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  10.A.       
Meeting Date: 06/15/2021  
From: Rick Tadder, Management Services Director

TITLE:
Consideration and Adoption of Resolution No. 2021-28: A resolution of the Council of the City of Flagstaff, Arizona, adopting the Budget for the City of Flagstaff for Fiscal Year 2021-2022.
STAFF RECOMMENDED ACTION:
1) Read Resolution No. 2021-28 by title only
2) City Clerk reads Resolution No. 2021-28 by title only (if approved above)
3) Adopt Resolution No. 2021-28
4) Reconvene Regular Meeting
Executive Summary:
Each municipality is required to adopt a budget as prescribed by A.R.S. Title 42, Chapter 17, Articles 1 through 5.  As published in the tentative adoption of the budget, the final budget is to be adopted on June 15, 2021, (during a Special Meeting), and following a public hearing to receive citizen comments.
Financial Impact:
The final budget adoption allows the City to commit and spend funds for community needs as described in the Fiscal Year (FY) 2021-2022 Budget.  This will set the maximum allowable expenditures for FY 2021-2022. 
Policy Impact:
The FY 2021-2022 budget is the financial plan of the City for the upcoming fiscal year.
Connection to PBB Key Community Priorities/Objectives & Regional Plan:
The adoption of the Annual Budget and Financial Plan provides direction and financial resources to support the Key Community Priorities and Objectives, Regional Plan and Team Flagstaff Strategic Plan.
Has There Been Previous Council Decision on This:
  • December Budget Retreat on December 17, 2020
  • February Budget Retreat on February 1, 2021
  • Council Budget Work Session on April 22, 2021 and April 23, 2021
  • Tentative Budget Adoption on June 1, 2021
Options and Alternatives:
  • Approve the budget as presented: As the City adopted the tentative budget on June 1, 2020, the maximum appropriation for FY 2021-2022 has been set. 
  • Amend and approve the budget:  The Council could choose to make adjustments within that maximum appropriation or make reductions in the maximum appropriation.
Background/History:

The budget was presented for tentative adoption on June 1, 2021. The tentative adoption established the maximum appropriation for the City for FY 2021-2022. The budget legal schedules were published in the Arizona Daily Sun on June 3, 2021, and June 10, 2021.

Key Considerations:
The adoption of the tentative budget set forth into motion a legally mandated time sequence of actions of which the Council must adhere to adopt a final budget. If this time sequence is not met as required by statute, the tentative budget adoption, final budget adoption, and related publications must be started over. The final budget adoption must occur after a public hearing and Council must convene into a Special Meeting to adopt the final budget. The budget must be adopted by the third week of July.
 
June 1, 2021    Tentative adoption of the budget by Council
June 15, 2021  Public hearing on FY 2020-2021 Budget and Property Tax Levy
June 15, 2021  Final budget adoption (In a Special meeting)
Expanded Financial Considerations:
Funds must be appropriated to allow for expenditures to occur. The City can spend less than the adopted budget, however, we cannot exceed the budget even if revenues are higher than what was adopted. 

The City Council adopted an Economic Recession Plan ("Recession Plan") which provides guidance in expenditure reduction measures to ensure we stay within the revenue resources we receive as a result changes in economic conditions. The City monitors financial revenue data throughout the year. 
Community Benefits and Considerations:
The budget process has allowed for public participation which is vital for the City Council in determining the current year priorities and objectives.  The budget assists in translating the community's priorities and objectives into fiscal reality.  Timely budget adoption allows the City to commit expenditures as related to the FY 2021-2022 Budget as needed for ongoing operational consistency to the citizenry.  The FY 2021-2022 Budget is balanced.
Community Involvement:
Inform/Involve:  Earlier this evening there was a public hearing to receive any last public comments prior to final budget adoption.  Budget legal schedules were published in the June 3, 2021, and June 10, 2021, Arizona Daily Sun to allow for community review.  In addition, the legal and other budget schedules were made available at City Hall, at both Flagstaff Public Libraries, and on the official city website.
Attachments
Res. 2021-28
FY 2021-2022 Budget Schedules


    

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