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FC# l <br />REVIEW AND ADOPT MIDYEAR 2009 AMENDED GENERAL FUND BUDGET <br />By: Diana Lund, Finance Officer <br />Background: <br />At the work session of March 3, 2009, Council was presented with staff s <br />recommendations on how to re-balance the adopted 2009 General Fund Budget to reflect <br />the decrease in Market Value Homestead Credit of $400,000 and building permit revenue <br />of $300,000. <br />After determining that the City had other possible revenue sources in the amount. of <br />$324,679 related to engineering staff time on capital projects and the. police contract with <br />the Anoka County Records System, the net amount of cuts needed to amend the 2009 <br />budget amounted to $405,321. ' <br />Attached is a detailed listing of the revenue reductions/additions and the offsetting staff <br />proposed expenditure reductions that will re-balance the 2009 General Fund Budget. <br />Council will note that the Community Education Program is proposed to be cut for the <br />second half of 2009. Staff will be meeting with the school district to discuss this <br />.proposed cut. The .City currently funds two other community programs (Youth First- <br />$7,500 and Juvenile Diversion-$5,000) with the Charitable Gambling Fund. As we are a <br />few months into 2009, Youth First has already received their contribution. For the 2010 <br />budget, due to severe budget reductions, all social programs, no matter the funding source <br />(General Fund or Gambling Fund) will need to be examined and prioritized based on <br />whether the program is critical enough to maintain during these tough economic times. <br />At year end, the City will once again be amending the 2009 General Fund budget to <br />reflect more accurately the actual expenditures and revenues of the City for year 2009. <br />Funding: <br />No funding required. <br />Staff Recommendation: <br />Approve attached Resolution #09-03-X~~ Amending the 2009 General Fund Budget <br />with proposed revenue additions/reductions and expenditure reductions. <br />Committee Action: <br />Motion to .recommend Council adopt Resolution #09-03- ~~ Amending the 2009 <br />General Fund Budget. <br />-115- <br />