§ City government · Budget
A $144.5 million proposed year.
The City of Lake Wales' proposed budget for fiscal year 2026–2027 totals $144,473,884 across thirteen funds, at a proposed millage rate of 8.0462 mills. Here is the fund-by-fund breakdown.
Headline numbers · FY 2026–2027
Source: City of Lake Wales, proposed FY 2026-2027 budget — Ordinances 2026-18 and 2026-19, first reading September 2, 2026.
- All funds
- $144,473,884
- Proposed millage
- 8.0462 mills
- Rolled-back rate
- 7.5304 mills
- Operating vs. prior year
- +16.9%
The proposed rate of 8.0462 mills exceeds the rolled-back rate of 7.5304 mills by 6.85%, which requires the city to advertise a tax increase.
Fund by fund · Schedule A
Each fund's total estimated revenues and reserves, as proposed. The Utility System, General, and CRA funds carry the large majority of the budget.
| Fund | Amount | Share | Bar |
|---|---|---|---|
| General FundFund 001 | $44,151,404 | 30.56% | |
| Transportation FundFund 102 | $4,118,176 | 2.85% | |
| Community Redevelopment Area (CRA) FundFund 105 | $33,387,628 | 23.11% | |
| Police Forfeitures FundFund 106 | $3,000 | 0.00% | |
| Speed Enforcement FundFund 112 | $700,000 | 0.48% | |
| Law Enforcement Fund (JAG grants)Fund 116 | $15,000 | 0.01% | |
| Debt Service FundFund 201 | $3,740,813 | 2.59% | |
| Capital Projects Fund (impact fees)Fund 330 | $2,622,000 | 1.81% | |
| Memorial Gardens Cemetery FundFund 402 | $1,020,200 | 0.71% | |
| Utility System Fund (water, sewer, reuse)Fund 403 | $49,822,250 | 34.49% | |
| Airport FundFund 404 | $2,254,470 | 1.56% | |
| Storm Water FundFund 408 | $1,170,200 | 0.81% | |
| Library FundFund 410 | $1,468,743 | 1.02% | |
| Total | $144,473,884 |
Where the money comes from
| Source | Amount | Share | Bar |
|---|---|---|---|
| Revenues | $63,234,743 | 43.77% | |
| Other Financing Sources | $52,203,322 | 36.13% | |
| Transfers In | $4,783,813 | 3.31% | |
| Fund Balance and Reserves | $24,252,006 | 16.79% | |
| Total | $144,473,884 |
Where it goes
| Category | Amount | Share | Bar |
|---|---|---|---|
| Operating Expenditures | $51,696,497 | 35.78% | |
| Capital Outlay (Schedule C) | $70,358,057 | 48.70% | |
| Transfers Out | $4,783,813 | 3.31% | |
| Fund Balances and Reserves | $17,635,517 | 12.21% | |
| Total | $144,473,884 |
Capital expenditures proposed for FY 2026–2027 are itemized in Schedule C of the budget document.
Millage and budget hearings
July 15, 2026
Taxable value certified, interim millage set
The City Commission accepted the Polk County Property Appraiser's 2026 certification of taxable value, set the interim millage rate, and set the FY 2026-2027 budget hearing dates.
September 2, 2026
First reading and public hearing
Ordinance 2026-18 (millage rate of 8.0462 mills) and Ordinance 2026-19 (operating budget) received first reading and separate public hearings at the 2:00 p.m. commission workshop, 201 W. Central Avenue.
September 9, 2026
Budget hearings, regular meeting
Budget hearings for Ordinances 2026-18 and 2026-19 were carried on the 6:00 p.m. regular meeting agenda in Commission Chambers, 201 W. Central Avenue.
Date to confirmNeeds verification
Final adoption
The final adoption date and adopted totals should be confirmed against the city's adopted ordinance before being cited as final.
What the proposed budget funds
- $1,000,000 for street resurfacing, enough to resurface roughly 5 to 6 miles of city streets under the pavement preservation plan, plus restriping, sidewalk repair, and a new curb and concrete rehabilitation program.
- Completion of the second phase of the Memorial Gardens Cemetery expansion, adding 1,190 adult lots, 48 children's lots, and 272 cremation spaces, with office, equipment barn, signage, and staffing improvements.
- A permanent emergency generator for City Hall, with installation anticipated in FY 2027 because of a 25 to 29 week equipment lead time.
General Fund balance at September 30, 2025: $6,378,240 unassigned, $6,813,220 total. The city's 2011 reserve policy targets 15% to 20% of total General Fund operating costs; at September 30, 2025 unassigned and assigned balances represented 24% of total general fund expenditures.
Budget adoption process
- 1
May
Goals and department requests
- 2
June–July
Proposed expenditures, revenue estimates, and workshops
- 3
August
Balanced proposed budget and revisions
- 4
September
Two public hearings, millage-rate decision, and final adoption
For comparison · FY 2024–2025
Source: City of Lake Wales, FY 2024-2025 municipal report.
The earlier reported total primary-government budget was $107,822,344, allocated across these categories.
| Category | Amount | Share | Bar |
|---|---|---|---|
| General Government | $4,570,984 | 4.24% | |
| Public Safety | $17,041,326 | 15.81% | |
| Physical Environment | $27,503,906 | 25.51% | |
| Transportation | $4,451,515 | 4.13% | |
| Economic Environment | $18,528,574 | 17.18% | |
| Human Services | $118,600 | 0.11% | |
| Culture and Recreation | $7,515,466 | 6.97% | |
| Debt Services | $4,606,470 | 4.27% | |
| Transfers Out | $10,657,341 | 9.88% | |
| Fund Balances and Reserves | $12,828,162 | 11.90% | |
| Total | $107,822,344 |