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City Council Regular Meeting Minutes <br />September 12, 2023 <br />Page 2 <br />Mayor Stille opened the public hearing at 7:02 p.m.. <br />4 Finance Director Deborah Maloney reviewed the Budget Calendar and noted at the August 22, <br />5 2023 City Council Meeting, Staff presented the proposed 2024 General Fund Operating Budget <br />6 and the 2023 Overall Levy. Staff has affirmed the proposed 2024 overall levy is $9,191,133 <br />7 which represents an increase of $503,708 or a 5.80% increase compared to the 2023 overall levy. <br />O <br />9 The standard parameters used for preparing the General Fund Budget and Levy include: <br />10 • City revenues budgeted at current run rates for sources that are subject to trends and <br />11 conservative baseline estimates for re -occurring aids and charges for services. <br />12 . Expenses budgeted at amounts that will maintain the present level of City services. <br />13 • Liquor transfers to the General Fund based on liquor operating results. <br />14 <br />15 Ms. Maloney provided the General Fund Budget and Levy details including General Fund <br />16 Expenditures and General Fund Revenues. Updates from the 8/22/2023 Budget Presentation <br />17 were provided. The overall levy by fund type includes General/HRA 67%; Debt Service 21 %; <br />18 and Capital & Building Improvements 12%. Charts showing the 2024 General Fund Revenues <br />19 and General Fund Expenditures. <br />20 <br />21 Charts showing 2024 Proposed Levies and Impact of Debt Levy Relief were displayed. The <br />22 Summary of 2024 Budget includes: <br />23 • General Fund operating budget totals $9,386,736 supported by a property tax levy of <br />24 $5,938,338. <br />25 • Personnel costs represent 70.0% of General Fund expenditures. <br />26 o Personnel costs up $353,945 or 5.71%. <br />27 o Wages and benefits for $260,355 additional for Public Safety positions <br />28 o Health insurance costs up $28,909. <br />29 • Other Insurance expenditures up $114,862. <br />30 • Contracted services up $66,615. <br />31 • Capital Funds levies increased by $45,000. <br />32 • Increase in all levies totals $503,708 or 5.80%. <br />33 <br />34 The 2024 Budget Cost Drivers include: <br />35 • Personnel costs: 70.0% of expenditures, overall costs up $353,945 or 5.71 %. <br />36 • Contracted services: 10.4% of expenditures, overall costs up $66,615. <br />37 • Other Insurance costs: 5.9% of expenditures, overall costs up by $114,862. <br />38 <br />39 The upcoming budget meetings will be: <br />40 <br />41 October 10, 2023 Council work session, Staff will present the proposed 2024 updates to the <br />42 long-term capital budget plans. <br />43 <br />44 October 24, 2023 Council work session, Staff will present the proposed 2024 utility rate <br />45 adjustments and budgets. <br />46 <br />