Fort Lauderdale City Budgets –

     We Provide….You Decide !


     
The following graph shows the Citys’ “All Funds” Budgets from 1998/99 through 2007/2008.

     
               
                                                 


     The Citys’ budget must always be balanced. Whatever they take in, they must either spend or save in a rainy day fund.

     Starting in 2003, revenues skyrocketed mostly due to the increased value of real estate in the City. The charges for services (water, garbage etc.) also escalated during those years.

     The tax rate has always stayed nearly the same, about $5 dollars for every $1000 of your property’s value, but as your home and the commercial properties increased in value, the tax bills took off with them ! 

     As the City took in more and more money, they found ways to spend it. The biggest increases were for salaries, fringe benefits, and pensions, which went up 24 % – from 24 million to 30 million – in one year. 

     Another big expense was for equipment (trucks, machines, upgrading water plants and the like). One year saw an astonishing 76% increase in equipment purchases. 

     Also, insurance costs rose 11% in one year and overtime expenses rose 12% in one year.

      But this year will be different!
With property values plumetting, and the State Legislature cutting, city governments will feel the pain. The days of Gravy Train budgets are over, at least for now.

     



                                       

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