Title:
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Approve and authorize advance quarterly payments for the Property Appraiser and Clerk of the Circuit Court and Comptroller for the FY25 Budget (Lorie Bailey Brown, CFO, Resource Management Director)
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Division:
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Resource Management - Business Office
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Authorized By:
Lorie Bailey Brown, CFO, Resource Management Director
Contact/Phone Number:
Lorie Bailey Brown/407-665-7172
Background:
Florida Statute 192.091(b) states that for Property Appraiser, payments shall be made quarterly. In FY24, the Board authorized advanced payment of the second quarterly payment at the beginning of the fiscal year and advance of the third and fourth quarterly payments to the second and third quarter of the fiscal year, near January 1 and April 1, respectively.
Advancing the quarterly payment schedule allows the Constitutional Officers to obtain lower banking fees due to higher cash balances and offers the ability to pay contracts that are due at the beginning of the fiscal year, such as insurance.
Requested Action:
Staff requests the Board approve and authorize Resource Management to advance the quarterly payments to the Property Appraiser and Clerk for the FY25 Budget.