Despite Revenue Shortfall, City Optimistic About 2021 Budget
Commissioner Questions Expenditures of City Funds by Outside Groups
Last updated 8/19/2020 at 1:51pm
Lake Wales City Commissioners got good news at their second budget workshop Aug. 12. Despite the COVID-19 pandemic's negative impact on the economy, projected state revenue is about $100,000 higher than originally expected.
Budget Director Dorothy Abbott said she is confident that the City can adopt a balanced budget at a slightly lower "rollback" millage, the rate that is expected to generate the same amount of property taxes as this year. The current rate of 6.9339 may be reduced to 6.7974, or slightly less than $6.80 per $1,000 of taxable property value. Abbott said the city also will b...