|
|
STRATEGIC OUTCOMES |
ACTION |
|
Department: |
☒ Safe & Prosperous |
☐ Motion |
|
Finance |
☒ Active & Appealing |
☒ Resolution |
|
|
☒ Respected & Responsible |
☐ Ordinance - Introduction |
|
Division: |
☒ Connected & Engaged |
☐ Ordinance - Adoption |
|
Administration |
☒ Unique & Creative |
☐ Public Hearing |
TITLE: t
Final Budget Adoption for Fiscal Year 2025
end
SUMMARY RECOMMENDATION: Summary Recommendation
Adopt the City of Yuma’s final budget for Fiscal Year 2025 in the amount of $521,167,546 which is comprised of a Capital Improvement Program Budget of $222,418,219; 12 Maintenance Improvement Districts combined for $672,094 and an Operating Expenditure Budget of $298,077,233; including Governmental and Enterprise operations. The adoption of the proposed budget resolution includes a 3% increase in solid waste fees and establishes the budgets for the Main Street Mall and Off-Street Parking Maintenance District No. 1. (Administration/Finance) (Jay Simonton/Doug Allen)
end
STRATEGIC OUTCOME:
Both the Public Hearings and the final adoption by resolution of the Fiscal Year 2025 Annual Budget provide the financial framework for the City Council’s vision and supports all five of City Council’s strategic outcomes across all departments and funds at the City.
REPORT:
Clerk Note: A motion was made at the June 5, 2024, RCM to correct a scrivener’s error on Schedule G of the Annual Budget by combining the Desert Hills Golf Course from the Enterprise Fund, to the Two Percent Tax of the Special Revenue Funds. This will not change the Total All Funds.
Also noted: There was a 2nd motion to change the tax rate which affected Schedule A and B. As a result of these changes, Schedules A, B & G have been changed. Corrected Schedules A-G have been filed with Resolution R2024-020.
The City Administrator and City staff, after receiving City Council input through several vision and goal setting sessions throughout Fiscal Years 2022, 2023 and 2024, prepared the Fiscal Year 2025 Proposed Annual Budget for City Council’s consideration. City Council approved the tentative budget by motion on May 15, 2024, which set the ceiling on expenditures for FY 2025 and there have been no changes. Following the close of the public hearing, the City Council may open a special meeting to adopt the Fiscal Year 2025 Annual Budget of $521,167,546 by resolution with accompanying schedules which includes a line item 3% solid waste fee increase.
The FY 2025 budget is comprised of the following amounts:
Adoption of the tax rate and tax levy ordinance is scheduled for the June 26, 2024 regular City Council meeting at 5:30 p.m. in the City Council chambers located at City Hall, One City Plaza, Yuma, Arizona. In order to adopt the ordinance, it must be separately introduced following the adoption of the Fiscal Year 2025 Annual Budget by resolution. A separate tax rate and tax levy ordinance introduction is included in this June 5, 2024 Agenda.
Notice of the Public hearings, including the improvement districts and the Main Street Mall and Off-Street Parking Maintenance District No. 1, was published in the Yuma Sun on May 21, 2024, and May 28, 2024, as part of the statutorily required Budget Financial Schedules. The Fiscal Year 2025 Proposed Annual Budget has been available online, in the City Clerk’s office, and at the public library located at 2951 S. 21st Street since April 30, 2024. The proposed budget has been reviewed by the City Administrator, City staff, and City Council. The end result is a Fiscal Year 2025 financial planning document incorporating the vision and strategic outcomes established by the City Council.
FISCAL REQUIREMENTS:
|
CITY FUNDS: |
$ 0.00 |
BUDGETED: |
$ 0.00 |
|
STATE FUNDS: |
$ 0.00 |
AVAILABLE TO TRANSFER: |
$ 0.00 |
|
FEDERAL FUNDS: |
$ 0.00 |
IN CONTINGENCY: |
$ 0.00 |
|
OTHER SOURCES: |
$ 0.00 |
FUNDING: ACCOUNT/FUND #/CIP |
TOTAL $ 0.00
|
|
|
|
To total; right click number & choose “Update Field” |
|
FISCAL IMPACT STATEMENT:
One of the most important duties of the Mayor and City Council is to adopt an annual budget for the City. The budget process provides the Mayor and City Council with the opportunity to match the needs of the City and available resources with the interest of gaining the maximum return on each dollar.
The tentative budget includes funding for all department operating budgets effective July 1, payment of debt obligations, capital improvement projects, enterprise services and contingencies.
ADDITIONAL INFORMATION:
SUPPORTING DOCUMENTS NOT ATTACHED TO THE CITY COUNCIL ACTION FORM THAT ARE ON FILE IN THE OFFICE OF THE CITY CLERK:
NONE
IF CITY COUNCIL ACTION INCLUDES A CONTRACT, LEASE OR AGREEMENT, WHO WILL BE RESPONSIBLE FOR ROUTING THE DOCUMENT FOR SIGNATURE AFTER CITY COUNCIL APPROVAL?
☐ Department
☐ City Clerk’s Office
☐ Document to be recorded
☐ Document to be codified
|
Acting City Administrator: |
Date: |
|
John D. Simonton |
05/28/2024 |
|
Reviewed by City Attorney: |
Date: |
|
Richard W. Files |
05/28/2024 |