TO: Mayor and Commission AGENDA DATE: 9/16/2024
FROM: City Manager AGENDA ITEM: 6 - B
SUBJECT:
Title
Public Hearing - Resolution No. 2024-51, Adopting the Final Annual Budget - Annual Budget for FY 2024/2025.
Strategic Goal: Effective Governance and Productive Government
Body
LOCATION:
Citywide
COST:
$147,080,100 Citywide
SOURCE OF FUNDS:
Fiscal Year 2024/2025 Annual Budget
ORIGINATING DEPARTMENT:
Finance Department
POTENTIAL MOTION:
Recommendation
“I move to approve Resolution No. 2024-51 adopting the Final Budget for Fiscal Year 2024/2025.”
END
BACKGROUND:
Background
State law requires that the City hold a public hearing on the final budget within 15 days after the adopting the tentative budget, the taxing authority shall advertise in a newspaper of general circulation in the county, its intent to finally adopt a millage rate and budget. A public hearing to finalize the budget and adopt a millage rate shall be held not to less than 2 days nor more than 5 days after the day that the advertisement is first published. During the hearing, the governing body of the taxing authority shall amend the adopted tentative budget as it sees fit, adopt a final budget, and adopt a resolution stating the millage rate to be levied.
At this hearing, the City:
• Will adopt a final budget for Fiscal Year 2024/2025.
• Will adopt a budget Resolution Number 2024-51.
Upon approval of this item, authorizes all necessary actions, documents or budget transfers to facilitate Commission approval and further authorizes the City Manager to sign any documents necessary to further Commission approval of this item.
End