"Thomas Jefferson said a democracy is dependent on an informed citizenry. I don't care whether it sounds corny or not. It's the truth." -Jim Lehrer
Carefree Truth
Issue #841, July 13, 2020
A special meeting was held before the regular Council meeting to finalize the budget for Fiscal Year (FY) 2020/21. Gary Neiss noted that there were 2 public workshop meetings held in May, the budget bottom line was approved at the June Council meeting, and the final budget was up for approval at the July Council meeting. FY 2020/21 officially started on July 1st.
Mr. Neiss reported that there was a reduction in revenue, due to Covid 19, of approximately 20% in FY 2019/20, but with conservative spending the Town was still able to add about $15,000-$20,000 (due to Covid 19 delays, the final numbers weren't reconciled at that time) to the reserves. Carefree is fortunate to have numerous core services such as groceries, hardware and medical products that contributed to the sales tax revenue and helped to stabilize Carefree during the Covid 19 lock down. Construction tax revenue from the Hampton Inn and the new townhomes will help insulate Carefree going into the new FY. The Town is nimble and can adapt rapidly to changing situations. Despite the Covid 19 reversals, Carefree's Capital Reserve Fund is at an all time high of $10.5 million.
The FY 2020/21 budget total is $11.2 million. Revenues are: Local sales tax-52%, State Shared Revenue-25% and User Fees-$23%. Expenses are: Police and Fire Protection-41%, Human Resources-31% and Department Operations-28%. $5.5 million is forecasted for infrastructure investments serving citizens and businesses such as streets, water and crosswalk improvements, to be drawn from the savings in the Capital Reserves. As always, each of these large infrastructure expenditures will come before the Council for approval before being spent. The final budget was approved unanimously.
June 2nd approval of the bottom line:
https://vimeo.com/425381262
July 7th approval of the final budget:
https://vimeo.com/436298389
Lyn Hitchon
Prepared by Carefree Truth
Copyrighted
Visit our website at www.carefreetruth2.com If you know anyone who would like to be added to the Carefree Truth email list, please have them contact me. Feel free to share Carefree Truth with others on your list.
Visit www.carefreeazbusinesses.com to see more info about businesses in Carefree. Please support our merchants.
Issue #841, July 13, 2020
A special meeting was held before the regular Council meeting to finalize the budget for Fiscal Year (FY) 2020/21. Gary Neiss noted that there were 2 public workshop meetings held in May, the budget bottom line was approved at the June Council meeting, and the final budget was up for approval at the July Council meeting. FY 2020/21 officially started on July 1st.
Mr. Neiss reported that there was a reduction in revenue, due to Covid 19, of approximately 20% in FY 2019/20, but with conservative spending the Town was still able to add about $15,000-$20,000 (due to Covid 19 delays, the final numbers weren't reconciled at that time) to the reserves. Carefree is fortunate to have numerous core services such as groceries, hardware and medical products that contributed to the sales tax revenue and helped to stabilize Carefree during the Covid 19 lock down. Construction tax revenue from the Hampton Inn and the new townhomes will help insulate Carefree going into the new FY. The Town is nimble and can adapt rapidly to changing situations. Despite the Covid 19 reversals, Carefree's Capital Reserve Fund is at an all time high of $10.5 million.
The FY 2020/21 budget total is $11.2 million. Revenues are: Local sales tax-52%, State Shared Revenue-25% and User Fees-$23%. Expenses are: Police and Fire Protection-41%, Human Resources-31% and Department Operations-28%. $5.5 million is forecasted for infrastructure investments serving citizens and businesses such as streets, water and crosswalk improvements, to be drawn from the savings in the Capital Reserves. As always, each of these large infrastructure expenditures will come before the Council for approval before being spent. The final budget was approved unanimously.
June 2nd approval of the bottom line:
https://vimeo.com/425381262
July 7th approval of the final budget:
https://vimeo.com/436298389
Lyn Hitchon
Prepared by Carefree Truth
Copyrighted
Visit our website at www.carefreetruth2.com If you know anyone who would like to be added to the Carefree Truth email list, please have them contact me. Feel free to share Carefree Truth with others on your list.
Visit www.carefreeazbusinesses.com to see more info about businesses in Carefree. Please support our merchants.