Subject:
Title
Adopt FY 2021-22 Budget
Body
EXPLANATION AND SUMMARY:
The Town Manager's proposed budget has been reviewed in detail during four Council budget work sessions on March 13, March 15, and April 19, 2021 and during a public hearing on April 12, 2021.
Due to the lingering economic impact of the COVID-19 pandemic, it is the stated intent of Council to adopt the budget as proposed and adjusted and reserve an amount equal to 2% of the general fund budget (approximately $531,300) representing a freeze on salary increases, a portion of travel and training expenditures and a portion of parks and recreation expenditures. This reserve can be lifted by Council action at its discretion.
At the time of this writing, no official guidance has been received about the amount or timing of expected American Recovery Plans (ARPA) funds. Approximately $46,900 has been budgeted for the costs of virtual meeting transmission software in both revenues and expenses for FY 2021-22, funded by ARPA. The remaining ARPA funds are not expected to be received until after the end of FY 2021 and will be brought to the public in the form of a public hearing and Council appropriation and budget amendment when the amount and distribution date is known.
The budget, proposed for adoption as revised for fiscal year 2021-22, in the total amount of $43,221,000, is appropriated as follows for the fiscal year beginning July 1, 2021 and ending June 30, 2022:
General Fund: $26,563,700
Debt Service: $,5,373,980
Water and Sewer: $10,816,600
Stormwater: $ 466,720
Total: $43,221,000
Strategic Plan Initiative: Vienna is a fiscally responsible community
Departmental Recommendation: Recommend Council adopt the FY 2021-22 budget as presented.
Finance Recommendation: Recommend Council adopt the FY 2021-22 budget as presented.
Purchasing Recommendation: N/A
Town Attorney Recommendation: The Town Council has conducted public hearings on the proposed FY 21/22 Budget and the Proposed Real Estate Property Tax Rate; accordingly, the Town Council may approve the proposed Budget in its discretion.
Town Manager's Recommendation: I recommend the Town Council adopt the $43,221,000 Fiscal Year 2021-2022 operating budget, as presented.
Cost and Financing: $43,221,000
Account Number: various
Decision Needed by This date: May 17, 2021
PROPOSED/SUGGESTED MOTION
Recommended Action
“I move to adopt the $43,221,000 FY 2021-22 operating budget."
And
"I further move that of the said total, $26,563,700 be appropriated for General Fund expenditures; $5,373,980 be appropriated for Debt Service Fund expenditures;
$10,816,600 be appropriated for Water and Sewer Fund expenditures; and $466,720 be appropriated for Stormwater Fund expenditures."
And
“I further move to hold in reserve $530,000 of funds derived from general fund revenue as a general fund reserve until such time as the Town Council authorizes release of these funds by Council action”,
And
“I further move that the Town Clerk be authorized to advertise a Notice of Adoption.”
Or
Other action deemed necessary by Council.