Title
Vote on a request to adopt the FY 2024 - 2025 Budget Ordinance
Abstract
Introduction & Background: The North Carolina Local Government Budget and Fiscal Control Act (GS 159, Article 3) requires local governments to adopt an annual balanced budget ordinance by June 30 of each year. The budget year runs from July 1 to June 30, and the ordinance is balanced when the sum of estimated net revenues and appropriated fund balances equals appropriations.
Discussion & Analysis: At the May 30, 2024 and May 31, 2024 Budget Work Sessions, the Board of Commissioners stated their intent to approve the FY 2024-2025 Recommended Budget with a few adjustments. Staff was instructed to make the changes in advance of the Board of Commissioners voting to approve the budget ordinance at the regularly scheduled June 17, 2024 meeting.
How does this relate to the Comprehensive Plan: The FY 2024 - 2025 Budget Ordinance continues to use the Comprehensive Plan as a mechanism to assist with determining funding. This budget ordinance continues to fund the priorities outlined in the Comprehensive Plan.
Budgetary Impact: This ordinance will set funding for the FY 2024-2025 fiscal year.
Recommendation/Motion: Motion to adopt the FY 2024-2025 Budget Ordinance.