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Agenda 08/27/2024 Item #11A (Presentation- FY 2025 Budget )08/27/2024 Recommendation to hear a presentation regarding the FY 2025 budget and provide further guidance as we move toward the September public budget hearings. ______________________________________________________________________________ OBJECTIVE: To provide the Board with further discussion on the FY 2025 budget. CONSIDERATION: For FY 2025, the County employed a priority-based budgeting approach with the goal of aligning financial resources with the County’s priorities and strategic objectives. To facilitate this process, the County contracted with ResourceX and utilized their software solution to aid in the development of the FY 2025 budget. On February 6th, 2024, the Board conducted a Strategic Planning, AUIR and Budget Workshop, where budget- related discussions included the FY 2025 budget timeline, utilization of a priority -based budgeting approach, and potential budget policy guidance. On March 12th, 2024, the Board adopted the FY 2025 Budget Policy, established the June Workshop date of Thursday, June 20th, 2024, and the recommended budget hearing dates of Thursday, September 5th, 2024 and Thursday, September 19th, 2024. On June 20th, 2024, the Board held the FY 2025 Budget Workshop to review the County Manager’s recommended balanced budget. On July 9th, 2024, the Board adopted a Resolution establishing the maximum property tax rates to be levied in FY 2025, and reaffirmed the public hearing dates for the FY 2025 Collier County budget of Thursday, September 5, 2024, and Thursday, September 19, 2024, at 5:05 in the third-floor board room in the W. Harmon Turner building at the County Government Center Complex. On August 13th, 2024, the Board heard a presentation on the Draft ResourceX Priority Based Budgeting Return on Investment Report. FISCAL IMPACT: This executive summary has no immediate fiscal impact GROWTH MANAGEMENT IMPACT: This executive summary has no immediate growth management impact. LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, raises no legal issues at this time and requires majority vote for any action. -JAK RECOMMENDATION: To consider the presentation on the FY 2025 budget and provide further guidance. Prepared by: Christopher Johnson, Director - Corporate Financial and Management Services 11.A Packet Pg. 17 08/27/2024 COLLIER COUNTY Board of County Commissioners Item Number: 11.A Doc ID: 29710 Item Summary: Recommendation to hear a presentation regarding the FY 2025 budget and provide further guidance as we move toward the September public budget hearings. (Christopher Johnson, Director - Corporate Financial and Management Services) Meeting Date: 08/27/2024 Prepared by: Title: – Office of Management and Budget Name: Debra Windsor 08/20/2024 3:28 PM Submitted by: Title: Accountant, Senior – Office of Management and Budget Name: Christopher Johnson 08/20/2024 3:28 PM Approved By: Review: Office of Management and Budget Blanca Aquino Luque Level 3 OMB Gatekeeper Review Completed 08/20/2024 3:59 PM Office of Management and Budget Christopher Johnson OMB Reviewer Completed 08/21/2024 7:58 AM County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 08/21/2024 10:02 AM County Manager's Office Ed Finn Level 4 County Manager Review Completed 08/21/2024 1:04 PM Board of County Commissioners Geoffrey Willig Meeting Pending 08/27/2024 9:00 AM 11.A Packet Pg. 18