At the final budget hearing of the Midway City Council last Tuesday night, the council passed a millage rate (used to calculate property taxes) for fiscal year 2018-2019 of 5.0000 mills – 4.46 percent higher than the rolled-back rate of 4.7864 mills, which would have generated the same amount of property tax revenue as last year.
The council also passed the proposed budget for the upcoming fiscal year, as well.
The Midway budget is balanced with $2,213,985 in expected revenues and $2,213,985 in expected expenditures.
The greatest source of expected revenues is a $700,000 Community Block Development Grant. The city also expects to collect $686,549 in ad valorem property taxes and $547,446 in shared state revenues.
In terms of expenses, $282,930 is earmarked for police operating costs; $236,114 for administrative expenses; $195,003 for public works; $133,157 for general liability; $107,888 for building and planning; $107,116 for the Midway City Council; and $103,955 for police administrative expenses.
A copy of the budget summary can be found on Midway’s website, www.mymidwayfl.com. A copy of the full budget is on file in Midway City Hall and can be reviewed as a public record.
Special to the Herald
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