HomeMy WebLinkAboutR-2019-052 Adopting Fiscal Year 2019-2020 Annual Budget RESOLUTION NO. R—2019-052
A RESOLUTION ADOPTING THE FISCAL YEAR 2019-2020 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, have prepared a proposed budget for Fiscal Year 2019-
2020 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 2019-2020 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 2019-2020 is hereby approved and adopted
authorizing and appropriating expenditures and transfers in the amount of $46,261,194 as set
forth in Exhibit A attached hereto and incorporated herein.
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;
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
RESOLUTION NO. R—2019-052
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 2019.
!e Mayor Kathleen L. Rose
ATT T> ,
Rbbift Kincaid,.gity Clerk
EXHIBIT A
2019/20 Operating Budget
Capital Community Capital Equip Debt Service Tourism Tax Total
General Fund Improvement Fund Develop.Fund Fund Fund Fund All Funds
06/30/19 Balance(Est) $ 15,125,896 $ 4,373,683 $ 2,494,303 $ 312,306 $ 6,076,468 $ 658,129 $ 29,040,785
Permits&Licenses 95,500 - - - - - 95,500
Fees Fines&Forfeitures 241,000 - - - - - 241,000
Taxes 2,961,320 - - - - 185,000 3,146,320
Interest on Accounts 400,000 3,000 10,000 60,000 473,000
Miscellaneous 179,490 - - - - - 179,490
TIP Revenue - 109,500 - 9,242,000 - 9,351,500
Reimb. from Other Entities 595,000 595,000
Sale of Land Proceeds 200,000 - - - - - 200,000
Real Estate Income 4,300,000 4,300,000
Missouri Gaming Commission 6,600,000 - - - - 6,600,000
Subtotal 14,977,310 598,000 119,500 - 9,302,000 185,000 25,181,810
Transfers From Other Funds 6,000,000 9,000,000 1,500 450,000 - - 15,451,500
Total Revenue 20,977,310 9,598;000 121,000 450,000 9,302,000 185,000 40,633,310
Available Funds $ 36,103,206 $ 13,971,683 $ 2,6.15,303 $ 762,306 $ 15,378,468 $ 843,129 $ 69,674,095
Expenditures
Elected Officials 58,519 - - - - - 58,519
Administration 1,622,918 - - 95,000 - 150,000 1,867,918
Human Resources 150,000 - - - - - 150,000
Municipal Court 235,532 - - - - - 235,532
PS Administration 546,711 - - - - - 546,711
Police Services 2,765,984 - - 120,000 - - 2,885,984
Operations Support 706,871 - - - - - 706,871
Fire 2,021,312 - - 55,600 - - 2,076,912
Public Works 1,426,719 - - 8,000 - - 1,434,719
Engineering 285,649 - - - - - 285,649
Building Maintenance 348,500 - - - - - 348,500
Parks 384,000 - - - - - 384,000
Community Center 537,471 - - - - - 537,471
Community Development 535,908 - - 11,500 - - 547,408
Board of Aldermen Contingency - - - - _ _ -
Capital Project Expenditures - 11,773,000 750,000 - - - 12,523,000
Debt Service - - - - 6,222,000 - 6,222,000
Total Expenditures $ 11,626,094 $ 11,773,000 $ 750,000 $ 290,100 $ 6,222,000 $ 150,000 $ 30,811,194
Transfers To Other Funds 9,450,000 - - - 6,000,000 - 15,450,000
Total Expenditures&Transfers 21,076,094 11,773,000 750,000 290,100 12,222,000 150,000 46,261,194
06/30/20 Fund Balance $ 15,027,111 $ 2,198,683 $ 1,865,303 $ 472,206 $ 3,156,468 $ 693,129 $ 23,412,900