TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: A Resolution of the City Commission of the City of North Port, Florida, as the Governing Body of the North Port Road and Drainage District, Adopting the Tentative Road and Drainage District Budget for the Fiscal Year beginning October 1, 2024 and ending September 30, 2025; Prescribing the Terms, Conditions, and Provisions with Respect to the Items of Appropriation and Their Payment; Providing for Appropriations and Reappropriations; Providing for Findings; Providing for Conflicts; Providing for Severability; and Providing an Effective Date.
Recommended Action
Adopt Resolution No. 2024-R-48 as presented.
Background Information
The tentative budget for Fiscal Year 2024-2025 for the Road and Drainage District is $29,122,020 this is a decrease of $24,742,331 from the Fiscal Year 2023-2024 amended budget. This represents a 15% increase to the District assessment rate over the prior year assessment rate.
Changes since the July 24, 2024, budget workshop are:
|
REVENUES |
|
|
Total from Manager’s Proposed Budget |
$29,122,020 |
|
Adjustment to Assessment Revenue |
$286,170 |
|
Adjustment to Fund Balance |
-$286,170 |
|
Total for Tentative Budget |
$29,122,020 |
Resolution No. 2024-R-48 has been reviewed by the City Attorney and is legally correct as to form.
Strategic Plan
Good Governance
Financial Impact
Not applicable.
Procurement
Not applicable.
Attachments:
1. Resolution No. 2024-R-48
2. Fund Balance Report Road and Drainage District
3. Rate Comparison Fiscal Year 2023-2024 v. Fiscal Year 2024-2025
Prepared by: Lisa Herrmann, Budget Administrator
Department Director: Kim Williams, Finance Director