1996-09-23 Public Hearing and Regular Meeting

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e e Minutes Public Hearing and Regular Meeting La Porte City Council September 23, 1996, Page 4 s. PUBUC HEARING - CITY BUDGET FY 96-97 OPEN PUBUC HEARING Mayor Malone opened the public hearing at 6:05 P.M. REVIEW BY STAFF Director of Finance/ ACM Jeff Litchfield reviewed the Summary of Funds representing the result of the workshops held with City Council. Mr. Litchfield reported that all changes made by Council are incorporated into the various budgets shown in the summary. The total of all funds for the budget is $39,631,748. Mr. Litchfield reported tax and utility rates will remain the same as they are in the current year. Mr. Litchfield stated, "The only increase that is proposed in this budget relates to the golf course, and we have an ordinance which we will bring before Council later on in this meeting supporting that increase". After answering questions from Council the Mayor asked for public input. PUBLIC INPUT There were no citizens wishing to address Council regarding the budget for FY 1996-97. RECOMMENDATION OF STAFF Mr. Litchfield reported that staff recommends this budget be approved as presented. CLOSE PUBLIC HEARING Mayor Malone closed the public hearing at 6:20 P.M. 6. CONSIDER APPROVAL OR OTHER ACTION REGARDING AN ORDINANCE APPROVING AND ADOPTING THE BUDGET FOR THE CITY OF LA PORTE, TEXAS, FOR THE PERIOD OF OCTOBER 1, 1996 THROUGH SEPfEMBER 30, 1997 (Ord. 96- 2133) - R. T. Herrera Director of Finance/ACM Jeff Litchfield reviewed the proposed budget for the fiscal year 1996- 97. The budget reflects an amount of$39,631,748 and is supported by revenues of $39,923,161. It is estimated that the beginning working capital for the City will be $16,733,206 at the beginning of the fiscal year and $17,024,619 at the end of the year.