On April 14, the City Manager and Financial Services Director presented the City Manager’s final budget recommendations for fiscal year 2014-2015 (FY ’15). At that meeting the City Council voted to approve the following:

1. The City Manager’s final budget recommendations for fiscal year 2014-2015 as presented by staff;

2. That a property tax rate increase of 4.37 cents, from $3.6163 to the statutory limit of $3.66 per $100 of assessed value, is included in the final budget for fiscal year 2014-2015; and

3. The five-year Capital Improvements Plan for fiscal year 2014-2015 through fiscal year 2018-2019.

Subsequent to the April 14th Council meeting, Councilman Smith requested that item #1 listed above be brought back for reconsideration and Councilman Schmitt requested that item #3 listed above be brought back for reconsideration. Item #2 above was not requested to be brought back for reconsideration. Today, the City Council is being asked to direct staff in preparing the City’s final budget document for submission to the State of Nevada, specifically as it relates to items #1 and #3 above.

To clarify item #1 above, the City Manager’s final budget recommendations include a proposed increase in the City’s garbage franchise fee from 5% to 8% as approved by Council at the February 25, 2014 budget workshop.

City staff has filed the tentative budget for FY ‘15, and City Council will receive public comment on the FY ‘15 tentative budget on Tuesday morning, May 20, 2014 at 9:00 am. On Tuesday, May 27, 2014, at the regularly scheduled City Council meeting, the City Manager and Financial Services Director will present the final budget document which will be prepared based upon direction received today. Presentation of the final budget document was originally scheduled to occur on May 20 (immediately following the public hearing on the tentative budget); however, due to Council scheduling conflicts, the final budget document is now scheduled to be presented on Tuesday, May 27.

In accordance with NRS 354.598, the final budget for the City and Redevelopment Agency must be filed with the Nevada Department of Taxation by June 1 annually. Per NRS 354.598(2), if a final budget is not adopted by June 1, the tentative budget will become the final budget by default. 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 hereto and incorporated into this agenda item is the City Manager’s Budget Recommendation book as well as the proposed five-year Capital Improvements Plan (CIP) that was presented at the April 14 Council meeting. The City Manager’s Recommendation book provides a synopsis of results and expectations of the City Manager’s budget recommendations for the various Funds maintained by the City of Sparks and the Sparks Redevelopment Agency for FY ‘15.

Recommended Motion #1: “I move to approve the City Manager’s final budget recommendations for fiscal year 2014-2015”.

Recommended Motion #2: “I move to approve the proposed five-year Capital Improvements Plan for fiscal year 2014-2015 through fiscal year 2018-2019”.