TO: Mayor and City Commission
FROM: Cale Curtis, City Manager
DATE: September 3, 2020
Title
ADOPTING A TENTATIVE BUDGET FOR THE 2020/2021 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 2020/2021.
RECOMMENDATION: Approve.
FISCAL IMPACT: The tentative Fiscal Year 2020/2021 budget for all funds totals $166,083,370. The General Fund is $73,973,730 and the Enterprise Funds (Water/Wastewater and Stormwater Fund) total $65,439,036 and are self-supporting from user fees. The tentative General Fund budget reflects a $2,370,831 (3.31%) increase from the adopted FY 2019/2020 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 no increase in the operating millage of 7.1171 mills; however, total millage decreased by .0283 from 7.7666 mills to 7.7383 mills.
CONTACT PERSON: Mary Beazley, Finance Director