HomeMy WebLinkAboutOrdinance Summary FormDate: 8/29/2008
AGENDA ITEM SUMMARY FOR
FILE ID: 6'-0 iO0C4
BH.2
Requesting Department: OSPBP
Commission Meeting Date: 9/11/2008 District Impacted:
Type: ❑ Resolution
Other
Subject: Establishing FY 2008-2009 Millage Rate
Purpose of Item:
Ordinance ❑ Emergency Ordinance D Discussion Item
To establish millage rates for the fiscal year ending September 30, 2009 ("FY09") at:
General Operating: 7.6740
Debt Service: 0.5803
Total Millage: 8.2543
Background Information:
The proposed FY09 millage rates for the City of Miami (General Operating and Debt Service) are
outlined below:
General Operating - The proposed FY09 rnillage rate for the City of Miami is 7.6740, which is higher
than the current fical year rate by 0.3741 or 5.12%. This proposed rate is higher than the rolled back
rate of 7.3933 by 3.80%. Total of all non -voted Ad Valorem Taxes, proposed to be levied, are more
than the current year Aggregate Rolled Back Taxes by $11,139,505.
Debt Service - The proposed FY09 debt service millage rate for the City of Miami is 0.5803, which is
lower than the current fiscal year by 0.0027 mills or 0.47%.
Budget Impact Analysis
YES Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
C1P
[fusing or receiving capital funds
Grants
Final Approvals
(SIGN AND DATE)
Budget
Purchasing
Chief
knit ><„ -�3�., BI�ioa
Risk Manageme
Dept. Director
City Manager