WEBVTT Kind: captions Language: en 00:00:00.480 --> 00:00:02.149 align:start position:0% [Music] 00:00:02.149 --> 00:00:02.159 align:start position:0% [Music] 00:00:02.159 --> 00:00:04.230 align:start position:0% [Music] when<00:00:02.320> we<00:00:02.480> talk<00:00:02.720> about<00:00:02.960> city<00:00:03.280> budget<00:00:03.760> all<00:00:04.000> too 00:00:04.230 --> 00:00:04.240 align:start position:0% when we talk about city budget all too 00:00:04.240 --> 00:00:05.670 align:start position:0% when we talk about city budget all too often<00:00:04.480> the<00:00:04.640> flood<00:00:04.960> of<00:00:05.120> numbers<00:00:05.520> and 00:00:05.670 --> 00:00:05.680 align:start position:0% often the flood of numbers and 00:00:05.680 --> 00:00:07.349 align:start position:0% often the flood of numbers and percentages<00:00:06.399> can<00:00:06.640> quickly<00:00:06.960> become 00:00:07.349 --> 00:00:07.359 align:start position:0% percentages can quickly become 00:00:07.359 --> 00:00:08.629 align:start position:0% percentages can quickly become overwhelming 00:00:08.629 --> 00:00:08.639 align:start position:0% overwhelming 00:00:08.639 --> 00:00:10.230 align:start position:0% overwhelming after<00:00:09.040> all<00:00:09.280> when<00:00:09.440> you're<00:00:09.599> trying<00:00:09.840> to<00:00:10.000> talk 00:00:10.230 --> 00:00:10.240 align:start position:0% after all when you're trying to talk 00:00:10.240 --> 00:00:11.830 align:start position:0% after all when you're trying to talk about<00:00:10.480> how<00:00:10.639> a<00:00:10.719> couple<00:00:11.120> hundred<00:00:11.440> million 00:00:11.830 --> 00:00:11.840 align:start position:0% about how a couple hundred million 00:00:11.840 --> 00:00:13.910 align:start position:0% about how a couple hundred million dollars<00:00:12.160> gets<00:00:12.400> spent<00:00:13.280> things<00:00:13.519> can<00:00:13.679> get 00:00:13.910 --> 00:00:13.920 align:start position:0% dollars gets spent things can get 00:00:13.920 --> 00:00:16.550 align:start position:0% dollars gets spent things can get complicated<00:00:14.559> very<00:00:14.920> quickly<00:00:15.920> but<00:00:16.080> the<00:00:16.240> truth 00:00:16.550 --> 00:00:16.560 align:start position:0% complicated very quickly but the truth 00:00:16.560 --> 00:00:18.870 align:start position:0% complicated very quickly but the truth is<00:00:16.960> the<00:00:17.119> city<00:00:17.359> budget<00:00:17.840> works<00:00:18.160> a<00:00:18.240> lot<00:00:18.400> like<00:00:18.640> any 00:00:18.870 --> 00:00:18.880 align:start position:0% is the city budget works a lot like any 00:00:18.880 --> 00:00:20.950 align:start position:0% is the city budget works a lot like any household<00:00:19.520> just<00:00:19.920> bigger 00:00:20.950 --> 00:00:20.960 align:start position:0% household just bigger 00:00:20.960 --> 00:00:23.750 align:start position:0% household just bigger revenue<00:00:21.439> comes<00:00:21.760> in<00:00:22.080> expenses<00:00:22.720> go<00:00:22.960> out 00:00:23.750 --> 00:00:23.760 align:start position:0% revenue comes in expenses go out 00:00:23.760 --> 00:00:25.750 align:start position:0% revenue comes in expenses go out and<00:00:24.000> just<00:00:24.240> like<00:00:24.480> you<00:00:24.720> the<00:00:24.880> city<00:00:25.199> can't<00:00:25.439> spend 00:00:25.750 --> 00:00:25.760 align:start position:0% and just like you the city can't spend 00:00:25.760 --> 00:00:27.589 align:start position:0% and just like you the city can't spend more<00:00:25.920> money<00:00:26.160> than<00:00:26.400> it<00:00:26.480> makes 00:00:27.589 --> 00:00:27.599 align:start position:0% more money than it makes 00:00:27.599 --> 00:00:29.509 align:start position:0% more money than it makes of<00:00:27.760> course<00:00:28.080> it<00:00:28.160> can<00:00:28.320> borrow<00:00:28.640> money<00:00:29.039> but<00:00:29.199> paying 00:00:29.509 --> 00:00:29.519 align:start position:0% of course it can borrow money but paying 00:00:29.519 --> 00:00:32.069 align:start position:0% of course it can borrow money but paying it<00:00:29.599> back<00:00:30.000> what<00:00:30.240> we<00:00:30.400> call<00:00:30.640> debt<00:00:30.960> service 00:00:32.069 --> 00:00:32.079 align:start position:0% it back what we call debt service 00:00:32.079 --> 00:00:34.150 align:start position:0% it back what we call debt service has<00:00:32.239> to<00:00:32.399> be<00:00:32.559> factored<00:00:32.960> into<00:00:33.200> budget<00:00:33.600> over<00:00:33.840> time 00:00:34.150 --> 00:00:34.160 align:start position:0% has to be factored into budget over time 00:00:34.160 --> 00:00:35.990 align:start position:0% has to be factored into budget over time just<00:00:34.320> like<00:00:34.559> you<00:00:34.640> might<00:00:34.880> finance<00:00:35.360> a<00:00:35.440> car<00:00:35.760> or 00:00:35.990 --> 00:00:36.000 align:start position:0% just like you might finance a car or 00:00:36.000 --> 00:00:36.870 align:start position:0% just like you might finance a car or house 00:00:36.870 --> 00:00:36.880 align:start position:0% house 00:00:36.880 --> 00:00:39.190 align:start position:0% house by<00:00:37.120> law<00:00:37.600> little<00:00:37.840> rock<00:00:38.160> has<00:00:38.320> to<00:00:38.480> operate<00:00:38.960> on<00:00:39.120> a 00:00:39.190 --> 00:00:39.200 align:start position:0% by law little rock has to operate on a 00:00:39.200 --> 00:00:40.790 align:start position:0% by law little rock has to operate on a balanced<00:00:39.680> budget 00:00:40.790 --> 00:00:40.800 align:start position:0% balanced budget 00:00:40.800 --> 00:00:43.110 align:start position:0% balanced budget so<00:00:40.960> how<00:00:41.120> does<00:00:41.360> the<00:00:41.520> city<00:00:41.840> make<00:00:42.079> money 00:00:43.110 --> 00:00:43.120 align:start position:0% so how does the city make money 00:00:43.120 --> 00:00:45.350 align:start position:0% so how does the city make money while<00:00:43.280> the<00:00:43.440> vast<00:00:43.840> bulk<00:00:44.079> of<00:00:44.239> it<00:00:44.559> nearly<00:00:44.879> half<00:00:45.200> of 00:00:45.350 --> 00:00:45.360 align:start position:0% while the vast bulk of it nearly half of 00:00:45.360 --> 00:00:47.590 align:start position:0% while the vast bulk of it nearly half of all<00:00:45.520> revenue<00:00:46.000> in<00:00:46.160> recent<00:00:46.480> years<00:00:47.039> or<00:00:47.200> more<00:00:47.440> than 00:00:47.590 --> 00:00:47.600 align:start position:0% all revenue in recent years or more than 00:00:47.600 --> 00:00:49.430 align:start position:0% all revenue in recent years or more than 100<00:00:48.079> million<00:00:48.399> dollars 00:00:49.430 --> 00:00:49.440 align:start position:0% 100 million dollars 00:00:49.440 --> 00:00:51.430 align:start position:0% 100 million dollars comes<00:00:49.760> from<00:00:50.000> sales<00:00:50.399> tax 00:00:51.430 --> 00:00:51.440 align:start position:0% comes from sales tax 00:00:51.440 --> 00:00:53.350 align:start position:0% comes from sales tax little<00:00:51.680> rock<00:00:52.079> has<00:00:52.239> one<00:00:52.399> of<00:00:52.480> the<00:00:52.640> lowest<00:00:52.960> sales 00:00:53.350 --> 00:00:53.360 align:start position:0% little rock has one of the lowest sales 00:00:53.360 --> 00:00:55.430 align:start position:0% little rock has one of the lowest sales tax<00:00:53.680> rates<00:00:54.079> in<00:00:54.160> the<00:00:54.320> state<00:00:54.800> and<00:00:54.960> one<00:00:55.199> of<00:00:55.280> the 00:00:55.430 --> 00:00:55.440 align:start position:0% tax rates in the state and one of the 00:00:55.440 --> 00:00:58.310 align:start position:0% tax rates in the state and one of the lowest<00:00:55.760> in<00:00:55.840> the<00:00:56.000> region<00:00:56.399> for<00:00:56.559> a<00:00:56.640> city<00:00:56.960> its<00:00:57.199> size 00:00:58.310 --> 00:00:58.320 align:start position:0% lowest in the region for a city its size 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government<00:01:04.559> to<00:01:04.799> fund<00:01:05.119> operations 00:01:06.789 --> 00:01:06.799 align:start position:0% government to fund operations 00:01:06.799 --> 00:01:08.630 align:start position:0% government to fund operations the<00:01:07.040> other<00:01:07.200> half<00:01:07.520> of<00:01:07.600> the<00:01:07.760> city's<00:01:08.159> revenue 00:01:08.630 --> 00:01:08.640 align:start position:0% the other half of the city's revenue 00:01:08.640 --> 00:01:11.109 align:start position:0% the other half of the city's revenue comes<00:01:08.960> from<00:01:09.200> four<00:01:09.520> main<00:01:09.920> areas 00:01:11.109 --> 00:01:11.119 align:start position:0% comes from four main areas 00:01:11.119 --> 00:01:14.310 align:start position:0% comes from four main areas franchise<00:01:11.760> fees<00:01:12.400> licenses<00:01:13.040> and<00:01:13.200> permits 00:01:14.310 --> 00:01:14.320 align:start position:0% franchise fees licenses and permits 00:01:14.320 --> 00:01:16.630 align:start position:0% franchise fees licenses and permits property<00:01:14.880> taxes<00:01:15.520> and<00:01:15.759> a<00:01:15.840> small<00:01:16.159> bucket<00:01:16.479> of 00:01:16.630 --> 00:01:16.640 align:start position:0% property taxes and a small bucket of 00:01:16.640 --> 00:01:18.870 align:start position:0% property taxes and a small bucket of other<00:01:16.880> sources 00:01:18.870 --> 00:01:18.880 align:start position:0% other sources 00:01:18.880 --> 00:01:20.469 align:start position:0% other sources little<00:01:19.200> rock<00:01:19.600> makes<00:01:19.920> money<00:01:20.240> from<00:01:20.400> the 00:01:20.469 --> 00:01:20.479 align:start position:0% little rock makes money from the 00:01:20.479 --> 00:01:22.950 align:start position:0% little rock makes money from the utilities<00:01:21.200> but<00:01:21.439> not<00:01:21.680> from<00:01:21.840> providing<00:01:22.320> utility 00:01:22.950 --> 00:01:22.960 align:start position:0% utilities but not from providing utility 00:01:22.960 --> 00:01:24.630 align:start position:0% utilities but not from providing utility service<00:01:23.360> directly 00:01:24.630 --> 00:01:24.640 align:start position:0% service directly 00:01:24.640 --> 00:01:26.630 align:start position:0% service directly unlike<00:01:25.119> some<00:01:25.360> cities<00:01:25.840> little<00:01:26.080> rock<00:01:26.320> doesn't 00:01:26.630 --> 00:01:26.640 align:start position:0% unlike some cities little rock doesn't 00:01:26.640 --> 00:01:28.789 align:start position:0% unlike some cities little rock doesn't own<00:01:26.799> the<00:01:26.960> electric<00:01:27.439> company<00:01:28.320> but<00:01:28.560> those 00:01:28.789 --> 00:01:28.799 align:start position:0% own the electric company but those 00:01:28.799 --> 00:01:31.510 align:start position:0% own the electric company but those companies<00:01:29.280> who<00:01:29.439> run<00:01:29.680> the<00:01:29.759> utilities<00:01:30.400> here<00:01:31.040> gas 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position:0% the