Board Appoints Budget Committee

During our July 8, regular meeting, upon my recommendation the City Commission unanimously approved the appointment of a Budget Committee.

As reported by the Property Appraisal’s Office projected for next year the City of Apalachicola will experience a 10.6 percent decline in the taxable value of property. This reduction is due in part to a sluggish real estate market and to legislation passed by voters aimed at reforming Florida’s property tax codes.

As we prepare for tough economic times ahead, we must adopt ways and means that ensure an open and transparent budget process and make certain that spending levels reflect current fiscal conditions.

The creation of the five member Budget Committee includes Frank Cook, Finance Commissioner. The appointees all have strong backgrounds in finance and business. Two appointees will serve on the Committee for a two-year term and two for a four-year term. The committee will activate and serve during the annual development of the City’s budget. The Budget Committee’s role in this process will be to help assure that the City’s budget and fiscal practices are in harmony with each other and with current economic conditions.

Specifically, the Budget Committee will review last year’s budget to actual income and expenses in all departments including grants and engineering services. They will also review the limitations on revenue that have been established by the legislature and determine the net effect this will have on the City’s revenues and review staff’s recommendation for a 2008-09 budget.

Lastly, the Committee will make recommendations to the city commission for a budget using the principle of “zero based budgeting” as a guide and make, any additional recommendations the committee thinks would improve the overall fiscal operation of the city.