SPRINGFIELD, Mo. – At its March 5 Council Lunch Workshop, City Council opened discussions on how to allocate $2.8 million of a total of $4.8 million in carryover funds from the Fiscal Year (FY)2017 and FY2018 budgets, as well as heard from Finance Director David Holtmann.
The City had carryover funds of $700,000 from FY2016 that were held over to cover an expected revenue shortfall in FY2017, $1.7 million in additional tax revenues coming in above the City’s budgeted projection in FY2017. The remaining $2.4 million in carryover funds from FY2018 is the result of City staff acting as good stewards of City resources, resulting in $600,000 in expenditure savings. Tax revenues in FY2018 exceeded budget projections by $1.8 million, according to Holtmann.
City Manager Jason Gage requested proposals from all City departments to determine how to allocate the funds, receiving 54 requests totaling about $18 million. A proposed plan outlines spending $2.8 million and holding $2 million in reserve.
The bulk of the proposed allocation of the funds ($1,472,500) will go toward facility repairs and replacement to aging City structures. An additional $532,000 allocated to Building Development Services for operational costs addressing chronic nuisance properties that are having a negative impact on Springfield’s neighborhoods and $500,000 for phase 2 of an enterprise software system.
To read the full discussion, click here.