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ITEM 11 |
City Council Memorandum Management Services Memo No.
22-063
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Date: |
May 23, 2022 |
To: |
Mayor and Council |
Thru: |
Joshua H. Wright, City Manager Dawn Lang, Deputy City Manager - CFO |
From: |
Matthew Dunbar, Budget and Policy Assistant Director |
Subject: |
Resolution No. 5586, Adopting the Fiscal Year (FY) 2022-23 Tentative Budget and 2023-2032 Tentative Capital Improvement Program (CIP) and Giving Notice of the Dates and Times for Hearing Taxpayers, for Final Adoption of the Budget, and for Setting the Tax Levies and Tax Rates |
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Proposed Motion: |
Move City Council pass and adopt Resolution No. 5586, adopting the FY 2022-23 Tentative Budget and 2023-2032 Tentative CIP and giving notice of the dates and times for hearing taxpayers, for final adoption of the budget, and for setting the tax levies and tax rates. |
Background: |
Resolution No. 5586 will adopt the FY 2022-23 Tentative Budget and the State Auditor General Schedules (budget forms), as prescribed by Arizona Revised Statutes 42-17101 and 42-17102. The Tentative Budget sets the total expenditure amount for the fiscal year. As required, the budget forms will be published in the Arizona Republic newspaper, as will a notice that the City Council will meet on June 9, 2022, at 6:00 p.m., for the purpose of a public hearing and for final adoption of the FY 2022-23 Budget, and will further meet for the purpose of setting the tax levies on June 23, 2022, at 6:00 p.m. |
Discussion: |
In summary, the FY 2022-23 Budget totals $1,352,658,536 and includes funding for departmental operating budgets of $492,698,662; funding for debt service of $72,317,788; budget for equipment, technology, and vehicle replacements of $4,967,053; and contingencies and reserves in the amount of $185,291,629 in various funds. The capital budget includes $310,266,982 in new appropriation, capital carryforward of $286,866,422, and contingency and reserve funding of $250,000. Included in the projected operating revenues of $631,012,904 is revenue from a property tax levy of $41,078,804 based on a reduced rate of $1.1026 per $100 assessed property valuation. The Proposed (Tentative) Budget is currently online, as well as the Budget Resolution, budget forms, and 2023-2032 Tentative CIP for public review and inspection at the City’s official website (http://www.chandleraz.gov/budget) or by calling the Budget Division at 480-782-2254. As in past years, Section 4 of the Resolution includes certain delegations to the City Manager or designee to transfer funds for specific administrative purposes such as year-end encumbrances, capital project carryforward, and the allocation of personnel budgets to departments following memorandums of understanding (MOUs) and general employee merit and market adjustments as approved by City Council, as well as transferring Fire Academy/Paramedic School education and training from the non-departmental reserve to the appropriate funds and cost centers. |
Financial Implications: |
The Tentative Budget adoption sets the total FY 2022-23 budget (expenditure limitation), which once approved cannot increase. The purpose of the budget is to set the legal spending authority for the new fiscal year after public input and feedback. |
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