HomeMy WebLinkAboutR-2020-040 Adopting Fiscal Year 2020-2021 Annual Budget RESOLUTION NO. R— 2020-040
A RESOLUTION ADOPTING THE FISCAL YEAR 2020-2021 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 2020-
2021 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 2020-2021 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 2020-2021 is hereby approved and adopted
authorizing and appropriating expenditures and transfers in the amount of $40,806,881 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;
d. The amount required for the payment of interest, amortization, and redemption
charges on the debt of the political subdivision; and
RESOLUTION NO. R— 2020-040
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 2020.
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a or Kathleen L. Rose
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;ATTEST
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Rok i.n.K-in6ai City Clerk
FY2020-21 Operating and Capital Budget
Capital Community Equip.Replace. Debt Service Tourism Tax Total
General Fund Improvement Fund Develop. Fund Fund Fund Fund All Funds
06/30/20 Balance(Est) $ 17,060,037 $ 1,396,807 $ 2,637,340 $ 451,993 $ 3,498,632 $ 691,366 $ 25,736,175
Permits&Licenses 95,300 - - - - - 95,300
Fees Fines&Forfeitures 240,500 - - - - - 240,500
Taxes 2,778,897 - - - - 150,000 2,928,897
Interest on Accounts 350,000 400 10,000 60,000 420,400
Miscellaneous 187,117 - - - - - 187,117
TIF Revenue - - 109,500 - 8,026,940 - 8,136,440
Reimb. from Other Entities 605,000 605,000
Sale of Land Proceeds 200,000 - 650,000 - - - 850,000
Real Estate Income 3,800,000 3,800,000
Missouri Gaming Commission 5,610,000 - - - - - 5,610,000
Subtotal 13,261,814 605,400 769,500 - 8,086,940 150,000 22,873,654
Transfers From Other Funds 4,500,000 8,000,000 1,500 400,000 - - 12,901,500
Total Revenue 17,761,814 8,605,400 771,000 400,000 8,086,940 150,000 35,775,154
Available Funds $ 34,821,852 $ 10,002,207 $ 3,408,340 $ 851,993 $ 11,585,572 $ 841,366 $ 61,511,330
Expenditures
Elected Officials 58,519 - - - - - 58,519
Administration 1,615,470 - - 50,000 - 150,000 1,815,470
Human Resources 160,000 - - - - - 160,000
Municipal Court 236,344 - - - - - 236,344
PS Administration 532,384 - - - - - 532,384
Police Services 2,991,997 - - 115,000 - - 3,106,997
Operations Support 739,308 - - - - - 739,308
Fire 2,098,238 - - 75,050 - - 2,173,288
Public Works 1,372,364 - - 34,200 - - 1,406,564
Engneering 293,850 - - - - - 293,850
Building Maintenance 362,500 - - - - - 362,500
Parks 393,000 - - - - - 393,000
Community Center 548,158 - - - - - 548,158
Community Development 556,026 - - - - - 556,026
Board of Aldermen Contingency - - - - - - -
Capital Project Expenditures - 8,609,000 2,000,000 - - - 10,609,000
Debt Service - - - - 4,913,974 - 4,913,974
Total Expenditures $ 11,958,157 $ 8,609,000 $ 2,000,000 $ 274,250 $ 4,913,974 $ 150,000 $ 27,905,381
Transfers To Other Funds 8,401,500 - - - 4,500,000 - 12,901,500
Total Expenditures&Transfers 20,359,657 8,609,000 2,000,000 274,250 9,413,974 150,000 40,806,881
06/30/21 Fund Balance $ 14,462,194 $ 1,393,207 $ 1,40,340 $ 577,743 $ 2,171,598 $ 691,366 $ 20,704,448