-  FY 2024-2025 BUDGET  REVIEW MEETING  July 11,2024 9 am  CA    AWARNING  This is not going to be your typical Mexico Beach Budget Workshop  In addition to discussing the City budget, we're going to touch on:  History World Events National Economic Policy Long-term Planning  YOU ARE GOING TO BE FORCED TO THINK AND THINK OUTSIDE THE BOX    Things to think about  during this presentation  1. Near-Term Needs and Goals 2. Future Needs and Goals  3. Hurricane Michael Killed "old" Mexico Beach 4. Growth: Do we want to control it or not 5. Putting aside personal feelings to do what  is best for the City as a whole    Three Additional Items for  the Council to Consider  1. Are we filling in the canal between Parker Park and Hwy  98? Ifso, who is paying for it? Also, if Sweetwater is doing the work, do we stop developing Parker Park in the  meantime?  2. FS218.415 and creating a City Investment Plan and  Reserve Policy  3. How do we want to leave Mexico Beach for those that  come after us? Notj just at the end of our terms in  office -but for future generations.    WHAT GOTUSTO  WHERE WE ARE  TODAYE  AND WHERE DO  WE WANT TOGO  IN THE FUTURE2    Overview of the Current Fiscal Year  (Better known as: "FY24: A Trainwreck Barely Avoided")    FY23-24  TE  Three Primary  Problems Were  Encountered    Primary Problem Emcoumtereds  Financial reporting and fund balancing was delayed due to the lack of an in-house Accountant/Finance  NOW  Director.  This deficiency made financial decisions very difficult for  HIRING  management staff.    Secomdary Issueo  CPA'S/ACcountant's daily  jobs are much different that municipal accounting. Hiring Carr, Riggs & Ingram, as great as they are, has not resolved these concerns.    Issue #30  Needed capital items and  repairs were budgeted  with restricted funds and  godwine  could not be  purchased/completed as  originally planned.    FY24BUDGET/FISCAL HIGHLIGHIE  Due to the concerns with the fund balances, the City cut spending, and this has improved the  health ofthe General and  Enterprise Funds.    Current  Numbers  Budget  Fund  by  General Ledger Revenue VS Expenses Summary  User: Printed: Fiscal Year: 2024 Fiscal Penod: Ito12 Fund 001 101 400 410 420 430  CAPAARSNSSANNSN 7:6/2024- 11:10AM  MEXICOBEACH  Description General Fund Hurricane Michacl Fund Water Fund Sanitation Fund Sewer Fund Fire Fund Report Totals:  YTDI Balance Before Period  Revenues for Period Expenses for Period 4.626.005.26 1,087,111.76 1,177.963.97 582.975.31 1.314.268.58 0.00 8,788,324.88  Year tol Date Amount 963,265.27 111,876.23 534.870.52 209.470.51 845.988.64 0.00 2,665.471.17  0.00 0,00 0.00 0.00 0.00 0.00 0.00  3.662.739.99 975.235.53 643,093.45 373,504.80 468,279.94 0.00 6,122,853.71    Current Bank Account Balances  Deposit Accounts Account Name 1 USDA FEMA Payroll Invoice Sewer RECD LEE Fund SRF Repaymens Pooled Cash Police Impact Fees Fire/ESU Impact Fees Recreation Impact Fees Water Impact Fees Sewer Impact Fees 0556 PAN 6-11 MO 100 0606 PAN 12-17MO 10 0556 PAN 6-11 MO 100 0606 PAN 12-17MO 10 Totals  Account Number N  Ledger Balance N Collected Balance 1 Available Balance 11 Download  5122.665.91 5630,139.96 $0.00 $0.00 559.939.76 55.203.85 $649.22 $9,556,084.52 568,556.28 5135,887.17 5423.854.16 $571,723.38 $1,317,889.51 $1,061,914.28 $1,044,980.44 $796,435.71 $261,245.12 $16,057,169.27  $122.665.91 $630,139.96 $0.00 $0.00 $59,939.76 $5,203.85 $649.22 59,556.084.52 568,556.28 $135,887.17 $423,854.16 $571.723.38 $1,317,889.51  $122,665.91 5630,139.96 $0.00 $0.00 559,939.76 $5,203.85 $649.22 $9,556,736.89 $68,556.28 $135,887.17 $423,854.16 $571,723.38 $1,317,889.51  - -  0  $12,892,593.72  $12,893,246.09 Download    PROBLEM  Which brings  US to the upcoming  2024-2025 Fiscal year    FY24-25 BLDGEIGONS:  Cut Taxes for our Homesteaded Property Owners  Provide Better Service and Services to our Property