City Budget

The budget process matches estimated revenue with projected expenditures for that year. It also determines the General Fund Property Tax portion of the total City tax levy. The General Fund Property Tax is the primary revenue source of the General Fund. In any year, the total City tax levy also includes amounts in addition to that needed to operate the General Fund.

The 2022–2023 Budget Calendar is based on current statutory requirements.

May 2, 2022

2023-2032 Capital Improvement Program (CIP) workpapers will be given to all departments. Budget workpapers for All Funds (General, Enterprise, Vehicle Maintenance, and Special Revenue) will be given to staff.

June 8, 2022

Staff returns Proposed 2023-2024 budget workpapers and 2023-2032 CIP workpapers to Finance for all funds given out in early May.

July 5–11, 2022

Meetings with City Manager and Department / Division Heads to finalize staff’s Proposed 2023–2024 Budgets.

July 29, 2022

Proposed 2023–2024 Biennial Budget (General, Other Funds) to be distributed to the City Council.

Aug 1–5, 2022

Individual Meetings with Council on General Fund and Levy

Aug 9, 2022

HRA Work Session –Review HRA Budget and levy
Council/Manager Meeting – City Budget review.

Sept 5–9, 2022

Individual Meetings with Council to discuss Other Funds and 2023–2032 CIP.

Sept 13, 2022

Council/Manager Meeting – final budget review before adoption of 2023 proposed levy and budget for the City.

Sept 20, 2022

HRA adopts 2023–2024 proposed budget and 2023 levy. City Council adopts 2023 Proposed Property Tax Levy and sets date for public hearing(s) on 2023-2024 Proposed General Fund Budget and tax levy. The City consents to certify Proposed 2023 HRA Levy and budget.

Mid-Nov, 2022

Proposed Property Tax notices sent by County to all property owners in the City.

Dec 6, 2022

HRA Meeting-The HRA will consider the final 2023-2024 HRA Fund Budget and 2023 tax levy.

City Meeting-City Council will consider the final 2023-24 Biennial Budget and 2023 Tax Levy. City Council will consider consenting to the final 2023 HRA Levy and Budget.

Capital improvements are major purchases and/or construction projects that cannot be financed in one year as part of the regular budgeting process because of their expense. They include:

• street construction and reconstruction
• storm sewers
• water mains
• sanitary sewers
• purchases of large pieces of equipment, such as dump trucks and motor graders

On December 7, 2021, the City Council approved the 2023 to 2034 Capital Improvement Program.

The Capital Improvement Program (CIP) document, which is updated annually and adopted by the City Council each December, schedules these expenditures for the upcoming 10 years. It also includes proposed financing for these expenditures, such as the proceeds of General Obligation Bonds and Enterprise Fund operations.

General Obligation Bonds are a city’s primary means of borrowing money. The bonds are "serial," meaning that various amounts of principal are paid off in each year of the bond term. The term of the bonds varies with the City’s needs and the interest rate varies with market conditions at the time the bond is issued.