(Atlantic, Iowa) – Information with regard to the City of Atlantic’s Fiscal Year 2023 Budget, 10-year Budget Projections and 10-year Capital Improvement Plan were presented to the Atlantic City Council Wednesday night, by City Administrator John Lund. Lund first addressed the financial situation…

The breakdown of income expected, of course includes property taxes.

The bottom-line, he said, is that the Tax Levy of $16.56/$1,000 assessed valuation is unchanged from last year. Other income includes refunds for the ambulance service agreement from the County and the hospital, campground fees. Lund said with regard to Labor Costs, the baseline increases are 2.4%. The Personnel and Finance Committee he said reviewed comparable compensation from cities of similar size.

Lund says as a result of the increases and wage equalizations, the City will need to focus more on revenue in the coming fiscal year. In conclusion, John Lund had some bad and good news….

He said also, the Sanitary Sewer rates in Atlantic need to be reviewed, and increases will likely be needed to be implemented by July 1, 2023. The last rate increase/adjustment, was in 2013. He said the City will need to utilize some the ARPA (Covid relief) funds to offset ambulance service cost overruns, and a health insurance spike. The ambulance contract will be addressed within the next year, and the health insurance will need to be addressed in the next Union contract, the negotiations for which in the fall of 2023. That includes a possible option to buy down the City’s deductible. Lund said “This is absolutely not the time for any type of deficits showing up, anywhere.”

For now, though, the City’s financial position is “Still pretty strong,” according to Lund, and “We should be able to make some investments that over the long-term will shore up some of these weaknesses, and make the long-term outlook look a lot better.” He commended work being accomplished by the Housing Committee will position the City in a positive way, to turn some of the negative issues around.

A copy of the full report is available for review at City Hall.