- November 18, 2024
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Palm Coast is largely on budget for the first quarter of its fiscal year, with revenue from increased development tracking about 25% ahead of budget.
“All of our revenues related to development are ahead significantly, and over budget to date,” Palm Coast Finance Director Christopher Quinn told the City Council at its Tuesday morning meeting. “All the impact fees, zoning fees, planning fees, building permit fees — every one of them are tracking ahead due to the actual volume of business.”
About 41% of the revenue budgeted for this year is from charges for services like stormwater fees and water use fees. The largest expenditures budgeted are for the physical environment, which accounts for 29% of the city’s budgeted expenditures, and transportation, which accounts for 22%.
City staff have had more overtime than the city budgeted for, in part because of increased development, the Starlight Tornado and vacancies, he said. But overall personnel costs remain within budget.
Palm Coast staff are now participating in the Government Finance Officers Association Budget Reviewer Program, Quinn said, and the city has added a new finance section to its website, which includes financial reports and quarterly progress reports.
