Title
Consider adopting Ordinance No. 3653 approving and adopting the City's 2020-21 Operating and Capital Improvement Program Budget and Strategic Plan and amending the City's 2019-20 Operating and Capital Improvement Budget; and take appropriate action
Body
BACKGROUND:
On July 31, 2020, the Proposed Fiscal Year 2020-21 Operating and Capital Improvement Program Budget was delivered to the City Council and copies were made available for public review at the Farmers Branch Manske Library, Farmers Branch Police Station, and on the City's Website.
The proposed budget was discussed with City Council during a budget retreat held August 11th and August 12th, and during work sessions held August 24th, September 15th, and earlier this evening. Citizen comments were also requested at a public hearing held earlier this evening.
The attached information memorandum identifies staff changes and City Council recommendations that have been incorporated into the proposed budget since it was submitted on July 31, 2020 and outlines changes made to the 2019-20 budget in response to the global COVID-19 pandemic.
DISCUSSION:
Ordinance No. 3653 establishes the Fiscal Year 2020-21 Operating and Capital Improvement Program Budget and Strategic Plan and amends the Fiscal Year 2019-20 Budget to a level that is consistent with the City's most current estimate of revenues and expenditures.
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 process. All applicable laws and City Charter provisions necessary for 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 City's guiding principle of Financial Stewardship.
FISCAL IMPACT:
1. Financial Impact - Total Operating & Capital Expenditure Budget of $141,255,868.
RECO...
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