set by CALEA. The accreditation process increases the agency's ability to prevent and control crime through more effective and efficient delivery of law enforcement services to the community. The process enhances community understanding of the APD and its role in the community, its goals and objectives. For the 7th time, CALEA has awarded reaccreditation to the APD. This prestigious organization has awarded our agency with their Gold Standard and as recognized us as one of their flagship organizations. These coveted awards from a nationally recognized and independent organization, symbolizes the agency's professionalism and distinction. The APD is also a leader in the field of technology. The agency has updated our E911 system in Communications as well as our Computer Aided Dispatch ("CAD") and Records Management System ("RMS") for reports and computer dispatch of calls for service. On April 4, 2017, officer and support personnel capabilities were enhanced with the complete merge of our CAD and RMS systems. The merge has allowed our 911 dispatchers to instantly share knowledge of changing events with field units and simultaneously provide existing data on suspects and previous incidents. The RMS is an agency-wide system that provides electronic files that are directly related to law enforcement operations. In addition, during the past year the APD completed the installation of the in-car video for the remainder of the uniform vehicles that had begun in the previous year and worked with AT&T to implement the West-Viper 911 system that enables our communications center to provide Next Generation data services to include Text-to-911. Aventura City of Excellence School The City owns and operates the Aventura City of Excellence School ("ACES"). ACES is a K-8 Municipal Charter School that is part of the City's government and not a separate legal entity or otherwise organized apart from the City. The School operates under a charter granted by the sponsor — the Miami-Dade County Public School District. The School has been well received and has been at full capacity since its inception and has obtained academic success by receiving an "A" grade from the State of Florida for the past 15 years. The School will serve 1,020 students in the 2018/19 school year. Since its opening on August 25, 2003, the Aventura Charter Elementary School has achieved several milestones in the City's short history including: • Being the first School within the City's boundaries and the first municipal sponsored charter school in the County. • In 2005, the School amended the charter to include grades six through eight. • In 2012, the School amended the charter to increase its capacity from 972 to 1,020 students over the next five (5)years commencing with the 2012/13 school year. Don Soffer Aventura High School The Don Soffer Aventura High School ("DSAHS") is a tuition-free public charter school opening in August 2019. The DSAHS will accept 9th grade students in its first year and will add grades 10 through 12 in subsequent years. The 53,418-square-foot school and 10,250-square-foot gymnasium will be situated on two (2) acres at 3151 NE 213 h St., Aventura, FL 33180. DSAHS is a municipal charter school managed by Charter Schools USA Inc. ("CSUSA") and governed by the City. CSUSA, the first education management company to receive corporation system-wide accreditation through AdvancED is one of the nation's leading charter school management companies. CSUSA currently manages 83 schools in six states serving more than iv 70,000 students in kindergarten through 12`h grade. CSUSA's innovative educational advantages include advanced technology, meaningful parental involvement, student uniforms, consistent and fairly-enforced discipline policies, highly qualified and motivated staff, community focus, integrated character education and high academic growth and performance. Learners at DSAHS will discover their passion and build a bridge between their rigorous high school experience and future to become impactful global citizens. Aventura Arts & Cultural Center The Aventura Arts & Cultural Center ("AACC") is a beautiful 14,864 square-foot waterfront performing arts facility situated on the intracoastal whose mission is to enhance the quality of life for Aventura by providing a variety of performing arts and relevant cultural programming for audiences of all ages. The AACC has been managed by the Broward Center for the Performing Arts since its opening and has just completed its 8th season. The AACC has become the cultural heart of the City as thousands have enjoyed a wide range of shows in this beautiful waterfront facility. Budget Process The City's fiscal year begins on October 1s` and ends on September 30`h of each year as mandated by Florida statutes. The City Manager submits to the Commission the Proposed Operating and Capital Budget for the coming year no later than July 10`h of each fiscal year. The preliminary millage rate is based on the certified taxable value that is received on July 1s`. The appropriations contained in the proposed recommendation shall not exceed the funds derived from taxation and other revenue sources. The budget is approved via Commission adoption of an Ordinance at two (2) public meetings scheduled for September and becomes effective October 1s`. An annual appropriated budget is adopted for all governmental funds with the exception of the Charter School Fund, the Charter High School Fund, Federal Forfeiture Fund and Law Enforcement Trust Fund. The City Manager is authorized to transfer part or all of an unencumbered appropriation balance within departments within a fund; however, any revisions that alter the total appropriations of any department or fund must be approved by the City Commission. The classification detail at which expenditures may not legally exceed appropriations is at the department level. ECONOMIC CONDITION AND OUTLOOK Local Economy The City is an affluent suburb in a metropolitan area and serves as a major retail and medical economic driver and attraction for South Florida. It is home to the 2.8 million square foot Aventura Mall, one of the biggest indoor shopping destinations in the greater Miami area, with 300+ luxury retail stores. The City is home to many other beautiful shopping centers, fine dining establishments, parks and the Aventura Hospital and Medical Center. In September 2018, the Commission adopted the budget for the fiscal year beginning October 1, 2018 with the same tax rate as the prior year of 1.726. This is the lowest rate in the County, making it the City's 23 d year without a property tax increase. The City's property tax component is responsible for approximately 10% of the total tax bill, with the largest portions being incurred from the County and School Board. In FY 2018/19, the City will maintain the same service levels and programs that our residents and businesses enjoyed in the prior year with the following exceptions: • Added one (1) new Police Officer position to serve as a School Resource Officer for the new Don Soffer Aventura High School to enhance safety and security. • Increased the cost of part-time seasonal Park Attendant hours by $24,000 to provide adequate coverage during the peak season and to accommodate increased park usage. • Added four (4) more weekends to the splash pad season. v • A new "sci-tech camp" is a program for residents to explore the interconnections between science, technology, engineering and mathematics ("STEM") while challenging their creativity and problem-solving skills. The cost will be offset by fees charged for this service. • The employee health insurance costs rose by 5%, - a $134,000 impact on the budget. More information about the City's economy may be obtained in the MD&A. Maior Capital Improvements One of the City's main priorities is to maintain its infrastructure to a high standard. As a result, the City completed the following major capital improvements during FY 2017/18: ✓ Replaced Canopies/Fencing and the Landscaping Action Plan as a result of Hurricane Irma ✓ Replaced Playground Equipment at Veterans Park ✓ Aventura Boulevard (upgraded with LED Lighting) ✓ Completed Street Drainage Improvements on Country Club Dr., 1915`St. and Aventura Blvd. ✓ Completed seawall renovations on 213`h Street In addition, the following projects were in process at the end of FY 2017/18: • The Road Resurfacing Project on Mystic Point Dr. • Seawall renovations on NE 183 d 188`h and 190`h Streets • The construction of the Don Soffer Aventura High School LONG-TERM FINANCIAL PLANNING AND RELEVANT FINANCIAL POLICIES Maintaining Adequate Fund Balances The City follows GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions which requires that governmental fund financial statements present fund balances based on classifications that comprise a hierarchy that is based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in the respective governmental funds can be spent. The City's policy is to maintain an adequate General Fund balance to meet seasonal shortfalls in cash flow and reduce susceptibility to emergency and unanticipated expenditures and/or revenue shortfalls. Some of our more significant fund balance classifications include: Committed: This classification includes amounts that can be used only for the specific purposes as determined by adoption of an ordinance by the Commission. Once adopted, the limitation imposed by the ordinance remains in effect until another ordinance either removes or revises the limitation. Effective September 30, 2018, the Commission provided a General Fund Capital Reserve of approximately $ 14.8 million and continued to maintain a Hurricane/Emergency and Disaster Recovery Reserve in the amount of$ 5 million. Unassiqned: This classification includes the residual fund balance for the General Fund and represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the General Fund. Minimum Level of Unassiqned Fund Balance of the General Fund At the beginning of each fiscal year, the total unassigned fund balance shall not be less than 10% of the annual General Fund revenue. In any fiscal year where the City's unassigned fund balance falls below the required 10% threshold, the City shall not budget any amounts of unassigned fund balance for the purpose of balancing the budget. In addition, the City Manager will make every effort to reestablish the minimum unassigned fund balance in a 24 — 36 month period beginning with the year from which the reserve funds fell below the 10% threshold. 10% of the FY 2018/19 annual General vi Fund revenue approximates $ 3.9 million, while at September 30, 2018 unassigned fund balance approximated $ 15.5 million. Pay-As-You-Go Financing Although the City Charter makes no reference to limitations in establishing debt, the City has limited its borrowing to prudent levels that are able to be satisfied with existing revenue and cash flow projections. In order to minimize our debt issuance (and the related costs) to when it is absolutely necessary, the City has adopted a pay-as-you-go financing policy for CIP projects which include: • A large number of projects having a relatively small dollar value. • Projects which can be broken into phases with a portion completed each year without impairing the overall effectiveness of the project. • Projects which are of a recurring nature. • Projects where the assets acquired will have relatively short useful lives. Privatization of City Services The City utilizes a model of privatizing many service area operations that provides a more cost effective service delivery system as compared to a traditional government structure. By utilizing outside contractors to provide certain functions (i.e., Building Inspection and Engineering Services), the City is able to quickly adjust its cost of providing such services in direct correlation to the demand for the related service. AWARDS AND ACKNOWLEDGEMENTS The Government Finance Officers Association of the United States and Canada ("GFOA") awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Aventura for its comprehensive annual financial report for the fiscal year ended September 30, 2017. This was the 22nd consecutive year that the City has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. The City also received the GFOA's Distinguished Budget Presentation Award for its annual budget document for the fiscal year beginning October 1, 2017. To qualify for the Distinguished Budget Presentation Award, the City's budget document had to be judged proficient as a policy document, a financial plan, an operations guide, and a communications device. The preparation of this report would not have been possible without the efficient and dedicated service of the Finance Department and as such we would like to express our appreciation to all members of the Department who assisted in this effort. In addition, we give credit to City Commission for their continued interest and support in planning and conducting the City's financial operations in a responsible and progressive manner. Respectfully submitted, Ronald J. on Brian K. Raducci City Manag r Finance Director vii CITY OF AVENTURA, FLORIDA LIST OF PRINCIPAL OFFICIALS Title Name Mayor Enid Weisman Commissioner Denise Landman Commissioner Dr. Linda Marks Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg City Manager Ronald J. Wasson City Attorney Weiss Serota Helfman Cole & Bierman, P.L. Community Development Director Joanne Carr Information Technology Director Karen J. Lanke Charter School Principal Julie Alm Finance Director Brian K. Raducci City Clerk Ellisa L. Horvath Arts & Cultural Center General Manager Jeff Kiltie Community Services Director Kimberly Merchant Public Works/Transportation Director Joseph S. Kroll Chief of Police Bryan Pegues City Auditor Caballero Fierman Llerena & Garcia, LLP viii CITY OF AVENTURA Organizational Chart Residents City Commission City Attorney City Manager City Clerk Administration Minutes Legal Services Budget/CIF Preparation Records Retention Customer Service Clerical Support Organizatic nal Oversight Elections Public Safety Community Finance Community Department Development Department Services Department Department Police Planning Finance/Accounting Parks Patrol Zoning Purchasing Special Events Community Relations Building Inspections Risk Management Recreation Programming Criminal investigations Code Enforcement Personnel Athletic Leagues Traffic Enforcement Economic Development Community Recreation Center Emergency Preparedness Occupational Licenses Community Garden Charter School Arts&Cultural Information Public Works/ Department Center Technology Transportation Department Department Department Information Management ROW/Median Maint. K-8 School Facility Management Mass Transit Performing Arts Programming Communications Community Facilities Maint. Capital Projects Stormwater Drainage Maint. IX Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to City of Aventura Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 2017 3L,-&� P, ;OfAn� Executive Director/CEO x rl` m M OOOI% r.onow 14 FINANCIAL SECTION INDEPENDENT AUDITORS' REPORT CABALLERO HERMAN LLERENA GARCIA LLP HIM accountants I advisors INDEPENDENT AUDITORS' REPORT Honorable Mayor and Members of the City Commission City of Aventura, Florida Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of City of Aventura, Florida (the "City") as of and for the fiscal year ended September 30,2018,and the related notes to the financial statements,which collectively comprise the City's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America;this includes the design, implementation,and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement,whether due to fraud or error. Auditors' Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the City of Aventura Police Officers' Retirement Plan,which represents 94%, 96%and 90%respectively, of the assets, net position, and revenues of the aggregate remaining fund information.Those statements were audited by other auditors'whose report has been furnished to us, and our opinion, insofar as it relates to the amounts included for the City of Aventura Police Officers' Retirement Plan Pension Trust Fund, is based solely on the report of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements,whether due to fraud or error. In making those risk assessments,the auditor considers internal control relevant to the City's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, based on our audit and the report of the other auditors,the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City, as of September 30, 2018, and the respective changes in financial position and, where applicable, cash flows for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America. 1 4649 Ponce de Leon Blvd I Suite 404 1 Coral Gables,FL 33146 T.305.662.7272 F:305.662.4266 1 CFLGCPA.COM Emphasis of a Matter As discussed in Note 11 to the basic financial statements,the City implemented Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, as of October 1, 2017. As further discussed in Note 11, the opening net position has been restated due to the implementation of this new standard. Our opinion is not modified with respect to this matter. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis on pages 3 through 11 and the budgetary comparison schedules, schedule of changes in City's net pension liability and related ratios, schedule of City's contributions, schedule of changes in total liability and related ratios - other post-employment benefits on pages 50 through 57, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board,who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements,and other knowledge we obtained during our audit of the basic financial statements.We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary and Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic financial statements. The introductory section, combining and individual nonmajor fund financial statements, budgetary comparison schedules and statistical section,are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining and individual nonmajor fund financial statements and budgetary comparison schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements.Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves,and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion,the combining and individual nonmajor fund financial statements and budgetary comparison schedules are fairly stated in all material respects in relation to the basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly,we do not express an opinion or provide any assurance on them. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated March 5, 2019, on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's internal control over financial reporting and compliance. (�a6allev0 / -olwaff Gle-ewa &- �alvla, LLQ' Caballero Fierman Llerena &Garcia, LLP Coral Gables, Florida March 5, 2019 2 4649 Ponce de Leon Blvd I Suite 404 1 Coral Gables,FL 33146 T.305.662.7272 F:305.662.4266 1 CFLGCPA.COM MANAGEMENT'S DISCUSSION AND ANALYSIS (M D&A) CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 As the City of Aventura's (the "City") management, we offer the City's financial statement readers this narrative overview and analysis of the City's financial activities for the fiscal year ended September 30, 2018. We encourage readers to consider the information presented herein in conjunction with the Letter of Transmittal, which can be found on pages i through vii of this report.All amounts, unless otherwise indicated, are expressed in thousands of dollars. Financial Highlights • The assets and deferred outflows of resources of the City exceeded its liabilities and deferred inflows of resources at the close of the most recent fiscal year by $128 million (net position). Of this amount, $32.6 million represents unrestricted net position, which may be used to meet the City's ongoing obligations to citizens and creditors. • The City's total net position increased by $4.1 million over the course of this year's operations. The net position of our governmental activities increased by approximately $4 million, while the net position of our business type activities decreased by approximately $.1 million. • At the close of the current fiscal year, the City's governmental funds reported combined fund balances of $57 million, an increase of$3.9 million in comparison with the prior year. Approximately 27% of this amount ($15.5 million)is available for spending at the government's discretion (unassigned fund balance). • At the end of the current fiscal year, unrestricted fund balance (the total of nonspendable, committed, assigned and unassigned components of fund balance) for the General Fund was $36.4 million, or approximately 68%of total General Fund expenditures (inclusive of transfers out). Overview of the Financial Statements The financial section of this annual report consists of four (4) parts—management's discussion and analysis (this section), the basic financial statements, required supplementary information and other financial information that presents combining and individual fund financial statements and budgetary comparison schedules. MANAGEMENT'S DISCUSSION AND ANALYSIS BASIC FINANCIAL STATEMENTS Government-Wide(Full Accrual) Fund Governmental Activities Governmental(Modified Accrual) Business-Type Activities Proprietary (Full Accrual) (No Fiduciary Activities) Fiduciary (Full Accrual) Notes to the Financial Statements REQUIRED SUPPLEMENTARY INFORMATION OTHER FINANCIAL INFORMATION Supplementary Information—Combining Fund Financial Statements&Budgetary Comparison Schedules 3 CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 Major Features of the Basic Financial Statements Government-Wide Fund Financial Statements Financial Statements Governmental Funds Proprietary Funds Fiduciary Funds Scope Entire City government Activities of the City that Activities of the City that Instances in which (except fiduciary activities) are not proprietary or are operated similar to the City is the trustee fiduciary private business or agent for someone else's resources Required financial Statement of net position Balance sheet Statement of net position Statement of net position statements Statement of activities Statement of revenues, Statement of revenues, Statement of changes in expenditures,and net expenses,and changes net position changes in fund balances in net position Statement of cash flows Accounting basis and Accrual accounting and Modified accrual accounting Accrual accounting and Accrual accounting and measurement focus economic resources and current financial economic resources focus economic resources focus focus resources focus Type of asset,liability, All assets and liabilities, Only assets expected to be All assets and liabilities, All assets and liabilities, and deferred outflows/ both financial and capital, used up and liabilities that both financial and capital, both short-term and long- inflows information and short-term and long- come due during the year and short-term and long- term.It also includes the term.It also includes the to soon thereafter,no capital term.It also includes the consumption and the consumption and the assets and long-term consumption and the acquisition of net position acquisition of net position liabilities are included.It also acquisition of net position that applies to future that applies to future includes the consumption that applies to future period(s). period(s). and the acquisition of net period(s). position that applies to future period(s). Basic Financial Statements Government-wide financial statements The focus of the government-wide financial statements is on the City's overall financial position and its activities. Reporting is similar to that of a private-sector business. The government-wide financial statements report information about the City as a whole and about its activities in a way that helps answer questions about the City's financial health and whether the current year activities contributed positively or negatively to that health. The City's government-wide financial statements include the statement of net position and statement of activities. As described below, these statements do not include the City's fiduciary activities because resources from these funds cannot be used to finance the City's activities. However, the financial statements of fiduciary activities are included in the City's fund financial statements because the City is financially accountable for those resources, even though they belong to other parties. The Statement of Net Position presents the City's long and short term financial information on the assets held and liabilities owed, as well its deferred outflows/inflows of resources. The City's assets are reported when acquired and its liabilities are reported when they are incurred, regardless of the timing of the related cash flows to acquire these assets or liquidate such liabilities. For example, the City reports buildings and infrastructure as assets even though they are not available to pay the obligations it incurs. On the other hand, the City reports liabilities, such as other post-employment benefits even though these liabilities might not be paid until several years into the future. Deferred outflows/inflows of resources represent the consumption/acquisition, respectively, of net position that applies to a future period(s). 4 CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 Basic Financial Statements(Continued) Government-wide financial statements(Continued) The difference between the City's total assets, deferred outflows of resources, total liabilities and deferred inflows of resources is net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the City's financial position is improving or deteriorating.Although the City's purpose is not to accumulate net position, in general, as this amount increases it indicates that the City's financial position is improving over time. The Statement of Activities presents the revenues and expenses of the City. The items presented on the statement of activities are measured in a manner similar to the approach used in the private-sector, in that revenues are recognized when earned and expenses are reported when incurred. Accordingly, revenues are reported even when they may not be collected for several months after the end of the accounting period and expenses are recorded even though they may not have used cash during the current period. Both of the government-wide financial statements distinguish City functions that are principally supported by taxes and intergovernmental revenue (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The City's governmental activities include general government, public safety, community services and public works. The City's business-type activities include stormwater utility. Fund financial statements Unlike government-wide financial statements, the focus of fund financial statements is directed to the City's specific activities rather than the City as a whole. Except for the General Fund, separate funds are established to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the City's funds can be divided into three (3) categories: governmental funds, proprietary funds and fiduciary funds. Governmental funds Financial statements consist of a balance sheet and a statement of revenues, expenditures, and changes in fund balances. These statements are prepared on an accounting basis that is significantly different from that used to prepare the government-wide financial statements. In general, these financial statements have a short-term emphasis and, for the most part, measure and account for cash and other assets that can easily be converted to cash. For example, amounts reported on the balance sheet include items such as cash and receivables but do not include capital assets such as land and buildings. The difference between the fund's total assets, deferred outflows of resources, total liabilities and deferred inflows of resources is fund balance, and generally indicates the amount that can be used to finance the next fiscal year's activities. The operating statement for governmental funds reports only those revenues that were collected during the current period or very shortly after the end of the year. Expenditures are recorded when incurred. For the most part, the balances and activities accounted for in governmental funds are also reported in the governmental activities columns of the government-wide financial statements. However, because different accounting basis are used to prepare governmental fund financial statements and government-wide financial statements, there are often significant differences between the totals presented. For this reason, there is an analysis after the governmental funds balance sheet that reconciles the total fund balances for all governmental funds to the amount of net position presented in the governmental activities column on the statement of net position. Also, there is an analysis after the statement of revenues, expenditures and changes in fund balances that reconciles the total change in fund balances for all governmental funds to the change in net position as reported in the governmental activities column in the statement of activities. 5 CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 Basic Financial Statements(Continued) Proprietary funds Financial statements consist of a statement of net position, statement of revenues, expenses, and changes in net position and statement of cash flows. These statements are prepared on an accounting basis that is similar to the basis used to prepare the government-wide financial statements. For financial reporting purposes, proprietary funds are grouped into Enterprise Funds and Internal Service Funds. The City uses Enterprise Funds to account for business-type activities that charge customers a fee for their use of specific goods or services. These funds are used to report the same functions presented as business-type activities in the government-wide financial statements.Although the City does not have any Internal Service Funds, such funds are used to account for services provided and billed on an internal basis. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The City has one major enterprise fund, the Stormwater Utility fund. A statement of cash flows is presented at the fund financial statement level for proprietary funds, but no equivalent statement is presented in the government- wide financial statements for either governmental activities or business-type activities. Fiduciary funds Fiduciary funds are used to account for resources held for another party's benefit outside the government. Fiduciary funds are not reflected in the government-wide financial statement because resources of those funds are not available to support the City's own programs. Fiduciary financial statements consist of a statement of net position and a statement of changes in net position. The City reports one fiduciary fund to account for the City of Aventura Police Officers' Retirement Plan. Notes to the financial statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. Required Supplementary Information In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning various issues such as a comparison between the City's adopted and final budget and actual financial results for its General Fund and major special revenue funds (if applicable). The City adopts an annual appropriated budget for its governmental funds. A budgetary comparison schedule has been provided for the General Fund and major special revenue funds (if applicable) to demonstrate compliance with this budget. Required supplementary information is also presented for the City's defined benefit pension plan including a schedule of changes in City's net pension liability and related ratios and schedule of City's contributions as well as a schedule of total liability and related ratios for other post-employment benefits. Combining and Individual Fund Financial Statements and Budgetary Schedules Combining statements referred to earlier in connection with nonmajor governmental, internal service and fiduciary funds are presented immediately following the required supplementary information. Additional budgetary schedules are presented in this section including, as applicable, nonmajor special revenue funds, debt services funds and capital projects funds. 