Title
Discuss and consider action to approve an ordinance on first and final reading with the caption reading: An Ordinance of the City of Pflugerville, Texas adopting the Fiscal Year 2025 Budget for the City of Pflugerville, Texas.
Summary
The City of Pflugerville City Charter and Local Government Code (§102.0065) require that a public hearing be held on the proposed fiscal year budget before it is adopted. The attached notice regarding the public hearing was published on the City website (www.pflugervilletx.gov) beginning August 15, 2024 and will continue until the adoption of the budget. The notice was also published in the Pflugerville Pflag on August 14, 2024.
Copies of the FY25 proposed budget are available for public inspection on the City's website at https://www.pflugervilletx.gov/budget.
The proposed budget was published on August 14, 2024 for public inspection as required by Texas Local Government Code 102.005.
Based on the certified property values received from the Travis and Williamson Central Appraisal Districts, the Travis County Tax Office has calculated the Voter Approval Rate at $0.5428/$100 valuation. The FY25 budget proposed for adoption includes a rate of $0.5428/$100 valuation. A public hearing on the tax rate will be held on September 24, 2024 and adoption will occur in a separate item following adoption of the budget on the same night.
All required notices have been published. The required public hearing must be conducted prior to the adoption of the budget scheduled for September 24, 2024. The City Attorney's Office has reviewed this ordinance and has approved it as to form.
The FY25 Proposed Budget was presented to the Finance and Budget Committee on August 21, 2024.
Total General Fund revenue is $4.1M less than total proposed expenditures. One-time purchases for Capital Outlay items total $3.1M plus a $1.0M transfer to General Fund Capital Projects Fund. The one-time purchases for capital outlay will be funded from available Fund Balance over the target reserve amount. Per the City Charter and Finance Policy a minimum of 25% Fund Balance is required. During budget strategy sessions, budget assumptions were set at a target fund balance for the General Fund at 35%. Funding the proposed capital outlay draws the funding balance reserve down to the 35% target.
Prior City Council Action
FY25 Proposed Budget presented August 13, 2024.
Budget Public Hearing held August 27, 2024.
Deadline for City Council Action
Action is required on first and final reading to adopt the budget on September 24, 2024.
Legal Review Required: N/A X_ Required __ Date Completed:
Supporting documents attached:
Budget Ordinance
Exhibit A - FY25 Budget
Recommended Action
Staff recommends approval of this ordinance on first and final reading with the caption reading: An Ordinance of the City of Pflugerville, Texas adopting the Fiscal Year 2025 Budget for the City of Pflugerville, Texas.