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Sandridge Golf Course continues to realize financial growth, and revenues are once again projected to increase over the upcoming fiscal year. On June 20, 2025 Sandridge broke ground on the new clubhouse that is scheduled to c $12,321,083. Staff is currently engaged with our financial advisor and will begin the bond issuance process in Augus 2025. At the appropriate time, Staffwill present to the Board the recommended financing. Being that the clubhouse is not scheduled to open until after October 1, 2026, no associated revenues or expenses have been included in the proposed FY 25/26 budget. Per the Utilities Rate Study, adopted by the Board of County Commissioners on August 28, 2024, Utility rates are scheduled to increase by 12% on October 1, 2025. This increase in rates, coupled with new growth, is estimated to generate $8.6 million over the upcoming fiscal year. The County's Utility Services Integrated Master Plan, an 18 to 24 month endeavor, is underway as the project kicked off in October 2024, shortly following the Board's approval of HDR Engineering. Inc. on September 24, 2024. The plan is criticalto the future of our utilities system asthe plan will assess our system and infrastructure to identify needed capital repair and replacement items, as well as address future water and wastewater system needs. Additionally, the plan is paramount to the County's ability to plan for and implement the looming 2030 (HB 1379, 223) mandate requiring onsite sewage treatment and disposal systems (septic systems) to connect to central sanitary sewer services, if available. Prospective View The state remains concerned about future revenue estimates and the impact of DOGE at the federal level and how that impacts their revenues. It would be imprudentto believe if the statefaces revenue reductions local governments would not experience corresponding impacts. As much as the state is preparing for the impact of an economy cooling off and the potential of reduced intergovernmental revenues, so should Indian River County. While acknowledging the pressing economic and fiscal challenges that could potentially redefine our revenue landscape, our roadmap forward remains both resilient and innovative. Recognizing that traditional revenue sources fa unprecedented strain, we are committed to a strategythat prioritizes fiscal discipline, embraces revenue diversificati and focuses on delivering Service Excellence through improved efficiency and transparency. Lookingto the future, ourvision is built on several pillars: enhancing budgetary monitoring and control, advancing our data collection and reporting, executing planned projects through responsive project management, implementing our strategic plan to align fiscal policies/resources with the evolving needs of the County, and collaborating in a more proactive policy engagement with state and local partners. By remaining proactive and fiscally disciplined, we will continue to deliver essential services, foster economic resilience, and position Indian River County for sustainable growth. Together, we stand ready to meet these challenges head-on, transforming uncertainty into opportunity, and ensuring that our fiscal policies not onlyweatherthe storm but also drive us toward a more prosperous future. This message is intended to provide the Board with a general overview of the most significant changes in the proposed FY 2025/2026 recommended budget. A more detailed explanation will be provided during the workshop sessions. Respectfully, John A. Titkanich, Jr., ICMA-CM County Administrator 16 •