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REPORT - FISCAL YEAR 2024/25 HOUSING AUTHORITY BUDGET ADOPTION
BACKGROUND: The Authority’s annual budget process runs concurrently with the City’s process from January through June. The Executive Director of the Authority must submit an expenditure, revenue, and transfer budget for all Authority programs for approval by the Authority Commissioners, which then becomes the formal budget for the next fiscal year. Annually, the Authority is asked to adopt the budget at their June meeting in advance of City Council budget approval; the City Council will review the Citywide FY 2024/25 budget on June 18, 2024.
RECOMMENDATION: It is recommended by the Housing & Community Services Department that the Housing Authority, by resolution, adopt the proposed budget for Fiscal Year 2024/25.
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