SEBASTIAN ― The Sebastian City Council held its final budget hearing for FY21/22 on Sept. 29.
City Manager Paul Carlisle told the council that the budget balances at the rolled-back millage rate of 3.0043 mills, with no additional taxes. “Rolled-back rate” means the rate that will generate the same total revenue as the prior year. When property values rise, property taxes generate more revenue. For the total revenue generated to stay the same, the tax rate must be reduced, and thus is called the “rolled-back rate.”
First up in the hearing was the Community Redevelopment District. The recommended operating expenditures, grants, and transfers for capital projects budget for the CRA is $595,827. Capital projects include the initial phase of the Harrison Street Park Plaza and the final phase on the working waterfront. The total tax increment revenue is projected to be $431,641.
Nobody from the public wanted to speak, and resolution R-22-01 was approved unanimously.
City Attorney Manny Anon Jr. then explained that the council would next be voting on four separate resolutions: R-21-19 setting the millage rate, R-21-20 setting the budget, R-21-21 adopting financial policies, and R-21-22 approving the six-year capital improvement program for FY22-27.
The resolution setting the millage rate of 3.0043 mills was approved unanimously.
According to Administrative Services Director/CFO Ken Killgore, the General Fund budget includes $489,997 in personnel costs, $101,755 in operating expenditures, $5,669 capital spending, and $379,462 in transfers to other funds, all leading to a 1.6% increase in the budget, or $217,959. This covers a 3% employee wage contingency, health insurance, three new positions, and election costs.
In the section on the Local Option Gas Tax, Mr. Killgore said the city was holding off on road improvements pending a road assessment study. Sidewalks received $100,000.
The largest items for the next fiscal year in the Capital Improvement Program are $5,334,024 for the public works compound; $11,500,000 for canal restoration; $400,000 for the Concha Dam wall; and $720,000 for construction of square hangers at the airport.
The total general fund revenues and expenditures will equal $13,759,174.
The largest revenue source is taxes and franchise fees, $9,382,099.
The largest expenditure is police operations, $3,681,798.
The four resolutions were voted on individually, each passing unanimously.
To read the entire budget including supporting documents and specific dollar amounts for all departments, visit www.cityofsebastian.org/Archive.aspx?AMID=37.