Debt Capacity Presentation

City Council heard a presentation from the City’s finance director on the City’s debt capacity and the history of the City’s bond issuance. The status of proceeds and the debt service schedule of the City’s six active general obligation bonds were discussed. The presentation indicated that the City continues to pay off its debts and is not incurring additional debt. City Council would like to see new debt issuance next year for the purpose of funding infrastructure.

City Council held a public hearing on the City of Lee’s Summit’s proposed budget for fiscal year 2023 (July 1, 2022 – June 30, 2023). The total budget expenditure requested is $264,347,539 which includes all proposed funding for daily operations, capital improvements, debt service, internal services and enterprise operations.

Council approved the first reading of an ordinance approving the budgets for the City of Lee’s Summit, Municipal Court Division, Fire Department, and the Pay and Classification Plan for employees of the City.

City Council heard a presentation on possible uses of the $8.3 million in American Recovery Plan Act (ARPA) funds appropriated to the City of Lee’s Summit by the federal government. The federal government requires that the funds be used to mitigate the negative fiscal impact of COVID-19. Funds must be spent by December 31, 2024.

Over 80 projects estimated at $32 million, were submitted for consideration. Each project was scored based on various criteria such as quality of life impact, population served and population reach. After hearing the presentation, staff was given feedback from council to prioritize funding for fire station construction overruns and the Downtown Market Plaza.