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Sparks City Council Meeting 5/26/2020 2:00:00 PM

Meeting Link: https://zoom.us/j/92302995013
Meeting Dial-in #: 1-669-900-6833 Meeting ID: 923 0299 5013

General Business: 9.11

Title: Consideration and possible adoption of the final budget for the City of Sparks for fiscal year 2020-2021.
Petitioner/Presenter: Neil C. Krutz, ICMA-CM, City Manager/Jeff Cronk, CPA, Chief Financial Officer
Recommendation: City Council adopt the final budget for fiscal year 2020-2021 (FY21) as directed by Council and prepared by staff.
Financial Impact: The attached Nevada Department of Taxation’s required document will establish the final budget for fiscal year 2020-2021 (FY21), and aligns with the City Manager’s recommendations presented to Council on April 27, 2020.
Business Impact (Per NRS 237):
A Business Impact Statement is not required. This is a rule but does not impose a direct and significant economic burden on a business, or directly restrict the formation, operation or exemption of a business.
Agenda Item Brief:

In accordance with NRS 354.598, the Council must adopt a FY21 Final budget for the City of Sparks on or before June 1, 2020.  The budget must be filed with the Department of Taxation in accordance with specific instructions for categorizing revenue and expenditures, and must be presented using prescribed filing forms and formats.  The Financial Services Department believes the attached document fully complies with those requirements as established by the Department of Taxation.


Approval of the attached final budget document establishes the fiscal year 2020-2021 budget for all the Funds that are utilized by the City.

The final budget, as presented today, is essentially identical to the City Manager’s Budget Recommendations presented to Council on April 27, 2020 with the exception of a few immaterial clean-up items discovered during the preparation of the final document.

The clean-up items did not change any fiscal policy outcomes from what was presented to Council on April 27, 2020.  FY20 estimated ending fund balance remains at 9.6% and the FY21 budgeted ending fund balance remains at 5.0%.

Within the attached budget document is a letter from the Chief Financial Officer titled “Budget Message” that is intended to provide an overview of the fiscal year 2020-2021 budget.  Included in this budget message is information concerning all Funds maintained by the City with emphasis placed upon the final budget outcomes within the General Fund.


Adjustment to the final budget, as adopted by Council by June 1, 2020, can be made to accommodate events during the fiscal year which may affect revenue and expenditure assumptions used in the formulation of the final budget.  If adjustments are necessary due to Legislative actions, an amended budget must be filed within 30 days after the close of the legislative session.


Council could approve the final fiscal year 2020-2021 budget, as presented.

Council could approve the budget with changes and provide direction to the City Manager.

Council could choose not to approve the presented budget and instead adopt by default the tentative budget.  Per NRS 354.598, Council must adopt a final budget for the City by June 1, 2020.  If Council does not adopt the final budget by that date, the tentative budget automatically becomes the budget for fiscal year 2020-2021.  If the budget is adopted by default, the Council may not reconsider the budget without express approval of the Department of Taxation.

Recommended Motion:

I move to adopt the final budget for the City of Sparks for fiscal year 2020-2021 as presented.

Attached Files:
     FY21 Final Budget - City.pdf

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