Summary
To: Finance Advisory Board
From: Tina R Porter, Finance Director
Date: 3/20/2024
______________________________________________________________________
Subject:
Title
Review of Finance Advisory Board Budget Priorities and Town Commission Budget Priorities for FY 2024-2025
Summary:
Commissioners submitted their priorities directly to the Town Manager for consideration in the FY 2024-2025 Budget...End
Body
Previous Commission Action: The Town Commission agenda for March 12, 2024, included a discussion of budget priorities. The Finance Advisory Board meeting in January included a request for members to submit budget priorities to the Finance Director.
Background/Problem Discussion: Staff met with Commission members to discuss budget priorities. The responses varied but specific topics became a clear priority for each Commissioner. Staff will review each priority to determine the feasibility of including it in the FY2024/20/25 budget or to address it as a multiyear or future implementation.
Expenditure Challenges: The level of inclusion of the priorities as part of the FY 2024/2025 budget will be dictated by the level of anticipated revenues, predominantly ad valorem and grant funds.
Financial Implications: If anticipated revenues are not sufficient to include all priorities in this budget, decisions will be required by the Commission to choose the level of inclusion as well as the use of reserves or changes in taxes or rates/fees to address specific priorities.
Recommendation: No recommendation required; this item is for discussion only.
Proposed Motion: No motion required; this item is for discussion only.