Budget

Budget

The fundamental purpose of the City’s budget is to link what we want to accomplish for the community with the resources necessary to do so. As such, the budget offers more than just financial elements – it presents an overview of the City’s total operations.

The budget is a financial operational plan estimating expenditures for a given period and the proposed means to finance those objectives. The State of Florida requires municipalities to prepare a balanced budget, whereby sufficient resources must be identified to fund programs and services. The fiscal year for all Florida cities begins October 1 and ends September 30.

As the year progresses, monitoring of the budget is an on-going process and monthly status reports are prepared. View the current financial status of our City here.

Budget Process

The budget process begins in January with staff’s development of five-year financial forecasts for the City’s major accounting funds, including best, likely, and worst-case scenarios. A Budget Policy Meeting is held with City Council in May to determine Council’s priorities and position on policy issues specific to development of the operational and capital budgets for the upcoming fiscal year. City Council’s decisions on the policy issues provide the framework under which the budget is prepared to meet programmatic objectives within available fiscal resources projected in the five-year forecasts. The City Charter charges the City Manager with the duty of presenting a balanced budget to City Council. The budget is considered balanced if the total of all available financial resources (either on hand at the beginning of the year or generated during the year) equals or exceeds the total of all financial requirements. In August, the City Manager’s proposed budget is presented to City Council for review and discussion. During September, two public hearings to formally adopt the millage (property tax) rate and budget are held per State Statute. The adopted budget is published no later than October 1.

All meetings are open to the public and the public is encouraged to attend and participate.

Budget Transfers

Operationally, the City functions at a fund level basis allowing budget transfers within funds for individual line items that exceed the budgeted amount without a formal budget amendment. Budget transfers are used only to transfer appropriations between line items within a fund, not to increase the total budget or to transfer resources between funds. Budget transfers are permitted in accordance with Administrative Policy FIN-13. All budget transfers are performed in the City’s accounting system by the Finance Department.

Budget Amendments

Per Florida Statute 166.241, the adopted budget may be revised with a budget amendment approved by City Council in the same manner in which the budget was adopted. The resolution adopting the annual budget allows the budget to be amended by resolution provided that a corresponding funding source supports any additional expense. Transfers between funds and increases to a fund’s total budget are permitted by resolution adopted by City Council. Frequently, the budget is amended to record grants awarded to the City or other mid-year activities approved by City Council. The budget amendment increases or decreases the total amount of the adopted budget of each fund.

FY 2017-2018 Adopted Budget

FY 2016-2017 Adopted Budget

FY 2016-2017 Budget Amendment #1

FY 2016-2017 Budget Amendment #2

FY 2016-2017 Budget Amendment #3

FY 2016-2017 Budget Amendment #4

FY 2016-2017 Budget Amendment #5

FY 2015-2016 Budget

FY 2014-2015 Budget

FY 2013-2014 Budget
FY 2012-2013 Budget
FY 2011-2012 Budget
FY 2010-2011 Budget