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Home My WebLink About2024-06-8815ORDINANCE NO. 2024-06-8815 AN ORDINANCE ADOPTING THE CITY OF PADUCAH, KENTUCKY, ANNUAL OPERATING BUDGET FOR THE FISCAL YEAR JULY 1, 2024, THROUGH JUNE 30, 2025, BY ESTIMATING REVENUES AND RESOURCES AND APPROPRIATING FUNDS FOR THE OPERATION OF CITY GOVERNMENT WHEREAS, an Annual Operating Budget proposal has been prepared and delivered to the Board of Commissioners of the City of Paducah, KY; and, WHEREAS, the Board of Commissioners has reviewed and discussed the proposed Annual Operating Budget and desires to adopt it for Fiscal Year 2025. NOW, THEREFORE, BE IT ORDAINED by the City of Paducah, Kentucky as follows: Section 1. The Annual Operating Budget for the Fiscal Year beginning July 1, 2024 and ending June 30, 2025, including all sources of estimated revenues and appropriations for all City funds as set forth in Exhibit Number 1 attached hereto is hereby adopted. Section 2. The balance of all capital construction, renovation, improvement projects, and grants currently approved and/or nearing completion are hereby approved for re -appropriation and carry over for the Fiscal Year beginning July 1, 2024 and ending June 30, 2025. Section 3. The City does hereby adopt the following financial management policies: A. The General Fund's minimum undesignated cash balance shall be 10% of the General Fund's budgeted appropriations. The Investment Fund's minimum undesignated cash balance shall be 10% of the Investment Fund's budgeted appropriations. The Solid Waste Fund's minimum unreserved cash balance shall be 10% of the Solid Waste's budgeted operating expenses. B. The City Manager or designee is authorized to transfer appropriated amounts between funds, departmental budget line items, projects, between divisions of departments, and between departments as shown in Exhibit Number 1. C. Funds appropriated as Administrative contingency shall be obligated at the discretion of the City Manager, however, the Board of Commissioners shall be notified five calendar days prior to obligation of the proposed expenditure. If any individual member of the Board of Commissioners requests Commission review of a proposed expenditure, the City Manager shall bring expenditure before the Commission for approval by municipal order, or not proceed. D. City Manager shall assure that recurring revenues and resources are greater than or equal to recurring expenditures. The City Manager or his designee shall be authorized to increase appropriations in an amount not to exceed any unanticipated increases in revenue or resources. E. The City Manager has the authority to enact a budget allocation program or to transfer funds to or from any departmental line item appropriation. Department Directors shall be responsible for keeping all appropriated accounts within their respective department positive. F. As vehicles are acquired, the City will fully fund the Fleet Lease Trust Fund in order to replace rolling stock owned by the Fleet Lease Trust Fund as it achieves obsolescence. The Fleet Lease Trust Fund shall be funded with monthly lease charges assigned to rolling stock as determined by the Finance Director or his designee. All non -enterprise funded rolling stock is owned by the City's Fleet Lease Trust Fund, and leased to respective departments for use. G. The City will maintain a self-insurance fund called Health Insurance Trust Fund through the use of user fees as set by administrative policy. H. In fiscal year 2006, the City issued a General Obligation Bond (GOB) for the Police and Firefighters' Pension Fund (PFPF) bringing the fund up to an actuarially sound basis; however, the multi-year recession starting in fiscal year 2009 reduced the fund's corpus leaving an unfunded liability. Funding is provided in the General Fund of this ordinance to further address the PFPF unfunded liability. KACity Clerk\CITY CLERK\ORD\FINANCE\Budget FY2025 Ordinance.Docx L The City will provide to all eligible employees up to a $727 per month credit (for the months of July - December 2024) to be applied to the Comprehensive Health Insurance Benefit Plan (Cafeteria Plan) as directed by the employee. In January 2025, this monthly credit may be adjusted by the Board of Commissioners as recommended by the City Manager or his designee. J. The City will maintain a special fund called Investment Fund, and is considered an extension of the General Fund. The Investment Fund is funded with a 1/2 cent portion of the City's occupational license fee (employee payroll withholding tax). This fund is dedicated to the following expenditures: economic development, neighborhood re -development, infrastructure capital investment, and property tax