SUBJECT
This ordinance adopts the operating budget for the fiscal year beginning July 1, 2024.
EXECUTIVE SUMMARY
The City Charter requires a public hearing regarding the proposed city budget be held each year before the budget is adopted. This hearing is schedule for the June 3, 2024 City Council meeting.
BACKGROUND/DISCUSSION
All material items included in this proposed budget have previously been communicated. this budget proposes changes to the City's Fees as per the Fee Schedule included; details begin on page 269 of the budget.
This budget proposes increases to water and solid waste fees.
A separate ordinance will be needed to approve these increases. The property tax levy will be adopted in August after a public hearing has been held.
FINANCIAL IMPACT
SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS
STAFF RECOMMENDATION
Staff recommends approval of the ordinance to adopt the annual operating budget. Any desired changes to the budget should be specifically agreed to at this meeting or no later than the June 17, 2024 City Council meeting before the final readings of the budget ordinance.
BOARD OR COMMISSION RECOMMENDATION
PUBLIC OUTREACH
The 2024-2025 Proposed Operating Budget is on the City's web page at cityofcape.org/finance. It is also available for review in the City Clerk's office.
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