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AI# 11778
Regular City Council Meeting
7.3.
08/08/2023:
Information
Agenda Item
Budget Ordinance Amendment 2nd Reading - Finance:
Consider Budget Ordinance No. 2023-O0090, Amendment 28, amending the FY 2022-23 Budget for municipal purposes respecting the Operating Budget for Lubbock Economic Development Alliance, Market Lubbock, Inc., Visit Lubbock, and Lubbock Sports Authority; providing for filing; and providing for a savings clause.
Item Summary
On July 25, 2023, the City Council approved the first reading of the ordinance.
I. Amend the FY 2022-23 Lubbock Economic Development Alliance, Inc. Operating Budget as shown in Exhibit A.
II. Amend the FY 2022-23 MLI - Visit Lubbock and Sports Authority Operating Budget as shown in Exhibit B.
Budget Amendment 28 includes a revision to the operating budgets for Lubbock Economic Development Alliance, Inc. (LEDA) and Market Lubbock, Inc. (MLI) - Visit Lubbock and Lubbock Sports Authority. This essential procedure is conducted each year to ensure the effective allocation of resources and to support the growth and development of the City. Individual reasoning for operating budget revisions are included in both Exhibit A and Exhibit B.
Fiscal Impact
Included in Item Summary
Staff/Board Recommending
D. Blu Kostelich, Chief Financial Officer
Attachments
Budget Amendment 28
Exhibit A
Exhibit B
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