Title
Presentation of the City Manager's 2017-2018 (FY18) Budget
Body
Issue/Request:
Presentation of the City Manager's 2017-2018 (FY18) Budget
Key Issues:
The City Manager's Budget proposes a total appropriation of $217,538,780 for all funds for the fiscal year beginning July 1, 2018 (FY18). The total includes the expenditure budgets within the following funds;
• GENERAL FUND $67,190,459
• SPECIAL REVENUE FUNDS $13,366,470
• DEBT SERVICE FUNDS $11,244,005
• CAPITAL PROJECT FUNDS $56,091,029
• ENTERPRISE FUNDS $55,986,791
• INTERNAL SERVICE FUNDS $13,660,025
The City Manager will present the key highlights and discuss the revenues and expenditures for these funds.
Proposed City Council Motion:
I move to direct staff to prepare an ordinance adopting the FY18 Budget.
Background:
Following this presentation, this item will be placed on the May 1st, May 8th, and May 15th Finance and Budget Committee meeting agendas to give the Committee time to review and discuss.
Approval of the annual budget requires a public hearing before the City Council which has been scheduled for May 18th. A notice to advertise the public hearing will be sent to local newspapers on May 2nd to allow for a 15 day public notice. Following the public hearing an ordinance adopting the budget will be scheduled for the June 1st City Council meeting.
Presenter
Presenter: Stephen Arbo, City Manager
Recommendation
Recommendation: N/A
Committee Recommendation
Committee Recommendation: N/A