Title
Consider an ordinance adopting the FY 2016-2017 Annual Budget for the City of Round Rock. (Second Reading)
Body
The City Manager’s original proposed budget as presented at the July 26, 2016 Budget Workshop totaled $322,284,950, after receiving further direction net changes were made in the amount of $1,250,000. The revisions are summarized on Attachment 2 - Revision Summary Schedule. The totals by fund are presented below:
• General Fund $106,711,934
• General Capital Projects & Equipment Fund $75,756,427
• Debt Service Fund $17,664,167
• Utility Fund $63,034,150
• Drainage Fund $12,208,916
• Hotel Occupancy Tax Fund $8,066,334
• Sports Center Fund $2,066,597
• Type B Fund $35,054,068
• Special Revenue Funds $2,972,357
Total FY 2016/17 Annual Budget $323,534,950
The budget proposal above assumes a property tax rate of $0.425.
The proposed 2016/17 Annual Budget was reviewed by the City Council at a Budget Retreat on July 26, 2016. The items presented in this proposed budget address Council’s Strategic Goals for FY 2016/17 and are summarized on Attachment 1 - FY2017 Proposed Budget - Highlights.
Exhibit A of the FY 2016/17 Budget ordinance includes a summary of the revenues and expenses for all of the funds for the City of Round Rock.
The Financial Policies and Authorized Purchases, as presented at the Council Packet Briefing on August 9, 2016, will be adopted by separate resolutions.
The complete proposed FY 2016/17 Annual Budget workbook can be found on the City of Round Rock’s website. A hard copy is available for review in the Round Rock Public Library.
A public hearing and first reading of the ordinance regarding the FY 2016/17 Annual Budget are being held tonight. The second reading of the ordinance will be on September 8, 2016.
Recommended Action
Staff recommends approval.