Laserfiche WebLink
SUBJECT: 2022 RECOMMENDED BUDGET <br />DATE: SEPTEMBER 14, 2021 PAGE 2 OF 7 <br />Note that this chart assumes expensing 100% of the 2021 budget with no carry -forward <br />into 2022. Possible solutions to the negative reserves include removing/delaying projects <br />or one-time financing transfers from the General Fund. <br />GENERAL FUND ADJUSTMENTS <br />Council requested additional information regarding the long term revenue and <br />expenditure projections, and options to address the projected imbalance. There are <br />numerous approaches that Council could explore, staff can provide additional information <br />on any of the options below. <br />• Revenue adjustments <br />• General Fund transfer adjustments <br />• Adjustment to targets and/or assumptions (see turnback reduction below) <br />• Further consideration of proposed positions, salaries and wages <br />• Reductions to one-time or multi -year operational expenditures <br />• Adjustments to programs and services funded through the General Fund <br />• Ongoing strategic operational adjustments in response to program area KPIs and <br />program/service demands <br />Considering the operating and staffing challenges experienced due to the ongoing <br />impacts of the COVID pandemic, an increase in the turnback assumption would be a <br />reasonable budget adjustment. "Turnback" refers to a positive actual -to -budget variance <br />at year end. Applying a turnback percentage accounts for the recognition that, due to <br />CITY COUNCIL COMMUNICATION <br />