Budget, Finance & Economic Development (BFED) Committee

Summary

Meeting Overview

The Budget, Finance & Economic Development (BFED) Committee met on June 23, 2026, at 1:00 PM in the Council Chamber of the Lexington-Fayette Urban County Government. The meeting covered four agenda items, all of which were informational in nature, including a Monthly Financial Update for May 2026, an Infrastructure Funding Plan Update, a Technology Ecosystem Development presentation, and an update on E911 Fund Revenue Sources. The committee took 2 votes during the course of the meeting and heard no public comments. No presiding officer is identified in the available meeting record.

Votes and Decisions

The committee took two votes during the June 23, 2026 meeting, both of which passed by voice vote.

• Motion 0576-26 — Approval of March 24, 2026, Committee Summary 0:09: The committee voted to approve the summary from its March 24, 2026 meeting. The motion passed by voice vote. No individual roll call votes were recorded. 9:05

• Motion to Advance Draft Ordinance to Full Council 1:12:12: Council Member Sheehan moved to send the draft ordinance out of committee to the full council, and Council Member Higgins-Hord seconded the motion. The motion passed by voice vote. No individual roll call votes were recorded.

Both votes were conducted by voice with no recorded ayes, nays, or abstentions, and no conditions were attached to either motion.

Monthly Financial Update - May 2026

9:05

Agenda Item 0577-26

Commissioner Hensley, Director Holbrook, and Director Lueker jointly presented the monthly financial update covering the period through May 2026. The presentation provided the Committee with an overview of the organization's current financial position, noting that revenue was tracking close to budget. The update also highlighted operating variances as a key area of discussion.

No additional detail on specific revenue figures, variance amounts, or individual line items is reflected in the available record for this item. The presentation was informational in nature, and no formal action or vote was taken by the Committee as a result of the update.

Infrastructure Funding Plan Update

21:21

Agenda item 0578-26 was presented as an informational update to the Committee. Sean Denny delivered the presentation, which covered three primary areas: the urban growth master plan, the fiscal impacts associated with infrastructure development, and a proposed privilege fee ordinance.

The item was informational in nature, meaning no vote or formal action was taken by the Committee at this meeting. No additional outcome, debate, or specific concerns are recorded in the available meeting data beyond the scope of Denny's presentation on these topics.

Technology Ecosystem Development

Agenda Item 0579-26 | 1:12:46

The Committee received a presentation on Technology Ecosystem Development, focused on a proposed pilot program designed to strengthen the local tech talent pipeline.

What Was Presented

Erica presented a proposal to offer partial wage reimbursement to local employers who host tech-based internships. The stated goal of the program is to retain local tech talent by creating incentives for businesses to bring on interns within the community, reducing the likelihood that skilled workers leave the area for opportunities elsewhere.

Outcome

The item was informational in nature. No vote or formal action was taken at this meeting. The presentation served to introduce the pilot program concept to the Committee for awareness and discussion purposes.

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*Note: The available record identifies Erica as the key speaker. Additional details regarding specific reimbursement amounts, program eligibility criteria, employer participation requirements, or any concerns raised during discussion were not captured in the available meeting data.*

E911 Fund Revenue Sources

1:32:06

The committee received an informational presentation on agenda item 0580-26, which addressed the financial challenges facing the E911 Fund, specifically the declining revenue generated from landline fees and the need to explore alternative funding mechanisms.

Director Holbrook led the discussion, presenting on the current state of E911 fund revenue sources. The core issue identified was the ongoing decline in landline telephone usage, which has historically served as the primary revenue stream for funding E911 emergency services. As more residents and businesses abandon traditional landline connections in favor of mobile and internet-based communication, the fee revenue supporting E911 operations has correspondingly decreased.

The presentation examined potential alternative funding mechanisms that could help offset this revenue shortfall and ensure the continued financial stability of E911 services. No final decisions or votes were taken during this session, as the item was brought before the committee for informational purposes.

The discussion underscores a broader challenge faced by many jurisdictions in sustaining emergency communications infrastructure as telecommunications technology continues to shift away from the landline model on which E911 funding structures were originally built.