From
Kathleen C. Mercer
Title
Adoption of the FY 2020/2021 Operating Budgets
Presenter
Kathleen C. Mercer, Director of Budget/Purchasing
Recommended Action
Approve
Analysis
On August 13, 2020, the City Manager’s proposed budget was submitted to the City Council. The City Council met to review the proposed budget at the workshop on August 21, 2020.
Financial Consideration
The combined FY 2020/2021 City Operating Budgets proposed total is $406,504,723. Significant changes and issues included in the Proposed FY 2020/2021 Operating Budgets are summarized as follows:
GENERAL FUND RESOURCES $142,131,147
Taxable value increase of 4.5751% increase of $3,207,012
Increase in Proposed property tax rate from .457128 to .460638 (moved .00351 from Debt Service)
Increase in TIF Reimbursement, Interest & Delinquent Taxes of ($2,383,985)
Decrease in sales tax of ($196,012)
Decrease in franchise fee and other taxes of ($236,656)
Decrease in Charges for Services of ($699,381)
Decrease in licenses and permits of ($262,705)
Decrease in fines/forfeits of ($1,523,373)
Increase in inter/intra governmental revenue $59,177
Increase in Indirect Cost of $379,156
Decrease in Miscellaneous Revenues ($7,706)
GENERAL FUND APPROPRIATIONS $148,046,434
Proposed improvements in the General Fund include:
Civil Service Step
Frozen positions, reduced supplies, other charges and services and capital outlay
Proposed capital outlay in the General Fund totals $662,000 and includes vehicle replacements
WATER AND WASTEWATER FUND $85,741,139
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.
Includes funding for capital outlay.
GENERAL OBLIGATION DEBT SERVICE FUND $34,314,433
Meets debt service requirements.
Decrease in Proposed property tax rate from .212870 to .209360 (moved .00351 from General Fund)...
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