The accompanying ordinance, upon passage, will authorize appropriations (expenditures) for the City of Brentwood for Fiscal Year 2020-2021.  The FY 2021 proposed budget was submitted to the City Commission on May 5, 2020, and was subject to detailed review at the budget work session held on May 14, 2020.

Projected revenues for next fiscal year total $40,730,700, while appropriated expenditures including the planned $5,000,000 fund balance transfer to the Capital Projects Fund will be $45,718,655, leaving a projected year end deficiency of ($4,987,955).  Note that this $5,000,000 transfer has been part of the City's long-term financial planning, and is earmarked for completion of the Police Headquarters project ($4,000,000) and the final payment on purchase of the Windy Hill Park property ($1,000,000). Excluding the $5,000,000 fund balance transfer, there is  $12,045 surplus of revenues over expenditures.

In addition, as outlined in the City Manager’s budget letter and discussed at the May 14 work session, funding for certain proposed projects and equipment purchases in the FY 2021 Capital Improvements Program will require a FY 2020 special year-end transfer totaling $3,740,000 from the General Fund to the Capital Projects Fund, $405,000 to the Equipment Replacement Fund, and $45,000 to Facilities Maintenance Fund, funded through current year excess revenue collections.  Another special FY 2020 year-end appropriation of $2,600,000 from the General Fund unassigned fund balance is necessary for the first installment to purchase Windy Hill Park.  When the year-end transfers are taken into account, the minimum unassigned fund balance in the General Fund as of June 30, 2020 is estimated at $39.4 million.

The ordinance providing for the proposed FY 2020 year-end special appropriation transfers, as well as other "clean up" budget amendments, will be presented to the City Commission for formal consideration on first reading at the June 8, 2020 meeting.

Please note that the allocation of $244,400 in education funding, the allocation of $102,000 in the Parks and Recreation Department budget to specific recreation service providers in the community, and allocation of $3,250 to Mid-Cumberland Human Resource Agency must be determined by the City Commission and approved by motion prior to approval of the FY 2021 Appropriations Ordinance on second and final reading at the June 22, 2020 Commission meeting. 

If the appropriations ordinance is approved on first reading, final reading of this ordinance will not occur until the June 22, 2020 Commission meeting.  However, a public hearing for this ordinance will be scheduled for the June 8, 2020 meeting.

Please contact the Finance Director or City Manager if you have any questions or need additional information.