The City of Palm Coast announces key dates for the Fiscal Year 2025 budget review and approval process. As part of their ongoing commitment to transparency and civic engagement, they invite residents to follow along and participate in developing the city’s financial plan.
Budget Review Timeline:
- 7/16/2024 – Adoption of the Maximum Millage Rate:
The City Council will adopt the maximum millage rate, setting the highest possible property tax rate and determining how much money the city can collect from these taxes.
- 7/23/2024 – Review of Proprietary Funds
There will be a Proprietary Fund Review, during which departments managing proprietary funds present their FY25 budgets. This review is crucial as it evaluates the main fund that covers most water, wastewater, and stormwater services and operations.
- 8/13/2024 Internal Services, Capital & All Other Funds
Departments responsible for Capital Funds, Fleet, and other special revenue budgets will present their financial plans, ensuring that funds for current internal operations and future capital projects are adequately reviewed and secured.
- 8/27/2024 Final Proposed Budget – All Funds
The complete budget for all funds will be presented to the council for a comprehensive review, allowing them to examine the city’s financial plan for the upcoming year.
- 9/5/2024 Public Hearing – Adoption of Tentative Millage Rate and Budgets
The city council is tentatively set to adopt the preliminary millage rate and budgets for the next fiscal year. The tentative adoption will provide a foundation for finalizing the city’s budget and financial plans.
- 9/18/2024 Public Hearing – Final Adoption of Millage Rate and FY25 Budget
The city council will finalize the adoption of the millage rate and the FY25 budget. The decisions will establish the city’s financial priorities and ensure the effective management of public resources for the coming year.
In addition to these key dates, we encourage residents to engage with our Financial Transparency Dashboard. This tool provides detailed insights into how we allocate budgets and collect revenue, featuring interactive charts, graphs, and tables to enhance understanding and involvement in our city’s budget process.
The dashboard is updated weekly to ensure the most current data is available. It includes information for the current fiscal year 2024 (October 1, 2023, through September 30, 2024) and comprehensive reports for the previous three fiscal years.
Access the Financial Transparency Dashboard by clicking here.
Helena Alves, Palm Coast Director of Finance, emphasizes the value of this resource: “The Financial Transparency Dashboard is a key tool for all Palm Coast residents wishing to understand how public funds are managed. It facilitates a deeper connection between the city’s financial decisions and community interests.”
We encourage all residents to use this dashboard to track how their tax dollars are being used and to participate actively in the budgetary process. It’s a powerful way to engage with and contribute to the decisions that shape Palm Coast’s future.
