Sparks City Hall, Legislative Bldg, Council Chambers, 745 4th St., Sparks
General Business: 6.6
Approval of the attached final budget document establishes the fiscal year 2014-2015 budget for all the Funds that are utilized by the City. The final budget, as presented today, is virtually identical to the Tentative Budget with the exception of a few immaterial clean-up items caught in the preparation of the final document. The attached budget document also reflects the budget authority for capital improvement activities according to the City’s Capital Improvement Plan (CIP) as approved by Council on April 14 and April 28, 2014. Within the attached budget document is a letter from the Financial Services Director titled “Budget Message” that is intended to provide an overview of the fiscal year 2014-2015 budget. Included in this budget message is information concerning all Funds maintained the City with emphasis placed upon the final budget outcomes within the General Fund.
Alternatives: Council could choose to approve the Final budget, as presented today, for fiscal year 2014-2015. Council could request changes be made and approve the budget with changes. 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 before June 1, 2014. If Council does not adopt the final budget by that date, the tentative budget automatically becomes the budget for fiscal year 2014-2015. If the budget is adopted by default, the Council may not reconsider the budget without express approval of the Department of Taxation. Adjustment to the final budget, as adopted by Council by June 1, 2014, 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.
Recommended Motion: I move to adopt the final budget for the City of Sparks, as presented today, for fiscal year 2014-2015.
FY15 FINAL Budget - City.pdf