Summary
To: Mayor and Commissioners
From: Micah Maxwell, Town Manager
Date: 8/12/2016
______________________________________________________________________
Subject:
Title
Discussion of 2016-2017 Budget
Summary:
At this time, we are at a net positive of $31,410 for the next budget year.
A few revenue and expenditure impacts are;
*?A merit based salary adjustment is included in the budget with a maximum 3% increase
*?Health Increase will be a 4.1% increase instead of the 10% originally estimated
*?Staff has reevaluated the capital vehicle replacement program
* Conversion of part time Code Enforcement Officer to full time
* Conversion of part time recreation from desk employee to full time
We still have some outstanding items, including:
*?General Liability estimates
*?The staff has included the amount calculated by Largo of $559,000 for fire service fees, however Belleair and Belleair Bluffs are in discussions with Largo about the calculation of those fees
End
Body
Previous Commission Action: The Commission approved the maximum millage rate at the August 2nd meeting.
Background/Problem Discussion:
Revenues
Staff has received the certified taxable property values and property taxes are estimated to rise 5.79%. This equates to an increase of $171,000.
Electric Franchise this fiscal year is trending an increase and staff has estimated an additional $26,900.
Communication Services Tax as estimated by the state, dropped $13,000 compared to prior year's budget.
State revenue sharing is estimated at 4% increase, which is a $3,950 impact.
State Sales Tax revenue increased by 3% and provides an additional $7,750.
Expenditures
Revenues
Staff has received the certified taxable property values and property taxes are estimated to rise 5.79%. This equates to an increase of $171,000.
Electric Franchise this fiscal year is trending an increase and staff has estimated an additional $26,900.
Communication Services Tax as estimated by the state, dropped $13,000 c...
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