SEBASTIAN — The Sebastian City Council tentatively adopted a proposed millage rate of 3.7166, or .62% lower than the “rolled-back” rate of 3.7398 mills. This rate, according to staff recommendation, “will provide sufficient operating revenue to cover expenditures proposed for the Fiscal Year 2013-14.”
Each mill represents $1 of tax assessment per $1,000 of assessed property value, levied against all real and tangible property for the calendar year 2013, to be collected for the General Fund for FY2013/2014.
Also in accordance with State Statute, the Sebastian City Council tentatively adopted the FY2013/2014 budget with a couple of issues still to be determined. City Manager Al Minner said those issues concern union negotiations.
As discussed in last month’s budget workshop, an anticipated $212,000 surplus would be used to cover employee benefits and the cost of eliminating furloughs.
Negotiations with both the Police Benevolent Association and the Public Employees Association bargaining units resulted in tentative agreements that are expected to be voted on by members this week.
If both memberships vote in favor of these agreements, the budget would be “changed to reflect an additional $65,000” over and above the $212,000, according to Minner.
After considering several ways to identify the additional funds, staff determined the most reasonable would be in the form of an “IOU” from the Building Fund to the General Fund. During the budget workshop, the Sebastian City Council emphasized the importance of supporting city employees and working to improve wages and benefits, which took a hit during the financial challenges of the past few years.
The current budget summary, including the General Fund, Special Revenue Funds, Debt Service Funds, Capital Projects Funds and Enterprise Funds is $21.8 million.
The final public hearing on the property tax rate and budget is scheduled for Wednesday, Sept. 25, at 6:30 p.m.
