[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6666385,"mediaKeyId","2333251-20d10bfdd82d18d05bf7c168a4a544db","parentId",2333251,"title","Committee hears January financial update: revenues close to budget, timing issues cited","audioSeconds",533,"startMs",211000,"endMs",744000,"viewUrl","/Search/View?dp=1&key=2333251-20d10bfdd82d18d05bf7c168a4a544db&start=211&end=744","thumbnailUrl","https://assets.pipeline.soar.com/2333251-20d10bfdd82d18d05bf7c168a4a544db/thumbnail_211000.jpg","articleUrl","/articles/6666385/Lexington-City/Fayette-County/Kentucky/Committee-hears-January-financial-update-revenues-close-to-budget-timing-issues-cited","mediaUrl","https://secure.pipeline.soar.com/6666385-d5914a5731e26f7efd041e20140baf0b/orig.mp4?Expires=1771216538&Signature=ejSWoXo8~ZUIDfRQ16KD~nRi4bFPayCCUHM8qdgx81CgCiCKiiXB42OVcWlz~Bl6tQvhnF28gJxxha2l80ozy~YSQ8b62T138jlzCUFYVcY8NAhujDMezZjsq5XSmAyiWv9rT7JpRE3DZhej1WiSzC0YjKbTN5W6MYbwLOtQ0WyBi-QCgpMgJ11BYJeEXugui5BZsmirHICqc-GY1tH0q6n95wG0THz8s-OyV~VSBz5jyr5ufSJfzysmKqOb-ulw22-JhBcXCfSO4awcEVGAHbl9jsDsxftOaxXgdi-yOEy19ghD6Fvmf-QttdL2yKzTWKW4V0p1Gq6b3Kbn7rVlzg__&Key-Pair-Id=KUT5TJCACFTXG","author","Lexington","date","2025-02-18T00:00:00Z","article","The Budget, Finance and Economic Development Committee heard a monthly financial update on January 2025 showing overall revenues running close to budget, while staff warned that timing and encumbrances were driving short-term variances.

Director Holbrook said the city’s revenues were about 1% positive through the first seven months of fiscal 2025 and that personnel spending was within roughly 2.5% of budget. “We don't collect the same amount of revenue every single month. Our revenues have been very close this year, with a positive variance right now of 1%,” Holbrook said.

The update matters because the city’s largest and second-largest revenue streams come into focus during the spring tax season, staff told the committee. Holbrook noted net-profits collections were running about $1 million over budget to date and that some categories — notably insurance and golf revenues — were performing above budget, while certain service-fee collections and some franchise-fee timing had pulled other categories down. He also said some collections were delayed by mail and processing timing and that contract encumbrances explained a portion of current variances.

Director Luker provided additional detail on personnel and operating variances, saying the January accounting cycle included a one‑time jump in personnel budget authority and spending in January and that health‑insurance and some overtime and public‑works costs contributed to month‑to‑month movement. “In the month of January alone, we added about $45,000,000 of personnel budget to our budget. Out of that, we spent about $41,200,000,” Luker said, adding that some professional-services and material bills from the winter storm had not yet posted and would show up in February.

Committee members asked for fuller monthly reports. Council Member Gray pressed staff for a complete budget report that includes additional funds and divisions; Holbrook explained accounting’s monthly close typically runs through the 10th of each month and the earlier committee meeting date constrained inclusion of some fund reports in the packet.

The packet also included an ARPA financial summary for committee review.

Votes at a glance
- Approval of the committee summary for 01/21/2025: motion made and seconded; committee voice vote recorded as \"aye\" with no opposition; outcome: approved. (No mover/second named in the transcript.)
- Motion to adjourn: motion made and seconded; committee voice vote recorded as \"aye\" with no opposition; outcome: approved. (No mover/second named in the transcript.)

