9. Staff Report - 2024 Preliminary Budget Staff Report
Date of Meeting: August 2, 2023
For: Honorable Mayor and Council
From: Kyle Morell, City Administrator
Subject: 2024 Preliminary Budget Discussion
Background:
Staff presented the preliminary 2024 budget for Council to review at their July 5 Work Session. The
Capital Investment Committee met twice to review the CIP funds and discuss future projects. Their
recommendations have been included in the CIP fund budgets. The General Fund budget was
prepared using past revenue and expense practices and a six-month review of 2023 spending as
guides for future revenue and expense projections.
Staff prepared a 2024 Preliminary Budget presentation outlining the recommendations of the CIP
Committee, detailed the 2024 revenues and expenses for each CIP fund, and outlined the
assumptions made in assembling the preliminary budget.
Also included are the individual CIP Fund documents and a Summary Budget document that shows
the complete levy picture and the proposed 2024 tax rate.
Discussion:
The CIP Fund documents have not been adjusted since our last meeting. They remain as approved
and recommended by the Capital Investment Committee. The 2024 Preliminary Budget, Budget
Presentation, and Summary Budget have been updated to reflect more accurate 2024 numbers. The
2019 Salary Study document has been included to show how the 2024 wages compare to the study
results. Over half of our employees are at the top of or off the scale. Staff is seeking quotes from our
accounting consulting firm about updating the scale.
Recommendation:
No action is required from Council at this time. The budget has been presented for review and
comment. Council will vote on a 2024 preliminary budget at their September 19, 2023, Regular
Meeting.
Attachments:
2024 Preliminary Budget Presentation
CIP Fund 401
CIP Fund 404
CIP Fund 406
CIP Fund 408
2024 Preliminary Budget
Summary Budget
2019 Salary Study