The General Fund is used to account for resources traditionally associated with government, which are not required legally or by sound financial management to be accounted for in other funds. It receives greater variety and amount of taxes and other revenues and finances a wider range of governmental activities than any other fund. General government function units included in the General Fund are the following: Administration, Municipal Court, Finance, Human Resources, Mayor and City Council, Police, Fire, Engineering, Development Services, Streets, and Parks and Recreation.
2022-2023 General Fund Financial Plan
As part of the City’s ongoing effort to provide access to information about the City’s financial position, a General Fund Financial Plan or forecast is included on the following page. A forecast tool is used by government entities to show financial trends over time and make revenue and expenditure adjustments as necessary. Financial planning helps ensure that the General Fund’s operating reserve meets the City’s policy target of 25% of operating expenditures. The revenue and expenditure growth assumptions are based on demographic and economic trends in the City and region. Revenues are forecasted to increase 4% on an annualized basis. Expenditures are forecasted to increase between a range of 3% to 3.5%. The forecasted trends show that the General Fund’s operating reserve will hit the 30% of expenditures mark by Fiscal Year 2022-2023.
The negative net change in revenues less expenses reflects using fund balance for the one-time purchase of equipment in the public safety departments of Police and Fire.