Page 74 - FY 24 Budget Forecast at Adoption.xlsx

Information Technology Fund

FY 2023-24 Revenues $2,680,186
Compared to $ Growth % Growth
FY 2022-23 Budget $(43,558) (1.6) %
FY 2022-23 Projection $(43,558) (1.6) %

FY 2023-24 Expenditures $3,119,404
Compared to $ Growth % Growth
FY 2022-23 Budget $12,558 0.4 %
FY 2022-23 Projection $464,391 17.5 %

Revenues – Expenditures $ (439,218)

The Information Technology Fund accounts for citywide information services/information technology
operations and is an Internal Service Fund. It is supported by transfers from departments within other
operating funds based upon a ratio of computer equipment and actual costs of specialized software or
equipment. The expenditures vary annually based upon the computer and technology replacement
schedule. For FY 2022-23, the expenditures for Community Development software for $500,000 of which
$370,000 was one-time for implementation. FY 2023-24 carries over $270,000 as the city continues the
implementation process.

Self-Insurance Fund

FY 2023-24 Revenues $4,707,586
Compared to $ Growth % Growth
FY 2022-23 Budget $(607,925) (11.4) %
FY 2022-23 Projection $301,492 6.8 %

FY 2023-24 Expenditures $4,640,578
Compared to $ Growth % Growth
FY 2022-23 Budget $52,933 1.2%
FY 2022-23 Projection $643,592 16.1%

Revenues – Expenditures $ 67,008

The Self Insurance Fund is an Internal Service Fund that uses revenues to pay for premiums for city
employees and expenditures are used for claims and claims administration. This is the third year the fund
is in use to pay for employee health coverage. Prior to FY 2021-22, the fund received salary savings to
create a starting fund balance of $4,647,326, or the equivalent of a year of health insurance. The fund
gives the city greater control over healthcare costs, and allows the money dedicated to healthcare to stay
in the city’s budget rather than being paid to a health insurance company. Through May 23 the fund had
saved the city $826,000 on claims which is reflected in the projections.

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