"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 #1021, May 9, 2022
Issue #1021, May 9, 2022
Mayor Les Peterson opened the discussion about adopting the tentative budget and the bottom line for the fiscal year (FY) 2022/23, which starts on July 1st. He then turned the floor over to Gary Neiss.
Mr. Neiss explained that creating the budget is a 6 month process that begins in January, when staff reviews their workloads and looks at trends and projected needs for the following FY. In March, the Town receives inflationary indexes on various contracts and also revenue figures from the State to help mold the budget. 3 public budget workshops are held in April. At the first one, each department of the staff is there to make presentations of their workloads, projected needs, and accomplishments. The second workshop puts numbers to the anticipated revenues and expenses. The third workshop coalesces all this information into the Program Based budget.
The adoption of the bottom line sets the expenditure limit for the upcoming FY. At the June meeting, the final budget will be approved, after legally advertising the populated Schedules A-G State Auditor General Forms.
Each year, Mr. Neiss presents the Budget Dashboard.
60% of the revenue is generated by municipal sales tax, most of which is generated by a few big box stores. The introduction of the Hampton Inn by Hilton is a way to help diversify that "portfolio" by bringing people into the pedestrian friendly downtown overnight, expanding the nighttime consumer base that supports the restaurants, another major source of sales tax revenue (STR). This gives the Town additional traction to get more restaurants to come here, a desire that has been expressed by many residents. This is an example of why the economic development strategies are so important to the town. The balance of the revenue comes from State Shared Revenues and User Fees.
These revenue streams are what pay for the services the Town provides. The largest expense is, and has always been, public safety (fire & police protection), at about 40% of the operational expenses projected for the 2022/23 FY, coming from the General Fund. Carefree saves money for Capital investments, then spends the money. The Reserve Fund is as high as it has ever been. The 10 Year Capital Improvement Plan (CIP) details how money will be spent on assets like street maintenance each year. Investments in the Fire Program are also under continuing investigation, with the purchase of a new fire truck and joining the automatic aid system if the Town can afford the additional costs, and if the citizens choose to join it when the discussions take place in the fall. There is an upcoming drainage project which will be partially funded by a grant from the Flood Control District, and a program to replace the faded traffic signs around town.
Total expenditures are $14,209,122. Total exclusions from various Court Enhancement funds and from grants total $3,546,000. After the exclusions are taken into account, the total expenditure subject to limitation is $10,663,122. The Statutory expenditure limitation is $11,557,360. Carefree's budget is under the limitation by $894,238. These numbers are audited on an annual basis and are in line with what the auditors have approved. The final approval of the budget for FY 2022/23 will take place at the Council meeting on June 7th.
Mayor Peterson thanked Mr. Neiss for an excellent summary, noting that they had spent a considerable amount of time and thought, and had robust discussions on all these elements. He also thanked Jim Keen and Kandace Contreras for their tremendous help along the way. The motion to approve passed unanimously.
https://vimeo.com/706636042
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.
These revenue streams are what pay for the services the Town provides. The largest expense is, and has always been, public safety (fire & police protection), at about 40% of the operational expenses projected for the 2022/23 FY, coming from the General Fund. Carefree saves money for Capital investments, then spends the money. The Reserve Fund is as high as it has ever been. The 10 Year Capital Improvement Plan (CIP) details how money will be spent on assets like street maintenance each year. Investments in the Fire Program are also under continuing investigation, with the purchase of a new fire truck and joining the automatic aid system if the Town can afford the additional costs, and if the citizens choose to join it when the discussions take place in the fall. There is an upcoming drainage project which will be partially funded by a grant from the Flood Control District, and a program to replace the faded traffic signs around town.
Total expenditures are $14,209,122. Total exclusions from various Court Enhancement funds and from grants total $3,546,000. After the exclusions are taken into account, the total expenditure subject to limitation is $10,663,122. The Statutory expenditure limitation is $11,557,360. Carefree's budget is under the limitation by $894,238. These numbers are audited on an annual basis and are in line with what the auditors have approved. The final approval of the budget for FY 2022/23 will take place at the Council meeting on June 7th.
Mayor Peterson thanked Mr. Neiss for an excellent summary, noting that they had spent a considerable amount of time and thought, and had robust discussions on all these elements. He also thanked Jim Keen and Kandace Contreras for their tremendous help along the way. The motion to approve passed unanimously.
https://vimeo.com/706636042
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.