Page 6 - TownofWestlakeFY25BudgetOrd1005

October 1, 2024

Honorable Mayor and Town Council:

In accordance with the Texas Local Government Code, I am pleased to submit the adopted for the Town of
Westlake Fiscal Year 2025. The fiscal year begins October 1, 2024, and ends September 30, 2025.

This budget was carefully prepared through the collective efforts of all departments to balance the identified
needs of the Town with a sustainable and sound financial plan. The budget is focused on achieving the following
goals:
Meeting resident expectations;
Continuing high quality services and responsive customer service;
Retaining and attracting employees who support the community’ s vision;
Implementing sound financial policies focused on long-term sustainability; and
Offering transparency into the financial plans and status of the Town.

BUDGET STRATEGIES

The budget is influenced by the following systems: Council direction, Fiscal & Budgetary policies,
recommendations from the Town Manager, input from citizens, Government Finance Officers Association
guidelines, and general budgeting principles.

TOWN COUNCIL POLICIES & PRIORITIES
The Town Council has elected to develop a strategic plan for the Town, including the Academy, which will include
a financial sustainability plan, influence future capital spending, and provide guidance on future development,
programs, and services. This work will occur mainly during the FY2025 budget year and is expected to heavily
influence the FY2026 budget.

FISCAL & BUDGETARY POLICIES
The Town’s fiscal and budgetary policies address the Town’s operating budgets, revenue management,
expenditure control, fund balance/ retained earnings, debt management, grants, economic development, audits,
internal controls, and asset management. These policies are included in our annual budget document for
residents to review and staff to use as a guiding set of principles each year.

BUDGET PRINCIPLES
The Town’s budget principles for sound fiscal management include:
Plan, manage, and fund debt service and related service delivery programs;
Maintain fund balance in accordance with the policy and future obligations;
Oversee facilities and infrastructure;
Provide exceptional and responsive public services; and
Provide competitive employee compensation.

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