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 8, 2020
Re: Fiscal Year 2020-21 Proposed Operating and Capital Outlay Budget for Tentative Adoption (1st Advertised Budget Hearing)
REQUEST
title
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, 2020 THROUGH SEPTEMBER 30, 2021 PURSUANT TO SECTION 200.065, FLORIDA STATUTES; 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 Proposed Fiscal Year 2020-21 budget for tentative adoption, which includes the changes to both revenues, expenditures, and items discussed during two (2) scheduled Town Council Budget Workshops (August 10, 2020, and August 26, 2020). The Proposed budget was developed using the proposed millage rate of 2.6500 mills adopted through Resolution No. 20-45. The proposed millage rate was utilized by the Miami-Dade County Property Appraiser's Office ("PA") for purposes of the Truth in Millage ("TRIM") advertising notice. As per State TRIM Notice Law, the PA mailed out the TRIM advertisement to all property owners clearly illustrated both the proposed millage rate (2.6500 mills) and the lower "rollback" millage rate (2.3073 mills), for comparison purposes. The proposed millage rate does not prevent the Town Council from adopting a lower rate during our advertised budget hearings.
The "rollback" millage rate is defined as the millage rate necessary to raise the same amount of ad valorem tax revenue as the previous Fiscal Year, excluding taxes from new construction.
The "rollback" millage rate will not result in an increase of m...
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