Budget Calendar
Please see the Budget Calendar for Fiscal Year 2026 to 2027 in the Budget Documents below in this section for the timing of each step in the budget process.
Budget Meetings and Hearings
The following paragraphs are updated as each of the relevant steps unfolds.
Budget Workshop
The annual budget process for Fiscal Year 2026 to 2027 formally started on May 6, 2026, when the Town Council adopted Resolution Number 2026-01 with a proposed rate of 0.8000 mills. This proposed millage was published on the annual TRIM Notices to property owners in August and established, for all intents and purposes, the maximum millage rate for the next step in the budget process for Fiscal Year 2026 to 2027.
It is prudent to set the proposed millage rate at a more elevated level than may be anticipated to be necessary, in order to enjoy flexibility in September, when the rate can be lowered over the course of 2 public hearings, if circumstances are favorable. The rolled-back rate and updated gross taxable values were not yet available that early in the year. The proposed millage rate was 21.36% higher than the rolled-back rate of 0.6592, which was a rate not yet known in early May. The rolled-back rate is the millage rate estimated to result in the same Ad Valorem revenue next year as in the current year.
Tentative Budget Hearing
On September 14, 2026, the Town Council held the Tentative Budget Hearing at Town Hall. By then, much more information was known to help the Town Council finetune the millage and budget. The Town Council adopted a tentative millage rate of 0.6000, which is 8.98% below the rolled back rate. The unadopted tentative budget (based on the proposed millage rate) and the adopted tentative budget (following approval by the Town Council) are provided below as links in the Budget Documents.
Final Budget Hearing
On September 21, 2026, the Town Council held the Final Budget Hearing at Town Hall. The millage rate adopted at this meeting is the only millage rate actually applied by the Indian River County Tax Collector for the levy of local property taxes for the Town of Orchid. The millage rate was held steady at 0.6000, which is 8.98% below the rolled back rate and thus signifies a tax decrease!
The Town Council determines each millage rate with the aid of a budget workbook, which is updated in advance of every budget meeting. Please email the Town Manager to request a copy of any of the 3 workbooks used for the budget of Fiscal Year 2026 to 2027.
Evolution of Revenue Budget
The following table includes the revenue figures for the unadopted tentative budget, which was a draft budget based on the proposed millage rate prepared for discussion at the tentative budget hearing, the adopted tentative budget following the tentative budget hearing, and the annual budget adopted by the Town Council for Fiscal Year 2026 to 2027.
| Revenues | Unadopted Tentative Budget | Adopted Tentative Budget | Adopted Annual Budget |
|---|---|---|---|
| Ad Valorem Taxes | 560,320 | 420,240 | 420,240 |
| Intergovernmental | 196,877 | 196,877 | 196,877 |
| Licenses & Permits | 101,000 | 101,000 | 101,000 |
| Interest | 100,000 | 100,000 | 100,000 |
| Other | 100 | 100 | 100 |
| Total Revenue Sources | 958,297 | 818,217 | 818,217 |
| Carried-forward Fund Balance including Reserves | 3,409,267 | 3,405,726 | 3,405,726 |
| Total Revenues & Balances | 4,367,564 | 4,223,943 | 4,223,943 |
Evolution of Expenditure Budget
The following table includes the expenditure figures for the unadopted tentative budget, which was a draft budget prepared for discussion at the tentative budget hearing, the adopted tentative budget following the tentative budget hearing, and the annual budget adopted by the Town Council for Fiscal Year 2026 to 2027.
| Expenditures | Unadopted Tentative Budget | Adopted Tentative Budget | Adopted Annual Budget |
|---|---|---|---|
| General Government | 615,119 | 629,405 | 621,405 |
| Public Works | 154,240 | 154,240 | 154,240 |
| Town Hall Lease | 34,565 | 34,565 | 37,565 |
| Capital Outlay | 13,000 | 13,000 | 13,000 |
| Total Expenditures | 819,924 | 834,210 | 826,210 |
| Fund Balance including Reserves | 3,547,639 | 3,389,733 | 3,397,733 |
| Total Appropriated Expenditures, Reserves & Balances | 4,367,564 | 4,223,943 | 4,223,943 |