COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Jill Olsen, Administrative Services Director
SUBJECT:Title
Adopt Resolution No. 24-3758 Adopting the Fiscal Year 2024-25 Final Budget (Jill Olsen)
Body
FUNDING SOURCE:
Various Departments
PURPOSE:
To adopt the Fiscal Year 2024-25 Final Budget.
BACKGROUND:
Attached for City Council adoption is a resolution and state budget forms for the Fiscal Year 2024-25 Final Budget. The City Council adopted the Fiscal Year 2024-25 Tentative Budget on June 11, 2024. The adopted Tentative Budget was duly published as required by state law on June 18, 2024, and June 25, 2024.
Today, City Council meets to adopt the Fiscal Year 2024-25 Final Budget. At this meeting, any taxpayer is privileged to appear and be heard in favor of or against any of the proposed expenditures or estimated tax levies. The tax rate for Fiscal Year 2024-25 remains the same as the rate for Fiscal Year 2023-24. The Final Budget for Fiscal Year 2024-25 is $257,759,482.
The City Council will meet on July 9, 2024, for the purpose of adopting the tax levy rates:
City Property Tax: $0.6718
Rate Per $100 Primary Assessed Value
The City Council will meet on July 9, 2024, for the purpose of adopting the tax levy for special district:
Improvement District No. 2: $0.7370
Rate Per $100 Primary Assessed Value
COMMUNITY IMPACT:
The budget is developed as a spending plan for outlining priorities and providing services to the community.
FISCAL IMPACT:
Fiscal Year 2024-25:
Projected expenditures of $257,759,482
Projected revenues of $189,679,257
ATTACHMENTS:
Resolution No. 24-3758
Fiscal Year 2024-25 State Budget Forms, Schedules A through G
Final Budget Adoption Presentation
SUGGESTED MOTION:Recommended Action
I move to adopt Resolution No. 24-3758 adopting the Fiscal Year 2024-25 Budget in the amount of $257,759,482.