HomeMy Public PortalAbout2022_03_22_M061 - Motion to Adopt the Fiscal Year 2023 BudgetCouncil Meeting March 22, 2022
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MOTION 2022-061
Motion to approve Ordinance 2022-O-011 – Adopting the Budget for Fiscal Year
2023; Making Appropriations for Fiscal Year 2023 for the General Fund, Utilities
Fund, and Capital Projects Fund; Establishing a Cost-of-Living Adjustment for
Mayor and Town Council Compensation Equal to the Cost-of-Living Adjustment for
Employees; Establishing a Capital Reserve in the amount of $2 Million from Fiscal
Year 2021 Unassigned Fund Balance; Amending Council Approved Fiscal Policy to
Exclude Revenue Generating Airport Projects from the 15% General Fund
Expenditures Debt Limit; Authorizing Amendments to the Budget and Supplemental
Appropriations by Council Resolution; and Authorizing and Directing the Town
Manager to Take All Steps Necessary and Prudent to Effectuate the Implementation
of the Ordinance.