The committee moved next to an economic outlook presentation by the University of Kentucky and later to a parks funding briefing.","mediaType","Video","parentTitle","Lexington - Budget and Finance and Economic Development Committee on 2025-02-18 1:00 PM - Feb 18, 2025","oneSentenceSummary","The Budget, Finance and Economic Development Committee heard a monthly financial update on January 2025 showing overall revenues running close to budget, while staff warned that timing and encumbrances were driving short-term variances.","taxTitle","Lexington City, Fayette County, Kentucky","taxId",5707,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6666380,"Parks director previews how voter‑approved parks fund will guide capital repairs and new projects",2318,3762000,6080000,"/Search/View?dp=1&key=2333251-20d10bfdd82d18d05bf7c168a4a544db&start=3762&end=6080","https://assets.pipeline.soar.com/2333251-20d10bfdd82d18d05bf7c168a4a544db/thumbnail_3762000.jpg","/articles/6666380/Lexington-City/Fayette-County/Kentucky/Parks-director-previews-how-voterapproved-parks-fund-will-guide-capital-repairs-and-new-projects","https://secure.pipeline.soar.com/6666380-da4cf0c70382bd9a7c0b9107dfa0abd3/orig.mp4?Expires=1771216538&Signature=KpWtP9F4PkfBYKsBCeDunBSoLhPKC714JutUJjivkfSSQZT2HNXev-GF4D5p1jtyXqmjwAUF0pooHjjbmtGxUT4xUBxUrDklganMtTWC-oSKMGnRof2lWUH-RmrqT1wBzJsBNySZfHT-Ycgq9Xir9M7~LNK3xA6SxmDLNngzLobwtX7JqV60SLY2YwSjoCaCtdnm-ALGPpBBBTPCYCDLpfqlx0emXBHwMvdluZJ-NqACW45VdOLsXybPgr4JNOCKoe8VdgoysJjCcKJdyWwEsECFZkshHo33G04TCJuZmC83TuZbj284v4oWnGCwk-3VJhQfuT30QMhmK-F9DRomAA__&Key-Pair-Id=KUT5TJCACFTXG","The committee received an update on parks master planning and the proposed framework for spending the voter‑approved public parks fund. Parks Director Monica Conrad and Michelle Kaceniak, superintendent of planning and design, presented the department’s community‑engagement work, system needs analysis and initial proposals for how the parks fund will be used.

Director Conrad opened by noting the parks funding ballot referendum passed in November with 61% voter support and said the department is developing policies and a project‑selection framework to guide allocations. “We are early in the process, and we're looking forward to hearing your feedback,” Conrad said.

Michelle Kaceniak reviewed the 2018 Parks Master Plan’s public‑engagement process and analytical tools: the master plan engaged nearly 1,000 residents in person and about 2,000 respondents online or by mail, held workshops and 21 focus groups, and produced an action plan with roughly 198 assigned tasks. The plan used a layered social‑needs analysis and service‑area mapping; staff reported that about 59% of residents live within a 10‑minute walk of a park and about 70% live within a five‑minute walk or drive of a community or regional park. The master plan also contains individualized, prioritized recommendations for more than 100 parks.

Conrad described recent capital activity and operations: for fiscal 2024 parks expenses were about $27 million, of which roughly $17 million (65%) was personnel and about $9.5 million was operating. The department reported average capital spending of about $77 million per year during FY21–FY25, driven in part by ARPA and other one‑time investments; since ARPA the department completed 67 projects in 44 parks at a cost of $31 million, staff said. Conrad told the committee the department has about $123 million in outstanding capital improvements — a mix of deferred maintenance and capital replacement needs — and that the parks fund will prioritize protecting existing assets, life‑safety and neighborhood‑level infrastructure while balancing community access across the city.

Committee members asked how new capital additions change ongoing operating costs and how acquisition of new parkland will be funded. Conrad said operational impacts will be evaluated and that the existing park acquisition fund would continue to be used for land purchases; staff described efforts to prioritize capital investments to reduce future maintenance burdens. Council members also asked about the difference between the master plan and the department’s strategic plan; Conrad said the master plan addresses capital and system planning while the strategic plan updates mission, goals and the historically assigned action items.

Staff told the committee they will return in March with a proposed parks‑fund policy and timeline. The mayor’s proposed FY26 budget is expected to include FY26 parks‑fund projects in April, with final budget adoption in June.

