The City of Lakeland finalized its budget for the upcoming fiscal year, referred to hereafter as “FY22” (fiscal year 2022), so let’s dive in by the numbers.
$763,380,405 — the total revenue set for FY22.
$136,473,582 — the General Fund budget set for FY22
$1.1 million is set aside for enhancements to the Lakeland Police Department, including in-car video systems, new tasers, body-worn cameras + cloud and hardware storage.
$75,000 is dedicated to expanding internship opportunities within city departments.
$275,000 has been given to Cultural Arts Funding, a 10% increase from the former budget of $250,000.
5.4323 — the millage rate adopted by city commissioners for FY22.
Got questions? We’ll do our best to answer them.
Q: What is a General Fund?
A: The General Fund is made up of primary governmental services, functions, and departments that are financially supported by tax dollars. Examples of these services include public safety, parks, administration, community development, accounting, and computer/server maintenance.
Q: What services don’t fall under the General Fund?
A: Services that aren’t supported by the General Fund are supported independently by fees and charges, such as utilities, the airport, and other privately funded entities.
Q: What is the millage rate?
A: The millage rate is the tax rate that determines local property taxes. The rate (5.4323, in our case) is applied to a property’s total taxable value and determines the amount of property taxes applied to each property (per every $1,000 of a property’s assessed value). Our millage rate decreased in a 7-0 vote on Sept. 9 from 5.4644 (est. 2019) to the current rate of 5.4323.
Do you have other questions regarding the city’s budget for fiscal year 2022? Drop us a line and we’ll do our best to find you an answer.