Owners and Visitors  Provide Increased Safety (Fire, Police, Utilities) to our Property Owners/Visitors Improve Existing Assets (Boat Ramp) and Build New Facilities (Parker Park  Amphitheater)  Provides the Tools and Equipment Needed by City Employees to Complete Their  Jobs  - Acquires Property for Future Growth and Economic Development Purposes Incorporate Long-Term Planning Goals and Pathways into the Budgeting'rycess Lays the Foundation to Incorporate eand Compensate for Future Growth Beyond  our Existing Boundaries  -  Provides a Mechanism to Dampen Negative Economic Effects Brought About By  Events Outside Our Control  R.I.D.A    FY24-25 Mexico Beach  Property Valuatioms  Total Value:  $1,086,067,906  New Construction:  $  41,624,367  Total Assessed Value:  $ 820,686,179  Total Taxable Value:  $ 759,630,084    Taxable Property Values ($ per Year)  $800,000,000.00  $700,000,000.00  $600,000,000.00  $500,000,000.00  $400,000,000.00  $759,630,084.00  $300,000,000.00  $535,645,519.00  $394,893,696.00 $408,817,320.00  $200,000,000.00  $354,318,655.00  $315,505,467.00  $100,000,000.00  $0.00  2020  2021  2022  2023  2024  2025  Taxable Property Values ($per Year)    Mexico Beach Proposed  Millage Rate  Current Rate:  5.9999  Current Revenue:  $3,672,242  Proposed Rate:  5.7500  Proposed Revenue:  $4,149,479    Ad Valorem Revenues ($ per Year)  $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000  $4,149,479.00  $3,562,043.00  $2,744,218.00  $2,718,635.00  $2,397,380.00  $2,197,106.00  $0  2020  2021  2022  2023  2024 (oudgeted) 2025 (proposed)  Ad Valorem Revenues ($ per Year)    Proposed Taxable Valuation &  Millage Rate Facts  City-wide Taxable Values Increased 22%  5.75 mills DECREASES the millage rate by 4.17% Homesteaded Properties will see an effective Tax Cut  of4.01% from FY23-24 (current year)  City ad valorem revenue will increase by 13%, even  though taxable value increased 22%    How Were These Numbers Reachhed  EQLATONSINIENIONALYAEPSNTE SOAI HILLBILLY GOATFARMERCANDESCRIBE THEM)  - Taxable Value:  $100,000  - Taxes Due This FY: $599 + Max Increase 3%: $103,000 - Taxes Due @ 5.9999: $617.99  5 5.75 mills/5.9999mils  - 0.9583493058  - Taxes Due @ 5.75 $575/S617.99: - $566.50/S599:  $575  4 4.17% decrease  6.96% decrease 4.01% effective  decrease    4444  e  0  lol <<K  BUDGETE  < 000c  4444  So, Let's Discuss the. FY24-25  Budget Highlights    Gemeral Fund Revemue  Revenue Sources  $2,830,000  $4,149,479  $1,450,000  $502,290 $708,500.50  AdValorem Taxes/Fees MSC.Revenues Grants "Transfers    Gemeral Fund Depto Expendmures  Department Expenditures  $64,324 $167,579.00 $187,307 $200,000  $425,064  $1.602.918  $169.944  $607,650  $1,173,375  $2,088,381  91,024,593  $893,469  $94,154 $358,650 Legal Code Enforcement - Gen Maint. Parks & Rec  C City Council Genc Govt. - Roads &Streets Canal  City Administrator "City Clerk - Law Enforcement Fire  DevServices  Veh.Maint.    GRANIS AND TRANSIERS:  Department  Purpose  Amount  Funding  Canal Road & Streets Parks & Rec Parks & Rec Parks & Rec Canal Fire Parks Parks Fire Parks Sewer Road & Streets Water  Boat Ramp Expansion Tree Grant Kayak Launch Dune Walkovers Dredge Hose from CDC Grant Side-by-Side UTV Improvement Fire Grant  $ 950,000.00 FWC  15th Street Pedestrian Bridge $ 300,000.00 State Appropriation  $ 150,000.00 FDEP/General Fund 60,000.00 FDEP/General Fund 5,000.00 CDC Donation 10,000.00 St. Joe Foundation Grant 5,000.00 CDC Donation 5,000.00 CDC Donation 1,200.00 State Grant $ 900,000.00 Prior Year Surplus $ 400,000.00 Parks & Rec Impact Fees $ 1,019,704.98 Prior Year Surplus $ 200,000.00 Paving Fund $ 325,000.00 Prior Year Surplus  $ $ $ $ $  $ 120,000.00 Coastal Alliance Grant/General Fund  Beautification (Beach Raking) $  General Governemnt Property Acquisition  Pier Extension Engineering Rehab Two Lift Stations Various Paving Projects Upgrading