Item 4 - COA Budget Timeline — original pdf

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Parallel Shift: Agustina Rodriguez 1/22/2024 1 Budget Process • Department proposals • Board and Commission recommendations • Audit recommendations • Items from Council (IFCs) Budget Development — Equity first approach starting in FY 2016 FY24 All City Funds - $5.5 Billion Uses of Funds Convention Center 5% General Fund Operations 24% Aviation 5% Austin Water 13% Austin Resource Recovery 2% GO Debt Service 4% Internal Service Operations 7% Other Expenses 6% Watershed Protection 2% Austin Energy 28% Transportation and Public Works 4% 1/22/2024 3 FY 2023-24 General Fund Budget $1.3 Billion FY 2023-24 Source of Funds 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% $630.5M $375.6M $164.0M $174.1M FY 2023-24 Use of Funds Austin Public Health 9% Parks and Recreation 9% EMS 9% Planning 1% Housing 1% Fire 18% Police 36% Forensic Science 1% Library 5% Transfers & Other 7% Animal Services 1% Municipal Court 3% Property Tax Sales Tax Utility Transfers Other Revenue 65.5% Personnel | 32.2% Contractuals & Commodities | 2.3% Other 1/22/2024 4 General Fund Five-Year Forecast Five-Year General Fund Outlook: FY24 – FY28 $1.3 million projected deficit by FY28 Balanced in FY24 $1,352 M $1,393 M $1,436 M $1,485 M $1,535 M FY 2023-24 FY 2024-25 FY 2025-26 FY 2026-27 FY 2027-28 Base Expenditures Projected Revenue at Voter-Approval Rate 1/22/2024 5 FY24 Budget Timeline BOARDS & COMMISSIONS BUDGET PRIORITY SURVEY COMMUNITY INPUT MEETINGS MAY Financial Forecast Presentation to Council Department Budget & CYEs due May 3 JULY Proposed Budget Presentation to Council AUGUST Budget Public Hearing, Set Max Tax Rate, and Work Session JULY Community Input and Work Session AUGUST Work Session AUGUST Budget Readings and Tax Rate Hearings OCTOBER First day of the Fiscal Year MARCH Board & Commission recommendations due Department Financial Forecast due March 8 POLICY INPUT FORECASTING & BUDGET DEVELOPMENT COUNCIL DELIBERATION & ADOPTION NEW FISCAL YEAR 1/22/2024 6