TITLE
A Resolution of the Mayor and City Council of the City of Maricopa, Arizona adopting the final budget for fiscal year 2019-2020 (FY19-20). Discussion and Action.
AGENDA ITEM DESCRIPTION
In compliance with Title 42 of the Arizona Revised Statutes (A.R.S.), the final budget for FY19-20 is presented for council consideration. The final operating and capital budget, based on Council strategic priorities and staff input, totals $105,654,318. The final operating budget totals $$67,568,626 and the final Capital Improvement Projects (CIP) budget totals $38,085,692.
Per state statute, the tentative budget was adopted on May 7, 2019. Additionally, a public notice indicating the final budget adoption was to take place on June 4, 2019 was published on May 16, 2019 and again on May 28, 2019.
Operating Budget
The operating budget request was developed through input from the April 15, 2019 Council Budget and Finance (BF) Subcommittee.
Based on this meeting, the FY19-20 operating budget request totals $67,568,626. The totals, by fund, are as follows:
General Fund $ 48,336,095
Special Revenue Funds
Highway User Revenue Fund $ 5,326,370
Grants Operating Fund $ 7,800,000
1/2 Cent County Road Tax $ 2,100,000
Debt Service Fund $ 4,006,161
Total Operating Expenditures $ 67,568,626
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:
1. The 19-20 Tentative Budget is $900,000 less than the previous year.
2. There will be no increase to the primary property tax rate.
3. For the first time in this City’s history this budget establishes an asset replacement fund and sets aside additional money in support of self-insured loses and disaster contingency reserves.
4. Fundin...
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