Adopted FY 2016 - 2017 Budget - Laserfiche WebLink

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September 26, 2016 City of Casselberry City Manager 95 Triplet Lake Drive, Casselberry, Florida 32707 • Telephone (407) 262-7700, Extension 1130 Fax (407) 262-7745 • Email jnewlon@casselberry.org Ms. Charlene Glancy, Mayor/Commissioner Mr. Anthony Aramendia, Vice Mayor /Commissioner Ms. Sandra Solomon, Commissioner Mr. Bill Hufford, Commissioner Mr. Andrew Meadows, Commissioner Re: Adopted Fiscal Year 2017 Budget Honorable Mayor and Members of the City Commission: I am pleased to present for your consideration the Adopted Operating and Capital Budget for the City of Casselberry for Fiscal Year (fiscal year) 2016/2017. Much change is underway right now in the City. The City is completing its first year since the consolidation of Casselberry Fire and Emergency Medical Services into Seminole County. The transition was smooth and the assimilation of City staff and infrastructure into the County system went very well. Financial efficiencies are predicted to be realized in the near future but for now the City is preparing to make its first payment in fiscal year 2017 under the interlocal agreement which is to look back over the prior fiscal year and make Seminole County whole with regard to funding operations within the City. In May 2014 the voters of Seminole County approved through a referendum the establishment of a one cent addition to the State sales tax for the purpose of funding infrastructure improvements. The new tax became effective January 1, 2015 and is projected to yield $15 million over 10 years to the City for restricted improvements. This money began to be distributed to the City in March of 2015. On August 24, 2015 the City approved and subsequently closed on an advance funding Revenue Bond to borrow $9,894,000 secured by future sales tax collections. Fund balance for the Infrastructure Surtax Fund entering fiscal year 2016 was almost $11 million. On August 22, 2016 the City Commissioner adopted via Resolution 16-2901 the 10 Year Multimodal Master Plan that programs the spending for the accumulated sales tax proceeds. The neighborhood communities have been reassured through the City's initiatives to plant trees, rehabilitate roads and convert all street light fixtures to LED technology. The City acquired the Casselberry Golf Club through purchase in August, 2015 and has operated it for almost a year. Much praise has been derived from property owners who now feel their neighborhoods are stable. The course condition has greatly improved, as well as the natural beauty it projects through much of the City. page 12