The 2023 Year-end financials are included in the December Financial Report. Click Here

The following is a summary of the 2023 Financial Review:

• 2023 income tax revenue ended the year 5%, or $230,000, higher than 2022. This increase is mostly due to Ardagh income tax and new income tax at Sawmill Creek Resort.
• The City's unencumbered General Fund balance at the end of 2023 was over $1.8 million, or 27% of annual expenditures.
• Due to the General Fund expected to be over the 25% reserve policy, the City made year cash transfer to the capital improvement fund to reserve for projects in 2023 and cash transfers to payroll stabilization funds to prepare for future retirements.
• Most major revenue sources among major City funds were consistent with 2022 actuals at the end of 2023, including lodging tax, state taxes, and Fire Department Revenue. Interest earnings exceeded revenue expectations by over $200,000.

The 2024 Financial Update is included in the January Financial Report. Click Here

Summary of Debt Obligations

Will update Committee during meeting on budget recommendations made by the Committee to Council for the 2024 budget.