LEGISLATIVE YEAR 2021
RESOLUTION: R-21-163
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 $4,000,000 of unassigned general
fund balance to the FY22 tax rate. This amount is from fund
balance consisting of anticipated surplus in the FY21 operating
budget.
ANALYSIS
This resolution applies $4,000,000 of the unassigned general fund balance to the Calendar Year
2021 (Fiscal Year 2022) Tax Rate. With approval of this action, unassigned fund balance
remains at or above the five percent (5%) minimum as recommended by Department of Revenue
Administration and the ten percent (10%) 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
28, 2021) “by 10 members of the Board of Aldermen.”
Approved as to account Financial Services Division
Structure, numbers, and
amount: By: /s/ David G. Fredette
Approved as to form: Office of Corporation Counsel
By: Vopr Qe, Chobe
Date: >) Maat IDO
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