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Wellington Presents Preliminary 2018 Annual Budget

Post Date:06/29/2017 4:58 PM

The Village of Wellington is preparing 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 personnel and operating costs. 

The preliminary rates compared to FY 2017 are listed below:

budget

  • The 7.7% increase in the 2017 Taxable Value to $8,034,645,196 provides Ad Valorem tax revenues, at the 2.43 mills rate, of $1.18 million more than 2017.  The revenue value of each .1 mill is $763,000 in 2018 compared to $709,000 in 2017.  Using an averaged assessed value of $307,500 at the proposed 2.43 millage rate, homesteaded property taxes would increase by $15 from prior year.  Non-homesteaded property taxes would increase by $53 from prior year.
     
  • Total Revenues are projected to increase by approximately $6.3 million. The most significant increases include the Ad Valorem tax increase of $1.18 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 $500,000 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:
     
  • South Shore Blvd & Pierson Road Intersection Improvements ($477,000)
  • Water and Wastewater Facility Renewals and System Wide Renewals & Replacements ($19.7 million)
  • Expansion of Multiuse Path & Bike Lanes ($300,000)
  • Improvements to the Neighborhood Trails System ($300,000)
  • Streetscape improvements and Village signage ($600,000)
  • Surface Water Management infrastructure improvements ($800,000)
  • Acme Drainage Renewal ($740,000)
  • Replacement of the Peaceful Waters Boardwalk ($400,000)
  • Sales Surtax Capital Improvement Projects – Rebuild of Community Park ($2.4 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.
 
As another way to stay informed on the latest news and updates from the Village, residents are invited to sign up for Wellington information and updates at www.wellingtonfl.gov/enews.
 
For information about other Wellington programs, events, activities, and updates, please visit www.wellingtonfl.gov or watch WellingtonTV for the latest happenings.

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