Avalon Finance Director Matthew Baker gave the council an overview of the city’s proposed 2023-24 budget at the Tuesday, June 6, council meeting.
He said he drafted the budget document the previous Friday.
Baker said it was still a draft. It will come back to the council for adoption on Tuesday, June 20.
The following are some of the highlights from his presentation.
According to the slide presentation he gave, there is projected draw on the General Fund balance of more than $2.58 million.
Baker provided a breakdown of how he came up with the projected $12.4 million (rounded by the Islander) in revenue.
According to the slide, of that figure, $7 million would come from transient occupancy tax.
“Again, TOT in fiscal year ’22 totaled approximately $8.7 million,” Baker said.
He said the current fiscal year would come in around $7.8 million.
Baker said sales tax is the city’s next-largest source of revenue.
According to the slide presentation, visitor-driven tax revenues account for about 75% of the city’s General Fund income.
Baker said service fees are primarily for ambulance fees and account for more than $450,000. He said the city was on track to exceed $500,000 for charges for fees. According to the slide presentaation, more than 65.4% of the expenditures for salaries and benefits go to wages.
The Fire Department budget of $254,400 includes training and travel, personal protection equipment, gas, and maintenance of the premesis, according to another slide.
Of the Public Works Department’s $312,250 budget for maintenance and operations, 58.7% was for expenditures related to utilities and gasoline, according to the slide presentation.
