By the Numbers: The City's Budget is final and published.
What a process! This was my first year on the Budget Committee. We held 10 meetings starting March 14 and ending June 7. We presented the proposed budget to the City Council over the course of two City Council meetings, on June 21 and July 5. The budget was approved at the July 5, 2022 meeting. The entire process was open to the public. We did a deep dive into every department, worked with all staff to reduce expenditures wherever we could, without cutting deeply into the quality of services. It was not an easy process, but worth the time and attention it took. In the end we approved a deficit budget. Projected revenue is $11,266,560. Projected expenditures are $12,521,487. Projected deficit: $1,152,247. And yes, I sure wish we could have had a balanced budget, but the good news is that for many years this City built up a substantial reserve fund. We are now dipping into that reserve to make sure our services to this community meet the standards the community has set. We are still suffering the consequences of Covid...and we need to shore up our town and do what's necessary for a bright future. The really good news is that with the strong reserves the City built up in prior years, even with this projected deficit we will still have over $2,000,000 (16.5%) in reserves, meeting our established 15% reserve policy. Good financial planning for the unexpected has placed us in an excellent position to make it through what are still incredibly difficult times.Documents and Details:
The Budget Committee consisted of Vice Mayor Hinton, Councilmember Rich, plus City Staff: City Manager Larry McLaughlin, Asst City Manager Mary Gourley, and Administrative Services Director Ana Kwong.
The Budget Committee held 10 meetings: March 14, April 4, April 7, April 25, May 5, May 9, May 11, May 16, May 23, and June 7, 2022. All were open to the public. The two City Council meetings on June 21 and July 5 were in addition to these Budget Committee meetings.