EPS Operating Budget

Operating Budget Highlights

OPERATING BUDGET FUNDING 2023

2023 Tax-supported Operating Expenditure Budget

2023 EXPENDITURES

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FUNDING FORMULA UPDATE IN 2023

On August 23, 2023, City Council approved the revised EPS Funding Formula and final budget allocation for 2024-2026 was made during the Fall Supplemental Operating Budget Adjustment process.

CHALLENGES IN CAPITAL BUDGET IN 2023 AND 2024

The 2023-2026 Capital Budget is comprised of 10 active profiles (4 standalone profiles and 6 composite profiles). The total 2023-2026 Capital Budget is $89.108 million which includes the initial approved budget, 2019-2022 budget carryforward, 2023 Spring and Fall Supplemental Capital Budget Adjustments (SCBA), and Year-end Administrative Adjustments.

In December 2022, City Council approved approximately 25% of the Commission supported budget requirement for Police Equipment, Radio Lifecycle, IT Applications and IT Infrastructure renewal projects for 2023-2026. In December 2023, during the 2023 Fall SCBA, City Council approved the City Administration 2024 funding recommendation of $10.610 million for a portion of the unfunded renewal profiles. This results in 41% of the Commission supported budget requirement for Police Equipment, Radio Lifecycle, IT Applications and IT Infrastructure renewal projects for 2023-2026 and a $40.489 million shortfall.