Council sets tentative millage rate and budget
The Fort Myers Beach Town Council moved one step closer to setting its final budget for fiscal year 2011-12 on Tuesday, Sept. 6.
After holding a budget workshop earlier in the day, Council adopted a tentative millage rate of 0.8144 and a proposed budget in the amount of $5,561,551. The intended millage rate is a reduction from its TRIM rate of 1.100 mils, and the general fund budget proposal is a $24,703 decrease from fiscal year 2010-11 and current total of $5,586,254.
Before the public hearings, seven residents spoke in opposition of a proposed Public Service Tax, which would likely come into effect for a six-month period in April 2012 and weigh with a like reduction in the ad valorem revenues. The Public Service Tax was cited to be a more secure funding source as well as a diversified revenue base and, without the 10 percent tax, the proposed millage rate was expected to be 0.9144.
“The net of it is we are keeping the amount of money we are receiving in taxes the same as the year before,” said FMB Mayor Larry Kiker. “What that means is that instead of all the money coming from property owners, it also comes from other people who are using some of the services.”
On page five of the Town of Fort Myers Beach FY 2012 General Fund Revenues and Expenditures document, the reported 2011-12 fiscal year ad valorem taxes is $2,057,381 -a reduction of $357,376 from the preliminary (6/20/11) amount of $2,414,757. The Public Service Tax, which would be assessed on the monthly power bills, would bring in $397,367 in revenues.
Kiker dissented from both budgetary resolutions due to the proposed use of Town reserves. The Town is expected to expend $185,527 out of reserves for the next budget cycle.