City of Polk recently issued the following announcement.
The FY 22.23 budget has total revenue (excluding transfers) of $14,235,339 and total expenditures (excluding transfers) of $14,083,216. The city has $3.8 million in capital projects planned for FY22-23, therefore, the City’s total operating budget is approximately $10.3 million.
Each fund in the city budget is balanced, with the exception of the city’s capital fund. The only reason the capital fund is not balanced is the city will have expenses in FY23, however, the revenue has 1) Already been deposited prior to July 1, 2022, or 2) Will be deposited prior to FY22-23. Therefore, it may appear that we are spending more than we are bringing in for the capital fund, however, the revenue and expenses for the proposed capital projects will occur in different budget years.
To view the budget in brief click here or you can view the certified budget here.
Original source can be found here.
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