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Lynn Haven sets millage ceiling at 4.5; finance staff warns cushion will be needed for debt service
Summary
Facing debt-service pressures and a projected shortfall, the Lynn Haven commission set a millage-rate ceiling of 4.5 and approved related budget amendments and utility fee changes; finance staff said a large portion of the city's $19 million balance is earmarked for bond debt service.
The Lynn Haven City Commission set a millage ceiling of 4.5 and approved several fiscal items after a finance briefing that highlighted near-term cash pressures.
Kiki Roman, director of finance, told the commission the city faces a near-term negative cash position of roughly $315,000 and will carry debt-service payments of about $2.8 million into fiscal 2026. Roman recommended setting a…
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