Town of Palm Beach News

Expected $4,000,000 Budget Increase for the Town of Palm Beach

Last week the Town Council exasperated discussions on the upcoming budget for the 2015-2016 Fiscal year. Many projects have already begun preliminary plans for the items enlisted in the upcoming budget, but there is still much debate to be held.The Operating Budget for the Town is likely to exceed the $4 million increase from last year’s jump. Several positions have been added to a few departments across the Town of Palm Beach staff. The Town will have 365 employees on their payroll.The additional human resources analyst, engineering specialist, and zoning technician are a few of the new positions set to be hired for the upcoming year. Each will assist a specific need to their various departments.A large portion of the budget will be designated for the continuation of the sand nourishment along the Island, around seven million is anticipated to be sent to the Coastal Management Fund. It is more than initially planned for in the long-term plans.

An unplanned cost is needed to cover the lack of funds coming from Palm Beach County that was initially promised at the start of the Coastal Management Planning. This budgetary shortcoming was voted upon to come from the Property Tax portion of the Town’s income. This will secure against any other shortcomings when it comes to additional hiccups.

Many hope that this cautionary measure will rescue the Town of Palm Beach from dipping into their reserve fund. The reserve is set aside for dire emergencies that could occur to the Town. The mandated $16 million dollar minimum in the account will continue to be maintained, but additional funds will be funneled into the reserve to safeguard against any future emergencies.

The final vote on the budget increase for the Town of Palm Beach and property tax rates will not be held until September, but the debates will continue over the new few weeks at Town of Palm Beach Town Council Meetings. Fiscal responsibility is vital in procuring the best future for the Town of Palm Beach.

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Carter

Carter

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2 Comments

  1. October 14, 2017 at 2:19 pm — Reply

    […] Related>>>Expected 4,000,000 Budget Increase For The Town Of Palm Beach […]

  2. […] Related>>>Expected $4,000,000 Budget Increase for the Town of Palm Beach […]

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