Meeting Summary
The city council held a special meeting to discuss the fiscal year 2013-14 draft budget. The discussion focused on the format of the budget presentation, projected revenues, and significant capital improvement needs, particularly in transportation and parks. Staff highlighted increased efficiencies through reorganization and collaborative efforts in budget allocation.
Financial Matters
Projected Revenue Growth
A relatively safe projection of 4% growth in revenues for the upcoming fiscal year.
Budget Increase (Expenditures)
The proposed budget shows an increase in expenditures closer to $6 million, which includes projected growth and approximately $1.5 million from current year savings.
Personnel Services Budget
Requested budget for personnel services, up from $33 million last year.
Materials and Supplies Budget
Requested increase in the budget for materials and supplies.
Capital Outlay Budget
Significant increase in capital outlay for the budget year.
Cost of Living Adjustment (COLA)
Includes a 3% cost of living adjustment for employees.
O&M Contingency Fund
Requested amount for an operations and maintenance contingency fund.
Use Tax Allocation
Recommendation to continue allocating the first $600,000 of use tax to the Stillwater Economic Development Authority (CETA) for economic development.
Coming Up
Watch For
- Second budget meeting for further discussion and questions
- Recommendation for pavement management program on May 20th
- Revenue and expense projections to be sent out later in the week
Agenda Summary
Discussion of Fiscal Year 2013-14 Draft Budget
Presentation and initial discussion of the proposed budget for the upcoming fiscal year, including revenue projections, departmental allocations, and capital improvement requests.