Bradenton Beach commissioners have approved the first reading of the 2024-25 municipal budget

Bradenton Beach commissioners have approved the first reading of the 2024-25 municipal budget during their Sept. 5 meeting at city hall, located at 107 Gulf Drive N. Additionally, the commission gave its initial approval to a budget ordinance for the community redevelopment agency (CRA) during the same meeting.

City treasurer Shayne Thompson presented the proposed municipal budget, which outlines total expenditures of $4,857,954, based on the decision to maintain the current 2023-24 millage rate of 2.3329. A rollback rate of 2.1447 would be necessary to avoid a property tax increase and keep revenues steady, but the city chose to continue with the existing rate. This will generate $2,537,083 in ad valorem taxes, an increase from last year's $2,230,288. The city’s taxable property value has been certified at $1,087,523,358.

The proposed budget includes salary increases for city employees and an adjustment to the city’s longevity policy. It also prioritizes building up reserves by $250,000, a measure critical for emergency preparedness. Police Chief John Cosby has highlighted the need for the city to maintain a strong financial cushion in the event of a disaster, as federal aid could take up to six months to arrive.

Administrative costs will rise by $74,254, driven by salary increases, higher retirement contributions, and increasing wind and flood insurance premiums. The commission’s budget remains largely unchanged, except for a significant increase in legal fees, which will rise from $4,000 to $20,000 per month.

The police department will see its budget increase by $141,043, largely due to salary and retirement contributions. Other departments, such as code enforcement, planning, and stormwater maintenance, will experience smaller increases in their budgets.

Overall, the proposed general fund expenditures for the 2024-25 fiscal year are $4,857,954, representing a $359,969 increase over the current year’s budget.

In addition to the city budget, commissioners also approved the first reading of the CRA budget. The CRA funds projects such as underground utility work, sidewalk installations, lighting improvements, and parking enhancements. For 2024-25, CRA expenditures are projected to decrease to $344,606 due to the postponement of certain capital projects.

Both budget items were approved with a 4-0 vote, as Commissioner Marilyn Maro was absent from the meeting. Final public hearings and votes on the city and CRA budgets are scheduled for Sept. 12 at 5:30 p.m. at city hall.

The new fiscal year will begin on Oct. 1.