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Naples’ budget in good shape compared to other cities
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Naples is on track to end the year with a balanced budget.
Naples City Council on Monday learned that the city’s general fund is in relatively good shape, even though legislative decisions last year meant a reduction in property taxes.
Naples Finance Director Ann Marie Ricardi said Monday the city’s general fund expenditures should fall within budget this year.
“Everyone appears to be right where they should be,” she said.
The revenues, Ricardi said, are another issue — but not one that council members should lose sleep over.
Ricardi is projecting the city will lose about $300,000 in two areas — franchise fees and sales tax — this year.
City officials had expected to receive about $3.75 million in fiscal 2008 from the electric franchise fee, which the city collects from Florida Power & Light Co. customers.
The city has brought in about 40 percent, or about $1.48 million, in revenue from the fee. Ricardi said she expects to be down about $200,000 from her original franchise fee estimate.
Ricardi said Monday she was unsure whether the franchise fee loss was because residents were using less electricity.
The city had projected it would receive about $2.49 million in general-use sales taxes this year. To date, it has brought in about 38 percent, or about $956,264, in revenue.
Ricardi said she expects the revenue from this tax to be down about $100,000, but reassured council members that they weren’t alone in their losses.
“A lot of cities are suffering greater than I am,” Ricardi said. “We are definitely getting sales tax revenue at a lesser (rate) than budgeted (but) it’s way better than what a lot of cities are saying.”
Ricardi said the budget eventually will level out as the year goes on, since not all of the departments will use all of the money they were budgeted.
The city will begin budgeting for the upcoming fiscal year this summer.
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Ricardi for president. Unless she wears pantsuits.
#1 Posted by Paradise on May 5, 2008 at 6:50 p.m. (Suggest removal)
It should be obvious that the city of Naples is fiscally sound. Any municipality than can lease a $168 million property for $1/year for 100 years has to be doing well. I just called the city yesterday and asked if they would forgive my $248 water bill, no problem they said.
#2 Posted by yregrus on May 5, 2008 at 9:55 p.m. (Suggest removal)
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