Title
Approval of an Ordinance Adopting the 2024 Operating, Special Funds, Capital Budget and Capital Facilities Plan: 2024-2029 Financial Plan
Recommended Action
Committee Recommendation:
Finance Committee recommends adoption of the 2024 Operating, Special Funds, Capital Budget and Capital Facilities Plan: 2024-2029 Financial Plan.
City Manager Recommendation:
Move to approve on second reading, an ordinance adopting the 2024 Operating, Special Funds, Capital budgets and the Capital Facilities Plan: 2024-2029 Financial Plan.
Report
Issue:
Whether to approve on second reading, an ordinance adopting the 2024 Operating, Special Funds, Capital budgets and the Capital Facilities Plan: 2024-2029 Financial Plan.
Staff Contact:
Aaron BeMiller, Finance Director, 360.753.8465
Joan Lutz, Budget and Finance Manager, 360.753.8760
Presenter(s):
Joan Lutz, Budget and Finance Manager
Background and Analysis:
There were no changes to the ordinance from first to second reading.
State law requires the City Manager to present a balanced Preliminary Operating Budget and Capital Budget to Council each year. By State law, the budget must be adopted no later than December 31. The City Council's Finance Committee met throughout the year to review, discuss and provide direction to the City Manager on the 2024 Preliminary Operating Budget, Capital Budget and the Capital Facilities Plan (CFP) which includes the 2024-2029 Financial Plan.
Operating Budget
The Preliminary Operating Budget was presented to Council on September 26th. A public hearing on Ad Valorem was held on October 30 and a public hearing on the Operating Budget on October 17 and November 14. Finance Committee met on November 15th to prepare a final recommendation which was presented to the full Council on November 21. Since the Preliminary Operating Budget was presented on September 26, adjustments in revenues and expenditures were made. Major changes to the Operating Budget were discussed with Council on November ...
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