Title
Discussion of issues relating to the Fiscal Year 2017-2018 Final Budget.
Body
Summary:
The key dates in the development of the FY 2017-2018 Budget were as follows:
* March 27, 2017: Staff budget kick-off meeting.
* March 27 - May 1, 2017: Preparation of departmental budget requests.
* May 1 - May 25, 2017: City Manager/Assistant City Manager/Finance Director Meetings with Department Heads to discuss FY 2016-2017 budget estimates and FY 2017-2018 budget requests.
* June 26, 2017: City Council budget workshop.
* July 31, 2017: City Manager submitted the Proposed FY 2017-2018 Budget. Council called a public hearing.
* August 15, 2017: Council conducted public hearing on the proposed FY 2017-2018 Budget.
The City Charter states that the budget shall, by ordinance, be adopted no later than the last regular meeting in September of each year. Therefore, it is now time for Council to adopt the Final FY 2017-2018 Budget. Subsequent to the public hearing on the budget, it has become necessary to include certain changes in the final budget document. These changes include items that were budgeted, but not completed, in FY 2016-2017. The City Charter states that after the public hearing, but before final adoption of the proposed budget, the Council may delete or insert items of expenditure or may increase or decrease the amount of any item of expenditure, except those fixed by law. The following summarizes the changes from the Proposed FY 2017-2018 Budget presented to Council on July 31, 2017 (note: these changes are described in more detail on the attached explanation of changes):
General Fund: The total increase of $46,470 - to be funded by prior year revenue - represents $5,469 for additional personnel costs related to recent reclassifications, $20,856 to cover TMRS for part-time staff expected to exceed the 1,000 hour threshold, and $20,145 of capital outlay for budgeted projects that will not be completed in the current fiscal year.
Special Revenue Fund...
Click here for full text