Title
Consider an ordinance adopting the Annual Budget for the City of Killeen for the fiscal year beginning October 1, 2022 and ending September 30, 2023.
Summary
DATE: September 6, 2022
TO: Kent Cagle, City Manager
FROM: Miranda Drake, Director of Budget
SUBJECT: FY 2023 Budget Adoption
BACKGROUND AND FINDINGS:
Article V. of Killeen's City Charter requires the City Manager to submit a proposed budget to City Council that provides a complete financial plan for the upcoming fiscal year. The proposed FY 2023 Budget was submitted to City Council on July 5, 2022. A budget workshop was held on July 5, 2022 to provide City Council and citizens a thorough overview of the proposed budget. City Council has discussed the budget nearly every week since the budget was submitted by the City Manager. In addition, a special City Council workshop was held on July 18, 2022 and a budget public forum was held on July 19, 2022.
State law and the City Charter require a public hearing be held to elicit citizen comment on the proposed budget. A public hearing was held on July 26, 2022. The City Charter also states that City Council may insert additional items and make increases to the City Manager's proposed budget as long as there is a public hearing held on the changes.
Changes made to the proposed FY 2023 Budget required an additional public hearing to be held on September 6, 2022. Below is a list of those changes:
? General Fund revenue and expenditure budget increased from $112,540,353 to $112,895,420. The net increase includes 1Star Foundation Grant ($73,500), cost for additional election in November which will be offset by interest income ($15,000), and adding the American Rescue Plan Act (ARPA) funded programs for Youth Employment Program ($216,567) and Downtown Events ($50,000).
? Community Development Block Grant (CDBG) Fund expenditure budget decreased from $3,413,717 to $3,401,667 which is a net decrease of $12,050. This moves the reserve appropr...
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