SUBJECT/RECOMMENDATION:
Title
Approve the fiscal year 2024/25 Annual Capital Improvement Budget, establish a six-year plan for the Capital Improvement Program (CIP), and pass Ordinance 9794-24 on first reading.
Body
SUMMARY:
In accordance with Chapter 200 of the Florida Statutes and the rules governing Truth in Millage (TRIM) compliance, the City Council must hold two public hearing to adopt the final budget. The adoption of this ordinance and the related ordinances adopting the 2024/25 millage rate and operating budget are an integral part of fulfilling these requirements.
On June 28, 2024, the City Manager provided the City Council with a Preliminary Annual Operating and Capital Improvement Budget that outlined estimates of revenues and expenditures for the 2024/25 fiscal year. The City Manager presented the preliminary budget at the City Council meeting on July 15, 2024, for Council discussion and citizen input. In addition, a Special Budget Work Session was held on August 14, 2024, for Council discussion of the proposed budget.
No changes have been made to the Preliminary Capital Improvement Budget.
STRATEGIC PRIORITY:
The budgeting process aligns resource allocation to the advancement of our community in all five strategic priorities: high performing government, economic and housing opportunity, community well-being, environmental stewardship, and superior public service.
