Subject:
Title
Intent to Adopt the FY 2018-19 Budget
Body
EXPLANATION AND SUMMARY:
The Town Manager's proposed budget has been reviewed in detail during three Council Budget work sessions on March 17, March 19, and April 16, 2018 and during a public hearing on April 9, 2018. Accordingly, the proposed budget, as revised by the attached list of changes as a result of the work sessions, is presented for adoption.
The proposed budget for fiscal year 2018-19 in the total amount of $38,651,570 is appropriated as follows for the fiscal year beginning July 1, 2018 and ending June 30, 2019:
$25,463,090 for General Fund expenditures
$ 4,223,290 for Debt Service Fund expenditures
$ 8,601,190 for Water and Sewer Fund expenditures
$ 364,000 for Stormwater Fund expenditures
Departmental Recommendation: Recommend that Council adopt the proposed FY 2018-19 budget as revised by the attached list of proposed adjustments.
Finance Recommendation: Recommend that Council adopt the proposed FY 2018-19 budget as revised by the attached list of proposed adjustments.
Purchasing Recommendation: N/A
Town Attorney Recommendation: The Town has advertised the proposed FY 2018-19 budget, and Town Council conducted a public hearing on April 9, 2018. Town Council may approve the proposed budget in its discretion.
Town Manager's Recommendation: I recommend the Town Council adopt the Fiscal Year 2018-2019 Proposed Budget as amended and as presented.
Cost and Financing: $38,651,570
Account Number: various
Decision Needed by This date: May 7, 2018
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to adopt the $38,651,570 FY 2018-19 proposed budget as amended by the list of proposed changes. "
And
“I further move that of the said total, $25,463,090 be appropriated for General Fund expenditures; $4,223,290 be appropriated for Debt Service Fund expenditures;
$8,601,190 be appropriated for Water and Sewer Fund expenditures; and $364,000 be appropriated for Stormwater Fund expenditures.”
And
“I further move that the Town Clerk be authorized to advertise a Notice of Adoption.”
Or
Other action deemed necessary by Council.