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<br />FC# I <br /> <br />REVIEW AND ADOPT 2008 TAX LEVY AND GENERAL FUND BUDGET <br />By: Diana Lund, Finance Officer <br /> <br />Background: <br /> <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 /> <br />This budget was balanced through staff recommended adjustments and resulted in a total contingency <br />in the amount of$52,335. <br /> <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 /> <br />The budget as presented includes $392,200 of capital outlay items which will be funded by the <br />Equipment Revolving Fund. <br /> <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 /> <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 /> <br />Funding Source: <br /> <br />None Required. <br /> <br />Council Action: <br /> <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-XXX Resolution Adopting the <br />2008 City of Ramsey General Fund Operating Budget. <br /> <br />Reviewed By: &:; <br />City Administrator: <br />Finance Officer · <br /> <br /> <br />FC: 12/11/07 <br />