Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 28
Introduction → TransmiTTal leTTer
b) Over a span of three years, the City will receive a financial allocation of $450,000 from
Lake County to facilitate these initiatives. This grant from Lake County will contribute to the
successful execution of the program. The operation of the incubator will be facilitated with
the involvement of the University of Central Florida Research Foundation (UCFRF), which
will play a role in its administration.
2. The Greenwood Cemetery:
a) Annual revenues are $17,200 (Greenwood Cemetery, page 355).
b) The current required reserve balance is $274,035.
c) The General Fund’s annual operating expenditure for the cemetery is $43,000.
d) In FY 2023, the City Commission modified the fee structure.
3. Community Events:
a) The budget includes $921,922 (CM Events & Tourism Expenditures, page 173) in expenditures for a wide array of City events, festivals, activities, and celebrations, which will attract
visitors and investment to the City. The City funds almost 100% of all events, and the rest is
raised by sponsors.
b) Several City departments, including Fire, Police, Parks and Recreation, and Public Works
incur the time and overtime costs for these events which are absorbed into the department
budgets.
4. Parks & Recreation:
a) The annual operating budget for the department is $1,414,006 (Parks & Recreation
Expenditures, page 245), and $112,500 is allocated to capital outlay in the General Fund
and $226,000 in the Capital Projects budget with the Sales Tax Capital Projects fund (Capital
Projects Parks & Recreation, page 260).
5. Grants: The budget includes $30,000 in support grants to various community organizations for
events and services.
6. Additional information can be found on the City of Eustis website: https://www.eustis.org and
City’s Facebook page: https://www.facebook.com/CityofEustis.
The Fiscal Year 2022-23 Significant Events and Accomplishments
It is anticipated that staff will reduce anticipated General Fund expenditures in FY 2022-23 as
compared to budget. Much of the anticipated savings can be attributed to position vacancies, but
each department also limited expenditures as much as possible. Other major accomplishments
include the following:
1.
The City Commission formally re-elected Commissioner Michael Holland to serve as Mayor and
re-elected Commissioner Emily Lee to serve as Vice Mayor for the City of Eustis. Holland and
Lee will serve in their respective roles through December 2026.
2. Achieved the prestigious Distinguished Budget Award from the Government Finance Officers
Association for the FY 2021-22 Budget, maintaining this recognition for eight consecutive years.
3. Successfully passed the annual audit conducted by Purvis Gray audit company. Earned the
Certificate of Achievement for Excellence in Financial Reporting from the Government Finance
Officers Association for the 34rd consecutive year, based on the audit ending 9-30-2022.
4. Implemented digital books for Budget and Annual Comprehensive Financial Reports (ACFR) for
enhanced accessibility, accuracy, and advanced information presentation.
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City of Eustis, Florida
Adopted Budget
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