City of Cottonwood FY 2014 Budget Wrap-up June 26, 6:00 p.m. City Council Chambers 826 North Main Street Cottonwood, AZ

Items Currently Included Cost Of Living Adjustment (COLA) – 1.7% Longevity - $45,000 Merit program fully funded this fiscal year No health insurance cost shift to employees Undesignated Reserves - $100,000 Council Contingency - $35,000 Building Better Community Grants Program - $15,000

Current Adjustment Noted City Clerk - Travel & Training$1,000 City Council – Office Supplies $150 – Public Relations $2,800 – Gardner Property -$450

Pending Items Listings

Personnel Requests – Not Budgeted

Program Requests – Not Budgeted

Capital Requests

GF Reserves Before 60 Days Coverage$2,268,830 Capital Accumulation Fund$1,000,000 Undesignated Reserves $100,000 1% Sales Tax GF Capital $324, % Sales Tax PS Capital Fund $0 Reserve for Capital / Programs $147,340 Longevity Plan $45,000 Total$3,885,920

GF Reserves After 60 Days Coverage$2,268,830 Capital Accumulation Fund$1,000,000 Undesignated Reserves $100,000 1% Sales Tax GF Capital $214, % Sales Tax PS Capital Fund $0 Reserve for Capital / Programs $340 Longevity Plan $45,000 Total$3,628,920

Remaining Requests

Things Being Worked On Make changes to the Proposed Budget Transmittal Letter & Narratives 5-year M&O plan 5-year Capital Improvments Program Compile the budget document for tentative presentation Continue checking and revising of estimates to ensure best possible estimates by tentative presentation

Future Budget Meetings Tentative Budget Hearing and Adoption is on July 9 th at 6:00 p.m. at the Council Chambers Final Budget Hearings and Adoption is on August 13 th at 6:00 p.m. at the Council Chambers

Questions