city's property where they run their pipes<00:01:38.079> and<00:01:38.240> cables 00:01:39.590 --> 00:01:39.600 align:start position:0% pipes and cables 00:01:39.600 --> 00:01:41.350 align:start position:0% pipes and cables these<00:01:39.840> fees<00:01:40.079> amount<00:01:40.400> to<00:01:40.560> about<00:01:40.799> 30<00:01:41.040> million 00:01:41.350 --> 00:01:41.360 align:start position:0% these fees amount to about 30 million 00:01:41.360 --> 00:01:43.190 align:start position:0% these fees amount to about 30 million dollars<00:01:41.759> a<00:01:41.920> year 00:01:43.190 --> 00:01:43.200 align:start position:0% dollars a year 00:01:43.200 --> 00:01:45.510 align:start position:0% dollars a year when<00:01:43.439> we<00:01:43.600> talk<00:01:43.759> about<00:01:44.079> permits<00:01:44.479> and<00:01:44.640> licenses 00:01:45.510 --> 00:01:45.520 align:start position:0% when we talk about permits and licenses 00:01:45.520 --> 00:01:47.429 align:start position:0% when we talk about permits and licenses that<00:01:45.840> is<00:01:46.000> the<00:01:46.159> money<00:01:46.479> developers<00:01:47.040> pay<00:01:47.280> in 00:01:47.429 --> 00:01:47.439 align:start position:0% that is the money developers pay in 00:01:47.439 --> 00:01:48.789 align:start position:0% that is the money developers pay in building<00:01:47.759> permits<00:01:48.240> to<00:01:48.320> start<00:01:48.640> new 00:01:48.789 --> 00:01:48.799 align:start position:0% building permits to start new 00:01:48.799 --> 00:01:50.069 align:start position:0% building permits to start new construction 00:01:50.069 --> 00:01:50.079 align:start position:0% construction 00:01:50.079 --> 00:01:52.550 align:start position:0% construction of<00:01:50.320> houses<00:01:51.119> shopping<00:01:51.520> centers<00:01:52.159> anything 00:01:52.550 --> 00:01:52.560 align:start position:0% of houses shopping centers anything 00:01:52.560 --> 00:01:53.749 align:start position:0% of houses shopping centers anything they're<00:01:52.720> building 00:01:53.749 --> 00:01:53.759 align:start position:0% they're building 00:01:53.759 --> 00:01:55.670 align:start position:0% they're building but<00:01:54.000> it<00:01:54.159> also<00:01:54.479> includes<00:01:54.960> annual<00:01:55.280> business 00:01:55.670 --> 00:01:55.680 align:start position:0% but it also includes annual business 00:01:55.680 --> 00:01:57.910 align:start position:0% but it also includes annual business licenses<00:01:56.320> and<00:01:56.479> things<00:01:56.719> like<00:01:56.960> that 00:01:57.910 --> 00:01:57.920 align:start position:0% licenses and things like that 00:01:57.920 --> 00:01:59.510 align:start position:0% licenses and things like that these<00:01:58.159> payments<00:01:58.560> amount<00:01:58.799> to<00:01:58.960> more<00:01:59.119> than<00:01:59.280> 10 00:01:59.510 --> 00:01:59.520 align:start position:0% these payments amount to more than 10 00:01:59.520 --> 00:02:01.109 align:start position:0% these payments amount to more than 10 million<00:01:59.920> a<00:02:00.000> year 00:02:01.109 --> 00:02:01.119 align:start position:0% million a year 00:02:01.119 --> 00:02:03.109 align:start position:0% million a year also<00:02:01.520> a<00:02:01.680> small<00:02:02.000> percentage<00:02:02.479> of<00:02:02.560> the<00:02:02.719> personal 00:02:03.109 --> 00:02:03.119 align:start position:0% also a small percentage of the personal 00:02:03.119 --> 00:02:05.109 align:start position:0% also a small percentage of the personal property<00:02:03.600> taxes<00:02:04.000> you<00:02:04.159> pay<00:02:04.399> are<00:02:04.479> given<00:02:04.719> to<00:02:04.880> the 00:02:05.109 --> 00:02:05.119 align:start position:0% property taxes you pay are given to the 00:02:05.119 --> 00:02:07.109 align:start position:0% property taxes you pay are given to the city<00:02:05.920> though<00:02:06.159> the<00:02:06.320> bulk<00:02:06.560> of<00:02:06.640> them<00:02:06.880> go<00:02:07.040> to 00:02:07.109 --> 00:02:07.119 align:start position:0% city though the bulk of them go to 00:02:07.119 --> 00:02:08.949 align:start position:0% city though the bulk of them go to school<00:02:07.439> districts<00:02:08.000> and<00:02:08.160> entities<00:02:08.640> like<00:02:08.879> the 00:02:08.949 --> 00:02:08.959 align:start position:0% school districts and entities like the 00:02:08.959 --> 00:02:11.430 align:start position:0% school districts and entities like the central<00:02:09.360> arkansas<00:02:09.840> library<00:02:10.399> system 00:02:11.430 --> 00:02:11.440 align:start position:0% central arkansas library system 00:02:11.440 --> 00:02:12.710 align:start position:0% central arkansas library system which<00:02:11.680> aren't<00:02:11.840> part<00:02:12.080> of<00:02:12.160> little<00:02:12.400> rock's 00:02:12.710 --> 00:02:12.720 align:start position:0% which aren't part of little rock's 00:02:12.720 --> 00:02:14.550 align:start position:0% which aren't part of little rock's government<00:02:13.120> but<00:02:13.280> do<00:02:13.520> work<00:02:13.760> very<00:02:13.920> closely<00:02:14.319> with 00:02:14.550 --> 00:02:14.560 align:start position:0% government but do work very closely with 00:02:14.560 --> 00:02:15.270 align:start position:0% government but do work very closely with us 00:02:15.270 --> 00:02:15.280 align:start position:0% us 00:02:15.280 --> 00:02:17.430 align:start position:0% us as<00:02:15.520> well<00:02:15.680> as<00:02:15.840> the<00:02:16.000> county<00:02:16.400> government<00:02:17.280> the 