TO: Mayor Bien-Willner and Town Council Members
FROM: Jill B. Keimach, Town Manager
Douglas Allen, CPA
DATE: June 13, 2019
DEPARTMENT: Finance
Staff Contact Douglas Allen, CFO
End
AGENDA TITLE:
Title
Adoption of Resolution Number 2019-12; Adopting the FY2019/20 Final Budget, 2020-2024 Capital Improvement Plan and the 2020 Strategic Revenue Plan.
Body
RECOMMENDATION:
Recommendation
Adopt Resolution Number 2019-12 adopting the FY2019/20 Final Budget and FY2020-24 Capital Improvement Plan and the 2020 Strategic Revenue Plan.
Background
SUMMARY STATEMENT:
One of the most important duties of the Town Council is to adopt an annual budget for the Town. The budget process provides the Council with the opportunity to match the needs of the Town and available resources with the intent of gaining the maximum return on each dollar.
The Tentative Budget was published in the Scottsdale Republic on May 31 and June 6, 2019. Next steps are for Council to hold a public hearing and adopt a Final Budget.
Adjustments can be made after the public hearing and before adopting the Final Budget. After public comments, the Council can modify the tentative budget categorically, but cannot increase the maximum spending amounts. Council then adopts the final budget referred to as the "Adopted" 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 2019/20.
This Budget contains funding for all department's operating budgets, payment of debt obligations, contingencies and the capital improvement program while financial forecasts continue to show the Town maintaining a financially sustainable structure.
Included in the Tentative Budget is budget authority available should Council direct staff to initiate financial strategies to fully fund the PSPRS unfunded liability in 2020. These strategi...
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