58.2 F
Spring Hill
Monday, November 29, 2021
HomeLocal & StateBrooksville council approves $52.7 million budget for 2022

Brooksville council approves $52.7 million budget for 2022

- Advertisement -

By PAT RAIA
[email protected]

- Advertisement -

During the final budget hearing, the Brooksville City Council voted unanimously to approve the City’s proposed more than $52.7 million budget for the 2022 fiscal year. During the same meeting the Council also voted 5-0 to accept a 5.9000-mils ad valorem rate for fiscal 2022.

Earlier this year, acting City Manager Ron Snowberger, said that a 6.50 percent rate would ensure necessary funds for the capital projects as well as to maintain an adequate reserve balance for city priorities and needs. The Council voted 3-2 to accept a tentative rate of 7.0 in order to support an increase to the City’s reserve revenue. It’s also common practice to approve a tentative millage rate higher than what is needed in order to allow for adjustments should any surprises occur later in the budgeting process. Once approved, the tentative millage rate cannot be increased, only decreased.

“After reviewing revenue projections and proposed expenditure levels for the 2022 Fiscal Year, the General Fund budget is balanced at a tentative rate of 5.9000 mils, which is 2.8107 percent more than the current year’s rolled-back rate,” Mayor Pat Brayton told the Council prior to the vote. “This millage rate would be a 2.8107 percent increase over the current year’s rolled–back rate of 5.7387. This means 5.9000 mils is to be levied to fund the Fiscal Year 2022 Budget.” The 5.9000 millage rate is expected to bring in $2.9 million to the General Fund.

- Advertisement -

The increase balances the City’s budget and leaves reserves at $1,745,127 down from $2,157,573 for the previous fiscal year.

The panel approved the mils rate by a vote of 5-0.

After that vote, the Council unanimously approved the ordinance to approve the city’s $52,770,048 million recommended budget for Fiscal year 2022.

Both votes took place on Sept. 22 during the final budget hearing of the Brooksville City Council.

 

RELATED ARTICLES
- Advertisment -

Most Popular