Freeport council schedules budget workshops, authorizes insurance amendments and flags utility rate increases starting Oct. 1, 2026

At the June 25 meeting the City Council set its budget-workshop schedule and approved related finance items affecting the coming fiscal year.

Workshops: After discussion about timing, council approved two workshops to review the fiscal year budget: the first on July 14 at 5:00 p.m. and the second on Aug. 3 at 5:00 p.m. Staff noted the timing differs slightly from past non-election-year schedules but aims to provide enough time for review before hearings.

Insurance and budget adjustments: Staff requested a budget amendment to cover an $8,117 premium adjustment from the Florida Municipal Insurance Trust (FMIT) related to the new community center being placed in service after the insurance period began; the council approved the amendment. Staff also requested authorization to sign FMIT closeout forms for fiscal-year insurance closeout; council approved signature authorization.

Utilities and financing: During the State of the City, staff reported the council adopted updated water and wastewater rates, with rate increases beginning Oct. 1, 2026 and scheduled annual increases through Sept. 2030. Staff also presented completed SRF loan documentation connected to a previously extended SRF loan (described as covering North Bay); council approved authorization to sign the loan documents. The transcript includes an ambiguous loan amount string ('54,60') that could not be confidently parsed from the record; staff follow-up is needed to confirm the precise loan amount and repayment schedule.

Ending: The council’s approvals enable staff to finalize insurance closeout paperwork, execute loan documents and continue budget preparations at the scheduled workshops.