City budget revenue and expenditure highlights

Increased revenues

• Millage rate remains at 7.5 mills resulting in $500,478 additional ad valorem revenue.
• Visitor Information Center parking fee increase to $15 rate results in $750,000 that will be transferred for Mobility, Historic Preservation and the VIC Sinking Fund.
• Parking meter rate increase to $2.50 per hour adds $350,000 that will be transferred to reserves to re-build emergency reserves.
• Fire assessment fee adjustment adds $190,000 in revenue to offset Fire Department expenses.
• 3rd year of Utility Rate increase is implemented resulting in $750,000 of new revenue.
• Solid Waste increase of 5% to help re-build emergency reserves.

No change in revenues or expenditures

• No increase in stormwater rates
• No increase in health insurance rates; 10% increase in dental insurance.
• No increase in workers compensation & liability insurance did not increase.

Increased expenditures

• Paving budget increased by $225,000 over prior year’s budget for total of $750,000 in 2017-2018 including re-bricking of Sevilla and Charlotte Streets.
• Of 19 new personnel requests totaling $1,200,000; only two included in budget for a total of $150,000.
• Personnel compensation includes merit increases and 2nd year of compression totaling $574,000. Budget includes Cost of Living adjustment of 1.25%.