FY 2025 BUDGET BOOK - Flipbook - Page 23
Current monthly rates are $6 for residential and $12 for commercial consumers. This fund is
unsustainable with current rates.
Additional Points of Interest
The budget includes several programs that the City maintains by policy for the benefit of the
public and the enhancement of the City’s image. Revenues for these services do not necessarily
cover costs and do require an annual commitment to continue. Major examples are as follows:
1.
Economic Development Incubator:
a) During FY 2022/23, the City established a collaborative business incubator project with
Lake County, the University of Central Florida, and MEGA Properties. This agreement
empowers the City’s Economic Development Department to extend assistance to emerging
businesses, startups, and entrepreneurs, fostering the creation of new jobs and promoting
economic expansion within the City. The incubator framework facilitates valuable
networking prospects, host events, and conduct workshops aimed at cultivating robust
business relationships and fostering a supportive entrepreneurial ecosystem.
b) Over a span of three years, the City will receive $450,000 from Lake County to facilitate
this initiative. This grant from Lake County helps contribute to the successful execution of
the program. The operation of the incubator is facilitated by the University of Central
Florida Research Foundation (UCFRF), which plays a significant role in its administration.
2. Greenwood Cemetery:
a) The City has budgeted funding in FY 2024/25 for cemetery improvements to include design
and construction of landscaping and grounds beautification.
b) Annual revenues are budgeted at $18,275 (Greenwood Cemetery, page 323).
c) The current required reserve balance is $238,278.
d) The General Fund’s annual operating expenditure for the cemetery is $43,860.
3.
e) In FY 2022/23, the City Commission modified the fee structure.
Community Events:
a) The budget includes $1,115,119 (CM Events & Tourism Expenditures, page 146) in
expenditures for a wide array of City events, festivals, activities, and celebrations, which
will attract visitors and help provide economic stimulation within the City. The City funds
most of all events with a small amount raised by sponsors.
b) Several City departments, including Fire, Police, Parks and Recreation, and Public Works
incur the time and overtime costs for these events which are absorbed into the respective
departmental budgets.
4. Parks & Recreation:
a) The annual operating budget for the department is $2,324,386 (Parks & Recreation
Expenditures, page 213). Capital outlay for Parks and Recreation is $395,000
in the
General Fund with an additional capital outlay of $783,000 in the Capital Improvement
Projects budget in the Sales Tax Capital Projects Fund (Capital Projects Parks & Recreation,
page 229).
5. Additional information can be found on the City’s website: https://www.eustis.org/ and the
City’s Facebook page: https://www.facebook.com/CityofEustis.
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