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HomeMy WebLinkAbout2025 09 22 Public Hearing 401 - Final Budget FY 2025-2026PUBLIC HEARINGS AGENDA ITEM 401 CITY COMMISSION AGENDA | SEPTEMBER 22, 2025 REGULAR MEETING TITLE Final Budget for Fiscal Year 2025-2026 SUMMARY The Final Budget was prepared at the direction of the Commission using the operating millage rate of 2.6200 mills. The total expenditures in the final budget are $79,623,211 which includes inter-fund transfers and is comprised of the following: General Fund - $26,539,195 Other Governmental Funds - $18,787,142 Enterprise Funds - $34,296,874 The City-Wide Final Budget by fund type currently reflects the following appropriations to/(from) fund balance: General Fund - ($1,276,288) Governmental Funds (exclusive of General Fund) - ($7,536,696) Enterprise Funds - ($5,279,238) The revisions subsequent to the Tentative Budget (September 8th Public Hearing 401) are included in the attachment. The Proposed, Tentative, and Final Budgets are on the City's website at https://www.winterspringsfl.org/finance/page/2026-annual-budget- reports. FUNDING SOURCE RECOMMENDATION Staff recommends the Commission approve and adopt Resolution 2025-20, establishing the Final Budget for the Fiscal Year 2025-2026. A 'sample' motion which includes the necessary elements for statutory compliance is as follows: I move to approve Resolution 2025-20, establishing the Final Budget for the City of Winter Springs for the fiscal year commencing on October 1, 2025 and ending on September 30, 2026. 7 RESOLUTION 2025-20 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, FLORIDA, ADOPTING THE FINAL BUDGET FOR THE CITY OF WINTER SPRINGS FOR THE FISCAL YEAR COMMENCING ON OCTOBER 1, 2025 AND ENDING ON SEPTEMBER 30, 2026; PROVIDING FOR SEVERABILITY; PROVIDING FOR THE REPEAL OF PRIOR INCONSISTENT RESOLUTIONS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Commission of the City of Winter Springs of Seminole County, Florida, on September 22, 2025, held a public hearing as required by Florida Statute 200.065; WHEREAS, the City Commission of the City of Winter Springs desires to adopt the final budget; and WHEREAS, the City Commission of the City of Winter Springs deems that this Resolution is in the best interest of the public health, safety, and welfare of the citizens of Winter Springs. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AS FOLLOWS: Section 1. Incorporation of Recitals. The foregoing recitals are deemed true and correct and are hereby fully incorporated by this reference. Section 2. Final Budget. Having previously adopted a tentative millage rate for the City of Winter Springs for fiscal year 2025-2026 the City Commission adopts its final budget as may be amended for the fiscal year commencing October l, 2025 and ending September 30, 2026 as presented at its regular meeting assembled on the date of this Resolution with all amendments, if any, adopted at that meeting. Section 3. Approved Expenditures. The expenditures in the final budget are $79,623,211 which includes inter-fund transfers and is comprised of the following: General Fund - $26,539,195; Other Governmental Funds - $18,787,142; and Enterprise Funds - $34,296,874. The budget is based upon gross taxable value of $3,983,473,295. Section 4. Submissions. Within three (3) days of the date of this Resolution, the Finance Director shall forward the Resolution adopting the final millage rate to the Seminole County Property Appraiser and the Seminole County Tax Collector. City of Winter Springs, Florida Resolution 2025-20 Page 1of 2 8 City of Winter Springs, Florida Resolution 2025-20 Page 2of 2 Section 5. Certification of Compliance. Within thirty (30) days of the date of this Resolution, the Finance Director will certify compliance with Chapter 200, Florida Statutes by causing the Certification of Compliance, along with all necessary documentation to be sent to the Property Tax Administration Program of the Department of Revenue. Section 6. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of the conflict. Section 7. Severability. If any section, subsection, sentence, clause, phrase, word, or portion of this Resolution is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portion hereto. Section 8. Effective Date. This Resolution shall become effective immediately upon its adoption by the City Commission of the City of Winter Springs, Florida. RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular meeting assembled on this 22nd day of September 2025. Kevin McCann, Mayor ATTEST: Christian Gowan, City Clerk Approved as to legal form and sufficiency for The City of Winter Springs only: Anthony A. Garganese, City Attorney 9 Revisions subsequent to the 2025-2026 Tentative Budget Expenditures/Transfers per Resolution 2025-20 General Fund Other Governmental Funds Enterprise Funds Total Revenues/Transfers - Tentative $25,262,907 $11,661,086 $29,017,636 $65,941,629 Revisions since Tentative: Fund 160 - Reduce Assessment Assumption ($410,640)($410,640) Revenues/Transfers - Final $25,262,907 $11,250,446 $29,017,636 $65,530,989 Expenditures/Transfers - Tentative $26,539,195 $19,140,422 $34,296,874 $79,976,491 Revisions since Tentative: Fund 160- Reduce Assessment District Projects ($353,280)($353,280) Expenditures/Transfers - Final $26,539,195 $18,787,142 $34,296,874 $79,623,211 Appropriation to (from) Fund Balance ($1,276,288) ($7,536,696) ($5,279,238) ($14,092,222) 10