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2018 General Fund unassigned fund balance is $3,952,927 this represents 53.43% of 2019 budgeted expenditures <br />and transfers compared with 53.08% for the prior year. The General Fund also has Assigned fund balance for Levy <br />Reduction of $5,337,607, and $250,000 to balance the subsequent budget. It has been the Council's policy to <br />draw down the levy reduction funds over time. <br />The City Council adopted a strategic plan for 2020 thru 2022. One of the City's strategic goals is to develop a <br />balanced budget and reduce reliance on the Levy Reduction fund and LGA by 3% to 5% from 2020 thru 2022. The <br />General Fund deficit will be $475,000 to $525,000 this will be partially offset by the drawdown of assigned (levy <br />reduction) funds of $246,000 which reflects the strategic goal. This will leave a deficit of approximately $229,000 <br />to $279,000 before considering any expenditure reductions or a levy increase. <br />Conclusion <br />Staff is looking for direction from the Council on priorities for the budget and property tax levy. The above items <br />are some of the issues that will drive the 2019 budget and are presented for your consideration. <br />Respectfully Submitted, <br />Mark Beer <br />