AGENDA TITLE:
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Adopt a Resolution Approving Fiscal Year 2024/25 Financial Plan and Budget; Approving the Fiscal Year 2024/25 Appropriation Spending Limit; Approving the Classifications, Job Descriptions, and Salary Ranges for four New Positions; and Approving the Fiscal Year 2024/25 Investment Policy (Budget)
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MEETING DATE:
June 5, 2024
PREPARED BY:
Lisa Noffsinger, Budget Manager
recommendation
RECOMMENDED ACTION:
Adopt a resolution approving Fiscal Year 2024/25 Financial Plan and Budget; approving the Fiscal Year 2024/25 Appropriation Spending Limit; approving the classifications, job descriptions, and salary ranges for four new positions; and approving the Fiscal Year 2024/25 Investment Policy.
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BACKGROUND INFORMATION:
Staff presented information regarding the Fiscal Year ("FY") 2024/25 budget at Special Meetings on April 30, May 14 and May 21. The draft budget document was made available to Council and released online on May 24, 2024. The full proposed budget is available on the City's webpage at: https://city-lodi-ca-budget-book.cleargov.com/16366.
The General Fund for FY 2024/25 is presented with revenues and expenditures of $83,606,240. The remaining fund expenditures are shown in Table 1, bringing the City's total FY 2024/25 budget to $276,676,890.
Staffing Changes - The budget proposes 462 full time employees, a net increase of ten (10) from FY 2023/24 authorized positions. The recommended changes are shown in Table 2:
* Add (1) Facilities Maintenance Worker - this position is being requested for Public Works to assist with the additional maintenance burden of aging infrastructure and the addition of three new facilities which include the Animal Shelter, Access Center, and 22 S Main St. affordable housing project. The position is being funded this budget year using funds designated annually for General Fund capital projects in an effort to keep up on maintenance of these buildings before it becomes deferre...
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