City Manager Michael Bronstein - Preserving Transparency - The 2017 Budget

Comment Up

Tomorrow night, the city will have its first workshop on the 2016/2017 Budget. As the Audit for last year was just completed a few days ago, our commission will have a lot to digest over the course of a few months.

This total budget, including our Utility, is $168,784,923 which is $10,077,205 or 5.63% lower than the FY 2016 Adopted Budget of $178,862,128. The Operating Budget is $961,353 higher than last year. The tax rate won't go up from last year: millage rate of 5.4945 mils and Municipal Service Taxing Unit (Fire) of 3.4581 mils but you will be paying more taxes as property values went up by 11.65%.

So, we will spend less overall which makes me wonder if the city manager is getting ready for his new power plant initiative.  The operating budget has us spending more ($1,651,069). Department expenses have gone up by 5.46%, total revenues up by 3.13% but total ad valorem is up by 11.37% according to this Budget. We will get $586,948 in additional revenue from ad valorem and the CRA will get an additional $203,106.

Michael Bornstein's intro letter to FYI 2016/2017 Budget

Honorable Mayor, Vice Mayor and the Members of the City Commission, and Citizens of Lake Worth,

It is my distinct honor and privilege to present to you the City of Lake Worth’s annual Budget in-Brief document. This document is intended to provide residents, business owners, and visitors with a clear and succinct perspective regarding the City’s financial state.

This organization prides itself on transparency and fiscal stewardship, and this document reaffirms this organization’s perspective regarding open, honest, and effective local government. Over the next year, economic development, human resource and infrastructure stewardship will be at the forefront of this organization’s initiatives. Even though the economy remains fragile, we are beginning to see major market indicators depicting the perspective that economic stabilization is beginning to occur. Furthermore, infrastructure investments in roadways, public safety, and housing will be critical to this organization’s long-term sustainability. In order to accommodate responsive growth, the appropriate infrastructure must be present to accommodate both existing demand and future needs.

The City will embark upon creating a strategic plan intended to map out the City’s future goals and objectives. This project will enlist public participation (civic engagement) for the purpose of charting the course for City of Lake Worth over the next three (3) to five (5) years.

Long-term economic sustainability and fiscally prudent investments will always be at the forefront of this organization’s list of priorities. We will continue to manage our finances in the most responsible manner possible and ensure that transparency will always be preserved in order to maintain good governance.

Respectfully Submitted,

Michael Bornstein
City Manager

Mayor: Pam Triolo
Vice Mayor: Scott Maxwell
Commission: Christopher McVoy, Andy Amoroso, Ryan Maier