North Miami tentatively sets millage at 7.4 mills; CFO reports first and second quarter finances

The North Miami City Council set a tentative maximum millage rate of 7.4 mills for fiscal year 2025–26 and scheduled the required budget hearings for Sept. 11 and Sept. 25, the council approved on July 8.

Angela Reyes, the city’s chief financial officer, presented the first- and second-quarter financial report. Reyes said first-quarter highlights included roughly $12 million in purchase‑order rollovers and about $13 million in reappropriations; general fund revenues were reported at 32% and expenditures at 26% for the first quarter. At second quarter close she reported general fund revenues at about 51% and expenditures at about 48%, and noted an interfund transfer related to the city’s ERP implementation.

Reyes recommended the city set the proposed tentative millage at the current 7.4 mills to meet the county’s deadlines for property tax calculations. The council voted unanimously to set the tentative millage “up to 7.4” and to schedule two public budget hearings on Sept. 11 and Sept. 25.

The CFO also reported operating account balance changes tied to TIF inflows and CRA refunds; the report indicated a net inflow of about $21 million in the first quarter and roughly $4 million in the second quarter.

Action: the council approved the tentative millage rate (up to 7.4 mills) and scheduled the two budget hearings by a 5–0 vote.