From
Kathleen C. Mercer
Title
Second Public Hearing and adoption of the FY 2017/2018 Operating Budgets
Presenter
Kathleen C. Mercer, Director of Budget/Purchasing
Recommend Action
Approve
Analysis
On August 1, 2017 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 25, 2017.
Financial Consideration
The combined FY 2017/2018 City Operating Budgets proposed total is $360,496,213. Significant changes and issues included in the Proposed FY 2017/2018 Operating Budgets are summarized as follows:
GENERAL FUND RESOURCES $129,995,619
Taxable value increase of 9.77% increase of $5,619,860
Decrease in Proposed property tax rate from .473549 to .471196 (moved .002353 to Debt Service)
Increase in TIF Reimbursement, Interest & Delinquent Taxes of ($684,574)
Increase in sales tax of $2,944,923
Decrease in franchise fee and other taxes of ($279,260)
Increase in Charges for Services of $162,605
Decrease in licenses and permits of ($122,210)
Decrease in fines/forfeits of ($15,635)
Decrease in inter/intra governmental revenue ($52,635)
Increase in indirect cost of $205.235
Increase in miscellaneous revenues of $346,375
GENERAL FUND APPROPRIATIONS $132,805,965
Proposed improvements in the General Fund include:
Civil Service Step
Merit/Compensation Plan
Proposed capital outlay in the General Fund totals $842,900 and includes:
Vehicle replacements
WATER AND WASTEWATER FUND $76,130,928
An average increase of 4.25% 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 $29,561,808
Meets debt service requirements.
Increased tax rate from .196449 to .19...
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