00:02:17.430 --> 00:02:17.440 align:start position:0% as well as the county government the 00:02:17.440 --> 00:02:19.190 align:start position:0% as well as the county government the city's<00:02:17.840> portion<00:02:18.239> is<00:02:18.400> about<00:02:18.640> 30<00:02:18.879> million 00:02:19.190 --> 00:02:19.200 align:start position:0% city's portion is about 30 million 00:02:19.200 --> 00:02:21.430 align:start position:0% city's portion is about 30 million dollars<00:02:19.520> a<00:02:19.680> year 00:02:21.430 --> 00:02:21.440 align:start position:0% dollars a year 00:02:21.440 --> 00:02:23.750 align:start position:0% dollars a year finally<00:02:21.920> we<00:02:22.080> have<00:02:22.319> everything<00:02:22.879> else 00:02:23.750 --> 00:02:23.760 align:start position:0% finally we have everything else 00:02:23.760 --> 00:02:25.430 align:start position:0% finally we have everything else that<00:02:24.000> might<00:02:24.160> be<00:02:24.319> a<00:02:24.480> fee<00:02:24.720> you<00:02:24.879> pay<00:02:25.120> to<00:02:25.280> go 00:02:25.430 --> 00:02:25.440 align:start position:0% that might be a fee you pay to go 00:02:25.440 --> 00:02:27.589 align:start position:0% that might be a fee you pay to go golfing<00:02:25.920> or<00:02:26.080> rent<00:02:26.319> a<00:02:26.400> pavilion<00:02:26.959> in<00:02:27.120> a<00:02:27.280> city 00:02:27.589 --> 00:02:27.599 align:start position:0% golfing or rent a pavilion in a city 00:02:27.599 --> 00:02:28.470 align:start position:0% golfing or rent a pavilion in a city park 00:02:28.470 --> 00:02:28.480 align:start position:0% park 00:02:28.480 --> 00:02:30.710 align:start position:0% park basically<00:02:29.120> any<00:02:29.440> other<00:02:29.760> direct<00:02:30.080> fee<00:02:30.319> paid<00:02:30.560> to 00:02:30.710 --> 00:02:30.720 align:start position:0% basically any other direct fee paid to 00:02:30.720 --> 00:02:31.830 align:start position:0% basically any other direct fee paid to the<00:02:30.879> city 00:02:31.830 --> 00:02:31.840 align:start position:0% the city 00:02:31.840 --> 00:02:33.750 align:start position:0% the city again<00:02:32.160> this<00:02:32.400> amounts<00:02:32.800> to<00:02:32.959> about<00:02:33.120> 30<00:02:33.440> million 00:02:33.750 --> 00:02:33.760 align:start position:0% again this amounts to about 30 million 00:02:33.760 --> 00:02:35.830 align:start position:0% again this amounts to about 30 million dollars<00:02:34.080> a<00:02:34.160> year 00:02:35.830 --> 00:02:35.840 align:start position:0% dollars a year 00:02:35.840 --> 00:02:37.990 align:start position:0% dollars a year together<00:02:36.319> these<00:02:36.560> sources<00:02:37.120> along<00:02:37.360> with<00:02:37.599> sales 00:02:37.990 --> 00:02:38.000 align:start position:0% together these sources along with sales 00:02:38.000 --> 00:02:40.309 align:start position:0% together these sources along with sales tax<00:02:38.400> make<00:02:38.640> up<00:02:38.800> over<00:02:39.040> 200<00:02:39.440> million<00:02:39.760> dollars<00:02:40.160> in 00:02:40.309 --> 00:02:40.319 align:start position:0% tax make up over 200 million dollars in 00:02:40.319 --> 00:02:41.910 align:start position:0% tax make up over 200 million dollars in annual<00:02:40.720> revenue 00:02:41.910 --> 00:02:41.920 align:start position:0% annual revenue 00:02:41.920 --> 00:02:43.830 align:start position:0% annual revenue the<00:02:42.080> rest<00:02:42.319> of<00:02:42.480> the<00:02:42.560> city's<00:02:42.959> money<00:02:43.280> comes<00:02:43.599> from 00:02:43.830 --> 00:02:43.840 align:start position:0% the rest of the city's money comes from 00:02:43.840 --> 00:02:45.990 align:start position:0% the rest of the city's money comes from specific<00:02:44.400> funds<00:02:44.720> devoted<00:02:45.200> to<00:02:45.440> specific 00:02:45.990 --> 00:02:46.000 align:start position:0% specific funds devoted to specific 00:02:46.000 --> 00:02:48.830 align:start position:0% specific funds devoted to specific purposes<00:02:46.879> like<00:02:47.120> waste<00:02:47.360> disposal<00:02:47.920> and<00:02:48.080> parking 00:02:48.830 --> 00:02:48.840 align:start position:0% purposes like waste disposal and parking 00:02:48.840 --> 00:02:51.430 align:start position:0% purposes like waste disposal and parking garages<00:02:49.840> all<00:02:50.080> combined<00:02:50.720> that<00:02:50.879> revenue<00:02:51.280> was 00:02:51.430 --> 00:02:51.440 align:start position:0% garages all combined that revenue was 00:02:51.440 --> 00:02:55.830 align:start position:0% garages all combined that revenue was more<00:02:51.599> than<00:02:51.840> 270<00:02:52.720> million<00:02:52.959> dollars<00:02:53.360> in<00:02:53.519> 2021. 00:02:55.830 --> 00:02:55.840 align:start position:0% more than 270 million dollars in 2021. 