CEPD approves millage rate, budget for next fiscal year
The Captiva Erosion Prevention District adopted its final millage rate of 0.2984 and budget of $455,186 for the upcoming fiscal year at its second and final budget hearing.
On Sept. 27, 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.
“We’ve been working on it for awhile,” Chairman Dave Jensen said.
“We were fine with it,” he added.
Vice Chair Mike Mullins echoed that sentiment.
“I think it’s great that it passed,” he said. “There’s a lot to do.”
He cited the CEPD’s growing responsibilities on beach monitoring, water quality and fish kills.
The approved millage represents a .0358 increase over the rolled back rate.
The finalized $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.
“Looking forward to next year,” Administrator Damon Grant said of the passing votes.
“We’ve got a big year ahead of us,” he added. “It’s a referendum year.”
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.
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.