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<br />- <br /> <br />3 <br /> <br />CITY COUNCIL WORK SESSiON <br />Topic Report: Amended 2009 General Fund <br />Budget Amendments due to State Aid Cuts <br />and 2010 Budget Recommendations due to <br />State Aid Cuts and Market Value Loss <br />By: Diana Lund. Finance Officer <br /> <br />/ <br />J i! <br />I' /' <br />1 . I' <br />~sEY <br /> <br />Background: <br /> <br />Staff has been working on how to re-balance the 2009 budget with the $400,000 cut in <br />Market Value Homestead Credit and making recommendations of how the 2010 budget <br />will need to be amended, not only with the $400,000 in Market Value Homestead Credit <br />reductions, but also with the possibility of approximately one million lost in marketable <br />value. <br /> <br />A power-point presentation and handouts will be available at the meeting reflecting <br />staff's proposed cuts to the 2009 and 2010 budgets. <br /> <br />Action Statement: <br /> <br />Discussion of2009 budget amendments to offtet $400,000 in state aid cuts and the 2010 <br />budget to reflect $400,000 in state aid cuts and loss in marketable value. <br /> <br />City Administrator: <br />Finance Officer <br /> <br />~ <br /> <br /> <br />Reviewed By: <br /> <br />CCWS: 3/3/09 <br />