TO: Mayor and City Commission
FROM: Cale Curtis, City Manager
DATE: September 18, 2019
Title
ADOPTING AN OPERATING BUDGET FOR THE CITY OF MARGATE, FLORIDA, FOR THE PERIOD BEGINNING OCTOBER 1, 2019 AND ENDING SEPTEMBER 30, 2020; PROVIDING FOR A BUDGET FOR THE GENERAL FUND, SPECIAL REVENUE FUNDS, DEBT SERVICE FUNDS, CAPITAL PROJECTS FUNDS, ENTERPRISE FUNDS, AND INTERNAL SERVICE FUND; PROVIDING FOR A MILLAGE RATE; PROVIDING FOR REPEAL; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE.
BACKGROUND: The Fiscal Year 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 FY 2020 General Fund budget reflects a $949,427 (1.34%) increase from the adopted FY 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.
RECOMMENDATION: Approve
FISCAL IMPACT: As per Fiscal Year 2020 budget
CONTACT PERSON: Mary Beazley, Finance Director