Laserfiche WebLink
Reserves <br />Reserves should only be used for expenditures that are non-recurring in nature. While the <br />use of reserves is not recommended to balance the 2022 General Fund budget, the <br />following reserves are available: <br />•$500,000 General Fund Reserves <br />•$679,809 Closed Bond Fund Reserves (have also been identified as potential <br />funding for the Rec Center) <br />General Fund Reserves in the amount of $21,832 were used in 2021 to balance the budget <br />and are currently not included as a funding source in the draft budget. <br />Requested Council Direction <br />Staff is prepared to discuss the draft budget and tax levy with the City Council during the <br />initial budget work session on Monday, July 26th. <br />Budget work sessions may be scheduled at the discretion of the Council to achieve the <br />desired budget level for 2022. Council action is requested by the September 27th meeting <br />in order to set the preliminary tax levy and to schedule a public hearing date in December <br />on the budget and tax levy. The preliminary levy set at the September meeting may not <br />be increased thereafter, but may be lowered before approving the final budget and levy in <br />December. <br />Attachments <br />Gap Analysis <br />2022 Draft Budget and Tax Levy <br />2022 Base Budget Adjustments <br />5