City Budget Update

Release Date: 
05/20/2014

The City’s budget committee voted unanimously to approve the proposed budget for the fiscal year 2015 at the May 8 committee meeting held in the Little Theatre Room of the Vert Auditorium.

The total budget for the City is proposed to be $50,206,993, down slightly from the previous year.  Much was reported last year regarding the need to use up reserves in the General Fund to operate.  This year, it is projected that the City will be able to increase the diminished reserves by an estimated 33%, largely due reductions in staff, increases in fees and other efficiencies.

Optimally, that number should be nearly $1M higher.  Public safety continues to be the priority of the City, with over 60% of general fund dollars going toward the efforts of our police, fire and ambulance departments.

Inter fund loans which were at $3.48M at the end of the last fiscal year are anticipated to be reduced to $3.2M the end of this year and $2.7M on July 1, 2015.  Airport debt, currently at $2.2M is projected to be $2.1M at the end of next year, using conservative revenue estimates associated with the unmanned aerial vehicle (UAV) test range customers anticipated.  We are hopeful that we can report even more of a debt reduction in this amount next year.

This year’s budget attempts to sustain service levels and better addresses the deferred maintenance needs of the City.  Money made available to perform maintenance capital needs out of the General Fund will be increased from $57,250 to $558,000.

View the complete FY 2014 – 2015 Budget here.

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