FOCUS AREA: Economy
Staff Contact: Jamie Robichaud/Jarrod Stewart
Subject: General Overview of the Proposed 2025 General Fund, Library, Fund, and Debt Service Budget, 2025-2029 Capital Improvement Plan (CIP) for Vertical and Transportation projects, and the Chamber of Commerce.
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Item Description:
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General Overview of the Proposed 2025 General Fund, Library, Fund, and Debt Service Budget, 2025-2029 Capital Improvement Plan (CIP) for Vertical and Transportation projects, and the Chamber of Commerce.
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Summary:
The Budget Workshop on June 25th is an opportunity for the City Council to review revenues, expenditures, capital improvement plan in greater detail for the General Fund, Library Fund, Debt Service Fund, and 2025-2029 Capital Improvement Plan.
The remaining proposed budget calendar is as follows:
• July 16th - Budget Workshop #2 - Proposed 2025 Water & Sewer Fund budget, CIP, and fees; Consideration of resolution to exceed revenue-neutral rate (RNR).
• August 6th - Budget Workshop #3 - Proposed Stormwater, Solid Waste, Recreation, Park Sales Tax and Street Maintenance Sales Tax budgets, CIP, and the Comprehensive List of Fees.
• August 27th - Revenue Neutral and Budget Public Hearing.
• September 3rd - City Council Adoption of 2025 Budget, 2025-2029 CIP, and 2025 Fee Schedule.
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Financial Impact:
The 2025 proposed General Fund budget is approximately $194.1 million.
The 2025 proposed Library Fund budget is approximately $13.4 million.
The 2025 proposed Debt Service Fund budget is approximately $124.5 million.
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Action Needed:
Discussion of the 2025 Proposed Budget.
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Attachment(s):
None; information will be provided at the meeting and made available at <https://www.olatheks.org/government/budget>.