AGENDA TITLE:
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Study Session for the City of Lodi Annual Budget for Fiscal Year 2024-2025 (CM)
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MEETING DATE:
June 13, 2024
PREPARED BY:
Olivia Nashed, City Clerk
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RECOMMENDED ACTION:
Study Session for the City of Lodi Annual Budget for Fiscal Year 2024-2025, to address City Council questions and discuss elements of the proposed budget prior its scheduled adoption.
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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 FY 2024-2025 budget was first presented for Council consideration at the June 5, 2024 Regular Meeting. City Council requested additional time and opportunity for Council and residents to review, ask questions, and provide feedback on the proposed budget prior to its adoption. The Study Session provides opportunity to address Council questions and provide information about how the proposed budget aligns with Council priorities and policies. The FY 2024-2025 is scheduled to be adopted at the City Council Regular Meeting on Thursday, June 20, 2024.
Elements of the FY 2024-2025 proposed budget, to be discussed in this Study Session, are as follows:
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 fulltime employees, a net increase of ten (10) from FY 2023-24 authorized positions. The recommended changes are shown in Table 2.
Capital Project Funding Change - As requested by Council at the May 21 Special Meeting, $600,000 in funding for the DeBenedetti Park-Cricket Sports Lighting projec...
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