Agenda - Council - 02/12/2008 - Laserfiche WebLink

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• Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #08 -02 -XXX RESOLUTION AUTHORIZING 2007 FINAL BUDGET AMENDMENT FOR THE PURPOSE OF AMENDING THE CITY'S GENERAL FUND BUDGET WHEREAS, during the year 2007, the Ramsey City Council acted on matters impacting revenue and expenditures budgets of the City's General fund for items that were not included in the original budget for December 31, 2007; and WHEREAS, for financial reporting purposes, amendments to the City's General Fund Budget are to be made in the form of a Budget Amendment Resolution; and WHEREAS, the following budget amendments are in addition to those previously adopted and are required to reflect actual activity for the year ended December 31, 2007; GENERAL FUND #10 1 To amend revenue activities based on budget amendments made by Council action during 2007 and actual moneys received over (under) budget from $10,514,794 to $10,221,765 for a total net decrease of $293,029: • Taxes $ 867 Licenses and Permits (406,363) Intergovernmental Revenues 137,226 Changes for Services (55,097) Fines and Penalties 19,126 Miscellaneous Revenues 7,804 Interest Earnings 0 Transfers in From Other Funds 3.408 Net Decrease in General Fund Budgeted Revenues $ (293,0291 To amend expenditure activities based on actual moneys spent over (under) budget for the 2007 calendar year. This amendment incorporates budget amendments made by Council action during 2007. This amendment will amend expenditure activities from $10,514,794 to $9,388,265 for a net decrease of $1,026,529. This reduction includes $420,000* of capital items that will be encumbered and transferred to the 2008 General Fund Budget. Personal Services Supplies Other Services and Changes Capital Outlay • Transfers to Other Funds Net Decrease in General Fund Budgeted Revenues $ (115,633) (3,113) (500,991) (506,792)* 100.000 $ (1,026.5291