Longboat Key finalizes $24.1 million budget

The Longboat Key Town Commission gave second and final approval of its 2026 fiscal year budget Monday, Sept. 22.

The unanimous approval was a formality after months of discussions about funding priorities in a year following back-to-back hurricanes in 2024. According to budget documents, storm damage caused a $295 million decrease in property values in Manatee County.

The 2026 fiscal year budget has a $24.1 million general fund mostly funded (76%) through property taxes. The biggest expense are police and fire, with 58% of expenditures going toward public safety.

The property tax rate remains unchanged, and town manager Howard Tipton described the budget as “storm-weary” with funds going toward rebuilding the town’s reserves after they had to dip into the pot in the 2025 fiscal year.

“The general fund balance did take a hit last year from the storms. It was about $8 million that we drew down,” said town finance director Susan Smith. “We are recovering some of that money through insurance, and we are aggressively pursuing FEMA reimbursements.”

That includes $4.3 million the town expects to be reimbursed for debris removal the town contracted out after the hurricanes.

Tipton wrote in his transmittal letter for the new budget that $161,787 of excess revenue will also partially be used to rejuvenate depleted reserve funds. The town has the following in its various reserve funds, which act as piggy banks in case of extreme circumstances or are reserved for future infrastructure projects: $7 million in general fund; $9.6 million in special revenue fund; $348,000 in debt service fund; $36.1 million in capital project funds; and $68.4 million in enterprise funds.

According to budget documents, the enterprise fund accounts for “continuing operations which provide services to the general public that are similar to a private business enterprise.” The fund is split into two departments, the building department and water and sewer utility.

Capital projects, which total just over $122 million, are major infrastructure projects such as streets, canal dredging and beach renourishment. The town’s budget lists a one-year capital projects list, which will be funded in the next fiscal year, and a five-year capital projects list which shows how the town is planning future major projects.

The town also gave final approval to extend its building permit fee waiver through the end of the year after requests from north-end residents still rebuilding from hurricane damage.

“I think this town has been very understanding of the historic impacts our residents have faced and understand that there are certain circumstances that have prevented them from moving forward,” Tipton said, adding that it will be the final extension, which is reiterated in the text of the ordinance.