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Page 4 of 5 <br />While these goals and objectives can be fairly broad in scope and still remain purposeful, the following 97 <br />factors may help the City Council establish more defined direction: 98 <br /> 99 <br />1) The desire for changes in programs or service levels (e.g.. are the condition of city 100 <br />streets or public safety-related services acceptable?) 101 <br />2) The need to establish new programs or initiatives (e.g. are there any unmet needs that 102 <br />should be addressed?) 103 <br />3) The acceptable level of property tax and fee impacts on homeowners (e.g. given the 104 <br />programs and services we aspire to, is the associated burden on homeowners acceptable?) 105 <br /> 106 <br />Finally, Staff will remind the Council of the status of the unrestricted cash reserve levels in the City’s 107 <br />discretionary operating funds as of 12/31/22 including the transfers of ‘excess cash’ into the established 108 <br />Cash Reserve Fund. 109 <br /> 110 <br /> 111 <br /> 112 113 <br />The Council is reminded that the cash reserve levels depicted above represent a snapshot in time and 114 <br />are fluctuating on a daily basis. They are not an indication of what our reserve levels will be at year-115 <br />end. With regard to the monies held in Cash Reserve Fund, the City Council can determine whether 116 <br />they want to redeploy the funds for budgetary purposes or retain for other priorities and service 117 <br />delivery. 118 <br />POLICY OBJECTIVE 119 <br />Establishing City Council budgetary goals fosters greater community awareness and understanding of the 120 <br />financial commitments necessary to provide programs and services. It also lays the foundation for the 121 <br />creation of a City Manager Recommended Budget. 122 <br />FINANCIAL IMPACTS 123 <br />Not applicable. 124 <br />RACIAL EQUITY IMPACT SUMMARY 125 <br />Generally speaking, the city’s budget will have a large racial equity impact in the community and these 126 <br />impacts will be discussed in the future as the 2024 budget is presented. For the information contained 127 <br />in this case, numerous law changes mentioned were adopted partially to address racial equity inequities. 128 <br />These include, paid family and medical leave, earned sick and safe time, legalizing adult-use cannabis, 129 <br />and additional funding for housing, transportation, and climate resiliency projects 130 <br />Audited 12/31/2022 <br />12/31/2022 Less Available 12/31/2022 Dedicated <br />Cash From Cash Reserve Use from Target Target <br />Operating Fund Reserves Donations Reserves Level 2023 Budget Low High <br />General: Primary 7,579,560$ (80,708)$ 7,498,852$ 36%35% 50% <br />General: Cash Reserve Fund 647,312 - 647,312 (306,000) <br />Parks & Recreation 2,042,694 (328,085) 1,714,609 30%20% 30% <br />Communications 26,103 - 26,103 5%10% 30% <br />(1)Information Technology 3,375 - 3,375 0.39%10% 15% <br />License Center 248,211 - 248,211 11%10% 15% <br />(1) This fund will be folded into the Administration department within the General Fund <br />so no transfer from the cash reserve fund is recommended at this time.