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The original item was published from 8/19/2021 5:55:36 PM to 8/25/2021 6:20:36 PM.

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Posted on: August 19, 2021

[ARCHIVED] Fiscal Year 2022 Budget

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The first reading of the FY2022 budget ordinance will be presented to City Council at the August 24, 2021 meeting for consideration.  The budget ordinance has been modified from the FY2022 proposed budget presented to Council on July 13, 2021 due to the following:

General Fund Property Tax revenue reduced $990,000 based on Council’s proposal of the 2021 tax rate of $0.465526, which is one cent less than the no-new-revenue rate used to prepare the proposed document.

Due to the anticipated decrease in property tax revenue, General Fund expenses are reduced by $990,000 in FY2022 from the amount proposed which include the reduction of 6 new positions and 6 new vehicles requested in the original proposed document.  The reduction also removes funding in the CIP for a Fire Arms Training Facility study and a Police Academy needs assessment.  One item, the completion of Engineering benchmarks, was added for $30,000 to be funded with General Fund’s excess fund balance. 

The first reading of the FY2022 budget ordinance also includes an additional $990,000 in General Fund’s excess fund balance to cash fund projects which will lower future debt issuance.  This transfer will lower the General Fund working days of capital to 112.6, which is 2.6 days over the 110 days required by policy.

Minor changes were also made to the Utility Fund, 4B M&O Fund and the Hotel/Motel Tax Fund. Second and final reading of the budget ordinance will be considered by City Council at the September 14th meeting.

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