The following is provided to understand the district’s annual budget process, what will happen and when.
The Forest Creek Annual Budget is prepared and approved following Florida Statute 190.008.
- May21st, 2019- Proposed Budget Presentation:
- The state statute stipulates that by June 15th the District Manger present the “Proposed Budget” to the Board of Supervisors.
- The proposed budget for FY 2019-2020 will be presented to the Forest Creek CDD Supervisors by Rizzetta, our management company, at the regularly scheduled meeting on May 21stat the New Hope Baptist Church at 6pm. The Proposed Budget will be available (posted on the CDD’s website) prior to the May 21stAt that meeting the District Supervisors will approve a proposed budget and begin the final budget development process which will have several milestones (see below).
- Between the May 21stmeeting and August public hearing(s), each resident will receive a hardcopy of the approved proposed budget in the mail. The budget process will consider and refine all proposed items during the next few months in preparation for the public hearing(s) in August.
- The proposed budget consists of recurring Operations and Maintenance (O&M), Reserve Account, bond/debt servicing, and if any, non-recurring capital projects.
- Goal is to hold overall Recurring O&M the same as prior years
- The reserve account will increase one more time next year, per the most recent Reserve Study completed on March 5, 2019, with only inflationary increase in future years from 2021 to 2039.” This information is summarized in the Executive Summary under the recent Reserve Study, on Page 1.2.
- Bond/debt servicing is a non-discretionary fixed amount.
- Non-recurring capital projects, if any, for the next fiscal year will be thoroughly evaluated and public comment garnered.
- By state statute – “The proposed budget prepared by the District Manager shall include at the direction of the board an estimate of all necessary expenditures of the district for the ensuing fiscal year and an estimate of income to the district from the taxes, assessments, and other revenues provided in this act. The board shall consider the proposed budget item by item and may either approve the budget as proposed by the district manager or modify the same in part or in whole. The board shall indicate its approval of the budget by resolution, which resolution shall provide for a hearing on the budget as approved.”
- Manatee County Submission(60 days prior to adoption):
- District shall submit the proposed annual budget to Manatee County for the purposes of information and disclosure.
- August 2019 – Public Hearing on “Proposed Budget”:
- Public Meeting(s) in August, date TBA, will be held specifically for the purpose of garnering any resident and/or public inputs on the proposed budget. Any updates to the proposed budget will be available (posted on the CDD’s website) prior to the hearing.
- By state statute – “Notice of the hearing on the budget shall be published in a newspaper of general circulation in the area of the district once a week for 2 consecutive weeks, except that the first publication shall be not fewer than 15 days prior to the date of the hearing. The notice shall further contain a designation of the day, time, and place of the public hearing. At the time and place designated in the notice, the board shall hear all objections to the budget as proposed and may make such changes as the board deems necessary.”
- NLT September 30th– Enacted Budget:
- Forest Creek Board of Supervisors shall adopt the annual budget prior to October 1st in enough time to meet the Manatee County tax input.