relief. L. The Oak Grove Cemetery (PF0048) project will be funded in the following manner: 30% of all cemetery lot sales, and 30% of all cemetery crypt sales will be credited to the project. Proceeds are to be used solely for the general care, maintenance, and embellishments of the cemetery. Section 4. The provisions of this Ordinance are hereby declared to be severable, and if any section, phrase or provision shall for any reason be declared invalid, such declaration of invalidity shall not affect the validity of the remainder of this Ordinance. Section 5. All prior Municipal Orders or Ordinances or parts of any Municipal Order or Ordinance in conflict herewith are hereby repealed. Section 6. This ordinance shall be read on two separate days and will become effective upon publication in full pursuant to KRS Chapter 424. A , Mayor ATT ST: UnA�A— �findsay Parish, Clerk Introduced by the Board of Commissioners, May 28, 2024 Adopted by the Board of Commissioners, June 11, 2024 Recorded by Lindsay Parish, City Clerk, June 11, 2024 Published by The Paducah Sun, June 13, 2024 ORD\FINANCE\Budget FY2025 K:\City Clerk\CITY CLERK\ORD\FINANCE\Budget FY2025 Ordinance.Docx Run Dale: 6/28/2024 9:35 AM Total Expenditures $ 57,637,779 S 31,749,384 $ 11,296,250 $ 3,617,780 $ 7,379,756 $ 8,312,796 S 861,190 $ 120,854,935 Reserves Utilized (Beg. Cash) $ (10,483,829) S (15,794,226) $ - S 30,260 $ (1,495,466) $ (989,065) S (115,725) $ (28,848,051) C:\Users\cmeeksWppOala\Local\Microsoft\WindmslINetCache\Content.Outlook\XSQUWMSM\Copy of Summary by type for Clerk(1).xlsx Summary by Type City of Paducah Annual Operating Budget for All Funds and Categories of Government Estimated Appropriations & Expenditures PY2025 (July 1, 2024 to June 30, 2025) Exhibit No. 1 General Special Capital Debt Enterprise Internal Trust Fund Revenues Projects Service Funds Service Funds Total Sources: Fincs $ 100,500 $ 30,000 $ - $ - $ - $ - $ - $ 130,500 Grants 991,305 1,257,000 - - 64,000 - - 2,312,305 Interest Income 1,400,000 493,417 - 30,000 138,690 292,500 125,500 2,480,107 Bond Proceeds - 0 - - - - _ 0 Charges for Service 832,980 40,000 - - 5,245,000 5,639,560 0 11,757,540 Other Pees 57,000 105,140 - - 1,000 - 500 163,640 Occupational License 32,733,500 8,600,650 - 656,670 - - _ 41,990,820 Permits & Pees 557,000 - - - 5,500 - - 562,500 Property Rent 542,000 312,951 - 0 36,000 1,222,905 - 2,113,856 Property Taxes 9,174,095 - - - - - - 9,174,095 Recreation pees 143,000 - - - - - - 143,000 Sales 27,000 - - - 90,000 25,000 309,465 451,465 Other Taxes - 1,303,000 - 1,303,000 Total $ 46,558,380 $ 12,142,158 $ - $ 686,670 $ 5,580,190 $ 7,179,965 $ 435,465 $ 72,582,828 Fund Transfers In $ 595,570 $ 3,813,000 $ 11,296,250 $ 2,961,370 $ 304,100 $ 143,766 $ 310,000 $ 19,424,056 Total Sources S 47,153,950 S 15,955,158 S 11,296,250 S 3,648,040 $ 5,884,290 S 7,323,731 S 745,465 $ 92,006,884 Expenditures: Administration $ 2,290,190 $ - $ 300,000 $ - $ - $ - $ - S 2,590,190 Finance 1,522,982 13,959,167 2,200,000 3,617,780 - 7,341,445 - 28,641,374 Information Technology 2,033,876 - 35,000 - - - - 2,068,876 Customer Experience 528,632 - - - - - - 528,632 Planning 905,893 - 3,597,000 - - - - 4,502,893 Police 14,063,509 116,165 100,000 - - - - 14,279,674 Lire 11,899,435 - 474,250 - - - - 12,373,685 Public Works 4,975,504 2,501,705 1,080,000 - - 879,981 - 9,437,190 Parks 4,466,056 - 160,000 - 442,681 - - 5,068,737 Cable Authority 85,325 - - - - - - 85,325 Human Rights 15,215 - - - - - - 15,215 Engineering 2,083,848 - 3,350,000 - - - 5,433,848 Human Resources 707,568 - - - - - - 707,568 Investment Fund - 1,590,400 - - - - - 1,590,400 E911 - 3,579,397 - - - - - 3,579,397 Solid Waste - - - - 6,595,685 - - 6,595,685 Pensions - - - - - - 861,190 861,190 Fund Transfers Out 12,059,746 10,002,550 - - 341,390 91,370 - 22,495,056 Total Expenditures $ 57,637,779 S 31,749,384 $ 11,296,250 $ 3,617,780 $ 7,379,756 $ 8,312,796 S 861,190 $ 120,854,935 Reserves Utilized (Beg. Cash) $ (10,483,829) S (15,794,226) $ - S 30,260 $ (1,495,466) $ (989,065) S (115,725) $ (28,848,051) C:\Users\cmeeksWppOala\Local\Microsoft\WindmslINetCache\Content.Outlook\XSQUWMSM\Copy of Summary by type for Clerk(1).xlsx Summary by Type Run Date: 6/17/2024 8:24 AM FUNDS GENERAL MAP INVESTMENT TIP E911 OPIOID COURT AWARDS ROOM TAX DEBT CIP BOND FUND SOLID WASTE TRANSIENT BOAT DOCK RENTAL RADIO DEPR FLEET MAINTENANCE FLEET LEASE TRUST INSURANCE HEALTHINSURANCE PFPF OTHER TRUSTS APPROPRIATIONS $ 57,637,779 2,501,705 8,315,330 0 3,721,817 64,200 116,165 1,850,650 3,617,780 11,296,250 15,000,000 6,937,075 442,681 154,482 25,035 879,981 2,425,255 1,348,140 3,659,420 786,765 74,425 $ 120,854,935 Page 1 C:\Users\emeeks\Downloads\Ordinance - Publication, (FY2025).xlsx Publication