GENERAL FUND: EXPENDITURES

Department: Economic Incentives and Interfund Transfers

Explanation Of Significant Budget Variances

2023

Adopted Budget vs. 2022 Projected Actual

• The decrease in the transfer to the Cultural Fund reflects the recovery of Parker Arts after COVID-19.

• Transfers to the Capital Renewal and Replacement Reserve fund in 2022 and 2023 are based on the available cash in the General Fund. This money is being set aside for infrastructure needs that were identified in the 2021 Facilities Master Plan

• Beginning in 2023, the General Fund is picking up the transfer to the Recreation Fund. The transfer previously came from the Parks and Recreation Fund, but the robust capital plan for parks requires conserving cash in that fund.