HomeMy WebLinkAboutVIII-03 Clarification of 2022 Final Budget MemoCity of Hastings 101 Fourth Street East Hastings, MN 55033-1944 Phone: 651-480-2350
www.hastingsmn.gov
City Council Memorandum
To: Mayor Fasbender & City Councilmembers
From: Chris Eitemiller, Finance Manager
Date: December 20, 2021
Item: Clarification of 2022 Budget Adoption memo
Council Action Requested
Informational only – no action needed
Background Information
On December 6, 2021, the City Council adopted the 2022 budget. While the resolution and departments’
budget details were accurate, there were two errors on the Expense summary table included in the
introductory memo. These errors were only contained in the memo, and no changes are needed to the
budget, but in the interest of transparency, staff wishes to bring this to the City Council’s attention.
The totals for Public Works’ Governmental and Proprietary Funds’ spending were transposed. The $2.6
million figure reflects Governmental Fund spending, while the Proprietary Fund column should have
contained $7.9 million.
In addition, the Proprietary fund total spending figure of $7.9 million included debt service of $648,950.
The accurate allocation is $7.3 million for operations and $648,950 of debt service for a total of $7.9
million spending for Public Works’ Proprietary funds. The net result of these changes is a reduction of
$648,950 from the spending total shown in the December 6, 2021 memo. The correct total is $42,284,068.
Financial Impact
There is no change to the 2022 budget that was adopted on December 6, 2021.
Governmental
Operating
Funds
Proprietary
Funds Infrastructure Total - City
General Government 7,464,523 1,887,971 - 9,352,494
Public Safety 11,255,985 11,255,985
Public Works 2,639,285 7,331,696 4,203,000 14,173,981
Culture and Recreation 3,684,199 - 3,684,199
Debt Service 3,368,459 648,950 - 4,017,409
28,412,451 9,868,617 4,203,000 42,484,068
2022 Recommended Expense Budget - City Funds
VIII-03