The Redevelopment Agency’s Chief Administrative Officer and Chief Financial Officer are presenting the Chief Administrative Officer’s final budget recommendations for fiscal year 2021-2022 (FY22).  The Agency Board is asked to direct the Chief Administrative Officer in preparing the Agency’s final budget document for submission to the State of Nevada.  City staff has filed the tentative budget for FY22 based upon direction received at the February 22, 2021 budget workshop and the March 22, 2021 Capital Improvement Plan workshop, and the Agency Board will hold a public hearing to receive public comment on the FY22 tentative budget at its regularly scheduled Agency meeting on May 24, 2021.  Immediately following the public hearing on the FY22 tentative budget, the Chief Administrative Officer and Chief Financial Officer will present for Agency approval the FY22 final budget, which will be prepared based upon direction received in response to this agenda item. 

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.  During years in which the Legislature is in session, should the Legislature take action that affects the City’s or Agency’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 and 2, providing an overview of the expectations for FY21 and budget recommendations for FY22. 

1. The Agency may approve the fiscal year 2021-2022 final budget recommendations presented today.
2. The Agency may reject the fiscal year 2021-2022 final budget recommendations and provide direction to the Chief Administrative Officer.

I move to approve the Chief Administrative Officer’s final budget recommendations for the City of Sparks Redevelopment Agency, Areas 1 and 2, for fiscal year 2021-2022.