FINANCIAL HIGHLIGHTS OF THE 2023 BUDGET (cont)

Expenditures by Department

Major variances by department are largely personnel related but also include inflationary increases in repairs and maintenance. The following are notable variances between the 2022 Projected and 2023 Budget:

• The variance in Community Development reflects the removal of the 2022 Parker Master Plan update that was a one-time expense and an increase in both building inspections and bank fees for which there is offsetting revenue.

• Interfund transfers are decreasing due to the one-time $24.4 million dollar transfer to the Capital Renewal and Replacement Reserve fund in 2022. The 2023 budget includes a transfer of $8.2 million based on available cash reserves.