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expenses. Finance Director Rancatore stated that in the 2024 Budget Book, the finance department included a policy with the goal of having $1 million in the reserve fund. Councilmember Rader expressed gratitude to HR Director Dillinger, particularly for the introduction of the Climate Action Coordinator position. Councilmember Rader requested an update on the creation of this role. In response, HR Director Dillinger explained that a collaborative effort involving the Planning Department, HR, and the Mayor led to the establishment of the Climate Action Coordinator position. Leveraging an unstaffed role within the Planning Department, they merged this vacant position to form the Climate Action Coordinator position. Dillinger also mentioned consulting other cities with similar roles and working with the Civil Service Commission to craft the job description. Councilmember Rader acknowledged that the paygrade for the position is satisfactory, expressing confidence in attracting qualified candidates. Councilmember Marx inquired about the timeline for posting the new job opening on the City’s website. HR Director Dillinger responded, stating that it would be posted in early January. Director Dillinger concluded by expressing gratitude to Council for their efforts in ensuring paid parental leave for Lakewood City employees, expressing appreciation for the time her family will have. *** 2024 Budget Overview Finance Director Rancatore provided a high-level overview of the 2024 budget process. He stressed that developing the annual budget is a collaborative process amongst all departments to determine how to best allocate the City's resources. He then reviewed the components of the budget that are covered in the accompanying ordinances that will be deliberated during the budget hearing process. He also pointed out that Ordinance 36-2023 will amend the tax code for the City in response to changes to the municipal income tax law mandated by the state. Mayor George read from her introductory letter in the budget book and reviewed the major accomplishmentsof 2023 which included the opening of the Cove Community Center, the remodeling of Foster Pool, public safety upgrades and beginning construction on the new Refuse Recycling Facility and Storage Yard. Lastly, she spoke about the necessary investments in our water and sewer infrastructure that will take priority for budget year 2024 in addition to upgrading the amenities at the Winterhurst Ice Rink. Finance Director Rancatore went into more detail about the proposed $263.4 million budget, which includes $31 million dollars in ARPA funding that will be spent down and attached to capital projects over the next two years. He stated that the General Fund budget is $56.5 million and that about 76%of that is dedicated to wages and salaries of which 55% of that is dedicated to public safety positions. Director Rancatore provided an overview of the City’s revenue structure. He said that 58%of the City’s revenue comes from income tax and about 20% comes from property taxes. He reported that the income tax revenue has increased steadily over the years and that has served the City well. In response to a question from Councilmember Shachner, Director Rancatore went into 5