Lakewood Ranch Herald

Public hearing scheduled July 16 to formally adopt Lakewood Ranch Inter-District Authority budget

LAKEWOOD RANCH -- Following three months of budget workshops, the Lakewood Ranch Inter-District Authority approved an operating budget for fiscal year 2016 during the monthly board meeting Thursday.

The IDA also set a public hearing to adopt the fiscal 2016 budget at 10 a.m. Thursday, July 16, at Lakewood Ranch Town Hall, 8175 Lakewood Ranch Blvd.

Appropriation increases for the district, which comprises five community development districts, amount to 9.7 percent, according to Steven Zielinski, IDA chief operating officer.

Anticipated revenue increases by department include:

Two additional position requests with related salary and wage adjustments of 4.8 percent;

A 1 percent increase for communitywide operations and other expenses;

An interlocal gatehouse cost-sharing agreement among CDD2, CDD5, and CDD6, which is a 0.6 percent increase, and;

A 4.2 percent increase for Town Hall administrative expenses, including IT system conversion and improvements.

There is a 0.8 percent reduction in Town Hall operations expenditures, along with a 0.1 percent decrease for communitywide administration.

The annual IDA and CDD budgets determine the quality and quantity of governmental services. In addition to being a financial plan, the budgets also establish a level of accountability, control and use of public resources.

Each Lakewood Ranch community development district assesses homeowners for operation and maintenance expenses, which includes common area landscaping and irrigation, residential irrigation water, parks, neighborhood entry monuments, signs and general infrastructure upkeep. For Districts 2, 5 and 6, maintenance assessments also include gatehouse operations, roadway paving and rehabilitation and sidewalk upkeep.

CDD budgets will be adopted in August.

Kathryn Moschella, Lakewood Ranch reporter can be reached at 941-745-7010. Follow her on Twitter@MoschellaHerald.