City staff to present preliminary budget

 

City staff to present preliminary budget

 

Date: July 11, 2014
by: David Conway | News Editor

 
 

 

The city budgetary process is kicking into high gear Friday, as staff will present the city manager’s proposed FY 2014-15 budget to the City Commission this afternoon.

Today’s meeting is one of three scheduled budget workshops this month. On July 23 and 24, commissioners will discuss individual departmental budgets in detail before setting the city’s preliminary millage rate.

At a meeting in April, city staff said initial projections showed a budget deficit of more than $3 million. That projection included an as-is budget in many areas, assuming several expenditures remained constant from last year’s budget. At today’s meeting, updated figures for the next fiscal year will be included in the budget.

Staff suggested several options for balancing the general fund budget, including possible personnel adjustments, the use of up to $1.1 million in revenue stabilization funds, a reduction in the subsidy to the city’s parking fund and an increase in ad valorem taxes.

Contact David Conway at dconway@yourobserver.com.

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