2013 2:00:00 PM

Monday, April 22, 2013 2:00 PM
City Council Chambers, Legislative Building, 745 Fourth St, Sparks, NV

Item Number: 5

Title: Consideration, discussion, and possible approval of the Chief Administration Officer’s final budget recommendations for the City of Sparks Redevelopment Agency, Areas 1 & 2, for fiscal year 2013-2014.

Petitioner/Presenter: Shaun Carey, Chief Administrative Officer/Jeff Cronk, CPA, Chief Financial Officer

Recommendation: That the Agency Board approve the Chief Administrative Officer’s recommendations for the fiscal year 2013-2014 final budget.

Financial Impact: Establishing the Agency’s budget for Fiscal Year 2013-2014.

Business Impact (Per NRS 237):
A Business Impact Statement is not required because this is not a rule.

Agenda Item Brief: This agenda item provides the Agency’s Board with the Chief Administrative Officer’s recommendations for the fiscal year 2013-2014 budget for the City of Sparks Redevelopment Agency, Areas 1 & 2.

Background: The Agency’s Chief Administrative Officer and Chief Financial Officer are presenting the Chief Administrative Officer’s final budget recommendations for fiscal year 2013-2014. Today, the Agency Board is asked to direct staff in preparing the Agency’s final budget document for submission to the State of Nevada. City staff has filed the tentative budget for the fiscal year 2013-2014, and the Agency Board will receive public comment on the fiscal year 2013-2014 tentative budget on Tuesday morning, May 21, 2013 at 9:00 am. Immediately following the public hearing on the 2013-2014 tentative budget at 9:00 am, the Chief Administrative Officer and Chief Financial Officer will then present the final budget which will be prepared based upon direction received today. The final budget must be filed with the Nevada Department of Taxation by June 1 annually. During years in which the Legislature is in session, should the Legislature take action which affects the City’s budget for the subsequent fiscal year, an additional 30 days would be granted to file an amended budget if necessary with the Nevada Department of Taxation. Attached to this agenda are summary financial information for the Redevelopment Agency Areas 1 & 2, providing an overview of the expectations and recommendations for fiscal year 2013-2014.

Analysis:

Alternatives: Agency members could also choose alternatives other than those presented today, and direct staff to prepare a final budget for fiscal year 2013-2014.

Recommended Motion: I move to approve the Chief Administrative Officer’s recommendations for the City of Sparks Redevelopment Agency, Areas 1 & 2, final budget for fiscal year 2013-2014.

Attached Files:

Redevelopment Agency Recommended Budget_4-22-13.pdf

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