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CASSELBERRY CITY COMMISSION Minutes of September 25, 2006 - Regular Meeting Page 4 of 18 $11,536,937 increase in the budget, $9,269,530 is from debt issuance proceeds, and an increase of all other revenues of $4,268,722 is netted with a decrease of use of Fund Balance of $2,00 I ,315 for the remainder of the increase. The Community Redevelopment Agency budget is included in the City's budget document. The Casselberry Community Redevelopment Agency approved their budget via adoption of their Resolution 06-03 on August 21, 2006. Recommendation: The Interim City Manager and the Finance Director recommended adoption of Resolution 06-1712, establishing the final budget for Fiscal Year 2006 - 2007. Public Hearing: Mayor Goff announced a public hearing was being conducted to hear and consider comments and questions regarding the City's proposed budget for the coming Fiscal Year 2006-2007. Mayor Goff opened the floor for public participation. The following individual came forward: 1) John Casselberry, 700 South Lost Lake Lane, requested a clarification regarding the rolled-back rate percentage and whether that means there is going to be that much of an increase in dollar revenues compared with last year. Mr. Miller responded in the affirmative that there would be a 24.05% increase in revenues over the previous year. Mr. Casselberry expressed concerns the transfer of certain properties in the past year between the City and the Community Redevelopment Agency (CRA). Mr. Miller gave an explanation of Tax Incremented Financing (TIP) as it related to the transfer of property between the City and the CRA. No one else came forward. Mayor Goff closed the floor for public participation and opened the hearing to consider City Commission comments and questions regarding the budget. There was no discussion by the City Commission on the matter. MOTION: Commissioner Hufford moved to adopt Resolution 06- 1712, establishing the final budget for Fiscal Year 2006 - 2007, as presented. Motion was seconded by Commissioner Doerner. Motion carried unanimously 5 - 0 by voice vote. Mayor Goff announced the City of Casselberry has adopted a final budget for Fiscal Year 2006 - 2007. 6. MINUTES A. Regular Meeting of August 14,2006 Commissioner Cook stated she had submitted some scrivener errors to the City Clerk prior to the meeting and that the necessary corrections had been made. MOTION: Vice Mayor Hart moved to approve the Minutes of August 14, 2006 as corrected. Motion was seconded by Commissioner Hufford. Motion carried unanimously 5 - 0 by voice vote.