AGENDA CAPTION:
Title
7:00PM Receive a Staff presentation and hold a Public Hearing to receive comments for or against the approval of Ordinance 2017-48, adopting a Budget in the amount of $213,968,615 for the Fiscal Year beginning October 1, 2017 and ending September 30, 2018; authorizing certain adjustments to the Budget with the approval of the City Manager; approving fiscal year 2017-2018 Capital Improvements Program Projects; and consider approval of Ordinance 2017-48, on the first of two readings.
Body
Meeting date: September 5, 2017
Department: Finance Department, Heather Hurlbert, Director of Finance
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
CITY COUNCIL GOAL: Maintain Fiscal Responsibility
BACKGROUND:
This year’s budget totals $213,968,615, a 13.9% or $26.9M, increase from fiscal year 2017. The budget proposes a tax rate of 61.39 cents per $100 valuation and increase of 8.37 cents from the adopted fiscal year 2017 rate of 53.02 cents. Voters approved the increase of 8.37 cents for the debt service of and operating expenses for public safety and library projects.
The proposed budget accomplishes numerous initiatives including continued city beautification and enhancement, code enforcement, key personnel, and sound finances. This budget appropriates amounts to fund the third year of the police and fire meet and confer agreement that was effective October 1, 2015, non-civil service employee merit increases, 5% health insurance increase, software for key processes, and professional services to support the continued growth and development of the City. Key personnel additions include electric engineering tech I, public services inventory tech, cross connection control bfp tech, water quality technician, drainage maintenance operator I, and a drainage engineer.
The fiscal year budget also includes economic development incentives for the new Best Buy call center totaling $4.7M and the new Amazon distribution center of $876K.
The City Council held workshops in April to formulate the budget policy. This policy was used to create the base budget and this, along with City Manager recommended additions, was presented to City Council during workshops on July 24 and July 26.
Exhibit A to the budget is the Authorized Personnel Schedule that has been updated to add the new positions discussed with the City Council at previous budget workshop meetings.