HomeMy WebLinkAboutItem 18 Fiscal Year 2014-15 City Budget Adoption AGENDA ITEM SUMMARY Meeting Date: 6/16/2014
Meeting Type: Regular Meeting
Staff Contact/Dept.: Bob Duey/Finance Staff Phone No: 541.726.3740
Estimated Time: 10 Minutes
S P R I N G F I E L D C I T Y C O U N C I L Council Goals: Provide Financially Responsible and
Innovative Government Services
ITEM TITLE:
FISCAL YEAR 2014/15 CITY BUDGET ADOPTION
ACTION REQUESTED:
1. Conduct a public hearing on the Fiscal Year 2014/15 City budget. 2. Adopt/Not Adopt the following: A RESOLUTION ADOPTING THE
FISCAL YEAR 2014/15 SPRINGFIELD CITY BUDGET, MAKING APPROPRIATIONS AND LEVYING A PROPERTY TAX.
ISSUE STATEMENT:
The City Council is requested to hold a public hearing on Fiscal Year 2014/15 (FY15) approved City Budget, and approve a resolution to adopt the Fiscal Year
2014/15 City budget, making appropriations and levy a property tax.
ATTACHMENTS: 1. Council Briefing Memorandum
2. Resolution
DISCUSSION/
FINANCIAL IMPACT:
See attached Council Briefing Memorandum
ATTACHMENT 1 – Page 1 of 2
M E M O R A N D U M City of Springfield
Date: 6/2/2014
To: Gino Grimaldi COUNCIL
From: Bob Duey, Finance Director BRIEFING
Subject: Fiscal year 2014/15 City Budget Adoption MEMORANDUM
ISSUE:
The City Council is requested to hold a public hearing on the Fiscal Year 2014/15 (FY15) Approved City Budget, and approve a resolution to adopt the Fiscal Year 2014/15 City Budget, make appropriations, and
levy a property tax.
COUNCIL GOALS/
MANDATE:
Provide Financially Responsible and Innovative Government Services
City of Springfield budget process is governed by the Oregon’s Revised Statues 294. The budget process develops an annual financial plan for the City of Springfield’s spending agencies and citizens that
accurately depicts and measures anticipated revenues and expenditures in order to support the City’s objectives maintain financial stability and comply with statutory requirements.
BACKGROUND:
The Budget Committee finalized its review of the FY15 Proposed Budget on May 13, 2014 and made certain changes to the budget proposed. The resulting action created the FY15 Approved Budget for
Council consideration. Oregon Budget Law requires that the City Council hold a public hearing prior to any action on the adoption of the Approved Budget. Oregon Budget Law also allows the City Council to,
within guidelines; adopt changes made to the budget approved by the City’s Budget Committee. These guidelines include being able to increase total expenditures within a fund by not more than $5,000 or 10%
of the estimated expenditures to the fund (whichever is greater). There is no limit on the amount by which a fund can be reduced.
This memo summarizes the revisions to the Proposed Budget made by the Budget Committee in
formulating the Committee’s Approved Budget.
The FY15 Approved Budget in the amount of $316,155,460 is as follows:
City of Springfield Fiscal Year 2014/15 Appropriations (All Funds)
Personal Services $ 49,052,341
Materials and Services 42,737,055
Capital Outlay 3,589,365
Capital Projects 28,347,590
Contingency 600,000
Unappropriated Ending Fund Balance 386,567
Reserves 142,723,755
Interfund Transfers 22,154,126
Debt Service 16,859,045
Special Payments/Statutory Payments 9,705,616
TOTAL APPROPRIATIONS – ALL FUNDS $ 316,155,460
MEMORANDUM 6/12/2014
ATTACHMENT 1 – Page 2 of 2
RECOMMENDED ACTION:
A. Adjustments and Changes to the FY15 Proposed Budget
The City’s Proposed Budget totaled $316,155,460 and 407.44 FTE. At the May 13, 2014 Budget Committee meeting, the Committee approved the FY15 Proposed Budget with the specific changes
identified below. These changes increased operating expenditures by $37,564 by reducing reserves and added .5 to FTE.
Part time Library Technician
The Budget Committee approved funding of a .5 FTE Library Technician. The purpose of the added FTE is to increase the open hours of the Library by 4 additional hours per week. The source of the funds is a
decrease in General Fund reserves.
Requested Action
Fund 100 Increase expenditure Library 33,300
Decrease General Fund Reserves (33,300)
One-Time increase to Human Services Commission
The Budget Committee approved a one year increase in funding to the Human Services Commission; this
change will appear in the City Manager’s Office budget. The source of the funds is a decrease in General Fund reserves.
Requested Action
Fund 100 Increase expenditure Library 4,264
Decrease General Fund Reserves (4,264)
B. Total City FY15 Approved Budget
The result of the actions noted above is an Approved Budget totaling 407.94 FTE and $316,155,460 in
resources and requirements.
C. Additional Information
As discussed, Oregon Budget Law does also allow the City Council to within guidelines adopt changes
made to the budget approved by the City’s Budget Committee. These guidelines include being able to increase total expenditures within a fund by not more than $5,000 or 10% of the estimated expenditures to
the fund (whichever is greater). There is no limit on the amount by which a fund can be reduced.
ACTIONS REQUESTED
The Council is requested to:
1. Hold a public hearing on the Fiscal Year 2014/15 City budget. 2. Adopt a budget by Resolution. The Council may adopt, by resolution, the budget presented this
evening as approved by the Budget Committee or adopt a budget resolution that reflects the budget approved by the Budget Committee with other changes the Council may identify.
If changes are made by the Council following the public hearing, a revised resolution will be prepared and
submitted to the Mayor for signature.