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AI# 12809  Regular City Council Meeting 6.3. 09/10/2024:

Information

Agenda Item

Ordinance 2nd Reading - Finance: Consider Ordinance No. 2024-O0128, approving and adopting a budget for Fiscal Year 2024-25; approving summary of estimated and forecasted revenues, appropriations, and use of excess reserves for all funds of the city; providing for necessary transfers of funds between accounts and departments, if required; authorizing reduction of spending by City Manager if necessary; re-appropriation of balances which support authorized obligations or encumbrances; providing for filing of Adopted Budget; establishing civil service classifications and positions; appropriating funds for the Fiscal Year 2024-25 Operating Budget and Capital Program of the City of Lubbock; providing for continuation of appropriations for projects in capital program; approving all permit, license, fees, and charges for service recommended to be adjusted; approving the pay plan and positions; approving personnel; amending subsections (a), (b), (c), and (d) of section 4.02.041 of the Code of Ordinances by revising animal service fees as contained therein; amending subsection (a) of section 22.04.041 of the Code of Ordinances by revising the wastewater base charge as contained therein; amending subsection (a) of section 22.04.133 of the Code of Ordinances by revising the sewage disposal permit fee as contained therein; amending subsections (h), (i), (j), and (k) of section 22.04.174 of the Code of Ordinances by revising the septic load fees as contained therein; amending subsections (b) and (c) of section 22.06.051 of the Code of Ordinances of the City of Lubbock by revising the solid waste landfill service fees as contained therein; amending subsection (a) of section 22.06.185 of the Code of Ordinances of the City of Lubbock by revising the solid waste collections service fees as contained therein; providing for the reconciliation of the transfer of funds from the General Fund to Enterprise Funds; accepting the budgets for Lubbock Economic Development Alliance, Market Lubbock, Inc., Civic Lubbock, Inc., and Vintage Township Public Facilities Corporation;  finding that proper notice of meeting provided by law and ratifying such; providing for publication; and providing for a savings clause.

Item Summary

On September 3, 2024, the City Council approved the first reading of the ordinance. This is the second reading of the ordinance adopting the City’s FY 2024-25 Operating Budget and Capital Program.  The budget ordinance must be considered prior to consideration of the tax rate. This ordinance incorporates the operating and capital budgets that have been proposed by the City Manager with the changes that the City Council made at the September 3, 2024 City Council meeting.  The property tax rate proposed by the City Council is $0.470120 per $100 valuation.   Included as Exhibit G in the proposed Budget Ordinance are the changes that have occurred since the FY 2024-25 Operating Budget and Capital Program was filed with the City Secretary on August 7, 2024, and all changes to the FY 2023-24 Adopted Budget and Capital Program that have been approved since the presentation of the FY 2024-25 Budget.

Fiscal Impact

The adoption of this budget sets all revenue and expense appropriation amounts as well as rates and fees for FY 2024-25.

Staff/Board Recommending

Cheryl Brock, Interim Chief Financial Officer

Attachments Budget Ordinance Exhibit B Exhibit C Exhibit D Exhibit E Exhibit F Exhibit G

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