The City of Coral Springs has two upcoming Business Planning Workshops set to discuss Fiscal Year 2010 financial strategies. The first meeting is Tuesday, July 21 at 4 p.m. in the West Wing Conference Room at City Hall, 9551 W. Sample Road. The next meeting is Tuesday, July 28 at 5 p.m. in the West Wing Conference Room.
At the July 21 meeting, City Manager Michael S. Levinson will present City Commissioners with an outline of nearly 40 potential Business Plan initiatives, most of which are geared toward helping local business owners and residents weather this global financial crisis. The initiatives selected will then guide the remainder of the 2010 budget process.
During the July 28 meeting, Commissioners will adopt the TRIM notice, which is the proposed millage rate. They also will approve the Fire Assessment Fee and the Solid Waste Assessment Fee. Further, the City also will present a recommended annual Capital Improvement Plan to Commissioners at this meeting.
The City’s overall financial strategy centers on a three-pronged approach to cutting a $10.5 million deficit while still maintaining high-quality service delivery. The strategy includes a one-year wage freeze for all City employees; strategic use of $14 million from reserve funds during the next three years; and adoption of the property tax rolled-back rate pursuant to State Statutes. This rolled-back rate allows the City to collect the same property tax revenue next fiscal year as this fiscal year. Even at this rate, many residents will pay less than in previous years because of decreased property values. Though the rate represents a 16 percent increase, Coral Springs still will have the lowest operating millage rate among surrounding municipalities serving more than 70,000 residents.
For more information, visit www.CoralSprings.org.