Dunn County Board of Supervisors Proposed 2023 Budget Overview
Overview of the Dunn County Board of Supervisors Proposed 2023 Budget including details on County Levy Limit, Debt, General Fund Balance, Executive Committee's Directive, and Proposed Budget Summary. It discusses the Levy Limit increase and current debt status, General Fund Balance update, management actions taken to decrease the budget deficit, and revenue & expenses breakdown of the proposed budget.
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Dunn County Board of Supervisors Proposed 2023 Budget Department of Administration October 19, 2022
Objectives Overview of County Levy limit and debt Overview of County general fund balance Review of Dunn County s proposed 2023 budget Executive Committee s Directive Proposed Budget summary Executive Committee Recommendation
Levy Limit & Debt Levy Limit: Preliminary levy limit of $23,517,394 is an increase of $1,004,046 from 2022 budget Debt: Outstanding debt as of 12/31/2021 = $32,995,000 General obligation debt is 17.2%of the County s overall debt limit of $191,830,255 Unused debt of $158,835,255 Standard & Poor (S&P) Global Rating: AA/Stable Sources: CLA (2022). Dunn County, Wisconsin Executive Audit Report, December 31,2021 S&P (2022). Dunn County, Wisconsin; General Obligation Rating Report
Dunn County Fund Balance as of December 31,2021 General Fund Balance: $17,223,531 Increase of $4,888,765 from 2020 Percentage of unassigned fund balance to general fund expenditures: 60.6% Recommended by Government Finance Officers Association (GFOA) 25-33% Source: CLA (2022). Dunn County, Wisconsin Executive Audit Report, December 31,2021
Executive Committee Directive Decrease the original proposed 2023 budget deficit of $4,753,063 by $250,000 Management Actions Taken: Eliminated one position request at the Sheriff s Office Eliminated one vacant position in Administration Updated State revenues and operating expenses based on currently available data Analyzed all vacant positions eligible health benefits: Applied enrollment ratios based on current trends: 60% family, 25% single, and 15% will not elect Vacancy ratio from: 2% ($889,178) to 2.82% ($1,252,415). Currently trending at 6% Decreased overall staffing cost by transitioning contracted personnel to County (i.e., Facilities & Transit)
Dunn County Proposed Budget 10/12/2022 Revenue Levy Sales Use Tax Vehicle Registration Fees ARPA State & Federal Allocations Billable Services & Fees Other (i.e., donations, asset sales, forfeitures, interest) 24,345,291 4,972,013 737,200 3,716,522 18,499,322 36,439,961 3,836,444 $92,546,752 Total Expenses Wages & Fringes (includes new position requests) CIP Operations Debt Obligation 44,123,223 3,005,790 40,252,263 5,165,476 $92,546,752 Total
Executive Committee Board Action 2023 proposed budget amount needed to balance $3,233,301 Apply $2,330,847 of fund balance towards increase in salary & fringe and for new position requests Issue debt of $902,454 Impact on the Fund Balance to the proposed budget expenditures is an approximate ratio of 52.55% from 60.6% in 2021 Impact on the General Obligation Debt to Debt Limitation to approximate rate of 17.72%* from 17.20% in 2021
Debt Analysis Issue debt of $1M in 2024
