The fiscal year 2021 budget was adopted over a year ago. Many changes have happened since then, including the Derecho, pandemic, new bonds issued and existing bonds refunded for lower interest, new grants, etc. The budget needs amended before 6/30/21.
There will be no increase in property tax levies due to the proposed budget amendment. Any increase in expenditures will be met from the increased non-property tax revenues and cash balances not originally budgeted. The budget needs to be amended when the budgeted expenditures by function are expected to exceed the amount originally budgeted for that function.
Revenues have increased primarily due to bonds (some refunded, some new), insurance proceeds from Derecho damage claims, federal funds to help with pandemic, new grants/donations, and Local Option Sales Tax. Revenues decreased for fee-related services provided by the City and motel tax.
Expenditures have increased primarily due to the refunding of bonds, Derecho and Covid-19 costs, new costs that are grant/donation funded, insurance premium increases, etc.
For the budget amendment form, go to Public Hearing Notice . The report shows the adopted certified budget set in March of 2020, the change requested for the amendment, and the new amended total.
For the detailed budget documents, go to Budget Comparison . This report shows the year-to-date actual activity July-April, the adopted budget, the proposed amended budget, the dollar change and the % change.
For the updated cash balance report, go to Cash Balances FY20 to FY22 . This shows the actual balance at 6/30/20, the projected net activity for FY21 with the budget amendment, the projected ending balance at 6/30/21, the adopted net activity for FY22, and the projected ending balance at 6/30/22.
For the transfers between funds, go to the Transfers report . This is not new revenues or expenditures; rather, it is just movement from one fund to the other like when you move your personal funds from savings to checking.