Title
RESOLUTION NO. R17-42
A RESOLUTION OF THE COUNCIL OF THE CITY OF GLENDALE, MARICOPA COUNTY, ARIZONA, ADOPTING THE FINAL BUDGET OF THE AMOUNTS REQUIRED FOR THE PUBLIC EXPENSE FOR THE CITY OF GLENDALE FOR THE FISCAL YEAR 2017-2018, SETTING FORTH THE REVENUE AND THE AMOUNT TO BE RAISED BY DIRECT PROPERTY TAXATION AND ADOPTING THE CITY COUNCIL'S FINANCIAL POLICIES.
Staff Contact: Vicki Rios, Director, Budget and Finance
end
Purpose and Policy Recommendation
This is a request for City Council to waive reading beyond the title, review the proposed Fiscal Year 2017-18 (FY17-18) final budget, conduct a public hearing on the final budget, and convene a special meeting to adopt a resolution formally approving the final operating, capital, debt service, and contingency appropriation budget.
Background
Arizona state law requires the governing board of cities, towns, and counties to conduct a public hearing and then convene a special meeting to adopt a resolution approving the final annual budget. The regular voting meeting does not need to be adjourned to convene and conduct the special meeting required for the budget adoption.
Council approval of the tentative budget at the May 23, 2017 meeting set the maximum level of expenditure for FY17-18 at $672 million. Adjustments and reallocation of appropriation authority may be made after adoption of the tentative budget but the total amount of appropriation cannot be increased.
The FY17-18 budget process included a five-year financial forecast of the operating funds, a review of the proposed ten-year Capital Improvement Plan, and a review of the detailed budget request for each of the departments which included both operating funds and the capital outlay. To inform and deliberate on current budget issues, seven Budget Workshops were held and focused on specific budget and financial strategies for FY17-18 and future fiscal years.
Analysis
The FY17-18 Final Budget request totals $672 million. This is a 3.0% decre...
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