12-14-2022 Council Packet - Laserfiche WebLink

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Strategic Plan Initiatives included in 2023 General Fund Budget: 1. Enhancing Identity and Empowering Community  Translation of newsletter into another language  Budgeted for contracted services for the proposed administration/communication FTE position i. Conduct community survey ii. Develop community outreach program iii. Diversity, Equity, & Inclusion (DEI) initiative iv. Community vision event/activity v. Community culture campaign 2. Creating Operational Efficiency  Contracted services for exploring alternative options for public safety services  Staff capacity gap analysis  Resiliency: Increased Staff Capacity - Public Work Apprentice promoted to PW Maintenance 3. Maximize the City’s Assets to Catalyze Development  TIF Loan Agreement – Twin Lakes Apartments Project  Contractual Services for First Year Actions - ($4,000 General Fund Levy. Looking at alternative funding options from Economic Development Fund) Additional Levy Reductions: City staff provided a list of potential ways to reduce the levy at City Council workshops on August 10 and August 24. Potential reductions included specific line-item reductions, a reduction in the levy for the Fire Equipment Fund or Capital Infrastructure Fund, reductions to the Cost of Living Adjustment (COLA) for personnel services, or utilizing existing fund balance. Several adjustments were made based on direction provided by the City Council, and no further recommendations were provided prior to the adoption of the preliminary budget and levy on September 14. If additional levy reductions are desired, the City Council may consider the following. Approximately $37,000 will decrease the levy by 1%. • Utilize existing General Fund balance. Use General Fund balance for the $100,000 contracted services for exploring alternative options for public safety services rather than levy for this amount. This will decrease the levy approximately 2.72% if the entire amount is financed with fund balance, reducing the levy to 9.03%. This option is available for 2023 since estimated revenues for building permits in 2022 are coming in over budget by approximately 100,000. It is important to note that this would be a one-time expenditure and if the $100,000 for police contracted services becomes permanent in future years, this expenditure will need to be included in the levy rather than financed with fund balance and will increase the levy. • Reduce Cost of Living Adjustment (COLA). For each COLA adjustment decrease of .50%, the savings is approximately $9,000 in the General Fund or .25% levy decrease.