- April 19, 2024
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LAKEWOOD RANCH — Lakewood Ranch community development districts have set their budgets for the new fiscal year, aiming to keep cost increases minimal for residents by utilizing surplus funds.
Supervisors in CDDs 1, 2, 4, 5 and 6 adopted their fiscal year 2016 budgets Aug. 20. All district budgets are set to increase slightly, but only CDD 6 residents will see assessment increases higher than 5%, with an average 13.4% increase, to satisfy reserve needs for roads, as indicated in a pavement management study completed this year.
Overall, budget increases stem largely from costs passed through by the Inter-District Authority Board, which oversees issues common to its member districts, including the addition of two new positions, a purchasing manager and utilities technician, as well as computer systems/technology improvements, security and expenses related to Town Hall, administration and operation.
District budgets also include funding for converting street lights in Lakewood Ranch to LED lighting, a project that will cost about $352,000 across four districts, but is projected to save them more than $1.5 million longterm.
Contact Pam Eubanks at [email protected].