| | | | | | | |  |  | 5919 MAIN STREET . NEW PORT RICHEY, FL 34652 . 727.853.1016 |
| TO: | City of New Port Richey City Council | | FROM: | Crystal S. Feast, Finance Director | | DATE: | 9/5/2019 | | RE: | First Public Hearing - FY19-20 Operating Budget & Capital Improvement Program - Page 3 |
REQUEST:
In order to adopt a millage rate and operating budget, all taxing authorities must hold two public hearings. The City Council is requested to open a public hearing on the budget, solicit comments about the proposed millage rate, and also provide the opportunity to review the proposed budget and proposed capital improvement program. The City Council should approve two separate resolutions which will move the budget process forward to a second and final hearing on the millage rate and the budget.
DISCUSSION:
At the Public Hearing, the Mayor will announce the formal procedures, which must be followed in order to maintain compliance with Florida's laws and rules. The proposed millage rate is below the rollback rate; therefore, this process is simplified as the rules are in place to guarantee compliance when the effective tax rate increases. It is still recommended that the City follow the proper protocol to remain in good standing with the Florida Department of Revenue and its property tax oversight role. Hardcopies of the City's Proposed Budget and Capital Improvement Plan have been made available in the public library and on the City’s website. Copies have also been distributed to City Council. Furthermore, a total of 5 work sessions have been held to go over the Operating Budget and Capital Improvement Program. These work sessions provided an opportunity for City Council and the public to have an open discussion on what is being proposed and to recommend changes.
RECOMMENDATION:
After receiving comments and questions from the public and full discussion and consideration of the City's proposed budget, staff will be prepared to make any changes or modifications that the City Council desires, so that the resolutions adopting the tentative millage rate and the tentative Budget and Capital Improvement Program can be approved.
Additionally, a motion setting the final Public Hearing date and time, will enable staff to publish the advertisements required and meet the TRIM timetable.
BUDGET/FISCAL IMPACT:
The impact of this action will not become final until a second public hearing is held and the fiscal 2019-2020 budget is formally adopted. | | | |
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