Presentation and discussion of the Proposed FY 2021-22 Operating Budget and Capital Program, and discuss all funds of the City, including but not limited to General Fund, Debt Service Fund, Internal Services, Enterprise Funds, Special Revenue Funds, Component Units, Related Entities, Debt and Debt Obligations, Capital Improvement Program, and related and associated items; and take action to direct the City Manager to make changes to said Budget.
John Osborne, president and chief executive officer for Lubbock Economic Development Alliance (LEDA) and Market Lubbock, Inc., gave a presentation and answered questions from City Council on the proposed budget for LEDA, Market Lubbock, Inc., Visit Lubbock, and Lubbock Sports Authority. Rafael Gutierrez, chair of the Civic Lubbock, Inc. Board of Directors, gave a presentation and answered questions from City Council on the proposed budget for Civic Lubbock, Inc. Blu Kostelich, chief financial officer, gave a presentation and update on the Lubbock Business Park TIF financial model and answered questions from City Council.
Jarrett Atkinson, city manager, gave comments and answered questions from City Council.
Discussion ensued among City Council regarding the presentation, requests for additional information on various topics, and further direction to the City Manager, as it relates to the budget. Direction was given to staff to add further discussions related to water rates and elevated storage tanks to the August 10, 2021, work session, while also directing staff to hold funds for the Comprehensive Fiscal Analysis in reserves until further discussion and study can be completed. In addition, Mr. Atkinson reviewed the timeline and procedures for the upcoming budget adoption process.