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CITY COUNCIL <br />AGENDA ITEM 2A (ii) <br />STAFF ORIGINATOR: Hannah Lynch, Finance Director <br />MEETING DATE: December 12, 2022 <br />TOPIC: Consider Resolution No. 22-145, Adopting the Final 2023 General <br />Fund Operating Budget <br />VOTE REQUIRED: 3/5 <br />BACKGROUND <br />A public hearing was held tonight to take public comment on the budget. A summary of the <br />proposed final budget and tax levy was presented and discussed during the public hearing. <br />The final 2023 budget is balanced with revenues and expenditures of $12,177,416, which represents <br />a 4.39% increase over the 2022 adopted budget. The total increase to the base budget for 2023 is <br />$631,530 and items contributing to the increase are outlined on pages 9-10 of the 2023 Proposed <br />Final Budget & Tax Levy. <br />The 2023 budget is balanced with no use of reserves and $20,000 in transfers from other funds. This <br />maintains an Unassigned Fund Balance of 59% of operating expenditures, consistent with the <br />current Fund Balance Policy. It should be noted that $500,000 of reserves were used to balance the <br />2022 adopted budget. <br />The City Council needs to take final action to approve the budget at this time. <br />RECOMMENDATION <br />Staff recommends the approval of Resolution No. 22-145. <br />ATTACHMENTS <br />Resolution No. 22-145 <br />