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City of Cottonwood FY 2014 Budget Wrap-up

City of Cottonwood FY 2014 Budget Wrap-up. June 26, 2013 @ 6:00 p.m. City Council Chambers 826 North Main Street Cottonwood, AZ. Items Currently Included. Cost Of Living Adjustment (COLA) – 1.7 % Longevity - $ 45,000 Merit program fully funded this fiscal year

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City of Cottonwood FY 2014 Budget Wrap-up

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  1. City of CottonwoodFY 2014 BudgetWrap-up June 26, 2013 @ 6:00 p.m. City Council Chambers 826 North Main Street Cottonwood, AZ

  2. Items Currently Included • Cost Of Living Adjustment (COLA) – 1.7% • Longevity - $45,000 • Merit program fully funded this fiscal year • No health insurance cost shift to employees • Undesignated Reserves - $100,000 • Council Contingency - $35,000 • Building Better Community Grants Program - $15,000

  3. Current Adjustment Noted • City Clerk - Travel & Training $1,000 • City Council • Office Supplies $150 • Public Relations $2,800 • Gardner Property -$450

  4. Pending Items Listings

  5. Personnel Requests – Not Budgeted

  6. Program Requests – Not Budgeted

  7. Capital Requests

  8. Capital Requests

  9. Capital Requests

  10. Capital Requests

  11. GF Reserves Before • 60 Days Coverage $2,268,830 • Capital Accumulation Fund $1,000,000 • Undesignated Reserves $100,000 • 1% Sales Tax GF Capital $324,750 • 0.2% Sales Tax PS Capital Fund $0 • Reserve for Capital / Programs $147,340 • Longevity Plan $45,000 • Total $3,885,920

  12. GF Reserves After • 60 Days Coverage $2,268,830 • Capital Accumulation Fund $1,000,000 • Undesignated Reserves $100,000 • 1% Sales Tax GF Capital $214,750 • 0.2% Sales Tax PS Capital Fund $0 • Reserve for Capital / Programs $340 • Longevity Plan $45,000 • Total $3,628,920

  13. Remaining Requests

  14. Things Being Worked On • Make changes to the Proposed Budget • Transmittal Letter & Narratives • 5-year M&O plan • 5-year Capital Improvments Program • Compile the budget document for tentative presentation • Continue checking and revising of estimates to ensure best possible estimates by tentative presentation

  15. Future Budget Meetings • Tentative Budget Hearing and Adoption is on July 9th at 6:00 p.m. at the Council Chambers • Final Budget Hearings and Adoption is on August 13th at 6:00 p.m. at the Council Chambers

  16. Questions

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