Council to Vote On 2023 Budget
A copy of the proposed budget is available for public inspection at the Maryland Heights Government Center and on the City's website at www.marylandheights.com/Budget until its scheduled adoption by City Council on December 15.
Total 2023 budgeted revenues for all governmental funds is $39.9 million, an increase of $1.5 million (4%) from the estimate for 2022. $1.2 million (79%) of the increase relates an anticipated increase in sales and gaming tax revenue. The budget plan includes use of $2.2 million of federal assistance related to the American Rescue Plan Act.
Total expenditures, all funds, in 2023 will be approximately $45 million, an increase of $5.9 million from the estimated $39 million in 2022. $3.5 million of the increase relates to expenditures for Capital Projects. The remaining 1.8 million will be offset by the ARPA Funds and transferred to the General Fund for residential trash hauling expenses.
General Fund expenditures are up $2.4 million (10%) in 2023. $1.6 million of the increase relates to higher personnel costs. The 2023 Budget was prepared with a 5% market adjustment for all full-time employees. Other operational increases are anticipated as certain expenditures, such as travel for professional training, were limited in 2021 and 2022 as a reaction to the economic impacts of COVID-19.
Capital Improvement Fund expenditures are expected to increase $3 million (38%) related to various road, equipment, and stormwater projects that were delayed or slow to start due to the effects of the pandemic. Park Fund expenditures are projected to be $780 thousand, 16% higher in 2023 than 2022. Expenditures will rise $4.9 million from 2022 to $5.7 million in 2023. The majority of the increase in the Park Fund relates to higher operational costs due to the expected higher demand for recreation and facility use in 2023 and an increase in personnel costs due to the 5% market adjustment.
At the end of 2023, the City’s Reserve Fund will be approximately $29 million, equal to 110% of 2023 General Fund expenditures; the City’s goal is to maintain a level of 75%. The Capital Improvement Fund will decrease $3.5 million as planned project expenditures are expected to exceed gaming tax and grant funding. All budgetary funds will total $35.5 million at the end of the year of which $3 million is restricted to tax increment financing activities.
A public hearing is scheduled for Thursday, December 1 at 6:45 p.m. at the Maryland Heights Government Center.
Total 2023 budgeted revenues for all governmental funds is $39.9 million, an increase of $1.5 million (4%) from the estimate for 2022. $1.2 million (79%) of the increase relates an anticipated increase in sales and gaming tax revenue. The budget plan includes use of $2.2 million of federal assistance related to the American Rescue Plan Act.
Total expenditures, all funds, in 2023 will be approximately $45 million, an increase of $5.9 million from the estimated $39 million in 2022. $3.5 million of the increase relates to expenditures for Capital Projects. The remaining 1.8 million will be offset by the ARPA Funds and transferred to the General Fund for residential trash hauling expenses.
General Fund expenditures are up $2.4 million (10%) in 2023. $1.6 million of the increase relates to higher personnel costs. The 2023 Budget was prepared with a 5% market adjustment for all full-time employees. Other operational increases are anticipated as certain expenditures, such as travel for professional training, were limited in 2021 and 2022 as a reaction to the economic impacts of COVID-19.
Capital Improvement Fund expenditures are expected to increase $3 million (38%) related to various road, equipment, and stormwater projects that were delayed or slow to start due to the effects of the pandemic. Park Fund expenditures are projected to be $780 thousand, 16% higher in 2023 than 2022. Expenditures will rise $4.9 million from 2022 to $5.7 million in 2023. The majority of the increase in the Park Fund relates to higher operational costs due to the expected higher demand for recreation and facility use in 2023 and an increase in personnel costs due to the 5% market adjustment.
At the end of 2023, the City’s Reserve Fund will be approximately $29 million, equal to 110% of 2023 General Fund expenditures; the City’s goal is to maintain a level of 75%. The Capital Improvement Fund will decrease $3.5 million as planned project expenditures are expected to exceed gaming tax and grant funding. All budgetary funds will total $35.5 million at the end of the year of which $3 million is restricted to tax increment financing activities.
A public hearing is scheduled for Thursday, December 1 at 6:45 p.m. at the Maryland Heights Government Center.