Budget Ordinance 2023.pdf

The City of Indian Hills has adopted an annual budget for the fiscal year 2023-2024, which begins on July 1, 2023, and ends on June 30, 2024. The budget estimates revenues and resources and appropriates funds for the operation of the city government.

The General Fund has resources available, including a fund balance carried forward of $1,855,000, American Rescue Plan Act funds of $545,000, and estimated revenues of $1,587,500. The total resources available for appropriation are $3,987,500.

The estimated appropriations for the General Fund include $925,086 for police protection, $281,834 for waste removal, $300,000 for parks and environment, and $275,000 for infrastructure, among others. The total estimated appropriations are $1,820,620.

The Road Fund has resources available, including a fund balance carried forward of $15,000 and estimated revenues of $58,000. The total resources available for appropriation are $73,000. The estimated appropriations for the Road Fund include $6,000 for road repairs and maintenance, and $10,000 for street signs, among others. The total estimated appropriations are $371,000, resulting in a deficit of $298,000.

The budget anticipates an excess of resources over appropriations of $2,166,880 for the General Fund and a deficit of $298,000 for the Road Fund. The city plans to transfer $313,000 between funds to balance the budget. The estimated fund balances at the end of the fiscal year are $1,853,880 for the General Fund and $15,000 for the Road Fund.

The ordinance was introduced by Councilor Laura Dunbar and passed with a unanimous vote by the city council on June 21, 2023. The ordinance takes effect from and after passage, approval, and publication as required by law.