Submitted by: Ron Brooks
Submitting Department: Finance
Agenda Section: Action
Item Title:
title
Hyattsville Ordinance 2021-02: Fiscal Year 2022 Budget (ADOPTION)
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Suggested Action:
recommendation
I move that the Mayor and Council adopt Hyattsville Ordinance 2021-02, adopting an annual budget for fiscal Year 2022 (FY22) beginning July 1, 2021 through June 30, 2022, for the General Purpose; fixing the tax rates for the Fiscal Year beginning July1, 2021; authorizing collection of taxes herein levied; and appropriating funds for the Fiscal Year (SECOND READING & ADOPTION).
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Summary Background:
The FY22 budget process began internally in December 2020 with the initial staff meetings to determine budgetary requirements for FY22. The City’s Administrator’s Proposed FY22 budget was presented to the Mayor and Council on March 24, 2021. During the presentation, it was noted that the impact of the COVID-19 pandemic on the proposed budget is still uncertain and future budget modifications maybe needed.
A Public Hearing on the proposed Real Property Tax Rate was held on April 19, 2021, at which a rate of $0.63 per $100 of assessed value was adopted by the Council.
The 2022 Special Tax Report for the Special Obligation Bonds, University Town Center, and five (5) year forecast documents will be included in the Council packet of May 17 in accordance with Section C5-5 of the Hyattsville Charter and Code. Also Included is a report of budgeted positions to include the number of employees and Full-Time Equivalent (FTE) count for Fiscal Year 2022. A first reading of the budget was held on May 3, 2021 and the second reading of the budget is scheduled for May 17, 2021.
Next Steps:
Adoption of the FY22 Budget Ordinance
Fiscal Impact:
Total Budget All Funds: $33.8M
City Administrator Comments:
See summary background above
Community Engagement:
Per City Charter, upon adoption of an ordinance, a fair summary will be published in a newspaper of general circulation. In accordance with State law, the City previously published a notice pertaining to the real property tax rate. The budget and corresponding documents will be posted on the City’s website and information on the budget will be in a summer issue of the Hyattsville Reporter.
Strategic Goals:
Goal 2 - Ensure the Long-Term Economic Viability of the City
Legal Review Required?
N/A