Final budget vote set for Sept. 27

The Longboat Key Town Commission held the first of two reviews of the Fiscal Year 2022 budget on Monday afternoon.

The revised recommended budget for the upcoming fiscal year shows the town is due to collect $17,420,378 in revenues and will spend $17,832,746. Not counting capital transfers, the town is due to spend $17,310,446.

“You really want to see how close your operating expenses are to your revenues because the capital fluctuates,” Town Manager Tom Harmer said.

The budget maintains a flat millage rate of 2.1144. Using that rate, a revenue increase of about $740,886 is anticipated, based on a property value increase of 6%. The town is projected to collect about $13,139,051 in the upcoming fiscal year from property taxes, about three-quarters of town revenue.

“We lost some revenues last year and so we were using a little bit more of our savings,” Harmer said. “Right now, we’re pretty balanced and we’re just slightly ahead on revenues than we are expenses, which is a good sign.

“So, it’s a good recovery from where we were last year, and where we were two years ago, this is pretty similar to where we are this year.”

Since the June 21 Town Commission workshop, the town has seen its general fund revenues increase by $232,677. It includes increased ad-valorem revenues of $77,134 based on July 1 certified revenues.

Harmer said the town has also seen general fund expenditures have a net decrease of $11,104.

Among the recommended expenditures:

• Undergrounding project, which is still under construction
• Completing the outdoor Town Center phase two improvements, including a stage, walkways and lighting.
• Annual citizen survey
• Budgeted compensation plan and meet increases for employees
• Continued funding for red tide contingency at $50,000
• The beginning phase of a multi-year $7.2 million construction project to replace cement pipes in Country Club Shores that contain asbestos.
• Early stages of a redundant sewer line under Sarasota Bay. The project would build a parallel line that would one day replace the existing line. The town is planning to pursue the project in Fiscal Year 2024 at a cost of about $21.8 million.
• Development of a canal dredging plan
• Adding funding for the town’s federal lobbyist and for grant assistance
• Restored funding for the general fund contingency to $250,000
• Adding $300,000 for a roundabout design and engineering at Gulf of Mexico Drive and Broadway
• Adding $130,000 for the GMD corridor plan
• Adding $80,000 for phases three and four of the sea level rise, pending grant assistance
• Adding $1.25 million for subaqueous wastewater

Commissioners are scheduled to hold a second reading and adoption vote at 5:01 p.m. on Sept. 27.