00:02:55.840 --> 00:02:57.830 align:start position:0% more than 270 million dollars in 2021. so<00:02:56.000> where<00:02:56.160> does<00:02:56.319> that<00:02:56.480> money<00:02:56.800> go 00:02:57.830 --> 00:02:57.840 align:start position:0% so where does that money go 00:02:57.840 --> 00:02:59.670 align:start position:0% so where does that money go well<00:02:58.159> it<00:02:58.239> pays<00:02:58.560> for<00:02:58.720> everything<00:02:59.120> you<00:02:59.280> find<00:02:59.519> in 00:02:59.670 --> 00:02:59.680 align:start position:0% well it pays for everything you find in 00:02:59.680 --> 00:03:02.149 align:start position:0% well it pays for everything you find in the<00:02:59.760> city<00:03:00.400> the<00:03:00.640> parks<00:03:01.200> police<00:03:01.680> and<00:03:01.840> fire 00:03:02.149 --> 00:03:02.159 align:start position:0% the city the parks police and fire 00:03:02.159 --> 00:03:05.030 align:start position:0% the city the parks police and fire protection<00:03:03.040> trash<00:03:03.440> service<00:03:04.159> street<00:03:04.560> paving 00:03:05.030 --> 00:03:05.040 align:start position:0% protection trash service street paving 00:03:05.040 --> 00:03:07.670 align:start position:0% protection trash service street paving and<00:03:05.200> so<00:03:05.440> on<00:03:05.920> everything 00:03:07.670 --> 00:03:07.680 align:start position:0% and so on everything 00:03:07.680 --> 00:03:09.350 align:start position:0% and so on everything an<00:03:07.840> important<00:03:08.319> concept<00:03:08.800> to<00:03:08.959> help<00:03:09.200> in 00:03:09.350 --> 00:03:09.360 align:start position:0% an important concept to help in 00:03:09.360 --> 00:03:11.110 align:start position:0% an important concept to help in understanding<00:03:09.920> the<00:03:10.080> city<00:03:10.319> budget<00:03:10.800> is<00:03:10.959> the 00:03:11.110 --> 00:03:11.120 align:start position:0% understanding the city budget is the 00:03:11.120 --> 00:03:13.910 align:start position:0% understanding the city budget is the idea<00:03:11.519> of<00:03:11.599> funds<00:03:11.920> we<00:03:12.080> mentioned<00:03:12.400> a<00:03:12.480> second<00:03:12.800> ago 00:03:13.910 --> 00:03:13.920 align:start position:0% idea of funds we mentioned a second ago 00:03:13.920 --> 00:03:16.470 align:start position:0% idea of funds we mentioned a second ago the<00:03:14.080> city<00:03:14.400> has<00:03:14.640> specific<00:03:15.120> funds<00:03:15.519> for<00:03:15.760> streets 00:03:16.470 --> 00:03:16.480 align:start position:0% the city has specific funds for streets 00:03:16.480 --> 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we<00:03:32.640> mean<00:03:32.879> when<00:03:33.040> we<00:03:33.200> talk 00:03:33.350 --> 00:03:33.360 align:start position:0% that's often what we mean when we talk 00:03:33.360 --> 00:03:35.030 align:start position:0% that's often what we mean when we talk about<00:03:33.599> the<00:03:33.760> city<00:03:34.000> budget 00:03:35.030 --> 00:03:35.040 align:start position:0% about the city budget 00:03:35.040 --> 00:03:37.030 align:start position:0% about the city budget the<00:03:35.200> general<00:03:35.519> fund<00:03:35.840> is<00:03:35.920> by<00:03:36.080> far<00:03:36.400> the<00:03:36.560> largest 00:03:37.030 --> 00:03:37.040 align:start position:0% the general fund is by far the largest 00:03:37.040 --> 00:03:39.589 align:start position:0% the general fund is by far the largest in<00:03:37.120> terms<00:03:37.440> of<00:03:37.599> both<00:03:37.840> revenue<00:03:38.319> and<00:03:38.480> expenses 00:03:39.589 --> 00:03:39.599 align:start position:0% in terms of both revenue and expenses 00:03:39.599 --> 00:03:41.589 align:start position:0% in terms of both revenue and expenses about<00:03:39.920> 80<00:03:40.239> percent<00:03:40.560> of<00:03:40.799> all<00:03:40.959> of<00:03:41.040> the<00:03:41.200> city's 00:03:41.589 --> 00:03:41.599 align:start position:0% about 80 percent of all of the city's 00:03:41.599 --> 00:03:44.149 align:start position:0% about 80 percent of all of the city's finances<00:03:42.720> and<00:03:42.959> it<00:03:43.040> may<00:03:43.280> help<00:03:43.440> to<00:03:43.599> think<00:03:43.840> of<00:03:44.000> it 00:03:44.149 --> 00:03:44.159 align:start position:0% finances and it may help to think of it 00:03:44.159 --> 00:03:46.789 align:start position:0% finances and it may help to think of it as<00:03:44.319> the<00:03:44.480> city's<00:03:44.879> checkbook<00:03:46.159> when<00:03:46.319> little<00:03:46.560> rock 00:03:46.789 --> 00:03:46.799 align:start position:0% as the city's checkbook when little rock 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position:0% her that money comes out of the general fund 00:03:54.550 --> 00:03:54.560 align:start position:0% fund 00:03:54.560 --> 00:03:56.149 align:start position:0% fund more<00:03:54.720> than<00:03:54.959> half<00:03:55.280> of<00:03:55.360> the<00:03:55.519> general<00:03:55.760> fund<00:03:56.000> is 00:03:56.149 --> 00:03:56.159 align:start position:0% more than half of the general fund is 00:03:56.159 --> 00:03:58.229 align:start position:0% more than half of the general fund is devoted<00:03:56.560> to<00:03:56.720> public<00:03:57.040> safety 00:03:58.229 --> 00:03:58.239 align:start position:0% devoted to public safety 00:03:58.239 --> 00:03:59.910 align:start position:0% devoted to public safety this<00:03:58.560> includes<00:03:58.879> our<00:03:59.040> police<00:03:59.519> and<00:03:59.599> fire 00:03:59.910 --> 00:03:59.920 align:start position:0% this includes our police and fire 00:03:59.920 --> 00:04:01.670 align:start position:0% this includes our police and fire departments<00:04:00.480> which<00:04:00.799> not<00:04:00.959> only<00:04:01.200> provide<00:04:01.519> the 00:04:01.670 --> 00:04:01.680 align:start position:0% departments which not only provide the 00:04:01.680 --> 00:04:03.750 align:start position:0% departments which not only provide the uniformed<00:04:02.239> officers<00:04:03.200> but<00:04:03.360> also<00:04:03.599> the 00:04:03.750 --> 00:04:03.760 align:start position:0% uniformed officers but also the 00:04:03.760 --> 00:04:05.990 align:start position:0% uniformed