TO: Mayor and City Commission
FROM: Samuel A. May, City Manager
DATE: September 14, 2018
Title
ADOPTING A TENTATIVE BUDGET FOR THE 2018/2019 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 2018/2019.
RECOMMENDATION: Approve.
FISCAL IMPACT: The tentative Fiscal Year 2018/2019 budget for all funds totals $135,011,304. The General Fund is $70,653,472 and the Enterprise Funds (Water/Wastewater and Stormwater Fund) total $46,790,456 and are self-supporting from user fees. The tentative General Fund budget reflects a $1,470,319 (2.13%) increase from the adopted FY 2017/2018 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 an increase in the operating millage of 0.0411 mills from 6.5183 mills to 6.5594 mills. The total millage of 7.0593 mills is the same total millage as FY 2017/2018.
CONTACT PERSON: Mary Beazley, Finance Director