The Creve Coeur City Council is currently reviewing the proposed budget for Fiscal Year 2019 [FY19], which begins July 1, 2018.
In developing the annual budget, city staff have said they relied on a variety of planning documents, including the Comprehensive Plan 2030, the five-year Capital Improvement Plan, and the FY2018-2020 Strategic Plan.
According to city officials, Creve Coeur’s general fund relies heavily on intergovernmental revenues, including sales tax [44 percent of revenues] and utility licenses [38 percent of revenues]. Those revenue sources essentially have been flat for several years.
FY19 general fund revenues are projected to increase 0.47 percent from FY18. Operating expenditures are projected to increase 2.29 percent from FY18 to $15,367,745.
“The proposed budget includes measures to reduce our costs and increase revenues,” said City Administrator Mark Perkins. “However, additional actions will need to be taken going forward to ensure the city’s financial outlook remains strong.”
Cost reduction measures include the elimination of three full-time positions. In addition, an increase of 0.5 to 1.0 percent in the city’s utility tax rate is under consideration. The current residential electric rate is 5.5 percent [lowered from 7 percent in 2013], with gas, water and telephone utility rates at 7 percent.