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Punta Gorda staff presents five‑year financial plan; officials flag hurricane recovery and pension costs
Summary
Finance staff presented a five‑year pro forma showing reserve pressures if revenue growth slows, noting hurricane recovery costs, pension and insurance increases, and the need for rate adjustments and grant funding.
PUNTA GORDA, Fla. — City finance staff presented a five‑year long‑range financial forecast to the Punta Gorda City Council on March 19 and highlighted fiscal pressures tied to hurricane recovery costs, pension and insurance increases, and potential rate needs for utilities.
Finance Director Kristen Semillon (presenting) reviewed the pro forma for fiscal years 2025–2029. The presentation started from the adopted fiscal year 2025 budget and projected revenues and expenditures forward under a range of assumptions: a baseline 5 percent property‑tax increase used in the original pro forma, operating revenue growth…
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