Fiscal Year 2019 Budget

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reduced due to the redirection of employees time to snow removal. If we do miss a budget projection, city staff/administration will bring that to council’s attention and explain the need for an amendment to the current budget. City Council needs to remember that a missed projection due to unforeseen circumstances is not a failure on the staff’s part, but a reason why it is hard to budget 18 months in advance of the actual expenditures. There will always be unforeseen events that will have an impact on the budget. Overall, we have a lot to be thankful for. The city continues to experience growth in the property valuations, which enables us to maintain the tax levy. While some of this growth is the result of a re- evaluation of the existing property, there is also growth due to recent new construction that has occurred in the past few years. The city continues to budget conservatively which has allowed the city to build cash reserves to meet future emergencies and needs. If not for these cash reserves, the city would be looking at an increase in the levy to meet service demands. For example, in FY 2016, the city’s overall valuation increased just $18,000, which translated into $171 in new taxes for the general fund. In FY 2016, the city was able to tap into cash reserves in order to maintain a level tax levy. Our challenges compared to other rural, non-metro, governmental entities across the state seem small. Spencer has been blessed with a growing tax base, increased housing starts, and new commercial and industrial business looking to locate or expend in our community. All of this allows Spencer to continue to offer a great quality of life at an affordable rate to our residents. Budget calendar Date Who What August 15, 2017 Staff

Distribution of FY19-23 Capital Improvement Plan (CIP) revision worksheets CIP worksheets were due to Finance Department Review of proposed FY19-23 CIP plan Distribution of FY18-19 budget request worksheets to departments Budget worksheets due to Finance Department Initial overview of FY 2019 budget and priorities Public Safety and Progress and Development Committee meetings to review respect budget requests Finance & Personnel Committee meeting to review respect budget requests Public Works Committee to review respect budget requests Hold public hearing to discuss proposed budget and tax levy for FY 2019 and approve Certify final tax levy and budget to County and State Review and approve proposed utility rate increases

September 29, 2017

Staff

November 27, 2017

Council / Staff

December 12, 2017

Staff

December 29, 2017

Staff

January 15, 2018

Council / Staff

January 29, 2018

Council / Staff

January 30, 2018

Council / Staff

February 12, 2018

Council / Staff

March 5, 2018

Council

March 9, 2018

Staff

April / May 2018

Council