Budget 2024

OVERALL HIGHLIGHTS OF THE 2024 BUDGET

• Flat mill levy – The 2024 Budget holds the mill levy flat for the eighth consecutive year.

• General Fund Budget – The 2024 General Fund Budget is $6,526,407 (excluding reserves) which is a 20.60% increase from the 2023 Budget. A substantial amount of this increase is due to a higher budgeted Sales Tax Revenues and a higher budgeted transfer to the CIP Fund.

• Reserves –The City’s total unrestricted reserve is will be $1,157,229 in 2024 and is split between the General Fund and the Equipment Reserve Fund. This, plus the $170,000 Contingency budgeted in the Administration Department, totals 24.03% of the 2024 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 2024 Budget includes a 5% merit based salary increase for full-time employees.

• Health Insurance – Overall, health insurance costs increased by 6-8% with various plan offerings continued.

• 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 $1,273,145 in Priority 1 projects in the Capital Improvement Plan.

Priority 1 projects include:

Street Maintenance – Roe, 61st Terr., 62nd Terr., 59th Terr., 60th Terr., Aberdeen, and 53rd

Public Works Department – Replacement of one truck

Police Department Equipment – Replacement of one patrol vehicle

Administration—Replacement of phone system for City Hall and Police Station, new copy machine 

 

As always, if you have questions about the budget process or any City related matters, do not hesitate to reach out to your elected officials or simply call City Hall (913) 262-0350.