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File #: MISC 22-15    Version: 1 Name: FY22-23 Tentative Budget
Type: Miscellaneous Item Status: Passed
File created: 4/28/2022 In control: City Council Regular Meeting
On agenda: 5/17/2022 Final action: 5/17/2022
Title: The Mayor and City Council shall discuss and possibly take action on adopting a tentative budget for fiscal year 2022-2023 (FY22-23) and the 5-Year Capital Improvement Plan. Discussion and Action.
Sponsors: Matt Kozlowski
Attachments: 1. Budget Summary Forms - Operating & CIP Tentative
TITLE

The Mayor and City Council shall discuss and possibly take action on adopting a tentative budget for fiscal year 2022-2023 (FY22-23) 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 FY22-23 is presented for Council consideration. The tentative operating and capital budgets, based on Council strategic priorities and staff input, total $251,049,413. The tentative operating budget totals $122,293,112 and the tentative Capital Improvement Projects (CIP) budget totals $128,756,301.

Final budget adoption is scheduled for June 21, 2022, at a Council Meeting.

Operating Budget

The proposed operating budget was developed through input from the April 27, 2022 Council Budget and Finance Committee (BFC) meeting. Based on this meeting, the proposed FY22-23 tentative operating budget totals $122,293,112. The totals, by fund, are as follows:

Operating Budget
General Fund $ 60,912,099
Special Revenue
Highway User Revenue Fund $ 3,802,244
1/2 Cent County Road Tax $ 1,810,000
Grants Operating Fund $ 52,242,294
Local Road Maintenance $ 300,000
Debt Service Fund $ 3,226,475
Total Operating Expenditures $ 122,293,112

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 FY22-23 Capital Improvement Projects (CIP) budget. Based on the Plan, the FY22-23 tentative CIP budget totals $128,756,301 and is as follows:

Capital Project Funds
General Government C...

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