Vibrant Regional

Quality of Life and Place

Supporting a High
Goals 1+3
Economy
Safe + Beautiful
Goals 2,7+8
Neighborhoods
Recreational,
Goal 4 Cultural + Educational
Opportunities
High Performing
Goals 5+6
Government
Strategic Plan – Guiding Our Direction
Improved Financial & Operational Status

• Improving our financial position - General Fund reserves

• Investing in our workforce
• Addressing deferred investments
• Creating annual pay-go and new revenue for priorities
• Conducting cost savings and efficiency programs
• Engage our community
FY 2021 Budget – Key Points
• No increase to tax rate
• Limited data and uncertainty creates challenges
• Long-term recovery with continued revenue declines
• Focus on the basics (police, fire, streets, workforce)
• No debt issuance (defer non-essential capital projects)
• Utilize all tools and resources to balance the budget
Dealing with the “New Normal”
• We Must Continue To Be FIRM…

•Focused – on the core, essential services

•Innovative – how we deliver services for the 21st
century

•Resilient – dealing w/ health, financial, and

operational impacts

•Mitigate – lessen economic impact on our community

FY 2021 Budget Calendar
• July 6 – 8: Overview and Vision Block presentations
• July 23rd: Receive Certified Property Values from CAD
• July 27th: Special Council meeting
• Review certified property values
• Introduce tax rate ordinance
• August 11th: Public hearing on the tax rate
• August 18th: City Council adopts budget and tax rate
Budget Adjustments to Balance
• Scaled-down and phased-in opening of quality of life facilities
• Maintain freeze on filling non-essential vacant positions
• Defer annual pay-go and debt issuance
• Utilize debt service savings
• Utilizing federal funding where possible
• Use of remaining budget stabilization funds
Our Approach to Budget Development
• No increase to tax rate
• Limited data and uncertainty creates challenges
• Long-term recovery with continued revenue declines
• Focus on the basics (police, fire, streets, workforce)
• No debt issuance (defer non-essential capital projects)
• Utilize all tools and resources to balance the budget
General Fund Budget – COVID-19 Impact
Revenue Expenses
$500

$482.6
$480

$458.1
$ in millions

$460 $458.1
$60M
starting
$440 deficit
$436.1
$431.7
$420
$422.6

$400
FY 2020 FY 2020 FY 2021 FY 2021
Budget COVID-19 Impact Requested Preliminary
Sales Tax
$100 $94.2
$92.1
Millions

$89.5
$90 $85.0 $85.0
$81.6 $83.1
$80 $78.2 $78.0
$73.3 $75.2
$72.3
$70

$60

$50

$40

$30

$20

$10

$0
FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2020 FY2021
Budget COVID19 Projected
Impact
Sales Tax
$12.0
$11.0

$9.8
$10.0
$9.0
$8.5 $8.5
$8.0 $8.2 $8.0 $8.0
$8.0 $7.7 $7.7 $7.6 $7.8 $7.6
$7.5

$6.7 $6.9 $7.0

$6.7 $6.7

$6.0

$4.0

$2.0

$-
SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST

FY2019 FY2020
Sales Tax
• Prior to March, 34 consecutive months of positive growth

• Through February, collections were up 10.5% compared to prior year

• May sales tax will be received until July 8

FY 2021 Budget – Key Points
• No increase to tax rate
• Limited data and uncertainty creates challenges
• Long-term recovery with continued revenue declines
• Focus on the basics (police, fire, streets, workforce)
• No debt issuance (defer non-essential capital projects)
• Utilize all tools and resources to balance the budget