Community Development District 6 supervisors on Friday approved a proposed $3.4 million budget for 2018-19.
The budget is 8 percent higher than this year’s budget to the tune of $259,165.
The increase is mostly attributed to a rise in CDD 6’s contribution to the Project Wide Advisory Committee.
The good news for CDD 6 residents is that maintenance assessment rates will remain the same. Money from working capital will make up the difference.
One CDD 6 supervisor offered a word of caution.
“We are taking money out of our savings. Our income is being exceeded by our expenditures,” said CDD 6 Supervisor Peter Moeller.
His fellow supervisors pushed back against that notion.
CDD 6 Chairman Sally Moss said it was similar to tapping into a savings account as needed.
“We have a very healthy reserve,” she added.
CDD 6 has $7 million in general reserves, $720,000 in villa road funds and $1.5 million in working capital.
“You are in excellent shape,” said Budget Director Barbara Kays.
Final approval of the budget is set for 9:30 a.m. Sept. 7 at the District Office at Lake Sumter Landing.
