City Council Combined AGENDA


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  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


    

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