Subject:
Title
8:00 p.m. - 8:15 p.m. Public Hearing for 2024-25 Operating Budget
Body
DATE(S) OF PRIOR COUNCIL CONSIDERATION OF THIS ISSUE:
Council work sessions on March 11 and March 16, 2024
EXPLANATION AND SUMMARY:
The Town Manager's proposed budget for fiscal year 2024-25 has been presented to the Mayor, Town Council, and residents. The proposed budget was reviewed by Town Council during conference sessions on March 11 and 16, 2024. This public hearing is held so that Town of Vienna citizens may provide public input.
The Town Manager's proposed FY 2024-25 budget reflects current economic conditions expected over the next 12 to 24 months, and the top-ranked new initiatives as identified by Council. The general fund budget includes no change in the real estate tax rate of $0.195 per $100 of assessed value and increases in salaries and other costs to meet current economic conditions.
The proposed fiscal year 2024-25 Town of Vienna budget totals $53,766,620 for the fiscal year beginning July 1, 2024 and ending June 30, 2025, and is broken down as follows:
General Fund $33,074,250
Debt Service Fund $ 6,511,700
Water & Sewer Fund $13,410,950
Stormwater Fund $ 769,720
Total $53,766,620
Next Steps: Adoption scheduled for May 20, 2024
Departmental Recommendation: The Finance Department recommends a public hearing to allow an opportunity for Town of Vienna citizens to comment on the FY 2024-25 proposed budget.
Finance Recommendation: The Finance Department recommends a public hearing to allow an opportunity for Town of Vienna citizens to comment on the FY 2024-25 proposed budget.
Purchasing Recommendation: N/A
Town Attorney Recommendation: Pursuant to the Virginia State Code and the Town Code, the Town is required to conduct a public hearing on the proposed Town Fiscal Year 2024-25 Budget.
Town Manager's Recommendation: I recommend the Town Council close the public hearing and move the Town Clerk be directed to advertise a Notice of Intent to Adopt the Fiscal Year 2024-2025 Budget at the May 20, 2024 Town Council meeting, as presented.
Cost and Financing: $53,766,620
Account Number: various
Prior Funding Approval: Annual General Budget (Year), Amendments, CIP Budget (Year), or ARPA. Annual operating budget for 2024-25
Decision Needed by This date: April 8, 2024
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to close the public hearing "
And
“I further move that the Town Clerk be directed to advertise a Notice of Intent to Adopt the Fiscal Year 2024-25 Budget at the May 20, 2024 Town Council meeting, following Town Council’s consideration of the real estate tax rate.”
Or
Other action deemed necessary by Council.