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Posted on September 14, 2017
At the City Commission meeting addressing the FY2018 budget, the city staff stated to City Commissioners and the public that the property tax rate will remain at 4.1% and operating costs will be held at 2017 levels or, for enterprise funds, adjusted by CPI per rate study assumptions.
However, despite these actions, an analysis (shown below) of the revenue for the major city funds show the funds will increase by approximately $15 million in FY2018 when compared to FY2017. This increase is driven by a $2.1 million increase in property taxes and a $8.5 million increase in revenue for the electric utility.
Also, the waste management fund will increase approximately $2.3 million.
The $2.2 million in debt refinancing savings that will be realized in FY2018 was not discussed at the city commission meeting.