Council to take action on Resolution No. 10-25 approving and adopting a Tentative Budget for Fiscal Year 2025-2026. Summary: It is a State law requirement that the City annually approve and adopt the
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5.B CITY OF BUCKEYE Regular Council Meeting COUNCIL ACTION REPORT MEETING DATE: 05/20/25 AGENDA ITEM: 5.B. FIN - Resolution No. 10-25 Adoption of Fiscal Year 2025- 2026 Tentative Budget DATE PREPARED: 05/14/25 DISTRICT NO.: All STAFF LIAISON: Greg Luethje, Budget Manager, gluethje@buckeyeaz.gov, (623) 349-6187 DEPARTMENT: Financial Services AGENDA ITEM TYPE: Public Hearing and Non Consent - New Business Items ACTION/MOTION: (This language identifies the formal motion to be made by the Council) Council to take action on Resolution No. 10-25 approving and adopting a Tentative Budget for Fiscal Year 2025-2026. SUMMARY PROJECT DESCRIPTION: It is a State law requirement that the City annually approve and adopt the Tentative Budget, to include estimates of revenues and expenditures. The Tentative Budget sets forth the financial resources plan for Buckeye Fiscal Year 2025-2026 service delivery programs and the CIP. After approval, the Tentative Budget and State budget forms will be available for public review and inspection. The Tentative Budget estimate for Fiscal Year 2025-2026 is $819,669,500. BENEFITS: Satisfies the State law requirement to annually adopt a Tentative Budget and sets forth the financial resources plan for Buckeye's FY 2025-2026 service delivery programs. FUTURE ACTION: Publication of the Tentative budget Resolution and State budget forms once a week for two (2) weeks. June 3, 2025: Public Hearing on the Final Budget June 3, 2025: Adoption of FY 2025-2026 Final Budget June 17, 2025: Adoption of FY 2025-2026 Property Tax Levy FINANCIAL IMPACT STATEMENT: The Tentative Budget estimate for FY 2025-2026 is $819,669,500. CURRENT FISCAL YEAR TOTAL COST: $819,669,500 BUDGETED: Yes FISCAL YEAR: 2025-2026 FUND/DEPARTMENT: Various Items related to a project or facility location must include an attached vicinity map for Council Review. ATTACHMENTS: 2026_City-Town_Official_Budget_Forms - Tentative Budget 5.11.25v2.xlsx Res_10-25_approving tentative budget FY 25-26.pdf