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July 10 2012 Budget Workshop No. 3 12-13 Fiscal Year General Fund & Ancillary Funds. Innovation will serve to keep the plan in the forefront of all that we do. Our actions should always be advancing the Plan. Operation Innovation. Workshop Schedule. Schedule of FY 12-13 Council Work Sessions:
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July 10 2012 Budget Workshop No. 312-13 Fiscal Year General Fund & Ancillary Funds Innovation will serve to keep the plan in the forefront of all that we do. Our actions should always be advancing the Plan. Operation Innovation
Workshop Schedule Schedule of FY 12-13 Council Work Sessions: • June 7- Budget Format Workshop* • June 26- Capital Projects & Replacement/Renewal Fund Workshop* • July 10- General Fund (and smaller ancillary funds) Workshop** • July 24- Enterprise Fund Workshop (Electric, Telecommunications, Water/Sewer, Sanitation, Golf & Airport)* • August 14-Preliminary Budget Presentation Workshop* • TBA- 1st Reading Tentative Budget (Public Hearing) • TBA- 2nd Reading Final Budget (Public Hearing) *11:00 Council Lunch *11:30-1:30 Work Session (Council Chambers) ** 3:00 pm Work Session (Council Chambers)
Items of Discussion • Reserve Policy Adjustment • Fee increases (Development Services, Engineering, Recreation & Parks, Telecommunications) • Proactive approach to curtailment of current year expenses • Continued culture and innovation enhancements • General Fund Balancing Strategies
FY 12-13 General Fund Information • The General Fund is the main operating fund of the City. As such it bears the brunt of costs associated with a majority of the City’s core functions. • The General Fund will be balanced using a millage of 6.1502, the Revenue Neutral Option, which allows the City to collect the same tax revenue as in the current fiscal year. • All cash balances available to the City, including a 20% reserve, have been incorporated into the budget in an effort to enhance the transparency of the budgeting process. • Salaries have been kept at current levels, as such there are no raises programmed into the budget. • Enterprise Fund transfers were held to FY12 levels. • The General Fund will be balanced using the proposed fee increases from Development Services, Engineering, Recreation & Parks. • The VSIP savings of ~$500,000 has been factored into the General Fund. • The City assumed the 2% increase in Health Insurance Premiums. • The General Fund will be balanced using a transfer of $1M from the 1/8 mil Police & Fire Fund.
Millage Information FY2012/2013 MILLAGE RATES When setting the tentative millage rates, Council should consider: • The maximum millage rate that can be levied by a majority vote of City Council is the rolled-back rate adjusted per the new legislation. • A millage rate of not more than 110% of the rolled-back rate adjusted for growth may be adopted if approved by two-thirds vote of the City Council. • A rate in excess of the 110% described in #2 may be adopted if approved by a unanimous vote of City Council or if approved by a referendum.
Additional Millage Information For comparison purposes, the following schedule lists the current rate, rolled-back, the maximum millage rate that can be imposed with a majority vote of City Council and the amount of revenue that would be generated for each, based on a 95% collection rate. *Rolled Back Rate is not a tax increase
