FY 23-24 Budget
The FY 23.24 budget has total revenue (excluding transfers) of $23,056,856 and total expenditures (excluding transfers) of $27,874,454. The city has $17,046,600 in capital projects and capital equipment purchases planned for FY23-24; therefore, the city’s total operating budget is $10,827,854.
Each fund in the city budget has a positive fund balance, except for the city’s capital fund. The City anticipates constructing several capital projects next year, some of which the city already has the funds on hand to construct. It may appear that the city is spending more than we are bringing in for the capital fund, however, the revenue and expenses for the proposed capital projects may just occur in different fiscal years, creating what appears to be a deficit fund balance. The City does balance the capital fund at the end of each fiscal year and will plan to do that prior to June 30, 2024.
You can view details regarding the FY24 Budget at the links below: