AGENDA CAPTION:
Title
Receive a Staff presentation and hold discussion regarding the Fiscal Year 2022-2023 Fiscal Year Proposed Budget, and Fiscal Year 2022-2023 Capital Improvements Program and provide direction to Staff.
Body
Meeting date: August 18, 2022
Department: Finance
Amount & Source of Funding
Funds Required: N/A
Account Number: Click or tap here to enter text.
Funds Available: Click or tap here to enter text.
Account Name: Click or tap here to enter text.
Fiscal Note:
Prior Council Action: Click or tap here to enter text.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Choose an item.
Choose an item.
Choose an item.
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☐ Economic Development - Choose an item.
☐ Environment & Resource Protection - Choose an item.
☐ Land Use - Choose an item.
☐ Neighborhoods & Housing - Choose an item.
☐ Parks, Public Spaces & Facilities - Choose an item.
☐ Transportation - Choose an item.
☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Choose an item.
Background Information:
Attached is the budget presentation that will be presented at the August 18th workshop as well as supporting documents.
The budget process begins in the spring with formation of the Budget Policy Statement. Budget workshops were held on May 17th and June 29th to discuss current economic conditions, review financial estimates for FY22 and consider preliminary assumptions for FY23 budget preparation. A recovering economy, a challenging hiring market, supply chain disruptions, and inflation have been a recurring theme throughout. The Proposed Budget was developed keeping those things in mind, as well as fiscal responsibility to the taxpayers. This proposed budget reduces the tax rate by 1¢ to 59.30¢ per $100 valuation.
In addition to the Proposed Budget and presentation, we’ve included supporting documentation for the requests we’ve received for funding from outside organizations. We will be seeking Council direction on these requests.
Additionally, the unsigned CUAB letter outlining their recommendation for no rate increases for Water/Wastewater and Electric this year.
A copy of the Proposed Budget is filed with the City Clerk prior to adoption and a copy is provided to the Library for public inspection.
Public hearings and further discussions are held in September and changes can be made to the budget until the adoption on September 20th.
Council Committee, Board/Commission Action:
Click or tap here to enter text.
Alternatives:
Click or tap here to enter text.
Recommendation:
Click or tap here to enter text.