TREASURE ISLAND, Fla. – The city has unveiled its proposed FY25 budget, emphasizing financial stability and the completion of long-planned projects. The budget aims to maintain essential services while addressing key community needs.
Key Points:
- Maintains Property Tax Rate: The property tax rate will remain at 3.8129 mills, with 3.2129 mills allocated for general operations (unchanged since 2010), 0.50 mills for causeway and bridge improvements, and 0.10 mills for city facilities and equipment.
- Focus on Infrastructure: The budget includes significant investments in infrastructure projects, such as the Central Beach Trail extension, seawall repairs, and fleet electrification.
- Employee Compensation: New collective bargaining agreements with police and fire/EMS employees will improve compensation and raise starting pay for sworn officers and firefighters. General government employees will receive a 3% cost of living adjustment and potential merit raises.
- Multi-Year Plan: The budget continues the city’s multi-year plan to replace and improve facilities, including the Master Lift Station, Treasure Bay facility, Public Works Facility, and Public Safety building.
- Financial Stability: The budget prioritizes financial stability through conservative revenue projections and maintaining appropriate fund balances to protect against economic fluctuations.
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Finance Director Mike Munger stated, “This FY25 Proposed Budget is setting up the city to wrap up some long-planned projects outlined in the 2020-2025 Strategic Plan while clearing the slate to plan for the next five years. The city’s finances and fiscal projections still look strong and stable, and suitable to be able to meet all the needs and demands of the community. Yet the city has faced and is still facing several unique challenges affecting our operations.”
The Treasure Island City Commission will hold a budget meeting on August 2nd at 10 a.m. at City Hall. Residents are encouraged to attend and provide feedback.
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