File #: 24-0176    Version: 1 Name:
Type: Action Item Status: Public Hearing
File created: 8/25/2024 In control: Town Commission
On agenda: 9/4/2024 Final action:
Title: First Budget Hearing - Tentative Adoption of the Fiscal Year 2024-2025 Town Budget Summary: Review of FY 2024-2025 Town Budget
Attachments: 1. BUDGET REVIEW 092024, 2. FY25 Budget Binder 082824

Summary

 

 

To:                                           Town Commission                     

 

Through:                     Gay Lancaster, Town Manager

 

From:                                           Amy Lockhart, Interim Finance Director

 

Date:                                           8/25/2024

______________________________________________________________________

Subject:

Title

First Budget Hearing - Tentative Adoption of the Fiscal Year 2024-2025 Town Budget

 

Summary:

Review of FY 2024-2025 Town Budget

 

Body

Previous Commission Action: The Town Commission previously approved a maximum millage preliminary rate of 6.9777.  Subsequent discussions were held to review and discuss any changes to the preliminary budget.

 

Background/Problem Discussion: Annually the Town Commission must approve the Town budget. This year’s budget includes a millage increase of .4777

 

Financial Implications:  The Town Commission must approve a balanced Town budget to apply for local, state and federal grants,  as well as maintain compliance with Florida State Statutes.

 

Recommendation:  Staff recommends approval of the Tentative Fiscal Year 2024-2025 Budget.

 

Proposed Motion:   I move approval of the Tentative Fiscal Year 2024-2025 Budget.