Sunday, September 22, 2013

Lake Worth's Budget Summary

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UPDATE--SEE BELOW
If anyone read the Palm Beach Post this morning you would have come across the Lake Worth budget on page A-15 that is published by law. You would have noticed the discrepancy in the figures...$60,000 off or a figure that is unexplainable.

The biggest glaring figure in black and white (but not really a shocker as we have been reporting on this) is the cost of Public Safety. 

Revenues for 2014:  $29,516,000
Cost of Public Safety:  $20,787,907

Public Safety is costing us 70.43% of our general revenue before including our general fund balance of $372,600. The millage will remain the same as last year at 5.4945%.

E-mail reply from the Finance Director:
You are correct, the amounts are different and they should not be, I had seen the same thing.  The budget summary is correct.

We will be getting with the State Department of Revenue on Monday and publishing whatever correction is required by law.  I believe that we will have the meeting on Tuesday as advertised but not take final action on the budget and millage.  We would  continue the Public Hearing  and final action to a date and time certain to meet the legal notice requirements. We have until September 30 to adopt a budget.

Thanks Steve

3 comments:

  1. And just think--what happens when they wean us off the revenue we get from our utility to operate the general fund.

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  2. Thank you. Happy to know taxes are not going up.

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  3. But taxes ARE going up--the millage is the same.

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