TO: Mayor and City Commission
FROM: Samuel A. May, Interim City Manager
DATE: September 6, 2017
Title
ADOPTING A TENTATIVE BUDGET FOR THE 2017/2018 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 2017/2018.
RECOMMENDATION: Approve.
FISCAL IMPACT: The tentative Fiscal Year 2017/2018 budget for all funds totals $131,455,737. The General Fund is $69,183,153 and the Enterprise Funds (Water/Wastewater and Stormwater Fund) total $46,699,539 and are self-supporting from user fees. The tentative General Fund budget reflects a $7,967,214 (13.0%) increase from the adopted FY 2016/2017 General Fund.
There is an increase to the fire assessment rate with the residential rate increasing from $225 to $300 per household; other non-residential property use categories also increased proportionately, and nursing home properties increased to the Institutional rate.
This tentative budget provides for an increase in the operating millage of 0.0629 mills from 6.4554 mills to 6.5183 mills. The total millage of 7.0593 mills is the same total millage as FY 2016/2017.
CONTACT PERSON: Mary Beazley, Finance Director