|
|
File #:
|
MISC 25-05
Version:
2
|
Name:
|
MISC 25-05 Tentative Budget Approval
|
|
Type:
|
Miscellaneous Item
|
Status:
|
Passed
|
|
On agenda:
|
5/6/2025
|
Final action:
|
5/6/2025
|
|
Title:
|
The Mayor and City Council shall discuss and possibly take action on adopting a tentative budget for fiscal year 2025-2026 (FY25-26) and the 10-Year Capital Improvement Plan. Discussion and Action.
|
TITLE
The Mayor and City Council shall discuss and possibly take action on adopting a tentative budget for fiscal year 2025-2026 (FY25-26) and the 10-Year Capital Improvement Plan. Discussion and Action.
AGENDA ITEM DESCRIPTION
In compliance with Title 42 of the Arizona Revised Statutes (A.R.S.), the tentative budget for FY25-26 is presented for Council consideration. The tentative operating and capital budgets, based on Council strategic priorities and staff input, total $344,464,442. The tentative operating budget totals $146,664,158 and the tentative Capital Improvement Projects (CIP) budget totals $197,800,283.
Final budget adoption is scheduled for June 3, 2025, at a Council Meeting.
Operating Budget
The proposed operating budget was developed through input from the February 5, 2025, and April 23, 2025, Council Budget and Finance Committee (BFC) meeting. Based on these meetings, the proposed FY25-26 tentative operating budget totals $146,664,158. The totals, by fund, are as follows:
|
Operating Budget |
|
|
General Fund |
$ 81,874,675 |
|
Special Revenue |
|
|
Highway User Revenue Fund |
$ 4,883,585 |
|
1/2 Cent County Road Tax |
$ 2,110,000 |
|
Grants Operating Fund |
$ 51,613,310 |
|
Debt Service Fund |
$ 6,182,588 |
|
Total Operating Expenditures |
$ 146,664,158 |
The information above includes all operating funds of the City with the General Fund being the largest operating fund.
Capital Budget
The 10-Year Capital Improvement Plan (Plan) serves as the basis for developing the FY25-26 Capital Improvement Projects (CIP) budget. Based on the Plan, the FY25-26 tentative CIP budget totals $197,800,283 and is as follows:
|
Capital Project Funds |
|
|
General Government CIP |
$ 43,888,398 |
|
Grants CIP |
$ 39,130,805 |
|
Fire Impact Fee Fund |
$ 2,560,000 |
|
Library Impact Fee Fund |
|
|
Parks Impact Fee Fund |
$ 2,905,228 |
|
Police Impact Fee Fund |
|
|
Transportation Impact Fee Fund |
$ 4,753,570 |
|
Special Revenue Funds |
|
|
Commuting Corridors Sales Tax Fund |
$ 50,000,000 |
|
Highway User Revenue Fund |
$ 11,196,966 |
|
1/2 Cent County Road Tax |
$ 10,783,072 |
|
Asset Replacement Fund |
$ 4,994,144 |
|
Land Acquisition Enhancement Fund |
$ 11,270,211 |
|
Revenue Bond |
$ 16,317,889 |
|
Total Capital Project Funds |
$ 197,800,283 |
PRESENTER
This item will be presented by Matt Kozlowski, Chief Financial Officer.
STAFF RECOMMENDATION
Staff recommends that the Mayor and Council adopt the tentative budget for fiscal year 2025-2026 (FY25-26) and the 10-Year Capital Improvement Plan.
|