When it meets May 10 in Key West, the Board of Governors is expected to sign off on a $43.2 million budget proposal for FY 2024-25.

The proposed spending plan, which was revised after being published for member objection, projects $43.2 million in revenues and $48.4 million in expenses for an operating loss of $5.2 million.

The proposed revenue reflects a 1.5% increase from FY 2023-24, and a 6.6% increase in expenses over the same period.