Title
A Resolution Adopting Fiscal Year 2027 Budgets
Summary
Mayor Ralph Hellmich requests that Council consider adoption of the FY 2027 Budgets.
Body
WHEREAS, the Fiscal Year 2027 (FY2027) budget for the General Fund is not a balanced budget and is slated to spend approximately $14 million of reserves to aggressively address continued above average growth with measures that will ensure quality of life in our city, while maintaining sufficient reserves to weather unforeseen challenges that may arise, and
WHEREAS, budgets for the following City of Foley governmental funds are adopted in their entirety: Fire Ad Valorem, Gas Tax, Court Corrections, Jail Corrections, Foley Sports Tourism Event Center Operations, Foley Sports Tourism Multi-Use Fields Operations, Economic Incentives, Debt Services, and Impact Fee. The budget for the City of Foley Sanitation proprietary fund is also adopted, and
WHEREAS, budgets for funds of the following component units are included in the City's Budget Report: Public Facilities Cooperative District (PFCD), Public Athletic and Sports Facilities Cooperative District (PASFCD), and Public Cultural and Entertainment Facilities Cooperative District (PCEFCD), and
WHEREAS, the budgets are presented in summary form; however, a detailed account by account report is available by request from the Finance Director’s Office, and budgets will be presented in the Distinguished Budget Award format at a future Council meeting, and
WHEREAS, the budgets for operational costs in funds where capital projects are scheduled are adopted; however, infrastructure maintenance and capital construction projects in these funds are approved on a per project basis and do not expire until the project is complete. Project schedules presented with budget documents are for informational and planning purposes only, and
WHEREAS, adoption of these budgets and their supporting documentation represent the Mayor and Managements best estimate of the City's finan...
Click here for full text