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Bonita Springs finance director presents March report; council confirms budget calendar and timeline for millage votes
Summary
Finance Director Lisa presented the March financial report, highlighted a 7% year-to-date drop in half-cent sales tax and other revenue trends, and the council confirmed a budget calendar that includes required millage votes in July and September.
Finance Director Lisa presented the city’s March financial report and reviewed a proposed budget calendar the council confirmed as the guide for this year’s budget process.
Lisa said the presentation covered recurring revenues and year-to-date comparisons. “Half cent sales tax, that is down about 7%,” she told the council, and she said some other revenues were lower while interest income had increased. Lisa noted the city is six months into the fiscal year for the data shown and that ad valorem tax estimates lag changes in property values: “real estate taxes are based on January 1, the year before...we will…
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