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.