Item 16 - Proposed Fiscal Year 2022-23 City Budget

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