|
Item 1.
|
| Date: | 05/06/2024 |
| Title: | FY2025 Budget Overview |
| Presented by: | Andy Zoeller, Finance Director |
| Department: | Finance |
| Presentation: | Yes |
| Legal Review: | Not Applicable |
| Project Number: | N/A |
RECOMMENDATION
Staff will provide an overview of the proposed FY24 City of Billings budget.
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
City administration will begin budget presentations with an overview of the proposed FY25 budget. Each year, the City Administrator along with City staff present the budget to City Council, with the goal of adopting an annual budget in June. This process began in late 2023, when the City Council adopted the Capital Improvement Plans. The budget overview will occur on Monday, May 6th followed by presentations from departments on May 7, 20, and 21.
The City Council Budget and Finance Committee has been meeting over the past month to begin reviewing certain areas and obtaining detailed information from departments to help provide recommendations to Council. City staff along with the City Council Committee have developed a proposed schedule of presentations to Council. A recommendation to provide, in lieu of a formal presentation, a written overview from some departments is recommended. You will find attached budget overviews for every department included within the budget. The departments that are not currently scheduled to present to Council are Parking, Building, IT, Fleet, and both of the Business Improvement Districts (TBID & DBID). If, after reviewing these overviews, there is a desire for a formal presentation from some departments, one will be scheduled.
The proposed budget summary found beginning on page 1 of the proposed budget provides a comprehensive overview of the proposed FY25 budget. The entire budget is attached and is also available to the public online at www.billingsmt.gov/475/Budgets-Financial-Reports.
Council Amendment Process:
The Finance and Budget Committee is recommending a similar process to last year when it comes to amending the budget. An amendment form for each council member will be created and shared on Microsoft OneDrive. You will receive a link which will allow you to access the folder. You will be able to view each Council Members amendment file, but only be able to edit your own. There are currently 6 blank forms in each Council Members file, but you’re welcome to duplicate it as many times as necessary. Completion of this form will not constitute an official amendment, as that will need to occur in the form of a motion for the adoption of the budget. Additionally, lack of completing a form does not preclude a Council Member from making a motion to amend the budget at the meeting. The main purpose of this process is to provide staff and Council information ahead of time to be prepared to discuss amendments that may be made at the meeting.
These forms will be included as part of future work session packets and available to the public.
The City Council Budget and Finance Committee has been meeting over the past month to begin reviewing certain areas and obtaining detailed information from departments to help provide recommendations to Council. City staff along with the City Council Committee have developed a proposed schedule of presentations to Council. A recommendation to provide, in lieu of a formal presentation, a written overview from some departments is recommended. You will find attached budget overviews for every department included within the budget. The departments that are not currently scheduled to present to Council are Parking, Building, IT, Fleet, and both of the Business Improvement Districts (TBID & DBID). If, after reviewing these overviews, there is a desire for a formal presentation from some departments, one will be scheduled.
The proposed budget summary found beginning on page 1 of the proposed budget provides a comprehensive overview of the proposed FY25 budget. The entire budget is attached and is also available to the public online at www.billingsmt.gov/475/Budgets-Financial-Reports.
Council Amendment Process:
The Finance and Budget Committee is recommending a similar process to last year when it comes to amending the budget. An amendment form for each council member will be created and shared on Microsoft OneDrive. You will receive a link which will allow you to access the folder. You will be able to view each Council Members amendment file, but only be able to edit your own. There are currently 6 blank forms in each Council Members file, but you’re welcome to duplicate it as many times as necessary. Completion of this form will not constitute an official amendment, as that will need to occur in the form of a motion for the adoption of the budget. Additionally, lack of completing a form does not preclude a Council Member from making a motion to amend the budget at the meeting. The main purpose of this process is to provide staff and Council information ahead of time to be prepared to discuss amendments that may be made at the meeting.
These forms will be included as part of future work session packets and available to the public.
ALTERNATIVES
No Council action will be required at this meeting
FISCAL EFFECTS
After multiple presentations, the budget will be proposed to City Council for adoption at a regular City Council meeting in June. The current proposed budget for FY25 is $473,696,709. A summary by fund can be found on pages 1-13 of the attached budget proposal.
.png)
| FY25 Proposed Budget | |
| Personal Services | $ 115,733,330 |
| Operation and Maintenance | 126,093,665 |
| Capital Outlay | 170,719,720 |
| Debt Service | 24,319,375 |
| Transfers Out | 36,830,619 |
| $ 473,696,709 |