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Home My WebLink About2018-06-8537ORDINANCE NO. 2018-06-8537 AN ORDINANCE ADOPTING THE CITY OF PADUCAH, KENTUCKY, ANNUAL OPERATING BUDGET FOR THE FISCAL YEAR JULY 1, 2018, THROUGH JUNE 305 2019, BY ESTIMATING REVENUES AND RESOURCES AND APPROPRIATING FUNDS FOR THE OPERATION OF CITY GOVERNMENT. WHEREAS, an Annual Operating Budget proposal has been prepared and delivered to the Board of Commissioners of the City of Paducah, KY; and, WHEREAS, the Board of Commissioners has reviewed and discussed the proposed Annual Operating Budget and desires to adopt it for Fiscal Year 2019. NOW, THEREFORE, BE IT ORDAINED by the City of Paducah, Kentucky as follows: Section 1: The Annual Operating Budget for the Fiscal Year beginning July 1, 2018 and ending June 30, 2019, including all sources of estimated revenues and appropriations for all City funds as set forth in Exhibit Number 1 attached hereto is hereby adopted. Section 2: The balance of all capital construction, renovation, improvement projects and grants currently approved and/or nearing completion are hereby approved for re -appropriation and carry over for the Fiscal Year beginning July 1, 2018 and ending June 30, 2019. Section 3: The City does hereby adopt the following financial management policies: A. The General Fund's minimum undesignated cash balance shall be 12% of the General Fund's budgeted appropriations. The Investment Fund's minimum undesignated cash balance shall be 12% of the Investment Fund's budgeted appropriations. The Solid Waste Fund's minimum unreserved cash balance shall be 12% of the Solid Waste's budgeted operating expenses. The Debt Service Fund's minimum cash balance shall be not less than $800,000. B. The City Manager or designee is authorized to transfer appropriated amounts between funds, departmental budget line items, projects, between divisions of departments, and between departments as shown in Exhibit Number 1. C. Appropriations designated as Commission contingency shall be obligated upon approval by the City Commission by municipal order. D. Funds appropriated as Administrative contingency shall be obligated at the discretion of the City Manager or his designee; however, the Board of Commissioners shall be notified five calendar days prior to obligation of the proposed expenditure. If any individual member of the Board of Commissioners requests Commission review of a proposed expenditure, the City Manager shall bring expenditure before the Commission for approval by municipal order, or not proceed. E. City Manager or designee shall assure that recurring revenues and resources are greater than or equal to recurring expenditures. The City Manager or his designee shall be authorized to increase appropriations in an amount not to exceed any unanticipated increases in revenue or resources. F. The City Manager or designee has the authority to enact a budget allocation program or to transfer funds to or from any departmental line item appropriation. Department Directors shall be responsible for keeping all appropriated accounts within their respective departments positive. G. As vehicles are acquired, the City will fully fund the Fleet Lease Trust Fund in order to replace rolling stock owned by the Fleet Lease Trust Fund as it achieves obsolescence. The Fleet Lease Trust Fund shall be funded with monthly lease charges assigned to rolling stock as determined by the Finance Director or his designee. All rolling stock is owned by the City's Fleet Lease Trust Fund, and leased to respective departments for use. H. The City will maintain a self-insurance fund called Health Insurance Trust Fund through the use of user fees as set by administrative policy. I. The City will continue to maintain the Appointive Employees Pension Fund (AEPF) in a fully funded status through sound financial management and/or annual General Fund transfers as designated in the budget document. The AEPF may be combined with the PFPF should it be determined, by the Finance Director, that such a combination is administratively more effective and/or financially prudent. J. In fiscal year 2006, the City issued a General Obligation Bond (GOB) for the Police and Firefighters' Pension Fund (PFPF) bringing the fund up to an actuarially sound basis; however, the multi-year recession starting in fiscal year 2009 reduced the fund's corpus leaving a new unfunded liability. Funding is provided in the General Fund of this ordinance to further address the PFPF unfunded liability. K. The City will provide to all eligible employees up to a $727 