(Palm Bay)--City Manager Sue Hann announces the finalization of the proposed fiscal year 2012 budget that will be voted on by the City Council on Thursday, September 22nd following a public hearing that will begin at 6:30 p.m. in Council Chambers. The proposed budget includes up to 9 furlough days that have been approved by the collective bargaining groups representing the City's union employees. The furloughs, which will affect all employees, helps close a budget shortfall that resulted from a 23.6 percent drop in property values over the prior fiscal year. "It has been an extremely difficult budget cycle," said City Manager Sue Hann. "However, this budget represents a balance of City employees, residents and business each making sacrifices to ensure Palm Bay remains strong even while facing financial challenges. I am very proud of our City staff and I am honored by their commitment to Palm Bay."
In summary the proposed General Fund 2012 budget totals $55,641,960. The budget reflects a property tax rate of 9.0 mills, increased from 7.5000 mills, but projected to bring in $1,875,538 less in property taxes than last fiscal year. "Our budgeting and operating strategies will need to be different in the future and Palm Bay's employees are prepared to be innovated and creative in our approach to the business of local government," Hann added.
The City continues to pursue grant opportunities to support roads, police, fire personnel and equipment and economic development incentives to create jobs and improve the local economy.