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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 />