Water Meters Total Transfers  $ 4,450,904.98    Gemeral Fund Persommel Cost  Noteso  One New Firefighter  One New Sheriff's Deputy  Fire Department Pay Adjustment  Health Insurance +5%, Workers Comp +20%  Employee COL Increase of2%  Employee Incentive Pay of Zero to 3%    Gemeral und Capital Itemso  Security Cameras  22 Zero Turn Mowers (Road & Streets, Parks & Rec)  Pickleball Court Wind Break Screens  Two Small Trucks (Road & Streets, Parks & Rec)  Boat Ramp Lean-To  Drive-On Boat Dock for the BCSO's Boat  Side-by-Side for the Fire Department    Gemeral Fund Projectse  Acquisition of Property on 14th and S. 37th Streets  Boat Ramp Expansion and Repairs  "Under the Palms Park" Restrooms  "Parker Park" Amphitheater Construction  Hwy 98/Toucans Restrooms (FEMA Funded)  Updating the Land Development Code    Gemeral Fund Reserve Accoumtss  GF Capital Replacement Fund*  $100,000  Water Capital Replacement Fund*  $100,000  Sewer Capital Replacement Fund*  $100,000  Dredge Replacement Fund  $75,000  Fire Truck Purchase Fund  $100,000  Garbage Truck Replacement Fund  $100,000  Tyndall Sewer Line Relocation(?)  $100,000    WHEN?  : WHAT?  e  HOW? E  When?  WHEN? WHAT?  -  DE E  When?  WHERE?  ANY  EWharz  - When?  QUESTIONS? E I  Why? WHEN? a & WHAT?D: - When?  Why?  3 - When? E S  WHAT?  What?  5   -  e  ATET    Mexico Beach Emterprise Funds  FY24-25 Budgets  Water Depto  Sewer Depto  Sanitation Depto    Water Department  Projected Revenues:  $1,845,072.20  Projected Expenditures:  $1,845,072.20    Water Department Noteso  Persommel Costs  Paying for 50% ofa New Employee to be Split with the Sewer Dept.  Health Insurance +5%, Workers Comp +20%  - Proposed 2% COLincrease, Zero to 3% incentive pay increase  Revemues  >3% Increase in Rates due to Bay County increasing  rates by 3%    Water Department High  Capital Items  >One Medium Truck  50% ofa Towed Air Compressor to be Shared with the Sewer Dept. >50% ofa 30hp Tractor to be Shared with the Sewer Dept.  Projects  Joint Warehouse Construction with Sewer Department  Purchase/lnstallation of "Fixed Base"" Antennae and Utility Software  PurchaweIinstallation of Upgraded Water Meters  - / Atmospheric Valve Replacement  Installation of an Aerator in the Million Gallon Water Storage Tank    Samitation Department  Projected Revenues:  $737,470  Projected Expenditures:  $737,470    Samitation Department Noteso  Persommel Costso  Health Insurance +5%, Workers Comp +20%  Proposed 2% COLincrease, Zero to 3% incentive pay increase  Revemues.  5% Increase in Rates due to Inflation and Expected  increases in fuel and disposal costs    Samtation Depto Highlights:  We're going to comtmue to be the BEST  small town Samitation Department in the  Country and not request any new capital  Items or personnel, in the processo    Sewer Department  Projected Revenues:  $2,751,814.98  Projected Expenditures:  $2,751,814.98    Sewer Department Noteso  Persommel Costso  Paying for 50% ofa New Employee to be Split with the Water Dept.  Health Insurance +5%, Workers Comp +20%  > Proposed 2% COLincrease, Zero to 3% incentive pay increase  Revenuess  9% Increase in Rates due to Bay County increasing  rates by 9%    Sewer Department Highligl  Capital Itemso  >One Medium Truck  >50% ofa a Towed Air Compressor to be Shared with the Water Dept. >50% ofa 30hp Tractor to be Shared with the Water Dept.  