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Page 2 of 2 <br /> <br /> <br /> <br />Budget Impact <br /> <br />The 2022 audit has yet to be complete, but the anticipated ending fund balance for 2022 is $60,643, <br />with a projected use of funds of $41,570 for 2023, which would mean an anticipated fund balance <br />of $19,073 at the end of 2023 (this is not taking into account this project). This means that this fund <br />could not support this capital project with out increasing revenues to this fund, cutting <br />expenditures, or a cash infusion. Short-term solutions to fund this project could be: using surplus <br />General Fund balance from 2022 or using a portion of the funds the City made from the sale of the <br />Ridgewood property. This fund, 228 – Cable TV Fund, is primarily supported by franchise and <br />other fees from cable companies, these fees are decreasing as franchise fees decrease due to users <br />moving away from cable and towards streaming services. This fund, regardless of how Council <br />wants to proceed, will be evaluated as part of the annual budget process to determine what, if any, <br />changes need to be made. <br /> <br />Attachment <br /> <br />Attachment A: 2023 Fund 228 Budget