The City of Dade City approved a budget of nearly $41 million for the 2022-2023 fiscal year.
The new spending plan represents a 64% increase over last year’s budget, which approached $25 million, and was adopted unanimously during an Oct. 4 meeting.
This is a significantly large increase from the previous budget, accounting for 64% higher than the $24,961,790 budget for last fiscal year.
The new budget is $40,994,350.
The substantial percentage of the increase comes from capital projects, while other costs are the addition of personnel and inflationary impacts.
Personnel costs are expected to be slightly more than $7.7 million, representing about 19% of the budget. That’s an increase of more than $1.3 million over last year.
The increase is due to new positions, increased health care premiums, salary increases and associated retirement costs.
Inflation also had a significant impact on the budget.
The city’s millage rate of 7.14 remained unchanged. The city’s property values came in at $403,362,761. That’s more than $63 million higher than the value in 2021, which was $339,633,298.
The general fund budget is expected to increase by almost $5.2 million.
Operating costs have increased by nearly $360,000.
Overall, departments continue to look for ways to improve operating efficiencies in the face of rising costs. Inflation and supply chain delays continue to impact operating costs.
Major projects include construction of the Dade Oaks retention pond, Morningside Drive Extension, design of the wastewater treatment plant, wastewater force main and lift station projects, utility relocation projects, splash pad, Irvin Center, playground equipment and sidewalk/road improvements. This amount includes $1.75 million collected from impact fees and system development charges that will be held in reserve for future capital projects, and $430,500 that will be deposited into the renewal and replacement fund for public utilities.
Capital expenditures increased by nearly $3.9 million, primarily due to the Morningside Drive Extension, splash pad, Irvin Center, road improvements and the purchase of police vehicles.
The Dade City Commission consists of Mayor James Shive, Mayor Pro Tem Knute Nathe, and Commissioners Scott Black, Ann Cosentino and Normita Woodard.
Published October 19, 2022