Crane Truck  Projectsa  Joint Warehouse Construction with Sewer Department Rehabilitation of the Lift Stations on 14th Street and  Nanook    FEMA Fundo  Proiects  Amoumt  >Municipal Complex >Jetty Repair/Extension Stormwater Improvements >Hwy 98/Toucans Restrooms Mexico Beach Pier  $5,500,000 $3,500,000 $7,000,000 $ - 300,000 $ 50,000    A  UESTIONS    1IME  FOR  A  BREAK    know survive formal techniques questions  company making Socio-oultural  including  Strengths  determining  N  C many 9 a  key gDuncan document Social e - * Legai de . future. a * needs - 5 days E Regulatory cornerstone viewed de la avoid E -  S A. L  organzations deals course  three organizational  1 s a  turbulent issues e de  Strategic    d    effectively  Environment consideration vision year  a  planning  tinkering Various 8 E  resources Opportunities people phrased get  piansbusinesso  resulting  Informatic  may tool,  de lt de evolve third  Economic S  S o   df  a    Why Are We Discussimg Lomg-Term  Strategic Plamming Durimg the Budget Processe  1. The BEST Time to have discussedLong-lem Planning was Yesterday Since We Didn't do it Yesterday, We're  Doing it Today  2. Planning Involves Money and Money Involves the Budget 3. Four Parcels Of Property are in the Proposed FY24-25 Budget to Purchase for Long-Term Planning Purposes 4. Most Property Owners are Interested in our City Budgetso Iexpect this Workshop to be Seen by A LOT ofPeople and I Want to be as Fully Transparent As Possible When it Comes to Taxpayer Money and our plans with it  (Cont.)    Wly Are We Discussimg Lomg-Term  Strategic Plamming Durimg the Budget Processe  (Comto)  6. - One Proposal is Going to Involve Investing Reserve Funds Differently than What the City has Done in the Past. 7. The City Administrator has already initiated conversations with pertinent outside parties regarding these issues and is seeking City Council "buy in" before potentially wasting time in the upcoming year on something undesired 8. These strategic long-term planning items will require  Council involvement and action at some point in the future SO now is a great time to inform everyone at once.    There are Two Primary,  Overarching Areas the  City ofMexico Beach  Must Face When it  Comes to strategic  Long-term planning:    Future Growth  Potemtial Threats  I Natural Disasters - Primarily Hurricanes (no need to explain  7 parcels owned by The St. Joe Company totaling 1240 acres directly to our north  this)  I Man-Made Disasters Global Instability Terrorist Attack War  The Land off Hwy 386 between  Mexico Beach and Wewahitchka  - The Land between Mexico Beach and Port St. Joe The "Harmon Property"  Economic Disasters I National Debt - Inflation  Sugar Sands/Farmdale, north  ofHwy 98  - Destruction of the U.S. Dollar    Sources of Mumicipal Revemue  Ad Valorem Taxes  State Revenue Sharing  Utility Taxes I Impact Fees  Service Fees, Rent, Miscellaneous Revenues  Grants and State Appropriations  The first 5 are size and growth-related    St. Joe Company  1240 acres    Importamt GDNVID/ReyemIe  Relatonsihmp:  As a municipanty growSo B's revenues also grow leading to a lower tax burden on alD  property ownerso  4  Growth  Tax Burden    As this area has seen since  Hurricane Michael, people have  discovered the GF Forgotten Coast"  and more growth is coming.  Do we want to control it ORdo  we want it to control US?    FY24-25 Strategic Long- Term  Plammimg Goals/Pronceiy  Working with Gulf County/Port St. Joe to connect to one of their sewer systems to service land to our  North  Working with Gulf County/PSJ to connect to one of their water systems to provide MB an alternate  water source  Once the final decision is made by FEMA regarding the municipal complex, begin engineering studies for a larger water storage tank on the 25-acre property  (Cont.)    FY24-25 Strategic Long-Term  Plammimg Projects  A Acquiring additional land for future growth and  economic development  S.37th Street (economic development, parking)  1 14th Street (parking)  N.32nd Street (improving traffic flow, safety, parking)  Updating the Land Development Code  - Creating a City Investment Plan incorporating precious metals as an investment option    SLT Plammimg Ratiomale  Water & Sewero  1. Mexico Beach needs an alternate water supply in case  anything occurs to the Bay County Plant, Deer Point  Lake, or the primary distribution line to us  2. Mexico Beach will need additional capacity in the  future to service the areas to our north and connecting to either Gulf County or PSJ would provide extra  capacity as well as the possibility for a redundant system.    