Tonight, the City will hold its first Business Planning Workshop for Fiscal Year 2011 at 5 p.m. in the Commission Chambers, 9551 W. Sample Road.
At the workshop, City officials will discuss the financial strategy for Fiscal Year 2011, which is based on a continuation of the three-pronged approach implemented during Fiscal Year 2010. For the coming fiscal year, this approach relies on managing City-wide expenses and enhancing revenues; adopting the property tax rolled-back rate; and the judicious use of unrestricted reserves, or “rainy day” funds, to help balance the budget.
Continuing the three-pronged strategy will allow the City to maintain the current level of municipal services for residents, and also focus on customer-driven priorities including enhancing community aesthetics; expanding police presence in the City; and continuing to advance sustainability and neighborhood vitality.
Adopting the property tax rolled-back rate will enable the City to collect the same amount of tax dollars next fiscal year as this fiscal year, as allowed for under the new property tax reform laws. The new tax rate is still one of the lowest operating millage rates among surrounding municipalities with greater than 70,000 residents. The debt service tax rate will remain constant.
The next Business Planning Workshop is Tuesday, July 20 at 6:30 p.m. in the Commission Chambers, and will be combined with the regularly scheduled City Commission meeting. At this 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.
For the most up-to-date information, visit www.CoralSprings.org.