6 CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 Government-Wide Financial Analysis The table below presents a summary of net position as of September 30, 2018 and 2017, derived from the government-wide Statement of Net Position: Net Position(in thousands) Governmental Business-Type Activities Activities Total 2018 2017 2018 2017 2018 2017 Assets: Current and other assets $ 63,796 $ 57,058 $ 448 $ 1,342 $ 64,244 $ 58,400 Capital assets 95,528 90,254 8,942 8,465 104,470 98,719 Total assets 159,324 147,312 9,390 9,807 168,714 157,119 Total deferred outflows of resources 3,420 5,262 - 3,420 5,262 Liabilities: Long-term liabilities 32,099 28,785 - - 32,099 28,785 Other liabilities 10,066 6,911 133 430 10,199 7,341 Total liabilities 42,165 35,696 133 430 42,298 36,126 Total deferred inflows of resources 1,684 1,970 - - 1,684 1,970 Net position: Net investment in capital assets 69,820 69,676 8,942 8,465 78,762 78,141 Restricted 16,785 5,085 - - 16,785 5,085 Unrestricted 32,290 40,147 315 912 32,605 41,059 Total net position $ 118,895 $ 114,908 $ 9,257 $ 9,377 $ 128,152 $ 124,285 As noted earlier, net position may serve over time as a useful indication of a government's financial position. At the close of the most recent fiscal year, the City's assets and deferred outflows of resources exceeded its liabilities by approximately $128 million. The largest component of the City's net position is net investment in capital assets and is 62% of total net position. This category reflects its investment in capital assets net of any outstanding related debt used to acquire these assets. The City uses these capital assets to provide its citizens with quality services. Consequently this component of net position is not available for future spending. Although the capital assets are shown net of debt, it should be noted that the resources needed to repay this debt must be provided from other sources. The next largest portion of the City's net position is unrestricted (resources available for spending)and is 25%of total net position. Restricted net position represents 13% of total net position and contains resources that are subject to external restrictions on how they can be used. Capital assets increased approximately $5.2 million and net investment in capital assets increased by $.1 million, respectively, in the governmental activities primarily due to the net effect of new capital/infrastructure projects, increase in accumulated depreciation, disposal of equipment and decrease in related debt. Current and other assets increased by approximately $6.7 million and unrestricted net position in the governmental activities decreased by approximately $7.9 million. The increase in net investment in capital assets is due to the City's ability to self-finance acquisition and construction of new capital/infrastructure projects. 7 CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 Government-Wide Financial Analysis (Continued) Over time, increases and decreases in net position measure whether the City's financial position is improving or deteriorating. In the current fiscal year, property taxes increased by approximately $.4 million as the assessed value of our taxable property increased over the prior year coupled with no change in our ad valorem millage rate. In addition, we experienced a $1.8 million increase in building permit fees due to higher than anticipated building activity. In the current year Public Safety expenses increased approximately $3.3 million, related to salaries and benefits and an increase in building inspection services due to higher than expected building/development activity. The table below presents a summary of changes in net position for the years ended September 30, 2018 and 2017, as derived from the government-wide Statement of Activities: Changes in Net Position(in thousands) Governmental Business-Type Activities Activities Total 2018 2017 2018 2017 2018 2017 Revenues: Program revenues: Charges for services $ 12,871 $ 10,448 $ 1,254 $ 1,284 $ 14,125 $ 11,732 Operating grants and contributions 9,859 8,952 - - 9,859 8,952 Capital grants and contributions 288 237 100 388 237 General revenues: Property taxes 16,747 16,349 - 16,747 16,349 Utility service taxes 8,053 7,656 8,053 7,656 Franchise fees 2,545 1,979 2,545 1,979 Intergovernmental revenues 6,633 7,141 - 6,633 7,141 Other revenues 1,819 502 6 9 1,825 511 Total revenues 58,815 53,264 1,360 11293 60,175 54,557 Expenses: General government 6,852 6,152 - - 6,852 6,152 Public safety 26,271 22,977 26,271 22,977 Community services 13,884 13,906 13,884 13,906 Public works 6,808 5,972 6,808 5,972 Interest and fiscal charges 823 691 823 691 Stormwater utility - - 1,480 990 1,480 990 Total expenses 54,638 49,698 1,480 990 56,118 50,688 Change in net position 4,177 3,566 (120) 303 4,057 3,869 Net position,beginning of year(as restated) 114,718 111,342 9,377 9,074 124,095 120,416 Net position,end of year $ 118,895 $ 114,908 $ 9,257 $ 9,377 $ 128,152 $ 124,285 Financial Analysis of the City of Aventura's Funds As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental funds The focus of the City's governmental funds is to provide information on near-term inflows, outflows and balances of spendable resources. Such information is useful in assessing the City's financing requirements. In particular, unrestricted fund balance (committed, assigned and unassigned) may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. 8 CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 Financial Analysis of the City of Aventura's Funds (Continued) Governmental funds(Continued) The General Fund is the City's chief operating fund and at end of the current fiscal year its total fund balance approximated $36.4 million. Much of the unrestricted fund balance portion will be utilized in future years to continue to fund various capital needs and to maintain a hurricane/emergency and disaster recovery reserve. As a measure of the General Fund's liquidity, it may be useful to compare both unrestricted fund balance and total fund balance to total general fund expenditures. Unassigned fund balance equals approximately $15.5 million or 43% of the General Fund total fund balance. This amount represents approximately 29% of total general fund expenditures (inclusive of transfers out)and is available for spending at the government's discretion. The total fund balance of the City's General Fund decreased by $8.8 million. During the current fiscal year the overall revenues and expenditures increased by $4.1 million and $15.5 million, respectively. There was a $1.8 million increase in permit fees due to new construction in the City. Franchise fees and charges for services increased by approximately $.5 million and $.4 million, respectively due to general increase in user base. The Charter School Fund is used to record the operations of the Aventura City of Excellence School. The Charter School's fund balance decreased by $.05 million. There were no significant changes in the School's operations and the intergovernmental revenues increased by $.6 million. During the year, the School increased its investment in computers and other capital equipment in the amount of$.3 million. The Street Maintenance Fund is used to record the operations of the street maintenance and construction costs, which are designated by State Statute. The activities in this fund vary from year to year based on the projects planned. This year the fund balance increased by $1.4 million. Revenues increase slightly but overall expenditures decreased by $1.4 million. The Charter School Construction Fund is used to account for the costs to build the City's new high school. The costs are financed partially with $7.1 million of debt and the remaining costs are covered with the City's funds and donations. The total cost is estimated to be approximately $15 million.As of the end of the fiscal year the $2.3 million in construction costs were incurred. The Debt Service Fund Series 2000 is used to record principal and related interest payments and did not have any significant changes from the prior year. Proprietary fund The proprietary fund is used to record the operations of the stormwater-related activities and experienced a decrease in net position of$.1 million over the prior year. Revenues and expenditures both remained constant. General Fund Budgetary Highlights During the year,the original budget was amended to reflect a net increase of approximately$6.5 million as follows: • $1.5 million related to the automatic reappropriation of capital-related encumbrances for capital projects that were in process at the end of fiscal year 2017. • $.8 million related to the reappropriation of remaining capital-related funds from fiscal year 2017 for various projects which were incomplete or assigned at the end of that fiscal year. • $2.5 million related to expenditures related to Hurricane Irma. • $10.8 million related to the Don Soffer Aventura High School as follows: o $4.4 million to acquire and prepare the land that was used for the facility's site o $6.2 million to assist with constructing and equipping the new facility o $.2 million to fund debt service requirements for the new facility • $3 million for various operational needs. • A$12.1 million offsetting reduction to the Capital Reserve. 9 CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 General Fund Budgetary Highlights(Continued) During the year, revenues exceeded budgetary estimates and expenditures were more than budgetary estimates, resulting in the net decrease to fund balance of approximately $ 8.8 million. As explained earlier, much of the unrestricted fund balance will continue to be utilized in future years to fund various capital needs. Licenses and permits and fines and forfeitures revenue exceeded the revised budget by $ 1.4 million and $ 1.3 million, respectively due to higher than anticipated revenues in both categories. Non-departmental capital outlay was approximately $3.7 million less than budgeted because the City budgets a reserve for future capital expenditures which accounts for a significant portion of the appropriated beginning fund balance. Capital Assets As of September 30, 2018 and 2017, the City had $ 104.5 million and $ 98.7 million, respectively, invested in a variety of capital assets, as reflected in the following schedule: Capital assets (in thousands, net of depreciation) Governmental Business-Type Activities Activities Total 2018 2017 2018 2017 2018 2017 Land $ 24,169 $ 21,023 $ - $ - $ 24,169 $ 21,023 Buildings 30,684 31,979 - - 30,684 31,979 Improvements other than buildings 9,708 10,134 - - 9,708 10,134 Furniture, machinery and equipment 4,554 5,186 - - 4,554 5,186 Infrastructure 19,882 20,003 8,481 6,307 28,363 26,310 Construction in progress 6,531 1,929 461 2,158 6,992 4,087 Total $ 95,528 $ 90,254 $ 8,942 $ 8,465 $ 104,470 $ 98,719 Additional information can be found in Note 7-Capital Assets. Debt Administration As of year-end, the City had $25.3 million in debt outstanding compared to the $ 20.2 million last year, a 25.6% increase.All debt is secured only by a covenant to budget and appropriate. Bonded Debt and Notes Payable (in thousands) Governmental Business-Type Activities Activities Total 2018 2017 2018 2017 2018 2017 Non-Ad Valorem bonds $ 25,335 $ 20,165 $ - $ - $ 25,335 $ 20,165 Additional information can be found in Note 8-Long-Term Liabilities of Governmental Activities. Economic Factors and Next Year's Budgets and Rates The State of Florida, by constitution, does not have a state personal income tax and therefore the State operates primarily using sales, gasoline and corporate income taxes. Local governments including cities, counties and school boards primarily rely on property and a limited array of permitted other taxes (e.g., utility taxes, franchise fees and occupational licenses) and intergovernmental revenues to provide funding for their governmental activities. For business-type activities and certain governmental activities (e.g., construction services and recreational programs), a fee or charge is paid by those that utilize the service. 10 CITY OF AVENTURA, FLORIDA MANAGEMENT DISCUSSION AND ANALYSIS SEPTEMBER 30, 2018 Economic Factors and Next Year's Budgets and Rates(Continued) The City experienced a 2.6% increase in property values over the prior year. This lower than anticipated increase was due to a flat condominium market currently experienced in the County which was offset by new construction values of$227 million. In light of lower than anticipated property assessments, the growth of operating expenditures for 2018/19 and new personnel were dialed back to better position the City finances going forward. The budget does not include any significant expansion or additional areas of service except for the start-up costs associated with the Don Soffer Aventura High School. Once again, our strong fiscal policies and prudent budgeting have assisted in the maintenance of all existing service levels and avoiding raising the tax rate for the 23rd year in a row. Due to the uncertainly associated with the property values, it is imperative that the City continue to follow the policy that unless it is included in the budget or it is self-supporting, new programs or projects should not be considered during the year. We need to continue to remain prudent and conservative in our financial management of the City. The financial plan to fund the construction and start-up costs of the Don Soffer Aventura High School project will reduce the City's General Fund balance by $10.6 million over the next two (2)years. Unless it is needed in the case of an emergency or to fund an unanticipated economic event, every effort should be made to avoid reducing the General Fund reserves any further. Going forward, developments currently under construction will increase the City's tax base and the implementation of the new FPL Franchise Agreement in 2020 should provide revenue to offset future service demands. However, we need to continue to be conservative in our approach to City finances during these uncertain economic times. The budget process produced a total budget of$59.6 million or 17.8% less than the previous year. This is a result of the completion of major capital outlay projects and funding for the Don Soffer Aventura High School in the prior year. Capital Outlay expenditures are budgeted at$2.9 million and decreased by $18.5 million compared to the prior year. Projects included range from park improvements to road resurfacing and the commitment to invest in state-of-the-art technology to serve and protect our residents. Maintaining our infrastructure from government buildings to our park facilities continues to be a major funding priority to protect these assets well into the future. Operating costs for all funds decreased by $.1 million or .3% as compared to the previous year. General Fund operating cost increases were limited to 3%. The budget maintains our current level for all City services except the following areas: • Added one (1) new Police Officer position to serve as a School Resource Officer for the new Don Soffer Aventura High School to enhance safety and security. • The number of part-time seasonal Park Attendant hours was increased at a cost of$.02 million to provide adequate coverage in the peak season and accommodate increased attendance at our park facilities. • Added four(4) more weekends to the splash pad season. • A new "sci-tech camp" is a program for residents to explore the interconnections between science, technology, engineering and mathematics ("STEM") while challenging their creativity and problem-solving skills. The cost will be offset by fees charged for this service. • The employee health insurance costs rose by 5%,which had a $.13 million impact on the budget. Requests for Information This financial report is designed to provide our citizens, taxpayers, customers and investors and creditors with a general overview of the City's finances and to demonstrate the City's accountability. If you should have any questions pertaining to the information presented in this report or would like additional information, please contact the City's Finance Director at 19200 W. Country Club Drive,Aventura, Florida 33180. 11 rl` m M OOOI% r.onow 14 BASIC FINANCIAL STATEMENTS CITY OF AVENTURA, FLORIDA STATEMENT OF NET POSITION SEPTEMBER 30, 2018 Governmental Business-Type Activities Activities Total ASSETS Cash, cash equivalents and investments $ 60,422,965 $ 182,178 $ 60,605,143 Receivables, net of allowance for uncollectibles 1,152,877 - 1,152,877 Due from other governments 1,170,576 265,697 1,436,273 Prepaid expenses 529,154 - 529,154 Inventories 20,370 - 20,370 Restricted cash, cash equivalents and investments 500,594 - 500,594 Capital assets: Nondepreciable 30,699,792 461,321 31,161,113 Depreciable, net of accumulated depreciation 64,827,834 8,481,261 73,309,095 Total assets 159,324,162 9,390,457 168,714,619 DEFERRED OUTFLOWS OF RESOURCES Pension 3,047,335 - 3,047,335 Deferred charge on refunding 372,581 - 372,581 Total deferred outflows of resources 3,419,916 - 3,419,916 LIABILITIES Accounts payable 3,121,075 132,969 3,254,044 Accrued liabilities 2,937,099 - 2,937,099 Due to other governments 34,160 - 34,160 Unearned revenues 712,424 - 712,424 Accrued interest payable 53,286 - 53,286 Due within one year: Compensated absences payable 1,088,075 - 1,088,075 Bonds payable 2,120,000 - 2,120,000 Due in more than one year: Compensated absences payable 2,020,712 - 21020,712 Bonds payable 23,215,000 - 23,215,000 Net pension liability 6,146,319 - 6,146,319 Total OPEB liability 716,992 - 716,992 Total liabilities 42,165,142 132,969 42,298,111 DEFERRED INFLOWS OF RESOURCES Pension 1,683,869 - 1,683,869 Total deferred inflows of resources 1,683,869 - 1,683,869 NET POSITION Net investment in capital assets 69,820,045 8,942,582 78,762,627 Restricted for: Community services 4,624,849 - 4,624,849 Capital projects 11,087,462 - 11,087,462 Public safety 882,424 - 882,424 Debt service 478,742 - 478,742 Unrestricted 32,001,545 314,906 32,316,451 Total net position $ 118,895,067 $ 9,257,488 $ 128,152,555 See notes to basic financial statements 12 00N O O � � O O LO V N I-- N V O V V I-- O — Lo 00 ch V N LO I— N O I— M O O O N O O m Lc) (fl (fl V O O O 00 O (D I— O (D V LO O N O (D CO LO V LO 0) ch O L() L() r- N V N (fl O 00 c7 I_ L() O L() N (6 N V 00 CO N - N V V LO V ch LO VN O LO 00 O O LO 00 O N (D 00 O 1— 1— O LO (D (D 00 O N O H (fl V c7 (fl (fl 00 N (fl L() V V V 00 -p GqC O a) a O rn a) ' ' ' ' ' (3) (3) ' ' ' ' O ' O O 00 ' 00 00 LO LO V V = O O 00 Q HO O O V V LO O O V N L() V O O O (fl (fl X (f) 1-- 1— LO LLI Z (n > c' co N N C C U O) O O) C a) n Q a) Z) a) m 64 L _ U00 N O) (0 1— LO V N I-- m V O LO V O) (0 ch [I- 70- 00 CO V = N N O I— = 00 O O V ch 0') (0 ch (0 Z O (fl (fl V O = O) O) O (fl � O) = V L() (fl � O) (fl C7 C:)- a) N V LO I— O) ch O) O) I-- N V N O O 00 (0 (D 00 O 00 LO N V 00 ch N V LO V M LO V N O I-- O O) O) 'j 00 O N (fl 00 O O 1— O L() (fl (0 1— = O) I� 00 00 N (0 m V V V CO 00 p Q O 6 EA N O ' 00 N V V O V co O co CO LO I— O 1- 'O ch V ch O _ I— � c7 00 O 00 W �° �° ch v 00 O 00 wG U (6 a) W O 0 ~ � � C) N (6 LL LU 7 O 1— CO V 1— U O U a O 0 O (O L() O) 0- 0 W a) j N 00 N N LO LO 'Q (6 LL 0 Q' (6 rn ch V 00 00 (6 ) � ('7 H 0E a) � X 00 O O U p Z W2 O o (6 � U) � > w � O U (f) C >, Q c < O n O G _ 0 LL LU ' c7 O ' ' N V (fl O � � CO � L(7 O _0O O 'O N J o O Li) m a) a) °> o a a) a) O( LO N O O- U � 00 N in O O a) s CO > o — o '— 0) W (» U) E c c E c 5 Ln m y I- 1— 00 CO 6 m a) o 6 0 o Z) o c vvvNN 00 I,- (0 O E . c N U) m m m ch ch v ao u) E u) O � O w N o co 00 ri 00 of l- > a) X a) o c -p c c L� 0L O N 0000 00 000 (0 v � 2 O � o f �) c o p o 0 0 m ( ch ( v cm m m p t O W N LO LO > - N > (b � O 0) O c- 0 0 O _ � C Q Q 0- < Q L.L C C E U U Z 0- Z Z U) o _ o U) U) > E E O E m o (6 O O 1 O a) N U a) O -Fu C + > E O (6 N > U , c-) E U = (6 c °) o � E O E O O O 0 O Q O Q E 0 m 0) > 7 > a) (6 O 7 O) != C = E `) O N E a) 7 0 7 0 H O n CITY OF AVENTURA, FLORIDA BALANCE SHEET -GOVERNMENTAL FUNDS SEPTEMBER 30, 2018 Major Funds Charter High Charter Street School Nonmajor Total General School Maintenance Construction Governmental Governmental Fund Fund Fund Fund Funds Funds ASSETS Cash and cash equivalents and investments $ 37,290,958 $ 2,758,531 $ 4,452,649 $ 13,456,460 $ 2,464,367 $ 60,422,965 Restricted cash,cash equivalents and investments - - - - 500,594 500,594 Accounts receivable 1,119,927 3,517 29,433 1,152,877 Due from other funds 2,186,654 - - - 2,186,654 Due from other governments 726,321 8,947 434,904 404 1,170,576 Inventories 20,370 - - - 20,370 Prepaid expenditures 517,193 11,961 529,154 Total assets $ 41,861,423 $ 2,782,956 $ 4,887,553 $ 13,456,460 $ 2,994,798 $ 65,983,190 LIABILITIES Accounts payable $ 2,612,318 $ 228,049 $ 142,704 129,059 $ 8,945 $ 3,121,075 Accrued liabilities 2,096,994 194,236 - - 645,869 2,937,099 Due to other funds - - 2,000,000 186,654 2,186,654 Due to other governments 29,462 4,698 - - 34,160 Unearned revenues 712,424 712,424 Total liabilities 5,451,198 426,983 142,704 2,129,059 841,468 8,991,412 DEFERRED INFLOWS OF RESOURCES Unavailable revenue-intergovernmental 120,000 15,086 135,086 Total deferred inflows of resources - 120,000 15,086 135,086 FUND BALANCES Nonspendable: Inventories 20,370 - - - 20,370 Prepaid expenditures 517,193 11,961 - 529,154 Restricted for: Public works/transportation - - 4,624,849 - 4,624,849 Public safety/law enforcement - - 882,424 882,424 Capital Projects 10,310,384 777,078 11,087,462 Debt service - - 478,742 478,742 Committed for: Capital reserves 14,772,304 - 14,772,304 Hurricane/emergency and disaster recovery operating reserves 5,000,000 5,000,000 Assigned for: Charter school operations - 2,344,012 - 2,344,012 Subsequent years budget 559,263 - 1,017,017 1,576,280 Unassigned: General Fund 15,541,095 15,541,095 Total fund balances 36,410,225 2,355,973 4,624,849 11,327,401 2,138,244 56,856,692 Total liabilities,deferred inflows of resources and fund balances $ 41,861,423 $ 2,782,956 $ 4,887,553 $ 13,456,460 $ 2,994,798 $ 65,983,190 See notes to basic financial statements 14 CITY OF AVENTURA, FLORIDA RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION SEPTEMBER 30, 2018 Amounts reported for governmental activities in the statement of net position are different as a result of: Total fund balances-governmental funds(Page 14) $ 56,856,692 Capital assets used in governmental activities are not financial resources and therefore are not reported in the governmental funds. Governmental capital assets 158,808,779 Less accumulated depreciation (63,281,153) 95,527,626 Deferred outlows and deferred inflows of resources related to pensions 1,363,466 Deferred charge on refunding 372,581 Other long-term assets are not available to pay for current period expenditures and therefore are reported as unavailable revenues in the governmental funds. 135,086 Long-term liabilities, including bonds payable,are not due and payable in the current period and therefore are not reported in the governmental funds. Bonds payable (25,335,000) Total OPEB liability (716,992) Net pension liability (6,146,319) Accrued interest (53,286) Compensated absences (3,108,787) (35,360,384) Net position of governmental activities(Page 12) $ 118,895,067 See notes to basic financial statements 15 CITY OF AVENTURA,FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTALFUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,2018 Charter Street Charter School Nonmajor Total General School Maintenance Construction Governmental Governmental Fund Fund Fund Fund Funds Funds Revenues: Ad valorem taxes $ 16,747,025 $ $ $ $ $ 16,747,025 Utility taxes 8,052,694 8,052,694 Franchise fees 2,544,772 2,544,772 Licenses and permits 7,010,108 7,010,108 Intergovernmental 4,269,338 8,490,139 2,352,697 88,604 15,200,778 Charges for services 3,102,390 886,328 - 325,000 4,313,718 Fines and forfeitures 2,579,456 - - 74,239 2,653,695 mpact fees - 995,674 144,820 1,140,494 Grants 27,957 143,354 - 171,311 Investment income 448,264 31,703 41,476 82,166 46,574 650,183 Miscellaneous 71,568 197,041 - 75,000 343,609 Total revenues 44,853,572 9,605,211 3,533,201 157,166 679,237 58,828,387 Expenditures: Current: General government 5,690,396 - - - 148,959 5,839,355 Public safety 24,631,828 - 120,743 24,752,571 Community services 3,178,607 8,714,599 - 11,893,206 Public works 3,184,738 - 1,549,159 - - 4,733,897 Capital outlay 8,410,361 600,830 605,204 2,361,765 172,129 12,150,289 Debt service: Principal - - - - 1,930,000 1,930,000 Interest 769,842 769,842 Total expenditures 45,095,930 9,315,429 2,154,363 2,361,765 3,141,673 62,069,160 Excess(deficiency)of revenues over expenditures (242,358) 289,782 1,378,838 (2,204,599) (2,462,436) (3,240,773) Other financing sources(uses): Sale of general capital assets 26,285 - - - 2,275 28,560 Proceeds from debt - - 7,100,000 - 7,100,000 Transfers in - 100,000 6,432,000 2,741,335 9,273,335 Transfers out (8,597,335) (444,000) (232,000) (9,273,335) Total other financing sources(uses) (8,571,050) (344,000) 13,532,000 2,511,610 7,128,560 Net change in fund balances (8,813,408) (54,218) 1,378,838 11,327,401 49,174 3,887,787 Fund balances-beginning 45,223,633 2,410,191 3,246,011 - 2,089,070 52,968,905 Fund balances-ending $ 36,410,225 $ 2,355,973 $ 4,624,849 $ 11,327,401 $ 2,138,244 $ 56,856,692 See notes to basic financial statements 16 CITY OF AVENTURA, FLORIDA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FISCAL YEAR ENDED SEPTEMBER 30, 2018 Amounts reported for governmental activities in the statement of activities(Page 13)are different because: Net change in fund balances-total governmental funds(Page 16) $ 3,887,787 Governmental funds report capital outlays as expenditures. However,in the statement of activities,the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period. The details of the difference are as follows: Capital outlay 12,150,289 Depreciation expense (5,304,172) Net adjustment 6,846,117 The net effect of various transactions involving capital assets(i.e.,sales,trade-ins,and donations)is to increase(decrease)net position. Capital outlay which did not meet the threshold for capitalization (1,545,403) Other adjustments (26,731) Net adjustment (1,572,134) Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds. The details of the difference are as follows: Changes in Unavailable Revenue (5,600) The details of the differences are as follows: Principal payments: Bonds payable 1,930,000 Debt issuance (7,100,000) Net adjustment (5,170,000) Some expenses reported in the statement of activities do not require the use of current financial resources and,therefore,are not reported as expenditures in governmental funds. The details of the difference are as follows: Change in Total OPEB liability (49,326) Change in accrued interest (29,070) Amortization of deferred charges (39,161) Decrease in net pension liability and related expenses 222,497 Decrease in compensated absences 85,534 Net adjustment 190,564 Change in net position of governmental activities(Page 13) $ 4,176,734 See notes to basic financial statements 17 CITY OF AVENTURA, FLORIDA STATEMENT OF NET POSITION PROPRIETARY FUND SEPTEMBER 30, 2018 Sto rmwate r Utility Fund ASSETS Current assets: Cash, cash equivalents and investments $ 182,178 Due from other governments 265,697 Total current assets 447,875 Capital assets: Capital assets not being depreciated 461,321 Capital assets being depreciated, net 8,481,261 Total noncurrent assets 8,942,582 Total assets 9,390,457 LIABILITIES Current liabilities: Accounts payable 132,969 Total liabilities 132,969 NET POSITION Investment in capital assets 8,942,582 Unrestricted 314,906 Total net position $ 9,257,488 See notes to basic financial statements 18 CITY OF AVENTURA, FLORIDA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION PROPRIETARY FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Sto rmwate r Utility Fund Operating revenues: Charges for services $ 1,253,514 Operating expenses: Public Works 1,125,742 Depreciation expense 353,731 Total operating expenses 1,479,473 Operating loss (225,959) Non-operating revenues: Grant revenue 100,000 Investment income 6,449 Change in net position (119,510) Net position, beginning of year 9,376,998 Net position, end of year $ 9,257,488 See notes to basic financial statements 19 CITY OF AVENTURA, FLORIDA STATEMENT OF CASH FLOWS PROPRIETARY FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Cash flows from operating activities: Cash received from customers, users and others $ 1,307,667 Cash paid to suppliers (1,422,288) Net cash used in operating activities (114,621) Cash flows from capital and related financing activities: Acquisition and construction of capital assets (831,665) Capital grant contribution 100,000 Net cash (used in)capital and related financing activities (731,665) Cash flows provided by investing activities: Investment income received 6,449 Net cash provided by investing activities 6,449 Net decrease in cash, cash equivalents and investments (839,837) Cash, cash equivalents and investments, beginning of year 1,022,015 Cash, cash equivalents and investments, end of year $ 182,178 Reconciliation of operating loss to net cash used in operating activities: Operating income $ (225,959) Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation expense 353,731 Changes in assets and liabilities: Increase in due from other governments 54,153 Decrease in accounts payable (296,546) Total adjustments 111,338 Net cash used in operating activities $ (114,621) See notes to basic financial statements 20 CITY OF AVENTURA, FLORIDA STATEMENT OF NET POSITION FIDUCIARY FUND - CITY OF AVENTURA POLICE OFFICERS' RETIREMENT PLAN SEPTEMBER 30, 2018 ASSETS Investments, at fair value: Common stocks, net of options and futures $ 31,532,098 U.S. Government securities 5,450,449 Hedge funds 1,369,165 Corporate bonds 3,884,916 Money market funds 1,396,658 Real estate 1,567,795 Total investments 45,201,081 Receivables: Accounts receivable -sale of investments 642,402 State contribution receivable 435,103 Accrued investment income 120,092 Total receivables 1,197,597 Other assets 67,080 Total assets 46,465,758 LIABILITIES Accounts payable 5,211 Due for securities purchased 124,305 City excess contribution 68,845 Total liabilities 198,361 Net position restricted for pensions $ 46,267,397 See notes to basic financial statements 21 CITY OF AVENTURA, FLORIDA STATEMENT OF CHANGES IN NET POSITION FIDUCIARY FUND - CITY OF AVENTURA POLICE OFFICERS' RETIREMENT PLAN FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Additions: Contributions: Employer $ 1,516,119 Employees 956,612 State of Florida, premium tax 435,103 Total contributions 2,907,834 Investment income: Net appreciation in fair value of investments 2,998,475 Interest and dividend income 857,077 Miscellaneous income 5,614 Total investment income 3,861,166 Less: investment expenses (348,302) Net investment income 3,512,864 Total additions 6,420,698 Deductions: Administrative expenses 68,852 Benefits paid 687,155 Total deductions 756,007 Change in net position 5,664,691 Net position restricted for pensions: Beginning of year 40,602,706 End of year $ 46,267,397 See notes to basic financial statements 22 rl` m M OOOI% r.onow 14 NOTES TO BASIC FINANCIAL STATEMENTS CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Aventura, Florida (the "City") was incorporated on November 7, 1995. The City operates under a commission-manager form of government and provides the following full range of municipal services as authorized by its charter: public safety, highways and streets, building, licensing and code compliance, culture and recreation, public works and stormwater management, public records and general administrative services. The Comprehensive Annual Financial Report(the "CAFR")of the City includes all funds. The financial statements of the City have been prepared to conform with accounting principles generally accepted in the United States of America ("GAAP")as applicable to state and local governments. The Governmental Accounting Standards Board ("GASB") is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. Significant accounting and reporting policies and practices used by the City are described below: A. Financial Reporting Entity The financial statements were prepared in accordance with Government Accounting Standards,which establishes standards for defining and reporting on the financial reporting entity. The definition of the financial reporting entity is based upon the concept that elected officials are accountable to their constituents for their actions. One of the objectives of financial reporting is to provide users of financial statements with a basis for assessing the accountability of the elected officials. The financial reporting entity consists of the City, organizations for which the City is financially accountable and other organizations for which the nature and significance of their relationship with the City are such that exclusion would cause the reporting entity's financials statements to be misleading or incomplete. The City is financially accountable for a component unit if it appoints a voting majority of the organization's governing board and it is able to impose its will on that organization or there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on the City of Aventura. Based upon the application of these criteria,there were no organizations that met the criteria described above. B. Government Wide and Fund Financial Statements The basic financial statements include both government-wide (based on the City as a whole) and fund financial statements. The government-wide financial statements(i.e.,the statement of net position and the statement of activities)report information on all activities of the City. As a general rule, the effect of interfund services provided and used has been eliminated from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues,are reported separately from business-type activities,which rely to a significant extent on fees and charges for services. The government-wide statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those expenses that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operation or capital requirements of a particular function or segment.Taxes and other items not properly included among program revenues are reported instead as general revenues. The net cost(by function)is normally covered by general revenue(i.e., property taxes,sales taxes,franchise taxes, unrestricted intergovernmental revenues, interest income, etc.). Separate fund financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements. The focus of fund financial statements is on major funds. Major individual governmental funds and the major individual enterprise fund are reported as separate columns in the fund financial statements. GASB Statement No. 34 sets forth minimum criteria (percentage of assets/deferred outflows, liabilities/deferred inflows, revenues or expenditures/expenses of either fund category for the governmental and enterprise, combined or funds that management deems of public importance) for the determination of major funds. The nonmajor funds are combined and presented in a single column in the fund financial statements. 