Through the Budget Chronicles webpage, citizens have the opportunity to be a part of an open, transparent process that will help shape the upcoming fiscal year for the City of Fayetteville and the services provided to citizens. On this page is an informative FAQ section, presentations from Council's budget meetings and links to past presentations from the FY2013-2014, FY2014-2015 and FY2015-2016 budget processes.
The budget process begins and ends with the City's Strategic Plan, which is a roadmap employed by many local governments to guide the use of money, personnel and resources to realize a shared vision of the future. The Budget and Evaluation Office coordinates the annual budget development process.
The City invites you to participate via the webpage as we forge ahead into the next year.
Frequently Asked Questions
- Approximately $1.37 million per penny was projected for the General Fund for FY 2015. The current general tax rate is 48.6 cents per $100 of valuation.
- No, they do not. For example, general property tax revenues for FY2015 were budgeted at $67,614,275. The original budgets for the Police and Fire Departments were $75,136,034, well over the property tax revenues
The money comes from a variety of sources, with the most, 36%, in ad valorem taxes (property taxes).
The remainder is:
Other Taxes 1% Fund Balance 2% Intergovernmental 33% Interfund Transfers and Charges 13% Functional Revenues 12% Other Revenues and Financing Sources 3% 64%
According to revenue projections across all funds for the adopted FY 2015 budget.
Most of the money goes to personnel, including payroll, healthcare, and other employee related functions.
Police 27% Fire & Emergency Management 13% Engineering & Infrastructure 10% Parks, Recreation & Maintenance 8% Environmental Services 6% Debt Service 4% Transit 4% Annexation Revenue Reimbursement & Sewer Funding Agreements 4% Information Technology 3% Airport 2% Development Services 2% County Parks & Recreation 2% Other Support & Service Departments 15% 100%
According to the original FY2015 adopted budget across all funds.
- Yes. The City's Comprehensive Annual Financial Report (CAFR) is prepared by the Finance Department and has received the Government Finance Officers Association's Certificate of Achievement for Excellence in Financial Reporting for the past eight fiscal years. The City undergoes an independent audit of its financial processes and procedures each year and has received unqualified "clean" opinions, which represents the highest level of assurance.
- The City develops a Capital Improvement Plan, or CIP, which is a five-year work list for planned capital projects that have a minimum cost of $50,000.The City also develops a separate five-year Technology Improvement Plan, or TIP, which is a five-year work list for planned information technology projects that have a minimum cost of $25,000 or have impacts across the organization. The CIP and ITP are key components of disciplined financial planning and budgeting processes as viewed by bond rating agencies, financial institutions and citizens. Our CIP and ITP are prioritized by Strategic Plan initiatives; operational mandates or safety considerations; maintenance of existing facilities, infrastructure and technology; funding from other sources (i.e. grants); efficiency enhancements; and service enhancements and quality of life. Projects are generally for infrastructure and facilities, significant maintenance plus major technology and software projects and upgrades. As the City regularly re-evaluates its needs, the CIP and ITP are updated, as well. As critical needs are planned, there is also the opportunity to plan for funding sources.