June 20, 2023
FISCAL YEAR 2024
BUDGET ADOPTION
FY24 Budget Summary
GENERAL FUND:
REVENUES & TRANSFERS IN = $69.8 MILLION
EXPENDITURES & TRANSFERS OUT = $70.8 MILLION
TOTAL ALL FUNDS:
REVENUES & TRANSFERS IN = $135.1 MILLION
EXPENDITURES & TRANSFERS OUT = $140.4 MILLION
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One-Time Enhancements
Item FY24 Decision
Street Signs Replacement $25,000 Yes
Communications Plan $100,000 No
Chamber of Commerce $50,000 Yes
Fund Reserves $430,000 No
Las Palmas Wellness Center & Restrooms $2,700,000 No
Granger Hall Relocation Plan $100,000 No
City Hall Seismic Upgrade $4,000,000 No
Civic Center/Kimball Rec Master Plan $250,000 Yes
Clean NC – Plaza & Harbison $100,000 Yes
PW Quality of Life Overtime $32,000 Yes
Pavement Rehab $500,000 Yes
Storm Drain Rehab $300,000 Yes
TOTAL TO BE IN FY24 BUDGET $1,182,000
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On-Going Enhancements
Item FY24 FY25 FY26 FY27 FY28
4 New Police Staff $498,037 $445,315 $461,353 $477,886 $494,933 3 New Firefighters & 4-0 Staffing $139,313 $513,777 $529,190 $545,066 $561,418 After School Programming $175,000 $196,744 $255,253 $262,911 $270,798 Tree Trimming $92,700 $95,481 $98,345 $101,296 $104,335 Engineering Permit Technician $91,200 $93,936 $96,754 $99,657 $102,646 Amortization $80,000 $50,000 $50,000 $50,000 $50,000
District/Council Budget $330,000 $330,000 $330,000 $330,000 $330,000 Reduce Recreation Fees $1,000 $1,000 $1,000 $1,000 $1,000 TOTAL $1,407,250 $1,726,253 $1,821,895 $1,867,815 $1,915,130 4 |
Council Budget
DIVIDED COUNCIL BUDGET BY SEAT
• Personnel cost for Councilmember + $100,000 new appropriation included • $100,000 split upon existing budget accounts as placeholder
WORK WITH CITY MANAGER & FINANCE TO IDENTIFY NEEDS FOR STAFFING &
PROJECTS
WORK WITH CITY ATTORNEY’S OFFICE TO DRAFT NEW CITY COUNCIL POLICY FOR SPENDING ‘GOVERNMENTAL PURPOSES’ PORTION
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Updated General Fund Forecast
FY2024 FY2025 FY2026 FY2027 FY2028
Total Revenue $69,757,529 $69,294,535 $71,268,892 $74,040,554 $76,702,983 Total Expenditures $70,803,712 $71,179,277 $73,096,266 $74,809,387 $76,783,953 Net $(1,046,184) $(1,884,742) $(1,827,374) $(768,833) $(80,971) Unassigned GF Balance $19,787,710 $17,902,968 $16,075,594 $15,306,761 $15,225,790 10% Threshold $7,080,371 $7,117,928 $7,309,627 $7,480,939 $7,678,395 6 |
Updated
General
Fund
Forecast
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$64
$66
$68
$70
$72
$74
$76
$78
$0
$5
$10
$15
$20
$25
FY2024 FY2025 FY2026 FY2027 FY2028
Revenues & Expenditures (Millions)
Unassigned Fund Balance (Millions)
Projected Revenues, Expenditures, and
Unassigned General Fund Balance
Unassigned GF Balance Total GF Expenditures Total GF Revenue Recommend Adoption
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