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REVIEW AND ADOPT "PROPOSED" 2004 GENERAL FUND BUDGET <br /> By: Diana Lund, Finance Officer <br /> <br />Background: <br /> <br />The 2004 Proposed General Fund Budget, as it has been presented, is based on the collection of <br />tax dollars at a level that has an imposed levy limit for 2004 payable. This is strictly a <br />"proposed" budget and will be amended in the following months before final adoption in <br />December, 2003. <br /> <br />The budget as presented includes $444,680 of capital outlay items with an additional $81,882 for <br />first-year depreciation on these items. About thirty-six percent of these capital <br />items/depreciation will be funded from the Equipment Revolving Fund with the remainder to be <br />funded from the issuance of Capital Equipment Certificates. <br /> <br />In total, Public Safety [police, fire, inspections, civil defense] is now 36.74% of the budget. <br />General Government [administration, finance, elections, planning and legal] is 28.44% of the <br />budget. Public Works and Parks represent 24.20% and miscellaneous and transfers make-up the <br />balance. <br /> <br />The 2004 "Proposed" General Fund Budget must be adopted by September 15, 2003 and <br />submitted to the County Auditor along with the certified property tax levy. Therefore, the 2004 <br />Proposed Levy and "Proposed" General Fund Budget are presented for adoption at tonights <br />Council meeting. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends adoption of the 2004 "Proposed" General Fund Budget as presented utilizing <br />the proposed tax levy. <br /> <br />Committee Action: <br /> <br />Motion to recommend City Council adoption of Resolution #03-09-XXX Resolution Adopting <br />the "Proposed" 2004 General Fund Budget. <br /> <br />Reviewed By: <br />City Administrator <br />Finance Officer <br /> <br />FC: 9/09/03 <br /> <br /> <br />