HomeMy WebLinkAboutItem #78 - First Reading OrdinanceFIRST PUBLIC HEARING TO DISCUSS THE PROPOSED
MILLAGE RATE AND TENTATIVE BUDGET FOR
FISCAL YEAR 2003-2004
THE PROPOSED GENERAL OPERATING MILLAGE
RATE OF 8.7625 FOR THE CITY OF MIAMI FOR THE
FISCAL YEAR BEGINNING OCTOBER 1, 2003 AND
ENDING SEPTEMBER 30, 2004 IS 10.35% HIGHER
THAN ROLED-BACK RATE OF 7.9403.
SPECIFIC PURPOSE FOR WHICH AD VALOREM TAX
REVENUES ARE BEING INCREASED.
RESPONSE: TO ELIMINATE THE ANNUAL
STRUCTURAL DEFICIT MATCHING RECURRING
ANNUAL EXPENSES WITH RECURRING ANNUAL
REVENUES.
PURPOSE: TO FUND ANNUAL MUNICIPAL
SERVICES INCLUDING BUT NOT LIMITED TO
POLICE, FIRE, AND SOLID WASTE.
COST %
$15,973,380 100%
CITY COMMISSION LISTENS AND RESPONDS TO
CITIZENS' COMMENTS REGARDING THE PROPOSED
MILLAGE RATE.
ACTIONS BY THE CITY COMMISSION:
1. AMEND THE TENTATIVE BUDGET, IF NECESSARY
2. RECOMPUTE THE PROPOSED MILLAGE RATE, IF
NECESSARY
3. ADOPT THE TENTATIVE MILLAGE RATE
4. ADOPT THE TENTATIVE BUDGET OR THE
AMENDED TENTATIVE BUDGET AS NECESSARY
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