23 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) B. Government Wide and Fund Financial Statements(Continued) The government-wide-focus is more on the-sustainability of the City as an entity and the-change in aggregate financial position resulting from the activities of the fiscal period. The focus of the fund financial statements is on the major individual funds of the governmental and business-type categories, (by category). Each presentation provides valuable information that can be analyzed and compared to enhance the usefulness of the information. C. Measurement Focus, Basis of Accounting and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting,as are the proprietary and fiduciary fund financial statements. Revenues are recorded when earned and,expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year when an enforceable lien exists and when levied for Grants and similar items are recognized as revenues as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, pension, other postemployment benefits and claims and judgments, are recorded only when due. Property taxes when levied for, franchise fees, utility taxes, charges for services, impact fees, intergovernmental revenues when eligibility requirements are met and investment income associated with the current fiscal period are all considered to be measurable and have been recognized as revenues of the current fiscal period, if available.All other revenue items such as fines and forfeitures and licenses and permits are considered to be measurable and available when cash is received by the City. Proprietary fund-type operating statements present increases (e.g., revenues)and decreases (e.g., expenses) in total net position. Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the proprietary fund are charges to customers for sales and services. Operating expenses for proprietary funds include the costs of sales and services, administrative expenses and depreciation on capital assets. All revenues and expenses that do not meet this definition are reported as non-operating revenues or expenses. The City reports the following major governmental funds: General Fund This fund is the principal operating fund of the City. All general tax revenues and other receipts that are not allocated by law or contractual agreement to another fund are accounted for in this fund. Charter School Fund This fund is used to account for revenues and expenditures from the operations of the Aventura City of Excellence School,a special revenue fund of the City. Street Maintenance Fund This fund is used to account for revenues and expenditures, which by State Statue are designated for street maintenance and construction costs. Charter High School Construction Fund This fund was established to account for the funding sources and uses relate to the construction and equipping of the Aventura Charter High School. 24 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) C. Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued) The City reports the following proprietary fund: Stormwater Utility Fund This fund accounts for the operation of the City's stormwater system. Additionally,the government reports the following fiduciary fund type: City of Aventura Police Officers'Retirement Plan This fund accounts for the activities of the Police Officers' Retirement Plan that accumulates resources for pension benefits to qualifying police officers. The financial statements of the City have been prepared in accordance with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the standard setting body for governmental accounting and financial reporting. The financial statements of the City follow the guidance of GASB Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements for both the government wide and proprietary fund financial statements. Governments also have the option of following subsequent FASB pronouncements for their business type activities and enterprise funds subject to this same limitation.The City has elected not to follow subsequent FASB guidance. As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Amounts reported as program revenues include: 1) charges to customers or applicants for goods, services or privileges provided and fines and forfeitures,2)operating grants and contributions and 3)capital grants and contributions. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. 1. Cash, cash equivalents and investments-Cash and cash equivalents are defined as demand deposits, money market accounts and other short-term investments with original maturities of three months or less from the date of acquisition. The City maintains a pooled cash account for all funds. This enables the City to invest large amounts of idle cash for short periods of time and to optimize earnings potential. Cash, cash equivalents and investments represents the amount owned by each City fund. Resources of all funds, with the exception of the pension fund, are also combined into investment pools for the purpose of maximizing investment yields. Earnings on pooled cash and investments are allocated monthly based on balances of the respective funds. The City's investments are reported attheirfairvalue based on quoted market prices as reported by recognized security exchanges except for the Guaranteed Investment Contract which is recorded at cost and the City's investment in the Florida PRIME which is recorded at the amortized cost method. The pension plan's investments in common stocks, U.S.government securities, hedge funds,corporate bonds, and real estate are reported at fair value based on quoted market prices. Investments in money market funds are generally valued at amortized cost. 2. Receivables and payables - Activities between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either"due to/from other funds" (the current portion of interfund loans)or"advances to/from other funds"(the noncurrent portions of interfund loans). Any residual balances outstanding between the governmental activities and business activities are reported in the government-wide financial statements as"internal balances." 3. Prepaid expenses/expenditures- Certain payments to vendors reflect costs applicable to a future accounting period and are recorded as prepaid items in both government-wide and fund financial statements. 4. Inventories - Inventories are valued at the lower of cost (first-in, first-out) or market. These amounts are reported as nonspendable in governmental fund financial statements. Inventory is accounted for using the consumption method whereby inventories are recorded as expenditures when they are used. 25 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) C. Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued) 5. Capital assets - Capital assets purchased or acquired with an original cost of$5,000 or more are reported at historical cost or estimated historical cost. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement should be reported at acquisition value rather than fair value.Additions, improvements and other capital outlays that significantly extend the useful life of an asset are capitalized.Other costs incurred for repairs and maintenance are expensed as incurred. Depreciation on all assets is provided on the straight-line basis over the following estimated useful lives: Buildings 25 Improvements other than buildings 20-30 Infrastructure 20-40 Furniture, machinery and equipment 3-20 Within governmental funds, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported within the governmental fund financial statements. 6. Deferred outflows/inflows of resources-In addition to assets,the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s)and so will not be recognized as an outflow of resources (expense/expenditure) until then. The City has pension related amounts and deferred charges on refunding that qualify for reporting in this category on the government-wide statement of net position in the amount of$3,047,335 and $372,581, respectively. Deferred charge on refunding reported results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunding debt. In addition to liabilities, the statement of net position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s)and so will not be recognized as inflows of resources (revenue) until that time. The City has pension related amounts and unavailable revenues that qualify for reporting in this category in the amount of$1,683,869 and $135,086, respectively. Unavailable revenues consist of intergovernmental revenue and utility service taxes. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. 7. Compensated absences payable -The City's sick leave policy permits employees to accumulate earned but unused sick pay benefits. Upon termination,sick pay is paid out, between 0- 100%based on length of service. The City's vacation policy is that earned vacation is cumulative although limited to certain maximums based on length of service. Accumulated compensated absences are recorded in the government-wide and proprietary fund financial statements when earned. Expenditures for accumulated compensated absences have been recorded in the governmental funds only if they have matured, (e.g., resulting from employee resignations and retirements). Payments are generally paid out of the General Fund. 8. Long-term obligations - In the government-wide financial statements and proprietary fund types in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities or proprietary fund type statement of net position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the straight line method, which approximates the effective interest method. Bonds payable are reported net of the applicable premiums and discounts, if applicable. In the fund financial statements,governmental fund types recognize bond premiums and discounts during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. 26 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) C. Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued) 9. Net position- Net position in the government-wide and proprietary funds are categorized as net investment in capital assets; restricted or unrestricted. Net investment in capital assets, is the difference between the cost of capital assets, less accumulated depreciation reduced by the outstanding balances of any borrowings used for the acquisition, construction or improvement of those assets. Restricted consists of net position with constraints placed on their use by external parties(creditors, grantors, contributors, or laws or regulations of other governments)or imposed by law through constitutional provisions or enabling legislation. Unrestricted indicates that portion of net position that is available to fund future operations. Sometimes the government will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted— net position and unrestricted — net position in the government-wide and proprietary fund financial statements, a flow assumption must be made about the order in which the resources are considered to be applied. It is the government's policy to consider restricted — net position to have been depleted before unrestricted — net position is applied. 10. Fund balance - The City follows GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions which requires that governmental fund financial statements present fund balances based on classifications that comprise a hierarchy that is based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in the respective governmental funds can be spent.The classifications used in the governmental fund financial statements are as follows: Nonspendable This classification includes amounts that cannot be spent because they are either (a) not in spendable form or(b)are legally or contractually required to be maintained intact. "Not in spendable form" includes items that are not expected to be converted to cash (such as inventories and prepaid amounts)and items such as long-term amount of loans and notes receivable, as well as property acquired for resale. The corpus (or principal) of a permanent fund is an example of an amount that is legally or contractually required to be maintained intact. Restricted This classification includes amounts for which constraints have been placed on the use of the resources either (a) externally imposed by creditors (such as through a debt covenant), grantors, contributors, or laws or regulations of other governments, or (b) imposed by law through constitutional provisions or enabling legislation. Committed This classification includes amounts that can be used only for the specific purposes determined by a formal action of the government's highest level of decision making. The City Commission is the highest level of decision-making authority for the government that can, by adoption of an ordinance prior to the end of the fiscal year, commit fund balance. Once adopted, the limitation imposed by the ordinance remains in place until a similar action is taken (the adoption of another ordinance)to remove or revise the limitation. Assigned This classification includes amounts that are constrained by the City's intent to be used for a specific purpose but are neither restricted nor committed. The City Commission has by resolution authorized the City Manager to assign fund balance.The City Commission may also assign fund balance as it does when appropriating fund balance to cover a gap between estimated revenue and appropriations in the subsequent year's budget. Unlike commitments,assignments generally can only exist temporarily.In other words, an additional action does not normally have to be taken for the removal of an assignment. Conversely, as discussed previously, an additional action is essential to either remove or revise a commitment. 27 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) C. Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued) 10. Fund balance (Continued) Unassigned This classification includes the residual fund balance for the General Fund. This classification represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the General Fund. Unassigned fund balance may also include negative balances for any governmental fund if expenditures exceed amounts restricted, committed or assigned for those specific purposes. The City uses restricted amounts to be spent first when both restricted and unrestricted fund balance is available unless there are legal documents/contracts that prohibit doing this,such as in grant agreements requiring dollar for dollar spending.Additionally,the City would first use committed fund balance,followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. 11. Fund balance policies-The City's policy is to maintain an adequate General Fund balance to meet seasonal shortfalls in cash flow and reduce susceptibility to emergency and unanticipated expenditures and/or revenue shortfalls. Minimum Level of Unassigned Fund Balance of the General Fund At the beginning of each fiscal year, the total unassigned fund balance shall not be less than 10% of the annual General Fund revenue. In any fiscal year where the City's unassigned fund balance falls below the required 10%threshold,the City shall not budget any amounts of unassigned fund balance forthe purpose of balancing the budget. In addition, the City Manager will make every effort to reestablish the minimum unassigned fund balance in a 24—36 month period beginning with the year from which the reserve funds fell below the 10%threshold. Hurricane/Emergency and Disaster Recovery Reserve The City's Commission has adopted a fund balance reserve policy to maintain a Hurricane/Emergency and Disaster Recovery's Operating Reserve at a minimum level of$5,000,000. 12. Net position flow of assumption - Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted resources. In order to calculate the amounts to report as restricted-net position and unrestricted-net position in the government-wide financial statements,a flow assumption must be made about the order in which resources are considered to be applied. It is the City's policy to consider restricted net position to have been depleted before unrestricted-net position is applied. 13. Encumbrances - Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of funds are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration. Encumbrances are recorded at the time a purchase order or other commitment is entered into. Encumbrances outstanding at year-end represent the estimated amount of expenditures which would result if unperformed purchase orders and other commitments at year-end are completed. Encumbrances lapse at year-end; however, the City generally intends to honor purchase orders and other commitments in process.As a result, encumbrances outstanding at year-end are re-appropriated in the next fiscal year and are therefore presented as committed or assigned fund balance for the subsequent year. 14. Use of estimates- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures.Accordingly, actual results could differ from those estimates. 28 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 2 - PROPERTY TAXES Property taxes are assessed as of January 1 each year and are first billed (levied) and due the following November 1. Under Florida law, the assessment of all properties and the collection of all county, municipal, school board and special district property taxes are consolidated in the Offices of the County Property Appraiser and County Tax Collector. The laws for the State regulating tax assessments are also designed to assure a consistent property valuation method statewide. State statutes permit municipalities to levy property taxes at a rate of up to 10 mills ($10 per $1,000 of assessed taxable valuation). The millage rate assessed by the City for the year ended September 30, 2018 was 1.7261 mills. The City's tax levy is established by the City Commission prior to October 1 of each year, and the County Property Appraiser incorporates the millage into the total tax levy, which includes Miami-Dade County, Miami-Dade County School Board and certain other special taxing districts. All property is reassessed according to its fair market value as of January 1 each year. Each assessment roll is submitted to the Executive Director of the Florida Department of Revenue for review to determine if the assessment rolls meet all of the appropriate requirements of State Statutes. All real and tangible personal property taxes are due and payable on November 1 each year or as soon as practicable thereafter as the assessment roll is certified by the County Property Appraiser. Miami-Dade County mails each property owner on the assessment roll a notice of the taxes due and collects the taxes for the City. Taxes may be paid upon receipt of the notice from Miami-Dade County, with discounts at the rate of 4% if paid in the month of November, 3% if paid in the month of December,2% if paid in the month of January and 1%if paid in the month of February. Taxes paid during the month of March are without discount, and all unpaid taxes on real and tangible personal property become delinquent and liens are placed on April 1 of the year following the year in which the taxes were assessed. Procedures for the collection of delinquent taxes by Miami-Dade County are provided for in the laws of Florida. There were no material delinquent property taxes as of September 30, 2018. NOTE 3 - DEPOSITS AND INVESTMENTS Deposits The City's custodial credit risk policy is in accordance with Florida Statutes. Florida Statutes authorize the deposit of City funds in demand deposits or time deposits of financial institutions approved by the State Treasurer. These are defined as public deposits.All City public deposits are held in qualified public depositories pursuant to Chapter 280, Florida Statutes, "Florida Security for Public Deposits Act." Under the act, all qualified public depositories are required to pledge eligible collateral having a market value equal to or greater than the average daily or monthly balance of all public deposits times the depository's collateral pledging level. The collateral pledging level may range from 50% to 125% depending upon the depository's financial condition and the length of time that the depository has been established. All collateral must be deposited with the State Treasurer. Any losses to public depositors resulting from insolvency are covered by applicable deposit insurance, sale of securities pledged as collateral and, if necessary, assessment against other qualified public depositories of the same type as the depository in default.The City's bank balances were insured either by the Federal depository insurance corporation or collateralized in the bank's participation in the Florida Security for Public Deposits Act. The Florida SBA Pool, hereinafter referred to as "Florida PRIME", is not a registrant with the Securities and Exchange Commission ("SEC"); however, its board has adopted operating procedures consistent with the requirements for a 2a-7 fund. For the Florida PRIME, a 2a-7 like pool, the value of the City's position is the same as the value of the pool shares and is recorded at amortized cost.At September 30, 2018,the City's investment in the Florida PRIME was that of$30,882,093. In accordance with these requirements,the method used to determine the participants'shares sold and redeemed is the amortized cost method.Amortized cost includes accrued income and is a method of calculating an investment's value by adjusting its acquisition cost for the amortization of discount or premium over the period from purchase to maturity. 29 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 3 - DEPOSITS AND INVESTMENTS (CONTINUED) Deposits(Continued) Thus, the City's account balance in the SBA is its amortized cost. The SBA is governed by Chapter 19-7 of the Florida Administrative Code. These rules provide guidance and establish the general operating procedures for the administration of the SBA. Additionally, the Office of the Auditor General of the State of Florida performs the operational audit of the activities and investment of the SBA. The SBA accounts are not subject to custodial credit risk as these investments are not evidenced by securities that exist in physical or bank entry form. In accordance with GASB Statement No. 79, Certain Extemal Investment Pools and Pool Participants, the City's investment in the Florida PRIME meets the definition of a qualifying investment pool that measures for financial reporting purposes all of its investments at amortized cost and should disclose the presence of any limitations or restrictions on withdrawals. As of September 30, 2018, there were no redemption fees or maximum transaction amounts, or any other requirements that serve to limit a participant's daily access to 100 percent of their account value. Investments On October 10, 2016,the City re-adopted Chapter 6.6 of the Administrative Policy and Directives and Procedures Manual, entitled "Investments Objective and Parameters," as the City's Investment Policy for the management of Public Funds("the policy").The policy was created in accordance with Section 218.415, Florida Statutes.The policy applies to all investments held and controlled by the City, with the exception of the Police Officers' Pension Plan and its debt issuance where there are other existing policies or indentures in effect for the investment of related funds. The City's policy for investments other than pension plan and debt issuance is summarized herein. The Finance Director has responsibility for the type of investments the City makes. The investment policy establishes permitted investments,asset allocation,issuer limits,credit rating requirements and maturity limits to protect the City's assets. All investment securities are held by a Trust custodian, and are managed by financial advisors. In general, the City's policy allows to invest, in the following: (1)securities and obligations of the United States and its agencies; (2) nonnegotiable interest bearing time deposits or savings accounts provided that such deposits are secured by collateral as prescribed by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes; (3) repurchase agreements collateralized by full or general faith and credit obligations of the U. S. Government or Agency securities; (4) the Florida Local Government Surplus Funds Trust Fund "SBA"; (5) intergovernmental investment pools authorized pursuant to the Florida Interlocal Cooperation Act, provided by Section 163.01, Florida Statutes, and provided that such funds contain no derivatives; (6) money market mutual funds - registered investment companies with the highest credit quality rating; (7) commercial paper of any U.S. company; (8) corporate notes; (9) asset backed securities issued by corporations organized and operating within the United States or by depository institutions licensed by the United States; (10)taxable/tax-exempt municipal bonds; and (11) Israel bonds. The City policy for pension investments is under the oversight of the Plan's Board of Trustees (the "Board"). The Board contracts with investment advisory firms and approves any new investment vehicles presented by the consultants. The Board follows all applicable state statutes. The City has a Guaranteed Investment Contract("GIC")that is not subjectto interest rate risk classification because it is a direct contractual investment and is not a security. The GIC also is not rated for credit risk classification purposes.The GIC provides for a guaranteed return on investments over a specific period of time at a rate of 5.04% per annum. The collateral value of the GIC as of September 30, 2018 is $505,285 and is expected to continue to be sufficient to meet the reserve fund requirement for the Series 2000 Revenue Bond of a minimum of$500,000. The GIC is recorded at the contract amount which is$500,594. 30 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 3 - DEPOSITS AND INVESTMENTS (CONTINUED) Investments(Continued) As of September 30, 2018,the City's cash, cash equivalents and investments consisted of the following: Cash and cash equivalents and investments: State Board of Administration-SBA, Florida PRIME $ 30,882,093 Deposits with financial institutions 10,717,229 Government bonds 6,744,129 Government agencies 5,173,982 Corporate bonds 4,190,570 Government mortgage backed securities 1,153,481 Asset backed securities 1,079,832 Guaranteed investment contract 500,533 Short term bills and notes 232,842 International Bonds 150,000 Government issued commercial mortgage backed securiti 63,506 Cash 217,479 Total cash and cash equivalents and investments 61,105,676 Fiduciary fund investments: Common stocks, net of options and futures 31,532,098 U.S. Government securities 5,450,449 Hedge funds 1,369,165 Corporate bonds 3,884,916 Money market funds 1,396,658 Real estate 1,567,795 Total fiduciary investments 45,201,081 $ 106,306,757 Cash, cash equivalents and investments are classified in the accompanying financial statements as follows: Statement of Net Position: Cash, cash equivalents and investments $ 60,605,143 Restricted cash, cash equivalents and investments 500,533 61,105,676 Statement of Net Position-Fiduciary Fund: Common stocks, net of options and futures 31,532,098 U.S. Government securities 5,450,449 Hedge funds 1,369,165 Corporate bonds 3,884,916 Money market funds 1,396,658 Real estate 1,567,795 45,201,081 $ 106,306,757 31 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 3 - DEPOSITS AND INVESTMENTS (CONTINUED) Interest Rate Risk The City's policy is to limit its exposure to fair value losses arising from changes in interest rates by 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, and investing operating funds primarily in shorter- term securities, money market mutual funds or similar investment pools. This is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. The City's policy is that unless matched with specific cash flow, the City will not directly invest in securities maturing more than seven (7) years from the date of purchase. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds to ensure that proper liquidity is maintained to meet ongoing obligations. The City does not have a formal investment policy for its pension funds that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. The dollar weighted average days to maturity (WAM) of Florida PRIME at September 30, 2018, is 33 days. Next interest rate reset dates for floating rate securities are used in the calculation of the WAM. The weighted average like (WAL)of Florida PRIME at September 30, 2018, is 72 days. Information about the exposure of the City's debt-type investments to this risk using the segmented time distribution model is as follows: Time to Maturity(in Years) Greater Fair Less Than 1-5 6-10 Than Summary of Investments and Interest Rate Risk Value 1 Year Years Years 10 Years City Investments: State Board of Administration-SBA,Florida PRIME $ 30,882,093 $ 30,882,093 $ - $ $ Government Bonds 6,744,129 1,886,397 4,857,732 Government Agencies 5,173,982 3,248,619 1,925,363 Corporate bonds 4,190,570 1,963,295 2,227,275 Asset backed securities 1,079,832 - 1,079,832 Government issued commercial mortgage backed securit 63,506 - 63,506 Short term bills and notes 232,842 232,842 - - Government mortgage backed securities 1,153,481 1,929 201,415 749,418 200,719 Guaranteed investment contract 500,533 - 500,533 - - International Bonds 150,000 - 150,000 Subtotal-City Investments 50,170,968 38,215,175 11,005,656 749,418 200,719 Fiduciary Fund: U.S.Government securities 4,486,707 680,941 2,301,485 1,504,281 - Corporate bonds 3,884,916 1,055,795 2,492,938 336,183 Fixed income mutual fund 963,742 199,000 238,838 525,904 Subtotal-Fiduciary Fund 9,335,365 1,935,736 5,033,261 2,366,368 - Total Investments $ 59,506,333 $ 40,150,911 $ 16,038,917 $ 3,115,786 $ 200,719 32 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 3 - DEPOSITS AND INVESTMENTS (CONTINUED) Credit Risk(Continued) Generally, credit risk is the risk that an issuer of a debt-type investment will not fulfill its obligation to the holder of the investment. This is measured by assignment of a rating by a nationally-recognized rating organization. The City's investment policy provides strict guidelines and limits investments to highly rated securities with minimum ratings of A(long term securities), A-1/P-1 (short term securities), and AAAm (money market mutual funds). The Finance Director shall determine the appropriate action for any investment held that is downgraded below the minimum rating by one or more rating agencies. U.S.government securities or obligations explicitly guaranteed by the U.S. government are not considered to have credit risk exposure. The pension fund limits its credit risk by limiting its fixed income investments to securities with the top (4) ratings issued by nationally recognized statistical rating organizations. The City's and fiduciary fund's portfolio is rated by Standard &Poor's and Moody's Investor Services, respectively, as follows: Rating Fair Value City Investments: AAAm $ 30,882,093 A 931,783 A- 606,176 A+ 1,448,653 A-1+ 348,738 AA 330,720 AA 821,402 AA+ 13,071,038 AAA 555,647 Not Rated 1,174,718 50,170,968 Fiduciary Fund: Al 718,511 A2 804,761 A3 125,483 Aa2 124,969 Aa3 123,642 AAA 3,704,318 Not Rated 3,733,681 9,335,365 $ 59,506,333 33 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 3 - DEPOSITS AND INVESTMENTS (CONTINUED) Concentration The City's policy is to maintain a diversified portfolio to minimize the risk of loss resulting from concentration of assets in a specific issuer. Specific limits have been established which limit the percentage of portfolio assets that can be invested with a specific issuer. GASB Statement No.40,Deposit and Investment Risk Disclosures, requires disclosure when the percentage is 5% or more in any one issuer. Investments issued or explicitly guaranteed by the U.S.government and investments in mutual funds external investments pools, or other pooled investments are excluded from this requirement.At September 30,2018,the City had investments in the Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac)and the Federal Home Loan Banks (FHLB)amounting to 3.3%, 3.1%and 3.8%, respectively, of the total investments held by the City. The pension fund limits investments that may be invested in any one issuer to no more than 5% of plan's net position, other than those issued by the U.S. Government or its Agencies. More than 5%of the plan's net position is invested in debt securities issued by the Unites States Treasury. The United States Treasury investments represented 10%of Plan's Net Position. Given the restriction to the highest rating,this concentration is not viewed to be an additional risk to the City. Custodial Credit Risk For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty (e.g., broker- dealer)to a transaction,a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The City's investment policy requires securities, with the exception of certificates of deposit,to be registered in the City's name and held with a third party custodian. Foreign Credit Risk For an investment,foreign credit risk is the risk that fluctuations in currency exchange rates may affect transactions conducted in currencies other than U.S. dollars and the carrying value of foreign investments. The City is not exposed to foreign credit risk. The pension fund's investments include American Depository Receipts ("ADRs"), which are non-U.S. equity issued in U.S. dollars and have no foreign credit risk. The total of the investments in foreign securities,which consist of ADR's and foreign bonds,is$7,566,286.The investment policy limits the foreign investments to no more than 12.5% of the plan's investments balance. At September 30, 2018, these foreign investments were 17%of the total investments. NOTE 4 - FAIR VALUE MEASUREMENTS The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. 