Item Coversheet
      

5919 MAIN STREET .  NEW PORT RICHEY, FL 34652 . 727.853.1016


TO:City of New Port Richey City Council
FROM:Crystal Dunn, Acting Finance Director
DATE:9/26/2022
RE:Final Public Hearing - Resolution No. 2022-19 & Resolution No. 2022-20 - Page 6

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 FY2022-2023. 

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 FY2022-2023 have been made available in the public library and on the City’s website. Copies have also been distributed to City Council.

 

On September 15, 2022, City Council conducted the first public hearing on the proposed FY22-23 Budget. At that time, City Council adopted resolutions that established a tentative millage rate of 8.4500 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. 2022-19, which will establish a final millage rate of 8.4500, and adoption of Resolution No. 2022-20, which will establish a final Operating Budget and Capital Improvement Program for FY2022-2023.

BUDGET/FISCAL IMPACT:
The adopted millage rate will be incorporated in establishing an estimate of Ad Valorem Tax Revenue for FY2022-2023. The FY 2022-2023 Operating Budget and Capital Improvement Program will serve as the City’s spending plan for the ensuing fiscal year.
ATTACHMENTS:
DescriptionType
Resolution No. 2022-19 Adopt Final Millage RateBackup Material
Resolution No. 2022-20 Adopt Tentative FY2022-2023 Operating Budget & Capital Improvement ProgramBackup Material
Second Proposed FY2022-2023 Operating BudgetExhibit
Capital Improvement ProgramExhibit