CITY COUNCIL AGENDA ITEM
Memo Date: September 20, 2021
Agenda Date: September 28, 2021
Prepared By: Lora Howell, Deputy Finance Director
Through: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director and
Stockton Whitten, City Manager
Requested Action:
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Approve Resolution 2021-087 adopting the Final Millage Rate of 6.4532 mills for the City of Cocoa Fiscal Year 2022 commencing on October 1, 2021 and ending on September 30, 2022, which represents an increase of 9.84% over the rolled-back rate of 5.8749.
Approve Resolution 2021-088 adopting the Final Budget and CIP for the City of Cocoa for the Fiscal Year 2022 commencing on October 1, 2021 and ending on September 30, 2022.
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BACKGROUND:
Resolution Adopting the Final Millage Rate
In accordance with Florida Statute 200.065, the City of Cocoa held a public hearing on September 14, 2021, at which time a tentative millage rate was set (Resolution 2021-080). Pursuant to this state statute, a public hearing must be held to adopt a final millage rate to fund the final budget for Fiscal Year 2022. On September 28th, 2021 the City of Cocoa will hold a final public hearing. At this hearing, the City Cocoa City Council must publicly announce the percent of change by which the recomputed final millage rate exceeds the rolled-back rate computed pursuant to Florida Statutes 200.065(1). The tentative millage rate of 6.4532 voted by City Council on September 14, 2021, represents an increase of 9.84% over the rolled-back rate of 5.8749.
Resolution Adopting the Final Budget
In accordance with Florida Statue 200.065, upon holding a public hearing tentatively adopting a proposed millage rate, the City Council must adopt a tentative budget for Fiscal Year 2022, which commences on October 1, 2021 and ends September 30, 2022. On September 14, 2020, a tentative Budget (Resolution 2021-081) was adopted.
Proposed expenditures in the tentative budget including all funds, total $145,575,600. The budgeted amounts for ...
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