City of Valdez - File #: RES 21-0050

• File #: RES 21-0050
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 11/29/2021
• In control: City Council
• On agenda: 12/7/2021
• Final action: 12/7/2021
• Title: #21-50 - Adopting the 2022 Budget for the City of Valdez and Appropriating Monies for that Budget

Date	Ver.	Action By	Action	Result
12/7/2021	1	City Council	approved	Pass
12/7/2021	1	City Council	amended	Pass
12/7/2021	1	City Council	amended	Pass

ITEM TITLE: 

#21-50 - Adopting the 2022 Budget for the City of Valdez and Appropriating Monies for that Budget

SUBMITTED BY: Jordan Nelson, Budget and Financial Planning Analyst

FISCAL NOTES: 

Expenditure Required: $59,979,048

Unencumbered Balance: $59,979,048

Funding Source: $58,071,451 in estimated new revenues; $1,907,597 from unassigned fund balances

RECOMMENDATION:

Approve Resolution #21-50.

SUMMARY STATEMENT:

•                     This resolution formally adopts the 2022 operating budget

•                     Staff anticipates having a preliminary 2022 budget document posted and distributed by end of December, with final document posted and distributed no later than March 7^th

•                     Next budgeting tasks are to set appropriations for capital projects, carry forward funds from 2021, and cleanup and repurposing of various project and reserve accounts. These items will be discussed in February and March, and formalized via resolution as a revision to the 2022 budget.