Financials & Annual Reports

The Town operates on a fiscal year beginning October 1 and ending September 30.

The Final Budget for FY18-19 is posted here.

 

Audited Financial Statements

Budgets

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FY Ended September 30, 2018

Prior audited financial statements

The Council is required to set a tentative millage rate each year to submit to the Tax Collector, which results in the TRIM (TRuth In Millage) statement that property owners receive each August. As the final millage rate may be set at a lower level but never higher, the TRIM notice may contain a higher than adopted rate.

This chart shows the proposed versus adopted millage rates since 2002.

The public is invited to participate in the budget process, which begins with a workshop to discuss tentative general fund budgets, usually in July. The Finance Committee is involved in an advisory capacity to the Council, and meets prior to that workshop. Once a tentative budget is set with the maximum millage rate for property tax, the TRIM notices are distributed. The Town is required by the State to hold two public hearings in September before the final budget is adopted each year.

Indian River County publishes a typical annual tax bill in their comprehensive budget each year. This gives you an idea of the rate in the Town of Indian River Shores compared to the rest of the County, which includes the cost for an Emergency District (Fire and EMS) at 2.3010 mils that the Town residents have included within their ad valorem tax of 1.3774 mils. This is because of our unique triple-certified Public Safety Department, which serves the Town's residents' needs for police, fire and EMS. Even though the residents of the Town are obligated to pay County taxes of 3.3602 mils and for the Land Acquisition Bonds of 2004 of 0.3143 mils, they still receive the lowest possible tax rate in the County, followed by all other incorporated areas, with the highest being the unincorporated areas.

Pension Reports

Florida Statute 112.664 requires information for defined benefit pension plans to be publicly posted on municipal websites.

Annual Reports

With the inception of the comprehensive News Alerts in 2013 being emailed to many residents and posted on the Town's bulletin board for those who do not use computer access to the website or receive email, this report's format has been changed to a one-page management summary providing bulleted summary highlights of activities over the previous year.

For financial data, historical facts, photos and answers to common questions, we believe the website has ample information.

Annual Recap Report Oct 2014-Nov 2015 (one-page format)

State Assistance

The State of Florida's Chief Financial Officer has provided several resources on their website about home and health insurance, retirement planning, budgeting and many other topics. Your Money Matters is a good place to look for information.

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