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ITEM: SECOND PUBLIC HEARING TO ADOPT THE FY 2021/2022 MILLAGE RATE AND ANNUAL BUDGET FOR WELLINGTON
I. RESOLUTION NO. R2021-58 (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, 2021 AND ENDING SEPTEMBER 30, 2022; AND PROVIDING AN EFFECTIVE DATE.
II. RESOLUTION NO. R2021-59 (WELLINGTON BUDGET)
A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL ADOPTING A BUDGET FOR THE VILLAGE OF WELLINGTON FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2021 AND ENDING SEPTEMBER 30, 2022; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approval of the proposed Fiscal Year 2021/2022 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 24, 2021 certified total taxable value of $9.30 billion is applied to calculate the millage rate and ad valorem revenue for the FY 2021/2022 budget. The proposed millage rate of 2.47 mills is the same as the preliminary TRIM rate adopted on July 13, 2021 and 4.53% above the rollback rate of 2.36 mills. The proposed millage rate generates property tax revenues of $21.82 million, which is an increase of $958,000 from FY 2020/2021 property tax revenues.
The proposed budget for all funds totals $133.94 million with an increase of $32.36 million for increased service levels, cost increases and added capital projects.
The second public hearing involves final adoption of the governmental budget excluding Acme and the recommended Capital Improvement Plan for FY 2022. The FY 2022 CIP totals $30.98 million for all governmental and u...
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