AGENDA CAPTION:
Title
Consider approval of Ordinance 2017-48, on the second of two readings, adopting a Budget in the amount of $214,053,615 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.
Body
Meeting date: September 5, 2017 - Public Hearing and 1st Reading
September 19, 2017 - 2nd Reading
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 $214,053,615 a 13.9% or $27.0M, 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...
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