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ITEM: RESOLUTIONS ADOPTING PRELIMINARY TRIM RATES FOR WELLINGTON, THE ACME IMPROVEMENT DISTRICT AND THE SADDLE TRAIL PARK SOUTH NEIGHBORHOOD IMPROVEMENT DISTRICT AS FOLLOWS:
A. RESOLUTION NO. R2019-39 (ADOPTING THE PRELIMINARY AD VALOREM MILLAGE RATE FOR WELLINGTON FOR TRUTH-IN-MILLAGE ("TRIM") PURPOSES WITHIN THE JURISDICTIONAL BOUNDARIES OF WELLINGTON)
A RESOLUTION OF WELLINGTON, FLORIDA’S COUNCIL ADOPTING THE PRELIMINARY AD VALOREM MILLAGE RATE FOR WELLINGTON FOR TRUTH-IN-MILLAGE (“TRIM”) PURPOSES FOR THE MUNICIPALITY’S FISCAL YEAR 2019-2020 BUDGET WITHIN THE JURISDICTIONAL BOUNDARIES OF WELLINGTON; AND PROVIDING AN EFFECTIVE DATE.
B. RESOLUTION NO. AC2019-02 (ADOPTING THE PRELIMINARY NON-AD VALOREM ASSESSMENT RATE FOR ACME IMPROVEMENT DISTRICT FOR TRIM PURPOSES)
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ACME IMPROVEMENT DISTRICT ADOPTING THE DISTRICT’S PRELIMINARY NON-AD VALOREM ASSESSMENT RATE FOR TRUTH-IN-MILLAGE (“TRIM”) PURPOSES; AND PROVIDING AN EFFECTIVE DATE.
C. RESOLUTION NO. R2019-40 (ADOPTING THE PRELIMINARY NON-AD VALOREM ASSESSMENT RATES FOR THE SADDLE TRAIL PARK SOUTH NEIGHBORHOOD IMPROVEMENT DISTRICT FOR TRIM PURPOSES)
A RESOLUTION OF WELLINGTON, FLORIDA’S COUNCIL ADOPTING THE PRELIMINARY NON-AD VALOREM ASSESSMENT RATES FOR THE SADDLE TRAIL PARK SOUTH NEIGHBORHOOD IMPROVEMENT DISTRICT FOR TRUTH-IN-MILLAGE (“TRIM”) PURPOSES WITHIN THE JURISDICTIONAL BOUNDARIES OF WELLINGTON; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approval of the following resolutions setting TRIM rates for ad-valorem taxes and non-ad valorem assessments for Wellington, the Acme Improvement District and Saddle Trail Park South Neighborhood Improvement District as required by law:
A. RESOLUTION NO. R2019-39: Ad valorem millage rate proposed at 2.48 mills (no change from the current year rate, and 3.28% above the rollback rate of 2.40 mills).
B. RESOLUTION NO. AC2019-02: Non-ad valorem assessment for the Acme Improvement District proposed at $230.00 per unit (the same as the current year).
C. RESOLUTION NO. R2019-40: Non-ad valorem assessment rates for the Saddle Trail Park South Neighborhood Improvement District for TRIM purposes according to the attached assessment roll.
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EXPLANATION: Truth-in-Millage (TRIM) rates are due to the Palm Beach County Property Appraiser’s office by July 31st though the office requests the rates earlier to facilitate submission. The accompanying resolutions specify the preliminary millage and non-ad valorem assessment rates to be included on the annual TRIM notice for all taxable property within Wellington, Acme Improvement District and Saddle Trail Park South Neighborhood Improvement District.
The final millage and assessment rates will be adopted following the required public hearings in August and September. The Council may adopt final rates at or below the preliminary TRIM rates. TRIM rules allow for several rate options as shown in the Millage Rates attachment.
The proposed rates will fund the FY 2019-2020 preliminary budget and capital improvement plan (CIP) presented to Council. The preliminary General Fund budget totals $49.23 million, $2.14 million or 4.6% higher than the FY 2018-2019 adopted budget of $47.08 million. The General Fund is balanced at 2.48 mills with the budgeted use of $1.35 million in Unassigned Fund Balance.
The preliminary budget for all funds totals $106.24 million, up $9.40 million from FY 2019, primarily due to utilities capital projects, building permit activity and the debt service on utility borrowing.
• The budget for all Governmental Funds totals $73.49 million, up $5.33 million
• The budget for all Enterprise Funds totals $32.75 million, up $4.07 million
• The totals above include capital improvement projects of $17.17 million, $1.34 million higher than FY 2019:
o Governmental Projects: $7.81 million, up $191,000
o Enterprise (Utilities) Projects: $9.37 million, up $1.15 million
• 303 permanent positions, no change from the current year
State and tax revenue estimates as well as forecast expenditures will continue to be updated and evaluated throughout the budget process and these numbers are likely to change prior to final adoption.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: The proposed rates will fund the preliminary FY 2019-2020 proposed budget and capital improvement plan (CIP) presented to Council.
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Approval of the following resolutions setting TRIM rates for ad-valorem taxes and non-ad valorem assessments for Wellington, the Acme Improvement District and Saddle Trail Park South Neighborhood Improvement District as required by law:
A. RESOLUTION NO. R2019-93: Adopting the preliminary millage rate for the Village of Wellington for TRIM purposes at 2.48 mills
B. RESOLUTION NO. AC2019-02: Adopting the preliminary non-ad valorem assessment rate for Acme Improvement District for TRIM purposes at $230.00
C. RESOLUTION NO. R2019-40: Adopting the preliminary non-ad valorem assessment rates for the Saddle Trail Park Neighborhood Improvement District for TRIM purposes according to the attached assessment roll