Entering FY 2023, the COV budget has a total revenue of $43.533, 492 and a total expenditure of $40, 522, 296. Adding 3M to our General Fund reserves. Our adopted budget had $12.3M in reserves.
This was before IAN.
It is estimated that IAN will cost the COV $10+M. FEMA will reimburse the city, the time and percentage is undetermined. $5.5M will initially come from our General Fund. The remainder will be paid out of enterprise funds, airport, utilities, solid waste, stormwater, and building. All enterprise funds are required to have a reserve that varies from 25% to 30%.
This year I have requested that the COV follows Sarasota County in their commitment to environmental, social, and economic sustainability. To achieve the balance necessary for a sustainable community it is necessary to replenish the resources we use or consume, ensure our values guide us into the future, and invest in our community to ensure future prosperity.
City Manager Lavallee agreed and stated that staff will bring back a proposal to codify standards on capital projects to include environmental, operational, and economic elements as a policy that Council may adopt by resolution or ordinance.
I realize that we must lead by example. I have asked for conservative spending, solar energy for our governmental buildings, and efficient/safe roadways.
When I took office 5 years ago, we did not have an asset management plan. We now do, and have made significant progress updating our infrastructure, adding new facilities, and streamlining our management. We built a new fire department, expanded, and updated city hall, built a new police department, resurfaced our roads, added major improvements to all our parks, added an EMS service, updated our LDRs, upgraded our airport, and each year we added between $15-$20M in upgrades to our utilities, water supply.
This year we will add another fire station, build a $23.5M pump station powered by solar, a $5M aquifer storage recovery well, add a new park, expand a road, and begin construction on a new airport administration building that is hurricane hardened.
We have kept the taxes consistent. Our millage rate for 2023 is 4.36. In 2019 and 2020 our millage rate was 3.7.
We now pay the city .66 for EMS service (in 2020 we paid Sarasota county .66 EMS)
A millage rate of 3.7 + .66 (EMS)=4.36
This means that we have kept the millage rate the same since 2019
I will not vote for an increase in taxes.
But there is more to do.
We have identified several topics for staff to research further and provide us with LDR text for consideration. They had a 6-month timeline. We are looking for this research at the beginning of the new year. The topics are affordable/workforce housing incentives and half dwelling units, environmental assessment/process on smaller lots for protected species, green building and sustainability standards, medical marijuana dispensaries, grass lawn standards, dust abatement, and hours of construction activity.
In addition, I have asked for an updated noise ordinance that protects residents.
I intend to be busy in 2023.
As always, please contact me at 941-468-4188.