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The Village of Pinecrest continues to sail along in a
sea of green ink, registering a healthy 58 percent increase in its
general fund balance in the last fiscal year.
Village Manager Peter Lombardi, in his comprehensive
annual report, revealed that the general fund balance soared from $5.6
million in fiscal 1998 to $8.8 million in the year ended September 30,
1999.
"The Village of Pinecrest currently enjoys a
favorable economic environment," Lombardi wrote. "Continued
economic stability is expected."
At the same time, Lombardi pointed out that the
Village has a long-term debt obligation of $8.1 million to pay for the
acquisition and development of the new Pinecrest Park, and for the
purchase of the land and development of a new municipal center.
Lombardi's report also revealed that revenues were up
slightly last year, while expenditures soared.
The Village Manager's report indicated that revenues
for fiscal 1999 totaled $10.7 million, as opposed to slightly more
than $10 million a year earlier, while expenditures amounted to $7.5
million for the year just ended and $5.5 million in fiscal 1998, a
rise of 36.7 percent.
Lombardi pointed out that the main reason for the
increase in expenditures was due to the start-up of the Village Parks
and Recreation Department -- a $254,079 item -- and "capital
outlay expenditures."
Specifically, the General Government expenditure rose
45.2 percent from $645,000 in fiscal 1998 to $935,000 in fiscal 1999,
a $291,000 increase. Expenditures for Public Safety were down 7.3
percent, from $3.4 million a year ago to $3.1 million for the year
just ended. Public Works expenditures were down 27 percent, from
$323,906 to $236,560 and there was a $695,314 outlay for Building and
Planning in fiscal 1999, which was a part of General Government
accounting in the previous year.
Lombardi noted that the increase in revenues stemmed
from new sources, which included franchise fees for electric,
telecommunication and gas; occupational license fees, stormwater
utility fees, grants, court fines and impact fees. The electric
franchise fees, he said, were the largest revenue producers and rose
from $568,456 to more than $1.1 million.
Lombardi listed several long-term goals for the
Village, spread over the next three years. Among them:
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Acquisition of a municipal center for a village
hall and police station
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Landscaping the median and beautification of four
miles of Pinecrest Parkway (South Dixie Highway)
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Implementation of a new street identification
program
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Continuation of the street tree-planting program
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Development of a stormwater master plan to address
any flooding problems
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Begin development of the sidewalk-bikeway master
plan
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A brick-naming program to raise money for
Pinecrest Park
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