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Proposed Fiscal Year 2022-23 City Budget, Changes to the City's Basic Classification <br />and Compensation Plan, and the Seven -Year Capital Improvement Program <br />June 7, 2022 <br />Page 7 <br />year budget planning document. On May 23, 2022, The Planning Commission reviewed <br />the entire seven-year document and found it compliant with the City's General Plan. <br />The Year 1 Spending Plan is the proposed FY 2022-23 CIP Budget of $44,947,915. <br />Notable additions to this year's capital budget document are as follows: <br />1. CIP Project Criteria <br />2. Council Ward Map listing CIP Projects by Council Ward <br />3. Process Flow Charts detailing procedures for new projects and existing <br />projects <br />4. Multi -year Project Reports by Category and by Funding Source <br />Exhibit 5 includes the full CIP document. Due to budgeting for multi -year projects, staff <br />expects to request City Council approval this fall to carry over significant unspent CIP <br />appropriations from FY 2021-22 to FY 2022-23. <br />Pension Stabilization Trust <br />At the Early Direction meeting on March 15, 2022, staff provided the City Council with <br />the proposed Pension Debt Strategy for the FY 2022-23 budget to reflect the same <br />budget level as the current year of $54.3 million, with a plan to deposit the pension cost - <br />savings across all funds into the City's Section 115 Pension Trust for future cost <br />stabilization. With City Council's direction, staff will implement the Pension Debt <br />Strategy to deposit $9,506,967 million of pension cost -savings into the City's Section <br />115 Pension Trust. The table below provides a breakdown by fund type. <br />FUND TYPE Deposit Amount <br />General Fund 7/748/811 <br />Other Funds 1,758,156 <br />Total: 9,506,967 <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />City Council 16 — 7 6/15/2022 <br />