From
Patricia Alexander
Title
Second Public Hearing on the FY 2018/2019 Operating Budgets and Ordinance adopting the FY 2018/2019 CIty Operating Budgets
Presenter
Cathy Patrick, Management Services Director
Recommend Action
Conduct second Public Hearing and Approve
Analysis
On August 7, 2018, the City Manager’s proposed budget was submitted to the City Council. An overview of the proposed budget was presented to the City Council at the briefing session. The City Council met to deliberate the proposed budget at the workshop on August 23, 2018.
Financial Consideration
The combined FY 2018/2019 City Operating Budgets proposed total is $382,991,946. Significant changes and issues included in the Proposed FY 2018/2019 Operating Budgets are summarized as follows:
GENERAL FUND RESOURCES $159,075,570
Taxable value increase of 6.12% increase of $3,858,093
Decrease in Proposed property tax rate from .471196 to .463696 (moved .007500 to Debt Service)
Increase in TIF Reimbursement, Interest & Delinquent Taxes of ($10,214)
Increase in sales tax of $707,510
Increase in franchise fee and other taxes of $508,139
Increase in Charges for Services of $11,860
Increase in licenses and permits of $146,480
Decrease in fines/forfeits of ($319,780)
Increase in inter/intra governmental revenue $39,780
GENERAL FUND APPROPRIATIONS $138,695,486
Proposed improvements in the General Fund include:
Civil Service Step
Merit/Compensation Plan
Proposed capital outlay in the General Fund totals $654,337 and includes vehicle replacements
WATER AND WASTEWATER FUND $79,513,682
An average increase of 4.5% to water and wastewater rates to residential, commercial and industrial customers.
Includes increase in water and wastewater purchase costs for anticipated growth and system demands.
GENERAL OBLIGATION DEBT SERVICE FUND $31,341,118
Meets debt service requirements.
Increased tax rate from .198802 to .206302 (moved .007500 from the General Fund).
EMPLOYEE INSURANCE FUND $21,716,665...
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