Budget 2023

The 2023 budget was approved by the Fairway City Council on September 12, 2022.

OVERALL HIGHLIGHTS OF THE 2023 BUDGET

Flat mill levy – The 2023 Budget holds the mill levy flat for the seventh consecutive year.
General Fund Budget – The 2023 General Fund Budget is $5,411,607 which is a 4.41% increase from the 2022 Budget. A substantial amount of this increase is due to a higher budgeted transfer to the CIP Fund.
Reserves –The City’s total unrestricted reserve is will be $1,005,335 in 2023 and is split between the General Fund and the Equipment Reserve Fund. This, plus the $110,000 Contingency budgeted in the Administration Department, totals 23.83% of the 2023 General Fund Budget. In 2018, the City updated its General Fund Reserve guideline from a minimum of 10% to a recommended 20% (excluding the Contingency). Achieving the higher reserve has been a multiyear effort.
Salary increases – The 2023 Budget includes an 8% merit based salary increase for full-time employees.
Health Insurance – Overall, health insurance costs increased by 6-8% with various plan offerings continued. The City increased its contributions from 80% to 85% on July 1, 2022.
Transfer to Equipment Reserve Fund – A $10,000 transfer from the General Fund to the Equipment Reserve Fund is currently budgeted to build a reserve for CIP equipment purchases.

Capital Improvement Fund Budget

There is currently $1,127,123 in Priority 1 projects in the Capital Improvement Plan. Priority 1 projects include:

Street Maintenance – 53rd Street, Sunrise, Lockton, Delmar, Fontana, Fontana Dr., Granada, Granada Ln.

Public Works Department – Replacement of one truck

Police Department Equipment – Replacement of one patrol vehicle

Parks & Recreation—Pool liner repairs, Peterson Park restroom