The Council approved a millage rate of 4.1876, which is the third straight budget with that rate. The proposed FY 2024 budget totals $165.8 million for all funds, which is an increase of $18.2 million or 12.4% over the FY 2023 budget. The proposed General Fund budget will increase by $19.8 million or 30.3% compared to last year’s budget.
To read an analysis of the budget/millage rate, go here.
According to the City website, significant factors in the proposed budget include:
• The City’s tax base increased over $828M, which provided an additional $3.3M in ad valorem tax revenue.
• The General Fund budget is balanced using $8,097,157 of the assigned capital reserves.
• 34 new full-time positions have been added.
• Performance-based merit pay up to 6% included for all full-time employees.
• Significant capital costs in the General Fund budget include: fire truck [$1.7M], public safety radios [$2.1M], transfers to streets for sidewalk and paving improvements [$2.2M), public safety vehicles [$1M], parks and recreation equipment and improvements [$550K] and facility capital improvements [$590K].
• Street improvements, new traffic signals, street resurfacing, new sidewalks and, sidewalk repairs.
• Water, wastewater and reclaimed water infrastructure improvements.
• Health insurance costs increase of 12%.
• Property, liability and worker’s compensation insurance increased 4.9%.
"Last fiscal year we invested time and resources into expanding our economic development efforts, planning for the future, and keeping our community safe. This year we will continue to focus on economic development, sustainability, and community safety as these proactive measures will position us for future success. Balancing our valuable employees’ needs and keeping in mind the financial impact that our residents are facing, the Fiscal Year 2023-2024 budget is balanced using a combination of reserves, service rate increases, and no increase in the property tax rate. We believe this budget represents a sound financial and operating plan that addresses Apopka's priorities while continuing to provide an outstanding level of service our residents have come to expect."