By James Coulter
As the City of Lake Wales has collected more impact fees than previously expected, the city budget for the next fiscal year is expected to be amended.
At their workshop on Wed. Oct. 30, Lake Wales City commissioners reviewed an item from the consent agenda for their next regular meeting. The item pertains to an amendment to the city budget for fiscal year 2024-2025.
The amendment is a housekeeping measure, as state stature recommends that any amendments to city budgets be completed by the end of November.
This amendment would “modify the estimates of revenues and appropriations budgeted in various funds” in the next fiscal year’s budget.
Finance Director Dorothy Abbott explained that the amendment was proposed due to more impact fees having been collected this year than previously reported.
“You look back in financials and see if anything needs to be adjusted to what actually happens,” she explained. “You have a road map. You go on a trip. And now we tell you what really happened beyond our expectations.”
Of the additional impact fees recently reviewed, $731,000 were from building permits and $1.2 million was from site development.
“I had never seen a year where I had $14 million worth of changes in revenue,” she said. “That was a good year.”
Commissioners Keith Thompson and Robin Gibson both expressed pleasant surprise at the additional impact fees.
“So, we collected more impact fees than we expected?” Thompson asked. “Wow! Did I hear that right?”
“I would prefer to hear instead of us doing our best to allocate the American Rescue Funds, we will allocate the rescue funds,” Gibson said. “I think we will.”
This agenda item will be considered along with the rest of the consent agenda at the city commission’s next regular meeting, scheduled for Tues. Nov. 5 at 6 PM at Lake Wales City Hall, located at 201 W. Central Ave., Lake Wales, FL 33853.
