Budget Challenge small

The Village of Wellington is starting the Fiscal Year 2017/2018 Budget process based on the development, implementation and evaluation of plans for the provision of services and capital assets.  The first phase of the budget process is presenting the overall Village Budget. The second phase, Departmental Budgets, will follow in a few weeks.

Highlights:

  • The total proposed FY 2018 Budget is $110.4 million as compared to the FY 2017 Budget of $89.5 million, including interfund transfers.  The $20.8 million increase from prior year is primarily due to specific multi-year capital improvement projects. The major projects include $3.5 million in projects funded by the voter approved sales surtax and $9.6 million to renew the Water Reclamation and Water Treatment Facilities. Additionally, Wellington’s operating costs are projected to increase by $4.5 million due to increases in ongoing operating costs and added services. 

 

  • The preliminary rates compared to FY 2017 are listed below:

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  • With a preliminary estimated 7.7% increase in the 2017 Taxable Value to $8,034,645,196, the recovery of Wellington home values provides Ad Valorem tax revenues, at the 2.43 mills rate, of $1.17 million more than 2017.  The revenue value of each .1 mill is $763,000 in 2018 compared to $709,000 in 2017. 

 

  • Total Revenues are projected to increase by approximately $6.3 million. The most significant increases include the Ad Valorem tax increase of $1.1 million at the 2.43 millage rate and $3.8 million in Intergovernmental revenue (one cent sales surtax, half cent sales tax, state revenue sharing, gas taxes, and CDBG funds).  Utility revenues are projected to increase by $727,000 mainly due to a 2.5% rate index on user water and wastewater rates.

 

  • The proposed 2018 Budget funds 313 full-time positions, 89,820 part-time hours, 2 supplemental positions, and 6 interns. Overall, the Village is reducing its full-time positions by 1 from 314 to 313 in FY 2018.

 

  • Capital Projects included in the proposed 2018 Budget include:

 

    • Acme Drainage Renewal ($740,000)
    • Expansion of Multiuse Path & Bike Lanes ($300,000)
    • Improvements to the Neighborhood Trails System ($300,000)
    • South Shore Blvd & Pierson Road Intersection Improvements ($477,000)
    • Replacement of the Peaceful Waters Boardwalk ($400,000)
    • Streetscape improvements and Village signage ($600,000)
    • Surface Water Management infrastructure improvements ($800,000)
    • Sales Surtax Capital Improvement Projects ($3.5 million)
    • Water Reclamation Facility Renewal ($6.6 million)
    • Water Treatment Plant Renewal ($2.9 million)

 

The Budget process will continue with distribution of Capital Project and Departmental Budget information in a few weeks.  Public Outreach to gain input from residents and stakeholders is also beginning with community forums, lobby surveys, and the Budget Challenge online survey on Wellington’s website, www.wellingtonfl.gov/survey