officers but also the dispatchers<00:04:04.480> and<00:04:04.640> other<00:04:04.879> emergency<00:04:05.519> response 00:04:05.990 --> 00:04:06.000 align:start position:0% dispatchers and other emergency response 00:04:06.000 --> 00:04:08.309 align:start position:0% dispatchers and other emergency response communications<00:04:06.720> personnel 00:04:08.309 --> 00:04:08.319 align:start position:0% communications personnel 00:04:08.319 --> 00:04:10.149 align:start position:0% communications personnel together<00:04:08.720> these<00:04:08.959> two<00:04:09.200> departments<00:04:09.760> alone 00:04:10.149 --> 00:04:10.159 align:start position:0% together these two departments alone 00:04:10.159 --> 00:04:12.550 align:start position:0% together these two departments alone represent<00:04:10.640> nearly<00:04:10.959> 140<00:04:11.680> million<00:04:12.080> dollars<00:04:12.400> in 00:04:12.550 --> 00:04:12.560 align:start position:0% represent nearly 140 million dollars in 00:04:12.560 --> 00:04:15.110 align:start position:0% represent nearly 140 million dollars in spending<00:04:13.040> each<00:04:13.200> year 00:04:15.110 --> 00:04:15.120 align:start position:0% spending each year 00:04:15.120 --> 00:04:16.870 align:start position:0% spending each year the<00:04:15.280> rest<00:04:15.519> of<00:04:15.599> that<00:04:15.840> money<00:04:16.079> goes<00:04:16.400> toward<00:04:16.720> other 00:04:16.870 --> 00:04:16.880 align:start position:0% the rest of that money goes toward other 00:04:16.880 --> 00:04:19.189 align:start position:0% the rest of that money goes toward other city<00:04:17.199> operations<00:04:17.919> whether<00:04:18.239> that's<00:04:18.560> our<00:04:18.720> parks 00:04:19.189 --> 00:04:19.199 align:start position:0% city operations whether that's our parks 00:04:19.199 --> 00:04:21.509 align:start position:0% city operations whether that's our parks and<00:04:19.440> zoo<00:04:19.840> or<00:04:20.239> supporting<00:04:20.720> departments<00:04:21.280> like 00:04:21.509 --> 00:04:21.519 align:start position:0% and zoo or supporting departments like 00:04:21.519 --> 00:04:24.870 align:start position:0% and zoo or supporting departments like finance<00:04:22.479> human<00:04:22.880> resources<00:04:23.520> and<00:04:23.680> i.t 00:04:24.870 --> 00:04:24.880 align:start position:0% finance human resources and i.t 00:04:24.880 --> 00:04:26.790 align:start position:0% finance human resources and i.t it's<00:04:25.120> more<00:04:25.280> than<00:04:25.520> 70<00:04:25.919> million<00:04:26.240> dollars<00:04:26.639> in 00:04:26.790 --> 00:04:26.800 align:start position:0% it's more than 70 million dollars in 00:04:26.800 --> 00:04:29.350 align:start position:0% it's more than 70 million dollars in expenses<00:04:27.360> from<00:04:27.520> the<00:04:27.680> general<00:04:28.080> fund 00:04:29.350 --> 00:04:29.360 align:start position:0% expenses from the general fund 00:04:29.360 --> 00:04:31.510 align:start position:0% expenses from the general fund as<00:04:29.600> is<00:04:29.759> the<00:04:29.840> case<00:04:30.160> for<00:04:30.320> most<00:04:30.560> large<00:04:30.880> employers 00:04:31.510 --> 00:04:31.520 align:start position:0% as is the case for most large employers 00:04:31.520 --> 00:04:33.510 align:start position:0% as is the case for most large employers the<00:04:31.600> biggest<00:04:32.000> expenses<00:04:32.560> for<00:04:32.720> the<00:04:32.880> city<00:04:33.360> are 00:04:33.510 --> 00:04:33.520 align:start position:0% the biggest expenses for the city are 00:04:33.520 --> 00:04:35.030 align:start position:0% the biggest expenses for the city are payroll<00:04:34.000> and<00:04:34.080> benefits<00:04:34.560> like<00:04:34.720> health 00:04:35.030 --> 00:04:35.040 align:start position:0% payroll and benefits like health 00:04:35.040 --> 00:04:37.350 align:start position:0% payroll and benefits like health insurance<00:04:36.000> for<00:04:36.160> the<00:04:36.320> employees<00:04:36.800> who<00:04:36.960> provide 00:04:37.350 --> 00:04:37.360 align:start position:0% insurance for the employees who provide 00:04:37.360 --> 00:04:39.430 align:start position:0% insurance for the employees who provide public<00:04:37.680> services 00:04:39.430 --> 00:04:39.440 align:start position:0% public services 00:04:39.440 --> 00:04:40.870 align:start position:0% public services who<00:04:39.600> decides<00:04:40.080> how<00:04:40.240> much<00:04:40.400> money<00:04:40.720> each 00:04:40.870 --> 00:04:40.880 align:start position:0% who decides how much money each 00:04:40.880 --> 00:04:42.550 align:start position:0% who decides how much money each department<00:04:41.440> gets 00:04:42.550 --> 00:04:42.560 align:start position:0% department gets 00:04:42.560 --> 00:04:44.469 align:start position:0% department gets each<00:04:42.880> fall<00:04:43.280> directors<00:04:43.759> of<00:04:43.840> all<00:04:44.000> the<00:04:44.080> various 00:04:44.469 --> 00:04:44.479 align:start position:0% each fall directors of all the various 00:04:44.479 --> 00:04:46.469 align:start position:0% each fall directors of all the various city<00:04:44.800> departments<00:04:45.520> sit<00:04:45.759> down<00:04:45.919> with<00:04:46.160> chief 00:04:46.469 --> 00:04:46.479 align:start position:0% city departments sit down with chief 00:04:46.479 --> 00:04:48.870 align:start position:0% city departments sit down with chief executive<00:04:47.040> and<00:04:47.120> administrator<00:04:47.840> of<00:04:48.000> the<00:04:48.160> city 