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CASSELBERRY CITY COMMISSION Minutes of September 18, 2017 — Special Meeting Page 7 of 14 A. Resolution 17-2980 — Tentative Millage Rate for FY 2017/2018 The City Clerk read Resolution 17-2980 by title as follows: "A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, ADOPTING THE TENTATIVE MILLAGE RATE FOR THE CITY OF CASSELBERRY FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30,2018; ANNOUNCING THE ROLLED -BACK MILLAGE RATE, THE PERCENTAGE BY WHICH THE TENTATIVE MILLAGE EXCEEDS THE ROLLED -BACK RATE AND THE TENTATIVE MILLAGE RATE TO BE LEVIED; PROVIDING FOR CONFLICTS, SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE." Notice of Public Hearing: The Notice of Public Hearing relative to Resolution 17-2980 was originally placed in the TRIM (Truth in Millage) notices that property owners received in August, 2017. However, due to Hurricane Irma, the City had to re -advertise the Notice of Rescheduled Hearing and this ad appeared in the Orlando Sentinel on Friday, September 15, 2017 pursuant to the Florida Department of Revenue emergency order that was issued which gave the City the ability to reschedule the hearing. Staff Presentation: City Manager Randy Newlon introduced Finance Director Rebecca Bowman who gave a brief overview of the budget adoption process noting that this was the first public hearing for both the millage rate and the FY 2017-2018 budget, and the second and final public hearings would be held at the City Commission meeting on September 25, 2017. Ms. Bowman then gave a presentation on both the tentative millage rate and tentative proposed operating budget for FY 2017-2018. She stated that the tentative millage rate for Fiscal Year 2017-2018 was requested to be set at 3.1201 mills. She added that the proposed tentative millage rate of 3.1201 mills would result in $3,898,915 in ad valorem tax revenue for Fiscal year 2017-2018. She stated that this rate was 5.7 1 % above the rolled -back rate of 2.9515 mills and would result in a TIF (Tax Increment Funding) payment from the City to the CRA (Community Redevelopment Agency) of $173,977 based on this levy. Ms. Bowman provided an overview of the proposed increases and decreases in each fund and the projects and proposed expenditures which resulted in the increases and decreases and additional details as to the proposed revenues and expenditures contained in the proposed budget. She advised that the most significant increases to the various funds were as follows: Water and Sewer Fund $ 1,512,007 Increase Renewal & Replacement Fund $ 2,897,050 Increase She noted that adoption of the proposed budget of $51,839,075 would result in an increase of $4.2 million or a 9.7% increase over Fiscal Year 2016-2017. City Manager Randy Newlon announced that the tentative millage rate for 2017-2018 is being requested at 3.1201 mills, the rolled back rate is 2.9515 mills, and the tentative millage rate is 5.71% above the rolled back rate. Public Hearing: Mayor Glancy stated this was a public hearing to hear and consider comments and questions regarding Resolution 17-2980. Mayor Glancy opened the floor for public participation. No one came forward to address Resolution 17-2980. Mayor Glancy closed the public hearing relative to Resolution 17-2980.