Title
Presentation of the 2015 Preliminary Operating Budget
Recommended Action
Committee Recommendation:
Operating budget is being discussed at Finance Committee.
City Manager Recommendation:
Move to receive the document and begin budget discussions.
Report
Issue:
Receive the City Manager's 2015 Preliminary Operating Budget
Staff Contact:
Jane Kirkemo, Administrative Services Director, 360.753.8499
Presenter(s):
Steve Hall, City Manager
Jane Kirkemo, Administrative Services Director
Background and Analysis:
The Preliminary 2015 Operating Budget will be presented Tuesday night, October 28, 2014. The document will be available on the website October 29, 2014.
The budget for 2015 is $123.9 million reflecting a 3.4% increase over the 2014 expenditures.
The budget does include a 1% increase for property taxes, application of the utility tax on cable TV, plus other increases in utility rates, impact fees, and general facility charges (GFCs). Following tonight's meeting the Council will hold other meetings to discuss the City's 2015 Budget and Capital Facilities Plan (CFP).
· Nov. 3 Monday Council meeting
· Nov. 12 Finance Committee meeting
· Nov. 18 Public Hearing(s):
o CFP
o Operating Budget
o Ad Valorem tax
· Nov. 25 Budget Balancing
· Dec. 9 First reading on Budget and corresponding ordinances
· Dec. 16 Final adoption of budget
Neighborhood/Community Interests (if known):
The City is currently conducting a community survey. The survey results will be discussed during the budget deliberations.
Options:
N/A
Financial Impact:
The total budget is $123.9 million. The General fund, comprised of basic municipal services is $64.5 million representing a 2.9% increase over the current budget.