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  • Proposed Apopka budget $121 million; no change in tax rate

    first_imgShare on Facebook Tweet on Twitter Workshop meetings underway with bare bones approach being implementedThe Apopka City Council held the first of six budget meetings yesterday and began the process of crafting a proposal into a financial plan for the City of Apopka. The Council learned that the fiscal 2018 budget has increased 16%, but the proposed millage rate will remain the same as 2017. Apopka Finance Director Pam Barclay, City Administrator Glenn Irby and Mayor Joe Kilsheimer all described it as an austere, bare-bones, no-frills, budget.“What was proposed in the General Fund was $60-million, and we trimmed that down (to approximately $44.5 million), Barclay said. “We presented a balanced budget meaning the revenues match the expenditures.”Kilsheimer described it as the best that could be done without increasing revenues or utilizing the general funds.“Everything that is being requested by department heads is needed,” he said. “However, if we are not going to raise taxes, and we’re not going into reserves, there’s just no money for some of the things our department heads have asked for. This is an austere budget.”Irby found the process in many ways unprecedented and warned that budget cuts could not continue forever.“I’ve been putting budgets together like this for over 20 years, and usually there is fat… and you learn over the years where departments tend to store it and you go and extract it,” he said. “We found that this year. It’s no different. But what I noticed this year that I’ve never seen before is these budgets weren’t really extravagant. We have things that are wearing out. We have police cars with over 100,000 miles on them. Pursuit vehicles of that type are dangerous. They need to be retired. This is the first time in my career that I had to face the directors and tell them ‘I can’t give you any of this’. And I do understand why and that’s what I told them. We have marching orders from last year. And just to get a half-mil rate increase was difficult. So what you have is a no-frills, bare bones budget. There is no padding – none. And I’ve said this to Council before – this is not sustainable. Something has to give. And what that is I don’t know.”The proposed FY 2018 budget is $121,050,345 for all funds, which is an increase of $16,966,829 or 16% over the 2017 budget. However, the proposed General Fund Budget would decrease approximately $4.7 million ($44,506,298) or 9.7% compared to last year’s budget. No reserves and no additional bank notes were used to balance this year’s General Fund budget. In order to do so, all requests for capital expenditures, with the exception of costs to complete Fire Station No. 5, and all requests for additional employees were eliminated.Budget Highlights  “Last year we discussed the need to remain focused in order to achieve future success. We focused on what we could afford to do to maintain our quality of life during the most troubling economic situation in decades. During the year we invested time and resources into expanding our economic development efforts, planning for the future and keeping our community safe. Although economic indicators continue to point toward recovery, history shows it could be a slow recovery. This year we should continue to focus on economic development, sustainability and keeping our community safe as these proactive measures will position us to recover faster and ensure our future success.We believe this budget is a prudent and responsible financial plan that funds the top priorities of the City Council and provides funding to maintain our services and infrastructure. We hope you find this information useful in developing an understanding of the financial plan of the City of Apopka. As we strive to better serve our residents, we look forward to working with the City Council and the public to continue to build a strong financial base and to continue to make Apopka one of the finest communities in which to live, work and play.”The City Council meets again tomorrow from 3-6 PM in its second workshop at Apopka City Hall.Note – This is the first in a series of articles outlining the budget process, which includes five more workshops and City Council discussions and votes.  Reply Mama Mia 4 COMMENTS Please enter your name here I think the mayor ought to allow the public to speak at the budget workshops like he used to, when they discussed the budget. I bragged about the mayor then and told him that I appreciated his allowing the public to speak and be a part of the discussions about the budget and items to be purchased, and that he was doing a good job. The mayor needs to allow the public to speak again at the workshops. Why not? When it comes to the city council meetings, it seems the budget is cast in stone, and whatever the public says isn’t considered and just a formality before their votes. July 12, 2017 at 8:43 am TAGS2018 Fiscal BudgetApopka City CouncilCity of Apopka Previous articleUpdating traffic news: Apopka man killed in I-4 crashNext articleThe Orange County Clerk of Courts may have money for you Denise Connell RELATED ARTICLESMORE FROM AUTHOR Mama Mia Reply July 12, 2017 at 8:19 am July 12, 2017 at 8:36 am Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 LEAVE A REPLY Cancel reply I hope the tax base millage rate stays the same as reported in the Apopka Chief. The taxes will go up anyway. I think they will probably stay the same as it is election time…..LOL……I see the wrecking