Budget and Financial Records

Review the 2010-2011 Budget_______

August 10: Mayor Presents Fund Balance to City Council

The City's fund balance, a one-time source of money, was appropriated by a $2.8 million budget amendment passed by the Tulsa City Council in June and is now depleted with certain services that were left unfunded.

Finance officials now know that $1.9 million is available in the fund balance that was set aside for certain services such as: the elimination of four furlough days for city employees; restoration of highway lighting and fire department salaries; reactivation of two police helicopters; and materials for street pothole repair and salt, sand, and overtime costs for winter storm response.

Items left underfunded include street pothole repair and salt, sand and overtime costs for winter storm response. Mayor Bartlett will work with the council to make sure each budget item is restored and paid for.

Most recently, the City of Tulsa has an excess of $1.3 million from being above budget estimates with sales tax receipts received by the State of Oklahoma. The mayor urged a conservative and cautious approach to our budget situation as $18.2 million of one-time revenue sources, grants and other unaddressed costs will have to be replaced in the upcoming fiscal year. Listen to ten minutes of the presentation by Mayor Bartlett online.

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Financial Reports

Balancing the budget at the City of Tulsa is not much different than balancing a budget at home. The money going out must not exceed the money coming in. State law requires the City of Tulsa to have a balanced budget.

The City of Tulsa receives its money from several major sources, including five local taxes: sales tax, use tax, franchise tax/right-of-way user fees from utility companies, hotel/motel tax, and ad valorem tax. Other sources include enterprise revenues from airport charges, golf course fees, and utility services - water, sewer, refuse and stormwater. The City also obtains revenue from licenses and permits, culture and recreation facilities, municipal court fines, public safety fees, interest earnings, federal grants and shared revenue from state government.

Perhaps the most familiar sources of City of Tulsa funding are the ones for which elections are held every few years. These include General Obligation Bond Issues (2005) and extensions of the Third Penny Sales Tax (2001 | 2006 | 2008 Fix Our Streets). Both of these sources are used exclusively to construct capital improvements like roads, bridges, sanitary sewer improvements, flood control funding, and other critical needs identified by citizens, the Mayor and Council.

The City of Tulsa uses its money to provide services in the following areas: public safety and protection, public works and transportation, cultural development and recreation, economic development and administrative support services.