E. Finance, Taxation, and Bonds

Charter Review Advisory Board · 2026-05-28 · agenda_item

The Charter Review Advisory Board of the City of Panama City has reviewed the city's charter regarding finance, taxation, and bonds. Article XVI (Bonds) and most of Article XIV (Finance Generally) have been removed. A provision requiring the City Manager to submit annual budget estimates to the Commission was moved to the City Manager article. The Board recommends leaving the business and merchant tax authority in Article XV unchanged to preserve its legal basis. The Board also considered a mandatory reserve requirement for the General Fund but decided against including it in the charter at this time due to the ongoing unusual fiscal environment following Hurricane Michael. The Board recommends revisiting this issue when the city's finances stabilize. This item is currently under review and has been recommended for action by the Board. The work involves legal review and administrative changes to the city's governing documents. No construction or direct contracting work is indicated at this stage. Local businesses involved in legal services and government administration may find opportunities related to the review and implementation of these charter changes.