The city of Holmes Beach’s budget is set to grow by $4,347,602 in fiscal 2021-22.
And it’s only one vote away from approval.
City commissioners held a public hearing and voted 4-1 Sept. 15 to approve on first reading the mayor’s proposed $22,226,872 budget for the upcoming fiscal year, which begins Oct. 1.
Commissioner Kim Rash voted “no,” without providing explanation for his vote during the meeting.
At $17,879,270, the city’s budget for 2020-21 marked the largest-ever municipal budget on Anna Maria Island.
The $4.3 million projected growth for next year is a combination of circumstance and annual growth.
The largest contributor to the increase is $1,078,088 the city budgeted to receive from the federal government through the U.S. American Rescue Plan Act in the new fiscal year, as well as $750,000 in state appropriations for stormwater drainage improvements.
Mayor Judy Titsworth said the funds would pay for capital improvements, such as roadside stormwater improvements.
The city also will receive $216,000 from the West Coast Inland Navigation District for a new police boat. Commissioners voted 4-1 to authorize Holmes Beach Police Chief Bill Tokajer to execute the agreement with WCIND.
Commissioner Kim Rash voted “no,” without citing a reason for his decision during the meeting.
Between the funding from ARPA, WCIND and the state, the city is projected to receive $2,044,088 in new funding.
The city’s projected capital outlay expenses reflect the unprecedented windfall with a jump from $1,898,262 this year up to $4,594,979 in 2021-22.
Otherwise, the city’s projected spending is the result of several increases in costs across the board, including a $619,872 increase in personnel expenses, a $193,500 increase in the cost of road materials and a $196,000 increase to city center lighting expenses.
Millage rate
The city’s rise in taxes for property owners is projected to raise $325,776 more from ad valorem tax revenue if commissioners adopt the staff-recommended 2.25 millage rate.
Millage is the number of dollars taxed per $1,000 of property value. So, at 2.25 mills, a property owner would pay $1,125 in ad valorem taxes for a $500,000 property.
Keeping the millage rate at 2.25 is a tax increase for property owners who have seen a $152,409,605 increase in total values over last year.
At the 2.1178 rollback rate — the rate at which the city would collect the same amount of ad valorem revenue as the current year — the owner of a $500,000 property would pay $1,058.90 in ad valorem taxes.
Commissioners voted 4-1 to approve a first reading for an ordinance setting the 2.25 millage rate for the upcoming fiscal year.
Rash again voted “no,” without explanation.
There was no public comment on the proposed millage rate or the budget at the hearings.
A second public hearing and final reading for the proposed budget will be at 5 p.m. Tuesday, Sept. 28, at city hall, 5801 Marina Drive.
HB Y-to-Y budget
2021-22 proposed budget 2020-21 budget
Expenditures: $22,226,872 $17,879,270
Revenue: $11,547,888 $9,386,597
Reserves: $9,600,897 $8,492,673
Personnel: $6,063,570 $5,443,698
Operating costs: $4,223,862 $3,614,490
Capital outlay: $4,594,979 $1,898,262
ARPA funding: $1,078,088
Unassigned: $7,195,458 $6,773,819
Property value: $2,351,329,436 $2,198,919,831
— Ryan Paice
