City Council Combined AGENDA

Return to the Search Page Return to the Agenda

19.

Meeting Date:	09/19/2019
Prepared By:	Robert Powers, Finance Director

AGENDA SUBJECT:

Conduct a Public Hearing to consider proposed budget for Fiscal Year 2020.

Discuss and consider action on an Ordinance adopting a budget for the fiscal year beginning October 1, 2019 and ending September 30, 2020; appropriating the various amounts thereof, and repealing all Ordinances or parts of Ordinances in conflict therewith; and providing for an effective date.

BACKGROUND:

After the public hearing on the proposed budget for Fiscal Year 2020, the City Council can adopt the proposed budget, with or without amendments. State law requires that a budget be adopted before the governing body can set the tax rate. State law also requires that adoption of a budget that raises more revenue from property taxes than in the previous year will first require a separate vote of the governing body to ratify the property tax increase reflected in the budget. The increase in property tax revenue is Three Million Seven Hundred Ninety-One thousand Five Hundred ($3,791,500.00) Dollars or 13.1%, and of that amount, Two Million Seven Hundred Two Thousand Seven Hundred One ($2,702,701.00) Dollars, or 71.3% is tax revenue to be raised from new property added to the tax roll this year.

The proposed budget is based upon a tax rate reduction of one cent from the current 55.1867 cents per $100 to 54.1867 cents. The budget includes twenty-four (24) new positions, twenty (20) in the General Fund and four (4) in the Utility Fund. We anticipate ending the current fiscal year 2019, with a surplus above our Charter-required minimum by One Million Five Hundred Thousand ($1,500,000.00) Dollars. This surplus is recommended, similar to previous budgets, to be used for funding capital improvement projects. In the Utility Fund, we are proposing the second year of a One ($1.00) Dollar decrease in the water reserve charge from Four ($4.00) Dollars per living unit equivalent (L.U.E.) to Three ($3.00) Dollars.

RECOMMENDED TAX RATE
Maintenance & Operations                      $0.319867
Debt Service                                            $0.222000
Combined Total Recommended              $0.541867            per $100 valuation

RECOMMENDATION:

Motion #1 – move to ratify the property tax increase reflected in the proposed budget.

Motion #2 – move to approve the proposed budget for FY 2020.

PRESENTER:

Robert G. Powers, Finance Director

Attachments
1. Budget Ordinance
2. Proposed Budget Overview