Adopted FY 2016 - 2017 Budget - Laserfiche WebLink

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The Lake Concord Park project was conceived to be the catalyst for new development along U.S. Highway 17-92 in Casselberry and it has proved to be true. Construction projects on this corridor valued at about $100 million have broken ground or are being permitted. Much more development has emerged in various other corners of the City that include major commercial and single family residential projects. City staff is working very hard to shepherd in these projects and create an environment where private investment is made to feel welcome. The Recreation staff promote first class events that also raise the public perception of Casselberry and reinforce it as a destination for quality living. The City has expended much effort and resources to raise its stature, ignite economic development, comfort residents, increase commerce, enhance the quality of life for our citizens and position the City for financial sustainability with more public investment. It is crucial that the City maintain the momentum that it has built but it is also time to regroup. The City will undertake during fiscal year 2017 to complete new master plans for parks and stormwater. It will perform a water and sewer rate study to match future revenues with efficient operations and smart capital renewal and replacement programs. The City will seek approval from the Seminole County Board of County Commissioners for an eight year extension for the Community Redevelopment Agency to continue its authorization with a revised plan through 2025. BUDGET IN BRIEF Preparation of the fiscal year 2017 Adopted Budget called for continued conservation of resources and again my thanks are extended to the City's Department Directors who answered the call to keep personnel, operating, and ordinary capital requests in line. That said, the fiscal year 2017 Adopted Budget City wide comes to $46,975,816 which is $4,180,135 or 9.8% greater than the fiscal year 2016 Adopted Budget. The total budget for the City is composed of spending plans for ordinary government and utility operations and extraordinary uses of restricted funds for capital projects. The relatively large growth in the total spending budget does not represent a regular trend but is driven by increased capital project spending from accumulated funds from the Infrastructure Surtax Fund and the Water and Sewer Utility Fund. The General Fund is that subdivision of the City supported by various taxes and fees and that is associated with the provision of most municipal services. The budget proposed for the General Fund is $16,938,643 which is $571,563 or 3.5% greater than fiscal year 2016. The terms of the interlocal agreement for the consolidation of Fire and Emergency Medical Services from the City into Seminole County provides for payment from the City to Seminole County to make the County whole for its cost to provide these services within the City. The first payment under the agreement occurs in fiscal year 2017 and is estimated to be $1 Million. The payment to Seminole County is the primary driver for the growth in the General Fund Budget in fiscal year 2017. The Seminole County disbursement for Fire services is expected to diminish with time. Another factor includes greater investment in the Information Technology Division to offset urgent deferred maintenance and licensing needs. The last debt installment of over $500 thousand for the golf course purchase occurs in fiscal year 2017. The new spending level for the Information Systems Division, however, is expected to recur. The General Fund budget is balanced with no need to reduce accumulated reserves. The Infrastructure Surtax Fund budget is $4,391,257 which is $2,418,230 or 122.6% greater than the corresponding budget in fiscal year 2016. $3.3 million in proposed capital projects fuel the growth in spending page 14