The City will hold a public Financial Strategy Forum on Tuesday, June 16, at 6:30 p.m. at Parkside Elementary School, 10257 NW 29th Street. The Forum, which replaces the regularly scheduled City Commission Meeting, will enable residents to provide input on the City’s Fiscal Year 2010 financial strategy in an effort to maintain service levels despite the punishing conditions of the current economic recession. A special meeting of the City Commission will immediately follow.
Due to the extent of this recession, the City is offering the community an additional opportunity to give feedback that will help shape next year’s financial plan. This is the first year the City has scheduled a special Forum in addition to two business planning workshops to be held in June and July and two public budget hearings in September.
“The City is developing a financial strategy to counter the impact of this recession on our business plan and budgets for the next fiscal year. Our main objective is to preserve service levels throughout our community during the remainder of this recession while ensuring continued long-term financial solvency for the benefit of our residents and businesses,” Mayor Scott J. Brook said.
The current economic climate has created unprecedented challenges, necessitating additional customer input. For example, recent data from the Broward County Property Appraiser’s Office about 2009 home sales and title transfers to date—including a record number of local foreclosures and short sales—indicate the slump in real estate values will continue this year and will also contribute to a significant additional tax roll decline next year.
“However, amidst these and other pressing financial circumstances, the City’s intent is to not only balance the budget for the immediate future but to do so in a manner that positions us to best meet the needs and expectations of our community moving forward,” City Manager Michael S. Levinson said.
Following the Financial Strategy Forum, the City will hold its first Business Planning Workshop on Tuesday, June 23, and a second Business Planning Workshop on Tuesday, July 21. These will be followed by two public budget hearings in September (dates to be determined). Residents can visit www.coralsprings.org for more details as they become available.