Yavapai Gaming - August 2014

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Prescott Valley Tribune | Prescott Valley, Arizona

home : latest news : local August 19, 2014

5/22/2013 8:03:00 AM
Council to decide $62.4 million budget at Thursday meeting
Prescott Valley Tribune

The Town Council conducted back-to-back budget workshops three weeks ago, and appears ready to adopt a $62.4 million budget for the fiscal year starting July 1.

The tentative budget for 2013-14 is down from the $66.7 million budget that the council adopted for the current fiscal year.

The budget projects more than $135 million in total funds, including $71.4 million in total enterprise funds (from payments for water and sewer service) and nearly $32.6 million in the general fund (which covers most municipal operations).

The tentative budget also projects $15.8 million in total debt service funds and about $11.2 million in special revenue funds (which contain legal restrictions on how they may be spent).

Town staff projects spending in the 2013-14 fiscal year to exceed $57.2 million, according to the tentative budget presented to the council.

The council will follow up on Thursday's meeting by scheduling a public hearing and adoption of the final budget June 27. The final budget may not be any larger than the tentative budget.

The council meeting will begin at 5:30 p.m. and take place in the library auditorium, 7401 E. Civic Circle.

Also on the agenda are:

• A restated financing agreement involving the StoneRidge Community Facilities District, Univest and the property trust for refinancing bonds that financed roads and other public improvements in the StoneRidge subdivision. Univest is the developer that took over from SunCor, which filed for bankruptcy.

• Three grant awards to the Police Department from the Governor's Office of Highway Safety.

• A resolution to revise the town's administrative fees to delegate authority to the Police Department to set fees. The fees cover services such as photocopying and fingerprinting.

• On the consent agenda, an agreement for professional services with Red Oak Consulting of Denver to conduct a development impact fee study at a maximum cost of $86,800.

Related Stories:
• Council OKs $62.4M budget

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Yavapai Gaming - August 2014

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