CEPD sets tentative millage rate, budget at hearing
The Captiva Erosion Prevention District adopted a tentative millage rate of 0.2984 and budget of $455,186 for the upcoming fiscal year at its first budget hearing.
On Sept. 13, the board of commissioners voted unanimously 4-0 for the proposed rate – an increase from the rolled back rate of 0.2626 – and general fund budget for 2018-2019, which starts Oct. 1. The board will revisit both at its second and final budget hearing on Sept. 27, when the final vote is taken.
Millage rates can be lowered prior to their final approval, but not raised.
The Lee County Property Appraiser’s Office has certified for the CEPD that the “gross taxable value for operating purposes” – not exempt from taxation – within Captiva is $1,452,432,311 billion.
“This represents a 0.0358 increase over the rolled back rate,” Chairman Dave Jensen said of the tentative millage rate.
A mill is $1 per every $1,000 of taxable valuation. The rolled back rate is the rate it would take to generate the same amount of revenue in the coming fiscal year as was generated in the previous year.
Administrator Damon Grant noted that the taxable property value went up from last year.
He added that the increase will bring in about $50,000 in additional funding.
“The referendum is an expensive line item for our budget,” Grant said of the coming year.
In addition, the CEPD has promoted its assistant to the administrator position from part-time to full-time as the duties have broadened and will continue to do so, plus there were insurance increases.
“For the most part, the budget remains the same,” he said.
The tentative $455,186 budget is an increase over the $364,101 budget for 2017-2018. It includes $195,000 in administrative expenses, $4,000 for capital outlay equipment, $155,000 for consulting and professional fees and $11,500 for collecting ad valorem taxes, with $89,686 for operating reserves.
“Given the important role the CEPD played in clearing the fish kills from the beaches,” Vice Chair Mike Mullins said, also pointing out the ongoing beach monitoring and upcoming beach renourishment project it is overseeing. “I think it’s important that we have a healthy budget to get these jobs done.”
Secretary Harry Kaiser had an excused absence from the budget hearing.
The final hearing will take place at 5:01 p.m. at the South Seas Island Resort.