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Information technology costs (phones, computers, copiers, cameras, squad computers, network switches, desktop <br />services, virtual servers, internet, email, software, laserfiche, anti -virus, VPN connections, and facility WiFi) will <br />increase by 5-7% due to additional services and transition to a joint powers entity away from the City of Roseville. <br />This moves Roseville employees to the joint powers entity for long term stability and continuity. This continues <br />to be an excellent value for the City. <br />Fuel prices were budgeted at $2.75 unleaded and $3.30 for diesel for 2022, with the current economic conditions <br />staff is recommending $3.75 and $4.50 for 2023. <br />Overall most revenues that are tied to economic activity will be improving over 2022. Investment income will <br />increase modestly in 2023 as a result of Federal Reserve activities. The franchise fee rate is at 4.00%, the revenue <br />is split between the General fund and the Street Improvement fund. <br />2021 General Fund unassigned fund balance is $5,037,325 this represents 62.46% of 2022 budgeted revenues and <br />transfers compared with 63.50% for the prior year. The General Fund also has Assigned fund balance for Levy <br />Reduction of $4,835,391, and $238,000 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 is updating the current strategic plan for 2023 thru 2025. One of the City's strategic goals is to <br />develop a balanced budget and reduce reliance on the Levy Reduction Assigned Fund balance by 5% to 8% for <br />2023 thru 2025. The General Fund deficit will be $500,000 to $600,000 this will be partially offset by the drawdown <br />of assigned (levy reduction) funds of $232,000 which reflects the strategic goal. This will leave a deficit of <br />approximately $268,000 to $368,000 before considering any expenditure reductions, use of fund balance or a levy <br />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 2023 budget and are presented for your consideration. <br />Respectfully Submitted, <br />Mark Beer <br />