The Finance Department is responsible for the preparation of the City's annual budget. The budget process starts in February and ends in September, with the budget being effective October 1 of each year.
The budget process involves the following steps:
- February - Preparation of budget worksheets for annual operating budget and Capital Improvement Plan (CIP); initial budget meeting and training session.
- March - Preparation of CIP and operating budget requests by the departments; review of the requests on a item-by-item in depth basis by the Finance Department.
- April - Finance Department review leads to questions to be answered by departments, concluding with a one-on-one budget review meeting with Finance and each department.
- May - The City Manager meets with each department to review their budget requests.
- June - The Finance Department and City Manager present an overview of the budget to the City Commission and a proposed budget document is compiled.
- July - The City Commission reviews the proposed budget and meets with department heads and the budget team to offer comments, ask questions and make changes (if necessary); the City Commission then sets a tentative tax rate for the next budget year.
- August - Truth in Millage (TRIM) notices are mailed to all residents of the City, which lists the taxes a resident would pay if all taxing authorities [see below] adopt their proposed tax rates.
- September - The City Commission holds two public hearings on the budget and sets the final millage rate to be effective October 1st.
There are four taxing authorities to which Sanford citizens pay property taxes. These are:
- City of Sanford
- Seminole County
- Seminole County Schools
- St. Johns River Water Management District
On average (including the average homestead exemption rate), 32% of property taxes paid by a Sanford citizen are to the City of Sanford, the remaining 68% are paid to the other taxing authorities listed above. To learn more about the rate of taxes for the other authorities, visit the Seminole County Tax Collectors page of rates.
Electronically Available Budget Documents
The Finance Department has several years of budgets available electronically on the website. Click on the links to the left under the "Finance" and then under "Budget Information" to download electronic budget documents.