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CCP 09262022
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CCP 09262022
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9/23/2022 2:59:40 PM
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Roseville City Council
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Council Agenda/Packets
Meeting Date
9/26/2022
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Attachment E <br />438 Excess Cash Fund Reserves <br />439 The Excess Cash Reserve Fund currently has a balance of $700,501. This fund receives dollars <br />440 from other city funds that exceed the maximum fund balance outlined by city policy. In order to <br />441 limit the needed levy support for the overall budget, a portion of the Excess Cash Reserves is <br />442 proposed tobe utilized as part of the 2023 budget. These uses are as follows: <br />443 <br />444 Parks and Rec Vehicle and Equipment Fund $200,000 (No tax levy impact) <br />445 Using a one-time infusion of $200,000 from the Excess Cash Reserve Fund will result in the Park <br />446 and Recreation Vehicle and Equipment Fund having a sufficient balance to pay for the identified <br />447 capital expenditures through 2034. Without the addition of the $200,000, the fund balance of the <br />448 Parks and Recreation Vehicle and Equipment Fund would be in a deficit in 2024. <br />449 <br />450 Excess Cash Reserve Fund – Potential Fuel Costs $126,000 (No tax levy impact) <br />451 In 2022, fuel prices dramatically increased across the country. The city buys a large portion of its <br />452 fuel in bulk as part of the state contract at the beginning of the year and buys the remaining <br />453 amount on the market as needed. In anticipation of fuel prices staying at a higher level into 2023, <br />454 $126,000 from the Excess Cash Reserve Fund is proposed to be allocated as part of the 2023 <br />455 budget. If fuel costs return to a lower level in 2023, dollars from the Excess Cash Reserve will not <br />456 be needed. <br />457 <br />458 <br />Strategic Use of Financial Reserves and Grant Funding <br /> New Tax Levy Support <br /> <br />Grant Funding <br /> <br /> <br /> $ <br />ARPA -Embedded Social Worker ($105,000) - <br /> <br /> $ <br />ARPA -Water CIP Projects ($500,000) - <br /> <br /> $ <br />ARPA -Housing Navigator ($39,100) - <br /> <br /> $ <br />nd <br />ARPA - 2 SRO Roseville Areas Schools ($40,000) <br />- <br /> <br /> $ <br />ARPA -Police Dept. wellness program ($30,000) - <br /> <br /> $ <br />ARPA -Metro-INET increase ($100,000) - <br /> <br /> $ <br /> <br />Total - <br /> <br /> <br />Use of Reserves <br /> <br /> <br /> $ <br />General Fund – Compensation Study ($130,000) - <br /> <br /> $ <br />General Fund –Recodification ($60,000)- <br /> <br /> $ <br />General Fund - Strategic Plan ($30,000) - <br /> <br /> <br />
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