provided by the Sanibel City Manager’s Office
Budget highlights from the Tuesday, Aug. 16 Sanibel City Council meeting:
Council received the Fiscal Year 2021 Annual Comprehensive Financial Report (ACFR), prepared by the auditing firm CliftonLarsonAllen, LLP. The audit provided no findings for the fiscal year, underscoring the excellent financial services and oversight of all city funds. Financial highlights of the audit include: the city’s total net position increased by $4.0 million, and the city’s ongoing obligations decreased by $1.4 million. View the City’s FY21 ACFR.
FY 2022 Budget Amendments – Based on the completed Fiscal Year 2021 Annual Comprehensive Financial Report (ACFR), the City Council approved Resolution 22-037 to decrease the Fiscal Year 2021 ending fund balances and the Fiscal Year 2022 beginning fund balances/budget by $585,969 in accordance with the ACFR.
By approving Resolution 22-040, the City Council increased the estimated Fiscal Year 2021 ending fund balances and the Fiscal Year 2022 beginning fund balances/budget by $259,094 based on the Indirect Cost Recovery Plan completed by Maguire Associates. This action reimburses the city’s General Fund for overhead costs that are allocated to other funds following the reconciliation completed in the Maguire Associates study.
The net effect of both resolutions decreases the Fiscal Year 2021 ending fund balances and the Fiscal Year 2022 beginning fund balances/budget by $326,875.
The adjusted balances will affect the estimated beginning fund balances for the Fiscal Year 2022-2023 budget. The City Council has scheduled a workshop to discuss the proposed FY23 budget at 5:30 p.m. Aug. 30, at City Hall.
Solid Waste Collection Assessment – The City Council approved Resolution 22-033 with respect to the annual special service assessment to fund the collection and disposal of solid waste, recyclables, and horticultural waste services for Fiscal Year 2023. Further, the City Council, sitting as the Equalization Board, approved Resolution 22-034 to ratify adjusted and equalized assessments. The change in collection rates, summarized below, are required to fund the contractual agreement with the City’s waste collection contract WM and Lee County’s increase in disposal rates.
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