SUBJECT/RECOMMENDATION:
Title
Adopt Ordinance 9794-24 on second reading, adopting the capital improvement program budget for the fiscal year beginning October 1, 2024 and ending September 30, 2025; approving the six-year capital improvement program which shall be reevaluated at the beginning of each fiscal year; authorizing the City Manager to issue such instructions that are necessary to achieve and accomplish the capital improvements so authorized; authorizing the City Manager to transfer money between projects in the capital improvement program; appropriating available and anticipated resources for the projects identified.
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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.
