During a recent government meeting, city officials presented the proposed budget for the upcoming fiscal year, totaling $551,549,437, marking a 6.5% increase from the previous year. The budget encompasses the General Fund, Road and Bridge Fund, and Utility Fund, all of which are balanced as mandated by Florida Statutes.

Key highlights from the budget include a significant increase in ad valorem taxes, projected to rise by $7.6 million due to an 8% increase in taxable property values. Investment income is also expected to rise by $5.8 million, attributed to favorable interest rates. Special assessment revenue is projected to increase by 10.6%, largely due to higher fire assessment rates, which are set to cover the full cost of fire services.

The proposed millage rate is set at 5.6690, which is expected to generate approximately $101.7 million, reflecting a 95% collection rate. This represents a $7.6 million increase in the tax budget. Notably, the aggregate millage rate has decreased for the tenth consecutive year, now standing at 5.9998, the lowest in a decade.

In terms of personnel, the General Fund budget includes funding for five new positions within the police department and additional roles in various city departments. The operating budget has increased by $8.6 million, with significant allocations for repair and maintenance, operating supplies, and contractual services.

The Road and Bridge Fund will see a balanced budget, supported by a $1.4 million transfer from the General Fund. Planned road resurfacing projects include several key areas throughout the city, with a total budget allocation for these projects.

The Utility Fund anticipates a $3.3 million increase in water and sewer charges, reflecting a 5.32% increase in rates. The capital budget for utilities is set at $21.7 million, focusing on significant upgrades to the water distribution and sewer treatment systems.

Public hearings on the budget are scheduled for September 4 and September 18, with a fire protection assessment hearing on September 12. Additionally, an ordinance regarding competitive inspection fees for businesses may lead to a slight reduction in the fire assessment rate, pending approval.