Rocklin Adopts Balanced FY 2022-2023 Budget
The Rocklin City Council adopted a balanced Fiscal Year 2022-2023 budget on Tuesday, June 28, with $85.1 million for operations and $13.5 million for capital expenditures. Download the full budget here.
The City of Rocklin remains fiscally sound due to prudent and conservative planning by the City Council. The revenue outlook is generally positive, with anticipated increases in property and sales tax revenues. However, as the City forecast’s revenues and expenditures over the next five-year period, it is important to note that steps may be needed in the future to enhance revenues and/or reduce expenditures to combat costs that are naturally rising at a higher rate than revenues.
General Fund revenue projections for FY 2022/23 include a 7% increase in property taxes, for a total of $22.2 million, and a 14% increase in sales tax, for a total of $20.2 million. The increases are due to rising home values, and sales growth by Rocklin businesses. Based on actuals over the course of the year, we are projecting an increase to most revenue categories.
Consistent with City Council direction, long-term fiscal sustainability is reflected in this budget. By year end, General Fund operating reserves will be approximately $14.2 million; reserved funds for self-insured losses and disaster contingency will be $2 million and $1 million, respectively, with an unreserved fund balance of approximately $17.9 million.
Some of the significant planned projects and/or expenditures in FY 2022/23 include:
- $162,189 to restore funding for one full-time frozen firefighter position.
- 384,444 to add two full-time police officer positions and a vehicle to the police department.
- $48,600 to add a full-time irrigation technician position and truck to manage workload in Rocklin’s 37 parks.
- $546,000 to complete Phase II of the the SWRA East Trails restoration, when combined with phase I, will open more than 2 additional miles of walkway in the park.
- $230,000 for construction of restrooms at the SWRA.
- $920,000 to fund the bike pump track at Whitney Community Park
- $350,000 to replace the obsolete VHF Motorola radio system.
As the City continues to recover from the challenges caused by the COVID-19 pandemic, staff is cautiously optimistic that the recovery will continue. The FY 2022/23 Annual Budget reflects prudent investments in staffing and programs to meet community needs and support priority initiatives.
This past year the City received just over $7 million in American Rescue Plan Act (ARPA) funding, and to date the City Council has approved spending programs for more than half of the funds. Staff will continue to work to provide those funds to support Rocklin’s residents, non-profit organizations, and business community to bolster the local economy and support those in our community most impacted by the pandemic.
The leadership and commitment of City Council to sustaining the health and welfare of Rocklin provides a strong foundation of past successes and allows us to confidently build for the future.