2022 Budget Information
FINAL 2022 BUDGET, TAX LEVY APPROVED BY CITY COUNCIL
On December 6th, the City Council adopted the 2022 General Fund Budget and Tax Levy. The General Fund pays for basic government services like Police, Fire, Street Maintenance, Building Inspections, and Zoning. The General Fund expenditure budget is increasing by $715,096 (7.7%). This increase is being partially funded by non-tax revenue sources and requires an increase of $334,156 (5.1%) in the General Fund tax levy.
The property tax levy has five components. The first is the operating levy, which is adopted to fund the General Fund Operating Budget. The second part is the Pavement Management Levy that is needed to fund the City’s pavement maintenance plan. The increase includes an additional $150,000 for the road maintenance and reconstruction; reflecting the Council’s desire to establish a long term funding solution for the City’s road infrastructure. The third and fourth part of the levy, added this this year includes funding towards the Building Fund and re-established Parks Fund, of $375,000 for development, improvements and repairs for buildings and $50,000 for parks, respectively The final levy component is for the debt service of the City’s outstanding bonds.
The approved 2022 Tax Levy is $6,944,766, an increase of $334,156 (5.1%) over the 2021 tax levy. The tax rate is projected to stay flat at 16.78%.
2023 BUDGET INFORMATION
Preliminary 2023 Budget and Tax Levy
Staff is currently working with the newly established budget committee on the 2023 Preliminary Budget and Tax Levy. The preliminary budget and levy will be adopted on September 26th at the regularly scheduled council meeting. The final budget and levy will be adopted on 12th after the Truth-in-Taxation meeting that begins a 6:30pm.