DATE: May 3, 2019
TO: Board of Mayor and Aldermen
Budget & Finance Committee
FROM: Eric Stuckey, City Administrator
Kristine Brock, Assistant City Administrator for Finance and Administration
Michael Walters Young, Budget & Strategic Innovation Manager
SUBJECT:
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PUBLIC HEARING: Consideration of Resolution 2019-45, a Resolution Adopting the Estimate of Revenues and Expenditures for the Water and Sanitary Sewer Utility Fund for Fiscal Year 2019-2020, and providing an Effective Date. (05/09/19 Finance 3-0)
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the Water Management Budget for Fiscal Year 2019-2020.
Background
The Board of Mayor & Aldermen adopt a resolution approving an annual budget for the Fiscal Year ending on June 30, 2020 for the Water Management Department. This item is that resolution.
Financial Impact
This item will propose a Water Management Budget totaling $34.57 million in revenues and $30.60
In expenditures for Fiscal 2019-2020. The surplus is in the Wastewater potion of the fund designed to provide resources for completion of the Water Reclamation Plant project.
Recommendation
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Staff recommends approval of the budget resolution.