Prudent financial decisions and conservative forecasting methods strengthen city’s financial position
The Glendale City Council has approved a fiscal year 2020-21 balanced budget of $747 million. Glendale’s budget is prepared each fiscal year, which begins July 1 and ends June 30.
The fiscal year 2020-21 budget includes an operating budget of $444 million, a capital improvement budget of $175 million, a debt service budget of $87 million, and a contingency appropriation of $41 million. The total revenue budget is $668 million. This is the fifth year in a row the city has not increased its primary property tax rate.
General Fund revenues, which are primarily used for general government operations, are projected to be $241 million. The appropriation for the General Fund budget is $230 million. Police and Fire Departments represent the largest operating budgets within the General Fund, with expenditures totaling $151 million. The next largest share of General Fund expenditures is the Public Facilities, Parks, Recreation and Special Events Department at $15 million. Total General Fund appropriations also include $2 million in contingency, which can be used for unforeseen expenditures or unexpected revenue shortfalls which may occur during the budget year.
“I’m very proud of this budget which continues the momentum we’ve been building up over the past several years,” said Glendale City Manager Kevin Phelps. “Even during the pandemic, we provided a high level of service to our residents, which was partly due to the continued growth in new business development.” Glendale has made a priority of focusing on economic development, particularly on the west side of the city, near Loop 303.
“The coronavirus has presented unprecedented financial circumstances, but as a result of fiscally conservative policies established by the City Council, we are able to meet all of our contractual obligations and add critical positions and programs,” said Budget and Finance Director Lissette Camacho. “We expect to attain an unassigned General Fund reserve balance of approximately $50 million as we enter the new fiscal year.”
The budget also introduces a $1.2 billion 10-year Capital Improvement Plan, with the first year coming in at $175 million.
Notable projects in the first year of the Capital Improvement Plan include:
- Pavement management at $10.2 million
- O’Neil Park splash pad construction at $1.3 million
- Public Safety building remodels at $7.7 million
- Construction of Glendale Avenue at $13 million
- Construction of Camelback Road at $3 million