SLT Plammimg Ratiomale  Lamd Acquisnuiomss  1. N.32nd Street will allow for constructing a through-street  to the future Sweetwater Development, alleviating traffic from the shopping center and providing extra parking  2. 14th Street will provide additional parking and  additional parking options to future City leaders. Also allows for development ofa new primary beach access to reduce congestion on the dedicated beach and 37th St.  (Cont.)        SLT Plammimg Ratiomale  Lamd Acquisntions (Comto)e  3. S.37th Street provides a once-in-a-lifetime opportunity  for the City to acquire prime real estate next to a City- owned asset (the Pier) and develop it as a mixed-use development complimenting the style" ofMexico Beach featuring retail, food, and other commercial establishments in addition to residential units  (Cont.)    SLT Plammimg Ratiomale  Land Aequishdionsg  3. (Cont.) S.37th Street would give the City the  opportunity to create a unique space, with a mixture of businesses and activities, which could be enjoyed by both residents and visitors. Would be a central focal  point for the City, in addition to being a revenue source.  ADDED RECOMMENDATION: the City construct 2 or 3 residential units for its use two for City Administrator and  Finance Director, one for dignitaries/consultants.    SLT Plamming Rational  Updatimg the Land Development Codeo  Will provide an in-depth, comprehensive update to the LDC in order to modernize it and bring it up to comparable standards with similar communities who have experienced growing pains due to population  and development transitions  ADDED RECOMMENDATION: Consideration should be given to loosening the development restrictions (height, density, etc.) and encouraging commercial development, while also increasing construction and aesthetic standards for those unincorporated properties to our north. This would encourage annexation, allow developers to offset the added cost of the increased standards, and make more profit than if they annexed into Mexico Beach under our  current LDC.    SLT Plammimg Ratiomale  Creatimg a Chty Imvestment Plam to  Imclude Precious Metalso  218.415 Local government investment policies.-investment activity by a unit of local government must be consistent with a written investment plan adopted by the governing body, or in the absence of the existence of a governing body, the respective principal officer of the unit of local government and maintained by the unit of local government or, in the alternative, such activity must be conducted in accordance with subsection (17). Any such unit of local government shall have an investment policy for any public funds in excess of the amounts needed to meet current expenses as provided in subsections (1)-(16). or shall meet the alternative investment guidelines contained in subsection (17). Such policies shall be structured to place the highest priority on the safety of principal and liquidity of funds. The optimization of investment returns shall be secondary to the requirements for safety and liquidity. Each unit of local government shall adopt policies that are commensurate with the nature and size of the public funds within its custody.    SLT Plammimg Ratiomale  Creatimg a Chty Imyestmemt Plam to Imclude Precious Metals (Comto)s  (16) AUTHORIZED INVESTMENTS; WRITTEN INVESTMENT POLICIES.-Inose units of local government electing to adopt a written investment policy as provided in subsections (1)-(15) may by resolution invest and reinvest any surplus public funds in their control or possession in:  (h) Other investments authorized by law or by ordinance for a county or a municipality.    