TITLE
The Mayor and City Council shall discuss and possibly take action on adopting a tentative budget for FY12-13. Discussion and Action.
AGENDA ITEM DESCRIPTION
In compliance with Title 42 of the Arizona Revised Statutes (A.R.S.), the tentative budget for FY12-13 is presented for council consideration. The tentative operating and capital budget, based on Council strategic priorities and staff input, totals $175,175,441. The tentative operating budget totals $46,034,997 and the tentative Capital Improvement Projects (CIP) budget totals $129,140,444.
Final budget adoption is schedule for the June 5, 2012 Special Council Meeting.
Operating Budget
At the March 28, 2012 Council Budget, Finance and Operations (BFO) Subcommittee meeting, staff presented the subcommittee members with the initial City Manager’s recommended operating budget. Based on changes recommended at the BFO subcommittee meeting, staff subsequently presented a revised operating budget request at the April 27, 2012 City Council Budget Retreat. Those changes are incorporated in the proposed FY12-13 tentative operating budget request totaling $46,034,997. The totals, by fund, are as follows:
Operating Expenditure Request
General Fund $ 29,795,508
Highway User Revenue Fund 1,414,198
Grants Fund 12,704,243
Debt Service Fund 2,121,048
Total Operating Request $ 46,034,997
The information above includes all operating funds of the City with the General Fund being the largest operating fund. Highlights of the General Fund tentative operating budget are as follows:
· Staff utilized a zero-based budget approach
· Planned expenditures are $111,409 less than anticipated revenues
· Includes $1.7 million in reductions, which exceeds the $1 million reduction per Council’s direction to address the structural deficit over four years
· Includes no increase to primary or secondary property tax levies
· Removes general governmental CIP projects, along with the fun...
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