What is a fiscal year?

A fiscal year, abbreviated as “FY”, is the annual period applicable to the annual operating budget. Different governmental levels, i.e. federal, state, county and municipal, may have a different beginning date and ending date for their respective fiscal year. The City of Hollywood’s fiscal year runs from October 1 through September 30.

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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?