Subject:
Title
Adopt FY 2022-23 Operating Budget
Body
EXPLANATION AND SUMMARY:
The Town Manager's proposed budget has been reviewed in detail during three Council budget work sessions on March 14, March 16, and April 18, 2022 and during a public hearing on April 11, 2022.
For FY 2022-23 the Town is expected to experience a general recovery from the COVID-19 pandemic. The FY 2022-23 budget reflects improving general economic conditions and a return of part of the unusually large surplus recognized in FY 2020-21.
Utilization of this surplus, plus strong tax collections and rising real estate assessments allows the Town to cut the real estate tax rate by $0.0175 (one and three-quarters cents) per $100 to $0.2050 per $100 of assessed value, an 8.0 percent decrease. The budgets also include increases in salaries, a separate public safety pay plan and other cost increases necessary to meet current economic conditions.
The budget, proposed for adoption as revised for fiscal year 2022-23, in the total amount of $48,712,750, is appropriated as follows for the fiscal year beginning July 1, 2022 and ending June 30, 2023, and is detailed by fund as follows:
General Fund: $30,255,740
Debt Service: $6,423,870
Water and Sewer: $11,501,720
Stormwater: $531,420
Total: $48,712,750
Strategic Plan Initiative: Vienna is a fiscally responsible community.
Board or Commission of Interest: N/A
Departmental Recommendation: Recommend Council adopt the FY 2022-23 budget as presented.
Finance Recommendation: Recommend Council adopt the FY 2022-23 budget as presented.
Purchasing Recommendation: N/A
Town Attorney Recommendation: The Town has conducted a public hearing on the proposed FY22-23 Budget and the Town Council may adopt the Budget in its discretion.
Town Manager's Recommendation: I recommend the Town Council adopt the operating budget, general fund expenditures, debt service fund expenditures, water and sewer fund expenditures and stormwater fund expenditures...
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