CC PACKET 09132022 - Laserfiche WebLink

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• Liability, Property and Casualty premiums are projected decline by $6,595 in 2023. • Pass through costs – 2.3% of expenditures, costs up $19,019. • The substantial portion of the increase represents an $14,526 increase in the rent transfer to the City Hall/Community Center Fund. • Remaining budget line items – 12.2% of overall expenditures or $1,066,602, costs are up $85,327. Energy costs make up $47,892 of this increase. Then anticipated inflationary factors of 5% to 6% have been applied to many of the supplies and services purchases. • Costs include repairs and maintenance, utilities, fuels, training, supplies, communications, sustainability programing, road maintenance, printing and publications etc. General Fund Revenues: • Liquor transfer to the General Fund will increase from $250,000 to $275,000 in 2023. • 2023 State funded Local Government Aid reflects an increase of $12,321, less than originally anticipated. • Police contracted services has increased by $58,027. • Excess Tax Increment collections are projected to increase by $104,780 in 2023, more than originally anticipated. • Federal Grants reflects $172,039 of potential SAFER grant proceeds to be used for hiring two additional firefighters. The 2023 HRA Budget and Levy is proposed at the same amount as 2022, 0% Levy increase. The 2023 Debt Related Levies are proposed to increase by $0 over the 2022 combined debt levies. The last step of the Peak to Plateau debt plan was the bonding of the 2022 street improvement. The second phase of the program continues to stabilize the street improvement program’s impact on the annual levy, while also reducing the reliance on debt to fund construction costs. In the Phase II Street Improvements and related bonding will be skipped in 2023 and resumed in 2024. The goal associated with Phase II is a modified pace of improvements to reduce reliance on bond financing and transition to levy support for construction cost. Again, the debt levy for 2023 will not increase, which will be the fourth year in a row of a flat levy. The combined program phases have served to lower annual levy impact of street reconstruction by $3,166,000 over the last 9 years. The 2023 Capital Improvement Program (CIP) levy is proposed to increase by $30,000. The 2023 Building Improvement, Infrastructure and Park Improvement levies are each proposed at a $5,000 increase. These levy increases are consistent with the city’s long-term capital improvement plans.