At its April 2nd meeting, the Dublin City Council was invited to provide direction to city staff on the preliminary budget supplement for 2019-2020. This is the second fiscal year of the city’s biennial budget, originally adopted in May 2018. The final budget adoption is scheduled for May 21. Overall, revenues are projected to increase over the prior year by approximately $2.3 million, while expenditures increase by $944,946 in the General Fund. General Fund reserves are projected to total $143.4 million, an increase of $10.1 million over the prior year.
The major driver of the increased revenue, property tax, has been adjusted upwards to reflect an additional $3 million due to higher than expected growth in assessed values. Sales tax revenue is projected to decrease by 3%, or $664,318. Community Benefit Payments for specific development activity have been reduced by 69%, or $441,000.
Services and supplies costs are set to go up by $340,765 due to the increased cost of liability insurance for police. The utilities cost will decrease by $402,824, since the lease with Chevron for the city’s solar system has been paid off. Contracted Services are to increase by $1.3 million with the addition of two new police officers in January 2020, as well as annual salary and benefit increases for police and fire personnel.
Colleen Tribby, Director of Administrative Services, told the council that the staff report focuses on the General Fund because no major budgetary changes occurred in other funds. She said the proposed budget update basically maintains the city’s level of services.