Title
AN ORDINANCE TO MAKE APPROPRIATIONS FOR THE CURRENT EXPENSES AND OTHER EXPENDITURES OF THE CITY OF HUDSON, COUNTY OF SUMMIT, STATE OF OHIO, DURING THE FISCAL YEAR BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016.
Executive Summary: This Ordinance establishes the City’s budget for 2016.
Body
Legislative History
None.
Purpose & Explanation
The total appropriations for 2016 are $72.3 million. This total includes approx. $8.8 million in transfers to other funds and $3.8 million in trust and agency funds (City acts solely in a fiduciary capacity). The General Fund transfers are appropriated in the General Fund and also appropriated in the receiving fund. Excluding fiduciary and General Fund transfers, appropriations for 2016 are $60 million, a 4.2% decrease over the 2015 budget.
As required, we split out personnel expenses from non-personnel. Personnel expenses include wages & salaries, pension, Medicare, insurance, workers comp and any other taxable benefit. The total budgeted personnel cost for 2016 is $18.3 million, a 3.5% increase over the 2015 personnel budget.
The Broadband Fund (510) was eliminated and combined with the General Fund (revised 12/11/2015).
Timing Considerations
The budget is required to be passed by year end.
Fiscal Impact
X Annual Appropriations
Recommendation
Suggested Action
Staff recommends approval of the 2015 appropriations.
Submitted by,
Jane Howington, City Manager
Jeff Knoblauch, Finance Director