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CASSELBERRY CITY COMMISSION Minutes of September 26, 2022 — Regular Meeting Page 3 of 13 Staff Presentation: City Manager Randy Newlon stated that Resolution 22-3331 provides for adoption of the tentative millage rate of 2.9000 mills as the final millage rate for Fiscal Year 2022-2023 and adoption of the tentative voted debt millage rate of 0.6443 mills as the final voted debt millage rate for Fiscal Year 2022-2023. The City Commission held a public hearing on September 12, 2022 and approved a tentative millage rate of 2.9000 mills, which if approved as the final millage rate, would result in $5,971,913 at 97% of the total tax levy) in ad valorem tax revenue to the General Fund for Fiscal Year 2022-2023, and also approved a tentative voted debt millage rate of 0.6443 which if approved as the final voted debt millage rate, would result in $1,326,796 (at 97% of the total tax levy) to the Debt Service Fund for Fiscal Year 2022-2023. The requested final millage rate of 2.9000 is 7.08% above the current year rolled -back rate of 2.7082 and will result in a TIF (Tax Increment Funding) payment from the City to the Casselberry CRA (Community Redevelopment Agency) of $536,810 based on this levy. The City Commission is requested to approve Resolution 22-3331 adopting a final millage rate for Fiscal Year 2022-2023 of 2.9000 mills and a final voted debt millage rate for Fiscal Year 2022-2023 of 0.6443 mills. Budget Impact: The final millage rate of 2.9000 mills is expected to deliver $5,971,913 (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 2.9000 mills will lead to a TIF payment frorn the City to the CRA of $536,810. Both are included in the requested final budget for Fiscal Year 2022-2023. The voted debt millage rate of 0.6443 mills is expected to produce $1,326,796 (at 97% of the total tax levy). Recommendation: The City Manager and the Finance Director recommended approval of Resolution 22- 3331 to set the final adopted millage rate for Fiscal Year 2022-2023 at 2.9000 mills and the voted debt millage rate at 0.6443 mills. Public Hearing: Mayor Henson stated this was a public hearing to hear and consider comments and questions regarding Resolution 22-3331 and the City's final millage rates for the coming fiscal year. Mayor Henson opened the floor for public participation. No one came forward to address Resolution 22-3331. Mayor Henson closed the public hearing relative to Resolution 22-3331. MOTION: Commissioner Busch moved to approve Resolution 22-3331 adopting 2.9000 mills as the final millage rate and 0.6443 mills as the final voted debt millage rate for the City of Casselberry for Fiscal Year 2022-2023, as presented. Motion was seconded by Vice Mayor Aramendia. Motion carried unanimously by voice vote 5-0. Mayor Henson announced that the City of Casselberry has adopted a property tax rate of 2.9000 mills as the final millage rate and 0.6443 mills as the final voted debt millage rate for Fiscal Year 2022-2023. The final operating millage rate is 7.08% higher than the rolled -back rate of 2.7082 mills. B. Resolution 22-3332 — Adoption of Final Operating Budget for Fiscal Year 2022- 2023 Mayor Henson announced for the record that the public hearing to consider adoption of the City of Casselberry's final operating budget for Fiscal Year 2022-2023 would now begin.