Overall budget reduction of $4.93m
Florida Citrus Commission approves $17.5m budget
The Department’s total preliminary budget is $17.5 million with an overall budget reduction of $4.93 million, or 22 percent, over the previous year.
The preliminary budget includes an accelerated spend down of excess fund balance over three years, an international funding split of 30 percent orange juice and 70 percent grapefruit and $4.65 million general revenue funding from the State of Florida.
The budget is based on a tax assessment rate projection of no more than $.07 per box of processed oranges and under $.07 for all other varieties. The projected use of fund balance to support this budget is $3.2 million.
The budget also includes $3.9 million in Foreign Agricultural Service Market Access Program funds from the United States Department of Agriculture to be used on international programs. Budget reductions reflect decreases in scientific research, economic and market research as well as global marketing programs.
Commissioners will set tax rates in October, after the initial USDA citrus crop forecast. Several factors will be used to determine the appropriate final tax rate for the season, including crop size, import projections, carryover and fund balance.
By approving a preliminary budget, Commissioners authorize Department staff to begin work immediately on programs for the 2017-18 fiscal year, which begins on July 1. Grower assessments will not be collected until after the rate is set in October.
source: floridatrend.com
