Subject:
Title
Intent to Adopt the FY 2019-20 Budget
Body
EXPLANATION AND SUMMARY:
The Town Manager's proposed budget has been reviewed in detail during three Council Budget work sessions on March 16, March 18, and April 22, 2019 and during a public hearing on April 8, 2019. 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, as revised for fiscal year 2019-20 in the total amount of $41,153,380 is appropriated as follows for the fiscal year beginning July 1, 2019 and ending June 30, 2020:
$26,725,030 for General Fund expenditures
$ 4,665,270 for Debt Service Fund expenditures
$ 9,233,080 for Water and Sewer Fund expenditures
$ 530,000 for Stormwater Fund expenditures
Departmental Recommendation: Recommend that Council adopt the proposed FY 2019-20 budget as revised by the attached list of proposed adjustments.
Finance Recommendation: Recommend that Council adopt the proposed FY 2019-20 budget as revised by the attached list of proposed adjustments.
Purchasing Recommendation: N/A
Town Attorney Recommendation: The Town Council has conducted a Public Hearing on the proposed FY19-20 Town Budget and my adopt the proposed budget in its discretion.
Town Manager's Recommendation: I recommend the Town Council adopt the $41,153,380 FY 2019-20 proposed budget, as presented.
Cost and Financing: $41,153,380
Account Number: various
Decision Needed by This date: May 13, 2019
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to adopt the $41,153,380 FY 2019-20 proposed budget as amended by the list of proposed changes."
And
“I further move that of the said total, $26,725,030 be appropriated for General Fund expenditures; $4,665,270 be appropriated for Debt Service Fund expenditures;
$9,233,080 be appropriated for Water and Sewer Fund expenditures; and $530,000 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.