LAWTON — Lawton residents are invited to the first of two public hearings to discuss how to use unallocated funds generated from the Propel CIP during fiscal year 2022/2023.
The meeting is scheduled for 2 p.m. Tuesday, April 25 at Lawton City Hall.
The city’s finance department estimates an additional $5.4 million in revenue will be collected by June 30 for the fiscal year 2022-2023 budget year, according to a release from City Hall. The additional $5.4 million is based on sales tax projections for the remainder of the fiscal year.
The resolution of intent originally estimated $23.5 million would be collected from the two and one-eighth percent (2.125%) sales tax, and any additional collections need to be allocated by the Lawton City Council after two public meetings. Residents may weigh in on whether to roll these inflationary unallocated funds into FY 2023-2024’s budget or use them before the end of the fiscal year on a number of projects listed under the CIP’s resolution of intent.
Options include improvements to infrastructure, information technology systems, city beautification, youth programs and retail developments.
A complete list of acceptable expenditures is available at www.lawtonok.gov.