The attached resolution and exhibit provides for the formal adoption of the Fiscal Year 2020 budget. The proposed budget has been available for review since May 3, 2019. Seven (7) public presentations have been made regarding the proposed budget and the Council committed approximately 50 hours for this review. Section 2 of these resolutions allows the City Administrator to amend this budget for Debt Service Funds, Federal and State Grants, Special Assessment and donations accepted and approved by the City Council. The City Council authorizes issuing debt and acceptance of grants and donations, other than donations which are handled per administrative order. Approving budget amendments to allow these expenditures is therefore redundant. This delegation of authority is allowed by State Statutes.  

NOTE: Staff anticipates revising the attached budget proposal based upon City Council work session discussions held on June 10th and June 17th. Upon completion of the June 17th meeting, a revised proposal and memo detailing any changes made will be attached to this staff memo.
 

The Council must hold a public hearing on June 24th and then may:

• Approve the resolutions; or
• Not approve the resolutions;
• Delay adoption of the resolutions

Delaying approval of the resolutions beyond July 1, 2019, may cause City departments to delay capital projects and purchasing some operating supplies or services.  Not approving the resolutions may violate State law, which requires cities to adopt their budgets and to set tax levies no later than 30 days after receiving the Dept. of Revenue Certified Taxable Value Statement (approximately August 1).

The resolution sets the spending limits for all City Funds.  Amendments during the year are accomplished in exactly the same manner as the original adoption, with the few exceptions noted in the resolutions.  The total budget for FY 2020 is $379,171,025.  The summary of the FY20 budget attachment (Exhibit A) is as follows:

General and Public Safety Funds  $  94,323,497
Special Revenue Funds                    85,356,263
Debt Service Funds                             4,954,052
Capital Project Funds                          5,642,529
Enterprise Funds                             158,714,870
Internal Service Funds                      30,174,214
Permanent Fund                                         5,600
Total                                              $ 379,171,025

Staff recommends that the City Council conduct a public hearing on June 24^th and approve the resolutions approving and adopting the FY20 Budget.