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• FC# ' <br />REVIEW AND ADOPT 2008 TAX. LEVY AND GENERAL FUND BUDGET <br />By: Diana Lund, Finance Officer <br />Background: <br />The 2008 Proposed General Fund Budget, as it has .been presented and reviewed in the past several <br />months, is based on the collection of tax dollars and results in an estimated 39.072 tax capacity rate. <br />This budget was balanced through staff recommended adjustments and resulted in a total contingency <br />in the amount of $52,335. <br />The 2008 budget includes additional personnel in the form of a police officer that is stated. to be hired <br />.July 1, 2008. <br />The budget as presented includes $392,200 of capital outlay items which will be funded by the <br />Equipment Revolving Fund. <br />In total, Public Safety [police, fire, inspections, civil defense] is now 43.21% of the budget. General <br />Government [administration, finance, elections, planning and legal] is 27.41% of the budget. .Public <br />• Works and Parks represent 28.45% and miscellaneous and transfers make-up the balance. <br />State Statutes require that the 2008 Levy and General Fund Budgets must be adopted at a meeting <br />before December 28, 2007. Therefore, the 2008 Proposed Levy and General Fund Budget are <br />presented for adoption at tonights Council meeting. <br />Funding Source: <br />None Required. <br />Council Action: <br />Motion to recommend City Council adoption of Resolution #07-12-XXX Resolution Adopting the <br />2007, Payable 2008 Municipal Tax Levy <br />-and- <br />Motion to recommend City Council adoption of Resolution #07-12-~~ Resolution Adopting the <br />2008 City of Ramsey General Fund Operating Budget. ' <br />Reviewed By: C <br />• City Administrator: <br />Finance Officer <br />FC: 12/11/07 <br />-139- <br />