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ete1 (/il a IBSO W.i. Street, (r a vt& 7NNS5039 <br />FStafftAed 185% C�51-d29-3232arReX01429-F629 <br />Memorandum <br />Date: July 27, 2022 <br />To: Honorable Mayor and City Council Members <br />Through: Mark R. Statz, City Administrator/City Engineer <br />From: Bruce DeJong, Finance Director <br />Item: Preliminary Budget Discussion <br />Staff has met with department directors and reviewed the budget quite thoroughly. We are pleased to <br />present a preliminary budget that is quite reasonable given the current economic climate with inflation <br />running at over 9% recently. <br />General Fund spending is estimated to be $102,980 higher in 2023, driven primarily by increases to the <br />Police and Fire contracts totaling almost $69,000. Revenues are anticipated to drop by $17,259 <br />primarily due to a loss of over $27,000 in Local Government Aid (LGA). Details are provided in the <br />table below: <br />Account Description <br />$ Incr/(Decr) <br />Reason <br />Revenues <br />Gambling Tax 10% <br />12,000 <br />Match recent experience <br />Fire Relief Aid <br />7,000 <br />Match recent experience - pass through <br />Other Misc Rev Changes <br />3,367 <br />Match recent experience <br />Rental/Liquor Licenses <br />(6,000) <br />Match recent experience <br />Police State Aid <br />(6,000) <br />Match recent experience <br />Local Government Aid <br />(27,626) <br />Reduction due to formula <br />Total Revenue Chanae <br />(17.259) <br />Revenue Reduction <br />