34 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 4 - FAIR VALUE MEASUREMENTS (CONTINUED) The City has the following recurring fair value measurements as of September 30, 2018: Fair Value Measurements at Reporting Date Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs September 30,2018 Fair Value Level 1 Level 2 Level 3 City investments: Asset backed securities $ 1,079,832 $ $ 926,362 $ 153,470 Corporate bonds 4,190,570 4,151,499 39,071 Government agencies 5,173,982 5,173,982 - Government bonds 6,744,129 6,744,129 - Government mortgage backed securities 1,153,481 1,153,216 265 Government issued commercial mortgage backed securities 63,506 63,506 - Short term bills and notes 103,917 103,917 Foreign 128,925 128,925 Subtotal-city investments 18,638,342 128,925 18,316,611 192,806 Fiduciary fund: Common stocks 28,922,910 28,922,910 - - U.S.government securities 4,486,707 4,486,707 - Corporate bonds 3,884,916 - 3,884,916 U.S.agency securities 963,742 - 963,742 Equity mutual funds 2,609,188 2,609,188 Subtotal-investments by fair value level 40,867,463 36,018,805 4,848,658 Investments measured at the Net Asset Value(NAV)(a) Hedge funds 1,369,165 Real estate fund 1,567,795 Subtotal-investments measured at the NAV 2,936,960 Money market funds(exempt) 1,396,658 Subtotal-fiduciary fund 45,201,081 Total investments $ 63,839,423 $ 36,018,805 $ 23,165,269 $ 192,806 (a) As required by GAAP, certain investments that are measured at net asset value have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total investment line item in the Statement of Fiduciary Net Position. City Investments The City's Debt Securities of approximately $18,316,611 classified in Level 2 of the fair value hierarchy are valued using a matrix pricing technique. Matrix pricing is used to value securities based on the securities' relationship to benchmark quoted prices. 35 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 4 - FAIR VALUE MEASUREMENTS (CONTINUED) Fiduciary Fund The following is a description of the valuation methodologies used for asset measured at fair value. • Common stock:Valued at the closing price reported on the New York Stock Exchange. • Government securities: Valued using pricing models maximizing the use of observable inputs for similar securities. • Corporate bonds: Valued using pricing models maximizing the use of observable inputs for similar securities.This includes basing the value on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the bond is valued under a discounted cash flows approach that maximizes observable inputs,such as current yield of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks or a broker quote, if available. • Hedge funds:Value based on the net asset value per share,without further adjustment. Net asset value is based upon the fair value of the underlying investment. • Real estate:Valued at the net asset value of shares held by the Plan at year end.The Plan has investments in private market real estate investments for which no liquid public market exists. • The Plan has investment in a private market real estate investment for which no liquid public market exists. The following table summarizes investments for which fair value is measured using the net asset value per share practical expedient, including their related unfunded commitments and redemption restrictions: Redemption Unfunded Frequency(if Redemption Invesments Measured at the NAV Fair Value Commitments Currently Eligible) Notice Period Hedge fund(1) $ 471,845 $ Quarterly 90 Days Hedge fund(2) 897,320 Quarterly 95 Days Real estate fund(3) 1,567,795 Quarterly 65 Days Total investments measured at the NAV $ 2,936,960 $ (1) Hedge fund:The fund is a multi-strategy fund of hedge funds that aims to pursue varying strategies in order to diversify risk and reduce volatility.The fund is a diversified portfolio offering investment solutions through activist long/short equity, credit/special situations, event driven and arbitrage, global long/short equity and other opportunistic situations.The investment is valued at NAV and is redeemable on a quarterly basis. (2) Hedge fund: The fund is a diversified portfolio of relative value and event driven hedge funds with a focus on credit strategies.The fund seeks to invest with managers that demonstrate limited exposure to eight key sources of risk, including market risks (equities, interest rates, currencies, commodities, and unsecured credit) and trading risks (excessive leverage, asset/liability mismatch, and high concentration). The investment is valued at NAV and is redeemable on a quarterly basis. (3) Real estate fund: The fund is an open-end core real estate fund with a diversified portfolio of income producing properties located throughout the United States. The investment is valued at NAV and is redeemable on a quarterly basis. 36 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 5 - RECEIVABLES Receivables as of September 30, 2018 for the City's individual major funds and non-major funds in the aggregate consist of the following: Charter Street Nonmajor General School Maintenance Stormwater Governmental Fund Fund Fund Fund Funds Total Receivables: Franchise and utility $ 485,221 $ - $ - $ - $ - $ 485,221 Intergovernmental 726,321 8,947 434,904 265,697 404 1,436,273 Police services 57,469 - - - - 57,469 Vendors and miscellaneous 577,237 3,517 - 29,433 610,187 Net total receivables $ 1,846,248 $ 12,464 $ 434,904 $ 265,697 $ 29,837 $ 2,589,150 NOTE 6 - INTERFUND TRANSFERS Interfund transfers during the year ended September 30,2018 were as follows: Transfers In Transfers Out General Fund $ - 8,597,335 Charter School Fund 100,000 444,000 Charter School Construction Fund 6,432,000 - Nonmajor governmental funds 2,741,335 232,000 $ 9,273,335 $ 9,273,335 Transfers are used to: (1) move revenues from the fund that statute or budget requires to collect them,to the fund that statute or budget requires to expend them from or (2) use of unrestricted revenues collected in the General Fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. The transfer to the Charter School Fund consists of$100,000 from the General Fund which is being used to support future capital projects occurring in the Charter School Special Revenue Fund. The remaining transfers represent transfers to meet debt service requirements in the Debt Service Funds. 37 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 7 - CAPITAL ASSETS Capital assets activity for the year ended September 30, 2018 was as follows: Balance Retirements Balance September 30, and September 30, 2017 Additions Transfers 2018 Governmental activities: Capital assets,not being depreciated: Land $ 21,022,864 $ 3,146,308 $ - $ 24,169,172 Construction in progress 1,928,728 5,930,145 (1,328,253) 6,530,620 Total capital assets,not being depreciated 22,951,592 9,076,453 (1,328,253) 30,699,792 Capital assets,being depreciated: Buildings 49,094,273 198,740 - 49,293,013 Improvements other than buildings 15,775,640 202,956 (4,522) 15,974,074 Infrastructure 41,243,334 1,431,730 - 42,675,064 Furniture,machinery and equipment 19,747,362 1,023,261 (603,787) 20,166,836 Total capital assets,being depreciated 125,860,609 2,856,687 (608,309) 128,108,987 Less accumulated depreciation for: Buildings 17,115,124 1,494,022 18,609,146 Improvements other than buildings 5,642,169 623,468 6,265,637 Infrastructure 21,240,072 1,555,085 (1,959) 22,793,198 Furniture,machinery and equipment 14,561,283 1,631,597 (579,708) 15,613,172 Total accumulated depreciation 58,558,648 5,304,172 (581,667) 63,281,153 Total capital assets,being depreciated,net 67,301,961 (2,447,485) (26,642) 64,827,834 Governmental activities capital assets,net $ 90,253,553 $ 6,628,968 $ (1,354,895) $ 95,527,626 Business-type activities: Capital assets,not being depreciated: Construction in progress $ 2,158,260 $ 856,927 $ (2,553,866) $ 461,321 Total capital assets,not being depreciated 2,158,260 856,927 (2,553,866) 461,321 Capital assets,being depreciated: Infrastructure 10,294,414 2,528,604 12,823,018 Less accumulated depreciation 3,988,026 353,731 4,341,757 Total capital assets,being depreciated,net 6,306,388 2,174,873 8,481,261 Business-type activities capital assets,net $ 8,464,648 $ 3,031,800 $ (2,553,866) $ 8,942,582 Depreciation expense was charged to functions/programs of the primary government as follows: Governmental activities: General government $ 355,652 Public safety 1,338,889 Community services 2,054,546 Public works 1,555,085 $ 5,304,172 Business-type activities: Stormwater utility $ 353,731 38 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 8 - LONG-TERM LIABILITIES OF GOVERNMENTAL ACTIVITIES Changes in Governmental Activities long-term liabilities during the year ended September 30,2018 were as follows: Balance Balance Due Within September 30,2017 Additions Reductions September 30,2018 One Year Series 2000 Revenue Bonds payable $ 1,815,000 $ $ (415,000) $ 1,400,000 $ 435,000 Series 2010 Refunding Revenue Bonds payable 7,595,000 (525,000) 7,070,000 545,000 Series 2011 Refunding Revenue Bonds payable 4,090,000 (280,000) 3,810,000 285,000 Series 2012 Refunding Revenue Bonds payable 6,665,000 (600,000) 6,065,000 615,000 Series 2018 Capital Revenue Bonds payable 7,100,000 (110,000) 6,990,000 240,000 Compensated absences payable 3,194,321 1,547,241 (1,632,775) 3,108,787 1,088,075 Net Pension Liability 7,886,348 5,300,653 (7,040,682) 6,146,319 - Other post-employment benefits 667,756 49,236 716,992 - $ 31,913,425 $ 13,997,130 $ (10,603,457) $ 35,307,098 $ 3,208,075 Compensated absences, net pension liability and other post-employment benefits attributable to governmental activities are generally liquidated by the General Fund. Revenue bonds as of September 30, 2018 were comprised of the following: Series 2000 Revenue Bonds, principal is due annually over 20 years in various amounts through October 2020. The bonds bear interest at 5.04% and are payable semi-annually on October 1 and April 1 of each year. The bonds are collateralized by available Non-Ad Valorem revenues. $ 1,400,000 Series 2010 Refunding Revenue Bonds, principal is due annually over 18 years in various amounts through April 2029. The bonds bear interest at 3.42% and are payable semi- annually on October 1 and April 1 of each year. The bonds are collateralized by available Non- Ad Valorem revenues. 7,070,000 Series 2011 Refunding Revenue Bonds, principal is due annually over 18 years in various amounts through April 2029. The bonds bear interest at 3.64% and are payable semi- annually on October 1 and April 1 of each year. The bonds are collateralized by available Non- Ad Valorem revenues. 3,810,000 Series 2012 Refunding Revenue Bonds, principal is due annually over 15 years in various amounts through August 2027. The bonds bear interest at 2.18% and are payable semi- annually on February 1 and August 1 of each year. The bonds are collateralized by available Non-Ad Valorem revenues. 6,065,000 Series 2018 Revenue Bonds, principal is due annually over 15 years in various amounts through August 2027. The bonds bear interest at 3.68% and are payable semi-annually on February 1 and August 1 of each year. The bonds are collateralized by available Non-Ad Valorem revenues. 6,990,000 $ 25,335,000 Series 2000 Revenue Bonds The City previously issued $6,555,000 in Series 2000 Revenue Bonds to finance the acquisition of land for parks and recreational purposes and for the construction of a community recreation center. The bond indenture relating to this issue requires that a reserve fund of$500,000 be established, the balance of which as of September 30, 2018 was sufficient to meet this requirement. The indenture also requires the maintenance of a minimum debt service coverage ratio of 2.50:1.00. 39 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 8 - LONG-TERM LIABILITIES OF GOVERNMENTAL ACTIVITIES (CONTINUED) Series 2010 and 2011 Refunding Revenue Bonds The City previously issued$21,000,000 in Series 1999 Revenue Bonds to finance the acquisition of land, buildings and other improvements related to municipal parks and the City's administrative complex and police station. At September 30, 2014,this bond series was fully defeased. In fiscal year 2010,the City issued Series 2010 Refunding Revenue Bonds to partially advance refund$10,580,000 of the then outstanding Series 1999 Revenue Bonds. In fiscal year 2011, the City issued Series 2011 Refunding Revenue Bonds to advance refund the remaining$5,700,000 of the then outstanding Series 1999 Revenue Bonds. The City refunded the Series 1999 Revenue Bonds to reduce its aggregate debt service payments by approximately $3,166,000. Series 2012 Refunding Revenue Bonds The City previously entered into a bond indenture agreement with the Florida Intergovernmental Finance Commission through an interlocal governmental agreement. As a result, the City issued $12,610,000 in Series 2002 Revenue Bonds to finance the acquisition of land and construction of a charter school as well as the construction of the community recreation center.At September 30, 2014,this bond series was fully defeased. In fiscal year 2012, the City issued $9,885,000 in Series 2012 Refunding Revenue Bonds to advance refund $10,165,000(including a City contribution of approximately$598,000)of the then outstanding Series 2002 Revenue Bonds. The City advance refunded the Series 2002 Revenue Bonds to reduce its total debt service payments by approximately $3,810,000. Series 2018 Refunding Revenue Bonds In fiscal year 2018,the City issued $7,100,000 in Series 2018 Refunding Revenue Bonds for the construction and equipping the charter high school within the City. The annual debt service requirements to maturity for the revenue bonds are approximately as follows: Year Ending September 30, Principal Interest Total 2018 $ 2,120,000 $ 823,773 $ 2,943,773 2019 2,705,000 749,975 3,454,975 2020 1,785,000 647,803 2,432,803 2021 1,845,000 592,810 2,437,810 2022 1,900,000 535,782 2,435,782 2024-2028 9,680,000 1,736,293 11,416,293 2029-2030 3,050,000 650,335 3,700,335 2031-2035 1,530,000 207,368 1,737,368 2036-2038 720,000 26,588 746,588 $ 25,335,000 $ 5,970,725 $ 31,305,725 NOTE 9 - COMMITMENTS AND CONTINGENCIES Litigation Various claims and lawsuits, which arise in the normal course of operations, are pending against the City. It is management's opinion, based on the advice of the City Attorney,that the outcome of these actions will not have a material adverse effect on the financial statements of the City. Management also believes that any possible adverse effect on litigation against the City will be covered by insurance. 40 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 9 - COMMITMENTS AND CONTINGENCIES (CONTINUED) Government Grants Revenue recognized from grants may be subject to audit by the grantor agencies. In the opinion of City management,as a result of such audits,disallowances of grant revenues,if any,would not have a material adverse effect on the City's financial condition. Employment Agreement The City has an employment contract with its City Manager that provides for an annual salary,adjusted for cost-of- living increases and certain benefits. This agreement is effective for an indefinite term subject to termination of the City Manager by the City Commission in accordance with Article III, Section 3.08 of the City Charter. The City Manager must provide six (6) months advance written notice to resign voluntarily. Charter School Agreements The City has a contract with the School Board of Miami-Dade County, Florida, that allows for Aventura City of Excellence School to provide the residents of the City of Aventura an elementary and middle school education choice. The contract was renewed on July 1, 2018 and expires June 30, 2033. The City previously entered into an agreement with Charter School USA, Inc. ("CSUSA")to provide administrative and educational services for the City's charter school. The agreement expired on June 30, 2018 and both parties agreed to a five-year renewal term through June 30, 2023. The renewed agreement provides for an additional renewal term of up to five years upon agreement of both parties and provided the Miami-Dade County School Board extends the charter granted to the City. Other Agreements The City has a three-year nonexclusive agreement with an engineering consulting firm(the"Consultant")to provide building inspections and plan review services.Pursuantto the agreement,the Consultant receives 70%of the gross building permit fee revenues for the first$50,000 in fees in a month and 65% of the amount in excess of$50,000 per month. However, the Consultant receives 35% of the permit fee for all projects owned, paid for and to be operated by the City. The agreement may be renewed for one additional three-year term. Pension Funding Economic developments surrounding the overall market-liquidity,credit availability and market collateral levels may result in declines in the value of the investment securities held by the City of Aventura Police Officers' Retirement Plan.Consequently,the City's required contribution amount to the Plan,which is necessary to maintain the actuarial soundness and to provide the level of assets sufficient to meet participant benefits, could significantly increase in future periods. It is management's opinion that future contributions to the Plan will not have a material adverse effect on the City's financial position. Construction Agreements The City has entered into various agreements in reference to the construction and maintenance of the City streets and other infrastructure projects. At year-end, outstanding construction commitments amounted to approximately $12,272,483. 41 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 9 - COMMITMENTS AND CONTINGENCIES (CONTINUED) Encumbrances As discussed in Note 1(12.)Summary of Significant Accounting Policies,encumbrance accounting is utilized to the extent necessary to assure effective budgetary control and accountability and to facilitate effective cash planning and control.At year end the amount of encumbrances expected to be honored upon performance by the vendor in the next year were as follows: General Fund $ 559,263 Charter High School Construction Fund 1,017,017 $ 1,576,280 NOTE 10 - RISK MANAGEMENT The City is exposed to various risks of loss related to torts, thefts of, damage to and destruction of assets, errors and omissions, employee health, workers' compensation and natural disasters for which the City carries commercial insurance. Settlement amounts have not exceeded insurance coverage for any of the past three (3) fiscal years. In addition,there were no reductions in insurance coverage from those in the prior year. NOTE 11 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (OPEB) The City implemented GASB 75 —Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions during the fiscal year then ended September 30, 2018. Plan Description The City's defined benefit OPEB plan, provides OPEB for all permanent full-time employees, and is a single employer benefit plan administered by the City. Chapter 627 of the Florida Statutes requires that the City make health coverage available to retirees at the employer's group rate. The City provides no funding for any portion of the premiums after retirement. However, the City recognizes that there is an "implicit subsidy" arising because of the blended rate premium since retiree health care costs, on average, are higher than active employee healthcare costs. The plan is not accounted for as a trust fund and an irrevocable trust has not been established to fund this plan. The plan does not issue a separate financial report. It is the City's current policy to fund the plan on a "pay- as-you-go" basis. There are no assets accumulated in a trust that meets the criteria in paragraph 4 of Statement 75. Benefits Provided Employees who retire from the City and their dependents are eligible to continue to participate in the City's health insurance, life insurance, and long-term care benefits currently offered through the City at the "blended"employee group rate, which the City determines on an annual basis. The retiree must continue to meet all participation requirements and pay all applicable premiums by the specified due date. Life insurance and long-term care benefits are portable and the retiree must pay premiums to the carrier directly. The City provides no funding for any portion of the premiums after retirement. As of October 1, 2016,the latest actuarial valuation, health care and dental plan participants consisted of: Active Plan participants 159 Retiree Plan participants 1 160 42 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 11 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS(OPEB)(CONTINUED) Total OPEB Liability The City's total OPEB liability of$716,992 was measured as of September 30, 2017, and was determined by an actuarial valuation as of that date. Methods and Assumptions Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. Projections of benefits for financial reporting purposes are based on numerous assumptions concerning the cost of benefits to be provided in the future, long-term investment returns, and the future demographic experience of the current participants. As of the October 1,2016 actuarial valuation,the following assumptions were made: Discount rate 3.5% per annum;this rate was used to discount all future benefit payments and is based on the return on the S&P Municipal Bond 20-year High Grade Index as of the measurement date. Salary increases 3.00% per annum Cost-of-living increases Retiree contributions, health insurance premiums, and the implied subsidy have been assumed to increase in accordance with the healthcare cost trend rates; dental premiums have been assumed to increase at the rate of 3.00% per year. Healthcare cost trend rates Increases in healthcare costs are assumed to be 8.00%for the 2016/17 fiscal year graded down by 0.50% per year to 5. 00% for the 2022/23 and later fiscal years. Age-related morbidity Healthcare costs are assumed to increase at the rate of 3.50%for each year of age. Implied health subsidy Because the insurance carrier charges the same monthly rate for health insurance regardless of age, an implied monthly subsidy of$525.00 for the retiree and $550.00 for the retiree's spouse has been assumed at age 62 for the 2016/17 fiscal year,at other ages,the implied subsidy was developed based on the age-related morbidity assumption and, for other fiscal years, the implied subsidy was increased in accordance with the healthcare cost trend rates. Dental/vision subsidy No implied subsidy is assumed with respect to dental benefits. Mortality basis Mortality rates were based on sex-distinct rates set forth in the RP-2000 Combined Mortality Table (general employees)or RP-2000 Blue Collar Mortality Table (police officers), both with full generational improvements in mortality using Scale BB. 43 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 11 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS(OPEB)(CONTINUED) Retirement For public safety employees, retirement is assumed to occur at the earlier of age 52 with 25 years of service or at age 55 with 10 years of service; for general employees, retirement is assumed to occur at the earlier of any age with 30 years of service or age 62 with six years of service. Other decrements Assumed employment termination is based on the Scale 155 table; assumed disability is based on the Wyatt 1985 Disability Study (Class 4 rates were used for police officers and Class 1 rates were used for all other employees). Health coverage election Other than eligible department directors, 5% of eligible employees are assumed to elect medical coverage upon retirement or disability, 100% of eligible department directors are assumed to elect medical coverage upon retirement or disability; coverage is assumed to end upon the attainment of age 65. Spouses and dependents Husbands are assumed to be three years older than wives;of those electing coverage, 80%of males and 50% of females are assumed to elect coverage for themselves and their spouses; retirees are not assumed to have any dependent children. COBRA Future healthcare coverage provided solely pursuant to COBRA was not included in the OPEB valuation; because the COBRA premium is determined periodically based on plan experience, the COBRA premium to be paid by the participant is assumed to fully cover the cost of providing healthcare coverage during the relevant period. Changes No assumptions were changed since the prior measurement date. Changes in the Total OPEB Liability Total OPEB Liability Balance at 9/30/2016 $ 667,666 Changes for the year: Service cost 33,459 Interest 23,363 Benefit payments (7,496) Net changes 49,326 Balance at 9/30/2017 $ 716,992 44 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 11 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS(OPEB)(CONTINUED) Sensitivity of the Total OPEB Liability to Changes in the Discount Rate The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower(2.35 percent)or 1-percentage-point higher (4.35 percent)than the current discount rate: 1% Decrease Discount Rate 1% Increase (2.35%) (3.35%) (4.35%) Total OPEB liability $ 786,108 $ 716,992 $ 653,284 Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates The following presents the total OPEB liability of the County, as well as what the County's total OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower(8.5 percent decreasing to 4.5 percent) or 1-percentage-point higher (10.5 percent decreasing to 6.5 percent) than the current healthcare cost trend rates: Healthcare Cost Trend Rates(8.00% Trend Rates graded down Trend Rates Minus 1.00% to 5.00°/x) Plus 1.00% Total OPEB liability $ 630,585 $ 716,992 $ 820,060 OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended September 30, 2018, the City recognized OPEB expense of$49,236. At September 30, 2018, the City reported no deferred outflows of resources and deferred inflows of resources related to OPEB. Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: Year ended September 30 $ - 2019 - 2020 - 2021 - 2022 - Thereafter - 45 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 12 - DEFINED CONTRIBUTION PENSION PLANS The City is a single-employer that contributes to four (4) defined contribution pension plans based on employee classification created in accordance with Internal Revenue Code Section 401(a). The plans currently coverall full- time employees of the City. Under these plans,the City contributes between 7%and an amount equal to the annual IRS maximum depending on employee classifications.City contributions for the City Manager,department directors and assistant department directors vest in the year they are contributed. City contributions to general employees vest beginning after one year of service through year five in 20%increments. Participants are not permitted to make contributions during the year. The City made plan contributions of approximately $812,017 during the year. Plan provisions and contribution requirements may be amended by the City Commission. In addition, the City provides to all full-time employees a deferred compensation plan under Section 457 of the Internal Revenue Code. Under this program, employees may voluntarily elect to defer a portion of their salary to future years; with no required contributions from the City. Both programs are administered by ICMA Retirement Corp.The City does not exercise any control or fiduciary responsibility over the Plans' assets. Therefore, the assets, liabilities and transactions are not included in the City's financial statements. NOTE 13 - DEFINED BENEFIT PENSION PLAN General Information about the Pension Plan Plan Description - The Plan is open solely to active police officers of the City of Aventura. A police officer is any person employed full time in the Police Department of the City,who is certified as a police officer as a condition of employment in accordance with the provisions of Florida Statutes and whose duty is to protect life and property and exercise lawful arrest powers of the State of Florida. The definition includes all supervisory and command personnel whose duties include, in whole or in part, the supervision, training, guidance, and management responsibilities of full-time police officers. All full-time police officers of the City of Aventura, except the Chief of Police, must participate in the pension plan. Board of Trustees: Two City Commission appointees who are City residents,two elected Members of the System, and a fifth member elected by the other four and appointed by Commission (as a ministerial duty). Plan Membership as of October 1, 2018 Inactive Plan members or beneficiaries currently receiving benefits 24 Inactive Plan members entitled to but not yet receiving benefits 2 Active Plan Members 78 Total 104 The financial statements of the Plan are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which the contributions are due. The City's contributions are recognized when due and a formal commitment to provide the contributions has been made. Benefits and refunds are recognized when due and payable in accordance with the terms of the Plan. The general administration, management and investment decisions of the Plan and the responsibility for carrying out its provisions is vested in the five(5)members Board of Trustees.Administrative costs of the Plan are financed through current or prior investment earnings. The City has issued audited stand-alone financial statements for the Plan, which may be obtained from the City's Finance Department. 