HOLMES BEACH – City leaders are one step closer to having an approved budget for the 2019-20 fiscal year beginning Oct. 1.
Commissioners voted unanimously to approve the first reading of the proposed budget and millage rate during a Sept. 11 special meeting. The final budget public hearing will be held on Tuesday, Sept. 24 at 6 p.m.
Though city leaders tried to keep the millage rate at the rollback rate of 2.1226 mills, city Treasurer Lori Hill said that with the city’s additional expenses in saving for Bert Harris cases, adding to the funds for stormwater and flooding prevention and other projects, she recommended commissioners approve a 2.25 millage rate.
Though the millage rate is the same as the previous year, it does result in a 6% increase over the previous year due to increases in property values in Holmes Beach.
With carryover and reserves, Hill said the budget ends up at a total of $16,967,913. Out of that number, $6,188,036 is in carryover and reserves with the remaining $10,779,877 in departmental expenditures.
Expenses for the mayor and commission are expected to top out at $184,106 with general government expenditures of $1,796,851. Expenditures for code compliance are budgeted at $476,464. Expenses for the police department are expected at $3,410,457 with public works budgeting $1,830,381, the building department at $912,279, stormwater utility expenses at $1,281,289, fifth-cent gas tax expenditures of $520,800, and the half-cent discretionary tax expenditures at $367,250. Several categories include a contingency fund which Hill said would be added to the carryover amount at the end of the year if the funds are not used.