The finance director, Andrew Laughlin, presented an Ad Valorem analysis to the board, outlining various scenarios of millage rates and their corresponding financial consequences. The commissioners discussed the potential sacrifices in the city’s budget, particularly in areas such as city services and programs, if the millage rate were to be lowered. They sought clarity on how these changes would affect the city’s ability to fund its operations and future initiatives.

During the budget workshop, the board also revisited the topic of a $5 million parking garage project. Initially included as a placeholder in the budget, the commissioners decided to remove these funds due to uncertainties about the actual costs. They opted to finalize the budget without the parking garage funds and consider an amendment during the fiscal year 2025 based on more precise cost estimates.

Furthermore, the commissioners reviewed the allocation of funds across various city departments, including law enforcement and administrative services, which totaled $1.475 million. They went through the revenues and other inflows by character, such as taxes, permits, fees, and special assessments, and noted that the citywide budget would be in the positive by $5,357,939 if there were no capital project activities. This is despite having $15 million in capital outlays planned for the upcoming budget year.

Group insurance funding was another topic of debate, with a focus on the $74,000 budgeted for it. The commissioners considered whether this amount should exclusively cover salary, insurance, or a combination of both. They acknowledged that the budget for group insurance per full-time employee was set at $14,000, with varying amounts allocated for the mayor, commissioners, and other employees.

The inclusion of grants in the budget was addressed, with intentions to research and apply for various grants, including traffic grants. The possibility of adding boat docks to the budget was also mentioned. The commissioners hinted at plans to discuss the piers at John’s Pass Village and Rock Park in upcoming workshops.

Looking ahead, the board planned for the August workshop to focus on finalizing the entire budget document, including the city manager’s message and additional narrative on the budget itself. Other items on the agenda for future discussion included the bid for the Honor Court and the potential addition of more piers at the marina.

The budget workshop highlighted the conscientious approach the commissioners are taking toward balancing the city’s financial health with the needs and aspirations of the community. They demonstrated a keen awareness of the trade-offs involved in budgetary decisions, particularly in the context of the millage rate and its broader implications for the city’s fiscal stability and service provision.

The significant role of property taxes as the largest revenue source for the general fund was underscored, prompting a examination of the potential consequences of modifying the millage rate.