Brentwood Adopts Fiscal Year 2021 Budget
At its regular Monday, June 22 meeting, the Brentwood City Commission adopted a balanced budget for Fiscal Year 2021 with net expenditures for all funds totaling $92,183,930. This represents a .06% or $57,435 decrease from the current FY 2020 budget. During the City’s budget preparation, the impacts of the COVID-19 crisis struck the State of Tennessee and the world, which caused a shutdown of the economy.
primary revenue sources were also showing moderate to strong growth year over year. As a result of COVID-19 and businesses shut down for several weeks, the City estimates a loss in overall revenue of approximately $1.5 million during the current fiscal year and had to reduce original projected revenues for next year by over $1 million. Because of the City’s historically conservative budgeting practices, these reductions are not expected to directly impact day to day services. However, this loss of revenue will likely mean delays in scheduling of some larger capital projects across the City.
City Manager Kirk Bednar told City Commissioners and department leaders at a May 14th budget work session that Brentwood now must operate under unprecedented times while contending with the loss of revenues from COVID-19 in the year ahead and beyond. Bednar said, “while the City has traditionally taken a very conservative approach to budgeting, the uncertain times we find ourselves in today dictate that the proposed FY 2021 budget be even more conservative than normal. This will impact our ability to provide employee pay adjustments and pursue other service enhancements.”
Despite the tough financial challenges, this budget provides funding for one new technology position, full funding for the City’s pension and debt service obligations, new operating costs for the Brentwood Police Headquarters set to open in spring of 2021, scheduled equipment replacement, and new radio system maintenance costs.
The proposed budget continues Brentwood’s conservative fiscal foundation. For nearly three decades, there has not been a change in the City’s effective property tax rate, which will remain at 36 cents for 2021. The adopted capital budget provides funding for several important projects including:
- Planning and preliminary design for an inclusive playground in Granny White Park
- Opening of the new Brentwood Police Department Headquarters
- Design of the new Fire Station #5 to be located on Split Log Road
- Final payment towards the purchase of land for the future Windy Hill Park on Old Smyrna Road