19 - Budget Presentation FY 2020-2021

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fiscal year, the estimated amount for the current fiscal year, and the proposed amount for the ensuing fiscal year. " In light of the Budget Message 44, the Proposed FY20/21 Budget will show the Proposed FY20/21 Budget, the Budget for FY 19/20 (the City of Paris is currently within the FY 19/20, therefore Actual Yearend Values are not yet available), the Actual FY 18/19 Values, as well as the Actual Values for several previous Fiscal Years. Please see Exhibit A. City of Paris Charter — Article V — Section 47 "The City Manager, in the preparation of the budget, shall, in parallel columns opposite the various items of expenditures, place the actual amount of such items of expenditures for the last completed fiscal year, the estimate for the current fiscal year and the proposed amount for the ensuing fiscal year. " In light of the Budget Message 44, the Proposed FY20/21 Budget will show the Proposed FY20/21 Budget, the Budget for FY 19/20 (the City of Paris is currently within the FY 19/20, therefore Actual Yearend Values are not yet available), the Actual FY 18/19 Values, as well as the Actual Values for several previous Fiscal Years. Please see Exhibit B. City of Paris Charter — Article V — Section 58 "Provision shall be made in the annual budget and in the appropriation ordinance for a contingent appropriation in an amount not more than three (3) percent of the total general fund expenditure, to be used in case of unforeseen items of expenditures. Such contingent appropriation shall be under the control of the City Manager and distributed by him, after approval by the City Council. [ ...]" The total General Fund Expenditure in the Proposed FY20/21 Budget is $24,443,660.00. Three Percent (3%) of this would be $733,310.00. The Proposed FY20/21 Budget has a listed contingency of $50,000.00 found under 01-0000-91-00. This has been the amount used for several years. City of Paris Charter — Article V — Section 59 "The total estimated expenditures of the general fund and debt service fund shall not exceed the total estimated resources of each fund (prospective income plus cash on hand). [ ...]" As has been shown in the above Memorandum, the Proposed FY20/21 General Fund is balanced where Expenditure is equal to Revenue. In addition, the Proposed FY20/21 Budget shows a slight net positive in each of the Debt Service Funds in order to meet our debt obligations. Conclusion The Proposed FY20/21 Budget is a true reflection of the Financial Policy stated on p.4. Through the hard work of many City Staff, the budget has been completely re-examined and realigned so that our most basic of services are properly accounted for, excess funding has been captured and re -directed to further the services we seek to provide, and the priorities listed in the Budget Message have been funded while keeping a careful eye on the impact to the taxpayer. We are very pleased to present this Proposed FY20/21 Budget to the City Council and we look forward to an opportunity to discuss it further. Page 15 of 15