Budget-In-Brief → buDgeT oVerView●●Equity and Social Services: Budget decisions also play a role in promoting equity and inclusion.Funds can be allocated to support underserved populations, improve access to resources, andaddress disparities within the community.Accountability and Reporting: Budgets establish a framework for accountability, as expenditures are tracked and measured against expected outcomes. Transparent reporting ensures thatthe community can assess how resources are being utilized to support their priorities.The process of making municipal budget decisions is a vital component of governance that directlyimpacts the well-being of both the organization and the community it serves. By aligning resourceswith organizational goals, prioritizing community needs, and fostering transparency and publicengagement, the City of Eustis can effectively allocate funds to support a thriving and sustainablecommunity.Budget ProceduresFlorida Statute Sec. 166.241 requires that municipalities establish a fiscal year beginning October1 and ending September 30. In accordance with the Charter of the City of Eustis, the City Managershall prepare and recommend to the City Commission a budget for the next succeeding fiscal year.The City of Eustis’ annual budget is a public policy process resulting in a fiscal plan for the allocation of municipal resources to achieve results in specific programs. The Finance Department coordinates the budget process which begins in February and ends in September. This process combinesfinancial forecasting and fiscal strategizing to identify challenges, opportunities, causes of fiscalimbalances, and the development of a long-term financial plan that ensures fiscal sustainability.The process is designed to identify service requirements, develop strategies to meet those needs,provide available resources, and allocate appropriations to execute a plan to meet the servicerequirements in alignment with City Commission goals and objectives.The budget is prepared with reference to the operational requirements and capital outlays neededto provide for the needs and growth of the City, specifying anticipated sources and amounts ofrevenue as well as expenditures. The City generally desires to live within its means by keepingongoing operating costs at or below anticipated operating revenues. A recurring challenge thatfaces the City is the ability to provide sufficient funding for responsible operations and maintenance of the services provided and to hire and retain an excellent workforce through a competitive employee compensation package. As the General Fund provides the funding for the primarygovernmental services, special attention is paid to this fund. The main financial resource for thisfund is Ad Valorem taxes, derived from property values throughout the City. The City fully strivesto diversify its revenue base if possible. As the Water and Sewer Utility Fund is an enterprise fundoperated in the same manner as a business, the legally enacted budget for this fund is developedto provide financing for anticipated operating and capital needs.Budget AdoptionThe City’s budget is adopted by the fund at the object level through resolutions at a public hearingheld during the first and last scheduled City Commission meeting each September. Upon finaladoption, the budget is in effect for the fiscal year, with the amounts stated therein being appropriated to the objects and purposes named therein.Public participation in the budget process is encouraged. Prior to adoption, the City Commissionholds several public budget workshops to review the major issues, programs, and capital projects tobe included in the adopted budget. In addition, there are two public hearings in which the citizensBack to TOCCity of Eustis, FloridaAdopted Budget97
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