Final Adopted Budget FY23-24

General Fund Revenue Highlights

User Fees, Charges, and Licenses Charges for programming and services provided by General Fund departments, such as Parks and Recreation, Field Operations, and Engineering and Inspections are included in this category. The 23-24 budget of $24.8 million is approximately $1.5 million, or 6.4%, more than the current year budget. Commercial solid waste fees increase approximately $800,000 to improve cost recovery and service cost increases. Development services fees increase approximately $70,000 due to increased cost recovery goals. Fire inspections fees are expected to increase approximately $300,000 as the Fire Department continues implementation of improved inspection efforts with increased staffing. Other Revenues Revenues not otherwise defined are included in this category. These include interest income, internal service charges, donations, and sale of assets. These revenues are estimated at $8.9 million, about $300,000 more than the current year budget primarily due to increased interest earnings. Transfers from Other Funds The General Fund receives transfers from Special Revenue Funds, which have been established to account for specific revenue sources received by the City that are typically also tied to specific expenses. The transfer from the State Highway (Powell Bill) Fund is budgeted at $5.6 million to offset a variety of eligible transportation and road maintenance expenses budgeted in the General Fund. The General Fund will also receive a contribution from Transportation Bond Funds in the amount of $720,000 to offset eligible professional services expenditures absorbed in the General Fund. A $300,000 transfer from the Employee Health Insurance Fund is included in FY 23-24 to support adopted compensation increases. Fund Balance The fund balance appropriation for the FY 23-24 General Fund budget is $6.5 million, or 1.6%, of the total budget. This is similar to the amount included in the amended FY 22-23 budget, and represents an increase of $493,000. A key priority of the Council is to improve the General Fund fund balance to meet the Local Government Commission’s requirement of 25% operational fund balance. The total appropriated fund balance amount does not include additional fund balance appropriations that will be necessary to carry forward outstanding purchase orders at the end of FY 22-23.

Adopted 2023-24 Budget

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