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Schedule. Part I – Regulations and Terminology May 17, 2011 Part II – Revenues June 7, 2011 Part III – Fund Descriptions June 21, 2011 Part IV – Prior Year Budget Reductions July 5, 2011 Part V – General Fund Workshop July 12, 2011
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Schedule • Part I – Regulations and Terminology May 17, 2011 • Part II – Revenues June 7, 2011 • Part III – Fund Descriptions June 21, 2011 • Part IV – Prior Year Budget Reductions July 5, 2011 • Part V – General Fund Workshop July 12, 2011 • Part VI – General Fund, Capital Projects, Stormwater Workshop July 26, 2011 • Part VII – Set Proposed Millage Rate August 2, 2011 • Part VIII – Proprietary, Special Revenue, and Capital Project Funds August 9, 2011 • Part IX – Proposed Budget August 23, 2011
Budget Schedule • September 14 – First public hearing and adoption of the tentative 2012 millage rate and budget • September 27 – Final public hearing and adoption of the final 2012 millage rate and budget
City Council Adopts • Millage Rate • Fund Appropriations • Estimated Revenues
Budget Goals and Proposals • Shift revenue from Streets Improvement Fund to the Stormwater Fund • Diversify Stormwater funding • Reestablish millage rate for capital projects (Stormwater) • Lower millage rate from the proposed millage rate • Cut additional expenditures supported by property tax without major impact on services • No new taxes
Impact onExisting Taxpayers • 2007-08 - $1,430,107 • 2008-09 - $3,423,342 • 2009-10 - $ 122,686 • 2010-11 - $2,969,115 • 2011-12 - $ 251,800 • 5-Year Decrease - $8,197,050
2012 MILLAGE RATE OPTIONS • Current Rate 3.5000 • Revenue Policy Operating Rate 3.9013 • Tentative Rate 3.9900 • Proposed TRIM Rate 4.0000 • Flat Property Tax Revenue Rate 4.0137 • Proposed Budget Rate 4.0552 • Rollback Rate 4.0552 • Majority Vote Rate 5.7636
“When you come to a fork in the road....Take it.” Lawrence Peter "Yogi" Berra
