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HomeMy WebLinkAboutCouncil Presentation 05/18/2021- FY 2021-2022 Tentative BudgetFiscal Year 2021-2022 Tentative Budget 5/18/2021 Yiannis Kalaitzidis, Finance Director FY2022 Tentative Budget The Tentative Budget is presented on the required Auditor General Forms Schedule A—Summary Schedule of Estimated Revenues and Expenditures/Expenses Schedule B—Tax Levy and Tax Rate Information Schedule C—Revenues Other Than Property Taxes Schedule D—Other Financing Sources/<Uses> and Interfund Transfers Schedule E—Expenditures/Expenses by Fund Schedule F—Expenditures/Expenses by Department (as applicable) Schedule G—Full-Time Employees and Personnel Compensation 2 Manager’s Tentative Budget Fiscal year 2021-2022 Overview 3 Sales Tax, $39.9M, 31%Intergovernmental, $40.9M, 32% Licenses, Permits & Fees, $16.2M, 13% Charges for Services, $11.0M, 9% Other, $12.1M, 9% Bonds/loan, $7.7M, 6% Revenues $127.8 Million Operating, $79.7M, 50% Capital Outlay, $66.3M 42% Debt Service, $12.9M, 8% Expenditures by Category $158.9 Million FY 2022 Recommended Budget Summary 4 Primary Entity 2021 Adopted 2022 Recommended $ Change % Change General Fund $ 54,116,449 $ 54,916,798 $ 800,349 1.50% Special Revenue Funds 15,181,378 10,544,985 (4,636,393)-30.50% Capital Projects Funds 28,893,943 32,832,745 3,938,802 13.60% Debt Service Funds 5,917,415 5,908,375 (9,040)-0.20% Enterprise Funds 29,786,160 26,089,031 (3,697,129)-12.40% Internal Service Funds 4,711,332 5,067,470 356,138 7.60% Primary entity 138,606,677 135,359,404 (3,247,273)-2.30% Component Units Special Districts 10,652,588 13,036,512 2,383,924 22.40% Total $ 149,259,265 $ 148,395,916 $ (863,349)-0.60% FY 2022 Tentative Budget Summary 5 Primary Entity 2021 Adopted 2022 Tentative $ Change % Change General Fund $ 54,116,449 $ 55,152,321 $ 1,035,872 1.90% Special Revenue Funds 15,181,378 10,568,485 (4,612,893)-30.40% Capital Projects Funds 28,893,943 36,518,156 7,624,213 26.40% Debt Service Funds 5,917,415 5,908,375 (9,040)-0.20% Enterprise Funds 29,786,160 32,664,211 2,878,051 9.70% Internal Service Funds 4,711,332 5,067,470 356,138 7.60% Primary entity 138,606,677 145,879,018 7,272,341 5.20% Component Units Special Districts 10,652,588 13,036,512 2,383,924 22.40% Total $ 149,259,265 $ 158,915,530 $ 9,656,265 6.50% Changes from Manager’s Recommended Budget Changes to CIP program: •Sewer Conveyance system expansion –added new project $ 5,000,000 •Marana Community Center –design moved to FY2022 from FY2023 1,970,000 •Marana Park Reservoir –oversizing to increase tank capacity 567,875 •Carry forward adjustments to ongoing projects 2,322,040 Changes to operating budgets: •Preschool IGA with Pima County 132,000 •Carry forward adjustments 473,900 •Other changes 53,799 Total amount of Changes $ 10,519,614 6 General Fund Budget Summary •Revenues: $358,508 7 Category FY2021 Budget FY2022 Tentative $ Change % Change Revenue $ 44,636,390 $ 53,735,342 $ 9,098,952 20.4% Expenditures 43,516,449 50,152,321 6,635,872 15.2% Transfers In 5,628,966 -(5,628,966)-100.0% Transfers Out 4,514,884 4,286,035 (228,849) -5.1% Change in fund balance $ 2,234,023 $ (703,014)$ 2,691,929 120.5% •Expenditures: $235,523 Changes from Recommended budget FY2022 Tentative Budget Establish the overall expenditure limitation for FY2022 at $158.9 million Expenditure authority may only be reallocated or reduced Structurally balanced Reflects the careful allocation of available resources Invests in key areas Public hearing for final budget adoption on June 15, 2021 8 DISCUSSION 9