Attached is the working budget document for the General, Aquatics and Community Center Funds. These are the operating funds for the City reflecting the personnel costs for the City.

The attached line-item budget document starts with the 100 General Fund and ends with the 290 Community Center Fund (from smallest to largest fund number). Notes at the bottom of each fund page provide insight to unique elements or changes.

Reading from left to right you will see the account number, account title, 2021-2023 Actual, 2024 Projected Budget (the revised budget for 2024), 2025 Budget (proposed), 2026 Budget (estimate) and 2027 Budget (estimate).

Cells highlighted in Light Blue indicate accounts containing amounts in support of Objectives or remind staff of a point we want to make about that entry. Green cells indicate staff has confirmed updates to these figures. Red cells indicate a new line item has been added or we know that a change needs to be made to this figure. Yellow cells reflect numbers that are still tentative.  

The General Fund (100) is the first fund.  Beginning Fund Balance is shown as the first revenue line.  Revenues are shown at the beginning (top) of each fund sheet, subtotals are shown for each major segment of revenue.  Expenses follow revenues, these are separated into expense types (Personnel, Contractual Services, Commodities, Capital, Debt Service, Transfers).  At the end of each fund is the Ending Fund Balance line.  As we review each fund we will highlight the estimated ending fund balances and provide an explanation for changes in the ending balance.

Please make notes as you review. We recognize that this document will not answer all questions and staff will stand ready to address questions.  We have developed the document in excel and staff has included comments in cells to serve as a detailed reference.

Because the City uses General Fund resources to pay for capital, the mill levy is a key component to being able to fund capital on a pay as you go approach.  The .50 mill reduction preliminarily reflected will not cause delay in completing the projects reflected in the CIP as presented. 

The capital equipment items planned for and reflected in the CIP for years 2024 through 2027 are reflected in the transfer out line item of the appropriate department. Funds  are transferred to the Equipment and Building Reserve Fund and the purchase is made out of that fund. As noted during the review of the capital funds at the prior workshop balances within our capital funds fluctuate due to fluctuation in the cost of projects but those ending fund balances remain positive. 

Also attached for reference are the Preliminary Objectives, the appropriate line item (cell is highlighted in Light Blue) has the budget impact of each objective reflected.

Revenues have been estimated conservatively (we expect they will be higher than budget).  Expenses continue to be refined to be closer to our actual history, but again conservative (we expect they will be lower than budget).

The ending fund balance for each of our funds remains positive through the 2027 estimates.  In addition, the ending fund balance benchmarks are being met through 2027.  The 2024 Projected Budget reflects current revenue and expense conditions that are now known vs what we estimated a year ago when the 2024 budget was developed.