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<br />JufnOp/2: <br />Memorandum <br />____________________________________________________________________________ <br />TO:Mayor, Mayor Pro Tem, City Council <br />FROM:Rob Vine, Interim City Manager <br />Gene Anderson, Finance Director <br />SUBJECT:Proposed Fiscal Year 2024/2025BudgetExecutive Summary <br />DATE:August 7,2024 <br />Introduction <br />It is with pleasure that wepresent to you the City Manager’s Proposed Fiscal Year 2024/2025(“FY24/25”)Budget. <br />Many hoursby many individualshave gone into its preparation.Through careful review, editing, and discussion, we <br />have developed a great finalproduct to present to you. <br />This memorandum has been structured to address Article V inthe City of Paris Charter.The duty and responsibility <br />of a public servant is to carry out the Codeof the Cityto the best of his/her ability,therefore,to provide greater <br />transparency to those reviewing this memorandumfor completeness to the code, wewill divide upthis memorandum <br />to address each specific applicable section of that article.This has the unintended consequence of breaking up a desired <br />“flow”, sometimes making this memorandum bulky, but nevertheless itfulfills ourobligation in providing you <br />thorough information regarding the budget. <br />Wewill be making a presentation, summarizing this memorandum, to the City Council on August 12, 2024. At that <br />time, we will also touch on upcoming deadlines pursuant to the City Charter and Senate Bill 2.Wewill also ask how <br />you, as a Council, would like to proceed to review, discuss, consider, etc. the Proposed FY24/25Budget including <br />any workshops, research, additional information, etc. you would like to hold.Please be considering this in preparation <br />for the August 12thdiscussion. <br />The reader of this report mayfind the material presented here to be complex.This is unavoidable asthe City Charter <br />is clear as to what must be includedin this report.Municipal budgets are indeed complex, for a reason.There aretwo <br />different schools of thoughtwhen it comes to the content of a budget.Some prefer to see budgets broken out as much <br />as possible with many itemized line items minutely separating out expenses, while others prefer fewer line items <br />representing generalized categories of expenses. The version you have before you in this memorandum falls closer to <br />the first school of thought –many funds with many line items, thus breaking out the entire budget intomore definable <br />individual purposes.This of course produces a lengthy budget to go throughand review,butitis amore transparent <br />approachfor our public and it assists departments with better tracking their budgetary status as the year progresses.A <br />very condensed and summarized budget where line items are lumped together, while extremely easy for staff to <br />processand councils to flip through, is also much less transparentas the purpose of each line item is obscure, turning <br />them more in to larger “miscellaneous” line items, and it can also cause departments to lose track of their budgetary <br />status unless they keep their own notes on the side as to what has or will still yet occur by way of known and unforeseen <br />expenses.It is our recommendation that wecontinue with our current format. <br />Page 1of 18 <br /> <br />