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SUBJECT: RESOLUTION NO. 65, SERIES 2023 <br />DATE: NOVEMBER 6, 2023 PAGE 4 OF 4 <br />URA Marketing: $75,870 <br />o The 2024 Budget previously included $75,870 for Public Involvement <br />Activities. The LRC is reallocating this funding to URA Marketing. The 2023 <br />Budget included $150,000 for URA Marketing. <br />Capital Contributions — Downtown Lights: $72,000 <br />o The LRC previously budgeted $72,000 for Downtown Lights for 2024. The <br />LRC chose to keep this item in its 2024 Budget. <br />Endinq Fund Balance <br />Considering the items above, the proposed budget calculates a 2024 ending fund balance <br />of $1,253,312. <br />FISCAL IMPACT: <br />There is no direct fiscal impact to the City from the LRC Annual Budget for 2024. Per <br />the Cooperation Agreement, this budget plan is presented for Council consideration and <br />approval. <br />PROGRAM/SUB-PROGRAM IMPACT: <br />The LRC's work facilitates investment in the City's Urban Revitalization District. <br />RECOMMENDATION: <br />Staff recommends approval of the Annual Budget for the Louisville Revitalization <br />Commission for the Fiscal Year 2024. <br />ATTACHMENT(S): <br />1. Resolution Approving the Annual Budget for the Louisville Revitalization <br />Commission for the Fiscal Year 2024 <br />2. Exhibit A; 2024 Budget Exhibit <br />STRATEGIC PLAN IMPACT: <br />❑ <br />Financial Stewardship & <br />ElReliable <br />Core Services <br />0 <br />Asset Management <br />❑i� <br />Vibrant Economic <br />ElQuality <br />Programs & <br />Climate <br />Amenities <br />roftk <br />❑ <br />Engaged Community <br />❑ <br />Healthy Workforce <br />® <br />0 Supportive Technology <br />❑ <br />• Collaborative Regional <br />Partner <br />CITY COUNCIL COMMUNICATION <br />27 <br />