Agenda Item Title:
Title
Administrative Services Department providing options and a recommendation for the implementation of the Fiscal Year 2023-24 budget
Body
Presenter:
Brian Kelley, Administrative Services Director
Body
Description/Background:
Due to the quick turnaround between budget adoption and consideration of this item, presentation materials will not be available until Monday June 26, 2023.
On June 20, 2023 the Council adopted Resolution 23-23C which effectively amended the Tentative Budget and set an increased tax rate (pending a Truth in Taxation Hearing). A final budget cannot be adopted until after the Truth in Taxation Hearing, which is scheduled for August 22, 2023. Between the first day of Fiscal Year 2023-24 (July 1, 2023) and adoption of a final budget (on or after August 22, 2023) the City Administration needs direction regarding which budget to operate from (the amended Tentative Budget or the current fiscal year budget). The Administration also needs direction regarding when and how to implement certain appropriations that are reliant upon an increased tax rate.
The Administrative Services Department will be bringing forward options and a recommendation for the Council to consider during tonight's meeting.
Recommended Action and/or Suggested Motion:
Recommendation
During tonight's meeting, the City Administration is looking for Council direction on:
1. Which budget to operate from between July 1, 2023 and the Truth in Taxation Hearing.
2. When and how to implement certain appropriations that are reliant upon an increased tax rate.