2022 06 21 City Council

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FINANCE DEPARTMENT

MEMORANDUM

TO: C. Seth Sumner, City Manager
FROM: Mike Keith, Finance Director
DATE: May 27, 2022

SUBJECT: 2021-2022 Budget Amendment

| respectfully submit the following budget amendment. The local sales tax and youth sports
activities are being increased to cover the expenditure line items. | believe most of the items are
self-explanatory based on the line items, but | will elaborate on a few of these. Overtime in fire
is due to shift coverage when individuals have been off work and fixed assets for fire relates to
the generator carried over from last year and the work on the bay doors. The $50,000 for fixed
assets in recreation relate to the playground equipment damaged at Cook Park. Program
expenses relate to the youth sports. The $50,000 for equipment repair relates to the mini
excavator that had to have a major rebuild. The capital projects transfer relates to the .75% rate
increase dedicated for capital projects.

The Debt Service for city projects is being amended for the debt issued in 2021. When the budget
was prepared for FY22, we did not anticipate the debt being issued as early as it was done. This

did not create any problems as we already had the repayment funded.

Please let me know if you need any additional information regarding this amendment.

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