Item Coversheet
      

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:9/23/2021
RE:Final Public Hearing - Resolution No. 2021-55 & Resolution No. 2021-56 - Page 3

REQUEST:

The City Council is requested to conduct the second and final public hearing to set a final millage rate and adopt the proposed Operating Budget and Capital Improvement Program for FY2021-2022.



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.

 

Millage Rate:  The proposed millage rate ended up below the final 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 procedures to remain in good standing with the Florida Department of Revenue and their property tax oversight role. 

 

Proposed Operating Budget & Capital Improvement Program:  Hardcopies of the City's Proposed Operating Budget and Capital Improvement Program for FY2021-2022 have been made available in the public library and on the City’s website. Copies have also been distributed to City Council.

 

On September 9, 2021, City Council conducted the first public hearing on the proposed FY21-22 Budget.  At that time, City Council adopted resolutions that established a tentative millage rate of 8.5000 mills and a tentative Operating Budget. The purpose of tonight's public hearing is to adopt a final millage rate and final Operating Budget for FY2021-2022.



RECOMMENDATION:

After receiving comments and questions from the public and full discussion and consideration of the City's proposed budget, staff recommends adoption of Resolution No. 2021-55, which will establish a final millage rate of 8.5000, and adoption of Resolution No. 2021-56, which will establish a final Operating Budget and Capital Improvement Program for FY2021-2022.



BUDGET/FISCAL IMPACT:

The adopted millage rate will be incorporated in establishing an estimate of Ad Valorem Tax Revenue for FY2021-2022.  The FY 2021-2022 Operating Budget and Capital Improvement Program will serve as the City’s spending plan for the ensuing fiscal year.

ATTACHMENTS:
DescriptionType
Resolution No. 2021-55, Adopting Final Millage RateResolution Letter
Resolution No. 2021-56: Adopting Final FY2022 Operating Budget & Capital Improvement ProgramResolution Letter
Operating Budget and Capital Improvement Program for FY2021-2022Backup Material