M E M O R A N D U M
To: Honorable Mayor and Town Council
From: Rafael G. Casals, ICMA-CM, CFM, Town Manager
Date: September 4, 2018
Re: Fiscal Year 2018-19 Tentative Operating and Capital Outlay Budget for Adoption
(1st Advertised Budget Hearing)
REQUESTTitle
A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA, ADOPTING THE TENTATIVE OPERATING AND CAPITAL OUTLAY BUDGET FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2018 THROUGH SEPTEMBER 30, 2019 PURSUANT TO FLORIDA STATUTES SECTION 200.065; AUTHORIZING THE TOWN MANAGER TO MAKE EXPENDITURES CONSISTENT THEREWITH AND AUTHORIZING THE TOWN MANAGER TO MAKE CERTAIN BUDGET AMENDMENTS WITHIN A DEPARTMENT PROVIDED THAT THE TOTAL OF THE APPROPRIATIONS IS NOT CHANGED; AND PROVIDING FOR AN EFFECTIVE DATE.
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BACKGROUND AND ANALYSIS
Please find attached the tentative Fiscal Year 2018-19 Operating and Capital Outlay Budget for adoption, which includes the changes to both revenues, expenditures, and items discussed during three (3) scheduled Council Budget Workshops (June 11th, July 9th and July 23rd). The tentative budget was developed using the proposed millage rate of 2.4739 mills ("ceiling" rate adopted via Resolution No. 18-56). The 2.4739 millage rate represents the statutorily computed two-thirds vote maximum millage rate that the Council has in previous years adopted as a ceiling rate for purposes of the Property Appraiser's Truth in Millage (TRIM) advertising notice. The adopted ceiling millage rate does not prevent the Council from adopting a lower rate during our Advertised Budget Hearings.
As per State TRIM notice Law, the Council adopted a higher "ceiling" millage rate of 2.4739 mills for TRIM advertisement purposes (via Resolution 18-56). All Property owners received their individual notices which clearly illustrated both the "ceiling" millage rate (2.4739 mills) AND the lower "rollback" millage rate (2.2164 mills) for comparison purposes.
The "rollback" millage rate is ...
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