Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 12
Introduction → TransmiTTal leTTer
September 21, 2023
Honorable Mayor and City Commissioners:
I am delighted to introduce the Adopted Annual Budget for the fiscal year commencing on October
1, 2023, and ending September 30, 2024. This budget is grounded in my comprehension of the
Commission’s top priorities and the level of service necessary to fulfill the community’s needs.
This document represents the culmination of the annual budget process, commencing in March
and ending with the final adoption on September 21, 2023. The budget is fully compliant with the
mandates of the City Charter, relevant Florida statutes, the City’s Financial Policies, and is aligned
with the goals and objectives outlined in the City’s Strategic Plan.
Eustis remains a vibrant and thriving community that residents and businesses take pride in. The
City’s fiscal health continues to exhibit strength and stability. The Commission has exercised fiscal
restraint and implemented expenditure plans that are within the City’s available revenue stream.
Over the past several years, Eustis has consistently adopted balanced budgets, adhering to the
City’s definition of a balanced budget, wherein total recurring revenues meet or exceed total recurring expenditures, showcasing responsible financial practices.
The expenditure budget of $71,902,229 (Proposed Budget Summary, page 90) includes the acquisition of public safety vehicles, water and sewer projects, street resurfacing projects as well
as funding for the police and fire pensions. There are several major projects slated for Fiscal Year
2023-24, including citywide street resurfacing and sidewalk maintenance, within the community
redevelopment area, and improvements/engineering for the expansion of the main wastewater
plant.
The City continues to experience steady growth, with an increase in population from 19,432 in 2015
to an estimated 24,317 (City Population, page 10) in projected FY 2024, with a current 1.67% growth
rate. (U.S. Census Bureau data).
Figure 1:
City of Eustis, FL Population
10
21,083
22,368
23,189
23,543
23,600
23,918
19,432
20,880
24,317
20,127
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
City of Eustis, Florida
Adopted Budget
Population
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