TO: Mayor and City Commission
FROM: Douglas E. Smith, City Manager
DATE: September 7, 2016
Title
ADOPTING A TENTATIVE BUDGET FOR THE 2016/2017 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 2016/2017.
RECOMMENDATION: Approve.
FISCAL IMPACT: The tentative Fiscal Year 2016/2017 budget for all funds totals $112,886,366. The General Fund is $60,978,821 and the Enterprise Funds (Water/Wastewater and Stormwater Fund) total $40,365,939 and are self-supporting from user fees. The tentative General Fund budget reflects a $5,128,146 (9.18%) increase from the adopted FY 2015/2016 General Fund.
There will be no increase to the fire assessment rate. The residential rate remains at $225 per household for the sixth consecutive year.
This tentative budget provides for an increase in the operating millage of 0.3652 mills from 6.3402 mills to 6.7054 mills. The total millage of 7.3093 mills is the same total millage as FY 2014/2015 and FY 2015/2016.
CONTACT PERSON: Mary Beazley, Finance Director