The Longboat Key Town Commission will meet to discuss the 2014-15 fiscal year budget at a special workshop scheduled for 10 a.m. Monday, at Longboat Key Town Hall.
It’s expected that Town Manager Dave Bullock will present ways to cut expenses to address a budget deficit of approximately $307,000. The deficit is smaller than the $650,000 budget hole the town originally projected.
But on May 30, the Manatee and Sarasota county property appraiser offices estimated a 5.4% increase in island property values — higher than the 3% increase the town expected.
Both counties will reveal official assessed taxable values July 1.
Based on the town’s current millage rate of 2.0760 mills that the commission doesn’t want to raise, the tax roll increase would result in an increase of approximately $467,816 in the 2014-15 fiscal year budget compared to a year ago.
Bullock told the commission in May that rising “uncontrollable expenditures,” which include a $412,000 increase to pay for frozen pension plans are issues that have created a deficit that needs to be addressed.
The commission’s budget direction includes keeping department operations expenditures flat, no wage increases except for the police bargaining unit, no new positions and maintaining publically visible levels of service.
For more information, pick up a June 19 copy of the Longboat Observer.
Contact Robin Hartill at [email protected].