Ord 2024-040 adopting an operating budget in the amount of $342,578,537.00 for the fiscal year beginning October 1, 2024 and ending September 30, 2025

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ORDINANCE NO.2024-40 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, ADOPTING AN OPERATING BUDGET IN THE AMOUNT OF $342,578,537.00 FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2024 AND ENDING SEPTEMBER 30, 2025; AUTHORIZING CERTAIN ADJUSTMENTS TO THE BUDGET WITH THE APPROVAL OF THE CITY MANAGER; APPROVING FISCAL YEAR 2024-2025 CAPITAL IMPROVEMENTS PROGRAM PROJECTS IN THE AMOUNT OF $84,855,000.00; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. The City Charter provides for the City Council to set the time and place of a public hearing on the proposed annual budget for the City, and to cause notice of the hearing and a summary of the budget to be published in a newspaper of general circulation in the City. 2. The City Council set September 3, 2024, and September 17, 2024 as the dates for the public hearings on the budget and directed the staff to publish notice of the public hearings and a budget summary for the City's proposed budget for fiscal year 2024-2025. 3. Notice of the public hearings and budget summary were published in a newspaper of general circulation in the City on August 25, 2024. 4. Two public hearings on the City's proposed budget for fiscal year 2024-2025 were held on September 3, 2024 and September 17, 2024 and all interested persons were given an opportunity at the hearings to be heard for or against any item or the amount of any item contained in the budget. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. The City of San Marcos 2024-2025 Annual Budget in the amount of $342,578,537 is approved and adopted for the fiscal year beginning October 1, 2024, and ending September 30, 2025. A copy of the approved budget shall be kept on file in the office of the City Clerk. SECTION 2. The amount shown in the City of San Marcos 2024-2025 Annual Budget is necessary to provide for a sinking fund for the payment of the principal and interest and the retirement of the bonded debt of the City and is appropriated for that purpose. SECTION 3. The City Manager is authorized to make the following adjustments to the 2024-2025 Annual Budget without further approval from the City Council: (a) Transfers of funds among the accounts within each department; (b) Transfers of funds within an operating fund;