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Consideration of and action on an ordinance adopting the FY 2017-2018 Budget.
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Summary: City staff began working on development of the FY 2017-2018 Budget during the early spring of 2017 when each department was asked to begin planning for the new fiscal year including consideration of cost cutting measures. A budget workshop was held on June 26, 2017 to assist in the preparation of the proposed budget. A public hearing on the proposed budget was held on August 15, 2017. It is now time for Council to consider action on the Final FY 2017-2018 Budget, which includes several changes from the Proposed FY 2017-2018 Budget presented to Council on July 31, 2017. These proposed changes, which total $385,620, are itemized on the attached Explanation of Changes, and while a more detailed review of the changes will be presented in the Council workshop, a brief summary of the changes by fund is as follows:
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 Funds: The total increase of $189,150 - to be funded by the prior year revenue of the Hotel/Motel Tax Fund - represents $169,150 for budgeted wayfinding signs that will not be completed in the current fiscal year, $5,000 for host fees for the Texas Non-Profit Theater Festival, and $15,000 for consulting services related to the Golf Course Bridge.
Water & Sewer Fund: The total increase of $50,000 - to be funded by fund reserves - represents an addition to the contingency in contemplation of possible effects from Hurricane Harvey that are unknown at this time.
Capital Improvements Fund: The total increase of $100,000 - to be funded by fund reserves - represents expenditures for budget...
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