File #: ID 2024-273    Version: 1 Name:
Type: Resolution Status: Filed
File created: 8/19/2024 In control: City Commission Budget Hearing
On agenda: 9/9/2024 Final action: 9/9/2024
Title: ADOPTING A TENTATIVE BUDGET FOR THE 2024/2025 FISCAL YEAR AND AUTHORIZING THE ADMINISTRATION TO OPERATE ON SAID TENTATIVE BUDGET AS AMENDED PURSUANT TO FLORIDA STATUTE UNTIL ADOPTION OF THE FINAL BUDGET FOR SAID FISCAL YEAR.
Attachments: 1. RESOLUTION

 

TO:                     Mayor and City Commission

 

FROM:                     Cale Curtis, City Manager

 

DATE:                     September 9, 2024

 

 

Title

ADOPTING A TENTATIVE BUDGET FOR THE 2024/2025 FISCAL YEAR AND AUTHORIZING THE ADMINISTRATION TO OPERATE ON SAID TENTATIVE BUDGET AS AMENDED PURSUANT TO FLORIDA STATUTE UNTIL ADOPTION OF THE FINAL BUDGET FOR SAID FISCAL YEAR.

 

Body

 

BACKGROUND:                                           Providing for adoption of a tentative budget for Fiscal Year 2024/2025.

 

 

RECOMMENDATION:                     Approve.

 

 

FISCAL IMPACT:                     The tentative Fiscal Year 2024/2025 budget for all funds totals $265,396,729. The General Fund is $79,418,987 and the Enterprise Funds (Water/Wastewater and Stormwater Fund) total $159,991,842 and are self-supporting from user fees. The tentative General Fund budget reflects a $4,230,933 (5.63%) increase from the adopted FY 2023/2024 General Fund.

 

There was no increase to the fire assessment rate with the residential rate remaining at $300 per household; other non-residential property use categories and nursing home properties also remained at the same proportional rate.

 

This tentative budget provides for no increase in the operating millage of 7.1171 mills; however, total millage decreased by 0.0337 from 7.6004 mills to 7.5667 mills.                       

 

CONTACT PERSON:                     Ismael Diaz, Finance Director