AGENDA TITLE:
title
Adopt a Resolution Approving 2023/24 Mid-Year Budget Adjustments; Approving Classifications, Job Descriptions and Salary Ranges for New Health and Safety Specialist, Assistant Electric Utility Director, Electric Utility Technician, Engineering Operational Technology Supervisor, and Engineering Planning and Design Supervisor Positions; and Approving Update to Job Description for Management Analyst (Confidential) (Budget)end
MEETING DATE:
February 21, 2024
PREPARED BY:
Lisa Noffsinger, Budget Manager
RECOMMENDED ACTION:
Adopt a resolution approving 2023/24 mid-year budget adjustments; approving Classifications, Job Descriptions and Salary Ranges for new Health and Safety Specialist, Assistant Electric Utility Director, Electric Utility Technician, Engineering Operational Technology Supervisor, and Engineering Planning and Design Supervisor Positions; and approving update to Job Description for Management Analyst (Confidential).
recommendation
BACKGROUND INFORMATION:
The City Council adopted the Fiscal Year 2023/24 Budget on June 7, 2023. The budget sets the priorities for funding services within the City of Lodi for the fiscal year. A mid-year review of revenue and expenditure projections was conducted and staff presents the following recommended budget adjustments and staffing changes.
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General Fund Revenues
General Fund revenues are coming in under the original projection by $1,561,760 primarily driven by discontinuing collection of the business license tax. The current revenue budget is $80,572,240 with a mid-year revenue projection of $79,010,480. The major category changes in projected revenue are summarized in Table 1 below:
General Fund Expenditures
The overall General Fund expenses are projected to be $1,584,659 lower than the current revised budget of $89,132,469, and is primarily due to staff vacancies. A budget adjustment request of $100,000 is supported by new revenue for downtown maintenance as part ...
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