2014 2:00:00 PM

Monday, April 28, 2014 2:00 PM
Council Chambers, Legislative Bldg, 745 4th St., Sparks, NV

Item Number: 6

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 2014-2015. [For Possible Action]

Petitioner/Presenter: Stephen W. Driscoll, ICMA-CM, 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 2014-2015 final budget.

Financial Impact: Recommending the Agency’s final budget for Fiscal Year 2014-2015.

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 2014-2015 final 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 2014-2015 (FY ’15). 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 FY ‘15, and the Agency Board will receive public comment on the FY ‘15 tentative budget on Tuesday morning, May 20, 2014 at 9:00 am. On May 27, 2014, the Chief Administrative Officer and Chief Financial Officer will then present the final budget which will be prepared based upon direction received today. 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. Attached to this agenda are summary financial information for the Redevelopment Agency Areas 1 & 2, providing an overview of the expectations and recommendations for FY ‘15.

Analysis: See Above.

Alternatives: Agency members could also choose alternatives other than those presented today, and direct staff to prepare a final budget for fiscal year 2014-2015.

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 2014-2015.”

Attached Files:

City of Sparks Redevelopment Agency FY '15 Final Budget Recommendations_4-28-14.pdf

Previous Item

Next Item

Return To Meeting