Summary of 2009 Year-End Review

• For the third straight year, the City was able to manage expenditures to revenues.  The general fund again ended with expenditures lower than revenues.  2009 total expenditures were $340,581 less than revenues collected.  The Fourth Quarter Report and Fund Summaries are attached.

• While total general fund expenditures grew in 2009, total expenditures not related to the new sales taxes approved by voters in 2008 were actually $70,054 lower than 2008 expenditures.

• The total amount paid to vendors in all funds in 2009 was $124,759,835.  This is $2,074,026 less than the total amount paid to all vendors in 2008.

• Total expenditures in the general fund were reduced while still maintaining City Commission priorities and focusing on street/infrastructure maintenance, public safety and economic development.

• Expenditure reductions included leaving unfilled positions vacant, savings in fuel costs and other targeted reductions.

• The 2009 budget eliminated funds for 15 vacant positions.  An additional 11 vacancies were left unfilled for all or some part of 2009. 

• Budget and expenditure management in 2009 continues in 2010 as staff remains cautiously optimistic about economic prospects for Lawrence.

• The City is maximizing resources from the stimulus bill: North 2^nd and Locust, New York Street and Clinton Parkway Path reconstruction projects.

• The city is continuing to invest in economic development:  bioscience incubator, West Labs acquisition, water and sewer improvements to airport.