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Boca Raton lays out FY24–25 budget priorities as revenues rise and public safety costs grow
Summary
Finance officials told the council the proposed 2024–25 operating millage is 3.6596, assessed valuation rose ~8.47%, and the general fund will see about $10.5M in revenue growth but roughly $20.8M in expenditure increases driven largely by police, fire and pension costs; staff proposed 11 new general‑fund positions and recommended continued conservative budgeting and periodic reporting.
City finance staff presented a high‑level FY24–25 general‑fund framework at the July 22 workshop, highlighting revenue and cost drivers and the proposed set of new positions and programs.
Finance Director Jim Zervis said the city's proposed operating millage rate for 2024–25 is 3.6596. Assessed valuation in Boca Raton increased about 8.47% year‑over‑year, producing estimated additional property‑tax revenue that accounts for most of the roughly $10.5 million revenue increase in the draft budget. "So the 24/25 operating millage rate is 3.6596," Zervis said.
Expenditures, however, are projected to grow faster than revenues—staff showed a roughly $20.85 million increase in total budgeted expenditures, driven principally by police and fire salary/benefit increases and a $5 million rise in police/fire pension costs related to prior labor agreements and contribution changes. Zervis noted that many of the expenditure increases reflect implementation of previously negotiated labor contracts rather than new policy decisions.
City staff identified about $2.42 million in new programs and roughly $932,000 for new general‑fund positions (11 full‑time positions citywide, plus nine additional non‑general‑fund positions). Among the listed positions were a grants specialist, park rangers, a homeless liaison police position, an environmental officer, an HRIS coordinator, and a construction project manager funded by the CRA.
Zervis also outlined projected fund‑balance dynamics: the city began the year with about $88.7 million in fund balance, expects a modest surplus this fiscal year and projects a September 2024 carryover in the range of $80.4–$90.6 million depending on implementation choices. He noted the projected reserves remain well above the Government Finance Officers Association (GFOA) recommended minimum of roughly 16.7% of operating expenditures even after planned drawdowns.
Council members asked for further breakdowns—how much assessed‑valuation growth reflects new construction versus market appreciation and the timeline for rolling out KPIs tying budget investments to the strategic plan. Staff agreed to return with additional detail and to coordinate budget hearings and workshops in the coming weeks before final adoption.
Next steps: staff will provide requested breakdowns of assessed‑valuation drivers, refine KPIs aligned to strategic priorities, and continue the public budget‑hearing process.