46 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 13 - DEFINED BENEFIT PENSION PLAN (CONTINUED) Benefits-Normal retirement may be received upon attainment the earlier of age 55 with 10 years of credited service or upon completion of 22.5 years of credited service, regardless of age. For the first 29.091 years of service, the monthly benefit received will be 3.00%of final monthly compensation multiplied by the number of years of service, to a maximum of 80.00%.Years credited beyond 40 will be taken into account at 2.75% of final compensation per year. Early retirement may be received upon the attainment of age 45 with 10 years of credited service.The benefit may be received either on a deferred basis or on an immediate basis. On an immediate basis,the benefit amount will be the normal retirement benefit reduced by 3.00%per year for each year by which the retirement date precedes the normal retirement date. On a deferred basis, the benefit amount will be the same as the normal retirement benefit except that the final compensation and credited service will be based upon the early retirement date. Disability retirement: - Members who become disabled due to service-incurred injuries, which arise out of performance of service with the City,will receive a monthly benefit amount equal to the member's accrued benefit but not less than 42.00% of the member's final monthly compensation as of the date of disability, offset by any other payments, such as worker's compensation. Members who become disabled due to non-service-incurred injuries,which do not arise out of performance with the City, and who have completed at least 10 years of service, will receive a monthly benefit amount equal to 3.00% of final monthly compensation for each year of credited service, but not less than 30.00%. Net Pension Liability The City's net pension liability was measured as of September 30,2017.The total pension liability used to calculate the net pension liability was determined as of that date. Actuarial Assumptions-The total pension liability was determined by an actuarial valuation as of October 1, 2017 (and rolled forward to September 30, 2018) using the following actuarial assumptions: applied to all measurement periods. Inflation 2.30% Salary Increases 5.00% Discount Rate 7.25% Investment Rate of Return 7.25% Mortality Rate: RP-2000 Combined Healthy (current). Disabled female set forward 2 years and disabled male set back 4 years. The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expenses and inflation) are developed for each major asset class. These ranges are combined to produce the long term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the pension plan's target asset allocation as of September 30, 2018 are summarized in the following table: Long Term Expected Asset Class Target Allocation Real Rate of Return Domestic Equity 55% 6.91% Internation Equity 10% 6.36% Fixed Income 20% 2.47% Real Estate 5% 3.36% Hedge Funds 10% 2.87% Total 100% 47 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 13 - DEFINED BENEFIT PENSION PLAN (CONTINUED) Net Pension Liability(Continued) Discount Rate - The discount rate used to measure the total pension liability was 7.50 percent. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that sponsor contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions,the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore,the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. CHANGES IN NET PENSION LIABILITY Increase(Decrease) Total Pension Plan Fiduciary Net Pension Liability a Net Position(b) Liability(a)-(b) Reporting period ending September 30,2017 42,037,747 34,151,399 7,886,348 Changes for the year: Service cost 1,946,501 - 1,946,501 Interest 3,279,516 - 3,279,516 Contributions-employer - 1,497,898 (1,497,898) Contributions-state 338,364 (338,364) Contributions-employee 941,916 (941,916) Net investment income 4,262,504 (4,262,504) Benefit payments,including refunds of employee contributions (514,739) (514,739) - Administrative expenses - (74,636) 74,636 Net change 4,711,278 6,451,307 (1,740,029) Reporting period ending September 30,2018 46,749,025 40,602,706 6,146,319 Sensitivity of the net pension liabilty to changes in the discount rate. Current Discount 1%Decrease Rate 1%Increase 6.50% 7.50% 8.50% City's Net Pension Liability $ 12,755,573 $ 6,146,319 $ 742,743 Pension plan fiduciary net position. Detailed information about the pension plan's fiduciary net position is available in a separately issued Plan financial report. 48 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2018 NOTE 13 - DEFINED BENEFIT PENSION PLAN (CONTINUED) Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources related to Pensions For the year ended September 30, 2018 the Sponsor will recognize a pension expense of $1,802,046. On September 30,2017 the Sponsor reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows Deferred Inflows of Resources of Resources Differences between expected and actual experience $ - $ 1,575,656 Changes of assumptions 1,022,792 - Net difference between projected and actual earnings on pension plan investments - 108,213 Employer and State contributions subsequent to the measurement date 2,024,543 - Actual earnings on pension plan investments $ 3,047,335 $ 1,683,869 The deferred outflow of resources, resulting from the City and State contributions to the Plan subsequent to the measurement date of September 30, 2017 in the amount of$2,024,543 will be recognized as a reduction of the City's net pension liability in the fiscal year ended September 30, 2019. Amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Yearended September 30: 2019 $ 86,742 2020 141,956 2021 (427,745) 2022 (462,030) 2023 - Thereafter - NOTE 14- DEFICITS IN FUND BALANCE At September 30, 2017 the Charter High School Fund had a deficit fund balance of$186,709. The City expects to fund this deficit with transfers from the General Fund in subsequent years. 49 rl` m M OOOI% r.onow 14 REQUIRED SUPPLEMENTARY INFORMATION CITY OF AVENTURA, FLORIDA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL- GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Actual Positive Original Final Amounts (Negative) Revenues: Locally levied taxes $ 26,516,893 $ 26,835,493 $ 27,344,491 $ 508,998 Licenses and permits 3,376,000 5,876,000 7,010,108 1,134,108 Intergovernmental revenues 3,964,870 3,964,870 4,269,338 304,468 Charges for services 2,999,421 3,029,421 3,102,390 72,969 Fines and forfeitures 1,079,000 1,279,000 2,579,456 1,300,456 Grants - - 27,957 27,957 Investments 190,000 190,000 448,264 258,264 Miscellaneous 14,111,907 17,568,788 71,568 (17,497,220) Total revenues 52,238,091 58,743,572 44,853,572 (13,890,000) Expenditures: Current: General government: City commission 146,150 146,150 143,959 2,191 City manager 746,865 891,865 885,567 6,298 Legal 305,000 305,000 261,656 43,344 City clerk 307,197 307,197 293,580 13,617 Finance 1,059,343 1,059,343 1,022,380 36,963 Information technology 1,123,310 1,123,310 1,064,222 59,088 Nondepartmental 1,468,900 2,853,900 2,019,032 834,868 Total general government 5,156,765 6,686,765 5,690,396 996,369 Public safety: Police 19,842,439 19,872,439 19,595,129 277,310 Community development 2,578,041 5,078,041 5,036,699 41,342 Total public safety 22,420,480 24,950,480 24,631,828 318,652 Community services: Community services 2,410,796 2,410,796 2,380,944 29,852 Arts and cultural center 809,899 809,899 797,663 12,236 Total community services 3,220,695 3,220,695 3,178,607 42,088 Public works: Public works 3,033,616 3,198,616 3,184,738 13,878 Total public works 3,033,616 3,198,616 3,184,738 13,878 Capital outlay 16,273,279 12,114,681 8,410,361 3,704,320 Total expenditures 50,104,835 50,171,237 45,095,930 5,075,307 Excess(deficiency)of revenues over expenditures 2,133,256 8,572,335 (242,358) (8,814,693) Other financing sources(uses): Sale of general capital assets 25,000 25,000 26,285 (1,285) Transfers out (2,158,256) (8,597,335) (8,597,335) - Appropriated fund balance - - - - Total other financing sources(uses) (2,133,256) (8,572,335) (8,571,050) (1,285) Net change in fund balance $ - $ - $ (8,813,408) $ (8,813,408) See notes to required supplementary information 50 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL REVENUE FUND STREET MAINTENANCE FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Intergovernmental revenues $ 2,217,000 $ 2,217,000 $ 2,352,697 $ 135,697 Grant revenue - - 143,354 143,354 Impact fees 40,000 40,000 995,674 955,674 Investment income 2,000 2,000 41,476 39,476 Total revenues 2,259,000 2,259,000 3,533,201 1,274,201 Expenditures: Operating 1,542,000 1,542,000 1,549,159 (7,159) Capital outlay 2,495,125 2,784,053 605,204 2,178,849 Total expenditures 4,037,125 4,326,053 2,154,363 2,171,690 Excess(deficiency)of revenues over expenditures (1,778,125) (2,067,053) 1,378,838 3,445,891 Other financing sources(uses): Appropriated fund balance 1,778,125 2,067,053 - (2,067,053) Total other financing sources(uses) 1,778,125 2,067,053 - (2,067,053) Net change in fund balance $ - $ - $ 1,378,838 $ 1,378,838 See notes to required supplementary information 51 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL CAPITAL PROJECTS FUND CHARTER HIGH SCHOOL CONSTRUCTION FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Investment income $ - $ - $ 82,166 $ 82,166 Other revenues - 2,000,000 75,000 1,925,000 Total revenues - 2,000,000 157,166 82,166 Expenditures: General government - 55,500 55,500 - Capital outlay - 15,476,500 2,306,265 13,170,235 Total expenditures - 15,532,000 2,361,765 13,170,235 Excess (deficiency)of revenues over expenditures - (13,532,000) (2,204,599) 13,252,401 Other financing sources (uses): Proceeds from debt - 7,100,000 7,100,000 - Transfers in - 6,432,000 6,432,000 - Total other financing sources (uses) - 13,532,000 13,532,000 - Net change in fund balance $ - $ - $ 11,327,401 $ 13,252,401 See notes to required supplementary information 52 CITY OF AVENTURA, FLORIDA SCHEDULE OF CHANGES IN CITY'S NET PENSION LIABILITY AND RELATED RATIOS LAST 10 FISCAL YEARS Reporting period ending 9/30/2018 9/30/2017 9/30/2016 9/30/2015 Measurement date 9/30/2017 9/30/2016 9/30/2015 9/30/2014 Total pension liability Service cost $ 1,946,501 $ 1,810,699 $ 1,896,180 $ 1,732,252 Interest 3,279,516 2,931,936 2,727,885 2,238,129 Changes of benefit terms - - 2,797,541 - Differences between expected and actual experience - (1,226,574) (1,326,392) - Changes of assumptions - 1,534,188 - - Benefit payments,including refunds of employee contributions (514,739) (588,554) (394,472) (409,084) Net change in total pension liability 4,711,278 4,461,695 5,700,742 3,561,297 Total pension liability-beginning 42,037,747 37,576,052 31,875,310 28,314,013 Total pension liability-ending (a) $ 46,749,025 $ 42,037,747 $ 37,576,052 $ 31,875,310 Plan fiduciary net position Contributions-employer $ 1,497,898 $ 1,302,614 $ 1,550,643 $ 1,548,543 Contributions-state 338,364 342,209 310,354 318,440 Contributions-employee 941,916 863,769 541,792 541,099 Net investment income(loss) 4,262,504 2,158,517 (614,811) 2,199,131 Benefit payments,including refunds of employee contributions (514,739) (588,554) (394,472) (409,085) Administrative expense (74,636) (66,033) (66,115) (55,897) Net change in plan fiduciary net position 6,451,307 4,012,522 1,327,391 4,142,231 Plan fiduciary net position-beginning 34,151,399 30,138,877 28,811,486 24,669,255 Plan fiduciary net position-ending (b) $ 40,602,706 $ 34,151,399 $ 30,138,877 $ 28,811,486 Net pension liability-ending (a)-(b) $ 6,146,319 $ 7,886,348 $ 7,437,175 $ 3,063,824 Plan fiduciary net position as a percentage of the total pension liability 86.85% 81.24% 80.21% 90.39% Covered employee payroll* $ 8,741,677 $ 8,129,475 $ 8,047,155 $ 7,986,695 Net pension liability as a percentage of covered employee payroll 70.31% 97.01% 92.42% 38.36% The covered employee payroll numbers shown are in compliance with GASB 82 See notes to required supplementary information 53 CITY OF AVENTURA, FLORIDA SCHEDULE OF CITY'S CONTRIBUTIONS LAST 10 FISCAL YEARS Fiscal Actual Year Actuarially Contribution Contribution Ending Determined Actual Deficiency Covered as a % of September 30, Contribution Contribution Excess Payroll* Covered Payroll 09/30/2018 $ 1,951,222 $ 2,024,543 $ (73,321) $ 8,878,068 22.80% 09/30/2017 $ 1,826,049 $ 1,836,262 $ (10,213) $ 8,741,677 21.01% 09/30/2016 $ 1,698,166 $ 1,644,823 $ 53,343 $ 8,129,475 20.23% 09/30/2015 $ 1,830,896 $ 1,860,998 $ (30,102) $ 8,047,155 23.13% 09/30/2014 $ 1,828,554 $ 1,866,983 $ (38,429) $ 7,986,695 23.38% *The covered employee payroll numbers shown are in compliance with GASB 82 Notes to Schedule Valuation date 10/1/2016(AIS 11/23/2015) Actuarially determined contribution rates are calculated as of October 1, one year prior to the end of the fiscal year in which contributions are reported. Methods and assumptions used to determine contribution rates: Mortality: Healthy Lives: Female: RP2000 Generational, 100%Annuitant White Collar, Scale BB. Male: RP2000 Generational, 10%Annuitant White Collar/90%Annuitant Blue Disabled Lives: Female: 60% RP2000 Disabled Female set forward two years/40%Annuitant White Collar with no setback, no projection scale. Male: 60% RP2000 Disabled Male setback four years/40%Annuitant White Collar with no setback, no projection scale. It is assumed that 44%of deaths are duty related. The above assumption rates were mandated by Chapter 2015-157, Laws of Florida. This law mandates the use of the assumptions used in either of the two most recent valuations of the Florida Retirement System (FRS). The above rates are those outlined in Milliman's July 1, 2015 FRS valuation report for special risk employees. We feel this assumption sufficiently accommodates future mortality improvements. RP-2000 Combined Healthy (current). Disabled set forward 5 years. Based on a study of over 650 public safety funds,this table reflects a 10% margin for future mortality improvements. 44%are assumed to be in-the line-of-duty. Interest rate: 7.5% per year compounded annually, net of investment related expenses Retirement Age: Earlier of age 57 and 10 years of Credited Service, or upon completion of 25 years of Credited Service, regardless of age.Additionally, any Member who has reached Normal Retirement is assumed to continue employment for one additional year. Early Retirement: Commencing with the earliest Early Retirement Age (45), members are assumed to retire with an immediate subsidized benefit at the rates below: Age Rate 45-49 10.0% 50+ 25.0% See notes to required supplementary information 54 CITY OF AVENTURA, FLORIDA SCHEDULE OF CITY'S CONTRIBUTIONS LAST 10 FISCAL YEARS (CONTINUED) Disability rates: See table below for sample rates.44%are assumed to be in-the-line-of-duty. Termination rates: See table below for sample rates. Salary Increases: 5%per year. Wage Increases(for purpose of projecting Sponsor Normal 3%per year. Cost in between vals) Payroll Increase(for purpose of amortizing UAAL) 0%per year. Funding Method: Entry Age Normal Actuarial Cost Method. Actuarial Asset Method: All assets are valued at market value with an adjustment made to uniformly spread actuarial investment gains and losses(as measured by actual market value investment return against expected market value investment return)over a five-year period. Termination and Disability Rate Table: %Becoming Disabled %Terminating Age During the Year During the Year 20 0.14% 10.30% 30 0.18% 4.15% 40 0.30% 0.99% 50 1.00% 0.48% This schedule is presented to illustrate the requirement to show information for 10 years. However,until a full 10-year trend is compiled, pension plans should present information for those years for which information is available. See notes to required supplementary information 55 CITY OF AVENTURA, FLORIDA SCHEDULE OF CHANGES IN TOTAL LIABILITY AND RELATED RATIOS OTHER POST-EMPLOYMENT BENEFITS 2018 Total OPEB liability Service cost $ 33,459 Interest 23,363 Changes of benefits - Differences between expected and actual experience - Changes of assumptions or other inputs - Benefit payments (7,496) Net change in toal OPEB liability 49,326 Total OPEB liability-beginning 667,666 Total OPEB liability-ending $ 716,992 Covered-employee payroll 21,035,253 Total OPEB liability as a percentage of covered- employee payroll 3% Notes to Schedule: This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year trend is compiled,governments should present information for those years for which information is available. See notes to required supplementary information 56 CITY OF AVENTURA, FLORIDA NOTES TO REQUIRED SUPPLEMENTARY INFORMATION NOTE 1 - BUDGETS AND BUDGETARY ACCOUNTING An annual appropriated budget is adopted for all governmental funds with the exception of the Charter School Fund, Federal Forfeiture Fund and Law Enforcement Trust Fund. All of the funds mentioned in this paragraph are Special Revenue Funds. The City follows these procedures in establishing the budgetary data reflected in the basic financial statements: a. The City Manager submits to the City Commission a proposed operating and capital budget for the ensuing fiscal year. The budget includes proposed expenditures and the means of financing them. b. Public hearings are conducted to obtain taxpayer comments. c. Prior to October 1,the budget is legally enacted through passage of an ordinance. d. Formal budgetary integration is employed as a management control device during the year for the governmental funds described above. e. The City Commission, by ordinance, may make supplemental appropriations for the year up to the amount of revenues in excess of those estimated. The City Commission made several supplemental budgetary appropriations throughout the year including approximately $6.5 million in the General Fund. f. Budgets for the governmental funds are adopted on a basis consistent with generally accepted accounting principles ("GAAP"). g. The City Manager is authorized to transfer part or all of an unencumbered appropriation balance within departments within a fund; however, any revisions that alter the total appropriations of any department or fund must be approved by the City Commission. The classification detail at which expenditures may not legally exceed appropriations is at the department level. h. Encumbrances lapse at fiscal year-end. Encumbrances are re-appropriated in the following year's budget. NOTE 2 -ACTUARIAL ASSUMPTIONS City of Aventura Police Officers' Retirement Plan - Information as of the latest actuarial valuation date as of October 1, 2018 included cost of living of living adjustment of 2.0% per year and a 2.30% annual inflation rate; an annual investment rate of return of 7.25%and projected annual salary increases of 5.00%. Other Post-Employment Benefits - Information as of the latest actuarial valuation date of October 1, 2016 included an annual investment rate of return of 4.0%; the amortization method is level dollar; an amortization period of 12 year-open and an actuarial cost method of projected unit cost. 57 rl` m M OOOI% r.onow 14 COMBINING AND INDIVIDUAL FUND STATEMENTS 0 m m 0 m 000 N )//j \ \»\~ \\\ /[{\ \ a: ! } \\ {j w / / / / \) o) !(fart - - - 222o *u) ° /\ /\\/\{j 0 0 00 0 /\) \ \ \ } \ \\ \ ) , . . . . 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BUDGET AND ACTUAL SPECIAL REVENUE FUND POLICE EDUCATION FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Fines and forfeitures $ 2,836 $ 2,836 $ 5,405 $ 2,569 Investment income 6,000 6,000 86 (5,914) Total revenues 8,836 8,836 5,491 (3,345) Expenditures: Public safety 8,836 8,836 - 8,836 Total expenditures 8,836 8,836 - 8,836 Excess (deficiency)ofrrevenues over expenditures - - 5,491 5,491 Other financing sources (uses): Appropriated fund balance - - - - Total other financing sources (uses) - - - - Net change in fund balance $ - $ - $ 5,491 $ 5,491 60 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL REVENUE FUND 911 FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Intergovernmental $ 95,000 $ 95,000 $ 87,604 $ (7,396) Investment income - - 175 175 Total revenues 95,000 95,000 87,779 (7,221) Expenditures: Public safety 95,000 95,000 94,768 232 Total expenditures 95,000 95,000 94,768 232 Excess (deficiency)of revenues over expenditures - - (6,989) (6,989) Other financing sources (uses): Appropriated fund balance - - - - Total other financing sources (uses) Net change in fund balance $ - $ - $ (6,989) $ (6,989) 61 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL CAPITAL PROJECTS FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Charges for Services $ - $ - $ 325,000 $ 325,000 Impact Fees - - 144,820 144,820 Investment income - - 7,087 7,087 Total revenues - - 476,907 476,907 Expenditures: Capital outlay 193,327 193,327 152,629 40,698 Total expenditures 193,327 193,327 152,629 40,698 Excess(deficiency)of revenues over expenditures (193,327) (193,327) 324,278 517,605 Other financing sources (uses): Transfers out - (232,000) (232,000) - Appropriated fund balance 193,327 425,327 - (425,327) Total other financing sources(uses) 193,327 193,327 (232,000) (425,327) Net change in fund balance $ - $ - $ 92,278 $ 92,278 62 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL DEBT SERVICE FUND SERIES 2010 & 2011 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Investment income $ - $ - $ 741 $ 741 Total revenues - - 741 741 Expenditures: Debt Service: Principal 805,000 805,000 805,000 - Interest 394,552 394,552 394,552 - Total expenditures 1,199,552 1,199,552 1,199,552 - Excess(deficiency)of revenues over expenditures (1,199,552) (1,199,552) (1,198,811) 741 Other financing sources (uses): Transfers in 1,199,552 1,199,552 1,199,552 - Total other financing sources (uses) 1,199,552 1,199,552 1,199,552 - Net change in fund balance $ - $ - $ 741 $ 741 63 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL DEBT SERVICE FUND SERIES 2000 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Investment income $ - $ - $ 26,085 $ 26,085 Total revenues - - 26,085 26,085 Expenditures: Debt Service: Principal 415,000 415,000 415,000 - Interest 91,476 91,476 91,259 217 Total expenditures 506,476 506,476 506,259 217 Excess (deficiency)of revenues over expenditures (506,476) (506,476) (480,174) 26,302 Other financing sources (uses): Transfers in 506,476 506,476 506,476 - Total other financing sources (uses) 506,476 506,476 506,476 - Net change in fund balance $ - $ - $ 26,302 $ 26,302 64 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL 2012A LOAN DEBT SERVICE FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Investment income $ - $ - $ 5 $ 5 Total revenues - - 5 5 Expenditures: Debt Service Principal 283,560 283,560 283,560 - Interest 68,668 77,268 77,247 21 Total expenditures 352,228 360,828 360,807 21 Excess (deficiency)of revenues over expenditures (352,228) (360,828) (360,802) 26 Other financing sources (uses): Transfers in 352,228 360,828 360,828 - Total other financing sources (uses) 352,228 360,828 360,828 - Net change in fund balance $ - $ - $ 26 $ 26 65 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL 2012B LOAN DEBT SERVICE FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Investment income $ - $ - $ 2,058 $ 2,058 Total revenues - - 2,058 2,058 Expenditures: Debt Service Principal 316,440 316,440 316,440 - Interest 76,630 86,330 86,305 25 Total expenditures 393,070 402,770 402,745 25 Excess (deficiency)of revenues over expenditures (393,070) (402,770) (400,687) 2,083 Other financing sources (uses): Transfers in 393,070 402,770 444,000 41,230 Total other financing sources (uses) 393,070 402,770 444,000 41,230 Net change in fund balance $ - $ - $ 43,313 $ 43,313 66 CITY OF AVENTURA, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL 2018 LOAN DEBT SERVICE FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) Revenues: Investment income $ - $ - $ - $ - Total revenues - - - - Expenditures: Debt Service Principal - 110,000 110,000 - Interest - 120,479 120,479 - Total expenditures - 230,479 230,479 - Excess (deficiency)of revenues over expenditures - (230,479) (230,479) - Other financing sources (uses): Transfers in - 230,479 230,479 - Total other financing sources (uses) - 230,479 230,479 - Net change in fund balance $ - $ - $ - $ - 67 rl` m M OOOI% r.onow 14 STATISTICAL SECTION STATISTICAL SECTION This part of the City of Aventura's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City's overall financial health. Contents Paqe Financial Trends 68-74 These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time. Revenue Capacity 75-79 These schedules contain information to help the reader assess the City's most significant local revenue source, the property tax. Debt Capacity 80-83 These schedules contain information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the future. Demographic and Economic Information 84-85 These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place. Operating Information 86-88 These schedules contain service and infrastructure data to help the reader understand how the information in the city's financial report relates to the services the City provides and the activities it performs. Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant years. 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U U U) N N C O O N N C S a) aN) E UC6 N O U) d U) UN U m T C CU s cu m o d� m o n o f 3 m o m'�o)� 6)m a)cu `o mn m 0- 0- m O1as : : a) E 0H oN > u E.s 0) o m EdO E0 � 0) E O N O) o Q o- /l t=N adcu cqU d >0IL0 U) oU OU �U 0-() m o 0 m w a LO V N I-V Cl)O to O 0) 0) V VN O_ In I- 0)r- 0)00(O O 0) d)d) 00 O (O r d) V V V Cl)M N V to (O O V V O r_ to N d)to to r N V N O O 00 (O O(O (O Cl) (O d) r N V V In V Cl)V In N0) O O O I� to 0 (O N o0 r O to Q (O r d) O N (O 00 N (O to to V V ER ER ER ER ER ER ER 00 d) d) 0) Cl)I- to 00 r O 0) ' O O 0) 0) O d) 00 O Cl) 00 0)Cl)0) Cl) VN O M V N O 00 V V V In 00 r M M O M to 00 M M O m to m to r : O 0) 0) O I-N0) (O d) r V In r V V Cl) V (O O (O 0 O N r M (O(3 Cl) (O (O to CO 00 N O d) (O I-- I- Cl) M M M ER ER ER ER ER ER ER O o0 00 V (O Cl) V N Cl)Cl) In ' V V 0) In V _ r-V I- 0)In In N (O r In In N O 0) (O V 00 V 00 O O O Nt (O 00 N In V (O 00 O to M to O to 00 0) Cl)O Cl) I-(O Cl) O N(O O to(O N Cl) to to O 0 V N I� O r M M N N 01 (3) V N N N In r N (O r ER ER ER ER 6% 6% 6% 00 V V O Cl)I- to to V 00 N M In 00 O 0)N O M 00(O Cl)r(O O (O 0)M N 0) (O V V V O (O V(O to r V 01 V N M (O O N O M N 0) I- N V I-(0 N r 0) (0 r co co (O r In r M M r r 0) (O o0 I- r 0) O o0 O M M V N N d) 00 N d) M (O V In _ N I- 01 O I- I- M I-N to O Cl) Cl) N V3 V3 V3 V3 � V3 V3 In N M V In (O r r r- ' r r 00 (O 0) In N N O V Cl)N In O V r o0 to to Cl) to r M V d) to V In r V Q d)00 to (O (O N to r V 00 (0 M 0) I-r M V V Cl) Cl) 00 (O to I�to N d)Cl)00 (O r 00 Cl) 00 00 O to (O 0 O O r d)N r In V V V V N V V N I-N In O O (O (O V3 V3 V3 V3 V3 V3 V3 (7 In d) V V 0)O O Cl)(O(O 00 ' (O (O V co M O Z I�00 (O N 0)0) V N0 Cl) M V M In 00 _ V O In N 00 N r r d) r V V N(O In Z MI-to N O N CO 00 In to r M N N (O (O N Cl) V N I- 00 to N Co to(O 0) (O N tea( 0 U) z 00 00 O to 00 N(O to O O LL w 0 O N N of D I� In N N N N F- O U Q V) ER ER ER ER ER ER z Q ¢ w M O M 0)O In I-(O N(O to ' V V 0) N V (O LU LU () LL 0) 00 00 O(O O N to to N N r (O Cl) 0) Z U) 0 00 N QZ O O -V d) o0 d) d)M N 0)V In VC\l N O r NC\l V VOC) V V V 00 V 00 Cl) O- LL Z LL Z 0 r—M O r_ r O d- " 01 d) � (3) 0U)Lu w Q D N N N r r M V N N U U va 6% » » 6% (» 6% Z Q Q Q D Nd) N O(O In O N r N ' N N V V In O O Cl)Cl) O V 00 00 0) (O (O to o0(O V = J CO-r (O N00 N Cl)V Cl)N (O to to N M N (O U () (O to O V d)V N d)to r N M M (O (o d) to 0 (ON V r(M 00 o0 o0 d)M ((0 ((0 V N r- 0 Q N In In r I-N V (O (O N N N N V3 V3 V3 V3 V3 V3 V3 In 0) (O 00 0)In N to N N ' O O N r 0) (O 0) I- V 0)00 r-O 00 to V N N (O V M 00 r_ d) 00 00 00 00 (3i 00 M 01 M M N N M O d)V V Cl)N(O 00 O_O co Cl) Cl) r- V 00 N In r 00 In(O 00 Cl) N r r r I� 0) 0 r to N M(O 00 M V o0 00 N N N N M I-Cl) Cl) 00 00 (O (O N N N N V3 V3 V3 V3 V3 V3 V3 OIn Cl)r 00 O In ' r r N Cl)00 N N O O r-r to o0 00 N 0) (O (O (O r 00 (O d)r N O 00 r to V 01 In to to O N M M I� (O 0) V r-to N 00 00 N N to O to O V In 00 00 to V r- 0)Cl) O (O(O N O (O N M V(O to N V (O (O d)N N N � In r M M O O 00 0) V3 V3 V3 V3 V3 V3 V3 a) N s= o a o o CL x U > N os o a os o a) E0 > o '— os o m o m E p.� o >� o m > o � oHro wow m' opo mQ m > QF, 0 � > Q o °a ° m o m >� .� o w o 0 >° o oa w o — E w — E o w H > E > o a' os CL � �0 E E 2 � a) a) a) a) E x >'N os C7 'N a>>'N �(7mL(7m Z (7 U CITY OF AVENTURA GOVERNMENTAL ACTIVITIES TAX REVENUES BY SOURCE LAST TEN FISCAL YEARS (ACCRUAL BASIS OF ACCOUNTING) Tax Fiscal Roll Ad Valorem Utility Franchise Year Year Taxes Taxes Fees Total 2009 2008 $ 15,189,005 $ 7,451,903 $ 3,644,177 $ 26,285,085 2010 2009 13,253,848 7,362,899 3,686,885 24,303,632 2011 2010 11,734,232 7,379,830 2,684,216 21,798,278 2012 2011 11,724,189 7,772,000 3,070,065 22,566,254 2013 2012 12,080,224 7,551,899 2,823,490 22,455,613 2014 2013 12,791,444 7,933,535 2,289,721 23,014,700 2015 2014 13,977,630 7,872,483 2,294,667 24,144,780 2016 2015 15,008,844 7,720,496 2,364,853 25,094,193 2017 2016 16,349,089 7,655,803 1,979,437 25,984,329 2018 2017 16,747,025 8,052,694 2,544,772 27,344,491 71 M � N fA fA fA fA fA - fA CO CO N I� N CO r N CO OI V M O) O O N M CSO N N CO M M V I� z V3 � fA fA (p c N M V CO V I� COO V O N O)�o O) co Q V OI M M O m z Z N N M m M N CO Q D z V3 fA fA (p J D -O Q O O m v o Z C U m OwQa OI ���� � LL z} LL N O) V m N N Q crLU J 0 A A A 6 D > U (n V M N O) p 0 Co Q Z U` LL m W LL z J O M r r 0 CMO M N V O Q O W < 0 N O) V m N N V LL W U n » » » m O U co U � a < a U m OI z O fA fA fA (p LL N A A A A O OI O) M M O N fA fA fA fA �' (6 U Ul - O N O N Ul � E p L 0 C N O U C m w Im o O C N O N N CO N -O'U 2—:o O �' �d N mo LL (6 � LL O w N N O) m N .0 .� N O N O.E UI N Q Q.L O (6 N o w m UI w N O a N (6 UI m~ O N O O �/1 C N U)D U O N w w ly�Z U Q Z Z Q o 0 Q Z InV N w w 00 N V M O r to (O r 0) O ' N O M O O In to O r o N m I-O I- m m 00 N w to r O 0)00 O V (0 r O(0 Cl)Cl) (0 00 r O(0 r r r(0 N d) M M to N 00 N O 00 r O to M M to r (0 00 I-N V O O M Cl)O O V 00 0)N M Cl)O O 0) 0) O O 00 Cl)Cl) 00 I- V V In V O In V In N M In 0)co In co (0 (0 V O N I�r N o0 E; 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U r,s= >.— Q w U� 52 W U o O NU)H H a Q 0 (OM 0 0 M M 00 � V 1- O (hON V � O (O 00 N O (I � G) - - N (h (O (O (h (h d) (h (fl 00 d) 00 O lr lr (O (I (fl 00 (h 00 (OLf) � N V 000 (h M 00 V V V V V V V l!7 l!7 l!7 ER N00 0 V 00000 00 (0 O r- (1) (14 00 V (14 O N N � NIS N I!) 00 4) 4) C N l!) V (h In V (O V V OWN Lf) 4) V 1- (h (O � = V V (h N (,) V (h (h Nl!) 0) U N ER _ 0 L N d) rV 1- 1- (1) 00 00 00 V Lf) V (O 1- (h 00 00 (h - (O d) E EIN O I!) V LO0) N 01- 0 d) d) � (0 00 00 (O ) tl) UV l! N (h � � Nm (O 0) C N (O (0 LO N1- 'IT 00000 OI- N0) 0) l!) - l!) l!) V O 1- O V V N NN 0000 (0 LN V V C 0)I V N LL w 69 0 N 000 (DNlnN V 00 l!) N001 1- 1- V � N0N0) Z to O 00� (fl N to (fl N (h (O (O N -O .� I� 000 0000000 z E O z N (h ON N N N N O N N Q m 0LL 0 w U) U V3 0 QQ O d) (1) l� (1) 0000 d) � � J Z w w � 1� (Ovc4rnLr Lr LLw � 0 2 2 NW � (�OV � 0 ((O LU O m o � (h (h (3 - - - W (11 Q (n U (nNNNN (h (h (h V V V z F- LL m I- Lf) d) I- 00 - V N00 > Z CU Z Q CLO 00 V � N a00 � 0000r- cwc w ' V (h (O (O V l!) r- N (O O G LL Z C O d) V V (h � 4) V ON 0 w � U > M l L2_ > Q 6c3 V O 0000 V I- � � 00 00 N (O 01- 4) V 4100 J LL N to 0 V (O N O Lf) 00 1- � I- r- OI- 00 00) 000 0 � (h (0N (0 (') (h (hl!) r- 0 O V l!) l!) N 0 V 0 O LLJ c O_ Oa � NNNN (1) (h l!) V 1- Z W 69 U 1- In0 0N1- (1) I- N N 001n (h 0) N (0 In Chr- N 00 (, (h V [- (fl d) V 1- tl) V00r- m0) VV0) V U 0) V 00 LO N00 d) [- [- V 01 (0 (0 d) (h 00 N N (h 4) V (6 LLImm Nm NNNN - N LL V3 NOO (h ( V I- ON410o 0 0 O I- - 0 V "* 00 (C N � 00 Lf) (O (O V NO0N N V V V V 00 00 00 (fl O 69 0 00 N 0 V V O V 0 N E O V m00N V m1- 00N O 000 N - N V (00000 to d) 0 V N001- 00 d) � O 0) 00 l!) (`7 000 d) I- O V V (6 x � NI� 1� O � 00 (h 1� > � Lf) C\ 1 NN (h l!7 (O (O Q V3 l!7 (2 00 U O 0 } 0000000000 O O O O O O O O O O O M a0 O a0 N O N N I- O LO LO M V O O qmMCDMMmN �; NLO N cUt0000O0000000000 00 N U Q Q ; CITY OF AVENTURA, FLORIDA PROPERTY TAX RATES DIRECT AND OVERLAPPING GOVERNMENTS (PER$ 1,000 OF TAXABLE VALUE) LAST TEN FISCAL YEARS Overlapping Rates City of Aventura School District Regional South Florida Tax Debt Total Debt Total Water Fiscal Roll Operating Service City Operating Service School Management Everglades Okeechobee Year Year Millage Millage Millage Millage Millage Millage District Project Basin 2009 2008 1.7261 0.0000 1.7261 7.5330 0.2640 7.7970 0.5346 0.0894 0.0000 2010 2009 1.7261 0.0000 1.7261 7.6980 0.2970 7.9950 0.5346 0.0894 0.0000 2011 2010 1.7261 0.0000 1.7261 7.8640 0.3850 8.2490 0.5346 0.0894 0.0000 2012 2011 1.7261 0.0000 1.7261 7.7650 0.2400 8.0050 0.3739 0.0624 0.0000 2013 2012 1.7261 0.0000 1.7261 7.7650 0.2330 7.9980 0.3676 0.0613 0.0000 2014 2013 1.7261 0.0000 1.7261 7.6440 0.3330 7.9770 0.3523 0.0587 0.0000 2015 2014 1.7261 0.0000 1.7261 7.7750 0.1990 7.9740 0.1577 0.0548 0.1717 2016 2015 1.7261 0.0000 1.7261 7.4130 0.1990 7.6120 0.1459 0.0506 0.1586 2017 2016 1.7261 0.0000 1.7261 7.1380 0.1840 7.3220 0.1359 0.0471 0.1477 2018 2017 1.7261 0.0000 1.7261 6.7740 0.2200 6.9940 0.1275 0.0441 0.1384 Source:Miami-Dade County Appraiser's Office. 