The Sarasota City Commission held a workshop on July 23, 2024, to review the proposed Fiscal Year 2024-2025 budget. The total proposed budget is $305,644,916, a 6.6% increase from the prior year. Discussions covered internal service funds, trust funds, debt service, and the five-year Capital Improvement Plan (CIP) comprising 79 projects totaling approximately $178 million. The meeting was a working session with no formal votes taken.
Internal Service Funds: Fleet Services (beginning fund balance $947,857; proposed expenditures $5,689,567), Information Technology ($286,396 beginning balance; 2 new FTE requested – cybersecurity modules, application support administrator, and converting a contractor to FTE), Equipment Replacement ($7,093,248 beginning balance; planned expenditures $1,078,651), and Self-Insurance Funds (combined beginning balance $7,579,192; ending balance projected at $5,390,274). Commissioners questioned the police department’s use of outside fleet services, cybersecurity adequacy, and the declining balance of the General & Fleet Liability fund (ending at $7,489 after a transfer).
Trust Funds: Other Post-Employment Benefits (OPEB) fund beginning balance $50,028,392; expenditures $7,592,373 – officials noted strong fund management and 40% retiree enrollment in a Medicare Advantage plan. The 401(a) Defined Contribution Plan for general employees (beginning balance $42,976) is a closed plan covering administrative costs; 193 active members remain.
Debt Service: No new debt issues; existing bonds rated AA1/AA+ (Moody’s/Fitch). Outstanding governmental debt: $89 million (2024) projected to fall to $85 million in 2025. Proprietary debt outstanding: $92 million (2024) to $85.8 million (2025). Commissioner Ahearn-Koch noted the Bobby Jones Golf Course debt outstanding of $16.835 million should not require new borrowing if the clubhouse stays within the original $20 million.
Tree Violation Fines: Director of Development Services Lucia Panica explained that most tree removal fines go to the General Fund, not the tree replacement fund. Commissioners expressed interest in redirecting a portion to tree replacement. About 10-30 tree violation cases occur annually.
Five-Year Capital Improvement Plan (CIP): Total 79 projects, $178 million. Funding sources include Penny Sales Tax I-IV, multi-modal impact fees, gas taxes, and tourist development tax. Key discussions:
I'm having fun in Sarasota. I'm having fun. And I am lucky. With the sun and the sand in the sea. I love it more and more. I adore that beat off shore. I'm having fun. In Sarasona. I'm having fun in Sarasota with the sun and the sand and the sea. I'm having fun. With the sun, sand and the sea. I'm having fun in Sarasota with the sun and the sand and the sea. With the sun and the sand and the sea. I'm having fun having fun. And I'm lucky one with the sun and the sand and the sea. We're having fun in Sarasota with the sun and the sun. With the sun and the sand and the sun. Sarasota is unique. Beauty stands alone among the rest. Good morning. Um, I'm gonna call to order this Tuesday, July twenty-third City Commission budget workshop, and it's twenty twenty-four. Just in case you're watching it in two years from now. Okay. Good morning. My name is Kelly Strickland. I'm director of financial administration. We're on day two of our budget workshops, and we're gonna pick up where we left off for the internal service funds. In your work book, this is the green tab closer to the back. Um just touch it. He just touches it. I'm like, yeah. Okay. Okay. Our internal service funds have increased $940,000. And we have four internal service funds, which include fleet services. This is the garage that the city uses for the city's fleet. Information technology that provides all of the information technology for the city. The equipment replacement fund, which is the fund where we put funding to replace our equipment in a required period of time. And then our self-insurance fund, which is a combination of several. And we'll go through each of these. The first internal service fund that we're going to take a look at is fleet services, and that is on Tab 42. This fund is starting with a fund balance. Oh, and before I get started on internal service funds, the idea for internal service funds is to break even. Because they are providing a service for various departments within the city. We want to charge just the amount that we need to provide those services. And the most of the revenue comes from the other departments. They're paying into these funds. So the fleet services we're starting with a fund balance of 947,000. Our revenues are 5.8 million.6 million, leaving an ending fund balance of a million eighty-three. And now I'll turn it over to Mr.