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.
