Village of Palmetto Bay
September 27, 2021
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The budgeting process that started back in May has been completed tonight with the adoption of the Operating & Capital Budget for Fiscal Year 2021-22!
The process would entail three budget workshops, which were intended to gather input from residents and the Village Council and two budget hearings, allowing discussions on the budget as proposed. Tonight, Councilmembers, staff and residents expressed their desires, views and priorities for the upcoming fiscal year, which starts on October 1st.
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Manager Marano also presented the budget highlights, including staff changes and new initiatives. Most of the staff that has been added to the budget represent positions that were eliminated last year as a result of the COVID-19 pandemic. Returning those cut positions to the budget enables the Village to provide services that were paused or scaled back. Funding for those positions over the course of the next four years will be available from ARPA. Once ARPA funding expires, the Village will be on solid financial footing to fund the positions on a longer term basis, as explained by Manager Marano.
Besides the human capital that is part of the budget, there are new initiatives in the plans, including lowering the CRS rating to save residents money on their flood insurance premiums, ensuring that drainage projects are shovel ready to make the Village eligible for funding opportunities, expanding the parks system and increasing the Fund Balance by $650,000. The figure initially presented was $700,000. However, in a unanimous vote by the Council, $50,000 were allocated from the $700,000 Fund Balance refund as the initial funding for a parkland acquisition fund.
Mayor Cunningham, joined by her colleagues on the Council, applauded Village Manager Nick Marano and staff for putting together a budget that truly represented the priorities that the Council, as a body, had put forward. "The components that you include here in the budget, you hit on every one of our strategic focus areas and you cover every single one of our top two priorities", said Mayor Cunningham urging the residents to read page 5 of the Budget Message, which outlines the items that the Council set forth as priorities for the Village.
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Priorities in the newly Adopted Budget for Fiscal Year 2021-22:
- Public Safety
- Adds an additional Police Officer
- Adds a canal patrol capability
- Community Resiliency
- Continues/expands CRS Rating reduction project
- Design for several important Stormwater Projects (drainage)
- Parks
- Coral Reef Park Recreation Building (100% of the design and 50% of the construction costs funded over a two-year period)
- The Woods
- Veterans’ Park
- Special Events
- Including Village 20-year Anniversary
- Enhances staffing to provide better information and services
- Initial funding for Village Maintenance Fund
- Sets aside funding for major replacements
- Funds a parkland acquisition fund with an initial allocation of $50,000
- Increases Fund Balance by $650,000 (our savings account)
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The final adopted budget will be published online and will be announced on the Village website and social media channels. Stay tuned...
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