Agenda for Regular Meeting - Mayor's Budget Address

03/19/2015 6:30 pm

Non-Legislative Business

 

 


Legislative Business

FREEL

Agenda Item #4030 - Ord. 15-009
1st & 2nd Reading
An Ordinance Establishing a Rate of Taxation on Real Property and the Taxable Property of Public Utilities for the Fiscal Year July 1, 2015 through June 30, 2016

Synopsis: This Ordinance is being presented by the Administration for Council’s review and approval. If approved, Council would be authorizing a property tax rate for the new fiscal year. The City’s current property tax rate is $1.855 per $100 of assessed value of a property.


FREEL

Agenda Item #4031 - Ord. 15-010
1st & 2nd Reading
An Ordinance Regarding Sewer System Unit Charges and Water Rates and Charges and Storm Water Rates and Charges Set Forth in Chapter 45 of the City Code

Synopsis: This Ordinance is being presented by the Administration for Council’s review and approval. If approved, Council would be authorizing a water, sewer and stormwater rate for the new fiscal year.


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Agenda Item #4032 - Ord. 15-011
1st & 2nd Reading
An Ordinance to Adopt a Capital Program for the Six Fiscal Years 2016- 2021, Inclusive

Synopsis: This Ordinance is being presented by the Administration for Council’s review and approval. If approved, Council would be authorizing a six-year capital budget program for the City. The Capital Budget is funded through the issuance of general obligation bonds with a resulting debt service obligation on the part of the City requiring yearly cash payments over a particular period of time to repay the interest and principal on a debt. Items funded in capital budgets often include repair, renovation and construction of facilities, infrastructure, streets, etc. The FY 2016 – FY 2021 Capital Program totals $257,854,000 which is the estimate of all funds necessary to meet the future capital needs of the City based on this plan or program. Of the total amount needed to fund the program, $75,039,000 would come from the General Fund Budget, $149,865,000 would come from the Water/Sewer Budget, $5,150,000 would come from the Internal Service Fund and $27,800,000 would come from other funds.


FREEL

Agenda Item #4033 - Ord. 15-012
1st & 2nd Reading
An Ordinance to Adopt a Capital Budget for Fiscal Year 2016

Synopsis: This Ordinance is being presented by the Administration for Council’s review and approval. If approved, Council would be authorizing an FY 2016 Capital Budget plan for the City. The Ordinance totals $77,825,000 which is consistent with Capital Program for Fiscal Years 2016-2021 as reviewed and recommended by the City Planning Commission at its March 17, 2015 meeting. The Capital Budget is funded through the issuance of general obligation bonds with a resulting debt service obligation on the part of the City. The debt service requires yearly cash payments over a particular period of time in order to repay the interest and principal on a debt. Items funded in capital budgets often include repair, renovation and construction of facilities, infrastructure, streets, etc.

Agenda Item #4034 - Ord. 15-013
1st & 2nd Reading
An Ordinance Adopting the Annual Operating Budget for the Fiscal Year Beginning on July 1, 2015 and Ending on June 30, 2016

Synopsis: This Ordinance is presented by the Administration for Council’s review and approval. If approved, Council would be authorizing a General Operating Budget for Fiscal Year 2016 that totals $151,115,292. This is an increase of 0.7% over the current Fiscal Year 2015 Operating Budget. The Operating Budget is compiled annually by the Administration based on revenue projections and requested appropriations to fund various expenditures such as employee salaries and benefits, and City programs and services such as police, fire, public works, license and inspections, trash and recycling collections, etc. The new budget, if approved by Council, will become effective on July 1, 2015 and will expire on June 30, 2016.

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