TO: Mayor Collins and Town Council Members
FROM: Kevin Burke, Town Manager
Dawn Marie Buckland, Director of Administration & Government Affairs
Christine Covell-Granberg, Senior Financial/Management Analyst
DATE: May 12, 2016
DEPARTMENT: Town Manager
Staff Contact Kevin Burke, 480-348-3690
End
AGENDA TITLE:
Title
Approval of FY17 Tentative Budget
Body
Council Goals or Other Policies / Statutory Requirements:
Finances - Develop a long term sustainable budget.
RECOMMENDATION:
Recommendation
Adopt Resolution Number 2016-08, approving the Fiscal Year 2016-2017 (FY17) Tentative Budget and schedule a public hearing on June 9, 2016 for adoption of the final budget.
Background
SUMMARY STATEMENT:
Adoption of the FY17 Tentative Budget establishes the Town’s maximum spending limit. The Tentative Budget was developed over the last several months and reflects the decisions of Town Council during that period. The State budget forms (Schedules A, and C-G) have been prepared in accordance with State requirements. Total expenditures budgeted for FY17 equal $42.6 million. Utilizing eligible exclusions, the Town meets the annual expenditure limitation of $25.4 million. Upon approval of the Resolution, the State reports will be published in the Paradise Valley Independent for two consecutive weeks (as required under State law) prior to the adoption of the Final Budget on June 9, 2016.
BUDGETARY IMPACT:
This document appropriates the expenditures for the coming fiscal year.
ATTACHMENT(S):
Budget Transmittal Letter
Resolution 2016-08
Schedules A, and C-G
Council Budget Work Book
PowerPoint Presentation