FINAL ADOPTED BUDGET FY2022-23

DEBT SERVICE CONTRIBUTION

Voter-Approved Bonds: General Fund annual contribution to support principal and interest payments related to Voter-Approved Bonds.

Actual 2020-21

Budget 2021-22

Adopted 2022-23

Projected

2023-24

Expenditures by Program Voter-Approved Bonds

40,104,000 40,104,000

24,790,423 24,790,423

26,391,689 26,391,689

40,104,000 40,104,000

Total

Actual 2020-21

Budget 2021-22

Adopted 2022-23

Projected 2023-24

Expenditures by Type Maintenance & Operations

40,104,000 40,104,000

24,790,423 24,790,423

26,391,689 26,391,689

40,104,000 40,104,000

Total

40,104,000 40,104,000

General Fund Contribution

24,790,423 24,790,423

26,391,689 26,391,689

40,104,000 40,104,000

Total

Budget Highlights: The FY 22-23 Adopted Budget is increasing by 13,712,311, or 52.0%.  The budgeted contribution to the Debt Service Fund will increase from $24.8 million to $27.7 million. This increase is necessary due to the reduction from the prior year to address the revenues shortfalls due to COVID-19.  The outstanding debt principle will decrease by approximately $27 million by the close of FY 20-21 based on planned payments and no new debt issuances. In FY 22-23 the City expects to issue the remaining $36 million in remaining 2016 authorized bonds.

Adopted 2022-23 Budget

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