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Fiscal Year 2022-23 General Fund Results
<br />December 19, 2023
<br />Page 3
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<br />FISCAL IMPACT
<br />If the City Council approves the staff recommendation in both staff reports, the remaining
<br />estimated General Fund balance available for one-time spending will be $14,644,472.
<br />Staff expects to prepare recommendations for this one-time funding source for City
<br />Council consideration during the FY 2024-25 budget process.
<br />Staff recommends the following Appropriation Adjustments:
<br />Submitted By: Kathryn Downs, FMSA Executive Director
<br />Approved By: Tom Hatch, Interim City Manager
<br />FY2023-24 General Fund Summary
<br />FY23-24 1st
<br />Quarter Budget
<br />Update
<br />FY22-23 Year-
<br />End
<br />Adjustments
<br />Proposed
<br />D ecember 19
<br />Adjustments
<br />Updated
<br />Estimate
<br />Esti mated Beginning
<br />Balance at July 1, 2023 109,372,864 17,835,714 127,208,578
<br />Revenue Estimate 400,408,670 400,408,670
<br />Appropri ated Spending (413,614,484)(3,250,000)(416,864,484)
<br />Pensi on Trust Set Aside (24,034,731)(24,034,731)
<br />Esti mated Ending
<br />Balance at June 30,
<br />2024 72,132,319 17,835,714 (3,250,000)86,718,033
<br />Less: 18% Reserve 72,073,561 72,073,561
<br />Esti mated Spendable
<br />Balance 58,758 17,835,714 (3,250,000)14,644,472
<br />Fiscal
<br />Year
<br />Accounting Unit
<br />– Account #
<br />Fund
<br />Description
<br />Accounting Unit,
<br />Account
<br />Description
<br />Amount
<br />FY23-24 01105015-62300 General Fund
<br />General Non-
<br />Departmental,
<br />Contract Services
<br />$350,000
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