TITLE
A Resolution of the Mayor and City Council of the City of Maricopa, Arizona adopting the final budget for fiscal year 2018-2019 (FY18-19). Discussion and Action.
AGENDA ITEM DESCRIPTION
In compliance with Title 42 of the Arizona Revised Statutes (A.R.S.), the final budget for FY18-19 is presented for council consideration. The final operating and capital budget, based on Council strategic priorities and staff input, totals $87,877,440. The final operating budget totals $65,265,681 and the final Capital Improvement Projects (CIP) budget totals $22,621,759.
Per state statute, the tentative budget was adopted on May 15, 2018. Additionally, a public notice indicating the final budget adoption was to take place on June 19, 2018 was published on June 5, 2018 and again on June 12, 2018.
Operating Budget
The operating budget request was developed through input from the April 2, 2018 Council Budget, Finance and Operations (BFO) Subcommittee.
Based on this meeting, the FY18-19 operating budget request totals $65,265,681. The totals, by fund, are as follows:
Final Operating Expenditures:
General Fund $ 42,004,885
Highway User Revenue Fund 2,088,042
Copper Sky Recreation Fund 2,461,371
Grants Fund 15,039,436
Debt Service Fund 3,671,947
Total $ 65,265,681
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 FY17-18.
Budgets 4% Increase in Salaries
Adds 10 positions
Focuses on Equipment Replacement
Capital Budget
The 5-Year Capital Improvement Plan (Plan) serves as the basis for developing the FY18-19 Capital Improvement Projects (CIP) budget. Based on the Plan, the FY18-19 final CIP budget totals $22,621,759 and is as follows:
Final Capital Improvement Projects (CIP) Expenditures:
General Governmental CIP $ 6,782,390
Grants CIP 4,070,558
County Road Tax 1,680,000
Transportation Impact Fee 8,755,187
Parks Impact Fee 445,239
Highway User Revenue Fund 833,550
Police Impact Fee 5,024
Fire Impact Fee 49,811
Total Proposed CIP Expenditures $ 22,621,759
This item will be presented by Trisha Sorensen, Interim 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 2018-2019.