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CITY COUNCIL AGENDA ITEM 2A (ii) STAFF ORIGINATOR: Hannah Lynch MEETING DATE: December 14, 2020 TOPIC: Consider Resolution No. 20-155, Adopting the Final 2021 General Fund Operating Budget VOTE REQUIRED: 3/5 BACKGROUND A public hearing was held tonight to take public comment on the budget. A summary of the proposed budget and tax levy was presented and discussed during the public hearing. The final 2021 budget is balanced with revenues and expenditures of $11,519,400, which represents a 2.90% increase over the 2020 adopted budget. The total increase to the base budget for 2021 is $308,970 primarily due to: Increases • Increased IT Consultant funding - $13,804 • Police Personnel Additions - $101,901 • Police Other Services and Charges - $23,705 • Fire Turn -Out Gear Replacement funding - $28,400 • Net Street Expenses - $47,500 (Mulch & Plantings, Street Lights, Message Sign) • Increased Liability & Property Insurance Premiums - $18,603 • Net Park Expenses - $71,000 (Engineered Wood Fiber, Wenzel Park Boardwalk, Engineering, Trail Repairs, Sunrise Park Rink Lights, Marshan Boardwalk) • Increased Pavement Management funding - $81,113 Decreases • Decreased Elections Administration funding - $31,290 • Decreased Recreation funding - $19,600 • Decreased Parks & Trail Improvement funding - $30,000 The 2021 budget is balanced with the the use of reserves in the amount of $21,832. It should be noted that $200,000 of reserves and $380,000 of transfers from other funds were used to balance the 2020 adopted budget. This maintains an Unassigned Fund Balance of 51% of operating expenditures, consistent with the current Fund Balance policy. The City Council needs to take final action to approve the budget at this time.