1. September 8, 2014

2.  Tentative Millage Rate  City Finances  General Fund ◦ Revenues and Expenditures  Budget Outlook ◦ Changes  Property Taxes  Questions

3.  The tentative millage of 6.825 is a 3.5% increase over the rolled-back rate of 6.5945.  The tentative millage rate is the same millage rate currently in effect for the City of Sanford.

4. City-wide Budget $92.6  Governmental Funds ◦ General Fund (1) $39.1 ◦ Special Revenue Funds (19) $5.6 ◦ Capital Project Funds (3) $2.6 ◦ Debt Service Fund (1) $1.8  Enterprise Funds (7) $36  Internal Service Funds (2) $6.4  Trust Funds (2)  Component Units (2) $1.1

9.  The Commission has provided the following tax reductions since 2008 over 2008: ◦ 2009 - $ 702,084 ◦ 2010 - $ 3,110,022 – even with an increase in the millage ◦ 2011 - $ 3,967,098 ◦ 2012 - $ 4,408,525 ◦ 2013 - $ 4,803,892 ◦ 2014 - $ 4,721,099 ◦ 2015 - $ 4,020,566 ◦ Total - $25,733,286 During the roll-up years of 2009 through 2013, an increase in the millage would not have necessarily equaled a property tax increase and could have still equated to a tax decrease.

14. Comments or Questions?