Clean up fiscal year 2021-22 budget with $27 million surplus
In Plain English
The city ended fiscal year 2022 with a $27 million operating surplus after revenues exceeded projections by 6% and spending came in 10% under budget. The city wants to use $12.8 million of this surplus to fix negative cash balances in various city funds. If approved, remaining surplus funds provide budget flexibility for future city operations.
Auto-generated summary. Source: official agenda documents.
Votes
To approve the item
To approve the transfer to OPEB of $6,102,459, release the committed and assigned fund and move them to the unassigned fund (below the description of the one city council approved) and direct staff to come back to city council with a detailed plan or plans for how the negative funds will be resolved and paid over time
4 to 2
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