HomeMy WebLinkAboutProposed Budget Public Hearing 8.31.21FY 2021-2022
Proposed Budget
Public Hearing -Budget
August 31, 2021
1
Highlights
•A focus of this budget is on Capital Projects
•Includes a five-year capital plan to assist in long term financial planning
•FY2022 capital budget includes a total of $53.3 million in projects, including:
•$13.5 million Streets Projects
•$26.6 million in projects funded by the American Recue Plan Act (ARPA)
•$4.3 million City Facilities
•$1.3 million Parks and Recreation
2
FY 2021-2022
Budget Highlights
•Tax Rate reduction of $0.05 -From $0.792 to 0.740715 per $100 Valuation
•Salary Increase for all employees –2%
•Budgets are balanced in all major operating funds with the exception of
transfers to capital improvements
•Some adjustments to current rate structure for Water and Solid Waste
•Overall –operating departments are budgeted at a “status quo” with limited
additions.
3
FY 2021-2022 Budget Highlights
•Funding for Capital Improvements primarily from operations, new bond issues and
grants
•From Operations
•General Fund $7.9 million
•Water Utilities Fund $1.5 million
•New Bond Issues
•General Revenue $10 million Street Reconstruction Program
•Grants
•American Rescue Plan Act $26.6 million
4
FY 2021-2022 Budget Highlights
•Changes include:
•Equipment purchases of $5.8 million ($2.7 million new, $3.1 million replacement)
•New technology purchases of $360,000
•Increase of 10 authorized positions (3 are grant funded)
•Increase of 3.8% in projected costs for health insurance
•Increase of 9.4% in projected costs for general property insurance
5
Fund Balance Policy
Target Fund Balance=60 days operating expenditures
Oper. Exp.
Days
General Fund Ending Balance (FY2022)$20.0 M 102
Required $11.8 M 60
General Fund Additional Policy Requirement $1.5 M 8
Excess $6.7 M 34
6
General Fund
Summary
FY 2021
Budget
FY 2021
Estimate
FY 2022
Proposed
Revenues 76,560,164 80,239,407 77,809,914
Operating Expenditures 68,712,191 66,202,126 71,755,046
Transfers & Other Exp 18,523,141 19,446,017 13,518,500
Rev over (under) Exp (10,675,168)(5,408,736)(7,463,632)
Beginning Balance 32,874,364 32,874,364 27,465,628
Ending Balance 22,199,196 27,465,628 20,001,996
7
Water Utility Fund
Summary
FY 2021 Budget FY 2021 Estimate FY 2022 Proposed
Revenues 28,275,003 30,184,000 30,984,000
Operating
Expenditures 19,487,084 19,616,989 21,488,119
Transfers out 8,694,841 8,564,841 9,271,098
Revenue over
(under) expenses $ 93,078 $ 2,002,170 $ 224,783
8
Solid Waste Fund
Summary
FY 2021 Budget FY 2021 Estimate FY 2022 Proposed
Revenues 10,870,000 10,185,100 10,510,100
Operating
Expenditures 8,087,202 8,087,000 7,091,330
Transfers out 2,824,684 2,824,684 3,396,386
Revenue over
(under) expenses $ (41,886)$ (726,584)$ 22,384
9
Key Dates
•August 13 Proposed budget was filed with the City Secretary and
posted on the City’s website
•August 17 City Council Proposed Budget Overview
•August 31 Public Hearing on Budget and City Council Budget Workshop
•Sept. 7 Public Hearing on Tax Rate and City Council Budget Workshop
•Sept. 14 Adoption of the Budget Ordinance
Denotes a special Council Meeting
10