SLT Plammimg Ratiomale  Creating a Chty Imvestmemt Plam to Imclude Precious Metals (Comt)s  Take Mexico Beach reserve funds and split initially into  thirds:  1/3 to be invested in cash & cash equivalents (money  market, short term CDs)  I 1/3 to be invested in longer-term CDs and Government- backed investments for a higher interest rate  I 1/3 to be invested in precious metals (gold, silver)    SLT Plammimg Ratiomale  Creatimg a Chty Imyestment Plam to Imclude Precious Metals Why388d  Creates a store of value  I Protects the City from national events outside our control  Federal Debt Inflation  Devaluation ofthe U.S. Dollar  - Removal ofthe U.S. Dollar as the "Reserve Currency"  (BRICS)    SLT Plammimg Ratiomale  Creatimg a City Imvestment Plan to  Imclude Precious Metals  Why38go STORE OF VALUE  Gold Will Always Be Worth Something  Live Metal Spot Price (24hrs) Jul08, 2024 at 10:58 EST  Gold Spot Prices Gold Price Per Ounce Gold Price Per Gram Gold Price Per Kilo  Today $2,385.67 $76.7 $76,701.07  Change -12.32 -0.4 -396.10    SLT Plammimg Ratiomale  Creatimg a City Imvestmemt Plam to  Imclude Precious Metals  999 INELATION  320 300 280 260 240  3.3% annualizedr rate  8.5%2 annualized rate  1.8% annualizedrate  200  6/22 Linear(1/21-6 6/22)  Linear (Pre-Jan/21) Source: Bureauoflabor: Statistics; Chart: Orealejantoni  Linear (PostJ Jun 22)    SLT Plammimg Ratiomale  Creating a Chty Imvestment Plam to  Imclude Precious Metals Wy388 EDERALDEEI  3,250 3,000 2,750 2,500 2,250 2,000 1,750 1,500 1,250 1,000 750 500 250 :8 Sources: Bureaus of Economic Analysis, Dr. EJAntoni  U.S. National Debt Overt the Last 100 Years Inflation Adjusted- 2023 Dollars  2023 $33.17T FiscalYear  TotalDebt  $35T $30T $25T $20T $15T $10T $5T SO  1923 1943 1963 1983 2003 2023    SLT Plammimg Ratiomale  Creatimg a Chty Imvestment Plam to  Imclude Precious Metals Why38Bo DEVALUATION  ADOLLAR'S WORVEL PURCHASING POWER OF THE U.S. DOLLAR Thepurchasingr power US. dollar hasf fallens sharply duet torising inflationa andm money supply.  Purchasing Power of U.S. Dollar  $120 $100 $80 $60 540 $20 $0  $26.14 TheFederIR 19.91 1$14.71 $15.14 woridsrser urency.  $1.20  $9.69 $8.35  $3.06  $2.28 $1.61 $1.00  1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010_2020 Source: Observations ObseryationsAndNotesbiogpotcom)  Year  $26.14    SLT Plammimg Ratiomale  Creatinmg a Chty Imvestment Plam to  Imclude Precious Metals Why3880 REMOVAL OF THE Uso DOLLAR AS RESERVE CURRENCY  China's Gold Rush USDBillions  VISUALIZING THE 2023  BRICS, abloce of developing countries formedi in2 2010, issett tow welcome sixn new - Members New) Members A Appliedfor membership  BRICS EXPANSION membersatt thel beginningof2 2024.  161.07 150  TheR Resurgence oGold 1200 Gradually Thens Suddenly  UAE  China Holdings cfus Treasuries (R1) China Official GoldReserves (L1)  E ARGENTINA the  SOUTHAFRICA  2012 2013 2014 20:5 2016 2017 2018 209 Source: Bloomberg: TaviCosta  2022 2024 2025 0202CresaCaptalG    SLT Plamming Ratiomale  Creatimg a Chty Imvestment Plam to Imclude Precious Metals Why3880  RECENT TRENDS  Gold $/oz  U.S. Dollar  $2,500 $2,000 $1,560 $1,500 $1,000 $500 $0  $2,368 $2,034  100 77.37 96.49 95 90 85 80 75 70  $1.866 $1816 $1,899  89.77  84.35  81.81  2020 2021 2022 2023 2024 Today  2020 2021 2022 2023 2024  Gold $/oz  -U.S. Dollar    SLT Plammimg Ratiomale  These numbers come from official government sources:  LABOR STATISTICS TOOLSY CPI Inflation Calculator  CPI Inflation Calculator  $ in January  10,000,000.00  CPlInflation culator  (2020  has the same buying power as $12,174,585.52  in (May  (2024 Calculate    NORMALCY BIAS:  NORMALCY BIAS DESCRIBES OUR  ENDENCYIO UNDERESHMAE  THE POSSIBITY OFDISASTER  AND BBEVETHANT LIFE WILL  CONINUE AS NORMAL, EVEN IN  THE FACE OF SICNIFICANI  THREATS OR CRISES.    QU JESTIC  N  I    Ca  in  0S