Laserfiche WebLink
<br /> <br /> <br /> <br /> <br />Memorandum <br /> <br /> <br />Date: June 28, 2023 <br /> <br />To: Honorable Mayor and City Council Members <br /> <br />Through: Athanasia Lewis, Assistant City Administrator <br /> <br />From: Bruce DeJong, Finance Director <br /> <br />Item: Preliminary Budget Discussion <br /> <br />The Finance Director has prepared this preliminary budget projection with input from <br />other staff. This is a review based on analysis of the past three years of actual revenues <br />and expenditures supplemented with some insight into the likelihood of changes for the <br />following year. <br /> <br />This rough estimate shows an increase of just over $275,000 in the General Fund <br />expenditures. The vast majority of the anticipated increases are due to public safety <br />costs. $155,000 is from an anticipated Police joint powers change in formula and <br />increasing expenditures. There is also $36,000 in increased Fire costs. This $191,000 <br />cost increase is partially offset by a one-time state public safety grant of $171,000. <br /> <br />The next large change is an anticipated 5% increase in employee wages and benefits. <br />This includes $1,200 ($50 per meeting) for the Junior Council Member position. This <br />leads to increased FICA and PERA costs. This adjustment to all departments with salary <br />expenses adds up to $41,000 in total for the General Fund. <br /> <br />The other adjustments to expenditures are more minor and reflect cost trends, <br />development trends, and staff projections of need in various line items. We have <br />highlighted all changes of $3,000 or more in the table below. This table summarizes all <br />changes to both revenues and expenditures for the 2024 budget cycle with the exception <br />of the property tax levy. The tax levy is added in an amount to create a balanced budget <br />with revenues and expenditures matching each other. <br /> <br /> <br />