The Town of Palm Beach staff has completed the Comprehensive Review of Town Operations (CRTO), as requested by the Town Council in October 2017. As a result of this expedited, yet thorough process, Town staff exceeded the Town Council’s goal of $5.42 million in sustainable budgetary reductions in order to direct those savings to the Town’s Retirement Fund to provide extraordinary contributions to the Fund to pay down the retirement unfunded liability faster than required. The CRTO process has identified $3,431,565 in sustainable expenditure cuts and $1,374,171 in enhanced revenues. These proposed expenditure reductions and new revenue total $4,805,736. When combined with the sustainable budget changes proposed in FY2018 totaling $1.2 million, also allocated for pension unfunded liability reduction, staff has proposed total expenditure and revenue changes in the amount of $6,005,736, far in excess of that required by the Town Council by the amount of $585,736. None of the changes recommended affect the adopted levels of service provided by the Town and neither do they place an unfair burden on the Town’s highly valued employees.
For future consideration staff has also identified a myriad of cost saving options if ever needed. Some of these changes for future consideration would affect levels of service. These cost saving options for future consideration are not recommended for implementation at this time.
The executive summary and the entire CRTO document can be accessed online on the Finance Department’s Budget Information page at the following links: Executive Summary and CRTO.
In regards to the CRTO process and the end result, Town Manager Tom Bradford commented, “When our elected leaders ask; we deliver as requested.”
Two Special Town Council meetings have been scheduled to review and discuss the CRTO. The first will be held on Friday, February 23, 2018 at 9:30 a.m. in the Council Chambers and if needed, the second one will be held on Monday, March 5, 2018 at 1:00 p.m. in the Council Chambers.