TITLE
The Mayor and City Council shall discuss and possibly take action on adopting a tentative budget for fiscal year 2021-2022 (FY21-22) and the 5-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 FY21-22 is presented for Council consideration. The tentative operating and capital budgets, based on Council strategic priorities and staff input, total $181,013,784. The tentative operating budget totals $106,394,694 and the tentative Capital Improvement Projects (CIP) budget totals $74,619,090.
Final budget adoption is scheduled for June 15, 2021, at a Council Meeting.
Operating Budget
The proposed operating budget was developed through input from the April 20, 2021 Council Budget and Finance Committee (BFC) meeting. Based on this meeting, the proposed FY21-22 tentative operating budget totals $106,394,694. The totals, by fund, are as follows:
|
General Fund |
$ 54,795,147 |
|
Special Revenue Funds |
|
|
Highway User Revenue Fund |
$ 2,767,501 |
|
Grants Operating Fund |
$ 43,319,071 |
|
1/2 Cent County Road Tax |
$ 2,110,000 |
|
Local Road Maintenance Fund |
$ 150,000 |
|
Debt Service Fund |
$ 3,252,975 |
|
Total Operating Expenditures |
$ 106,394,694 |
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:
• Reduction in primary property tax rate
• Reduction in secondary property tax rate
Capital Budget
The 5-Year Capital Improvement Plan (Plan) serves as the basis for developing the FY21-22 Capital Improvement Projects (CIP) budget. Based on the Plan, the FY21-22 tentative CIP budget totals $74,619,090 and is as follows:
|
Capital Project Funds |
|
|
General Government CIP |
$ 26,231,216 |
|
Grants CIP |
$ 13,795,819 |
|
Transportation Impact Fee Fund |
$ 19,791,141 |
|
Parks Impact Fee Fund |
$ 5,030,000 |
|
Fire Impact Fee Fund |
$ 631,202 |
|
Special Revenue Funds |
|
|
1/2 Cent County Road Tax |
$ 4,857,412 |
|
Highway User Revenue Fund |
$ 1,263,343 |
|
Asset Replacement Fund |
$ 2,018,957 |
|
Land Acquisition Fund $ 1,000,000 |
|
|
Total |
$ 74,619,090 |
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 2021-2022 (FY21-22) and the 5-Year Capital Improvement Plan.