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Title:
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Discuss End-of-Year Budget Adjustments for FY 2024-25.
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Title
Discuss End-of-Year Budget Adjustments for FY 2024-25.
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 05, 2025, and August 12, 2025, the City Management discussed the End-of-Year budget with the City Council. 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
ATTACHMENT(S):
1. Budget Memorandum
2. FY - 2025-26 - DRAFT Strategic Plan
3. After-Action Report from Strategic Plan - 2-25-2025
4. Budget Workshop - After-Action Report - 6-24-2025
5. Budget Discussion - After-Action Report - 7-15-2025
6. FY - 2025-26 - Proposed Budget - 7-31-2025
7. Budget Roundtable - After-Action Report - 08-12-2025
8. Presentation