76 Overlapping Rates Regional Miami-Dade County Other Total Florida Direct Inland Total Debt Fire Total and Navigational Regional Operating Service and Fire County Children's Overlapping District Millaae Millaae Millaae Rescue Debt Library Millaae Trust Rates 0.0345 0.6585 4.8379 0.2850 2.1851 0.0420 0.3822 7.7322 0.4212 18.3350 0.0345 0.6585 4.8379 0.2850 2.1851 0.0420 0.3822 7.7322 0.5000 18.6118 0.0345 0.6585 5.4275 0.4450 2.5753 0.0200 0.2840 8.7518 0.5000 19.8854 0.0345 0.4708 4.8050 0.2850 2.4496 0.0131 0.1795 7.7322 0.5000 18.4341 0.0345 0.4634 4.7035 0.2850 2.4496 0.0131 0.1725 7.6237 0.5000 18.3112 0.0345 0.4455 4.7035 0.4220 2.4496 0.0127 0.1725 7.7603 0.5000 18.4089 0.0345 0.4187 4.6669 0.4500 2.4207 0.0114 0.2840 7.8330 0.5000 18.4518 0.0320 0.3871 4.6669 0.4500 2.4207 0.0086 0.2840 7.8302 0.5000 18.0554 0.0320 0.3627 4.6669 0.4000 2.4207 0.0075 0.2840 7.7791 0.5000 17.6899 0.0320 0.3420 4.6669 0.4000 2.4207 0.0075 0.2840 7.7791 0.4673 17.3085 77 O U N o 0 0 0 0 0 0 0 0 0 N D N o 0 0 0 0 0 0 0 0 0 I— vLO LOQQQrn rn � � � N Nvvzmm o (oz ZZ - 0 mLO 0) a_ 0000 O o0 a) p Y O O N W) V I� M CO (o O O (0 O Q' N N r— ' 00 C) C) O ' ' ' 0 0 0 00 V Cl) 00 O O O O O O 00 M O 0 0 O O O O LO _ 00 Lo _ U U U O O O Cl) 00 O W) O W) 00 N0) 2 O "- V cr Na) m Lo M N 00 W) 00 V LO 0) > N co 00 00 M M (O LO LO V ) CO O (0 (0 U N LL N O a) 0 0 0 0 0 0 0 0 0 0 N N U 0 0 0 0 0 0 0 0 0 0 0 C N N a0 M N O a0 O co [- co Q Q Q Q U N N ; OO V OO 1— M l(') W) V V V Z Z Z Z H Q V 0 0 0 0 0 0 O O `O V Q 00 Y Q W O N M V l(') (O I— a0 O Q < N O d W MN V 000 (O OO a0 J X l(7 ISM 00001- mO 00 LO O OO I� O O I� lf) OO O M W W a) _0L O V O Lo O I- M O O M Z N � M l(') V a0 N O N a0 V O O _ O O lf) 00 O M ZX (1) FoM V NOO O00 r— (1) O WQ m ) > � v001- (0LO V vv O co WOQ > Q� Q� Q d Q LL Q � H U Z VZry LL M.d � . 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O` I- I- o m"�� d m o o oU j m'E O)CO `O Q O N t/1 00 O) T�o o T NNS CJ mm >C) ° ( D- 69 e» ^ 0 o N z N N � U U � - _ N Q C Q O 6 (6 Q E ) w E N N E Y -oc'E Q E _ _ N N o m N 0 F J -F; O CITY OF AVENTURA, FLORIDA DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN FISCAL YEARS Personal Income Per Capita (Amounts Personal Unemployment Fiscal Population Expressed in Income Rate Year (1) Thousands) 2009 31,126 $ 1,143,881 $ 36,750 7.3% 2010 31,181 1,211,881 38,866 9.2% 2011 35,723 1,410,523 39,485 8.1% 2012 37,239 1,508,701 40,514 6.6% 2013 37,725 1,516,696 40,204 6.1% 2014 37,262 1,560,644 41,883 5.4% 2015 37,473 5.6% 2016 37,611 5.3% 2017 37,694 4.7% 2018 37,694 4.1% Data sources: (1) Years are as of April 1 of each year per the University of Florida Bureau of Economic and Business Research. (2) Represents income per capita for Miami-Dade County as provided by the U.S. Department of Commerce, Bureau of Economic Analysis. (3) Florida Department of Labor, Bureau of Labor Market Information. Information not available. 84 CITY OF AVENTURA, FLORIDA OCCUPATIONAL EMPLOYMENT BY GROUP- MIAMI-DADE COUNTY, FLORIDA CURRENT YEAR AND NINE YEARS AGO Fiscal Year 2018 2009 Percentage Percentage of Total of Total Occupational Groups SOC Code Employees Rank Employment Employees Rank Employment Office and administrative support 43-0000 207,880 1 18.25% 217,530 1 21.16% Sales and related 41-0000 146,260 2 12.84% 136,390 2 13.27% Food preparation and serving related 35-0000 109,320 3 9.60% 79,700 3 7.75% Transportation and material moving 53-0000 96,620 4 8.48% 71,300 4 6.94% Healthcare practitioners and technical 29-0000 68,800 5 6.04% 54,120 6 5.27% Business and financial operations 13-0000 61,230 6 5.38% 56,250 5 5.47% Education,training and library 25-0000 56,820 7 4.99% 53,690 7 5.22% Management 11-0000 47,300 8 4.15% 30,670 13 2.98% Installation,maintenance and repair 49-0000 43,820 9 3.85% 40,410 9 3.93% Protective service 33-0000 41,720 10 3.66% 36,990 12 3.60% Production 51-0000 41,270 11 3.62% 41,560 8 4.04% Building and grounds cleaning and 0.00% maintenance 37-0000 40,180 12 3.53% 37,350 11 3.63% Construction and extraction 47-0000 35,930 13 3.15% 39,650 10 3.86% Healthcare support 31-0000 31,160 14 2.74% 26,580 15 2.59% Personal care and service 39-0000 26,490 15 2.33% 28,490 14 2.77% Computer and mathematical 15-0000 20,660 16 1.81% 17,060 16 1.66% Legal 23-0000 17,690 17 1.55% 12,170 18 1.18% Arts,design,entertainment,sports and media 27-0000 16,560 18 1.45% 16,250 17 1.58% Community and social service 21-0000 12,860 19 1.13% 12,120 19 1.18% Architecture and engineering 17-0000 10,610 20 0.93% 11,600 20 1.13% Life,physical and social science 19-0000 3,830 21 0.34% 5,530 21 0.54% Farming,fishing and forestry 45-0000 2,090 22 0.18% 2,510 22 0.24% Total 1,139,100 100.00% 1,027,920 100.00% Source: Represents Metropolitan and Nonmetropolitan Area Occupational Employment for the entire Miami-Miami Beach-Kendall, Florida Metropolitan Division as provided by the U.S. Department of Labor, Bureau of Labor Statistics as of May 2016. Estimates do not include self-employed workers. 85 001 Nco co CD 00 00 'oN �I N CON O O O 00 I� CD N CO (O N z O N co 0 000 CO ' O C) U U � z N co co V ' a0 Lo U) DN CO CO (OCD � m N � V I N co i-- V ' 00 V E U) N 00 CO (O U W N Q 0 0o co 0o v ao D d A m CO E o a o JHW NI rn co00v ao N U LL z >- CO CO (o > U) J N � z a � _ 00 CO00 W > N m Ow a O H CN:) O co I-- (c) ao T o LL H _ N 00 CO (O O ~ O N � Ug a� O1-- m m U z o 00 CO (o (O J NI EN a � - D G o W U 0 W u) 0 Z) -2 _ o U } J > n J c a) 0- 0- o c U 7 E N Cl) U U) Y - E U E Z U EE EE U U 0- U LL V (9 � LC) V N O (9 (A V — (9 00 O coN � Oco V CO C7 ; O NI-- LOC4 (b (h ('7 N1– OO (h N1– C:)-co 00 C:)- p N = O N (9 V N (9 O N (h O co N CO (A 00 N O 1— O 00 CO [- N O (A (h V 00 V (9 (9 LO LO (h (A 00 CO N O N CO 00 N = LC) N = V O LC) LC) O p N =C LrN V N cr V N (h 1– C'4 (9 O (9 OO O0 OLC) OLO NLOCOO N (9 (3) = 00 LO LOON C7 (ANN (D LC) LC) (9 (9O (3) O = (9 = 00 NO p N =(A LrN V N N =L6 V N (h 1– C'4 CO LC) LC) (9 V N 00 (9 V O 00 N O 1– O (3) V LO co IT C) O V 00 C4 LC) N r- (A N (b (h LC) = LC) (9 O O p N = LO = (9N L6 N NO N (h 1— C'4 O I-- O 00 N V V 00 (A (h LC) LO (h 00 x ('700OO (h V (h (h O0 N V O V N O (C V (C = N V M O O p N =00 =00 N LC) O N 0 Z N N m N _O (h LC) O 1— co (9 V 1— C4 00 00 (9 (9 �+ Q U LC) = V V N V V LC) 00 = 00 00 1— O (6 O Z c7 O 0 00 = O = 0 = 1— O 00 (A p U) p N N (9 = N C\[N LO; 00N q O Q N N J >- uJ 5 LL CO 00 00 1– O (9 N LC) (h LC) O C) V I-- L � Cn J (A LC) O N 1– C) - (D V(9 CO 00 L00 to Q N NNI– = C4 (90 = LOQ (3) O6 O c) N N N00NN V N NN (�0 (b Z U li W Z O I-- V (9 O I– LC) (h (h (9 N (A LC) N Q LLJ O co00 1— (h (9 O Lo 1– V V N 1 Q Z V = ; 00 V V V (A = I– N 00 CO (A (B L — c N N O N O V � N N C O z U) N N � F- _ (') C) V LC) (A 00 O coC7 V 00 CO co N V Of O O O CO (9 00 ('7 (9 = 00 N C4 CO to N (b CO (b 0 (b N O N O N LU p N N O C7 a N N (7 N V N N � O o X N1— (90 (0 1-- LC) N1— N00 � O N O 00 N (h (9 N (9 LC) O to O (h (h O (o (9 O C7 O (b O N O Oj O N N O C7 N (9 N C7 0 7 N N (h N O U N O O O Oj N (6 (6 N _ (6 � N C N .0 O (6 C N U) to L -0 to 0 C U n _Q fn i N N C (� E O O a--� U -0 0 C N U O to E O C (6 N E L O ` C O N O O O .O .> X O W N � C to C U U `� U C (6 N + U) C O � E O O O O _0O O Q O O ' O Q UT O O N U C O i U O U aO) O � aO) aO) C 7 N Cl) _ O N c U Y n -0 > E U m '- - 0- QH � 0 < 0cocoC) oof (oCl) U U U LL N I— O N M M I— O O ' O co 00 00 N O C6 O (h N N I— O N CO CO I— O O ' O co 00 I— N O) C6 O (h N N (DON CO CO V O LOQ LO N 00 (O O 00 C6 O (h N N (D O N CO CO O O LO ' LO O 00 LO O 00 C6 O (h N N (D O N CO CO O O LO ' LO O 00 z V6 00 C7 O o co N U az 0 =) N OON CO CO NV C LO ' O Q 0 co J CO W N LL C/) U N O O N CO CO N LO C 0 L() ' 000 Z Q � N Oco m LL O LZ N Q P LL W N COON CONC4 O O L ' LO = 00 _0 C O � C6 a `" o N g U J � H a N OO N CONN O L(7 ' O Q O 0 C6 a) N U 0 (h 0 E N 0 N m m N (OON CONN O LO ' N O) LO U O O C6 m O (h O + — N O > U m Q N O O C � i O C a) m ( O C O a) O a) N a) (6 E O) C: U C p n m O O Q 0 am) a") g _ a) 00 m U -6 n C m m -p N m 00 7 O O O -0m � N O U) C O rn U U 0 0 U) C0m O aC m� j On oU)( Uo 0 a) . m 0 pavi E c-)i E o Z) m o a) O Fnm pZ C) o m0- 0- m co � CU � Z 0-( o D a_ LL a U H LL rl` m M OOOI% r.onow 14 COMPLIANCE SECTION CABALLERO HERMAN LLERENA GARCIA LLP HIM accountants I advisors INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Honorable Mayor and Members of the City Commission City of Aventura, Florida We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of City of Aventura, Florida (the "City"), as of and for the fiscal year ended September 30, 2018, and the related notes to the financial statements, which collectively comprise the City's basic financial statements, and have issued our report thereon dated March 5, 2019. Our report includes a reference to other auditors who audited the City of Aventura Police Officers' Retirement Plan Trust Fund, as described in our report on the City's financial statements. This report does not include the results of the other auditors' testing of internal control over financial reporting or compliance and other matters that are reported on separately by those other auditors. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the City's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we do not express an opinion on the effectiveness of the City's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the City's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. Compliance and Other Matters As part of obtaining reasonable assurance about whether the City's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. 89 4649 Ponce de Leon Blvd I Suite 4041 Coral Gables,FL 33146 T.305.662.7272 F:305.662.4266 1 CFLGCPA.COM Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. caxalle-O «ewewa & �'awc�a, LLQ' Caballero Fierman Llerena &Garcia, LLP Coral Gables, Florida March 5, 2019 90 4649 Ponce de Leon Blvd I Suite 4041 Coral Gables,FL 33146 T.305.662.7272 F:305.662.4266 1 CFLGCPA.COM CABALLERO HERMAN LLERENA GARCIA LLP HIM accountants I advisors MANAGEMENT LETTER IN ACCORDANCE WITH THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA Honorable Mayor and Members of the City Commission City of Aventura, Florida Report on the Financial Statements We have audited the basic financial statements of City of Aventura, Florida (the "City"), as of and for the fiscal year ended September 30, 2018, and have issued our report thereon dated March 5, 2019. Auditors' Responsibility We conducted our audit in accordance with auditing standards generally accepted in the United States of America;the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States and Chapter 10.550, Rules of the Florida Auditor General. Other Reporting Requirements We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards and Independent Accountant's Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated March 5, 2019, should be considered in conjunction with this management letter. Prior Audit Findings Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding financial audit report. There were no findings or recommendations made in the preceding financial audit report. Official Title and Legal Authority Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements.This information is disclosed in the notes to the financial statements, Note 1. Financial Condition and Management Sections 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not the City has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific condition(s) met. In connection with our audit,we determined that the City did not meet any of the conditions described in Section 218.503(1), Florida Statutes. Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for the City. It is management's responsibility to monitor the City's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. This assessment has been performed as of the fiscal year end. Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. 91 4649 Ponce de Leon Blvd I Suite 4041 Coral Gables,FL 33146 T.305.662.7272 F:305.662.4266 1 CFLGCPA.COM Purpose of this Letter Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives,the Florida Auditor General, Federal and other granting agencies, City Commission and applicable management, and is not intended to be and should not be and should not be used by anyone other than these specified parties. caxalle-o «e-ewa & �'awc�a, LLQ' Caballero Fierman Llerena &Garcia, LLP Coral Gables, Florida March 5, 2019 92 4649 Ponce de Leon Blvd I Suite 4041 Coral Gables,FL 33146 T.305.662.7272 F:305.662.4266 1 CFLGCPA.COM CABALLERO HERMAN LLERENA GARCIA LLP HIM accountants I advisors INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE PURSUANT TO SECTION 218.415 FLORIDA STATUTES Honorable Mayor and Members of the City Commission City of Aventura, Florida We have examined the City of Aventura, Florida, (the "City") compliance with the requirements of Section 218.415 Florida Statutes during the period of October 1, 2017 to September 30, 2018. Management of the City is responsible for the City's compliance with the specified requirements. Our responsibility is to express an opinion on the City's compliance with the specified requirements based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the City complied, in all material respects,with the specified requirements referenced above. An examination involves performing procedures to obtain evidence about whether the City complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the City's compliance with specified requirements. In our opinion, the City complied, in all material respects, with the requirements of Section 218.415 Florida Statutes during the period of October 1, 2017 to September 30, 2018. This report is intended solely for the information and use of management, members of the City Commission, others within the City and the Auditor General of the State of Florida and is not intended to be and should not be used by anyone other than these specified parties. caxalle-o «ewewa & awc�a, LLQ' Caballero Fierman Llerena &Garcia, LLP Coral Gables, Florida March 5, 2019 93 4649 Ponce de Leon Blvd I Suite 4041 Coral Gables,FL 33146 T.305.662.7272 F:305.662.4266 1 CFLGCPA.COM �e all FL4 �OVU 19200 West Country Club Drive Aventura, Florida 33180 Phone: 305-466-8920 Fax: 305-466-8939 cityofaventura.com CITY OF AVENTURA DEPARTMENT OF PUBLIC WORKS AND TRANSPORTATION MEMORANDUM TO: City Commission FROM: Ronald J. Wasson, City Manager BY: Antonio F. Tomei, Capital Projects Manager 4,,, ' THRU: Joseph S. Kroll, Public Works & Transportation Direct Jr / 0 DATE: March 5, 2019 ����/ SUBJECT: Don Soffer Aventura High School March 12, 2019 City Commission Meeting Agenda Item 5 F Recommendation It is recommended that the City Commission adopt the attached Resolution allowing dedication of a ten (10) foot wide Easement to Florida Power and Light as required for the Don Soffer Aventura High School. Background Florida Power and Light requires an Easement to install, operate and maintain electrical services for the Don Soffer Aventura High School project as outlined on the enclosed sketch and legal description. If you have any questions or need any additional information, please feel free to contact me. RESOLUTION NO. 2019- A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA DEDICATING A TEN (10) FOOT WIDE EASEMENT TO FLORIDA POWER AND LIGHT ON THE DON SOFFER AVENTURA HIGH SCHOOL SITE; PROVIDING FOR RECORDATION; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Aventura requires electrical service to the new Don Soffer Aventura High School located at 3151 NE 213th Street; and WHEREAS, Florida Power and Light requires a recorded easement prior to providing electrical service to the new Don Soffer Aventura High School; and WHEREAS, Florida Power and Light requires a recorded easement to operate and maintain said electrical services; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, THAT: Section 1. That the Easement dedication, as reflected on the attached FPL Underground Easement form, inclusive of the Sketch and Legal Description, is hereby accepted and the City Manager is hereby authorized to cause such Easement to be recorded in the Official Records of Miami-Dade County, Florida, subject to confirmation by the City Attorney as to the legal form and sufficiency of the Dedication and instrument of conveyance. Section 2. The City Manager is authorized to take all action necessary to implement the purposes of this Resolution. Section 3. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution was offered by Commissioner , who moved its adoption. The motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks _ Mayor Enid Weisman City of Aventura Resolution No.2019-_ PASSED AND ADOPTED this 12th day of March, 2019, ENID WEISMAN, MAYOR ATTEST: ELLISA HORVATH, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY Work Request No. UNDERGROUND EASEMENT Sec.34,Twp 51 5, Rge 42 E (BUSINESS) This Instrument Preper By Parcel LD. Name: Antonio F.Tomei (Maintained by County Appraiser) Co.Name: Gib of meadia Address: 19200 W.County Club bt Aventure.FL 33180 The undersigned, in consideration of the payment of$1.00 and other good and valuable consideration, the adequacy and receipt of which is hereby acknowledged, grant and give to Florida Power&Light Company, its affiliates, licensees, agents, successors, and assigns ('FPL"), a non-exclusive easement forever for the construction, operation and maintenance of underground electric utility facilities (including cables, conduits, appurtenant equipment, and appurtenant above-ground equipment) to be installed from time to time;with the right to reconstruct improve, add to,enlarge, change the voltage as well as the sae of,and remove such facilities or any of them within an easement described as follows: See Exhibit"A"('.Easement Area") Together with the right to permit any other person, firm, or corporationtoattach or place wires to or within any ofacilities hereunderhtofand aay nd cable thetEase withinthe Awa atmall ttimmes;andhngtp ht to operate same he I nd for kerne nAtcleaarred of all trees undt g ingress andright weak, and other obstructionstrees withinu Easement Area; him and cut and keep trimmed and cut all dead, weak-leaning or dangerousunnor limbs outside of distribution;Easement n; Area, which might interfere with extent fall upon se lines s thesyspmsow or communications iations or powerhereinabove transmission or granted otiand Easement further rms, to the fullestunder the undersigned the o has the power to grant, if at all, the rhaidseent Are on the Easement Area, over, along, antler and across the roads, streets or highways adjoining or through said Easement Area. IN WITNESS WHEREOF,the undersigned has signed and sealed this instrument on ,20_ Signed,sealed and delivered in the presence of Cilv ofyp%/�''tra//J7 (Wmess signature) Print Name: �Z (Witness) Prim Name: 9f^""At.d y/. r-I�/,/S�,Ss✓ Print Address:/72 vie � /oin✓//.:�5c-ci Bi!$ witness'Signature) 722✓L4.)NK,/ , Ti, 33'I& ' Print Name: Witness) STATE OF AND COUNTY OF . The foregoing instrument was acknowledged before me this day of 20_, by the of a who is personally known to me or has produced as identification, and who did (did not) take an oath. (Type of kbntifireton) My Commission Expires: Notary Public,Signature Print Name DATE: 02-12-2019 UTILITY EASEMENT SKETCH and LEGAL DESCRIPTION FLORIDA POWER & LIGHT EASEMENT SECTION 34, TOWNSHIP 51 S, RANGE 42 E • 10'FP4L EASEMENT LEGAL DESCRIPTION: A STRIP OF LAND 10 FOOT WIDE LYING WITHIN A PORTION OF SECTION 34 OF TOWNSHIP 51 SOUTH, RANGE 42 EAST OF"DONN ACRES" OF THE PLAT THEREOF,AS RECORDED IN PLAT BOOK 76, PAGE 30 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY,FLORIDA BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT NORTHEAST CORNER OF SECTION 34,TOWNSHIP 5 15, RANGE 42E,also the NORTHEAST CORNER OF'TRACT 8"OF"DONN ACRES'PLAT NO. 2"OF THE PLAT THEREOF,AS RECORDED IN PLAT BOOK 76, PAGE 30 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA;THENCE 501°59'03"E FOR A DISTANCE OF 659.14 FEET ALONG THE WEST BOUNDARY UNE OF SECTION 34, TOWNSHIP 51 S, RANGE 42E,ALSO BEING THE WEST BOUNDARY LINE OF'TRACT B"OF SAID PLAT BOOK 76, PAGE 30,AND PLAT BOOK 153,PAGE 8 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA;THENCE S88°26'03'W ALONG THE NORTH RIGHT-OF-WAY LINE OF NORTHEAST 2 13th STREET FOR A DISTANCE OF 846.6 I FEET TO THE POINT OF BEGINNING OF THE CENTERLINE OF THE FOLLOWING DESCRIBED 10 FOOT EASEMENT LYING 5.00 FEET ON EACH SIDE AND CONTIGUOUS WITH THE FOLLOWING DESCRIBED CENTERLINE; THENCE N05°20'15'W FOR A DISTANCE OF 19.56 FEET;THENCE N46°30'50W FOR A DISTANCE OF 28.53 FEET;THENCE N53°48'52'W FOR A DISTANCE OF 31.78 FEET;THENCE N56°05'25"W FOR A DISTANCE OF 62.36 FEET;THENCE N58°24'16"W FOR A DISTANCE OF 133.83 FEET TO A POINT"A";THENCE 501°582 I"E FOR A DISTANCE OF 2 I.81 FEET;THENCE 556°01'18'W FOR A DISTANCE OF 63.25 FEET;THENCE 501°51'36T FOR A DISTANCE OF 114.7I FEET;TO A POINT OF TERMINATION;THENCE FROM SAID POINT"A", NO I°58'21'W FOR A DISTANCE OF 204.99 FEET;THENCE N86°0020'E FOR A DISTANCE OF 89.24 FEET TO THE BEGINNING OF CURVE CONCAVE SOUTHEASTERLY AND HAVING A RADIUS OF 58.95 FEET;THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 55°42'02"AN ARC DISTANCE OF 57.31 FEET;THENCE 503°1057"E FOR A DISTANCE OF 6 I.2 I FEET;THENCE 542°07'08"W FOR A DISTANCE OF I 1.57 FEET;TO A POINT OF TERMINATION. ALL OF THE ABOVE LYING IN MIAMI-DADE COUNTY, FLORIDA. NOTES: I)THIS SKETCH 4 LEGAL DESCRIPTION DOES NOT CONSTITUTE A SURVEY. 2)BEARINGS ARE BASED ON THE NORTH RIGHT-OF-WAY LINE OF N.E. 213th STREET OF"AVENTURA LAKES-PHASE 1"OF THE PLAT THEREOF,AS RECORDED IN PLAT BOOK 153, PAGE 080E THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA = N88°26'03"E) 3)THE SIDELINES OF THE ABOVE DESCRIBED EASEMENT ARE TO BE LENGTHENED OR SHORTENED AS NECESSARY IN ORDER TO MAINTAIN A CONTINUOUS STRIP OF LAND 10 FEET IN WIDTH AND TO INTERSECT EXISTING EASEMENTS, RIGHTS-OF-WAY,PROPERTY ONES OF RECORD AND BUILDING WALL LINES AS MAY BE APPLICABLE. 4)VALID COPIES OF THIS SKETCH AND LEGAL DESCRIPTION WILL BEAR THE EMBOSSED SEAL OF THE ATTESTING PROFESSIONAL LAND SURVEYOR. THIS "SKETCH & LEGAL DESCRIPTION WAS PREPARED UNDER MY SUPERVISION. LEVEL TECH SURVEYORS, LLC Kaufman Lynn Construction, Inc. Aventura Charter High School PREPARED BY: 3151 NE 213 ST, Aventura, Florida ki RONALD W. WALLING SURVEYORS, 1.1.C. LAND SURVEYORS'LAND PLANNERS PROFESSIONAL LAND SURVEYOR, NO. 6374 777 NW 72 No AVENUE,SURE 3134 STATE OF FLORIDA SHEET: MIAMI, FL 331 26. FAX:305.261.87831 "NOT VALID UNLESS SEALED WITH THE SURVEYORS EMBOSSED SEAL". OF P SHEETS DATE: 02-12-2019 UTILITY EASEMENT SKETCH and LEGAL DESCRIPTION FLORIDA POWER & LIGHT EASEMENT SECTION 34, TOWNSHIP 51 S, RANGE 42 E L-57.31' I N.E.CCRNER SECTION 34. TAN•31.15 TOWNSHIP 515,RANGE 42E ...25.,4±,i, o-s5r R..599: 4ro , — — -89.— N86.- E— _\ 116'''s 1 I i I6 .3 1 P.O.T. t gU 1 N I I 1 I I 1 (POINT "AW ----..—j 1 JJ70 ) s. i \-7e.?t, 17r7 I/1)--'-', ,,,,,T., "--, „..,,, I�1 a unuTY EASENTNT , \ .. I \ `'sw I I I NS, V ' 17 ni BENCNNAWR/2 o MD 5/6'WON ROD 1 I ,g.-. W/LB6633 CAP- I t -588'2003W 846.6 wELEVAICN=115 1;1/1- ._ P.O.B. -- 00.57' �— 43.00' P.O.T. MD 5/8"DON ROD I 8/LB6633 CAP 1 SCALE: l''=GO' PREPARED BY: LEGEND: Kaufman Lynn Construction, Inc. P.O.B. POINT OF BEGINNING Aventura Charter High School lair■gI P.O.C. POINT OF COMMENCEMENT 3151 NE 213 ST, LEVEL-TECH P.O.T. FLORIDAR OF POWER & LIGHT TERMINATION Aventura, Florida SURVEYORS, ILC, F.P.L. FL 6, P.B. PLAT BOOK LAND SURVEYORS•LAND PLANNERS Q CENTER LINE SHEET: 2 777 NW 72 No AVENUE,SUITE 3134 MIAMI, FL 33126. OHW OVERHANG WIRE n TEL:305.a61.8483 P/L PROPERTY LINE OF ' SHEETS CMCS Consulting Services • c: . • TO: City Commission Ronald J. Wasson, City Mana• - FROM: Eric M. Soroka, CMCS Consulting Sery DATE: March 7, 2019 SUBJECT: Recommendation to Approve Change Order "B" to the Agreement for Construction Management Services with a Guaranteed Maximum Price with Kaufman Lynn Construction for the Don Soffer Aventura High School Construction Project March 12, 2019 City Commission Meeting Agenda Item 5G RECOMMENDATION It is recommended that the City Commission adopt the attached Resolution approving Change Order "B", attached hereto, to the Agreement for Construction Management Services with a Guaranteed Maximum Price (GMP) with Kaufman Lynn Construction (Contractor) for the Don Soffer Aventura High School in the amount of$225,000. BACKGROUND As previously discussed in the February Update, the school safety and security features package developed in conjunction with the Police Department, security consultant and CSUSA have been finalized and are being added to the Contractor's Agreement via a change order. The original budget set aside $225,000 for security. Therefore, this change order has no impact on the overall project cost. The change order includes a state of the art security system including access control, cameras, wiring and labor. The actual scope of work and cost breakdown is exempt from public records laws and therefore is not attached to this document. However, a copy has been provided to the City Manager. If you have any questions, please feel free to contact me. Attachments RESOLUTION NO. 2019- A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE AND OTHERWISE ENTER INTO THE ATTACHED CHANGE ORDER "B" FOR THE AGREEMENT FOR CONSTRUCTION MANAGEMENT SERVICES WITH A GUARANTEED MAXIMUM PRICE WITH KAUFMAN LYNN CONSTRUCTION FOR THE AVENTURA CHARTER HIGH SCHOOL; AUTHORIZING THE CITY MANAGER TO TAKE NECESSARY AND EXPEDIENT ACTION TO CARRY OUT THE AIMS OF THIS RESOLUTION; PROVIDING FOR THE APPROPRIATION AND ALLOCATION OF FUNDS FOR SAID CHANGE ORDER; AND PROVIDING FOR AN EFFECTIVE DATE. NOW, THERFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FL: Section 1. The City Manager is hereby authorized to execute and otherwise enter into the attached Change Order "B" between the City and Kaufman Lynn Construction, for the Aventura Charter High School project and incorporated herein as specifically as if set forth at length herein. Said Change Order amount is $225,000. Section 2. The City Manager is hereby authorized and requested to do all things necessary to carry out the aims of this Resolution. Section 3. The funds to be allocated and appropriated pursuant hereto and for the purpose of carrying out the tenets of this Resolution shall be from Budget Line item Number 393-6010-561-6208. Section 4. This Resolution shall become effective immediately upon its adoption. The foregoing resolution was offered by Commissioner , who moved its adoption. The motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman City of Aventura Resolution No. 2019-_ PASSED AND ADOPTED this 12th day of March, 2019. ENID WEISMAN, MAYOR ATTEST: ELLISA L. HORVATH, MMC, CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY Page 2 of 2 Aventura High School Construction Project Kaufman Lynn Construction Change Order B Date: March 12, 2019 Item Description Amount School Security System Access control and cameras $225,000.00 Total $225,000.00 Ap• • ed b .i of ventura a CityManag CITY OF AVENTURA COMMUNITY DEVELOPMENT DEPARTMENT MEMORANDUM TO: City Commission FROM: Ronald J. Wasso City Manager BY: Joanne Carr, AICs Community Development Director DATE: March 8, 2019 SUBJECT: Proposed Amendment to City Code Chapter 31, Article IX, Sign Regulations to provide regulations for temporary graphic wrap for construction fences (01-LDR-19) March 12, 2019 Local Planning Agency Agenda Item '4 March 12, 2019 City Commission Meeting Agenda Item i'?`-' April 2, 2019 City Commission Meeting Agenda Item _ RECOMMENDATION As discussed at the City Commission workshop meeting of February 21, 2019, the attached ordinance is presented for recommendation by the Local Planning Agency and approval by the City Commission of a request to amend Sections 31-191(e), "Definitions" and to amend Section3l-191(k), "Temporary Signs", of the Land Development Regulations to add a definition of and regulations for a temporary graphic wrap for construction fences. DESCRIPTION OF THE PROPOSED AMENDMENT The proposed amendment to the Sign Regulations follows in underlined text: "ARTICLE IX. - SIGN REGULATIONS Sec. 31-191. - Sign regulations generally. (a) Intent and purpose. The purpose of this section is to promote and protect the public health, safety and general welfare by regulating existing and proposed signs and other street graphics within the City. In particular, this section is intended to preserve the unique aesthetic character of the City and ensure that signs are compatible with their surroundings. It is further intended to protect property values, create a better business climate, enhance the physical appearance of the community, preserve the natural beauty of the City and improve vehicular and pedestrian safety and reduce visual pollution. It is the belief of this City Commission that the nature of signs is to provide an index to needed goods and services. It is the intention of this section to control those signs and to authorize the use of signs that are: (1) Compatible with their surroundings. (2) Expressive of the identity of individual proprietors or of the community as a whole. (3) Legible under the circumstances in which they are seen. (4) Effective in indexing the environment. (5) Conducive to promoting traffic safety by preventing visual distraction. (e) Definitions. The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning: Temporary Graphic Wrap for Construction Fence: A vinyl mesh sign covering all of an approved and permitted construction fence for an ongoing construction proiect. Graphics shall be designed to enhance the aesthetics of the fence and to identify the proiect to be constructed, but not as an attention-getting device. No projecting, rotating blinking, swinging or streaming portions of the wrap and/or illumination shall be permitted. The wrap shall be securely affixed to the fence and maintained in good repair at all times. (f) Prohibited signs. The following are prohibited: 17) Signs erected or painted on fences or wall enclosures except as specifically permitted in this section. (k) Temporary signs. Temporary signs shall comply with the following restrictions, conditions, and limitations: (1) No placement on right-of-way or other public property. No temporary sign shall be placed on any public right-of-way or on property owned or used by the City. (2) Placement of temporary signs; no placement on vacant lot, utility poles, official signs, etc. No temporary sign shall be placed upon any vacant parcel without the written consent of the property owner filed with the City Clerk prior to posting of the sign. No 2 temporary sign shall be placed upon any public utility pole or equipment, tree, traffic control device or structure, bridge, guardrail, or official sign, or held or displayed in a manner which creates an obstruction of a public right-of-way or sidewalk or creates a traffic hazard. (3) Bond. Prior to the installation and/or construction of a temporary sign in accordance with this subsection (k), the applicant shall post or cause to be posted with the City Clerk a refundable cash bond in the minimum amount of $500.00. (4) Exemption from bond requirement. Any applicant placing less than four temporary signs not exceeding a size of ten square feet per sign shall be exempt from the requirement of a cash bond. Any candidate for elected office who has satisfied his or her qualifying fee requirement pursuant to the alternate means authorized by F.S. § 99.095 or § 99.0955, (the petition method of qualifying) shall be exempt from the requirement of posting the cash bond. (5) Permitted districts; time of posting and removal. Temporary signs shall be permitted in all zoning districts, as provided in this section. Unless otherwise specified below, no temporary sign shall be posted more than 90 days prior to the time of the event to which it relates, or permitted to remain longer than seven days after the event to which it relates. If a person placing a temporary sign fails to remove all temporary signs within the stated timeframe, he or she shall forfeit the refundable cash bond and the City shall remove the sign. The sign removal requirements of this subparagraph do not apply to bumper stickers on vehicles or campaign buttons on people. (6) Location near easement or street. No temporary sign shall be placed within five feet of any easement of the property upon which the sign is located. No temporary sign shall be located within ten feet of the edge of the right-of-way. Temporary signs shall be located solely on the property side of the sidewalk if there is a sidewalk unless held by an individual occupying the sidewalk or right-of-way. (7) Traffic hazards. No temporary sign shall be located on property in such a manner as to interfere with or present a hazard to the flow of traffic along the streets adjacent to the property upon which the temporary sign is located. (8) Responsibility for hazards; responsibility for removal of signs. All property owners shall be responsible for any hazard to the general public which is caused by, or created by reason of, the installation and/or maintenance of the temporary signs on his, her or its property. The property owner shall also be responsible for the timely removal of such signs in accordance with the requirements of subsection (5) of this section. In the event of an announcement by the National Weather Service that the City is under a hurricane watch, the person placing a sign shall remove the sign within 24 hours of the announcement of the hurricane watch. Failure to remove the sign within 24 hours of the announcement shall cause the City to remove the sign in accordance with the provisions of subsection (5) of this section. (9) Enforcement. Any temporary sign not posted or removed in accordance with the provisions of this subsection, and any such sign which exists in violation of this section, 3 shall be deemed to be a public nuisance and shall be subject to removal and confiscation by the City. If the City removes the sign, the City Manager or his designee shall deduct the cost and expense of removal from the posted cash bond. The City shall not be responsible for the damage or destruction of any sign which is removed in accordance with this provision. (10) Illumination. Temporary signs shall not be illuminated. (11) Temporary signs must be posted in accordance with the following tables. 