Last Friday, the City published the draft budget for the fiscal year 2022. You can get see it here on City’s website: Based on the latest projections, it is anticipated that revenues will exceed expenditures by $1.54 million at the end of FY2021. With all the impacts from the COVID pandemic, this is very good news considering the significant reductions that have occurred in certain revenue.
The projected surplus would increase unassigned fund balance of the General Fund to $9.46 million as of June 30, 2021, representing 53% of FY2022 proposed expenditures—well above the City target of 25%. In the proposed FY 2020 budget, Certain revenues are still reduced due to ongoing effects of the COVID pandemic.
Staff is recommending to limit budget expenditures to prior-year levels or minimal, inflationary increases and seek expenditure reductions where possible.
The Mayor and Council have a day-long budget worksession scheduled for Saturday, March 27, 2021 to review and discuss the Proposed Budget with the City Manager and directors.
A budget ordinance is introduced at a regular meeting of the City Council in April and a public hearing on that ordinance is held in May. The City Charter requires that a budget ordinance be adopted by May 31.