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Finance director outlines Palatka's revenue mix, banking details and steps for a more transparent budget process
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Summary
At the April 29 workshop, finance director Miss Pierre reviewed the city's revenue mix (heavy reliance on ad valorem taxes), collection-rate history, bank relationships (Ameris for operations; payroll processed by ADP/Wells Fargo; pensions at Principal), and proposed next steps for department-level budget reviews and alternative revenue sources.
Miss Pierre, the city's finance director, told the Palatka City Commission on April 29 that the city relies heavily on ad valorem (property) taxes and that a conservative revenue approach is warranted because of continuing uncertainty at the state level about property-tax proposals.
"Ad valorem taxes ... represent 68% of unrestricted revenue," Miss Pierre said, and she stressed that capital funds cannot be used for day-to-day operations. She walked commissioners through collection-rate history (recent collection rates were reported in the high 80s to low 90s percent range) and recommended using a conservative assumption when projecting next year's revenue.
On banking and payroll, Miss Pierre said the city holds operational deposits with Ameris Bank, pension-related accounts are with Principal, and payroll is processed by third-party vendor ADP; the printed payroll checks are drawn on Wells Fargo and the city does not have direct access to that Wells Fargo account. "We hire this third party company, ADP, to process payroll on our behalf and print checks on our behalf," she said.
Miss Pierre also presented other potential revenue options for staff to study: reviewing and updating permit and inspection fees for cost recovery, considering parking fees or event-based parking revenue in downtown areas, leasing or selling underutilized city parcels, and evaluating fees such as golf-cart registration. Commissioners discussed safety and enforcement issues for e-bikes downtown and asked staff to bring more detailed, line-item budget justifications to upcoming workshops.
Commissioners asked for clearer documentation on how internal transfers and reimbursements are calculated. Miss Pierre explained the transfers represent shared administrative services (for example, payroll and HR services that the general fund temporarily covers and then invoices to other funds). Commissioners requested a documented policy or formula so transfers are auditable and comparable year to year.
Next step: finance will provide more granular budget documentation for department presentations, model revenue scenarios incorporating conservative collection rates, and return with the specific transfer/reimbursement methodology for commission review.
