FOR IMMEDIATE RELEASE Contact: Corinne Straight

September 12, 2023 corinne.straight@coei.org

574.350.4209

Mayor Roberson Introduces the 2024 Budget for the City of Elkhart
At the meeting on the Elkhart Common Council on Monday evening, Mayor Roberson and the administration
introduced the vision for the 2024 city budget.

Below are the comments the mayor shared at last night’s meeting:

“Good evening Council:

You have received for review the budget book for the 2024 budget for the City of Elkhart. After months of
preparation and deliberation, we feel strongly that this budget will continue to provide Elkhart with the
unparalleled service they have come to expect from this staff. This is our fourth budget together and after four
years, much has changed, but much remains the same; for 2024 as for previous years, we have increased our
rainy day fund; for 2024, as for previous years, we have not spent down our general fund; and for 2024, as for
previous years, we have a surplus budget. We will receive $123 million in revenue and we have budgeted $118
million.

Elkhart remains in a comfortable position with 97% of our revenue in the general fund as cash on hand. For
reference, the national best practice standard is a minimum of 15%.

Here are some other financial stats:

 General fund has grown nearly 4 million since 2019; $42.1 million in 2019 and $46.4 in 2022
 We are prepared for a Rainy Day with a cash reserve that represents 11% of our revenue in that fund,
again exceeding the state's policy of 5% of general fund revenue.
o 2019 Rainy Day was $9.5 million, in 2022, $10.8 million
 Our unobligated Capital Outlay fund increased nearly; $14 million dollars; $4.7 in 2019 and $18.1 in
2022
 Our other funds are well-positioned and aligned with best practices

We all know that the prices of goods and services have increased in these last 4 years. For example, for a ton of
asphalt we paid $54 in 2019 and for 2024, we are preparing for $72 per ton -- a 25% increase. Inflation has
made budgeting a challenge, but we have risen to that challenge. Even with substantial increases for things
like asphalt, because revenue has also increased, and because of the diligence of this Council and this
administration, we are still running a surplus budget for another year in a row.

And we are still focused on strategic investment in our capital requests. We are investing in infrastructure with
sewer improvements and protecting our historic assets by repairing the soffits at the Train Depot; making our
parks more inviting and accessible with bathrooms at Walker Park and upgrading the pool at Pierre Moran.

Our staff are becoming more effective and efficient with our investments in new equipment like zero-turn
mowers, plow trucks, and expanding the capabilities of current equipment by upgrading their. We will continue
to invest in our neighborhoods by hiring a neighborhood coordinator, strengthening our code enforcement
department, and improving our 311 system.

None of these investments in Elkhart would be possible without our staff. In 2024, our workforce of 700+ will
continue to enjoy a robust benefits package which includes merit-based compensation, stable health-insurance
premiums, employer-paid Short Term Disability coverage, an increased residency incentive, accelerated
vacation accrual, and more. These benefits put together make the City of Elkhart an attractive place to work.

A responsible budget that knows no party is a long tradition here in the City of Elkhart. I was proud to be a
part of that tradition when I served on Council and proud to be part of it today. We thank the Council for your
consideration and your service. I, along with our staff, look forward to collaborating with you as we work to set
our vision for 2024.”

The next step in the budget process takes place on Saturday, September 16 th at the Lerner Theater beginning
at 9am.

Please don’t hesitate to reach out with any questions.