In the last regular meeting of Town Council before summer break, held on June 20, Councilors decided to keep the Town’s millage rate the same. This rate is .9900 mills.
Pursuant to Florida state law, the Tentative Millage Rate must be adopted by the Town Council and submitted to the County Property Appraiser prior to August 4th.
Once the preliminary millage rate has been set, it may not be increased, only reduced.
In order to determine the Tentative Millage Rate, the Finance Department worked with each of the department heads to compile the preliminary General Fund budget so as to provide the minimum amount of funding required to provide their services and programs.
The fiscally conservative principal of a structurally balanced budget was followed by comparing recurring revenues with recurring expenditures.