2023-2024 Biennial Operating & Capital Budget Supplemental

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OPERATING EXPENDITURE PROJECTIONS The next table summarizes the operational expenditure estimates and targets by major expenditure category for 2023 through 2028. These estimates and targets are incorporated into the 2024 Operating & Capital Budget and 2023-2028 Long -Term Financial Plan. Summary of Expenditure Acfuals, Estimates, and Targets for Major Expenditure Categories Year -Over -Year Percent of Change 2017-2028 Expenditure Category Regional Consumer Price Index Salaries & Wages: Regular Wages Variable & Seasonal Wages Overtime Employee Benefits: Employee Insurance FICA Expense Retirement Contribution All Employee Compensation Supplies: Chemicals Vehicle Maintenance Supplies Street Supplies Uniforms & Clothing Library Books 8 Media All Supplies PurchasedrC°ntracted Services: ProfessionaI Services Utilities Solid Waste Hauling Parts, Repairs, S. Maintenance Legal Services Insurance Premiums S. Deductibles Boulder Dispatch Services All PurchasedKantracted Services Percent of Change 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2020 3.4% 2.7% 1.9% 2_0% 3.5% 7.7% 4.4% 3.5% 3.3% 3.0% 3.0% 3.0% 4.3% 3.0% 10.2% 2.2% 4.67E 9.6% 12.4% 9.7% 3.6% 4.0% 4.0% 4.0% 8.5% 6.0% 22.93'. -32.9% 34.0% 38.3% 22.1% 2.9% 3.9% 3.9% 3.9% 3.9% - 2.D% 21.8% 2.73. 2.0% 4.3% 33.0% -22.3% 5.0% 2.5% 2.5% 2.5% 2.5% 8.2% -1.6% 8.6% 3.2% 5.1% 4.4% 11.1% -2.8% 6.6% 1.1% 10.0% 2.0% 0.0% 6.4% 27.6% 4.6% 7.5% 7.5% 7.5% 7.5°% 7.7% 12.5% 9.7% 9.3% 9.4% 4.0% 4.0% 4.0% 5.6% 28.3% 23.9% 5.6% 6.4% 4.0% 4.0% 4.0% 4.9% 3.1% 11.1% -1.1% 5.7% 13.0% 14.1% 7.8% 4.4% 4.3% 4.3% 4.3% 19.0% 9.5% 1.8°% 5.4% -2.0% - 7.9% 33.2% 17.7% - 1.2% 5.536 41.7% - 4.7% -13_D% - 3.D% 3.9% -4.9% -9.5% 1.1% 9.3% -22.5% 3.5% 9.4% -17.6% -7.8% 0.6% 28.6% 44.2% 22.8"% 1.8% 52.4% 20.0% -6.6% 40.0"I 34.1 % 9.936 6.2% 10.0'% 1.3% 3.6% 1.936 3.5% 3.5% 3_5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 5.59E 5.7% 10.3% -4_2% -2.8% 90.8% -16.7% 8.7% 3.1% 3.2% 3.0% 3.0% 17.1% -2A% 11.1% -4.9% - 3.3% 19.6% 3.3% 6.9% 2_0% 2.2% 1.2% -7_D% - 0.7% 65.5% 6.3% -18.2% 0.8% -20.2% 41.7% -0.5% - 6.2% 2.2% 28.1% 34.3% 0.0% 1.9% 0.8% 1.5% 10.2% 1.8% 3.9% 17.5% 9.5% 12.6% 12.6% 25.8% 16.9 8 -3_D% 1f_3% -13.5% 18.736 2.3% 41.0% -11.2% 6.796 17.7% 28.6°I 22.836 - 13.8% 12.4% 6.4% - 11.136 - 15.9% -4_5% -6.6% 3.5% 4.0% 9.6% 5.0% 7.0% 3.5% 5.3% 4.7% 3.5% 3.5% 4.0% 4.0% -6.536 14.3% 5.036 5.0% 7_0% 7.0% 3.5% 3.5% 4.7% 3.5% 4.0% -6.3% 5.0% 7.0% 3.5% 4.8% 10.0% -5.0% 8.7% 0.6% 38.1% 0% -7_1)% 0.8% 3.2% 5.2% 3.0% Wage & Benefit Projections The 2024 wage and benefit projections were developed by staff using the Tyler-Munis Salary projection tool. These projections are reflected in the 2024 Operating & Capital Budget and are the basis for projecting wages and benefits in the Long -Term Financial Plan for 2023 through 2028. The 2024 wage and benefit projections include merit increases not to exceed 4% and a market adjustment of 2% for all employees. Together, these inclusions account for an approximate $1.1 million increase in the City's employee compensation budget for 2024. These investments help support the City by maintaining an experienced and stable workforce, including the retention and attraction of employees, which is necessary to fulfill the level of service desired by Council and the community. In addition, these investments help reduce the costs and operational impacts of employee turnover. 5