Item 10: Amending the City's 2023-2024 Fiscal Year budget

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COSM_Admin

COSM_Admin

Administrator
Staff member
Consider approval of Ordinance 2024-02, on the first of two readings, amending the city’s 2023-2024 Fiscal Year budget to carry forward funds from the 2022-2023 Fiscal Year; to adjust revenue and expenditure accounts in multiple operating, special revenue, internal service, and capital improvement project funds; including procedural provisions; and providing an effective date.
 
JHughson

JHughson

CoSM Members
What is 14063000 TIRZ 5 - DOWNTOWN (17,624) DECREASE TO COUNTY REVENUES
What is this project? 12024226 TOURISM 1 00,000 GATEWAY MURAL
 
COSM_Admin

COSM_Admin

Administrator
Staff member
Response provided by Jon Locke, Finance Director:
What is 14063000 TIRZ 5 - DOWNTOWN (17,624) DECREASE TO COUNTY REVENUES
The FY 2024 Adopted Budget for the TIRZ was based on the tax rate for Hays County at the time (FY 2023 tax rate). The county subsequently adopted a lower tax rate, which resulted in a reduction in revenue.

What is this project? 12024226 TOURISM 1 00,000 GATEWAY MURAL
The gateway mural will be located on the back of the former Justice Center located at 110 E. Martin Luther King Drive. The mural was budgeted in FY 2023 and an artist was not selected during the fiscal year. The budget amendment will move the funding into FY 2024 to complete the gateway mural.
 
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