|
Title:
|
Consider adopting Ordinance No. 3958 approving and adopting a budget and strategic plan for the fiscal year beginning October 1, 2025, and ending September 30, 2026; providing that expenditures for said fiscal year shall be made in accordance with such budget; appropriating and setting aside the necessary funds out of the general and other revenues for the maintenance and operation of various departments and for various activities and improvements of the City; appropriating the various amounts required for such budget; amending the 2024-25 adopted budget; and take appropriate action.
|
Title
Consider adopting Ordinance No. 3958 approving and adopting a budget and strategic plan for the fiscal year beginning October 1, 2025, and ending September 30, 2026; providing that expenditures for said fiscal year shall be made in accordance with such budget; appropriating and setting aside the necessary funds out of the general and other revenues for the maintenance and operation of various departments and for various activities and improvements of the City; appropriating the various amounts required for such budget; amending the 2024-25 adopted budget; and take appropriate action.
Body
REQUESTOR:
City Management
BACKGROUND:
The City Manager is responsible for preparing and submitting a balanced budget that aligns with the City Council's strategic priorities, meets departmental operational needs, and is supported by projected and sustainable revenue sources.
On July 31, 2025, City Management submitted the proposed balanced budget for Fiscal Year 2025-2026. The budget reflects the Council's strategic direction and incorporates sound financial planning principles to ensure long-term fiscal sustainability and service excellence.
This year's proposed budget is further supported by the City's continued strong financial position, as evidenced by the reaffirmation of AAA bond ratings from both Fitch Ratings and S&P Global, representing the highest possible credit rating a municipality can achieve.
On August 12, 2025, and September 2, 2025, the City Management discussed the End-of-Year budget with the City Council. A Town Hall meeting was held on August 26th to present and discuss the budget. Citizen comments were also requested at a public hearing held on September 2nd. The attached information memorandum outlines proposed changes to the current Fiscal Year 2024-25 Budget.
Based on the Council's feedback and direction, this agenda item will present the end-of-year proposed adjustments to the FY 2024-25 budget.
Next Key Steps in the Budget Process:
July 25 Tax roll certification (Dallas County)
July 31 Proposed budget submission by City Manager
August Vote for Public hearings - 8/19/2025
Budget Town Hall - 8/26/2025
September: Public hearings and Council adoption of the budget and tax rate
DISCUSSION:
Ordinance 3958 amends the Fiscal Year 2024-25 Budget to a level consistent with the City's most current estimate of revenues and expenditures and establishes the Fiscal Year 2025-26 Operating and Capital Improvement Program Budget.
Property Tax Code Section 26 and Texas Local Government Code Chapters 102 and 111 have requirements, notices, and/or motions that must be followed related to the budget and tax rate adoption process. All applicable laws and City Charter provisions necessary for the adoption of the budget have been followed. The proposed budget meets all financial objectives and fund balance targets of the City on a most realistic budget basis. This ordinance supports the core principle to "be good custodians of taxpayer dollars."
FISCAL IMPACT:
Financial Impact - Total Operating & Capital Expenditure Budget of $169,968,734.
DISTRICT:
Citywide
POSSIBLE COUNCIL ACTION:
1. I move to approve Ordinance No. 3958 as presented. (Take record vote).
2. I move to approve Ordinance No. 3958 with modifications. (Take record vote).
ATTACHMENT(S):
1. Budget Ordinance Information Memo - FY 2025-26
2. Ordinance No. 3958
3. Fiscal Year 2025-26 Operating & Capital Budget & Exhibit A
4. Budget Documentation 06/24/2025-08/26/2025
5. After-Action Report - Budget Public Hearing & EOY - 9/2/2025
6. Presentation