STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: September 18, 2024
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Budget and Management Services
EXECUTIVE: Jack Ireland
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SUBJECT
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Final reading and adoption of the appropriation ordinance appropriating funds for the FY 2024-25 City of Dallas Operating, Capital, and Grant & Trust Budgets - Not to exceed $5,263,461,468 - Financing: General Fund ($1,902,654,000), General Obligation Debt Service Fund ($485,754,134), Capital Funds ($912,273,932), Enterprise/Other Funds ($1,482,754,855), Internal Service and Other Funds ($284,005,397), Grants, Trusts, and Other Funds ($188,972,948), and Employee Retirement Fund ($7,046,202)
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BACKGROUND
In accordance with the Charter of the City of Dallas and prior to August 15, the City Manager recommended a budget to the City Council for the upcoming fiscal year. The fiscal year will begin on October 1, 2024, and end on September 30, 2025.
The budget for Internal Service Funds is included in this action because the funds require budget appropriation for spending. The budget for Internal Service Funds is not included in the budget overview in the budget document or budget briefing materials to prevent the revenues and expenditures from being counted twice in citywide totals as funding is moved from one city fund to another. For example, when a department purchased fuel through Equipment and Fleet Management, it would not be accurate to record this as a citywide revenue and expenditure, as the money is simply moving from one city fund to another.
Additionally, the budget for the Employee Retirement Fund (ERF) is not included in the budget document or briefing materials. The ERF budget is reviewed and approved by the ERF Board of Trustees who are responsible for administering the Fund in accordance with the Dallas City Code, Chapter 40A.
The City Manager presented the recommended annual budget for FY 2024-25 on August 13, 2024. The appropriation ordinance includes amendments that received support from at least eight City Council members through the straw poll process on September 4, 2024. The City Council approved the first reading and appropriation ordinance for the proposed FY 2024-25 Operating, Capital, and Grant & Trust Budgets by Resolution No. 24-1258. The proposed budget was published in the official newspaper of the City, in accordance with the City Charter. This action is the final reading and adoption of the appropriation ordinance for the FY 2024-25 budget.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
The City Council was briefed on the “City Manager’s Recommended Biennial Budget for FY 2024-25 and FY 2025-26” on August 13, 2024.
On February 28, 2024, the City Council authorized a public hearing to be held on August 28, 2024, to receive comments on the FY 2024-25 Operating, Capital, and Grant & Trust Budgets by Resolution No. 24-0318.
On August 28, 2024, City Council held a public hearing to receive comments on the proposed FY 2024-25 Operating, Capital, and Grant & Trust Budgets and authorized a public hearing to be held on September 18, 2024.
City Council was briefed on FY 2024-25 & FY 2025-26 Budget Amendments on September 4, 2024.
On September 4, 2024, City Council approved additional amendments and the first reading of the appropriation ordinance for the proposed FY 2024-25 Operating, Capital, and Grant & Trust Budgets by Resolution No. 24-1258.
FISCAL INFORMATION
General Fund $1,902,654,000
General Obligation Debt Service Fund $ 485,754,134
Capital Funds $ 912,273,932
Enterprise/Other Funds $1,482,754,855
Grants, Trust, and Other Funds $ 188,972,948
Subtotal: $4,972,409,869
Internal Service and Other Funds $ 284,005,397
Employees’ Retirement Fund $ 7,046,202
Subtotal: $ 291,051,599
Grand Total: $5,263,461,468