On Thursday night, Peachtree City’s $39 million budget for next year was approved and will start Oct. 1.
Additionally, the city set three millage rate hearings for Aug. 15 at 7:30 a.m., Aug. 15 at 6:30 p.m., and Aug. 22 at 9 a.m.
City Manager Jon Rorie said the city approves its budget before the county’s tax digest is complete, which might lead to a small rollback in the rate, but not a complete rollback.
“This is the best financial position we’ve been in since I’ve been city manager,” Rorie reiterated.
The city projects just over $38 million in revenue, but that could change based on the final tax digest from the county. If the projected revenues are correct, Rorie said Thursday night the city will use $490,000 in money from its reserve fund to balance the budget, Rorie projected the millage rate as 6.232, which is a reduction of .176 since bond has been paid off this year.
The budget includes a COLA adjustment for employees on Jan. 1, 2020, a $7,000 reduction to the Airport Authority, and a more than $26,000 in reduction to the Fayetteville County Development Authority. The city plans to use those funds for its own economic development efforts.