Submitted by Ray Goodgame, Clermont Councilman, Seat 2
I want to take this opportunity to give you a quick review of the FY 2019 budget.
Clermont citywide budget totals $148,514,879 which is $7,585,809 or 4.86% less than the current year’s budget. The primary reason is the completion of the Victory Point Project.
The General Fund Budget totals $41,137,359, which is $2,419,409 or 2.25% more than the current budget. It is this fund which covers public safety, general government (all employees, salaries and benefits), public works, economic development, and parks and recreation. Your ad valorem taxes are the major source of revenue for this fund. Our Chief Financial Director stated that the City could have had a tax decrease if it were not for Amendment 1, which is to be on the November Ballot. This Amendment, which will increase the homestead exemption another $25,000 to $75,000, will impact the city by about an estimated $800,000.
This budget does not take any funds from reserves in order to have a balanced budget. The General Fund reserves at the end of FY2019 are projected to be $8,965,761 or 28.71 of operating expenditures. The City’s Reserve policy is to have a reserve of at least 25% of operating revenues. Your city is under good fiscal management.
The Ad Valorem revenue, the City’s largest single revenue source is $11,787,497, which is $1,148,432 more than the current year budget. The revenue increase is due to a 11.40% increase in property taxable values. The City’s millage rate is to remain the same at 4.2061for the fourth consecutive year. Clermont’s millage rate continues to be among the lowest of comparable cities in Central Florida. Your TRIM notice which you will receive soon will indicate your taxes have increased./ They did, but the millage rate remains the same.
Also to note are our Utility Fees. They continue to be among the lowest of other comparable cities in Central Florida,
If you have recently moved to Clermont, know that you are living in the best-managed city any place. We have one of the highest ranked Fire Departments around. Our Police Department is outstanding as well. Take a look around and study any other city and I believe you will find out you are living in the greatest city in the USA.
Thank you for the privilege of serving as your representative.