HomeMy WebLinkAboutR-2017-033 Adopting Fiscal Year 2017-2018 Annual Budget RESOLUTION NO. R—2017-033
A RESOLUTION ADOPTING THE FISCAL YEAR 2017-2018 ANNUAL BUDGET FOR THE
CITY OF RIVERSIDE, MISSOURI.
WHEREAS, the Board of Aldermen adopted a fiscal year that begins on July 1 of each
year and ends on June 30 of the following year; and
WHEREAS, the Finance Director, in consultation with city staff, the City Administrator,
and the Mayor and Board of Aldermen, has prepared a proposed budget for Fiscal Year 2017-
2018 and submitted it to the Board of Aldermen, in accordance with Chapter 67 of the Missouri
Revised Statutes; and
WHEREAS, the Board of Aldermen has studied, examined and discussed the proposed
budget in public meetings and amended the proposed budget with such revisions, alterations,
increases or decreases as the Board deems advisable; and
WHEREAS, the total expenditures from the various funds in the proposed budget, as
amended by the Board of Aldermen, do not exceed the estimated revenues to be received plus
any unencumbered balances, as required by Chapter 67 of the Missouri Revised Statutes; and
WHEREAS, the Board of Aldermen find it is in the best interest of the citizens of the City
of Riverside to adopt the Fiscal Year 2017-2018 Budget attached hereto and made a part hereof
by reference;
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN FOR THE
CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT the Annual Budget for the Fiscal Year 2017-2018 is hereby approved and adopted
authorizing and appropriating expenditures and transfers in the amount of$25,195,337 as set
forth in Exhibit A attached hereto and incorporated herein.
FURTHER THAT to the extent that the Annual Budget for the Fiscal Year 2017-2018
includes 2% pay raises, such increase shall not be applied with respect to Fire Department
employees represented by IAFF Local No. 42, with whom the City is engaging in collective
bargaining negotiations.
FURTHER THAT said budget includes the following information:
a. A budget message, describing the important features of the budget and major
changes from the preceding year;
b. Estimated revenues to be received from all sources for the budget year, with a
comparative statement of actual or estimated revenues for the two years next
preceding, itemized by year, fund, and source;
RESOLUTION NO. R—2017-032
c. Proposed expenditures for each department, office, commission, and other
classification for the budget year, together with a comparative statement of actual or
estimated expenditures for the two years next preceding, itemized by year, fund,
activity, and object;
c. The amount required for the payment of interest, amortization, and redemption
charges on the debt of the political subdivision; and
e. A general budget summary.
PASSED AND ADOPTED by the Board of Aldermen and APPROVED by the Mayor of
the City of Riverside, Missouri, the day of June, 2017.
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2017/18 Operating Budget
Capital Community Capital Equip Debt Service Tourism Tax Total
General Fund Improvement Fund Develop,Fund Fund Fund Fund All Funds
06/30/17 Balance(Est) 9,690,001 2,502,110 499,254 286,774 6,180,493 501,547 19,660,179
Permits&Licenses 95,500 - - - - - 95,500
Fees Fines&Forfeitures 280,500 - 280,500
Taxes 2,701,960 - - 190,000 2,891,960
Interest on Accounts 35,000 400 30,000 65,400
Miscellaneous 164,737 - - - - 164,737
TIF Revenue - - 101,500 7,280,000 - 7,381,500
Reimb. from Other Entities 50,000 50,000
Sale of Land Proceeds - - - 200,000 - 200,000
Real Estate Income 4,400,000 4,400,000
Missouri Gaming Commission 6,600,000 - - - 6,600,000
Subtotal 14,277,697 50,400 101,500 - 7,510,000 190,000 22,129,597
Transfers From Other Funds 1,500,000 2,500,000 - 300,000 - - 4,300,000
Total Revenue 15,777,697 2,550,400 101,500 300,000 7,510,000 190,000 26,429,597
Available Funds 25,467,698 5,052,510 600,754 586,774 13,690,493 691,547 46,089,776
Expenditures
Administration 1,663,200 - - 100,000 - 146,000 1,909,200
Human Resources 140,000 - - - - 140,000
Municipal Court 210,478 - - - - - 210,478
PS Administration 502,897 - - 3,400 - - 506,297
Police Services 2,649,372 - - 184,500 - - 2,833,872
Operations Support 679,880 - - 31,000 - - 710,880
Fire 1,807,402 - - 67,000 - - 1,874,402
Public Works 1,342,086 - - 54,000 - - 1,396,086
Engneering 234,782 - - - - - 234,782
Building Maintenance 342,700 - - - - - 342,700
Parks 389,100 - - - - - 389,100
Community Center 423,468 - - - - - 423,468
Community Development 498,237 - - - - - 498,237
Capital Project Expenditures - 2,505,000 - - - - 2,505,000
Debt Service - - - - 6,920,836 - 6,920,836
Total Expenditures 10,883,601 2,505,000 - 439,900 6,920,836 146,000 20,895,337
Transfers To Other Funds 2,800,000 - - - 1,500,000 - 4,300,000
Total Expenditures&Transfers 13,683,601 2,505,000 - 439,900 8,420,836 146,000 25,195,337
06/30/18 Fund Balance 11,784,097 2,547,510 600,754 146,874 5,269,657 545,547 20,894,439