TITLE
A Resolution of the Mayor and City Council of the City of Maricopa, Arizona adopting the final budget for fiscal year 2017-2018 (FY17-18). Discussion and Action.
AGENDA ITEM DESCRIPTION
In compliance with Title 42 of the Arizona Revised Statutes (A.R.S.), the final budget for FY17-18 is presented for council consideration. The final operating and capital budget, based on Council strategic priorities and staff input, totals $77,096,283. The final operating budget totals $65,248,440 and the final Capital Improvement Projects (CIP) budget totals $11,847,843.
Per state statute, the tentative budget was adopted on May 16, 2017. Additionally, a public notice indicating the final budget adoption was to take place on June 20, 2017 was published on June 6, 2017 and again on June 13, 2017.
Operating Budget
The operating budget request was developed through input from the April 20, 2017 Council Budget, Finance and Operations (BFO) Subcommittee.
Based on this meeting, the FY17-18 operating budget request totals $65,248,440. The totals, by fund, are as follows:
Final Operating Expenditures:
General Fund $ 43,118,460
Highway User Revenue Fund 2,363,513
Copper Sky Recreation Fund 4,979,278
Grants Fund 11,093,686
Debt Service Fund 3,693,503
Total $ 65,248,440
The information above includes all operating funds of the City with the General Fund being the largest operating fund. Highlights of the tentative operating budget are as follows:
The proposed budget maintains the primary property tax rates at the same rate as in FY16-17.
Increases Funding for Court
Budgets 4% Increase in Salaries
Adds 10 positions
Focuses on Equipment Replacement
Funds Design of Fire Administration Building
Capital Budget
The 5-Year Capital Improvement Plan (Plan) serves as the basis for developing the FY17-18 Capital Improvement Projects (CIP) budget. Based on the Plan, the FY17-18 final CIP budget totals $53,087,706 and is as follows:
Final Capital Improvement Projects (CIP) Expenditures:
General Governmental CIP $ 3,832,500
Grants CIP 1,396,000
Local Road Maintenance 147,460
County Road Tax 1,330,000
Transportation Impact Fee 4,119,343
Highway User Revenue Fund 982,540
Fire Impact Fee 40,000
Total Proposed CIP Expenditures $ 11,847,843
This item will be presented by Gregory Rose, City Manager, and Brenda Hasler, Financial Services Director.
STAFF RECOMMENDATION
Staff recommends passing the resolution of the Mayor and Council of the City of Maricopa, Arizona adopting the final budget for fiscal year 2017-2018.