VILLAGE CONNECTION- Village Adopts Budget For Upcoming Year

The Village of Estero adopted its budget for fiscal year 2024-25, which runs from Oct. 1, 2024 through Sept. 30, 2025, following two public hearings in September. Each year, the Village undertakes a thorough review of community needs and includes these projects within the Village’s budget. The annual process can be summarized as follows:

1. Planning and studying

2. Capital Improvement Plan adoption

3. Performance data reviewed

4. Public hearings and budget adoption

The majority of the Village’s budget (87%) appropriates funding for capital improvements. The Fiscal Year 2024-2025 Plan focuses on quality of life, beautification, bicycle/pedestrian safety, traffic improvements, park improvements, utility improvements, and information technology improvements. Projects within the plan are adopted as part of the budget approval process. Public input is encouraged!

 

TAXES TO REMAIN LOW

State Shared Revenue projections are stable and increasing slightly, according to the Florida Department of Revenue. The Village lowered its millage rate to 0.73 mills, one cent lower compared to Fiscal Year 2023-24. The Village maintains the lowest tax rate in the Southwest Florida region.

 

RESPONSIBLE GOVERNMENT

In March 2024, the Village amended its Reserves Policy to retain 50% of general fund budgeted expenditures for an emergency reserve, 20% of general fund budgeted expenditures for an operating reserve, a $750,000 litigation reserve, and $300,000 major road maintenance reserve subject to 3% annual increases. Additionally, the Village paid off its remaining debt seven years early, saving over $4 million in interest. The Village maintains its “government lite” approach and has the leanest staff in Southwest Florida.

 

BUDGET AWARD

The Village was awarded the Government Finance Officers Association Distinguished Budget Presentation Award for its fiscal year 2023-24 budget. The award represents a significant achievement. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. In order to receive the award,

the municipality had to satisfy nationally recognized guidelines for effective budget presentation. The Village will submit its 2024-25 budget for consideration as well.

A copy of the fiscal year 2024-25 budget is available virtually at the Village’s website www.estero-fl.gov and at Village Hall: 9401 Corkscrew Palms Circle, Estero, FL 33928.