City Council Agenda Report
TO: Mayor Clauzel and Members of the City Council
FROM: Ken Irwin, City Manager
BY: Jennifer Riedeman, Finance Director
MEETING DATE: June 27, 2023
ITEM NO: 6.1
SUBJECT: Approve Resolution No. 2023-38 Adopting General Fund and All Other Funds Budgets and Appropriations Limit for the Fiscal Year 2023-24.
RECOMMENDATION
Motion to Approve Resolution No. 2023-38 adopting General Fund and All Other Funds Budgets for the Fiscal Year 2023-24.
BACKGROUND
A Budget Workshop was held on June 13, 2023, at which time the Proposed General Fund and All Other Funds Budget was reviewed with Council. Council was asked to provide staff direction on any requested changes and was informed that the General Fund and All Other Funds budget would be brought back to Council on June 20, 2023. Any modifications to adjust the Proposed General Fund, and All Other Funds Budget FY 2023-24 presented on June 13, 2023 will be approved as a Budget Errata at the time of adoption.
The City has approximately 56 Other Funds in addition to the General Fund and its various departments. Other Funds consists of Enterprise Funds (Water, Sewer, Garbage), Special Revenue Funds - Assessments (Landscape Maintenance Districts, Benefit Assessment Districts, Community Facilities Districts, etc.), Special Revenue Funds (Housing, Streets, Local Transportation Funds, Gas Tax, etc.), and Special Revenue Funds - Impact Fee (Community Facilities, Water, Sewer, Street, Public Safety, etc.).
ANALYSIS
Staff and City Manager have reviewed General Fund and All Other Funds revenue projections and expenditures and are recommending the approval of Resolution No. 2023-38 adopting General Fund and All Other Funds Budgets for the Fiscal Year 2023-24.
FISCAL IMPACT
The expenditure budget requested for approval in the FY2023-24 General Fund and All Other Funds budgets are $126,889,721, including an expense budget of $95,002,195, estimated new amounts for Capital Improvement Projects of $3,533,888 and Transfers Out of $28,353,638.
Approval of Resolution 2023-38 will establish estimated revenues and appropriate expenditures for General Fund and All Other Funds such as Enterprise Funds (Water, Sewer, Garbage), Special Revenue Funds - Assessments (Landscape Maintenance Districts, Benefit Assessment Districts, Community Facilities Districts, etc.), Special Revenue Funds (Housing, Streets, Local Transportation Funds, Gas Tax, etc.), and Special Revenue Funds - Impact Fee (Community Facilities, Water, Sewer, Street, Public Safety, etc.).