FY 2026 Adopted Budget - Flipbook - Page 25
public and the enhancement of the City’s image. Revenues for these services do not necessarily
cover costs and do require an annual commitment to continue. Major examples are as follows:
Economic Development Incubator:
D
In its second year of operation, the UCF/Eustis Business Incubator provides aspiring and
young businesses with the entrepreneur development services that were envisioned
whenthe City, Mega Workplace, and the County partnered to establish the
program. The Incubator framework facilitates valuable networking prospects, host
events, and conductworkshops aimed at cultivating robust business relationships and
fostering a supportive entrepreneurial ecosystem. The UCF/Eustis Business Incubator
allows the City’s EconomicDevelopment Department to provide customized assistance
to aspiring entrepreneurs, startups, and emerging businesses, which results in the
creation of new jobs and economicgrowth.
The 2024 annual report lists the following notable accomplishments among the year’s
results: 88 prospective client meetings, 22 attendees in the Business Modeling Bootcamp
and 120 businesses referred to resource organizations, including SBDC, LEAD,
Makerspace, Starter Studio.
E
Over a three-year span 2023 - 2026, Lake County will contribute $450,000 to match the City’s
$150,0000 contribution to fund the UCF/Eustis Business Incubator. The funding from Lake
County helps establish the City as the hub of entrepreneur development in the county. The
programmatic aspect of Incubator operations is facilitated by the University of Central
Florida Research Foundation (UCFRF) and is housed at Mega Workplace.
Greenwood Cemetery:
D The City has budgeted funding in FY 2025/26 for cemetery improvements to include design
and construction of landscaping and grounds beautification.
E Annual revenues are budgeted at $21,850 (Greenwood Cemetery, page 3).
F The current required reserve balance is $250,594.
G The General Fund’s annual operating expenditure for the cemetery is $11,000.
H In FY 2024/25, an effort is underway to update the ordinance and the by-laws, which
entail revisions to the fee structure and introduce a revenue source for perpetual
care. Due to the growth of the cemetery, perpetual care funds will ensure adequate
resources are available to maintain the grounds, walkways and memorial markers.
Community Events:
D
The budget includes $1,367,618 (CM Events & Tourism Expenditures, page 14) in
expenditures for a wide array of City events, festivals, activities, and celebrations,
whichwill attract visitors and help provide economic stimulation within the City. The
City fundsmost of all events with a small amount raised by sponsors.
E Several City departments, including Fire, Police, Parks and Recreation, and Public Works
incur the time and overtime costs for these events which are absorbed into the
respectivedepartmental budgets.
Parks & Recreation:
D The annual operating budget for the department is $1,930,873 (Parks & Recreation
Expenditures, page 213). Capital outlay for Parks and Recreation is $35,000 in the General
Fund with an additional capital outlay of $115,000 in the Capital Improvement Projects
budget in the Sales Tax Capital Projects Fund (Capital Projects Parks & Recreation, page
22).
Additional information can be found on the City’s website: https://www.eustis.org/ and the
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