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Ordinance Making Appropriations to the Capital Project Funds for the Fiscal Year Beginning July 1, 2025
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Department: |
Budget & Research |
Meeting Date: |
6/17/2025 |
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Contact Name: |
Laura Mortell |
Public Hearing: |
No |
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Contact Phone: |
910-341-5886 |
Advertising Date/Advertised By: |
05/09/2025 Star News |
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Attachments: |
Attachment #1: Capital Projects Budget Ordinance |
PURPOSE:
The purpose of this ordinance is to make appropriations to the Capital Projects Funds for the Fiscal Year beginning July 1, 2025.
BACKGROUND:
N.C.G.S. §159-8 requires local governments to operate under a balanced budget ordinance adopted and administered in accordance with the Local Government Budget & Fiscal Control Act. The budget ordinance is required to cover a fiscal year beginning July 1 and ending June 30.
As required by law, the City Manager’s FY26 Recommended Budget is being submitted to City Council prior to June 1st and contains an explanation of the governmental goals fixed by the budget for the fiscal year, the important features of the activities anticipated in the budget, and the reasons for stated changes from the previous year in program goals, programs, and appropriation levels.
Three ordinances making appropriations for the Fiscal Year beginning July 1, 2025, are being presented for consideration:
1) General Fund
2) Grant Projects, Financial Plans, Debt Service Fund, and Convention Center
3) Capital Project Funds
These annual budget ordinances are, pursuant to N.C.G.S. §159-8(a), balanced when the sum of the revenues and appropriated fund balance is equal to the appropriations, and by statute must be adopted by June 30, 2025.
budget
BUDGET IMPACT:
These ordinances will authorize the FY26 annual budget.
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RECOMMENDATION / ACTION REQUESTED:
Approval of the ordinance is recommended.