FINANCE DEPARTMENT
UPDATE
CITY COUNCIL
FEBRUARY 21, 2022
OBJECTIVES
• An overview of city government finance
• Budget
• Funds
• Revenue
• Expenditures
• Tools to support finance work for the city
• Supplemental Plans
• Upcoming workload
BUDGET
• Most important policy document of any
governmental organization
• Priorities and how to fund them
• Two-year budgeting with mid-cycle updates
• Must be legally balanced
FUNDS
• General Fund: $150.7 M
• Proprietary Funds: $47.8 M
• Enterprise:
• Water Pollution Control Plant, Shoreline
• Internal Service
• Facilities Maintenance, Information Technology, Insurance Services, Equipment Maintenance
• Special Funds: $19.1 M
• Parking, Asset Seizure, Transportation, Grants, Capital Improvement
• Total Funds: $217.6 M Budgeted
General Fund
69%
Proprietary Funds
22%
Special Funds
9%
BUDGETED
EXPENDITURES
GENERAL FUND REVENUE
• Taxes: $120.9 M
• Property Tax: $27.9 M
• Sales Tax: $56.2 M
• Utility Users Tax: $11.5 M
• Other Tax $25.5 M
• Property Transfer, Business License, Franchise, Cannabis • Other $12.6 M
• Licenses & Permits $3.7 M
• Fees $2.6 M
• Planning, Police, Recreation, Library
• Miscellaneous $6.3 M
• Interest, Rent, Intergovernmental, Interfund
Property Tax
23%
Sales Tax
46%
Utility Users Tax
10%
Other Tax
21%
TAXES
Licenses & Permits
29%
Fees
21%
Miscellaneous
50%
OTHER
REVENUE
GENERAL FUND EXPENDITURES
• Ongoing $133.9
• Staffing $64.6 M
• Fire Contract: $27.7 M
• Operating Expenses $14.5 M
• Liabilities $27.1 M
• Debt Service $6.6 M
• Pensions $19.5 M
• Retiree health $1.0 M
• One-Time $16.8
• Capital Needs, Community Projects & One-time Payments Staffing
43%
Fire Contract
18%
Operating Expenses
10%
Liabilities
18%
Capital & Community
Projects
11%
BUDGETED
EXPENDITURES
TOOLS
• Long-Term Forecast
• Evaluate current and future fiscal conditions
• Identify future trends
• Staffing Forecast
• Analyze current staffing cost obligations
• Calculates current and future anticipated expenditures • Pension Forecast
• Reviews current and future obligations
• Provides options for cost mitigation
SUPPLEMENTAL PLANS
• Capital Improvement Plan
• Focuses on assets and their
maintenance/preservation
• Identifies projects and funding to
• Technology Plan
• Reviews all technology needs to provide city
services
• Sets forth a schedule for upgrades/replacement
• Fleet Replacement Plan
• Schedule for replacement
UPCOMING
WORKLOAD
• Budget for FYs 24 & 25
• Identify funding options to support
city services and infrastructure
needs
• Review pension liabilities and
identify strategies to reduce
obligations
• Implement financial planning and
communication tools
QUESTIONS?