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Home My WebLink About2022-06-8740 (FY23 Budget)ORDINANCE NO. 2022-06-8740 AN ORDINANCE ADOPTING THE CITY OF PADUCAH, KENTUCKY, ANNUAL OPERATING BUDGET FOR THE FISCAL YEAR JULY 1, 2022, THROUGH JUNE 30, 2023, 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 2023. 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, 2022 and ending June 30, 2023, 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, 2022 and ending June 30, 2023. 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% of the Investment Fund's budgeted appropriations. The Solid Waste Fund's minimum unreserved cash balance shall be 10% of the Solid Waste's budgeted operating expenses. The Debt Service Fund's minimum cash balance shall be not less than $600,000. 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, 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 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 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 department 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. 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. J. The City will provide to all eligible employees up to a $727 per month credit (for the months of July - December 2022) to be applied to the Comprehensive Health Insurance Benefit Plan (Cafeteria Plan) as directed by the employee. In January 2023, this monthly credit may be adjusted by the Board of Commissioners as recommended by the City Manager or his designee. K. The City will maintain a special fund called Investment Fund, and is considered an extension of the 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. L. The Oak Grove Cemetery (PF0048) project will be funded in the following manner: 20% of all cemetery lot sales, and 20% 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 s arate days and will become effective upon publication in full pursuant to KRS Chapter 42+./ A OMAN ATTEST: Lindsay Pari ty Clerk Introduced by the Board of Commissioners, May 24, 2022 Adopted by the Board of Commissioners, June 14, 2022 Recorded by Lindsay Parish, City Clerk, June 14, 2022 Published by The Paducah Sun, June 16, 2022 ORD\FINANCE\Budget FY2023 ORD\CITY CLERK\ORD\FIN\Budget FY2023 Ordinance Total Espmdidues $ 43,276,785 S 32,210,470 S 1,760,000 S 1555,320 S 7,065,±OS S 7,850,819 S 1,030,975 S 96,749,577 Rxserees IIlilirad S (2,534,215) S (19.668,470) S - S 9,000 S (2,136,573) S (933,774) $ (386,425) S (25,6+0,457) City of Paducah Amml Operating Budget for AB Fmds and Categories of Government Estimated Appropriations &Expenditures FY2023 (July 1, 2022 b Jane 30, 2023) Exhibit No.l General Special Capital Debt Enterprise lnterml Trnst Farad Rennes Projects Service Fmds Service Fmds Total Sources: Fines S 98,500 S 30,000 S - S - S - S - $ - $ 128,500 Grmts 1,160,000 926,110 - 0 55,000 - _ 2,141,110 Iwemtlncome 150,000 116,400 - 9,000 20,000 33,000 120,050 448,450 Boad Proceeds _ 0 _ _ _ _ Charges fof Service 791,280 35,000 - - 4,659,100 5,427,730 0 10,903,110 Other Fees 67,000 - 25,000 - 0 - 500 92,500 Occupational license 28,956,000 7,640,000 - 655,305 _ _ _ 37251,305 Pesmifs&Fees 586,000 - - - 1500 - - 591,500 PcopedyRent 439,090 295,570 - 0 36,000 1,073,715 - 1,844,375 Property Taxes 7,882,500 _ _ _ _ _ _ 7,882,500 Retreat Fees 83,000 _ _ _ _ _ _ 83,000 Sales 23.500 _ _ _ 115,000 25,500 264,000 428,000 Odw Taves - 1,144,000 - 1,144,000 Total S 40,2-16,870 S 10,187,080 S 25,000 S 664,305 $ 4.99000 S 6,559,945 $ 384,550 $ 62,938,350 Fund Tmm&rs In S 515,700 S 2,354,920 S 1,735,000 S 2,900,015 S 38,035 $ 357,100 $ 260.000 $ 8,160.770 Total Sources S 40,742,570 S 12,:12,000 S 1,760,000 S 3,564,320 S 4y2&635 S 6,917,045 $ 644,530 S 71,099,120 E.pendimres: Admims6mion S 2130,145 S - S 555,000 S - $ - S - $ - S 2,685,145 Fimnce 1,316,613 5,122,600 - 3,555,320 - 6,96&155 - 16,962,688 Inf motion Technology 1244,749 - _ _ _ _ _ 1,244,749 Cnst9merEapemace 454,898 - -- - _ - 454,898 Planning 512,771 - 280,000 _ _ _ _ 1,092,771 Police 13,020,856 90,800 8,000 - _ _ _ 13,136,656 Five 10,724,895 - 135,000 - - - - 10,859,895 Public Rrods 4,804,248 1,601,280 580,000 - 6,503,191 806,964 - 16,295,663 Pads 3,740,805 - 40,000 - 164,557 - - 3,945,362 Cable Auft ity 85,370 - - _ _ _ _ 85,370 Human Rights 16,971 - - - _ _ _ 16,971 Evyneering 1,742,706 -I45,000 - 1,887,706 HumanResom<es 529,598 - - _ _ _ - 529,598 lnvestmevtFmd - 1,030,730 - - _ _ _ 1,030,730 E911 - 2,429,610 - - _ _ _ 2,429,610 Solid Waste _ _ _ _ _ _ _ 0 Pensions - - _ - - - 1,030,975 1,030,975 Fund Trzvwfm Out 2,652,160 21,935,450 - - 397,460 75,700 - 8,060,770 Total Espmdidues $ 43,276,785 S 32,210,470 S 1,760,000 S 1555,320 S 7,065,±OS S 7,850,819 S 1,030,975 S 96,749,577 Rxserees IIlilirad S (2,534,215) S (19.668,470) S - S 9,000 S (2,136,573) S (933,774) $ (386,425) S (25,6+0,457)