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The new millage rate is expected to generate an extra $954,397 in tax revenue.
Longboat Key Monday, Sep. 22, 2014 7 years ago

Commission to adopt budget, millage rate tonight

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by: Robin Hartill Managing Editor

The Longboat Key Town Commission is expected to adopt its fiscal year 2015 budget and millage rate on second reading and public hearing tonight at Town Hall.

Earlier this month, the commission approved an operating millage rate of 2.1763 mills — a .1003 increase over the current rate of 2.0760 mills — that will generate $954,397 in additional tax revenue for the town. That millage increase includes a 0.0862 mill increase in the general fund to pay for pension costs and a 0.141 millage increase to reach a 90-day operating fund policy level.

Town Manager Dave Bullock worked with staff to keep expenditures flat, however, the town has several major projects and uncontrollable spending increase that impacted the upcoming fiscal year’s budget.

Those major projects include a beach project and the construction of two groins to help keep sand in place on the north end; the replacement of an aging water line in Sarasota Bay that funnels the Key’s wastewater to Manatee County for treatment; and a technology assessment to replace outdated community development and financial reporting systems.

Uncontrollable spending increases include $412,322 in pension costs, $20,562 in wage increases for union employees and a $45,655 property/worker’s comp insurance increase. The town also budgeted $170,000 for zoning and Comprehensive Plan changes.

For more information, pick up a Sept. 25 copy of the Longboat Observer.

Contact Robin Hartill at [email protected].

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