TO: Mayor Collins and Town Council Members
FROM: Kevin Burke, Town Manager
Douglas W. Allen, CPA
DATE: 06/14/18
DEPARTMENT: Finance
Staff Contact Douglas Allen
End
AGENDA TITLE:
Title
Adoption of Resolution 2018-19 Approving the FY2018/19 Final Budget and FY2019-2023 Capital Improvement Plan
Body
Town Value(s):
☐ Primarily one-acre, residential community
☒ Limited government
☐ Creating a sense of community
☐ Partnerships with existing schools and resorts to enhance recreational opportunities
☐ Improving aesthetics/creating a brand
☐ Preserving natural open space
.
Council Goals or Statutory Requirements:
RECOMMENDATION:
Recommendation
Adopt Resolution number 2018-19 approving the FY2018/19 Final Budget and FY2019-23 Capital Improvement Plan that includes projects funded in the FY2018/19 Budget.
Background
SUMMARY STATEMENT:
The Tentative Budget was published in the Scottsdale Republic on June 2 & 9. Next steps for Council is to hold a public hearing on the Tentative Budget and adopt a Final Budget. Adjustments can be made after the public hearing and before adopting the Final Budget.
The Tentative Budget is the result of all departments, management and Town Council’s collaborative efforts to set and communicate the Town’s financial plan, policies and operational guide for the upcoming fiscal year 2018/19. The tentative budget includes funding for all department’s operating budgets, payment of debt obligations (including PSPRS), contingencies, and the capital improvement program while forecasts continue to show maintaining a financially sustainable structure.
BUDGETARY IMPACT:
Highlights (77%) of the $55,394,500 Tentative Budget include:
Police Department $8,966,067 17%
New CIP 6,748,987 12%
Non-Town funded CIP 6,263,176 11% (not town $)
Prior years’ CIP 4,177,400 8% (not new $)
PSPRS payments 6,000,000 11% (reduces debt)
Streets and pavement 3,125,754 6%
Fire services fund 3,156,000 6%
Wastewater services fund 2,191,958 4%
Scheduled bond repayments 1,257,563 2%
ATTACHMENT(S):
PV Resolution adopting the Budget and CIP
PV State Budget Forms 2019 [Official forms for AZ towns]
PV Capital Improvement Plan FY2019-2023