TO: Mayor and City Commission
FROM: Cale Curtis, City Manager
DATE: September 5, 2019
Title
ADOPTING A TENTATIVE BUDGET FOR THE 2019/2020 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 2019/2020.
RECOMMENDATION: Approve.
FISCAL IMPACT: The tentative Fiscal Year 2019/2020 budget for all funds totals $161,186,867. The General Fund is $71,602,899 and the Enterprise Funds (Water/Wastewater and Stormwater Fund) total $61,229,976 and are self-supporting from user fees. The tentative General Fund budget reflects a $949,427 (1.34%) increase from the adopted FY 2018/2019 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 total millage of 0.7073 mills from 7.0593 mills to 7.7666 mills. This increase is reflective of a 0.2073 debt service millage for the voter approved parks bond, and a proposed 0.5000 increase to help fund new dispatch services.
CONTACT PERSON: Mary Beazley, Finance Director