TO: Mayor Collins and Town Council Members
FROM: Kevin Burke, Town Manager
Dawn Marie Buckland, Director of Administration & Govt Affairs
DATE: June 8, 2017
DEPARTMENT: Administration and Government Affairs Department
Staff Contact Dawn Marie Buckland, 480.348.3555
End
AGENDA TITLE:
Title
Adoption of Resolution Number 2017-12 Approving the FY 2018 Final Budget and FY 2018-22 Capital Improvement Program
Body
Council Goals or Statutory Requirements:
Long term balanced budget
RECOMMENDATION:
Recommendation
Adopt Resolution 2017-12, adopting the FY 2018 Final Budget and the 2018-22 Capital Improvement Program (CIP) and Infrastructure Improvement Plan (IIP) in the total amount of $52,400,300
Background
SUMMARY STATEMENT:
The Town has undertaken an extensive public process to identify priorities and assign the resources to achieve its initiatives. The FY 2018 Budget reflects those priorities through its operating, capital, debt service, and contingency appropriations for the upcoming fiscal year. The included CIP reflects a five-year program, although only the first year is adopted as part of the budget.
The preliminary budget was adopted by Town Council on May 11, 2017, setting the maximum appropriation for the upcoming fiscal year at $52,400,300. Highlights include utilizing fund balance to aggressively pay down the public safety pension unfunded liability, completing the public safety radio tower, constructing roadway improvements to support traffic flow around the new Ritz Carlton, and a total of four positions town-wide. The recommended final budget remains unchanged from the preliminary.
BUDGETARY IMPACT:
The recommended FY 2018 budget is balanced within available resources and within the Town’s allowable expenditure limitation.
ATTACHMENT(S):
Resolution 17-12
Budget Reports A-G
Presentation