LEGISLATIVE YEAR 2020
RESOLUTION: R-20-067
PURPOSE: Establishing the use of fund balance for tax rate
SPONSOR(S): Mayor Jim Donchess
COMMITTEE
ASSIGNMENT: Budget Review Committee
FISCAL NOTE: This resolution would apply $4,500,000 of unassigned general
fund balance to the FY21 tax rate. This amount is from fund
balance consisting of anticipated surplus in the FY20 operating
budget.
ANALYSIS
This resolution applies $4,500,000 of the unassigned general fund balance to the Calendar Year
2020 (Fiscal Year 2021) Tax Rate. With approval of this action, unassigned fund balance
remains at or above the five (5) percent minimum as recommended by Department of Revenue
Administration and the ten (10) percent as established by NRO §5-136, C.
Per NRO §5-135, B, in order to use unassigned general fund balance to reduce the tax rate, this
resolution must be approved on or before the board’s second meeting in September (September
22, 2020) “by 10 members of the Board of Aldermen.”
Approved as to account Financial Services Division
Structure, numbers, and
amount: By: /s/John Griffin
Approved as to form: Office of Corporation Counsel
By: Wyre Pe Vor Mee
Date: el ae C23-
