Milton recently shared financial data showing the city has 18.2% more than expected in Fiscal Year 2021 revenues, adding up to over $3 million.
More than half of this comes from $1.65 million in federal CARES Act funding the city will use to reimburse the city’s General Fund for FY2020 expenses related to the pandemic.
Other revenue categories exceeded projections. These include $492,016 in property taxes, $281,238 in motor vehicle taxes, and $177,549 in local option sales taxes. On top of this, the city had fewer expenditures than originally estimated.
In Milton, excess revenues must be spent on one-time expenditures that won’t recur. As a result, the city will transfer $7.7 million to the “pay-as-you-go” program in the Capital Projects Fund. This includes $4 million for the acquisition of active park land, $1.35 million to purchase a new ladder truck, a vehicle for the Assistant Fire Marshall, and to maintain the annual replacement reserve in the Milton Fire-Rescue Department. Another $1 million will fund improvements to city-owned passive/greenspace properties, $1 million for traffic calming measures, $300,000 for a bid alternate in the current pavement management plan, and $60,000 for new vehicles for the Community Development Department’s to-be-hired Chief Building Official and Building Inspector.
Additional budget amendments will address staffing changes, staff development, website transparency measures, and costs related to active park analysis and land acquisition.
About the Author
The Latest
Featured
