Third Draft Budget FY 2021/2022

[David Jennings]

Click here to view the General Fund Budget third draft.

Click here to view the Utility Fund Budget third draft.

I went through it and cut pretty hard but we are still $18k in the hole. All changes are noted with (3) in the Notes column.

If you scroll to page 11, you’ll see I added an overview page that is helpful to me. Due to your diligence the past few years, we are spending less than we did in 2015, which is pretty remarkable. And as Mayor Pro-Tem McKown said in our last meeting, the city seems to be in better shape than it has in a long time. Good work.

But you have more to do. You have three choices to balance the draft budget I provided, with input from Troy. Of course, you can make your own budget and present it to us. Your three choices for my proposed budget would be:

A. Find $18k to cut.

B. Raise the tax rate above the No New Revenue rate. Every $0.01 added to the tax rate increases revenue by $13k. You would need to raise the rate by $0.0136, which is a 1.63% increase.

C. Use the reserves to cover the deficit. Page 11 also contains the information on our reserves.

There is a fourth option, which would be to use some combination of all of the above.

[David Jennings]

After our meeting last night I found an error in a key formula. Basically, in one of the cells, the Police Capital Expenditures was not included in one of the sum totals. That increases the deficit by $52,000.

Click here to view the corrected version of the General Fund Draft Budget 3.

Click here to view the corrected version of the Utility Fund Draft Budget 3.

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