Laserfiche WebLink
<br />CITY OF CASSELBERRY, FLORIDA <br />MANAGEMENT'S DISCUSSION AND ANALYSIS - Continued <br />September 30, 2005 <br /> <br />During the current fiscal year, the City secured revenue notes of $2,257,000 for the purchase of land for <br />re-saie and $260,000 for a neighborhood improvement project to be paid back by assessments to the <br />property owners. <br /> <br />Additional information on the City's debt can be found in Note 7 of this report. <br /> <br />Economic Factors and Next Year's Budgets and Rates <br /> <br />The unemployment rate for the City at September 30, 2005 was 3.1 percent, a decrease of 0.7% <br />from the prior year. The national unemployment rate for the same period was 5.1 percent. <br /> <br />The taxable value of real and personal property increased 8.5 in the 2005 fiscal year. <br /> <br />Building permit activity resulted in $30.3 miiiion of new construction during the year, an increase of <br />5% from the previous year. <br /> <br />Population increased approximately 0.7 percent from the prior fiscal year to 24,899 at September 30, <br />2005. <br /> <br />During the current fiscal year, unreserved fund balance in the General Fund increased to $5.4 million. <br />The City has appropriated $345,574 of this amount for spending in the 2006 fiscal year budget. The ad <br />vaiorem tax rate for the General Fund was not increased for the 2006 fiscal year budget. <br /> <br />Requests for Information <br /> <br />This financial report is designed to present users with a general overview of the City's finances and to <br />demonstrate the City's accountability. If you have questions concerning any of the information provided <br />in this report or need additional financial information, contact the City's Finance Department, 95 Triplet <br />Lake Drive, Casselberry, Florida 32707. <br /> <br />11 <br />