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Home My WebLink About2021-06-8692 (FY2022 Budget)ORDINANCE NO. 2021-06-8692 AN ORDINANCE ADOPTING THE CITY OF PADUCAH, KENTUCKY, ANNUAL OPERATING BUDGET FORTHE FISCAL YEAR JULY 1, 2021, THROUGH JUNE 30, 2022, BY ESTIMATING REVENUES AND RESOURCES AND APPROPRIATING FUNDS FORTHE OPERATION OF CITY GOVERNMENT. 2022. 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 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, 2021 and ending June 30, 2022, 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 ofallcapital construction,renovation, improvement projects, and grants currentlyapproved and/ornearing completion are hereby approved for re -appropriation and carry over for the Fiscal Year beginning July 1, 2021 and ending June 30, 2022. Section 3. The City does hereby adopt the following financial management policies: A. The General Fund's minimum undesignated cash balance shall be 10% of the General Fund's budgeted appropriations. The Investment Fund's minimum undesignated cash balance shall be 10% ofthe Investment Proofs budgeted appropriations. The Solid Waste Fund's minimum unreserved cashbalance shall be 10% of the Solid Waste's budgeted operating expenses. The Debt Service Fund's minimum cash balance shall be not less than $400,000. B. The City Manager or designee is authorized to transfer appropriated mounts betwurt 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 atthe discretion ofthe CityManageq however, the Board of Commissioners shall be notified five calendar days priorto obligation ofthe proposed expenditure. ffany individual member ofthe Board of Commissioners requests Commission review of aproposed expenditure, the City Manager shall bring expenditure before the Commission for approval by municipal order, or not proceed. E. City Manager shall assurethat recurring revenues and resources are greaterthan or equal to recurring expenditures. The City Manger orhis designee shall be authorized to increase appropriations in an amount not to exceed any unanticipated increases in revenue or resources. F. The City Manager has the authority to coact a budget allocation program orm transfer funds to or from my departmental line item appropriation. Department Directors shall be responsible for keeping all appropriated accounts within their respective department positive. G. As vehicles are acquired, the City willfully fund the Fleet Lease Trust Fund in order to replace rolling stock owned by the Fleet Lease Trust Fund as itachieves obsolescence. The Fleet Lease Trust Fund shallbe 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 fond 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 afully funded status through sound financial management and/or annual General Fund transfers as designated in the budget document. The AEPF maybe combined with the PFPF should it be determined, bythe Finance Director, that such a combination is administratively more effective and/or financially prudent. J. In fiscalyear2006,the City issued a General Obligation Bond (GOB) forthe 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 202 1) to be applied to the Comprehensive Health Insurance Benefit Plan (Cafeteria Plan) as directed bythe employee. In January 2022, 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 fond called Investment Fund, and is considered an extension ofthe General Fund. The Investment Fund is funded with a 1/2 cent portion of 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, property tax relief, and pension obligations. M. The Oak Grove Cemetery (PF0048)Paull ect 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. Section4. The provisions of this Ordinance are hereby declared to be severable, and $any section, phrase orprovision shall forany 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 ATTEST: `Lipd'say Parish, City Clerk Introduced by the Board of Commissioners, June 8, 2021 Adopted by the Board of Commissioners, June 22, 2021 Recorded by Lindsay Parish, City Clerk, June 22, 2021 Published by The Paducah Sun, June 25, 2021 ORD\FINANCE\Budget FY2022 K\FlnancelBUOGET-HOME\Budget\Ordinance\FY2022\Ordinance original, July 1, 2021 to KRS Chapter 424. Run Date: 61312021 11:40 AM Total Expenditures $ 40,383,175 $ 11,471,575 $ 1,435,000 $ 3,640,640 $ 6,596,120 $ 7,496,740 $ 1,100,825 $ 72,124,075 Reserves Utilized $ (3,675,395) $ (292,765) $ - $ 4,370 $ (1,741,360) $ (880,825) $ (416,110) $ (7,002,085) KAF1nanca0UDGU - HOME Budget\Ordinance%FV202 %Ordinance original, July 1, 2021 Summary by Type City of Paducah Annual Operating Budget for All Funds and Categories of Government Estimated Appropriations & Expenditures F1 2022 (July 1, 2021 to June 30, 2022) Exhibit No. 1 General Special Capital Debt Enterprise Internal Trust Fund Revenues Projects Service Funds Service Funds Total Sources: Fines $ 83,500 $ 30,000 $ - $ - $ - $ - $ - $ 113,500 Grants 805,000 1,244,315 - 0 53,500 - - 2,102,815 Interest Income 140,000 126,100 - 4,500 20,000 15,000 100,050 405,650 Bond Proceeds - 0 - - - - - 0 Charges for Service 739,060 30,000 - - 4,618,520 5,342,545 0 10,730,125 Other Fees 54,800 - - - 0 - 1,000 55,800 Occupational License 25,703,500 6,000,000 - 654,560 - - - 32,358,060 Permits & Fees 578,000 - - - 5,000 - - 583,000 Property Rent 428,325 279,410 - 0 21,000 1,011,500 - 1,740,235 Property Taxes 7,558,500 - - - - - - 7,558,500 Recreation Fees 106,500 - - - - - - 106,500 Safes 21,300 - - - 85,000 25,000 260,000 391,300 Other Taxes 1,151,000 1,151,000 Total $ 36,218,485 $ 8,860,825 $ - $ 659,060 $ 4,803,020 $ 6,394,045 $ 361,050 $ 57,296,485 Fwd Transfers In $ 489,295 $ 2,317,985 $ 1,435,000 $ 2,985,950 $ 51,740 $ 221,870 $ 323,665 $ 7,825,505 Total Sources $ 36,707,780 $ 11,178,810 $ 1,435,000 $ 3,645,010 $ 4,854,760 $ 6,615915 $ 684,715 $ 65,121,990 Expenditures: Administration $ 2,030,365 $ - $ 400,000 $ - $ - $ - $ - $ 2,430,365 Finance 1,284,750 1,750,130 - 3,640,640 - 6,807,370 - 13,482,890 Information Technology 924,250 - - - - - - 924,250 Customer Experience 486,290 - - - - - - 486,290 Planning 752,905 - 395,000 - - - - 1,147,905 Police 11,852,260 90,800 - - - - - 11,943,060 Fire 10,076,500 - 110,000 - - - - 10,186,500 Public Works 4,649,010 1,402,000 200,000 - 6,104,240 619,370 - 12,974,620 Parks 3,507,865 - 330,000 - 132,765 - - 3,970,630 Cable Authority 85,945 - - - - - - 85,945 Ilarean Rights 17,030 - - - - - - 17,030 Engineering 1,693,485 - - - - - - 1,693,485 Human Resources 499,915 - - - - - - 499,915 Investment Fund - 1,041,480 - - - - - 1,041,480 E911 - 2,313,380 - - - - - 2,313,380 Solid Waste - - - - - - - 0 Pensions - - - - - - 1,100,825 1,100,825 Fund Transfers Out 2,522,605 4,873,785 - - 359,115 70,000 - 7,825,505 Total Expenditures $ 40,383,175 $ 11,471,575 $ 1,435,000 $ 3,640,640 $ 6,596,120 $ 7,496,740 $ 1,100,825 $ 72,124,075 Reserves Utilized $ (3,675,395) $ (292,765) $ - $ 4,370 $ (1,741,360) $ (880,825) $ (416,110) $ (7,002,085) KAF1nanca0UDGU - HOME Budget\Ordinance%FV202 %Ordinance original, July 1, 2021 Summary by Type