Lake County FY 2020 Millage Rates and Budget Summary
Explore the certified property values, general fund summary, and recommended budget for Lake County in Fiscal Year 2020. Understand the proposed millage rates, public hearing dates, and budget allocations for various county departments and services.
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Presentation Transcript
FY 2020 MAXIMUM MILLAGE RATES July 16, 2019
PURPOSE Establish the Maximum Millage Rates to be included on TRIM notices and approve public hearing dates and times
OUTLINE Certified Property Values General Fund Summary FY 2020 Recommended Budget Summary Proposed Millage Rates Public Hearing Dates Requested Actions
CERTIFIED PROPERTY VALUES FY 2019 Final Values FY 2020 Certified Values Percent Change Lake County General Fund Countywide Millage $20,635,656,678 $22,402,292,253 8.56% Lake County Ambulance MSTU $20,635,656,678 $22,402,292,253 8.56% Lake County Stormwater, Roads, Parks MSTU $9,828,785,941 $10,513,628,048 6.97% Lake County Fire Rescue MSTU $10,381,221,595 $11,128,988,619 7.20% Lake County Public Lands-Voted Debt $20,635,656,678 $22,402,292,253 8.56%
FY 2020 GENERAL FUND SUMMARY Based on a status quo millage, an additional $8,806,382 in ad valorem revenue will be generated in FY 2020 Proposed Additional/Requested Expenses Community Redevelopment Areas $469,749 County Departments/Offices $1,148,033 General Fund Reserves to 7% of Operating Budget (Board minimum) $1,166,908 PO Carryforward Reduction ($780,381) Constitutional Offices/Judicial Support/Medical Examiner $11,092,614 Additional Sheriff Revenue ($2,121,974) Additional Miscellaneous Revenue ($410,531) Reduction in Beginning Fund Balance $2,198,714 Current Budget Deficit - $3,956,750
FY 2020 RECOMMENDED BUDGET SUMMARY Status Quo General Fund Millage Rate (5.1180) Total FY 2020 Proposed Budget - $441,978,714 FY 2019 Adopted Budget $454,282,768 Total FY 2020 Proposed Operating Budget - $349,086,479 FY 2019 Adopted Operating Budget $347,732,530
FY 2020 RECOMMENDED BUDGET SUMMARY Fully funds County operations Fully funds Judicial Support, Clerk of Courts, Property Appraiser, Tax Collector*, Supervisor of Elections and Medical Examiner Additional $3.3 million (net of additional revenue) to the Sheriff Remaining $125,713 to Reserves * Tax Collector s budget based on FY 2019 Adopted Budget (FY 2020 budget due August 1)
PROPOSED MILLAGES FY 2019 Adopted FY 2020 Proposed Difference between FY 2019 and FY 2020 Lake County General Fund Countywide Millage 5.1180 5.1180 0.0 Lake County Ambulance MSTU 0.4629 0.4629 0.0 Lake County Stormwater, Roads, Parks MSTU 0.4957 0.4957 0.0 Lake County Fire Rescue MSTU 0.4704 0.4704 0.0 Total Millage 6.5470 6.5470 0.0 Lake County Public Lands-Voted Debt 0.1324 0.1324 0.0
PUBLIC HEARING DATES August 1 Tax Collector s Budget Due September 10, 2019, at 9:00 am Assessment Public Hearings September 10, 2019, at 5:05 pm First Budget Public Hearing September 24, 2019, at 5:05 pm Final Budget Public Hearing
REQUESTED ACTIONS Establish Maximum Millage rates to be included on TRIM Notices: FY 2020 Proposed Rate Millage General Fund 5.1180 Lake County Ambulance MSTU 0.4629 Lake County Stormwater, Roads and Parks MSTU 0.4957 Lake County Fire MSTU 0.4704 Public Lands Voted Debt 0.1324 Approve public hearing dates and advertisements September 10, 2019, at 5:05 p.m. September 24, 2019, at 5:05 p.m.
