Winter Garden commissioners will host the first budget hearing for the 2020-21 Fiscal Year prior to their regular meeting Thursday, Sept. 3.
The 2020-21 budget is based on a 4.50 millage rate. According to city documents, projected revenues available for the General Fund total $41,019,254, while revenues available for the CRA Fund total $1,607,968. Revenues include collection of ad valorem.
According to City Manager Mike Bollhoefer, the General Fund revenues budget for 2020-21 represents a 5.5% decrease — about $2,366,986 — from the prior fiscal year, largely due to the projected decrease in the intergovernmental revenues.
Despite the decrease, Bollhoefer wrote in the proposed budget, the city is in sound financial condition with a low debt burden and “a responsible level” of fund balances.
The second reading and public hearing will take place Thursday, Sept. 17. To view the agenda and proposed budget, click here.