112) Temporary Graphic Vinyl Mesh Wrap for Construction Fence: Residential District Nonresidential District Approvals Sian permit reauired. Sign permit required. necessary: Number One wrap, covering all of an One wrap,covering all of an (maximum): approved and permitted approved and permitted construction construction fence. fence. Sign area Wrap covering the height and width Wrap covering the height and width (maximum): of approved and permitted of approved and permitted construction fence. construction fence. Length of Permitted for a 12-month period Permitted for a 12-month period display: from date of construction fence from date of construction fence permit issuance or until construction permit issuance or until construction fence removed, provided that active fence removed, provided that active construction is ongoing. construction is ongoing Other Sign copy may include (i) project Sign copy may include (i) proiect restrictions: name; (ii) rendering; (iii) nature of name: (ii) rendering; (Hi) nature of development: (iv) general development; (iv) general contractor: contractor: (v) architect: (vi) lending 1v) architect: (vi) lending institution; institution; (vii) owner or agent; (viii) (vii) owner or agent; (viii) phone phone number; and (ix) green number: and (ix) green building 4 building program participation, if program participation, if applicable. applicable. Wrap shall be securely affixed to the Wrap shall be securely affixed to construction fence. No proiectinq, the construction fence. No rotating, blinking, swinging or proiectinq, rotating, blinking, streaming portions of the wrap swinging or streaming portions of and/or illumination permitted. the wrap and/or illumination permitted. Wrap to be maintained in secured condition and good repair at all times Wrap to be maintained in secured condition and good repair at all times. ANALYSIS Staff provides the following analysis of the request using the standards for reviewing proposed amendments to the text of the Land Development Regulations contained in Section 31-77(g) of the City Code. 1. The proposed amendment is legally required. The proposed amendment is legally required to implement the requested revision to the Code. 2. The proposed amendment is consistent with the goals and objectives of the Comprehensive Plan. The proposed amendment is consistent with the goals and objectives of the Comprehensive Plan, specifically, Objective 1 and its measure of the Land Use Goal in the Future Land Use Element which states that "the Land Development Regulations shall provide a cohesive blueprint for development and redevelopment of the City that accommodates growth while maintaining the integrity of the built and natural environment." The measure of Objective 1 above is incorporation of policy provisions in to the Land Development Regulations. This amendment incorporates policy decisions for temporary graphic wraps on construction fences. 5 3. The proposed amendment is consistent with the authority and purpose of the LDRs. The proposed amendment is consistent with the authority and purpose of the Land Development Regulations. The purpose of the LDRs is to implement further the Comprehensive Plan of the City by establishing regulations, procedures and standards for review and approval of all development and uses of land and water in the City. 4. The proposed amendment furthers the orderly development of the City. The proposed amendment furthers the orderly development of the City, for the reason provided in Paragraph 3 above. 5. The proposed amendment improves the administration or execution of the development process. The proposed amendment improves the administration or execution of the development process in that it provides for regulation and a process by which to approve temporary graphic wraps on construction fences. 6 ORDINANCE NO. 2019- AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA AMENDING ARTICLE IX, "SIGN REGULATIONS," OF CHAPTER 31, "LAND DEVELOPMENT, REGULATIONS" OF THE CITY CODE TO ADD A DEFINITION OF AND REGULATION FOR TEMPORARY GRAPHIC WRAPS ON CONSTRUCTION FENCES; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Commission desires to add a definition of and regulation for temporary graphic wraps on construction fences to Section 31-191, Sign Regulations; and WHEREAS, the City Commission has been designated as the Local Planning Agency for the City pursuant to Section 163.3174, Florida Statutes; and WHEREAS, the City Commission, in its capacity as the Local Planning Agency, has reviewed the proposed amendments to the City Code pursuant to the required public hearing and has recommended approval of this Ordinance; and WHEREAS, the City Commission has reviewed the proposed amendments, and finds that it is in the best interests of the public to amend the City Code as set forth in this Ordinance; and WHEREAS, the City Commission has held the required public hearings, duly noticed in accordance with law; and WHEREAS, the City Commission has reviewed the action set forth in the Ordinance and has determined that such action is consistent with the Comprehensive Plan. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, THAT': Section 1. Recitals. The foregoing whereas clauses are hereby ratified and incorporated within this Ordinance. Section 2. City Code Amended. That Article IX, "Sign Regulations", Section 31-191 — "Sign regulations generally." of Chapter 31 "Land Development Regulations" of the City Code is hereby amended to read as follows: "ARTICLE IX. - SIGN REGULATIONS Sec. 31-191. - Sign regulations generally. ' Underlined provisions constitute proposed additions to existing text; '�,�.,. eugh provisions indicate proposed deletions from existing text. City of Aventura Ordinance No. 2019- (a) Intent and purpose. The purpose of this section is to promote and protect the public health, safety and general welfare by regulating existing and proposed signs and other street graphics within the City. In particular, this section is intended to preserve the unique aesthetic character of the City and ensure that signs are compatible with their surroundings. It is further intended to protect property values, create a better business climate, enhance the physical appearance of the community, preserve the natural beauty of the City and improve vehicular and pedestrian safety and reduce visual pollution. It is the belief of this City Commission that the nature of signs is to provide an index to needed goods and services. It is the intention of this section to control those signs and to authorize the use of signs that are: (1) Compatible with their surroundings. (2) Expressive of the identity of individual proprietors or of the community as a whole. (3) Legible under the circumstances in which they are seen. (4) Effective in indexing the environment. (5) Conducive to promoting traffic safety by preventing visual distraction. (e) Definitions. The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning: Temporary Graphic Wrap for Construction Fence: A vinyl mesh sign covering all of an approved and permitted construction fence for an ongoing construction project. Graphics shall be designed to enhance the aesthetics of the fence and to identify the proiect to be constructed, but not as an attention-getting device. No projecting. rotating, blinking, swinging or streaming portions of the wrap and/or illumination shall be permitted. The wrap shall be securely affixed to the fence and maintained in good repair at all times. (0 Prohibited signs. The following are prohibited: 17) Signs erected or painted on fences or wall enclosures except as specifically permitted in this section. (k) Temporary signs. Temporary signs shall comply with the following restrictions, conditions, and limitations: (1) No placement on right-of-way or other public property. No temporary sign shall be placed on any public right-of-way or on property owned or used by the City. (2) Placement of temporary signs; no placement on vacant lot, utility poles, official signs, etc. No temporary sign shall be placed upon any vacant parcel without the written consent of the property owner filed with the City Clerk prior to posting of the sign. No temporary sign shall be placed upon any public utility pole or equipment, tree, Page 2 of 6 City of Aventura Ordinance No. 2019- traffic control device or structure, bridge, guardrail, or official sign, or held or displayed in a manner which creates an obstruction of a public right-of-way or sidewalk or creates a traffic hazard. (3) Bond. Prior to the installation and/or construction of a temporary sign in accordance with this subsection (k), the applicant shall post or cause to be posted with the City Clerk a refundable cash bond in the minimum amount of$500.00. (4) Exemption from bond requirement. Any applicant placing less than four temporary signs not exceeding a size of ten square feet per sign shall be exempt from the requirement of a cash bond. Any candidate for elected office who has satisfied his or her qualifying fee requirement pursuant to the alternate means authorized by F.S. § 99.095 or § 99.0955, (the petition method of qualifying) shall be exempt from the requirement of posting the cash bond. (5) Permitted districts; time of posting and removal. Temporary signs shall be permitted in all zoning districts, as provided in this section. Unless otherwise specified below, no temporary sign shall be posted more than 90 days prior to the time of the event to which it relates, or permitted to remain longer than seven days after the event to which it relates. If a person placing a temporary sign fails to remove all temporary signs within the stated timeframe, he or she shall forfeit the refundable cash bond and the City shall remove the sign. The sign removal requirements of this subparagraph do not apply to bumper stickers on vehicles or campaign buttons on people. (6) Location near easement or street. No temporary sign shall be placed within five feet of any easement of the property upon which the sign is located. No temporary sign shall be located within ten feet of the edge of the right-of-way. Temporary signs shall be located solely on the property side of the sidewalk if there is a sidewalk unless held by an individual occupying the sidewalk or right-of-way. (7) Traffic hazards. No temporary sign shall be located on property in such a manner as to interfere with or present a hazard to the flow of traffic along the streets adjacent to the property upon which the temporary sign is located. (8) Responsibility for hazards; responsibility for removal of signs. All property owners shall be responsible for any hazard to the general public which is caused by, or created by reason of, the installation and/or maintenance of the temporary signs on his, her or its property. The property owner shall also be responsible for the timely removal of such signs in accordance with the requirements of subsection (5) of this section. In the event of an announcement by the National Weather Service that the City is under a hurricane watch, the person placing a sign shall remove the sign within 24 hours of the announcement of the hurricane watch. Failure to remove the sign within 24 hours of the announcement shall cause the City to remove the sign in accordance with the provisions of subsection (5) of this section. (9) Enforcement. Any temporary sign not posted or removed in accordance with the provisions of this subsection, and any such sign which exists in violation of this section, shall be deemed to be a public nuisance and shall be subject to removal and confiscation by the City. If the City removes the sign, the City Manager or his designee Page 3 of 6 City of Aventura Ordinance No. 2019- shall deduct the cost and expense of removal from the posted cash bond. The City shall not be responsible for the damage or destruction of any sign which is removed in accordance with this provision. (10) Illumination. Temporary signs shall not be illuminated. (11) Temporary signs must be posted in accordance with the following tables. (12) Temporary Graphic Vinyl Mesh Wrap for Construction Fence: Residential District Nonresidential District Approvals Sign permit required. Sign permit required. necessary: Number One wrap, covering all of an approved One wrap, covering all of an approved (maximum): and permitted construction fence. and permitted construction fence. Sign area Wrap covering the height and width of Wrap covering the height and width of (maximum): approved and permitted construction approved and permitted construction fence. fence. Length of Permitted for a 12-month period from Permitted for a 12-month period from display: date of construction fence permit date of construction fence permit issuance or until construction fence issuance or until construction fence removed, provided that active removed, provided that active construction is ongoing. construction is ongoing. Other Sign copy may include 0) proiect Sign copy may include (i) project restrictions: name: (ii) rendering; (iii) nature of name; (ii) rendering; (iii) nature of development; (iv) general contractor development; (iv) general contractor (v) architect; (vi) lending institution' (v) architect; (vi) lending institution; (vii) (vii) owner or agent; (viii) phone owner or agent; (viii) phone number number: and (ix) green building and (ix) green building program program participation, if applicable. participation, if applicable. Wrap shall be securely affixed to the Wrap shall be securely affixed to the construction fence. No projecting construction fence. No projecting rotating, blinking, swinging or rotating, blinking, swinging or streaming portions of the wrap and/or streaming portions of the wrap and/or Page 4 of 6 City of Aventura Ordinance No. 2019- illumination permitted. illumination permitted. Wrap to be maintained in secured Wrap to be maintained in secured condition and good repair at all times. condition and good repair at all times. Section 3. Severability. The provisions of this Ordinance are declared to be severable and if any section, sentence, clause or phrase of this Ordinance shall for any reason be held to be invalid or unconstitutional, such decision shall not affect the validity of the remaining sections, sentences, clauses, and phrases of this Ordinance but they shall remain in effect, it being the legislative intent that this Ordinance shall stand notwithstanding the invalidity of any part. Section 4. Inclusion in the Code. It is the intention of the City Commission, and it is hereby ordained that the provisions of this Ordinance shall become and be made a part of the Code of the City of Aventura; that the sections of this Ordinance may be renumbered or re-lettered to accomplish such intentions; and that the word "Ordinance" shall be changed to "Section" or other appropriate word. Section 5. Effective Date. This Ordinance shall be effective immediately upon adoption on second reading. The foregoing Ordinance was offered by Commissioner , who moved its adoption on first reading. This motion was seconded by Commissioner and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman The foregoing Ordinance was offered by Commissioner , who moved its adoption on second reading. This motion was seconded by Commissioner and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman Page 5 of 6 City of Aventura Ordinance No. 2019- PASSED on first reading this 12th day of March, 2019. PASSED AND ADOPTED on second reading this 2nd day of April, 2019. ENID WEISMAN, MAYOR ATTEST: ELLISA L. HORVATH, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY This Ordinance was filed in the Office of the City Clerk this day of , 2019. Page 6 of 6 CITY OF AVENTURA OFFICE OF THE CITY MANAGER MEMORANDUM TO: City Commission FROM: Ronald J. Wasson, City Manage DATE: February 22, 2019 SUBJECT: Ordinance Creating the Don Soffer Aventura High School Advisory Board 1st Reading March 12, 2019 City Commission Meeting Agenda Item ja 2nd Reading April 2, 2019 City Commission Meeting Agenda Item RECOMMENDATION It is recommended that the City Commission adopt the attached Ordinance creating the Don Soffer Aventura High School Advisory Board. BACKGROUND In accordance with directions discussed at the February Workshop Meeting, the City Attorney has drafted the attached Ordinance which creates the Don Soffer Aventura High School Advisory Board. The Ordinance includes the points raised at the Workshop Meeting and is based on previous Ordinances establishing Boards in the City. If you have any questions, please feel free to contact me. RJW/act Attachment CC01784-19 ORDINANCE NO. 2019- AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, CREATING DIVISION 8 "DON SOFFER AVENTURA HIGH SCHOOL ADVISORY BOARD" OF ARTICLE III "ADVISORY BOARDS" OF CHAPTER 2 "ADMINISTRATION" OF THE CITY CODE BY CREATING SECTION 2- 218 "CREATION AND QUALIFICATIONS," SECTION 2-219 "PROCESS FOR APPOINTMENT OF BOARD MEMBERS," SECTION 2-220 "JURISDICTION, DUTIES AND MEETINGS," SECTION 2-221 "RULES OF PROCEDURE; QUORUM," AND SECTION 2-222 "STANDARDS OF CONDUCT FOR MEMBERS"; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, it is the intent of the City Commission, serving in their role as Governing Board, to establish the Don Soffer Aventura High School Advisory Board, and that this board shall act in an advisory capacity to the Governing Board on matters relating to the Don Soffer Aventura High School. NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AS FOLLOWS: Section 1. Recitals Adopted. That the above stated recital is hereby adopted and confirmed. Section 2. Code Revised. That Division 8 "Don Soffer Aventura High School Advisory Board" of Article Ill "Advisory Boards" of Chapter 2 "Administration" of the City Code is hereby created to read as follows: Division 8. Don Soffer Aventura High School Advisory Board. Sec. 2-218. Creation and Composition. A. There is hereby created and established the Don Soffer Aventura High School Advisory Board (the "Board") consisting of seven (7) members as follows: City of Aventura Ordinance No. 2019- • Non-voting members: The City Manager, or his/her designee, and the Principal of the Don Soffer Aventura High School, or his/her designee, shall serve as ex officio, non-voting members. • Voting members: Three (3) individuals who shall be residents of Aventura shall be appointed to the Board by the Mayor subject to approval of the City Commission for a two (2) year term. Two (2) members of the Board shall consist of parents of those students enrolled in the Don Soffer Aventura High School who are selected by the parents of the High School students, for appointment by the Mayor, subject to approval of the City Commission, for a one (1) year term commencing September 1st and expiring on August 31Vt of the following year. B. Members of the Board shall serve without compensation and shall not be reimbursed for travel, mileage, or per diem expenses. C. In the event of the resignation or removal of any member of the Board, the Mayor shall appoint a person to fill the vacancy on such Board for the unexpired portion of the term of the member vacating such office, subject to approval of the City Commission in accordance with procedures established herein. D. In the event that a member of the Board shall be absent from a duly-called meeting of the Board for three consecutive meetings or in the event that a member has two (2) unexcused absences in a six (6) month period, then Page 2 of 7 City of Aventura Ordinance No. 2019-_ in that event such member shall automatically be removed as a member of the Board by the City Manager. Sec. 2-219. Process for Appointment of Board Members. A. Individuals wishing to be a member of the Board as to the three (3) resident positions described in Section 2-218 above, shall make application to the City Manager on the forms provided for by the City. The City Commission shall interview all applicants prior to the selection of such Board members. B. Individuals wishing to be a member of the Board as to the two (2) parent of student positions described in Section 2-218 above, shall make application as provided on forms provided by the Principal of the Don Soffer Aventura High School in a manner consistent with the School Charter. Sec. 2-220. Jurisdiction, Duties and Meetings. A. The duties of the Board shall include but not be limited to the following: • Review of school's policies to ensure consistency with the school's mission statement and with attainment of performance standards; • Review and evaluate goals and performance of the school and make recommendations; • Review the annual budget and provide recommendations to the management company, City Manager and Governing Board; Page 3 of 7 City of Aventura Ordinance No.2019-_ • To abide by the goals and objectives and fulfill the requirements of the Charter Agreement with the Miami-Dade County School Board, as amended from time to time. • Assist and provide advice on fund raising efforts. B. The actions, decisions and recommendations of the Advisory Board shall not be final or binding on the Governing Board, but shall be advisory only. The Board or its members shall coordinate all recommendations for improvement in the operation of the Don Soffer Aventura High School through the City Manager and shall not interact directly with the school administration and staff. C. An organizational meeting of the Board shall be held as the first meeting of each year, or as soon thereafter as practicable, for the purpose of electing officers for the ensuing year. A Chair and Vice-Chair shall be elected for terms of one (1) year by the Board from its voting membership. At least one (1) regular meeting of the board shall be held each month from September through June of each school year, unless otherwise determined by the Board. Special meetings of the Board may be called by the City Manager. Sec. 2-221. Rules of Procedure; Quorum A. The Board shall adopt rules of procedure not inconsistent with the ordinances of the City and the laws of the State of Florida and shall utilize Robert's Rules of Order recently revised 1990 Edition for the rules of Page 4 of 7 City of Aventura Ordinance No. 2019-_ procedure for the conduct of meetings of the Board. The Board may create additional rules for the conduct of its internal proceedings. B. During the first meeting of the Board, the members shall elect one (1) of their members to act as Chair and another member to act as Vice-Chair. C. Three (3) members shall constitute a quorum for the transaction of business of the Board. Official action shall be taken by the Board only upon the concurring vote of a majority of the members present at an official meeting of the Board, except that at least three (3) affirmative votes shall be required for official action. Sec. 2-222. Standards of Conduct for Members. All members of the Board shall be subject to the Standards of Conduct for Public Officers and Employees, as set by federal, state, county, city or other applicable law pursuant to City Charter Section 7.03. Section 3. Severability. That the provisions of this Ordinance are declared to be severable and if any section, sentence, clause or phrase of this Ordinance shall for any reason be held to be invalid or unconstitutional, such decision shall not affect the validity of the remaining sections, sentences, clauses, and phrases of this Ordinance but they shall remain in effect, it being the legislative intent that this Ordinance shall stand notwithstanding the invalidity of any part. Section 4. Inclusion in the Code. That it is the intention of the City Commission, and it is hereby ordained that the provisions of this Ordinance shall become and be made a part of the Code of the City of Aventura; that the sections of this Page 5 of 7 City of Aventura Ordinance No. 2019- Ordinance may be renumbered or relettered to accomplish such intentions; and that the word "Ordinance" shall be changed to "Section" or other appropriate word. Section 5. Effective Date. That this Ordinance shall be effective immediately upon adoption on second reading. The foregoing Ordinance was offered by Commissioner , who moved its adoption on first reading. This motion was seconded by Commissioner and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman The foregoing Ordinance was offered by Commissioner , who moved its adoption on second reading. This motion was seconded by Commissioner and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman Page 6 of 7 City of Aventura Ordinance No. 2019- PASSED on first reading this 12th day of March, 2019. PASSED AND ADOPTED on second reading this 2nd day of April, 2019. ENID WEISMAN, MAYOR ATTEST: ELLISA L. HORVATH, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY Page 7 of 7 CITY OF AVENTURA OFFICE OF THE CITY MANAGER MEMORANDUM TO: City Commission FROM: Ronald J. Wasson, City Manager DATE: February 28, 2019 SUBJECT: Ordinance Amending City Code Chapter 10, Sectionl0-1, Removal of Canine Fecal Matter; Canines to be Leashed 1" Reading March 12, 2019 City Commission Meeting Agenda Item 1(t 2nd Reading April 2, 2019 City Commission Meeting Agenda Item RECOMMENDATION It is recommended that the City Commission adopt the attached Ordinance amending the City Code to provide exceptions to canine leashing requirements in public places and for the removal of fecal matter. If you have any questions, please feel free to contact me. RJW/act Attachment CC01789-19 ORDINANCE NO. 2019- AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, AMENDING CHAPTER 10, ENTITLED "ANIMALS," OF THE CITY CODE BY AMENDING SECTION 10-1, ENTITLED "REMOVAL OF CANINE FECAL MATTER; CANINES TO BE LEASHED"; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Aventura (the "City") Commission finds that Section 10-1 of the City Code should be amended to provide for exceptions to the leashing requirement in certain public places and exceptions for service animals; and WHEREAS, the City Commission finds that increasing the amount of fines for violating City Code Section 10-1 will improve compliance and deter future violations; and WHEREAS, the City Commission finds that this amendment improves the quality of life within the City and is in the best interest of its residents. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AS FOLLOWS1: Section 1. Recitals Incorporated. That each of the above-stated recitals are hereby adopted and confirmed. Section 2. City Code Amended. That Section 10-1, entitled 'Removal of canine fecal matter; canines to be leashed," of Chapter 10 of the City Code is hereby amended to read, as follows: Chapter 10 — ANIMALS Sec. 10-1. - Removal of canine fecal matter; canines to be leashed. (a) Removal of fecal matter required. It shall be unlawful for any owner or person in control or having custody of any canine to fail to remove the fecal matter of such animal from: (1) The street, sidewalk, swale, bikepath, park area or any other public property; or 'Additions to existing City Code text are indicated by underline.deletions from existing City Code text are indicted by City of Aventura Ordinance No. 2019- (2) Any private property not belonging to the owner or person having custody of the canine. (b) Disposal of fecal matter. For the purpose of this section, all fecal matter shall be immediately removed by placing such matter in a bag, wrapper, or closed or sealed container and thereafter disposing of it in a trash receptacle, sanitary disposal unit or other closed or sealed container. (c) Responsibility of property owners. Any person owning or leasing any private property in the City is responsible for maintaining such property in an odor- free and sanitary condition in accordance with this section. (d) Canines to be leashed. It shall be unlawful to take an unleashed canine into, or to keep any unleashed canine in or upon, any public property in the City, except into parks or areas within parks which are specifically designated as dog parks and are authorized by the City for unleashed canines. All canines, when not on the premises of the owner or the person in control thereof, must be on a leash under control of a competent person,except as specified above. (e) Penalty. Notwithstanding the generally applicable civil penalty under City Code section 2-348(c) Except as otherwise provided, a violation of this section shall constitute a civil infraction punishable by the following civil - (1) A fine not exceeding $254}0$75.00 for a first violation; (2) A fine not exceeding $50:80$150.00 for a second violation within one year of the first violation; and (3) A fine not exceeding $188,00$500 for each additional violation within one year of the second or subsequent violation. (f) Exceptions. This section shall not apply to blind persons accompanied by a guide dog used for their assistance or any service animal trained and certified to work or perform tasks for an individual with a disability so long as such service animal is handled in compliance with Section 413.08, Florida Statutes. Section 3. Severability. The provisions of this Ordinance are declared to be severable and if any section, sentence, clause or phrase of this Ordinance shall for any reason be held to be invalid or unconstitutional, such decision shall not affect the validity of the remaining sections, sentences, clauses, and phrases of this Ordinance but they shall remain in effect, it being the legislative intent that this Ordinance shall stand notwithstanding the invalidity of any part. Section 4. Inclusion in the Code. That it is the intention of the City Commission, and it is hereby ordained that the provisions of this Ordinance shall become and be made a part of the Code of the City of Aventura; that the sections of this Ordinance may be re- numbered or re-lettered to accomplish such intention; and that the word "Ordinance" Page 2 of 4 City of Aventura Ordinance No. 2019- shall be changed to "Section" or other appropriate word. Section 5. Effective Date. That this Ordinance shall be effective immediately upon adoption on second reading. The foregoing Ordinance was offered by Commissioner , who moved its adoption on first reading. This motion was seconded by Commissioner and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman The foregoing Ordinance was offered by Commissioner , who moved its adoption on second reading. This motion was seconded by Commissioner and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman Page 3 of 4 City of Aventura Ordinance No. 2019- PASSED on first reading this 12th day of March, 2019. PASSED AND ADOPTED on second reading on this 21d day of April, 2019. ENID WEISMAN, MAYOR ATTEST: ELLISA L. HORVATH, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY Page 4 of 4 CITY OF AVENTURA FINANCE DEPARTMENT MEMORANDUM TO: City Commission FROM: Ronald J. Wasson, City ManagerlJ BY: Brian K. Raducci, Finance Director DATE: March 7, 2019 SUBJECT: Mid-Year Ordinance Amending 2018/19 Budget 1•`Reading March 12, 2019 City Commission Meeting Agenda Item 7 1) 2nd Reading April 2, 2019 City Commission Meeting Agenda Item RECOMMENDATION It is recommended that the City Commission approve the attached Ordinance amending the 2018/19 budget. The total amount of each fund's budget amendment is outlined below. BACKGROUND As you may be aware, the City normally amends the budget at mid-year to: • recognize actual fund balance amounts carried over based on the prior years audit and to; • re-appropriate the balances in capital outlay projects which were not 100% complete by the end of the prior fiscal year. The need to re-appropriate unspent capital accounts and to recognize the actual fund balances at September 30, 2018 to the 2018/19 budget will also be addressed in my memorandum dated March 7, 2019 which will accompany the Commission's electronic package containing the Comprehensive Annual Financial Report. • In addition, there are a couple of "Other Items" that were not considered in the originally adopted FY 2018/19 Budget that need to be addressed through a corresponding budget amendment that will provide the necessary funding. Some of these items may have been previously discussed with the Commission but now require formal action. For simplicity, the following narrative addresses all of the items discussed above in "Fund/Account Number sequence" in terms of how they appear on the adjacent Budget Amendment Schedule. 