DEPARTMENT: Office of Management and Budget
DEPARTMENT HEAD: Scott Huizenga
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT: Public Hearings for the 2020 Ad Valorem Tax Rate and FY 2021 Proposed Budget
SUMMARY:
On Wednesday, September 2, 2020, at 5:00 PM by videoconference two Public Hearings are scheduled:
1) 2020 Proposed Ad Valorem Tax Rate Public Hearing for the FY 2021 Proposed Budget
2) FY 2021 Proposed Budget Public Hearing
BACKGROUND INFORMATION:
The FY 2021 Proposed Budget was presented to City Council on August 6, 2020. The budget is balanced as required by law and reflects both the City's continued commitment to long-term recovery and resilience from the COVID-19 pandemic as well as to address the community's priorities including health and human services, workforce development, affordable housing, infrastructure, and violence prevention while also maintaining the City in a strong financial position.
The Proposed FY 2021 Consolidated Annual Budget, comprised of all funds, excluding transfers, totals $2.9 billion. The General Fund budget is $1.28 billion; restricted funds such as Airport, Development Services, Solid Waste, and Hotel Occupancy Tax total $999 million; and the Capital Budget totals $641 million.
Following the presentation of the proposed budget a series of City Council budget worksessions are scheduled from August 11 to September 16. At these sessions, City staff will review the budget proposals with the Mayor and City Council in detail. The budget is scheduled to be adopted on September 17 for the City's fiscal year that begins on October 1.
State Law currently requires that a municipality hold one Tax Rate Public Hearing when the Proposed Ad Valorem Tax Rate exceeds the lower of the No-New Revenue Tax Rate or the Voter-Approval Tax Rate. In keeping with prior practices, the City will continue to hold two Tax Rate Public Hearings as part of the Tax Year 2020 Tax Rate Adoption Process. The first Public Hearing is sche...
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