As City staff prepare for the upcoming FY2022 Operating Budget, I am pleased to report the City’s financial situation remains positive. Sales tax collections and other revenue sources remain up over last year and capital investment into our City for the current year continue on schedule, with many projects completed. The City’s cash reserves are healthy and on target with the City’s reserve policy, a key attribute of a financially stable organization. A strong reserve position allows the City to weather economic downturns, manage changes in revenue flows, maintain the capital needs of the departments, and to effectively address unexpected emergencies.
In the upcoming months, the City is expected to receive ARPA funds to allow the City to respond to related effects due to the recent public emergency. The ARPA (American Rescue Plan Act, ‘the Act’) signed into law by President Biden on March 11, 2021, includes relief funds to cities, towns, and villages in the United States for specific uses including investments in infrastructure, pay for essential workers, replacement of lost revenue, and expenditures to address negative economic and public health impacts caused by the public health emergency. We have completed the application process and are awaiting receipt of funds from the State of Missouri Office of Administration. The Act requires appropriation of funds by the City for approved uses through December 31, 2024, and planning for said funds with the Mayor, Board of Aldermen, and staff will begin soon.
We are dedicated to being good stewards of our community and will continue to operate efficiently to deliver superior municipal services to our citizens and visitors.
I hope you find value in the City’s newsletter. In addition, the City provides a lot of information on our website, including Board meeting activity, official City statements, and my office’s report to the Board of Aldermen each month which can be found HERE.
Please know that your comments and suggestions are important! Do not hesitate to contact me or other staff members.