Final Budget Hearing Summary
Village of Palmetto Bay
September 27, 2021
The budgeting process that started back in May has been completed tonight with the adoption of the Operating & Capital Budget for Fiscal Year 2021-22!

The process would entail three budget workshops, which were intended to gather input from residents and the Village Council and two budget hearings, allowing discussions on the budget as proposed. Tonight, Councilmembers, staff and residents expressed their desires, views and priorities for the upcoming fiscal year, which starts on October 1st.
Village Manager Nick Marano opened the hearing with a brief presentation explaining the impact of the proposed millage rate of 2.4 mills. "The Village was built and optimized on that millage rate. It will keep the service levels that our residents expect", said Manager Marano.

The relative increase to the average Palmetto Bay resident is estimated at $53 annually. The additional $530,000 in revenue makes it possible for the Village to return funds to its Fund Balance (also known as the savings account) and remain fiscally solvent.

This is a significant step in the right direction, especially given the fact that the Village's Fund Balance was expected to have a deficit exceeding $680,000 at the beginning of fiscal year 2020-21. The Fund Balance is changing from a $9.3 million balance in fiscal year 2020-21 to a $10.7 million balance in fiscal year 2021-22. A positive shift indeed.
Manager Marano also presented the budget highlights, including staff changes and new initiatives. Most of the staff that has been added to the budget represent positions that were eliminated last year as a result of the COVID-19 pandemic. Returning those cut positions to the budget enables the Village to provide services that were paused or scaled back. Funding for those positions over the course of the next four years will be available from ARPA. Once ARPA funding expires, the Village will be on solid financial footing to fund the positions on a longer term basis, as explained by Manager Marano.

Besides the human capital that is part of the budget, there are new initiatives in the plans, including lowering the CRS rating to save residents money on their flood insurance premiums, ensuring that drainage projects are shovel ready to make the Village eligible for funding opportunities, expanding the parks system and increasing the Fund Balance by $650,000. The figure initially presented was $700,000. However, in a unanimous vote by the Council, $50,000 were allocated from the $700,000 Fund Balance refund as the initial funding for a parkland acquisition fund.

Mayor Cunningham, joined by her colleagues on the Council, applauded Village Manager Nick Marano and staff for putting together a budget that truly represented the priorities that the Council, as a body, had put forward. "The components that you include here in the budget, you hit on every one of our strategic focus areas and you cover every single one of our top two priorities", said Mayor Cunningham urging the residents to read page 5 of the Budget Message, which outlines the items that the Council set forth as priorities for the Village.
Priorities in the newly Adopted Budget for Fiscal Year 2021-22:

  • Public Safety
  • Adds an additional Police Officer
  • Adds a canal patrol capability
  • Community Resiliency
  • Continues/expands CRS Rating reduction project
  • Design for several important Stormwater Projects (drainage)
  • Parks
  • Coral Reef Park Recreation Building (100% of the design and 50% of the construction costs funded over a two-year period)
  • The Woods
  • Veterans’ Park
  • Special Events
  • Including Village 20-year Anniversary
  • Enhances staffing to provide better information and services
  • Initial funding for Village Maintenance Fund
  • Sets aside funding for major replacements
  • Funds a parkland acquisition fund with an initial allocation of $50,000
  • Increases Fund Balance by $650,000 (our savings account)
Capital Improvement Projects in the newly Adopted Budget
for Fiscal Year 2021-22

Public Services Projects:
  • Stormwater Improvements: $1,900,000 (5 sub-basins)
  • Village-wide Traffic Calming: $150,000
  • Canal Survey: $145,000

Parks & Recreation:
Coral Reef Park:
  • Design & build nature education/ multipurpose building: 1,200,000 (over two years)
  • Walkway & trail improvements: $75,000
  • Sewer connection: $350,000
  • Wi-Fi connection: $55,000

Palmetto Bay Park:
  • Irrigation improvements: $100,000
  • Skate Park renovations: $150,000
  • Basketball courts update: $140,000
  • Walkway & trail improvements: $200,000

Community & Economic Development
  • Sewer study: $98,000
  • CRS Score Improvements: $115,000
  • Facade Improvement Program: $50,000
  • Permitting Software: $101,000

Other General Fund Projects:
  • Cybersecurity Review: $25,000
  • Server Upgrades: $100,000
  • Salary Study: $70,000
  • Parks Master Plan Update: $100,000
The final adopted budget will be published online and will be announced on the Village website and social media channels. Stay tuned...
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