TITLE
HOLD a public hearing on the proposed Fiscal Year 2022 Annual Budget.
SUMMARY
DATE: September 14, 2021
TO: Kent Cagle, City Manager
FROM: Jonathan Locke, Executive Director of Finance
SUBJECT: Hold a third public hearing on the proposed FY 2022 Annual Budget
BACKGROUND AND FINDINGS:
At the September 7, 2021, City Council meeting, a motion of direction was approved for the following changes to the proposed FY 2022 Budget:
General Fund -
|
Description |
Revenue |
Expenditure |
|
FY 2022 Proposed Budget - |
$106,550,078 |
$106,550,078 |
|
Remove: Reduce Property Tax Revenue |
(374,279) |
- |
|
Remove: Reserve Appropriation |
- |
(374,279) |
|
Add: ARPA Funded Programs - |
|
|
|
Non-profit Organization Assistance |
150,000 |
150,000 |
|
TOTAL |
$106,325,799 |
$106,325,799 |
The City Charter, Article V, Section 56, requires a public hearing to be held if City Council makes changes to the proposed budget that involve inserting additional items or increasing appropriations. The public hearing provides an opportunity for the public to provide input on the changes to the proposed budget. Citizens are encouraged to be present and participate in the public hearing.
THE ALTERNATIVES CONSIDERED:
Which alternative is recommended? Why?
N/A
CONFORMITY TO CITY POLICY:
This conforms to requirements set forth in City Charter, Article V, Section 56 and the Financial Governance Policy III(F).
FINANCIAL IMPACT:
What is the amount of the expenditure in the current fiscal year? For future years?
The changes to the proposed budget will decrease FY 2022 expenditures by the following:
- General Fund ($224,279)
Is this a one-time or recurring expenditure?
N/A
Is this expenditure budgeted?
Upon approval of the FY 2022 Budget.
If not, where will the money come from?
N/A
Is there a sufficient amount in the budgeted line-item for this expenditure?
Upon approval of the FY 2022 Budget.
RECOMMENDATION:
City Council hold a public hearing on the proposed Fiscal Year 2022 Annual Budget.
DEPARTMENTAL CLEARANCES:
Finance
City Attorney
ATTACHED SUPPORTING DOCUMENTS:
N/A