00:04:48.870 --> 00:04:48.880 align:start position:0% executive and administrator of the city 00:04:48.880 --> 00:04:50.950 align:start position:0% executive and administrator of the city that<00:04:49.040> is<00:04:49.199> the<00:04:49.280> mayor<00:04:49.600> and<00:04:49.680> city<00:04:50.000> manager 00:04:50.950 --> 00:04:50.960 align:start position:0% that is the mayor and city manager 00:04:50.960 --> 00:04:53.430 align:start position:0% that is the mayor and city manager and<00:04:51.120> present<00:04:51.520> plans<00:04:51.919> for<00:04:52.080> their<00:04:52.240> department 00:04:53.430 --> 00:04:53.440 align:start position:0% and present plans for their department 00:04:53.440 --> 00:04:55.510 align:start position:0% and present plans for their department they<00:04:53.600> discuss<00:04:54.000> staffing<00:04:54.479> levels<00:04:54.960> equipment 00:04:55.510 --> 00:04:55.520 align:start position:0% they discuss staffing levels equipment 00:04:55.520 --> 00:04:57.990 align:start position:0% they discuss staffing levels equipment needs<00:04:56.000> and<00:04:56.160> so<00:04:56.400> on<00:04:57.040> everything<00:04:57.520> they<00:04:57.680> need<00:04:57.840> to 00:04:57.990 --> 00:04:58.000 align:start position:0% needs and so on everything they need to 00:04:58.000 --> 00:04:59.909 align:start position:0% needs and so on everything they need to provide<00:04:58.400> services<00:04:58.960> for<00:04:59.120> the<00:04:59.280> residents<00:04:59.759> of 00:04:59.909 --> 00:04:59.919 align:start position:0% provide services for the residents of 00:04:59.919 --> 00:05:01.990 align:start position:0% provide services for the residents of the<00:05:00.080> city 00:05:01.990 --> 00:05:02.000 align:start position:0% the city 00:05:02.000 --> 00:05:03.909 align:start position:0% the city executive<00:05:02.560> administration<00:05:03.360> works<00:05:03.680> with<00:05:03.840> the 00:05:03.909 --> 00:05:03.919 align:start position:0% executive administration works with the 00:05:03.919 --> 00:05:05.749 align:start position:0% executive administration works with the finance<00:05:04.400> department<00:05:04.960> led<00:05:05.199> by<00:05:05.360> the<00:05:05.520> chief 00:05:05.749 --> 00:05:05.759 align:start position:0% finance department led by the chief 00:05:05.759 --> 00:05:08.950 align:start position:0% finance department led by the chief financial<00:05:06.320> officer<00:05:07.199> to<00:05:07.360> present<00:05:07.759> a<00:05:07.840> budget 00:05:08.950 --> 00:05:08.960 align:start position:0% financial officer to present a budget 00:05:08.960 --> 00:05:10.629 align:start position:0% financial officer to present a budget a<00:05:09.120> plan<00:05:09.360> of<00:05:09.440> spending<00:05:09.840> for<00:05:10.000> the<00:05:10.160> upcoming 00:05:10.629 --> 00:05:10.639 align:start position:0% a plan of spending for the upcoming 00:05:10.639 --> 00:05:12.070 align:start position:0% a plan of spending for the upcoming fiscal<00:05:11.039> year 00:05:12.070 --> 00:05:12.080 align:start position:0% fiscal year 00:05:12.080 --> 00:05:13.909 align:start position:0% fiscal year that<00:05:12.320> budget<00:05:12.720> is<00:05:12.880> ultimately<00:05:13.440> sent<00:05:13.680> to<00:05:13.759> the 00:05:13.909 --> 00:05:13.919 align:start position:0% that budget is ultimately sent to the 00:05:13.919 --> 00:05:16.550 align:start position:0% that budget is ultimately sent to the city's<00:05:14.240> board<00:05:14.479> of<00:05:14.560> directors<00:05:15.120> for<00:05:15.280> a<00:05:15.440> vote 00:05:16.550 --> 00:05:16.560 align:start position:0% city's board of directors for a vote 00:05:16.560 --> 00:05:18.629 align:start position:0% city's board of directors for a vote once<00:05:16.800> approved<00:05:17.280> by<00:05:17.440> the<00:05:17.600> board<00:05:18.000> the<00:05:18.160> city<00:05:18.479> is 00:05:18.629 --> 00:05:18.639 align:start position:0% once approved by the board the city is 00:05:18.639 --> 00:05:20.469 align:start position:0% once approved by the board the city is free<00:05:18.800> to<00:05:18.960> spend<00:05:19.280> money<00:05:19.600> in<00:05:19.759> accordance<00:05:20.240> with 00:05:20.469 --> 00:05:20.479 align:start position:0% free to spend money in accordance with 00:05:20.479 --> 00:05:22.310 align:start position:0% free to spend money in accordance with its<00:05:20.639> approved<00:05:21.120> budget 00:05:22.310 --> 00:05:22.320 align:start position:0% its approved budget 00:05:22.320 --> 00:05:24.710 align:start position:0% its approved budget how<00:05:22.479> can<00:05:22.639> you<00:05:22.800> become<00:05:23.120> involved<00:05:24.160> as<00:05:24.400> city 00:05:24.710 --> 00:05:24.720 align:start position:0% how can you become involved as city 00:05:24.720 --> 00:05:26.310 align:start position:0% how can you become involved as city administrators<00:05:25.440> work<00:05:25.680> through<00:05:25.840> the<00:05:25.919> budget 00:05:26.310 --> 00:05:26.320 align:start position:0% administrators work through the budget 00:05:26.320 --> 00:05:28.469 align:start position:0% administrators work through the budget process<00:05:26.800> each<00:05:27.120> fall<00:05:27.600> usually<00:05:27.919> beginning<00:05:28.320> in 00:05:28.469 --> 00:05:28.479 align:start position:0% process each fall usually beginning in 00:05:28.479 --> 00:05:31.110 align:start position:0% process each fall usually beginning in