Agenda for Regular Meeting

03/31/2016 6:00 pm

Non-Legislative Business

Mayor’s Budget Address


Legislative Business

Charles M. "Bud" Freel: 8th Councilmanic District

Agenda Item #4183 - Ordinance 16-014
Referred to Committee
Establishing a Rate of Taxation on Real Property and the Taxable Property of Public Utilities for the Fiscal Year July 1, 2016 through June 30, 2017

This Ordinance is being presented by the Administration for Council’s review and approval. If approved, Council would be authorizing no increase in the City’s current property tax rate for FY 2016 of $1.855 per $100 of assessed value of a property.

Agenda Item #4184 - Ordinance 16-015
Referred to Committee
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 for Fiscal Year 2017

This Ordinance is being presented by the Administration for Council’s review and approval. If approved, Council would be authorizing no increase in the City’s water, sewer and stormwater rates from the current FY 2016 rates.

Agenda Item #4185 - Ordinance 16-016
Referred to Committee
To Adopt a Capital Program for the Six Fiscal Years 2017-2022, Inclusive

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 2017 – FY 2022 Capital Program totals $282,616,000 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, $106,502,000 would come from the General Fund Budget, $145,801,000 would come from the Water/Sewer Budget, $5,063,000 would come from the Internal Service Fund and $25,250,000 would come from other funds.

Agenda Item #4186 - Ordinance 16-017
Referred to Committee
To Adopt a Capital Budget for Fiscal Year 2017

This Ordinance is being presented by the Administration for Council’s review and approval. If approved, Council would be authorizing an FY 2017 Capital Budget plan for the City. The Ordinance totals $0 which is consistent with Capital Program for Fiscal Years 2017-2022 as reviewed and recommended by the City Planning Commission at its March 15, 2016 meeting. Because the City bonds biennially, instead of annually, during “off” years the capital budget requests will be zero. 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 #4187 - Ordinance 16-018
Referred to Committee
To Adopt the Annual Operating Budget for the Fiscal Year Beginning on July 1, 2016 and Ending on June 30, 2017

This Ordinance is being presented by the Administration for Council’s review and approval. If approved, Council would be authorizing a General Operating Budget for Fiscal Year 2017 that totals $154,651,440. This is an increase of 1.9% over the current Fiscal Year 2016 Operating Budget. The Operating Budget proposal 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, 2016 and will expire on June 30, 2017.

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