CC Minutes 09/22/2008 - Laserfiche WebLink

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CASSELBERRY CITY COMMISSION Minutrl of Septembrr 22, 2008 - Rrgular Meeting Pagr 12 of2l Notice of Public Hearing: This public hearing and the summary budget were advertised in the Orlando Sentinel on September 18, 2008 in compliance with "Truth in Millage" (TRIM) rules. Staff Presentation: Mr. Randy Newlon, Finance Director, gave an overview of the final operating millage rate and Fiscal Year 2008 - 2009 final budget. Ms. Barbara Lipscomb, City Manager, stated the final operating millage rate for Fiscal Year 2008 - 2009 is set 4.8963 mills. The rolled back rate is 4.9365 mills. The final operating millage rate is 0.815122987% below the rolled-back rate. BudgetImpact: The final millage rate of 4.8963 is expected to deliver $7, 11 0,887 in ad valorem tax revenue to the General Fund. The City is obligated to pay to its Community Redevelopment Agency (CRA) a distribution called Tax Increment Funding (TIF) based on taxes assessed and collected from properties within the geographic boundaries of the CRA. The final millage rate of 4.8963 will lead to a TIF payment from the City to the CRA of$559,675. Both are included in the requested final Budget for Fiscal Year 2008 - 2009. Recommendation: The City Manager and the Finance Director recommended approval of Resolution 08- 1932 to set the final millage rate at 4.8963. Public Hearing: Mayor Goff stated this is a public hearing to hear and consider comments and questions regarding the City's final millage rate for the coming fiscal year. Mayor Goff opened the floor for public participation. No one came forward. Mayor Goff closed the public hearing relative to Resolution 08-1932. MOTION: Vice Mayor Hufford moved to adopt Resolution 08- 1932, establishing the final operating millage rate at 4.8963 miIis for Fiscal Year 2008 - 2009. Motion was seconded by Commissioner Miller. Motion carried 4 _ 1 (Mayor Goff dissenting) by voice vote. Mayor Goff announced the City of Casselberry has adopted a property tax rate of 4.8963 mills as the final millage rate for Fiscal Year 2008 - 2009. This rate is 0.815122987% lower than the rolled-back rate of 4.9365 mills. B. Resolution 08-1933 - Public Hearing to Adopt the Operating Budget for Fiscal Year 2008 - 2009 The City Clerk read Resolution 08-1933 by title as follows: "A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, ADOPTING THE FINAL BUDGET FOR THE CITY OF CASSELBERRY FOR THE FISCAL YEAR COMMENCING OCTOBER 1,2008 AND ENDING SEPTEMBER 30, 2009; PROVIDING FOR CONFLICTS, SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE." Notice of Public Hearing: This public hearing and the summary budget were advertised in the Orlando Sentinel on September 18, 2008 in compliance with "Truth in Millage" (TRIM) rules.