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HomeMy WebLinkAboutProposed Budget Adoption Day 9.14.21 revised 2 KDFY 2021-2022 Proposed Budget September 14, 2021 1 Increases (Decreases) to Proposed Budget General Fund Expenditures •Police Collective Bargaining Proposal $350,000 •City Attorney Transfer 1 position to Dev Serv ($55,229) •Development Services Transfer 1 position from City Atty $55,229 •Reduction due to Lease versus Purchase of Vehicles ($900,000) Total General Fund ($550,000) 2 General Fund FY 2021 Estimate FY 2022 Proposed FY 2022 Revised FY 2022 Difference Revenues 80,239,407 77,809,914 77,809,914 - Operating Expenditures 67,125,002 71,755,046 72,105,046 350,000 Transfers to Capital Impr.13,144,806 7,869,000 7,869,000 Other Transfers 5,378,335 5,649,500 4,749,500 (900,000) Rev over (under) Exp (5,408,736)(7,463,632)(6,913,632)(550,000) Beginning Fund Balance 32,874,364 27,465,628 27,465,628 - Ending Fund Balance 27,465,628 20,001,996 20,551,996 550,000 3 General Fund FY 2021 Estimate FY 2022 Proposed FY 2022 Revised FY 2022 Difference Operating Revenues 73,974,659 72,334,600 72,334,600 - Operating Expenditures 67,125,002 71,755,046 72,105,046 350,000 Rev over (under) Exp 6,849,657 579,554 229,554 350,000 - 4 General Fund Transfers To Other Funds FY 2021 Estimate FY 2022 Proposed FY 2022 Revised FY 2022 Difference Capital Improvement 13,144,806 7,869,000 7,869,000 - Capital Reserve 2,340,135 3,493,000 2,593,000 (900,000) Solid Waste 1,000,000 - General Liability 1,875,000 1,875,000 1,875,000 - EDC 72,000 72,000 - Transit Operating 21,000 21,000 - Health Grant 108,000 96,000 96,000 - Golf Course 50,000 50,000 50,000 - TIRZ 5,200 42,500 42,500 - Total 18,523,141 13,518,500 12,618,500 (900,000)5 Fund Balance Policy Target Fund Balance =60 days operating expenditures + $1.5M FY2021 Estimated Days FY 2022 Proposed Days FY 2022 Revised Days Ending Fund Balance $27.4 149 $20.0M 102 $20.5M 104 Required Minimum + $1.5 million $12.5 68 $13.3M 68 $13.3M 68 Excess $14.9 81 $6.7M 34 $7.2M 36 6 General Fund Revenue FY 2021 Estimate FY 2022 Proposed FY 2022 Difference Property Taxes 15,039,000 15,735,000 696,000 Industrial Payments 34,372,046 33,340,000 (1,032,046) Sales Tax 11,910,000 12,275,000 365,000 Gross Receipts 7,952,000 8,550,000 598,000 Other Revenues 4,701,613 2,434,600 (2,267,013) Transfers In 6,264,748 5,475,314 (789,434) Total Revenues 80,239,407 77,809,914 (2,429,493) 7 Other Increases (Decreases) to Proposed Budget Decrease in Change in Reductions Due to Lease vs Purch of Vehicles Expenditure Ending Bal Water Fund ($180,000)$180,000 Solid Waste Fund ($15,000)$15,000 Regulatory Enforcement Fund ($35,000)$35,000 Capital Reserve Fund ($1,130,000) ----- 8