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Finance Department

City Hall, 3rd floor
414 E. 12th St.
Kansas City, MO 64106
816-513-1173 (p)
816-513-1174 (f)
finance@kcmo.org

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Finance
City of Kansas City, MO.

Happy New (Fiscal) Year: A last look at FY 2017 – and Peeking Ahead

Happy New (Fiscal) Year: A last look at FY 2017 – and peeking ahead

Scott Huizenga, Budget Officer discusses peeking ahead after the City’s adoption of Fiscal Year 2017-18 Budget.

Happy new year! The City’s Fiscal Year 2016-17 ended on April 30. The Finance Department will spend the next several months on the Comprehensive Financial Annual Report (CAFR), otherwise known as “the audit.” While we will not know the official results of 2017 for several months, the Budget Office’s Third Quarter Budget Report and presentation provided some insight.

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The Third Quarter Report projected a General Fund surplus of nearly $3.3 million. One of the big reasons for this good news is the City’s Earnings Tax (E-Tax). The 1 percent tax on wages and profits is projected to increase by $18 million per year in the last three years. The Earnings Tax is the largest non-utility revenue source for the City. So, even small changes in the rate of growth can have large impacts to the City’s bottom line.

The recent good news forecast continues several years of growth in the City’s reserve levels. The City’s fund balance policy mandates at least a reserve level of two months of operating expenditures. The City’s reserves have climbed over 200 percent since the Great Recession. The projected reserve level may top $70 million by the end of next year – up from $27.5 million 10 years ago.

More good news for City revenue is in the City’s hotel/motel tax and restaurant tax collections. They say people are eating out and traveling more than ever before. And, revenue collections appear to bear that out. Combined revenues from these activities and city conventions net projected surplus of $3.5 million to the City’s conventions and tourism fund.

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Moving forward, a new fiscal year means the start of a new planning and budget cycle. Each year, the Citywide Business Plan sets the agenda for the annual budget to follow. The City will begin this year by reviewing trends from the prior fiscal year. At three Council Business Sessions in May and June, the full City Council will hear a year-end review of the city’s finances, citizen satisfaction, and performance. On May 25, Finance Department staff will give the City Council some context for the City’s financial position and how the City is achieving its financial strategic objectives contained in the Citywide Business Plan. Then, on June 8, the Office of Performance Management will present the 2016-17 Citizen Survey results. The Citizen Survey is one of the main tools the City uses to prioritize programs and services for the next business plan and the annual budget. Finally, on June 15, the Office of Performance Management will provide a year-end summary of KCStat and how the program relates to the city’s broader goals and objectives.

Contrary to popular belief, the end of “budget season” does not constitute down time for the Budget Office and the rest of the Finance Department. When one budget ends, the next almost immediately follows. We start with review and planning. The next budget will be here before we know it.

Know where to go when you hear ‘snow’

When wintry weather hits, Public Works constantly updates the kcmo.gov/snow page with preparation plans and weather details. On the snow page, you can also get preparedness tips, learn about the snow removal process, find emergency snow routes and check out answers to frequently asked questions.

Compliment a KCMO employee!

City employees are always striving to make our City better and we want to recognize the good work that they do. Share a positive experience with a KCMO employee and let them know you appreciate a job well done. It only takes a few minutes to really make someone’s day with your kind words.

Ten ways to contact 311 and more

311 is the place to request City services or report a problem with City services. There are ten ways you can get in touch with 311, including by email, phone, online form and phone app. The 311 page also details what do have ready when you contact, how to check on the status of your 311 case and more.

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UPCOMING EVENTS

Please see the City Clerk's website for upcoming City meetings and agendas.

Feb. 23 - Public budget meeting
Feb. 27 - African American Heritage Trail meeting
March 2 - Public budget meeting
March 5 - KCStat

Other calendars: Parks | Events

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