2023 Adopted Budget - Laserfiche WebLink

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City Council Members, Citizens and Others: It is my privilege to present the 2023 budget for the City of Gem Lake. This budget, as adopted by the City Council identifies how the City resources will be spent in 2023. This budget is the City's financial management plan and has been designed to be responsive to public service demands and for carrying out services over the coming year. The 2023 budget is the result of sound financial management, and affords some protection for the future operation of the City. It is the City's intent to submit and manage the budget in the most open and straightforward manner possible, which will allow consistent and careful management of all resources. The City continually faces many challenges, which draw upon the resources and value judgments of all of us. The City budget focus has been to maintain services provided and existing infrastructure. To help maintain services funds are budgeted to replace the City's software infrastructure. Public safety remains a priority for the City. Also for 2022, the City has included increases to both the police and fire budgets and a contingency budget of $9,000. The road maintenance budget includes funds for a possible seal coat project to help the roads last longer. Finally, $20,000 is being budgeted to fund future capital projects in the City. On the revenue side, the largest revenue source is property taxes, which make up almost 90.0% of total revenues for the City. The 2023 property tax levy is increased 19.495% and the City's tax capacity increase 12.287%, which results in a tax rate of 40.651 % compared to 38.199% in 2022. Based on this most residents would see an increase in their City property tax bills from 2022 to 2023. As 2023 unfolds, the City is well positioned to meet current and future challenges through sound fiscal management. It is our hope this budget will meet the expectations and need of Gem Lake residents. My sincere thanks are extended to the City Council for their time and effort in the preparation of this document. Respectfully, Tom Kelly City Treasurer