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CASSELBERRY CITY COMMISSION Minutes of September 24, 2018 — Regular Meeting Page 9 of 14 and payment to the Seminole County Tax Collector for administrative fees for collecting those funds on the City's behalf The requested rate is 1.47% above the rolled -back rate of 3.0077 mills and will result in a TIF (Tax Increment Funding) payment from the City to the Casselberry CRA (Community Redevelopment Agency) of $426,078 based on this levy. The City Commission is requested to approve Resolution 18- 3059 adopting a final millage rate for Fiscal Year 2018-2019 of 3.051.9 mills. Budget Impact: The final millage rate of 3.0519 mills is expected to deliver $4,544,013 (at 97% of the total tax levy) 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 3.0519 mills will lead to a TIF payment from the City to the CRA of $426,078. Both are included in the requested Final Budget for Fiscal Year 2018-2019. Recommendation: The City Manager and the Interim Finance Director recommended approval of Resolution 18-3059 to set the final adopted millage rate for Fiscal Year 2019 at 3.0519 mills. Public Hearing: Mayor Glancy stated this was a public hearing to hear and consider comments and questions regarding Resolution 18-3059. Mayor Glancy opened the floor for public participation. No one came forward to address Resolution 18-3059. Mayor Glancy closed the public hearing relative to Resolution 18-3059. MOTION: Commissioner Solomon moved to approve Resolution 18-3059 setting the final millage rate for Fiscal Year 2018-2019 at 3.0519 mills, as presented. Motion was seconded by Commissioner Hufford. Motion carried unanimously by voice vote 4-0. D. Resolution 18-3060 — Adoption of Operating Budget for Fiscal Year 2018-2019 The City Clerk read Resolution 18-3060 by title, as follows: "A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, ADOPTING THE FINAL BUDGET FOR THE CITY OF CASSELBERRY FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2018 AND ENDING SEPTEMBER 30, 2019; PROVIDING FOR CONFLICTS, SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE." Notice of Public Hearing: The Notice of Public Hearing relative to the final budget for Fiscal Year 2018- 2019 was advertised in the Orlando Sentinel on Thursday, September 20, 2018, in accordance with Truth In Millage (TRIM) legislation requirements. Staff Presentation: Interim Finance Director Teri Butler advised that a tentative budget of $52,854,325 for Fiscal Year 2018-2019 was approved by the City Commission at the first public hearing held on September 10, 2018 and that no modifications to the budget had occurred since the first public hearing. She then gave an overview of the proposed final operating budget for Fiscal Year 2018-2019 which included the increases and decreases in each fund, the projects and proposed expenditures which resulted in the increases and decreases, and additional details as to the proposed revenues and expenditures contained in