per month credit (for the months of July - December 2018) to be applied to the Comprehensive Health Insurance Benefit Plan (Cafeteria Plan) as directed by the employee. In January 2019, this monthly credit may be adjusted by the Board of Commissioners as recommended by the City Manager or his designee. L. The City will maintain a special fund called Investment Fund, and is considered an extension of the General Fund. The Investment Fund will be funded with a 1/2 cent increase in the City's occupational license fee (employee payroll withholding tax). This fund is dedicated to the following expenditures: economic development, neighborhood re -development, infrastructure capital investment and property tax relief. M. The Oak Grove Cemetery (PF0048) project will be funded in the following manner: 20% of all cemetery lot sales and 5% of all cemetery crypt sales will be credited to the project. Proceeds are to be used solely for the general care, maintenance, and embellishments of the cemetery. Section 4: The provisions of this Ordinance are hereby declared to be severable, and if any section, phrase or provision shall for any reason be declared invalid, such declaration of invalidity shall not affect the validity of the remainder of this Ordinance. Section 5: All prior Municipal Orders or Ordinances or parts of any Municipal Order or Ordinance in conflict herewith are hereby repealed. Section 6: This ordinance shall be read on two separate days and will become effective upon publication in full pursuant to KRS Chapter 424. CL:�n� w -A - Mayor ATTEST: Tammara Sanderson, City Clerk Introduced by the Board of Commissioners, June 12, 2018 Adopted by the Board of Commissioners, June 26, 2018 Recorded by Tammara Sanderson, City Clerk, June 26, 2018 Published by The Paducah Sun, June -34, 2018 ORD\Finance\Budget FY2019 �p� --- - - - ---------- ------------- Fund Tranfers In $ 720,000 $ 1,729,145 $ 1,268,500 $ 2,744,405 $ 57,250 $ 342,960 $ 374,035 $ 7,236,295 Total Sources General Special Capital Debt Fnterprise Internal Trust Fund Revenues Projects Service Funds Service Funds Total Sources: 2,502,435 Finance 1,132,655 1,602,800 250,000 3,756,330 - - --- ---------- 4,375,650 Fines 76,000 $ 25,000 ------- -------------- $ - - 776,745 Planning 782,905 250,000 101,000 Grants 819,000 790,000 Police 50,830 234,335 - 1,894,165 Interest Income -- ---------- 260,000 25,000 75,000 48,100 56,520 140,100 529,720 Bond Proceeds 1,554,750 2,910,000 1,100,000 605,795 - - - 4,010,000 Charges for Service 705,120 28,000 - Cable Authority 4,500,940 5,480,150 10,780 10,724,990 Other Fees 32,000 - 14,220 5,000 - - 37,000 Occupational License 24,828,600 5,320,000 1,500,000 685,095 2,798,865 Human Resources 30,833,695 Permits & Fees 487,000 3,795,000 - 4,140,480, 7,500 - 1,247,750 494,500 Property Rent 416,425 252,840 E911 289,000 82,000 979,690 - 2,019,955 Property Taxes 6,888,000 - - - 5,223,085 - 6,888,000 Recreation Fees 93,500 ------- - - --- ----- - 1,140,330 1,140,330 Fund Transfers Out - 93,500 Sales 18,200 10,019,795 100,000 51,000 458,500 627,700 Other Taxes - - - 1,320,000 - - - - 1,320,000 - -------- Total 34,623,845 $ 10,670,840 1,100,000 1,024,925 $ 4,977,875 6,567,360 609,380 $ 59,574,225 --- - - - ---------- ------------- Fund Tranfers In $ 720,000 $ 1,729,145 $ 1,268,500 $ 2,744,405 $ 57,250 $ 342,960 $ 374,035 $ 7,236,295 Total Sources 35,343,845 $12,399,985 2,368,500 $3,769,330 $5,035,125 $ 6,910,320 $ 983,415 $66,810,520 EKpenditures: General Government 2,502,435 2,502,435 Finance 1,132,655 1,602,800 250,000 3,756,330 - - --- ---------- 4,375,650 79,300 11,196,735 Information Systems 776,745 ------- ----- - - 776,745 Planning 782,905 250,000 498,500 --- --- 189,320 ---- - ----- ------- 1,720,725 Police 10,115,460 40,750 - 10,156,210 Fire 8,815,325 75,000 8,890,325 Engineering/Public W, 4,127,470 1,554,750 250,000 . .. ........ . 605,795 61538,015 Parks 3,438,475 195,000 251,055 - 3,884,530 ...------ --- Cable Authority 100,605 - --- - ------ -- ------ 100,605 Human Rights 14,220 - 14,220 Engineering 1,298,865 1,500,000 2,798,865 Human Resources 345,480 3,795,000 - 4,140,480, Investment Fund - 1,247,750 -- ---------- - - 1,247,750 E911 - 1,855,185 - 1,855,185 Solid Waste - - 5,223,085 5,223,085 --- - ----- --------- -- - Pensions - - 1,140,330 1,140,330 Fund Transfers Out 1,893,205 7,503,380 623,210 10,019,795 Total Expenditures $ 35,343,845 $ 14,054,615 $ 2,768,500 $3,756,330 $ 6,286,670 $ 8,776,445 $ 1,219,630 $ 72,206,035 Reserves Utilized $ $ (1,654,630) $ (400,000) $ 13,000 , $ (1,251,545) $ (1,866,125) $ (236,215); $ (5,395,515),