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CITY COUNCIL <br />AGENDA ITEM 2A <br />STAFF ORIGINATOR: Hannah Lynch <br />MEETING DATE: January 10, 2022 <br />TOPIC: Consider Resolution No. 22-10, Amending the 2021 General Fund <br />Operating Budget <br />VOTE REQUIRED: 3/5 <br />BACKGROUND <br />Adopted budgets are amended over the course of the year for a variety of reasons. Factors that lead <br />to budget amendments include fiscal decisions made throughout the year, economic conditions, and <br />changes in budget projections. Significant amendments are outlined below. <br />On the revenue side, residential development, primarily Watermark, contributed to increased permit <br />revenue. In addition, the use of committed fund balance for Tower Park contributed to increased use <br />of General Fund reserves. <br />On the expenditure side, vacancies in the police department and a decrease in cross -trained police <br />officers contributed to a decrease in personnel costs. In addition, the use of committed fund balance <br />for Tower Park contributed to increased capital outlay expenditures. <br />Staff has prepared a listing of proposed budget adjustments for conditions that are known today <br />for City Council consideration. The original adopted budget included a use of reserves in the <br />amount of $21,832; the amended budget includes an addition to reserves of $860,695. <br />RECOMMENDATION <br />Staff recommends the approval of Resolution No. 22-10. <br />ATTACHMENTS <br />Resolution No. 22-10 <br />