Dear Honorable Mayor Christi Fraga, Members of the City Council, and Residents:
In accordance with the City of Doral Charter, the Code of Ordinances, and the laws of the State of Florida, I am pleased to present the City of Doral’s Adopted Operating and Capital Budget for Fiscal Year (FY) 2024 beginning October 1, 2023 and ending September 30, 2024.
The adopted FY 2024 budget is a responsible fiscal plan that stresses financial viability and sustainability, invests in public safety, and puts tax dollars to work to improve the quality of life in Doral.
The City of Doral celebrated a major milestone in the previous fiscal year. On January 28, 2023, the young municipality celebrated the 20th anniversary of its incorporation. In the last two decades, Doral has grown into one of the premier economic success stories in the region, and that well established trend toward upward mobility appears likely to continue unabated in the foreseeable future.
Certainly, estimated year-over-year changes in population and property values provide ample evidence of vigorous growth. Doral’s population has increased by 7% compared to 2021, to an estimated 81,182 inhabitants in 2022, according to the Florida Bureau of Economic and Business Research. For the last five years Doral has experienced an average growth in population of 4.84%. That annual population increase is reflected in the Miami- Dade County Property Appraiser’s estimate for this fiscal year of 10.5% increase in Doral’s Taxable Value.
The community is also seeing the benefits of the City of Doral’s Parks Bond Referendum, with the Doral Cultural Arts Center opening its doors and the Doral Central Park project reaching important milestones in the past year. Citizens can now enjoy wonderful exhibitions, carefully curated classes and diverse arts activities in a worldclass cultural facility that has been on the city’s wish list since its inception. In addition, the Doral community will soon be able to enjoy the new Doral Central Park, the final amenity to be completed from the city’s ongoing $150 million Parks Bond construction projects. As the citizen-approved bond projects are fully completed in the fourth quarter of 2025, Doral will continue to benefit both directly and indirectly, for years to come, providing quality of life for current and future generations.
It’s important to note that all these important public initiatives have been implemented while maintaining a responsible budget and robust reserves, an accomplishment which can be fully evidenced in this responsible, well-rounded budget. Doral’s stakeholders can find ample evidence of the city’s ongoing growth in the detailed economic information contained in this budget. As the city begins its third decade since incorporation, Doral’s residents, businesses, and investors can feel confident that the city’s economy is resilient and its future looks bright.
Barbie Hernandez
City Manager