HomeMy WebLinkAbout11/06/2019 7A AGENDA BILL ��
CITY OF BREMERTON
CITY COUNCIL
Revised...
SUBJECT: Study Session Date: October 23, 2019
Public Hearing on Revenue Sources for the COUNCIL MEETING Date: November 6, 2019
Proposed FY-2020 City of Bremerton Budget Department: Financial Services
Presenter: Mike Riley and
Caroline Tompson
Phone: (360) 473-5303
SUMMARY: Tonight's public hearing is to take comments on the revenue sources for the 2020
Proposed Budget. The proposed budget anticipates property levy increases of the full 1% allowed by
law. The EMS levy is being set at .50 cents per$1000 of Assessed Valuation in anticipation of
pending ballot measure. Utility tax rates remain unchanged. The proposed budget also adjusts for
the annual $20,000 increase to the B&O tax exemption rate, incorporates utility rate increases and
includes interfund transfers between funds where appropriate. Overall, the revenue projections
throughout all funds remain conservative.
ATTACHMENTS:
The 2020 Proposed Budget may be found on the City's website at www.bremertonwa.gov.
FISCAL IMPACTS (Include Budgeted Amount):
Total proposed general fund revenue, without beginning fund balance, is $45,983,662.
With beginning fund balance, total general fund revenue is $57,086,629.
Total proposed revenue city wide, without beginning fund balance, is $128,794,880.
With beginning fund balance, total revenue city wide is $180,931,353.
STUDY SESSION AGENDA: o Limited Presentation ❑ Full Presentation
STUDY SESSION ACTION: ❑ Consent Agenda ❑ General Business o Public Hearing
RECOMMENDED MOTION:
Open Hearing for Public Comment
COUNCIL ACTION: _M Approve [' Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 01/02/2018