1 GENERAL FUND (001) Revenues and Expenditures—a net increase of$12,773, respectively 1. To appropriate $95,000 worth of additional funding to replace the NC chiller at the AACC facility which was originally scheduled to be replaced in 2020. According to our Public Works/Transportation Department, the original unit was not properly treated to resist corrosion resulting from salt air exposure. The unit is now rusted out to a point where it is operating with only one (1) condenser. In order to ensure that the AACC facility is ready for the upcoming summer season and due to the 8 — 10 week timeframe in takes to build/install the unit, the City Manager authorized staff to move forward with its replacement on February 4, 2019. The new unit will be designed to be resistant to salt air corrosion. This additional cost will be offset by a corresponding reduction to the Capital Reserve in the amount of$95,000. 2. To increase (decrease) the net Non Departmental/Transfers to the debt service funds by $12,773 as follows: a. Fund 230—($741) b. Fund 250—$13,514 This amendment allows the City to recognize and utilize actual fund balances from the Iwo-related debt service funds based on the prior year's audit and to adjust for the change in interest rate on the Series 2012 Loan as described below. As previously indicated on the FY 2017/18 End of Year Budget Amendment, on August 27, 2018, the City was informed by SunTrust Bank that as a result of the decrease in the maximum federal corporate income tax rate from 35% to 21% that occurred in January 2018, the terms of the documents governing our tax exempt financing with them (Series 2012 Revenue Refunding Bonds) required that the interest rate applicable to the financing be increased from 2.18% to 2.65%. Since this change was not made aware to the City by SunTrust Bank until after the FY 2018/19 Budget was prepared (August 27, 2018) this account along with the 2012 (A) Loan Debt Service Fund (250) and the 2012 (B) Loan Debt Service Fund (290) now need to be amended. 9125 — Transfer to Debt Service Fund — 2012 (A) (Fund 250) — to appropriate additional funds of $13,514 for interest that was/will be payable on February 1 and August 1, 2019, respectively. The original debt, issued in 2002 was utilized to acquire property for the Charter School and partially fund the Community Recreation Center. The net overage as described above will be offset by additional Carryover(3999000). 2 SPECIAL REVENUE FUNDS POLICE EDUCATION FUND (110) Revenues and Expenditures—a net increase of$5,491, respectively To recognize and re-appropriate additional Carryover in the amount of$5,491 based on the prior year's audit in order to provide for additional Training. TRANSPORTATION AND STREET MAINTENANCE FUND (120) Revenues and Expenditures—a net increase of$3,077,724, respectively To recognize and re-appropriate additional Carryover in the amount of $3,077,724 to fund the two (2) projects below as well as to adjust the Capital Reserve budgeted line item. These projects were in process and not 100% complete by the end of the prior fiscal year: 1. To re-appropriate $90,985 for a Road Resurfacing project budgeted in FY 2017/18 (i.e., Mystic Point Drive Milling & Resurfacing) that was in process at September 30, 2018. 2. To re-appropriate $150,000 for Street Lighting Improvements project budgeted in FY 2017/18 (i.e., LED fixture switch out at Mystic Point Drive &Turnberry Way, NE 188"' ST, 28th Ct. [between 187th & 1851 and NE 185th Street) that was in process at September 30, 2018. 3. To increase the Capital Reserve budgeted line item by a net amount of $2,836,739 in order to adjust it as a result of the post-audit budget amendments described above. 911 FUND(180) Revenues and Expenditures—a net increase of$18,904, respectively To recognize and re-appropriate additional Carryover in the amount of $18,904 based on the prior year's audit in order to provide for additional capital reserve. DEBT SERVICES FUNDS DEBT SERVICE FUND SERIES 2010& 2011 (230) (Revenue Reclassification of$741 —net effect is$0) To recognize and re-appropriate a Carryover in the amount of $741 based on the prior year's audit and to simultaneously reduce the transfer from the General Fund by $741 for a net effect of$0. 3 DEBT SERVICE FUND SERIES 2012 (A) CHARTER SCHOOL LAND ACQUISITION (250) Revenues and Expenditures—a net increase of$13,540, respectively To recognize and re-appropriate a Carryover in the amount of$26 based on the prior year's audit. To recognize the additional net Transfer In from the General Fund of $13,514 and to appropriate the additional interest ($13,540) that was/will be payable on February 1 and August 1, 2019, respectively. DEBT SERVICE FUND SERIES 2012 (B) CHARTER SCHOOL BUILDING CONSTRUCTION (290) Revenues and Expenditures—a net increase of$15,936, respectively To recognize the Transfer In from the Charter School Fund of $15,936 and to appropriate the additional interest ($15,936) that was/will be payable on February 1 and August 1, 2019, respectively. CAPITAL PROJECTS FUND (392) Revenues and Expenditures—a net increase of$642,378, respectively To recognize and re-appropriate additional carryover funds to fund the items below. Additional Carryover: • Police—$51,465 • Community Services—$265,913 • Public Works/Transportation - $325,000 (traffic flow improvement project) Additional Capital Reserve: • Police—$51,465 • Community Services—$913 • Public Works/Transportation -$325,000 (traffic flow improvement project) 3930 Transfer to Charter H.S. Construction Fund (Fund 393) — to appropriate Capital Project Fund reserves that total $265,000 to assist with funding anticipated additional costs that may be required related to the construction of the Don Soffer Aventura High School. 4 AVENTURA CHARTER SCHOOL CONSTRUCTION FUND(393) Revenues and Expenditures—a net increase of$1,192,166 respectively To recognize and re-appropriate additional carryover and transfers to fund the items below. Additional Carryover: • Investment Income—$82,166 (earned in FY 2017/18) • Legal Fee Contribution—$75,000 (received in FY 2017/18) • Chabad House of N. Dade—$270,000 (received in FY 2018/19 -01/30/2019) • Granite Aventura LLC—$500,000 (received in FY 2018/19 -02/07/2019) • Additional revenue (Transfer) from the Capital Projects Fund—$265,000 Facility/Building Construction: • To re-appropriate a Carryover in the amount of $157,166 based on the prior year's audit to primarily cover the cost of Change Order "K for Construction Management Services with Kaufman Lynn Construction that was approved by the Commission on January 8, 2019. (Resolution No. 2019-02) • To allocate new funding to cover anticipated additional costs that may be required. If you should have any questions related to this memorandum, please feel free to contact the City Manager. BKR/bkr 5 ORDINANCE NO. 2019- _ AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AMENDING ORDINANCE NO. 2018-18 WHICH ORDINANCE ADOPTED A BUDGET FOR THE 2018/2019 FISCAL YEAR BY REVISING THE 2018/2019 FISCAL YEAR OPERATING AND CAPITAL BUDGET AS OUTLINED IN EXHIBIT "A" ATTACHED HERETO; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS ORDINANCE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, upon the periodic review and analysis of current budgetary commitments and obligations, and based upon the projected needs and requirements of the City and upon the recommendations of the City Manager (and the concurrence of the Finance Director as to Accounting Principles), it is deemed necessary to adjust, amend and implement the 2018/2019 Operating and Capital Budget as set forth in Exhibit "A" attached hereto and made a part hereof. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AS FOLLOWS: Section 1. The recitals contained in the preamble to this Ordinance are incorporated by reference herein. Section 2. The City Commission hereby authorizes the amendment of Ordinance No. 2018-18, which Ordinance adopted a budget for the 2018/2019 fiscal year, by revising the 2018/2019 budget as set forth on the attached Exhibit "A" which exhibits are deemed incorporated by reference as though set forth in full herein. Section 3. The City Manager is hereby authorized to do all things necessary to carry out the aims of this Ordinance. City of Aventura Ordinance No.2019- Section 4. Effective Date. This Ordinance shall be effective immediately upon adoption on second reading and shall be applicable retroactively from and after October 1, 2018. The foregoing Ordinance was offered by Commissioner , who moved its adoption on first reading. This motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman The foregoing Ordinance was offered by Commissioner , who moved its adoption on second reading. This motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman Page 2 of 3 City of Aventura Ordinance No. 2019- PASSED on first reading this 12th day of March, 2019. PASSED AND ADOPTED on second reading this 2nd day of April, 2019. MAYOR ENID WEISMAN ATTEST: ELLISA L. HORVATH, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY Page 3 of 3 Exhibit A FY 2018/19 Budget Amendments GENERAL FUND(001) Revenues Non-Revenue 3999000 Carryover $ 15,394,799 $ 12,773 $ 15,407,572 SUBTOTAL $ 15,394,799 $ 12,773 $ 15,407,572 Total Amendments-Revenues $ 12,773 Expenditures Capital Outlay/Arts&Cultural Center(8070-5751 6410 Equipmenb$5,000 $ 82,038 $ 95,000 $ 177,038 SUBTOTAL $ 82,038 $ 95,000 $ 177,038 Non Departmental/Transfers(90015811 9123 Transfer to Debt Service Fund-2010/11 1,195,704 (741) 1,194,963 9125 Transfer to Debt Service Fund-2012(A) 345,621 13,514 359,135 SUBTOTAL $ 1,541,325 $ 12,773 $ 1,554,098 Non DepartmentaUCapital Outlay(80905901 6999 Capital Reserve 14,772,304 (95,000) 14,677,304 SUBTOTAL $ 14,772,304 $ (95,000) $ 14,677,304 Total Amendments-Expenditures $ 12,773 Page 1 of 4 Exhibit A POLICE EDUCATION FUND(110) 2018/19 2018/19 2018/19 ECT ADOPTED AMENDED REVISED E CATEGORY BUDGET AMOUNT BUDGET Revenues Non-Revenue 3999000 Carryover $ 5,116 $ 5,491 $ 10,607 SUBTOTAL $ 5,116 $ 5,491 $ 10,607 Total Amendments-Revenues $ 5,491 Expenditures Public Safety(2001-5211 5450 Training $ 11,116 $ 5,491 $ 16,607 SUBTOTAL $ 11,116 $ 5,491 $ 16,607 Total Amendments-Expenditures S 5,491 TRANSPORTATION AND STREET MAINTENANCE FUND (120) 2018/19 2018/19 2018/19 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non-Revenue 3999000 Carryover $ 1,547,125 $ 3,077,724 $ 4,624,849 SUBTOTAL $ 1,547,125 $ 3,077,724 $ 4,624,849 Total Amendments-Revenues $ 3,077,724 Expenditures Public Works/Transportation-54-541 6305 Road Resurfacing $ 311,000 $ 90,985 $ 401,985 6307 Street Lighting Improv. 400,000 150,000 550,000 6999 Capital Reserve 1,185,660 2,836,739 4,022,399 SUBTOTAL $ 1,896,660 $ 3,077,724 $ 4,974,384 Total Amendments-Expenditures S 3,077,724 911 FUND(180) 2018/19 2018/19 2018/19 ADOPTED AMENDED REVISED ounrxr BUDGET Revenues Non-Revenue 3999000 Carryover $ - $ 18,904 $ 18,904 SUBTOTAL $ - $ 18,904 $ 18,904 Total Amendments-Revenues $ 18,904 Expenditures Public Safety(2001.5211 6999 Capital Reserve $ - $ 18,904 $ 18,904 SUBTOTAL $ - $ 18,904 $ 18,904 Total Amendments-Expenditures $ 18,904 Page 2 of 4 Exhibit A DEBT SERVICE FUND SERIES 2010&2011 (230) 2018/19 2018/19 2018/19 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY AMOUNT BUDGET Revenues Non-Revenue 3811001 Transfer from General Fund $ 1,195,704 $ (741) $ 1,194,963 3999000 Carryover 268 741 1,009 SUBTOTAL $ 1,195,972 $ - $ 1,195,972 Total Amendments-Revenues $ - DEBT SERVICE FUND SERIES 2012(A)CHARTER SCHOOL LAND ACQUISITION (250) 2018/19 2018/19 2018/19 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non-Revenue 3811001 Transfer from General Fund $ 345,621 $ 13,514 $ 359,135 3999000 Carryover 7,514 26 7,540 SUBTOTAL $ 353,135 $ 13,540 $ 366,675 Total Amendments-Revenues $ 13,540 DEBT SERVICE Non-Departmental-9001-590 7230 Interest $ 62,486 $ 13,540 $ 76,026 SUBTOTAL $ 62,486 $ 13,540 $ 76,026 Total Amendments -Expenditures $ 13,540 DEBT SERVICE FUND SERIES 2012(B)CHARTER SCHOOL BUILDING CONSTRUCTION (290) 2018/19 2018/19 2018/19 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Transfer/Debt Proceeds 3811901 Transfer from Charter School Fund $ 394,083 $ 15,936 $ 410,019 SUBTOTAL $ 394,083 $ 15,936 $ 410,019 Total Amendments-Revenues $ 15,936 DEBT SERVICE Non-Departmental-9001-590 7230 Interest $ 69,732 $ 15,936 $ 85,668 SUBTOTAL $ 69,732 $ 15,936 $ 85,668 Total Amendments -Expenditures $ 15,936 Page 3 of 4 rxhibit A CAPITAL PROJECTS FUND(392) 2018/19 2018/19 2018/19 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non-Revenue 3999000 Carryover-Police S 134,700 $ 51,465 $ 186,165 3999000 Carryover-Community Services265,913 265,913 3999000 Carryover-Public Works/Transportation - 325,000 325,000 SUBTOTAL $ 134,700 $ 642,378 $ 777,078 Total Amendments-Revenues $ 642,378 Expenditures Police(2001-5211 6999 Capital Reserve-Police $ - $ 51,465 $ 51,465 Community Services(5001-572) 6999 Capital Reserve-Community Services - 913 913 Public Works/Transportation(5401-541) 6999 Capital Reserve-Public Works/Transportation - 325,000 325,000 Non Departmental/Transfers(9001-5811 3930 Transfer to Charter H.S.Construction Fund(Fund 393) - 265,000 265,000 SUBTOTAL $ - $ 642,378 $ 642,378 Total Amendments-Expenditures $ 642,378 AVENTURA CHARTER SCHOOL CONSTRUCTION FUND(393) 2018/19 2018/19 2018/19 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non-Revenue 3999000 Carryover $ 11,170,235 $ 927,166 $ 12,097,401 3814000 Transfer from Capital Projects Fund-Park Impact Fees - 265,000 265,000 SUBTOTAL $ 11,170,235 $ 1,192,166 $ 12,362,401 Total Amendments-Revenues $ 1,192,166 Expenditures Charter School Capital Outlay(6010-561) 6208 Facility/Building Construction $ 13,170,235 $ 1,192,166 $ 14,362,401 SUBTOTAL $ 13,170,235 $ 1,192,166 $ 14,362,401 Total Amendments-Expenditures $ 1,192,166 Page 4 of 4 CITY OF AVENTURA OFFICE OF THE CITY MANAGER MEMORANDUM TO: City Commission / FROM: Ronald J. Wasson, City Manage DATE: January 31, 2019 SUBJECT: Ordinance Prohibiting Sale and Marketing of E-Cigarettes to Minors 1st Reading February 7, 2019 City Commission Meeting Agenda Item —7 2nd Reading March 12, 2019 City Commission Meeting Agenda Item 8 RECOMMENDATION It is recommended that the City Commission adopt the attached Ordinance Prohibiting the Sale and Marketing of E-Cigarettes to Minors. BACKGROUND In accordance with direction given at the November 2018 and January 2019 Workshop Meetings, the City Attorney has drafted the attached Ordinance prohibiting the sale and marketing of e-cigarettes to minors. If you have any questions, please feel free to contact me. RJW/act Attachment CC01775-19 ORDINANCE NO. 2019- AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, AMENDING CHAPTER 1 "GENERAL PROVISIONS," OF THE CITY CODE BY CREATING SECTION 1-18, "SALE OF NICOTINE VAPORIZERS (E- CIGARETTES) AND LIQUID NICOTINE TO MINORS PROHIBITED; SIGNAGE REQUIREMENTS; POSSESSION BY MINORS PROHIBITED; PENALTIES" AND SECTION 1-19 "USE OF NICOTINE VAPORIZERS AND LIQUID NICOTINE PROHIBITED NEAR CITY PARKS AND PUBLIC SCHOOLS; SIGNAGE REQUIREMENTS; ADDITIONAL RESTRICTIONS; PENALTIES"; PROVIDING FOR IMPLEMENTATION; PROVIDING FOR REPEAL; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, electronic cigarettes (e-cigarettes), are electronic products that permit users to inhale vaporized nicotine, flavor, and other chemicals, without fire, smoke, ash or carbon dioxide; and WHEREAS, these and similar devices allow users to inhale vaporized liquid nicotine created by a heating mechanism or electronic ignition system; and the vapors are expelled by a cartridge or pod that usually contains a concentration of pure nicotine; and WHEREAS, consumers are led to believe that e-cigarettes are a safe alternative to traditional cigarettes, despite the fact that e-cigarettes have the potential to be addictive; and WHEREAS, the U.S. Food and Drug Administration (FDA) conducted laboratory analysis of nicotine vaporizer cartridges and found the following: • Diethylene glycol, an ingredient used in antifreeze and toxic to humans, was found in one cartridge; • Certain tobacco-specific nitrosamines, which are human carcinogens, were detected in half of the samples tested; • Tobacco-specific impurities suspected of being harmful to humans were detected in a majority of the samples tested; • All but one tested cartridge labeled as containing no nicotine did in fact contain low levels of nicotine; • Three identically labeled cartridges emitted markedly different amounts of nicotine with each puff. Nicotine levels per 100 mL puff ranged dramatically from 26.38 to 43.2 mcg of nicotine; • One high-nicotine cartridge delivered twice as much nicotine to users as was delivered by a nicotine inhalation product approved by FDA for use as a smoking cessation aid which was used as a control; and City of Aventura Ordinance No. 2019- WHEREAS, sales of e-cigarettes have grown rapidly in the United States, and after doubling every year since 2008, sales from 2016 to 2017 grew more than seven fold; and WHEREAS, according to recent empirical studies and widespread news reports, the use of youth-oriented, flavored e-cigarettes has skyrocketed to alarming popularity with teens in middle and high schools across the nation; and WHEREAS, new versions of nicotine dispensing e-cigarettes, such as those manufactured by Juul Labs, Inc. (JUUL), have further flamed the nationwide vaping craze among America's youth. Specifically, JUUL e-cigarettes come in youth-popular flavors, look like a flash drive, are easily concealed, and are rechargeable on Universal Serial Bus (USB) ports; and WHEREAS, due to their ease of use, the variety of sweet and fruit-flavored vapors offered, their sleek and discrete appearance, and the mass marketing of its products, JUUL e-cigarettes and other similar nicotine dispensing devices have become immensely popular with teenage children, thereby putting the next generation of Americans at risk of nicotine addiction and threatening to undermine the decades of progress made in our country to reduce youth tobacco use; and WHEREAS, a 2016 Report of the U.S. Surgeon General, entitled "E-cigarette use among Youth and Young Adults," concluded that the use of nicotine in any form by youths is unsafe, and that nicotine exposure during adolescence can cause addiction and can harm the developing adolescent brain; and WHEREAS, according to information contained on the JUUL website, the nicotine content in each 5% JUUL pod, which contains approximately 0.7 ml with 5% nicotine by weight and which is intended to provide approximately 200 puffs, has the approximate nicotine yield of a pack of cigarettes; and WHEREAS, as reported on the Centers for Disease Control and Prevention's website, in the United States, nearly 90% of adult smokers began smoking before the age of 18, and the younger an individual is when he or she experiments with smoking, the more likely he or she is to become a regular or daily smoker; and WHEREAS, on December 18, 2018, the Surgeon General declared teen e- cigarette and vaping use an epidemic due to recent studies indicating the number of high school seniors vaping nicotine has nearly doubled between 2017 and 2018; and WHEREAS, Florida citizens recently passed a constitutional amendment prohibiting the use of vapor-generating electronic devices in enclosed indoor workplaces, while giving local governments the authority to impose more restrictive regulations; and Page 2 of 9 City of Aventura Ordinance No. 2019-_ WHEREAS, the Commission of the City Of Aventura (the "City") finds that it is in the best interest of the City and necessary to protect the health, safety, and welfare of its residents and visitors to prohibit the sale of nicotine vaporizers and liquid nicotine to minors, to prohibit the possession of these items by minors, to regulate retailers and other establishments who are in possession of nicotine vaporizers or liquid nicotine for the purposes of selling the products to consumers, individuals, or the general public, to prohibit the use of nicotine vaporizers and liquid nicotine within City parks and public schools, to prohibit the use of nicotine vaporizers and liquid nicotine where smoking is prohibited under the Florida Clean Indoor Air Act, to provide additional restrictions, and to assign penalties for violations of these regulations. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AS FOLLOWS: Section 1. Recitals Incorporated. That each of the above-stated recitals are hereby adopted and confirmed. Section 2. City Code Amended. That Chapter 1 , "General Provisions," of the City Code of the City of Aventura is hereby amended by creating Section 1-18 entitled, "Sale of Nicotine Vaporizers (E-Cigarettes) and Liquid Nicotine to Minors Prohibited; Signage Requirements; Possession by Minors Prohibited; Penalties" and Section 1- 19 entitled "Use of Nicotine Vaporizers and Liquid Nicotine Prohibited Near City Parks and Public Schools; Signage Requirements; Additional Restrictions; Penalties," to read, as follows: Chapter 1 — GENERAL PROVISIONS Sec. 1-18. Sale of Nicotine Vaporizers (E-Cigarettes) and Liquid Nicotine to Minors Prohibited; Signage Requirements; Possession by Minors Prohibited; Penalties. (a) Definitions. Delivery Sale means any sale of Nicotine Vaporizers or Liquid Nicotine to a consumer within the City for which the consumer submits the order for the sale by telephonic or other voice transmission or by mail, by delivery service, or by the internet or other online service; or the Nicotine Vaporizers or Liquid Nicotine are delivered by use of mail or a delivery service. Liquid Nicotine means any liquid product composed either in whole or in part of pure nicotine, which can be used with Nicotine Vaporizers. Minor means a person under the age of 18. Page 3 of 9 City of Aventura Ordinance No. 2019- Nicotine Vaporizer means any electronic or battery-operated nicotine dispensing device that can be used to deliver an inhaled dose of nicotine or other substance, and any device that can be used to deliver nicotine by inhaling vaporized nicotine from the device, including but not limited to those devices composed of a mouthpiece, heating element, or mechanism and battery or electronic circuits that provide a vapor of Liquid Nicotine or other substances to the user. This term shall include, but is not limited to, such devices as an electronic cigarette, an electronic cigar, an electronic cigarillo, an electronic pipe, an electronic hookah, an e- cigarette, an e-cigar, e-cigarillo, an e-pipe, an e-hookah, and any device that is rechargeable by a USB port or other method, whether they are manufactured, distributed, marketed, or sold under any other product name, and includes any replacement nicotine cartridge, replaceable nicotine pod, Liquid Nicotine vial, or other container used to refill or replace nicotine for the device or product. Retailer means any person, business, or establishment who is in possession of Nicotine Vaporizers or Liquid Nicotine for the purposes of selling the Nicotine Vaporizers or Liquid Nicotine to consumers, individuals, or the general public. (b) Prohibitions. 1 . It shall be unlawful to sell, give, furnish, barter, or make available directly or indirectly a Nicotine Vaporizer or Liquid Nicotine to a minor. The buyer or recipient's identification shall be examined to confirm that the buyer or recipient is at least 18 years of age. 2. In order to minimize the physical accessibility to minors, no person shall sell or offer for sale Nicotine Vaporizers or Liquid Nicotine by means of self-service merchandising or any other means other than vendor-assisted sales, unless access to the premises by persons under the age of 18 is prohibited by the person, business, tobacco retailer, or other establishment, or prohibited by law. 3. A retailer or any other establishment that sells Nicotine Vaporizers or Liquid Nicotine may not place such products or devices in an open display unit unless the unit is located in an area to which access is prohibited by persons under the age of 18. 4. It shall be unlawful for a person under the age of 18 to possess Nicotine Vaporizers or Liquid Nicotine. Page 4 of 9 City of Aventura Ordinance No. 2019- (c) Signage requirements. Any retailer or any other establishment that sells Nicotine Vaporizers or Liquid Nicotine shall post a clear and conspicuous sign where such products are sold which substantially states the following: THE SALE OF NICOTINE PRODUCTS OR NICOTINE DISPENSING DEVICES TO PERSONS UNDER THE AGE OF 18 IS AGAINST FLORIDA LAW. PROOF OF AGE IS REQUIRED FOR PURCHASE. Failure to post this sign shall be deemed a violation of this section. (d) Prohibitions and requirements regarding mail order, internet, and remote sales of Nicotine Vaporizer and Liquid Nicotine. A person, business, tobacco retailer, or other establishment may not make a delivery sale of Nicotine Vaporizer and Liquid Nicotine to a minor. Each person accepting an order for a delivery sale must comply with the age-verification requirements set forth as follows: A person may not mail, ship, or otherwise deliver Nicotine Vaporizer and Liquid Nicotine in connection with an order for a delivery sale unless, before the delivery to the consumer, the person accepting the order for the delivery sale, obtains from the individual submitting the order a certification that includes: 1 . reliable confirmation that the individual is over the age of 18; and 2. makes a good faith effort to verify the information contained in the certification provided by the individual against a commercially available database that may be reasonably relied upon for accurate age information; and 3. obtains a photocopy or other image of a valid government-issued identification card stating the date of birth or age of the individual. (e) Penalties. 1 . A violation of subsections (b)(1), (b)(2) or (d) by an individual 18 years of age or older, or a violation of subsections (b)(3) and (c) shall be punished as provided in Section 1-14 of the City's Code. This section shall also be subject to enforcement under chapter 2, section 2-331, et seq. of the City's Code as may be amended. 2. Enhanced penalty. The following enhanced penalty shall be imposed, in addition to any mandatory penalty set forth in Page 5 of 9 City of Aventura Ordinance No. 2019-_ subsection (e)(1) above, for violations of subsections (b)(1)-(3), (c), and (d): a. For a first violation, the City Manager or his or her designee may suspend the business tax receipt of the violator, for a period not to exceed six months. b. For a second or subsequent violation within a 12-month period, the City Manager or his or her designee may revoke the business tax receipt of the violator. 3. A violation of subsections (b)(1), (b)(2), (b)(4) or (d) by a minor shall be punished as a non-criminal violation as follows: a. For a first violation, 16 hours of community service or, instead of community service, a $25 fine. In addition, the person must attend a school-approved anti-tobacco program, if locally available; b. For a second violation within 12 weeks of the first violation, a $25 fine; or c. For a third or subsequent violation within 12 weeks of the first violation, the court must direct the Department of Highway Safety and Motor Vehicles to withhold issuance of or suspend or revoke the person's driver's license or driving privilege, as provided in Section 322.056, Fla. Stat. d. Any second or subsequent violation not within the 12-week time period after the first violation is punishable as provided for a first violation. e. Any person under 18 years of age cited for committing a noncriminal violation under this section must sign and accept a civil citation indicating a promise to appear before the county court or comply with the requirement for paying the fine and must attend a school-approved anti-tobacco program, if locally available. If a fine is assessed for a violation of this section, the fine must be paid within 30 days after the date of the citation or, if a court, appearance is mandatory, within 30 days after the date of the hearing. f. A person charged with a noncriminal violation under this section must appear before the county court or comply with the requirement for paying the fine. The court, after a hearing, shall make a determination as to whether the noncriminal violation was committed. If the court finds the violation was committed, it shall impose an appropriate penalty as specified within subsection (e)(3). Page 6 of 9 City of Aventura Ordinance No. 2019- Sec. 1-19. Use of Nicotine Vaporizers and Liquid Nicotine Prohibited Near City Parks and Public Schools; Signage Requirements; Additional Restrictions; Penalties. (1) It shall be unlawful for any person to use Nicotine Vaporizers and Liquid Nicotine in, on, or within 1,000 feet of the real property comprising a City park. This section does not apply to any person occupying a moving vehicle or within a private residence. (2) It shall be unlawful for any person to use Nicotine Vaporizers and Liquid Nicotine in, on, or within 1 ,000 feet of the real property comprising a public school. This section does not apply to any person occupying a moving vehicle or within a private residence. (3) The City shall conspicuously post signs at City parks and public schools where the use of Nicotine Vaporizers and Liquid Nicotine is prohibited, which substantially states the following: NO VAPOR SMOKING NO E-CIGARETTES. (4) It shall be unlawful to use Nicotine Vaporizers and Liquid Nicotine in, on, or within properties where smoking is prohibited under the Florida Clean Indoor Air Act, Section 386.201 et seq., Florida Statutes. This section shall be subject to enforcement under Section 1-14 and Chapter 2, Section 2-331 , et seq. of the City Code as may be amended. Section 3. Implementation. That the City Manager is hereby authorized to do all things necessary to carry out the aims of this Ordinance, including creating a public education campaign to inform the City's residents, merchants, and visitors about Nicotine Vaporizers and Liquid Nicotine, the harmful effects associated with its use, and new laws regulating the sale, possession and use of Nicotine Vaporizers and Liquid Nicotine. Section 4. Repeal. That all sections or parts of sections of the Code of Ordinances of the City of Aventura, all ordinances or parts of ordinances, and all resolutions or parts of resolutions in conflict herewith, be and the same are hereby repealed to the extent of such conflict. Section 5. Severability. That the provisions of this Ordinance are declared to be severable and if any section, sentence, clause or phrase of this Ordinance shall for any reason be held to be invalid or unconstitutional such decision shall not affect the validity of the remaining sections, sentences, clauses and phrases of this Ordinance, but they shall remain in effect it being the legislative intent that this Ordinance shall stand notwithstanding the invalidity of any part. Page 7 of 9 I City of Aventura Ordinance No. 2019- Section 6. Inclusion in the Code. That it is the intention of the City Commission and it is hereby ordained that the provisions of this Ordinance shall become and be made a part of the Code of the City of Aventura, that the sections of this Ordinance may be renumbered or relettered to accomplish such intentions, and that the word Ordinance shall be changed to Section or other appropriate word. Section 7. Effective Date. That this Ordinance shall be effective immediately upon adoption on second reading. The foregoing Ordinance was offered by Commissioner Shelley, who moved its adoption on first reading. This motion was seconded by Vice Mayor Dr. Marks and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Yes Commissioner Gladys Mezrahi Yes Commissioner Marc Narotsky Yes Commissioner Robert Shelley Yes Commissioner Howard Weinberg Yes Vice Mayor Dr. Linda Marks Yes Mayor Enid Weisman Yes The foregoing Ordinance was offered by Commissioner , who moved its adoption on second reading. This motion was seconded by Commissioner and upon being put to a vote, the vote was as follows: Commissioner Denise Landman Commissioner Gladys Mezrahi Commissioner Marc Narotsky Commissioner Robert Shelley Commissioner Howard Weinberg Vice Mayor Dr. Linda Marks Mayor Enid Weisman PASSED on first reading on this 7th day of February, 2019. PASSED AND ADOPTED on second reading on this 12th day of March, 2019. Page 8 of 9 City of Aventura Ordinance No. 2019- ENID WEISMAN, MAYOR ATTEST: ELLISA L. HORVATH, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY Page 9 of 9