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CITY COUNCIL <br />AGENDA ITEM 2A (ii) <br /> <br /> <br />STAFF ORIGINATOR: Hannah Lynch , Finance Director <br /> <br />MEETING DATE: December 13, 2021 <br /> <br />TOPIC: Consider Resolution No. 21-146, Adopting the Final 2022 General <br />Fund Operating Budget <br /> <br />VOTE REQUIRED: 3/5 <br /> <br /> <br />BACKGROUND <br /> <br />A public hearing was held tonight to take public comment on the budget. A summary of the <br />proposed budget and tax levy was presented and discussed during the public hearing. <br /> <br />The final 2022 budget is balanced with revenues and expenditures of $11,664,762, which represents <br />a 1.26% increase over the 2021 adopted budget. The total increase to the base budget for 2022 is <br />$976,447 and items contributing to the increase are outlined on pages 11-12 of the 2022 Final <br />Proposed Budget & Tax Levy. <br /> <br />The 2022 budget is balanced with $500,000 of reserves and $40,000 transfers from other funds. <br />This maintains an Unassigned Fund Balance of 55% of operating expenditures, consistent with the <br />current Fund Balance policy. It should be noted that $21,832 of reserves were used to balance the <br />2021 adopted budget. <br /> <br />The City Council needs to take final action to approve the budget at this time. <br /> <br />RECOMMENDATION <br /> <br />Staff recommends the approval of Resolution No. 21-146. <br /> <br />ATTACHMENTS <br /> <br />Resolution No. 21-146