PPT Item # 8 - FY2024.2025 Budget & Schedule hearing

Powerpoint FY2024.2025 Budget & Schedule Hearing

1. ADMINISTRATION AND
FINANCE
Presented by:
Robert Galindo
Finance Director
PROPOSED FY 2024-2025 BUDGET
ITEM # 8
AUGUST 12, 2024

2. PROPOSED FY 2024 –2025 BUDGET
In accordance with Texas State law and generally
accepted accounting standards, the City adopts a
balanced budget for each fiscal year.
The Budget is required to cover only those expenditures
with revenue for which the City has authority to levy –
Creating a Balanced Budget.
Schedule a Public Hearing for the proposed budget.
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3. BUDGETARY POLICY
TheProposedFY2024-2025BudgetRevenuescover
operatingexpendituresandcreatesworkingcapitalof
$315,274.
ThisworkingcapitalcanbereturnedtotheFundBalance
ordesignatedtofundcapitalassetsorotherprojects.
Theproposedbudgetdoesincludeanincreasetothe
residentialgarbagefeeto$20/monthandnon-residential
$30/month.OnOctober1,2026thegarbagefeewill
increaseby$5toresidential$25/monthandnon-
residential$35/month.
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4. SUMMARY OF PROPOSED BUDGET FY 2024-25
Tax Rate
General Fund Budget
Comprehensive Fund, Capital Projects, Street Maintenance Fund &
Capital Replacement Fund
Utility Fund Revenues and Allocations
Capital Projects Fund
Questions or Guidance to Staff on Final Budget
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5. GENERAL FUND PROPOSED BUDGET
FY 2024-25
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Beginning Fund Balance estimated 10-01-24$ 6,387,878
Operating Revenues $13,542,140
Departmental Allocations -13,226,866
Remaining Funds Available $ 315,274
Projected Ending Fund Balance 09-30-25 $6,703,152
The Government Finance Officers Association (GFOA) recommends at least a 25% Fund Balance of the General Fund
operating budget. The General Fund had a fund balance of 57% at the end of 9-30-23. The fund balance allows the city to
withstand any unforeseen disasters and emergencies. It also saves thousands of dollars in interest costs if the city issues bonds
because the city has a AAA rating from S&P mainly due to the fund balance being in good standing, the economy is stable and
strong management.

6. PROPOSED UTILITY FUND BUDGET FY 2024-25
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Projected Beginning Fund Balance 10-01-24$2,480,740
Revenues $5,507,576
Operating Expenses -5,487,739
Working Capital $19,837
Projected Fund Balance 09-30-25 $2,500,577

7. Funding Summary
Comprehensive
Plan
Street
Maintenance
Capital Projects Capital
Replacement
ProjectedFund Balance
10/1/24
$ 1,579,175 $ 685,416(3) $15,225,268$ 911,390
Transfer in/Revenue $ 50,000(2) $ 868,811 $ 405,632 $ 215,607
Expenditures (1)- $ 1,450,000 -$1,000,000(4) -$ 25,000 (5) -$498,608
Projected Ending Balance
9/30/25
$ 179,175$ 554,227$15,605,900$ 628,389
OTHER GOVERNMENTAL FUNDS PROPOSED FY 2024-25
1)Beautification $1.4 million, Community grant program $50,000 fund must be used by 09-30-25
2)Street Maintenance estimated dedicated ½ cent sales tax revenue
3)2021 Taxable bond proceeds of $13,250,000 are included in Capital Projects Fund balance
4)Olmos Basin Cleanup $25,000
5)Capital Replacement –IT $28,000, Ambulance $204,700, Stretcher $43,000, Police Body Worn Cameras Lease
$25,816, Police Mobile Cameras $32,092, EMS $75,000 future ambulance, Half Cost for Dump Truck $90,000
split with Utility Fund
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8. NEXT STEPS
CouncilvotestosetaPublicHearingforthe
proposedFY2024-2025BudgetonAugust26,
2024.
Councilvotestohaveanactionitemtoadoptthe
proposedFY2024-2025BudgetonAugust26,
2024.
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9. COUNCIL ACTION NEEDED
ImovetheCityholdapublichearingforthe
ProposedFY2024-2026BudgetonAugust26,
2024.
ImovetheCityhaveanactionitemtoadoptthe
ProposedFY2024-2025BudgetonAugust26,
2024.
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