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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 />