What is the City’s Adopted Budget?

The Adopted Budget is a financial document designed to provide residents, business community members and other stakeholders of the resources used to maintain and enhance current service levels in the City of Hollywood. The budget must be balanced, meaning that planned expenditures must equal anticipated revenues, and is annually adopted and approved by the City Commission resulting in the Adopted Budget.

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1. What is the City’s Adopted Budget?
2. By what date does the City’s Budget need to be adopted?
3. How much is the FY 2020 Adopted Budget?
4. What is a fiscal year?
5. What is a mill?
6. What is the City’s current property tax rate?
7. What is the difference between property taxes and ad valorem taxes?
8. For purposes of the City’s budget, what does debt mean?
9. What does debt service mean?
10. What is a Fund?
11. What is the City’s General Fund?
12. What is an Enterprise Fund?
13. What is the purpose of a Central Services Fund?
14. What is the purpose of the City’s Self Insurance Fund?
15. What is the Capital Improvement Plan (CIP)?
16. What is a capital project?
17. How many full-time employees work for the City?