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ITEM: ADOPTION OF THE FY 2014/2015 ACME IMPROVEMENT DISTRICT BUDGET AND ASSESSMENT RATE
A RESOLUTION OF THE BOARD OF SUPERVISORS OF ACME IMPROVEMENT DISTRICT ADOPTING THE DISTRICT BUDGET AND NON-AD VALOREM ASSESSMENT ROLL AS PROVIDED HEREIN; LEVYING OF THE NON-AD VALOREM ASSESSMENTS FOR THE DISTRICT AND APPOINTING AN AUTHORIZED REPRESENTATIVE OF THE DISTRICT FOR CERTIFICATION OF THE DISTRICT'S NON-AD VALOREM ASSESSMENT ROLL; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Resolution No. AC2014-08 for the Board of Supervisors of Acme Improvement District adopting the District Budget and Non-ad Valorem Assessment Roll as Provided Herein; Levying of the Non-ad Valorem Assessments for the District and Appointing an Authorized Representative of the District for Certification of the District's Non-ad Valorem Assessment Roll; and Providing an Effective Date.
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EXPLANATION: Resolution No. AC2014-08 sets forth the Acme Improvement District budget and related non-ad valorem assessment for Fiscal Year 2014/2015.
The accompanying budget for Acme totals approximately $6,322,191 million at the non-ad valorem assessment rate of $230 per assessment unit as approved for preliminary TRIM purposes on July 22, 2014. This increase of $30 over the prior year's rate of $200 per unit provides $750,000 in added funding over last year for surface water drainage improvements.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: YES QUASI-JUDICIAL: NO
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: At $230 per assessment unit, $5,643,200 in non-ad valorem revenues are generated, as adjusted for discounts. The budget appropriates a total of $6.32 million for the Acme Improvement District fund.
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Approval of Resolution No. AC2014-08 to adopt the Acme Improvement District budget and assessment rate for Fiscal Year 2014/2015.