General Fund

Primary Operating Fund

Fund Description

The General Fund is the City’s primary operating fund. It accounts for all financial resources of the City, except those required to be accounted for in another fund. Revenues accounted for in the General Fund include sales taxes, various user charges, state and county shared revenues and grants, and investment earnings totaling $12.2 million.

The Fund’s expenditure budget for 2022 totals $13.1 million. The 2022 Budget anticipates leaving a reserve of $5.3 million of unrestricted funds at the end of the year in the General Fund, exceeding the City’s Fund Balance Reserve Policy target for minimum level of reserves of 25% of previous year operating expenses.

FY 2022 Budget Changes

Strong sales tax with a slight increase over the 2021 historical high levels
Return to pre-pandemic level for recreation and event fees
Continuation of all existing services
Vandaveer site Master Plan study
Increased emphasis on recreation programming
American Rescue Plan Act funding contingency for affordable housing projects
Significant "contingency" in place for staff pay adjustments if rising cost of living impacts market pay rates
6.5 new employees are added

General Fund - Revenues vs. Expenses

Revenues

Expenses

Fund Balance

General Fund Balance remains very healthy with 2022 unrestricted reserves anticipated to be 65.8% of 2021 operating expenses. A use of fund balance is anticipated for 2022 in order to fund large, one-time needs such as the Vandaveer Master Plan, site and design work for a new art plaza, higher than usual trail and grounds maintenance, firehouse design work and ADA Complaince studies. The operating expenses within the budget are sustainable with annual revenue.

(2021 reserves in this graph are "live" and will continue to change until the year is closed out in about March of 2022.)