Laserfiche WebLink
<br /> <br /> M E M O R A N D U M <br /> <br /> <br />DATE: September 12, 2023 <br /> <br />TO: Mayor Stille, City Council Members, City Manager Yunker <br /> <br />FROM: Deborah Maloney, Finance Director <br /> <br />ITEM: 2024 Preliminary Levy / General Fund Budget <br /> <br /> <br /> <br /> <br />At the August 22nd City council meeting, the city staff presented the proposed 2024 general fund <br />operating budget and the 2023 overall levy. <br /> <br />Staff has affirmed the proposed 2024 overall levy is $9,191,133, which represents an increase of <br />$503,708 or a 5.80% increase compared to the 2023 overall levy. <br /> <br /> <br /> <br />The standard parameters used for preparing the General Fund Budget and Levy include: <br /> <br />• City revenues budgeted at current run rates for sources that are subject to trends and <br />conservative baseline estimates for re-occurring aids and charges for services. <br />• Expenses budgeted at amounts that will maintain present level of City services. <br />• Liquor transfers to the General Fund based on liquor operating results. <br /> <br /> <br />The General Fund Budget and Levy details: <br /> <br />Each year the General Fund revenue and expenditure budget line items are examined for <br />changes in expected collections/charges, labor adjustments, changes in contract rates, <br />insurance rates, utility costs, usage of various materials or needs, etc. The findings of this <br />examination produce the drivers associated with the proposed 5.80% increase in the Overall <br />Levy - see below: <br /> <br /> <br />19