The 2021 budget was approved by the Fairway City Council on August 24, 2020. 

 OVERALL HIGHLIGHTS OF THE 2021 BUDGET

• Flat mill levy – The 2021 Budget holds the mill levy flat for the fifth consecutive year.
• General Fund Budget – The 2021 General Fund Budget is $4,988,060 which is a .67% increase from the 2019 Budget. A substantial amount of this increase is due to a higher budgeted transfer to the CIP Fund.
• Reserves –The City’s total unrestricted reserve is will be $747,407 in 2021 and is split between the General Fund and the Equipment Reserve Fund. This plus the $90,000 Contingency budgeted in the Administration Department totals 17.75% of the 2021 General Fund Budget. In 2018, the City updated its General Fund Reserve guideline from a minimum of 10% to a recommended 20%. Achieving the higher re- serve will be a multi year effort.
• Salary increases – The 2021 Budget includes a 3% merit based salary increase for full-time employees.
• Health Insurance – Overall, health insurance costs increased by 8-10% with various plan offerings continued.
• Transfer to Equipment Reserve Fund – A $10,000 transfer from the General Fund to the Equipment Reserve Fund is currently budgeted to build a reserve for CIP equipment purchases.

Capital Improvement Fund Budget

• There is currently $650,580 in Priority 1 projects in the Capital Improvement Plan.  Priority 1 projects

include: Street Maintenance – Fairway Rd, Cherokee, Eastvale, Neosho Public Works Department – Replacement of one mower Police Department Equipment – Replacement of one patrol vehicle

 

2021 Budget Information: