The city has received the estimate of FY2017 real property tax assessments and the total is 11.75% higher than the FY2016 assessment (prior to application of the homestead tax credit). Depending on the amount of the homestead tax credit, not available until mid-February, this increase could equate to a $750,000-900,000 increase in real property tax.
Expenditure Budget: Departments will be asked to limit non-personnel expenditures to FY2016 levels unless they provide justification for an increase. Exceptions are fuel and utilities. FY2017 will be the first year of a new collective bargaining agreement for certain Public Works employees and negotiations have not yet begun. As a result, it is unknown whether FY2017 will include a cost of living adjustment (“COLA”). Quotes for FY2017 employee benefits are not yet available.
Mayor & Council Wish Lists: Mayor & Council may submit “wish list” items for FY2017, whether for the operating or capital budgets. Submitting them by the February 12 deadline will allow time for the departments to price them out, and they may be included in the requested budget.
Budget Schedule: A tentative FY2017 Budget Schedule is attached. The first Saturday budget worksession is scheduled for April 9. Please see below the complete schedule below.
- Operating budget worksheets distributed to departments: Thursday, January 21
- Mayor & Council wish lists due back to Finance: Friday, February 12
- Pricing of Mayor & Council wish list items by departments: February 15 – 26
- Operating budget worksheets due back to Finance: Monday, February 22
- Capital project pages to be updated: February 1 – February 19
- Review of department operating budget submittals: March 7 – 11
- City Manager’s Requested Budget distributed to M&C: Thursday, March 31
- Budget worksessions Saturday, April 9 @ 7:30 am Saturday, April 16 @ 7:30 am (if needed)
- Additional worksessions if needed Budget ordinance introduced Monday, April 25
- Budget public hearing Constant yield tax rate public hearing (if needed) Tuesday, May 10
- Worksession discussion of possible budget changes after public hearing (if needed) Tuesday, May 17
- Adopt budget ordinance Tuesday, May 24
- Effective date of FY2017 adopted budget July 1
City Revenue Can Go Up by $750K from Property Tax in FY2017