Committee of the Whole FY2024 Budget

Summary

Meeting Overview

The Lexington-Fayette Urban County Council convened on April 25, 2023, at 1:00 PM in the Council Chamber. The meeting focused on financial matters, with council members receiving two informational presentations related to the city's fiscal status and upcoming budget planning.

The session included a Quarterly Financial Update covering Q3 performance and an overview of the Mayor's Proposed Budget for FY2024. Both agenda items were presented for informational purposes, providing council members with essential financial data and budget projections for the upcoming fiscal year.

During the meeting, one motion was recorded, no public comments were heard, and no formal votes were taken on the two agenda items presented. The meeting served primarily as a briefing session to keep council members informed about the city's current financial position and the administration's budget proposals for the next fiscal year.

Votes and Decisions

The meeting included one formal vote on a budget-related matter.

Budget Revenue Adoption 2:30:00 James Brown made a motion to adopt the proposed revenue amount of $461,438,764 for the FY2024 budget. The motion was seconded by Sheehan. The vote was conducted by voice vote and resulted in passage, with one recorded nay vote and no abstentions. Individual vote tallies for council members were not recorded for this voice vote.

Quarterly Financial Update (Q3)

1:00 Commissioner Erin Hensley and Director Holbrook presented the financial update covering the first nine months of fiscal year 2023. The presentation focused on revenue and expense performance during this period.

The speakers highlighted the impact of seasonal revenue collection patterns on the financial results. This informational presentation provided an overview of how the organization's finances have performed through the third quarter of FY23.

The agenda item was structured as a presentation to inform attendees about the current financial status, with no action items or decisions required. The discussion centered on reviewing revenue trends and expense management during the nine-month period.

This quarterly update served as a routine financial briefing to keep stakeholders informed about the organization's fiscal performance and the seasonal variations that affect revenue collection throughout the year.

FY2024 Mayor's Proposed Budget Overview

1:30:00

Commissioner Erin Hensley presented the FY2024 Mayor's Proposed Budget during this informational session. The presentation covered the city's revenue estimates and expenditure plans for the upcoming fiscal year.

Hensley outlined the budget's key priorities, which include:

• Public safety initiatives and funding
• Sustainability programs and environmental investments
• Infrastructure investment and maintenance projects

The presentation provided an overview of the proposed budget structure, including anticipated revenue sources and planned expenditures across various city departments and programs. As an informational item, the presentation served to introduce the budget proposal to the commission and public ahead of formal budget deliberations.

No formal action was taken during this agenda item, as it was designated as a presentation for informational purposes only. The overview established the foundation for future budget discussions and decision-making processes.