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The original item was published from 7/28/2023 12:06:09 PM to 8/16/2023 12:00:02 AM.

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Public Notices

Posted on: August 2, 2023

[ARCHIVED] CITY OF PAPILLION NOTICE OF PUBLIC HEARING

NOTICE OF PUBLIC HEARING

Notice is hereby given that the Papillion City Council will hold a public hearing on the 15th day of August 2023 at 7:00 PM at City Hall, 122 East Third St, Papillion. The purpose of the hearing is to consider a $1,000,307 net increase to the current expenditures and a $1,510,489 increase to revenues to the City’s 2022/2023 budget. The amendment increases the necessary ending cash reserve by $510,182, which is primarily a result of the most recent annexation of three Sanitary Improvement Districts revenues being greater than the bond and interest payments to be paid prior to September 30, 2023, and therefore creating future cashflow within the Bond Fund. The expenditure amount allows for the payment of expenses including debt payments which will occur prior to the fiscal year end, including amounts incurred by the SID and not paid prior to the merger of their finances with the City. Also included is the carryover of the special service bus purchase from last fiscal year.

Current Adopted Budget, Adopted May 16, 2023
2020-2021 Actual Disbursements & Transfers                                     $        159,275,948.00
2021-2022 Actual/Estimated Disbursements & Transfers                   $          78,322,362.00
2022-2023 Proposed Budget of Disbursements & Transfers               $         122,625,529.00
2022-2023 Necessary Cash Reserve                                                      $        170,632,495.00
2022-2023 Total Resources Available                                                   $        293,258,024.00
Total 2022-2023 Personal & Real Property Tax Requirement            $            13,715,732.67
Unused Budget Authority Created for Next Year                              $             1,439,221.86

Breakdown of Property Tax:
Personal and Real Property Tax Required for Non-Bond Purposes  $          10,570,215.00
Personal and Real Property Tax Required for Bonds                         $            3,282,675.00

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