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Discussion of issues relating to the Fiscal Year 2019-2020 Final Budget.
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Summary:
The key dates in the development of the FY 2019-2020 Budget were as follows:
* March 25, 2019: Staff budget kick-off meeting.
* March 25 - April 29, 2019: Preparation of departmental budget requests.
* April 29 - May 22, 2019: City Manager/Assistant City Manager/Finance Director Meetings with Department Heads to discuss FY 2018-2019 budget estimates and FY 2019-2020 budget requests.
* June 24, 2019: City Council budget workshop.
* August 1, 2019: City Manager submitted the Proposed FY 2019-2020 Budget, and Council called a public hearing.
* August 20, 2019: Council conducted public hearing on the proposed FY 2019-2020 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 2019-2020 Budget. Subsequent to the public hearing on the budget, it has become necessary to include certain changes in the final budget document. 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 2019-2020 Budget presented to Council on August 1, 2019 (note: these changes are itemized on the attached explanation of changes):
General Fund = Total increase of $257,748.
Special Revenue Fund = Total decrease of $45,000.
Debt Service Fund = Total decrease of $320,058.
Water & Sewer Fund = Total increase of $291,852
Capital Improvements Fund = Total increase of $800,000.
Golf Course Lease Fund = Total increase of $160,000.
These changes result in a net increase in expenditures of $1,144,542 in the final proposed budget. The final totals by fund are summarized below:
General Fund - $45,750,008
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