Submitted by: Ron Brooks
Submitting Department: Finance
Agenda Section: Action
Item Title:
title
Hyattsville Ordinance 2021-02: Fiscal Year 2022 Budget (Introduction)
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Suggested Action:
recommendation
I move the Mayor and Council introduce Hyattsville Ordinance 2021-02, an ordinance adopting an annual budget for the Fiscal Year July 1, 2021 through June 30, 2022, for the general purpose, fixing the tax rates for the Fiscal Year beginning July 1, 2021; authorizing collection of taxes herein levied, and appropriating funds for the fiscal year (INTRODUCTION AND FIRST READING).
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Summary Background:
The FY22 budget process began internally in December 2020 with 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.
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. A second reading of the budget is scheduled for May 17, 2021.
Next Steps:
Second Reading Adoption of the FY22 Budget Ordinance is scheduled for May 17, 2021.
Fiscal Impact:
See budget document.
City Administrator Comments:
See summary background above.
Community Engagement:
Per the City Charter, a fair summary of the budget ordinance will be published twice in a newspaper of general circulation. The budget and corresponding documents will be posted on the City’s website and information on the budget will be included 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