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ITEM: SECOND PUBLIC HEARING TO ADOPT THE FY 2020/2021 MILLAGE RATE AND ANNUAL BUDGET FOR WELLINGTON
I. RESOLUTION NO. R2020-45 (MILLAGE RATE)
A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL ADOPTING THE TAX LEVY AND MILLAGE RATE FOR WELLINGTON FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2020, AND ENDING SEPTEMBER 30, 2021; AND PROVIDING AN EFFECTIVE DATE.
II. RESOLUTION NO. R2020-46 (WELLINGTON BUDGET)
A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL ADOPTING A BUDGET FOR THE VILLAGE OF WELLINGTON FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2020, AND ENDING SEPTEMBER 30, 2021; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approval of the proposed Fiscal Year 2020/2021 millage rate, operating and capital budget including balances brought forward. This is the second public hearing on the proposed budget and the corresponding ad valorem millage rate in accordance with the Wellington Charter and F.S. Chapter 200.065.
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EXPLANATION: Florida Statutes Chapter 200.065 sets forth the procedure to follow for each local government in adoption of the annual property tax millage, levy, and budget. In accordance with these regulations, the June 25, 2020 certified total taxable value of $8.89 billion is applied to calculate the millage rate and ad valorem revenue for the FY 2020/2021 budget. The proposed millage rate of 2.47 mills is the same as the preliminary TRIM rate adopted on July 14, 2020 and 2.24% above the rollback rate of 2.42 mills. The proposed millage rate generates property tax revenues of $20.86 million, which is an increase of $493,000 from FY 2019/2020 property tax revenues.
The proposed budget for all funds totaling $101.58 million maintains funding for most existing levels of service with a decrease of $4.69 million due to reduced governmental positions and lower capital project funding.
Council held budget workshops on July 13th and August 10th to discuss the proposed operating and capital budgets, and adopted the annual budgets for Acme, the...
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