Wellington Presents Preliminary 2023 Annual Budget

The Village of Wellington is preparing the Fiscal Year 2022/2023 Budget process based on the development, implementation and evaluation of plans for the provision of services and capital assets.  The first phase of the budget process is presenting the overall Village budget. The second phase, departmental budgets, will follow in a few weeks.

Highlights

·         The total preliminary FY 2023 budget is $128.5 million as compared to the FY 2022 budget of $134 million, including inter-fund transfers.  The $5.5 million decrease is primarily due to capital improvement projects.

·         The Fiscal Year 2023 proposed budget continues Wellington’s standard of providing high service levels and maintaining infrastructure.  The proposed budget addresses capital projects while maintaining the same millage and ACME assessment rates. 

·         The preliminary rates compared to FY 2022 are listed below:

• With an estimated 12.7% increase in the 2022 Taxable Value to $10.4 billion, the strength of Wellington’s residential market provides ad valorem tax revenues of $2.6 million more than last year at the preliminary 2.47 millage rate.  The revenue value of each .1 mill is $989,000 in FY 2022 compared to $883,000 in FY 2022. 
• The ad valorem impact for a homesteaded property valued at $400,000 is an increase of about $33 with a 3% assessed value increase.  The increase is $111 for a non-homesteaded property with a 10% assessed value increase.
• Besides increased ad valorem revenues, revenue increases are included in permits/fees which is driven by activity in the Building Department.  The Village is including the addition of the SHIP program and there are increased revenues in charges for services driven by strong parks & recreation programs.
• The preliminary FY 2023 budget funds 244 full-time governmental positions, 90,669 part-time hours, 4 supplemental positions, and 2 interns. In the enterprise funds, the budget funds 66 full-time positions, 9 supplemental positions. and 1 intern.

• Capital and Major Maintenance Projects included in the preliminary 2023 Budget include:

One-Time Projects:

Public Safety Annex                           $3,000,000

WCC Improvements                           $   100,000

GVS Bike Lanes (Grant Match)         $   250,000

Section 24 Preserve (Grant Match)    $   500,000

Olympia Park Courts (1 of 2 yrs)       $   600,000

Community Park Renovations            $1,500,000

Aquatics Complex Replacement        $3,415,024

Ongoing Programs:

Acme R & R                                       $   795,000

Neighborhood Parks                           $   320,000

Neighborhood Pipe Lining                 $   510,000

Park Improvements                             $   325,000

Tech. Investment                                $   300,000

Multiuse Pathways                             $   380,000

Traffic Engineering                             $     75,000

Athletic Fields                                    $1,200,000

Streetscape                                          $   510,000

Turn Lanes                                          $   120,000

Utilities:

Communications & Tech Investment $     60,000

Water Supply Improvements              $   500,000

Water Treatment System                    $4 000,000

Water Repump and Storage                $   200,000

Force Main Wastewater System         $1,000,000

• The budget process will continue with the distribution of capital project and departmental budget information.  Public outreach to gain input from residents and stakeholders continues with the Budget Challenge online survey, social media, the upcoming Facebook Virtual Town Hall, and Wellington’s website, www.wellingtonfl.gov/survey.