The budgets for the city of Bradenton Beach and its community redevelopment agency received final approval Sept. 19 without comment.
City commissioners voted 4-0 to approve the final reading of an ordinance establishing the city’s 2.3329 millage rate and $5,515,261 budget for the 2019-20 fiscal year, which begins Oct. 1.
Commissioner Randy White was absent with excuse.
Total expenditures are projected to reach $5,515,261 in the new fiscal year, almost $2 million more than the current $3,555,521 spending plan. Much of the difference is accounted for in a $1,347,124 flood prevention project that is being funded by the state.
After accounting for $5,634,721 in revenue, the city is expected to net $119,460 for the city’s reserve account.
The two largest sources of revenue for the city are $1,507,745 in ad valorem taxes and $1,347,124 for the state-funded flood prevention project.
Other notable sources of revenue include $225,000 in building permits and planning fees, $88,800 from the Historic Bridge Street Pier, $81,075 in concession funds from the county, as well as $78,750 in vacation rental registration fees.
Expenditures for the Bradenton Beach Police Department will be $1,263,127 in 2019-20, a more than $100,000 increase over 2018-19, largely due to the addition of a new officer. The new officer will result in a $70,450 increase in wages for the department.
Proposed library expenditures for 2019-20 are $45,051. The amount is a $4,255 increase over the $40,796 in library expenditures for 2018-19, and includes $2,000 for installation of an automated external defibrillator at the library.
City treasurer Shayne Thompson wrote in a July 25 email to The Islander that $454,849 remains in the library bequeath fund.
The city budget also includes a 1.2% across-the-board salary increase, as well as funds for a new computer and microphones for the Katie Pierola Commission Chambers.
The adopted millage of 2.3329 is a tax increase for property owners. To avoid the tax increase, the city needed to adopt a rollback rate of 2.2431, which would have yielded the same income as the current year’s budget.
The millage rate is the amount per $1,000 of property value used to calculate property taxes. The owner of a property appraised at $500,000 with a 2.3329 millage rate would pay $1,166.45 in property taxes.
The owner of a property appraised at $500,000 at the 2.2431 rollback rate would pay $1,121.55 in property taxes.
The total appraised value of Bradenton Beach properties is $650,221,930, with $4,311,124 in new taxable construction. With the 2.3329 ad valorem rate, the city will collect $1,507,745 in taxes, a $64,522.46 increase over the $1,443,222.54 collected in 2018-19.
CRA adopts budget
On the same day, four of the seven CRA members voted 4-0 to approve the first reading of the agency’s budget.
Citizen members Ed Chiles and David Bell, as well as Commissioner Randy White, were absent with excuse.
The CRA promotes restoration, growth and tourism for the district — bordered by Cortez Road, Sarasota Bay, Fifth Street South and the Gulf of Mexico — by funding capital improvement projects with incremental tax revenue collected by Manatee County since 1992, when the area was declared blighted.
The CRA expects $1,105,000 in revenue for the next fiscal year, $625,035 more than in 2018-19. City treasurer Shayne Thompson estimated the CRA fund will total $1,863,758 by Oct. 1.
The CRA has budgeted $2,666,019 in spending next year, a $1,601,177 increase over 2018-19. Expenditures include $158,300 for general expenses, $5,000 for administrative costs, $73,297 for streets and roadwork and $72,800 for law enforcement.
The police spending was bumped up $18,200 to fund additional patrols and help cover the cost of the department’s new officer.
The preliminary budget included $18,297 for streets and roads, but CRA members agreed to spend $55,000 for a public works employee to oversee beautification and administer projects in the CRA district.
The budget includes $125,000 to cover master plan projects — the replacement of Manatee County Area Transit stops in the district, a flag tower on the Historic Bridge Street Pier and a gazebo outside the U.S. post office on Bridge Street.
Another $130,000 was added to the budget at the previous work meeting to fund a 39-passenger tram to transport people between the Coquina Beach parking lot and Bridge Street.
To make further changes, the CRA must notify the county within 10 days of amending the budget.
By the numbers
2019-20 city budget: $5,515,261.
2018-19 city budget: $3,555,521.
2019-20 revenues: $5,634,721.
2019-20 CRA budget: $2,666,019.
2018-19 CRA budget: $1,064,842.
2019-20 CRA revenues: $1,105,000.
2019-20 millage: 2.3329 mills.
Rollback rate: 2.2431.
2018-19 millage rate: 2.3329 mills.
Tax on a $500,000 property at rollback: $1,121.55.
Tax on a $500,000 property at established millage rate: $1,166.45.
Total 2018 assessed taxable property value: $618,638,836.
Total 2019 assessed taxable property value: $650,221,930.
Tingley Memorial Library Fund: $454,849.