HomeMy WebLinkAbout04 17 2023 2022 Work Session Preliminary Year-End Presentation2022
Preliminary
Year-End Report
April 17, 2023
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Agenda
2022 Preliminary Year-End
Funds Highlighted:
General Fund
Other Governmental Funds
Enterprise Funds
General Fund Reserves
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General Fund Summary
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General Fund Revenues
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General Fund Expenditures
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General Fund Reserve
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CFMP Reserve guideline of 40-50% of the next year’s expenditures: At the end of 2022 maintaining an additional 5% in General Fund reserves for unplanned items/resiliency/sustain GF
balance at the upper end of the guideline.
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2022 Other Funds
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Debt Service Funds
Planned payment of debt service in June and December.
Special Revenue Funds:
Cable Fund:
Revenue source is PEG Access Fees
Equipment & service costs for Council meeting live stream capability and Parkview conference room AV equipment replacement.
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2022 Other Funds
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Special Revenue Funds (continued):
Capital Park Fund:
Revenue source is Park Dedication Fees from new development
Planned Expenditures follow the Capital Improvement Program (Summit Ridge Park and TH 13 Trail Gap engineering costs)
Federal ARPA Fiscal Recovery Fund:
Federal Funding received of $2,976,957.
Required ARPA federal reporting, due April 30, will show funds used for the DT South Street Improvement Project.
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2022 Other Funds
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Special Revenue Funds (continued):
EDA Fund:
Added $275k to fund balance
Driver-Expenditures less than budget as the city deferred potential property acquisition to a future year (based on development project timing)
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2022 Other Funds
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Capital Project Funds:
Revolving Equipment Fund – equipment purchases of $847k
Revolving Park Equipment Fund – expenditures of $121k primarily for Lakefront Park master plan, park equipment replacement and painting.
Facilities Management Fund – Expenditures of $552k primarily for Fire Station #1 remodel in preparation of full-time fire staffing.
PIR/Street Overlay Fund – No street overlay project in 2022.
Revenue source:
Primarily property tax
Transfers in from the Utility Funds for equipment and facilities
New gas & electric franchise tax revenue of $1M dedicated to street funding.
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Water Fund
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Sewer Fund
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Stormwater Fund
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Questions
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