HomeMy WebLinkAboutItem 12 - FY 24-25 Budget MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: SEPTEMBER 17, 2024
SUBJECT: ADOPTION OF FISCAL YEAR 2024/2025 ANNUAL OPERATING
BUDGET
RECOMMENDATION: City Council to consider an ordinance adopting the Fiscal Year 2024/2025
City of Grapevine Annual Operating Budget.
FUNDING SOURCE: N/A
BACKGROUND: The FY2024/2025 annual operating budget, as proposed, is presented for
your consideration. The budget includes the programs discussed at the
City Council Budget Workshop held on August 13 and the Public Hearing
held on September 17.
The budget contains fund expenditures in the following amounts:
100 General Fund $ 88,581,632
115 Convention and Visitors Bureau Fund 27,510,823
215 Convention and Leisure Incentives Fund 5,009,419
116 Stormwater Drainage Utility Fund 2,182,679
117 Crime Control and Prevention District Fund 24,229,388
119 Lake Parks Special Revenue Fund 3,401,294
120 4B /Trinity Metro Fund 15,937,500
124 Economic Development Fund 5,654,215
130 Debt Service Fund 17,069,600
174 Permanent Capital and Street Maintenance Fund 4,899,450
200 Water and Wastewater Utility Fund 39,850,115
210 Golf Course Fund 7,139,400
The budget presented requires a tax rate of $0.241165. The resolution
approving the proposed property tax rate was presented at the August 20
City Council meeting. The ordinance to adopt the tax rate will be
considered at the September 17 City Council meeting.
Staff recommends approval.
GWL
ORDINANCE NO. 2024-077
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS ADOPTING THE BUDGET FOR THE
CITY OF GRAPEVINE, TEXAS FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 2024 AND ENDING
SEPTEMBER 30, 2025; PROVIDING FOR INTRA- AND
INTERDEPARTMENTAL FUND TRANSFERS; PROVIDING
FOR INVESTMENT OF CERTAIN FUNDS; DECLARING AN
EMERGENCY; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, a notice of public hearing on the budget for the City of Grapevine,
Texas for the Fiscal Year 2024-2025 (FY 2025) was heretofore published in accordance
with law; and
WHEREAS, a public hearing was duly held and all interested persons were given
an opportunity to be heard for or against any item therein; and
WHEREAS, all constitutional and statutory prerequisites for the approval of this
ordinance have been met, including but not limited to the Open Meetings Act; and
WHEREAS, the City Council deems the adoption of this ordinance is in the best
interests of the health, safety and welfare of the public.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS;
Section 1 . That all matters stated herein above are found to be true and correct
and are incorporated herein by reference as if copied in their entirety.
Section 2. That the appropriation amounts for the FY2024-2025 budget for the
different funds of the City of Grapevine are hereby fixed as follows:
100 General Fund $ 88,581,632
115 Convention & Visitors Bureau Fund 27,510,823
215 Convention & Leisure Incentives Fund 5,009,419
116 Stormwater Drainage Fund 2,182,679
117 Crime Control & Prevention District Fund 24,229,388
119 Lake Parks Special Revenue Fund 3,401,294
120 4-B / Trinity Metro Fund 15,937,500
124 Economic Development Fund 5,654,215
130 Debt Service Fund 17,069,600
200 Utility Enterprise Fund 39,850,115
210 Golf Enterprise Fund 7,139,400
174 Permanent Capital Maintenance Fund 4,899,450
Section 3. That the City Council hereby adopts the revised budget for the fiscal
year ending September 30, 2024 and the proposed Annual Operating Budget for the fiscal
year ending September 30, 2025 and appropriates the funds contained therein.
Section 4. That a copy of the official adopted FY2024-2025 budget document
shall be kept on file in the office of the City Secretary and the City of Grapevine website.
Section 5. That the City Manager be and is hereby authorized to make intra and
inter-departmental fund transfers during the fiscal year as becomes necessary in order to
avoid over-expenditure of a particular object code.
Section 6. That the City Manager is authorized to approve expenditures up to
$15,000. Any expenditure over the $15,000 limit requires the approval of the City Council.
Section 7. That the City Manager is authorized to reclassify personnel positions
within city service as warranted.
Section 8. That the City Manager, and/or Assistant City Manager and/or Chief
Financial Officer and/or designated investment officer are authorized to invest any funds
not needed for current use, whether operating funds or bond funds in Official City
Depositories, in any investment instrument authorized by the City's Investment Policy and
Investment Strategy and allowed by the Texas Public Funds Investment Act.
Section 9. That the reserve requirement for the Golf Enterprise Fund is
suspended for FY2024 and FY2025.
Section 10. That the fact that the fiscal year begins on October 1 , 2024 requires
that this ordinance be effective upon its passage and adopted to preserve the public
peace, property, health and safety and shall be in full force and effect from and after its
passage and adoption, and an emergency is hereby declared.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 17th day of September, 2024.
APPROVED:
William D. Tate
Mayor
Ordinance No. 2024-077 2
ATTEST:
Tara Brooks
City Secretary
APPROVED AS TO FORM:
Matthew C.G. Boyle
City Attorney
Ordinance No. 2024-077 3