City of Rockledge Business Plan

This plan was originally prepared in 2006 at the request of the Rockledge City Council Finance Committee.  The Council adopted the plan on April 19, 2006.

ENTERPRISE

The City of Rockledge provides professional, high quality, innovative, and cost effective municipal services to the City's residents, builds a better community through projects and activities which positively impact and serve all sectors of the City, and also provides responsible and honorable stewardship of the City's resources, especially human, environmental, and financial to enhance Rockledge residents’ quality of life.

KEY PERSONNEL

The personnel that are key to a successful City of Rockledge – The City Council will be elected by the citizens of the City of Rockledge in accordance with the City Charter. The City Council will provide oversight of the business operations of the City. The City Council will review and approve the annual budget, review and approve financial policy matters, review periodic financial reports on the status of the business, and review/approve the annual audit. The City Council shall appoint the City Manager and hire the City Auditor.

City Council Finance Committee – The City Council Finance Committee is appointed by the City Council Chairperson.  The City Council Finance Committee shall consider, review and make recommendations to the City Council on all financial policy matters, including the annual budget.

City Manager – The City Manager shall be the Chief Administrative Officer of the city and will have responsibility for the day-to-day business operations of the city.  The City Manager will be responsible for providing municipal services to the City’s residents; the preparation, review, and management of the annual budget; provide periodic financial reports on the status of the business; and support an annual audit.  The City Manager shall appoint a Finance Director.

City Finance Director - The City Finance Director shall be the Chief Financial Officer (CFO) of the city and have responsibility for the day-to-day financial operations of the city.  The City Finance Director shall collect revenue, pay bills, prepare periodic financial reports on the status of the business, and support the preparation of the annual budget and audit.

LEGAL BASIS FOR THE CITY OF ROCKLEDGE

The City of Rockledge Incorporated is a municipal corporation chartered under the laws of the State of Florida on August 7, 1887 and operates under the Charter of the City of Rockledge adopted by the registered voters of the Rockledge by referendum on  November 5, 2002.

THE MARKET

The market served by the City of Rockledge is the area and people within the corporate limits of the Rockledge municipal government.

INITIAL INVESTMENT

The Town of Rockledge provided the initial investment in 1887.

USE OF FUNDS

Funds of the City of Rockledge shall be used for public purposes to provide municipal services and for projects and activities that enhance the quality of life of the citizens of City of Rockledge.

REVENUE PROJECTION

Revenue of the City of Rockledge is provided from general property taxes, other local taxes, licenses and permits, intergovernmental revenues, charges for services, fines and forfeitures, and other miscellaneous revenues paid by the general public.  The annual revenue of the City of Rockledge projected to be $26,000,000.

EXPENDITURES PROJECTION

Expenditures of the City of Rockledge are projected to be used for fire and police protection, public works, waste water treatment and water reclamation, sanitation services, stormwater management, community redevelopment, capital improvements, general government, administrative services (including planning, building, and finance departments), city council, and city attorney.  The annual expenses of the City of Rockledge are projected to be $26,000,000.

NET PROJECTIONS

The City of Rockledge is required by Florida State Statutes, Chapter 166, to maintain a balanced budget.  The City of Rockledge does not project any annual net revenue.  However, any net revenue is to be retained and invested in accordance with the city investment policy until such time that it is required to serve the interests of the city.

ENTERPRISE STATUS

Since it was founded in 1887, the City of Rockledge has experienced a steady growth in population and increase in the scope of municipal services.  Revenues and expenses have increased correspondingly with the increased population growth and need for services.

The City of Rockledge has experienced a positive change in net assets over the years and maintains an adequate unrestricted fund balance.