TO: Mayor Collins and Town Council Members
FROM: Kevin Burke, Town Manager
Doug Allen, Financial Service Manager/CFO
DATE: April 12, 2018
DEPARTMENT: Town Manager
Staff Contact Kevin Burke, Town Manager 480.348.3690
Doug Allen, Financial Service Manager/CFO 480.348.3532
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AGENDA TITLE:
Title
Review the Town Manager’s Recommended Budget for Fiscal Year 2018/2019 (FY19)
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RECOMMENDATION:
Review the Town Manager’s Recommended Budget and identify elements of further discussion.
SUMMARY STATEMENT:
Attached please find the Town Manager’s Recommended Budget for FY19. Section 3-2-6.E. of the Town Code states that the Town Manager shall:
“cause to be prepared…a preliminary consolidated municipal budget and submit the same to the Town Council annually…with his recommendations.”
The Town Manager’s Recommended Budget represents approximately a 9% decrease in total budgeted expenditures over the FY18 Budget (a decrease from $52 M to $47 M). FY19 represents a year of change as revenues are anticipated to continue growing by approximately 12% due to a thriving economy, new and remodeled resorts, and the construction boom that is occurring in the Town. Concurrently, workload has grown necessitating recommendations for further personnel and tools to deliver the services the Town currently provides. A full narrative and numerical explanation of these changes can be found in the attached document. FY19 represents a new format in presenting the budget. The budget document is designed to introduce the reader to a broad overview of the Town’s finances and then gradually become more detailed as the reader progresses through the book. Reading the entire document is not intended for everyone. As the reader will see, there is often the same information presented slightly differently or with more detail depending upon the section being examined.
The April 12, 2018 study session will consist of an overview of the Budget and then departmental presentations.
BUDGETARY IMPACT:
The Recommended Budget outlines $47 million in expenditures. The majority of expenditures can be classified into three categories: operating budgets for departments, the capital improvement program, and continued reduction of the unfunded liability for the public safety pension.
ATTACHMENT(S):
Town Manager’s Recommended Budget for FY19
Budget Related Power Points