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.
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