october<00:05:29.039> and<00:05:29.199> continuing<00:05:29.759> through<00:05:30.000> december 00:05:31.110 --> 00:05:31.120 align:start position:0% october and continuing through december 00:05:31.120 --> 00:05:33.590 align:start position:0% october and continuing through december the<00:05:31.280> public<00:05:31.680> is<00:05:31.759> invited<00:05:32.160> to<00:05:32.320> weigh<00:05:32.639> in 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position:0% ultimately responsible to the public and welcome<00:05:40.240> public<00:05:40.639> input<00:05:40.960> in<00:05:41.120> expressing 00:05:41.670 --> 00:05:41.680 align:start position:0% welcome public input in expressing 00:05:41.680 --> 00:05:43.510 align:start position:0% welcome public input in expressing spending<00:05:42.160> priorities 00:05:43.510 --> 00:05:43.520 align:start position:0% spending priorities 00:05:43.520 --> 00:05:45.189 align:start position:0% spending priorities residents<00:05:44.000> can<00:05:44.160> likewise<00:05:44.720> contact<00:05:45.039> the 00:05:45.189 --> 00:05:45.199 align:start position:0% residents can likewise contact the 00:05:45.199 --> 00:05:46.629 align:start position:0% residents can likewise contact the representatives<00:05:46.080> on<00:05:46.160> the<00:05:46.240> board<00:05:46.479> of 00:05:46.629 --> 00:05:46.639 align:start position:0% representatives on the board of 00:05:46.639 --> 00:05:48.710 align:start position:0% representatives on the board of directors<00:05:47.600> who<00:05:47.759> get<00:05:47.919> to<00:05:48.080> weigh<00:05:48.320> in<00:05:48.560> on<00:05:48.639> the 00:05:48.710 --> 00:05:48.720 align:start position:0% directors who get to weigh in on the 00:05:48.720 --> 00:05:51.270 align:start position:0% directors who get to weigh in on the budget<00:05:49.199> before<00:05:49.520> they<00:05:49.680> vote<00:05:49.919> to<00:05:50.160> approve<00:05:50.479> it 00:05:51.270 --> 00:05:51.280 align:start position:0% budget before they vote to approve it 00:05:51.280 --> 00:05:53.749 align:start position:0% budget before they vote to approve it hi<00:05:51.840> i'm<00:05:52.000> mayor<00:05:52.240> frank<00:05:52.560> scott<00:05:52.880> jr<00:05:53.280> i<00:05:53.440> hope<00:05:53.600> you 00:05:53.749 --> 00:05:53.759 align:start position:0% hi i'm mayor frank scott jr i hope you 00:05:53.759 --> 00:05:55.270 align:start position:0% hi i'm mayor frank scott jr i hope you found<00:05:54.000> this<00:05:54.240> quick<00:05:54.479> overview<00:05:54.880> of<00:05:55.039> how<00:05:55.199> the 00:05:55.270 --> 00:05:55.280 align:start position:0% found this quick overview of how the 00:05:55.280 --> 00:05:57.590 align:start position:0% found this quick overview of how the city<00:05:55.600> makes<00:05:55.919> and<00:05:56.000> spends<00:05:56.400> money<00:05:56.720> useful 00:05:57.590 --> 00:05:57.600 align:start position:0% city makes and spends money useful 00:05:57.600 --> 00:05:59.350 align:start position:0% city makes and spends money useful my<00:05:57.840> administration<00:05:58.479> has<00:05:58.720> always<00:05:59.039> sought<00:05:59.199> to 00:05:59.350 --> 00:05:59.360 align:start position:0% my administration has always sought to 00:05:59.360 --> 00:06:01.110 align:start position:0% my administration has always sought to be<00:05:59.520> responsive<00:06:00.160> and<00:06:00.400> transparent<00:06:00.960> in 00:06:01.110 --> 00:06:01.120 align:start position:0% be responsive and transparent in 00:06:01.120 --> 00:06:03.590 align:start position:0% be responsive and transparent in stewardship<00:06:01.680> of<00:06:01.759> public<00:06:02.160> resources<00:06:03.120> we<00:06:03.360> want 00:06:03.590 --> 00:06:03.600 align:start position:0% stewardship of public resources we want 00:06:03.600 --> 00:06:05.110 align:start position:0% stewardship of public resources we want you<00:06:03.680> to<00:06:03.840> know<00:06:04.080> where<00:06:04.240> your<00:06:04.479> tax<00:06:04.720> dollars<00:06:05.039> are 00:06:05.110 --> 00:06:05.120 align:start position:0% you to know where your tax dollars are 00:06:05.120 --> 00:06:06.950 align:start position:0% you to know where your tax dollars are going<00:06:05.600> and<00:06:05.759> we're<00:06:05.919> happy<00:06:06.240> to<00:06:06.400> answer<00:06:06.720> any 00:06:06.950 --> 00:06:06.960 align:start position:0% going and we're happy to answer any 00:06:06.960 --> 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know what your vision for little rock<00:06:13.039> is<00:06:13.280> and<00:06:13.440> what<00:06:13.600> you<00:06:13.840> think<00:06:14.000> the<00:06:14.160> city's 00:06:14.469 --> 00:06:14.479 align:start position:0% rock is and what you think the city's 00:06:14.479 --> 00:06:16.550 align:start position:0% rock is and what you think the city's spending<00:06:14.800> priorities<00:06:15.280> should<00:06:15.600> be<00:06:16.240> please 00:06:16.550 --> 00:06:16.560 align:start position:0% spending priorities should be please 00:06:16.560 --> 00:06:19.670 align:start position:0% spending priorities should be please email<00:06:16.960> me<00:06:17.199> at<00:06:17.360> mayorscott<00:06:18.160> littlerock.gov<00:06:19.360> or 00:06:19.670 --> 00:06:19.680 align:start position:0% email me at mayorscott littlerock.gov or 00:06:19.680 --> 00:06:23.350 align:start position:0% email me at mayorscott littlerock.gov or please<00:06:20.000> call<00:06:20.400> 501-371-4744 00:06:23.350 --> 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