HomeMy WebLinkAboutVII (A1) Budget: Set Tentative Millage Rate Agenda 7-18 -:1000
item VII A I
"CENT ER OF GOOD LIVING-PRIDE OF(VEST ORANGE" MAYOR•COMMISSIONER
Ocoee S. SCOTT VANDERGRIPT
° x CITY OF OCOEE
•�i' Y O COMM6SIONERS
• •� a 150 N. LAKESHORE DRIVE DANNY HOW ELL
O SCOTE ANDERSON
_� OCOEE, FLORIDA 34761-2258 RUS-I'Y AHINSON
fF}'* ''' `sS (407)656-2322 NANCY J.PARKER
OF G000
CI V MANAGER
ELLIS SJIAPIRO
MEMORANDUM
To: The Honorable Mayor and Board of City Commissioners
From: Ellis Shapiro, City Manager
Date: July 12,2000
Re: TRIM TIMETABLE; PROPOSED MILLAGE RATE
The Trim timetable requires us to advise the Property Appraiser of the FY2001 proposed
millage rate by August 4, 2000.
The Trim Act requires that whatever millage is set by you today and sent to the Property
Appraiser cannot be increased after August 4,2000. However, it should also be understood
that the rate can be decreased after the budget workshops are completed. Please note that
whatever millage rate you propose now will be sent to all property owners within Ocoee
directly after August 4,2000.
The issue of a millage increase is so critical as to what occurs in this budget that attempts at
balancing this budget have been frozen until the tentative millage rate has been set.
Attached to this memorandum are options from the rolled-back rate to a one mil increase.
I am recommending a one mil tax increase.
Respectfully submitted,
POW!'
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Revenue Proceeds
Ad Valorem Revenue
Proceeds Proceeds Total Proceeds
Rollback Rate $154,792 $620,000 $774,792
4.0 mils $299,423 $620,000 $919,423
4.25 mils $532,700 $620,000 $1,152,700
4.50 mils $765,977 $620,000 $1,385,977
4.75 mils $999,253 $620,000 $1,619,253
5.0 mils $1 232,530. $620,000 $1,852,530
NOTE: Every.25 mil generates and additional $233,277 as reflected above
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Millage Rate Items
Rolled-back Rate 4.0 mils 4.25 mils
Health Insurance (33%) Health Insurance (33%) Health Insurance (33%)
COLA(3%) COLA(3%) COLA(3%)
Coca Cola Interest Coca Cola Interest Coca Cola Interest
Aquatic Center Aquatic Center
Unfunded Items Merit(4%)
Aquatic Center Unfunded Items
Merit (4%) Merit(4%) Unfunded Items
Across The Board (2%) Across The Board (2%) Across The Board (2%)
New Personnel (Non Grant) New Personnel (Non Grant) New Personnel (Non Grant)
Personnel Reclasses Personnel Reclasses Personnel Reclasses
TV Programming Expansion TV Programming Expansion TV Programming Expansion
Boxing Program Boxing Program Boxing Program
Pension Benefits Pension Benefits Pension Benefits
4.50 mils 4.75 mils 5.0 mils
Health Insurance(33%) Health Insurance(33%) Health Insurance (33%)
COLA(3%) COLA(3%) COLA(3%)
Coca Cola Interest Coca Cola Interest Coca Cola Interest
Aquatic Center Aquatic Center Aquatic Center
Merit(4%) Merit(4%) Merit(4%)
Across The Board (2%) Across The Board (2%) Across The Board (2%)
New Personnel (Non Grant) New Personnel (Non Grant) New Personnel (Non Grant)
Personnel Reclasses Personnel Reclasses
Unfunded Items TV Programming Expansion TV Programming Expansion
Personnel Reclasses Boxing Program
TV Programming Expansion Unfunded Items Pension Benefits
Boxing Program Boxing Program
Pension Benefits Pension Benefits Unfunded Items
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