The accompanying ordinance, upon passage, will authorize appropriations (expenditures) for the City of Brentwood for Fiscal Year 2022-2023.  The FY 2023 proposed budget was submitted to the City Commission on May 3, 2022, and was subject to detailed review at the budget work session held on May 12, 2022.

Projected General Fund revenues for next fiscal year total $47,845,650, while appropriated expenditures will be $47,835,805, leaving a projected year-end surplus equal to $9,845 of revenues over expenditures. 

In addition, as outlined in the City Manager’s budget letter and discussed at the May 12th work session, funding for certain proposed projects and equipment purchases in the FY 2023 Capital Improvements Program will require a FY 2022 special year-end transfer totaling $9,100,000 from the General Fund to the Capital Projects Fund, $785,000 to the Equipment Replacement Fund, and $195,000 to Facilities Maintenance Fund, funded through current year excess revenue collections.  When the year-end transfers are taken into account, the minimum unassigned fund balance in the General Fund as of June 30, 2022 is estimated at $46.1 million.

The ordinance providing for the proposed FY 2022 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 13, 2022 meeting.

Please note that the allocation of $244,400 in education funding, the allocation of $152,000 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 2022 Appropriations Ordinance on second and final reading at the June 27, 2022 Commission meeting. 

If the appropriations ordinance is approved on first reading, final reading of this ordinance will not occur until the June 27, 2022 Commission meeting.  However, a public hearing for this ordinance will be scheduled for the June 13, 2022 meeting.

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