A copy of the ordinance, having been placed on the desks of each member of Council prior to introduction, was read by title.
Vice Mayor Byington explained that this is the annual budget ordinance, which appropriates the city’s funding for 2024. This ordinance is required under Section 6.05 of the City Charter and, when adopted, provides formal authorization to the City Manager to spend public dollars in providing city services.
Oakwood’s total city budget is divided into five primary parts with budgeted spending in each as follows:
| General City Services: | $ | 18,126,259 |
| Refuse Services: | $ | 1,680,468 |
| Water Services: | $ | 1,980,076 |
| Sanitary Sewer Services: | $ | 2,840,039 |
| Stormwater Services: | $ | 636,926 |
Mr. Klopsch briefly explained the city's annual budget and planning process. Staff begins to discuss the budget around April. In May, the Budget Review Committee is provided an update on the city’s financial status and is introduced to capital projects that are being considered for the following year. City staff begins putting together the budget in June and initially focuses on capital equipment and public infrastructure, which are two primary components of the budget. In September, the Budget Review Committee is presented with the capital expenditures that are planned for the next year. In October, the BRC discusses the details of the line item budgets. The final budget is then presented to the BRC in late November or early December.
Mr. Klopsch mentioned that he meets with other city managers regularly and there is often discussion on budget processes. Through these discussions, Mr. Klopsch has learned that there is no other community that has a budget committee or financial advisory committee that is as robust as Oakwood’s. Oakwood’s citizen budget committee includes 34 members who are very involved.
If not for the property tax levy that is expiring at the end of this year, 2024 revenues and expenses would likely be balanced. Because money will not be collected in 2024 for the expiring 3.75 mill tax levy, there will be a deficit, but the city has cash reserves to make up the difference without any negative impact on public services.
Vice Mayor Byington reiterated that Oakwood has a citizen budget committee that includes 34 members and is represented by residents from each of the eight voting precincts. That committee met four times this year and at its November 28th meeting, voted to endorse this 2024 budget.
Thereupon, it was moved by Vice Mayor Byington and seconded by Mrs. Turben that the second reading be waived and that the ordinance be passed tonight.
Upon call of the roll on the question of the motion, the following vote was recorded:
There being five (5) yea votes and no (0) nay votes thereon, said ordinance was declared duly passed and it was so ordered.
A copy of the ordinance, having been placed on the desks of each member of Council prior to introduction, was read by title.