Riviera Beach reviews $120.5 million tentative FY2026 budget; millage unchanged at 8.35 mills

Riviera Beach city leaders reviewed the proposed fiscal year 2026 tentative budget at a city council budget workshop on Aug. 18, during which staff said the millage rate will remain at 8.35 mills and the tentative general fund revenue total is about $120,500,000.

City Manager Jonathan Evans and Chief Financial Officer Randy Sherman told the council the city’s assessed valuation rose roughly 8.14 percent to about $9.5 billion, producing an estimated $75.4 million in ad valorem (property tax) revenue. “I think we’re in pretty good stead,” Randy Sherman said, describing reserve levels and days-cash-on-hand.

The budget keeps the millage at the FY2025 level and includes recurring transfers the city cannot change: a roughly $9.4 million tax increment (TIF) transfer to the Community Redevelopment Agency (CRA) and an approximately $1.1–$1.3 million transfer to the major disaster fund (transcript references $1.3M by Mr. Evans; Mr. Sherman said $1.1M transferred on day one). City staff also budgeted $4.25 million for pay-as-you-go capital (one-time infrastructure items such as milling and resurfacing).

Why it matters: the tentative budget bundles operating, utility and enterprise funds and frames several near-term policy choices — whether to shift property-related non-ad valorem assessments from utility bills to the property tax bill, how to address pension underfunding, and how to finance a new water treatment plant — that will affect residents’ bills, capital project timing and reserve levels.

Key numbers and context - Millage rate: 8.35 mills (unchanged) - Assessed valuation: cited at about $9,500,000,000 - Ad valorem revenue estimate: $75,400,000 - CRA/TIF transfer: roughly $9,400,000 (budgeted transfer on Jan. 1) - Major disaster fund transfer: $1,100,000–$1,300,000 (transcript contains both figures) - Pay-as-you-go capital: $4,250,000 - Tentative general fund revenues: $120,500,000 - Combined city budgets (all funds): approximately $214,600,000 for FY2026

Reserves, ratings and comparisons Sherman highlighted the city’s general fund reserve (about 39.5 percent of one year’s revenues) and said Riviera Beach carries roughly 155 days of cash on hand at Sept. 30 in his example. He also noted the city holds two double-A credit ratings, a…