Submitted by: Ron Brooks
Submitting Department: Finance
Agenda Section: Action
Item Title:
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Hyattsville Ordinance 2024-02: Fiscal Year 2025 Budget (Second Reading and Adoption)
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Suggested Action:
recommendation
I move the Mayor and Council adopt Hyattsville Ordinance 2024-02, an ordinance adopting an annual budget for the Fiscal Year July 1, 2024, through June 30, 2025, for the general purpose, fixing the tax rates for the Fiscal Year beginning July 1, 2024; authorizing collection of taxes herein levied, and appropriating funds for the fiscal year (Second Reading and Adoption).
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Summary Background:
The FY25 budget process began internally in December 2023 with initial staff meetings to determine budgetary requirements for FY25. The public process began in February 2024 with a presentation of the budget process and a Council Budget Work Session on February 26. The City's Administrator's Proposed FY25 budget was presented to the Mayor and Council on March 27.
The Real Property Tax Rate of $0.63 per $100 of assessed value will remain in effect for FY25.
During the budget review process the following amendments were authorized to the draft budget.
BUDGET ADDITIONS:
$2,000: Education Advisory Committee: Principals Luncheon, City Council Budget
$3,000: Race & Equity Task Force Public Engagement Funds, City Council Budget
$3,000: Purchase & Install of 10 Pet Waste Stations, DPW Budget
$4,500: Council Laptop Replacement Purchase, Capital Budget
$6,000: Council Discretionary Funds, City Council Budget $5K & Mayor's Budget $1K
$50,000: Contracted Data Analyst Position, City Administrator Budget
$100,000: Climate Action Plan, DPW Budget
Total Budget Additions: $168,500
BUDGET REDUCTIONS:
Language Program: $120,000
Hiring of Lobbyist: $40,000
Total Budget Reductions: $160,000
Next Steps:
Second Reading Adoption of the FY24 Budget Ordinance is scheduled for June 10, 2024.
Fiscal Impact:
See budget document.
City Administrator Comments:
See summar...
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