ball has been brought in, as I predicted, before the last city elections, only thing is that Miley wasn’t there riding the wrecking ball…..LOL…..that wrecking ball sure had to wham the side of that concrete stands mighty hard to bust it up (Edwards Field). Too bad things aren’t built to last now days like that was. I had lots of great memories there from going to the fireworks shows of the past and the ball games and that was my resting place to stop and go to the top part as I walked up town daily…….oh well. Maybe they will display some of the concrete chunks in a memorial on the front lawn of city hall…..yeah, that will do it, and then the city hall entire front lawn will look like a junkyard with the other bent metal memorial……beauty is in the eye of the beholders and in the hearts of our memories. Seriously, there needs to be more historical preservation of our Apopka history in this town. Please enter your comment! The Anatomy of Fear Significant factors included in the proposed budget include: L bell Reply Reply I hope someone with the City of Apopka sees this….someone has vandalized the J. Barnes Field sign on the western part of Grossenbacher St. and Wells in front of the baseball fields. I don’t know if the city handles that or the school people, but if the mayor sees this post maybe he will contact Christine Moore about it if the school handles that instead of the city. Someone sprayed red paint across the face of the sign, and it looks like to me, “Abortion is Murder”……doesn’t speak well of our city or school to people coming to the games…….. Support conservation and fish with NEW Florida specialty license plate July 23, 2017 at 3:49 pm You Know Mr. Trump not going to let no one speak   Prior Year’s Millage rate of $3.7876 per $1,000 of assessed value; no change from the previous year.  Tax base increased by $295+ million, which provided an additional $1,061,939 in ad valorem tax revenue.  No reserves were used to balance the General Fund budget.  No bank notes were used to balance the General Fund budget.  No Capital costs were included in the General Fund budget, with the exception of the final cost of construction of the new Fire Station #5 ($742,830) (almost $14 million was requested).  No additional employees were included in the General Fund Budget (51 positions were requested).  Additional Division (Utility Plant Maintenance) was created in the Public Utility Enterprise Fund.  20 new positions added to the Water and Wastewater Utility Fund workforce.  Health Insurance Costs increased 3.0%.  Property and Casualty insurance increased 5%.Barclay and Irby ended their signed letter to the City Council (within the 763-page budget proposal document) with this conclusion: Mama Mia Save my name, email, and website in this browser for the next time I comment. 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  • Ginnie Mae Enhances MBS Data Disclosure

    first_imgSubscribe in Daily Dose, Featured, News Previous: Regions With the Most Overleveraged Mortgagers Next: Increasing Numbers of Homeowners Leave Large Coastal Metros Demand Propels Home Prices Upward 2 days ago March 24, 2021 894 Views Ginnie Mae Enhances MBS Data Disclosure Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Ginnie Mae, the principal financing arm for government mortgage loans, today announced that it is implementing a new Environmental, Social, and Governance (ESG) stratification record in the Single-Family Supplemental File that is part of Ginnie Mae’s Disclosure Data Download page.According to a Ginnie Mae press release, the objective is to give Ginnie Mae mortgage-backed securities investors information that supports their sustainable investing decisions and solutions. Department of Housing and Urban Development (HUD) representative Douglas Robinson writes that the objective is to give Ginnie Mae mortgage-backed securities investors information that supports their sustainable investing decisions and solutions.The ESG record will provide pool-level aggregate information about the extent of loans and unpaid principal balance (UPB) dollars that are in low- and moderate-income areas, Robinson reports.The Low- and Moderate-income areas used in formulating this new disclosure record are defined by the Department of Housing and Urban Development (HUD). As a part of the HUD Community Development Block Grant Program, HUD delineates geographic areas that are designated as Low- and Moderate-income areas. The new disclosure aggregates to the pool level the Number of Loans, % of Loans, UPB Dollars, % UPB Dollars across low- and moderate-income areas applicable to the pool.Any reader with questions pertaining to this recent announcement should send an email to [email protected] Those inquiries will be addressed within 2 business days.Ginnie Mae in 2013 began releasing monthly loan-level data for existing, active single-family mortgage-backed securities (MBS).”The release of loan-level data for existing single-family MBS is an important step toward improving our transparency,” Ginnie Mae President Ted Tozer said at the time. “Enhancing MBS disclosures assists Ginnie Mae in attracting global capital by meeting the needs of investors more effectively and enabling them to make better-informed investment decisions.The company has since been continuing to enhance its MBS data disclosure system. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2021-03-24 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Home / Daily Dose / Ginnie Mae Enhances MBS Data Disclosure Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more