Councilmember Baxter closed the parks discussion and said he was available to meet with colleagues about desired policy details prior to the March presentation.","Parks leadership told the committee the 2018 master plan and extensive community engagement guided prior ARPA investments and will form the basis for allocating the new parks fund. Staff emphasized protecting assets, addressing deferred maintenance and transparent, geographically balanced project selection; a policy proposal is expected in March.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6666383,"UK economist tells committee economy will grow more slowly; payroll-tax growth still positive",1248,870000,2118000,"/Search/View?dp=1&key=2333251-20d10bfdd82d18d05bf7c168a4a544db&start=870&end=2118","https://assets.pipeline.soar.com/2333251-20d10bfdd82d18d05bf7c168a4a544db/thumbnail_870000.jpg","/articles/6666383/Lexington-City/Fayette-County/Kentucky/UK-economist-tells-committee-economy-will-grow-more-slowly-payroll-tax-growth-still-positive","https://secure.pipeline.soar.com/6666383-c4a33dea2379dc8e7f6586970011241f/orig.mp4?Expires=1771216538&Signature=S8KnBU~N0gfz9MjgIhIeLVsFmaVasCmDp353Ncnx1eXnvayxJKy1a4VBt6ckjMGDrQC1JMqecOyzm9xbJ-8ftWxy~AeVYyfJLqYmRoFqKYlNmxxPVahpoPAtEUJ6XAc-2JYWdIng2SON6DVBr-1jaQS7yTSwBLn8ScJlUEdXx5FQsojhPmCQXYoVjIkPcS-Nf9xoSFbLwwuZ~C6VV~QOLa49gcqlx7NEXy8n0MV9X~8nRrzKWKbHgMGUaME6thsm8EL-PQxOVSgk4~tkpU30t6q9OG8o-Hdlf8EpmIShyUMHGLc9YcwGWqPZlXwngrdR0TjRCzu4cLQRNg9HodHo8w__&Key-Pair-Id=KUT5TJCACFTXG","The Budget, Finance and Economic Development Committee received the University of Kentucky’s annual Lexington economic outlook and occupational‑tax forecast from Dr. Michael Clark, director of the Center for Business and Economic Research at UK’s Gatton College.

Clark told the committee that, after an unusually strong post‑pandemic run, employment and wage growth were moderating and returning toward pre‑pandemic norms. “Despite a lot of things going on, the economy actually seems to be in relatively good shape,” Clark said, while warning that growth rates will be lower than the extraordinary gains seen earlier in the decade.

Clark said staff forecast the occupational (payroll) tax base will continue to grow but at slower rates, projecting about 4.5% growth for payroll tax revenue in 2025 and roughly 4.1% in 2026. He described net‑profits receipts as especially difficult to predict; staff expect net profits to rebound in 2025 (about a 7% increase) and to ease in 2026 (near a 1.2% decrease in the forecast). Clark also explained that recent increases in the local unemployment rate reflected more people entering the labor force, not a decline in the number of people working.

Clark flagged the principal risks to his forecast as trade policy (tariffs), Federal Reserve rate decisions, and changes in labor‑supply trends tied to immigration and national policy. “When we start looking at tariffs… that ends up being inflationary pressure,” he said, adding that higher or persistent inflation could alter Federal Reserve actions and economic outcomes.

Committee members probed several topics: Vice Mayor Wu asked about the drivers of wage growth versus employment; Clark pointed to long‑term productivity gains (technology, skills) and short‑term labor‑market tightness affecting wages. Council Member Sabigny asked about geographic and data sources; Clark explained the team uses both MSA data for timelier monthly readings and unemployment‑insurance payroll data for more precise county counts (the latter is lagged). Other members raised sectoral questions about manufacturing and information‑sector trends, and about how University of Kentucky employment figures are classified for local statistics.

Clark concluded by reiterating the forecast takeaway: continued growth but at a slower, more sustainable pace than the outsized gains following the pandemic.

The committee then moved on to a parks funding briefing.","Dr. Michael Clark of the University of Kentucky told the committee that Lexington’s economy should continue to grow but at a slower, more typical pace than the post‑pandemic surge. Staff forecast payroll‑tax revenue growth of about 4.5% in 2025 and 4.1% in 2026 and warned that net‑profits collections are volatile.","actionData","errors"]

Article not found

Committee hears January financial update: revenues close to budget, timing issues cited

Parks director previews how voter‑approved parks fund will guide capital repairs and new projects

UK economist tells committee economy will grow more slowly; payroll-tax growth still positive