Bonita Springs finance director presents March report; council confirms budget calendar and timeline for millage votes

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 receive our initial estimate for our next year Abellorum taxes as of June 1,” she said.

On the calendar, Lisa outlined key dates: an initial budget workshop on Wednesday, June 18 at 4 p.m.; a July 16 meeting where Florida law requires the first of three millage-rate votes and the stormwater-utility vote; a tentative budget hearing on Wednesday, Sept. 3 at 5:30 p.m.; and a final budget hearing on Wednesday, Sept. 17 at 5:30 p.m. She told council that Florida statutes require the two September meetings to occur at 5:01 p.m. or later.

Lisa also summarized restricted revenues and cash balances for capital improvements, noting that the city has reserved funds for debt service and “the $2,000,000 that we have for operational disaster monies that we receive from the state. It is sitting in the bank if we should need it,” she said.

Council member Nigel asked about investment strategy; Lisa replied that most funds are invested conservatively in treasuries and bonds “per Florida statutes,” and that the city expects interest income to be higher though it does not necessarily budget the full increase.

During public comment, resident Ben Harrison urged the council to consider increasing the stormwater utility fee, noting the history of flooding and saying, “I’m seriously hoping that the council will give consideration to increasing that fee.” The council did not act on rate changes at the meeting; council members confirmed the budget calendar and agreed to incorporate updated state estimates into later budget presentations.

The schedule sets the statutory milestones for millage votes and the stormwater vote; staff said updated state revenue estimates arrive during the process and will be reflected in subsequent meetings. Council members asked staff to proceed with the calendar and bring future budget updates as new data becomes available.