Agenda - Council - 01/14/1997 - Laserfiche WebLink

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I I I Motion carded. Voting Yes: Mayor Hardin, Councilmembers Peterson, Beahen, Beyer and Zimmerman. Voting No: None. Motion by Councilmember Peterson and seconded by Councilmember Beahen to adopt Resolution 4/96-12-348 adopting the 1997 City of Ramsey General Fund Operating Budget. Motion carried. Voting Yes: Mayor Hardin, Councilmembers Peterson, Beahen, Beyer and Zimmerman. Voting NO: None. 4) Adopt 1997 Enterprise Fund Budgets Finance Officer Hart stated that the Proposed 1997 Enterprise Fund Budgets cover the Water Utility Fund, Sewer Utility Fund, Street Light Utility Fund and the Recycling utility Fund. While formal budgets are required to be prepared and adopted annually for the General Fund, this is not the case for Enterprise Funds. In order to establish fair rates for all of the utilities that the City operates, it is necessary to determine the actual cost of providing those utilities to the residents. Due to the "young age" of the City's utility system, it is extremely difficult to immediately realize profits, but it is important that any losses in the first years of operation be representative of what the system actually costs. An important factor in these costs is the recovery of depreciation through the rate structures. We are required to keep the accounting for these funds on the full accrual method which means recognizing total depreciation, whether on City or developer installed systems. Staff recommends an increase of 5% in the water and sewer rates which continues to move them into a positive position. There is no increase in street lights or recycling funds as they already "hold their own". Motion by Councilmember Beahen and seconded by Councilmember Peterson to adopt Resolution //96-12-349 adopting the 1997 Enterprise Fund Budgets. Motion carried. Voting Yes: Mayor Hardin, Councilmembers Beahen, Peterson, Beyer and Zimmerman. Voting No: None. 5) Adopt 1997 Economic Development Authority Operating Budget Finance Officer Hart presented the 1997 Proposed Economic Development Authority Budget. This is the fourth year a formal budget will be used for economic development activities financed by the EDA. The financing sources for these operations include transfers from the tax increment districts and interest earnings. Additional revenues from land sales could be recognized in 1997, but due to the speculative nature, are not budgeted for. This budget includes expenditures for salary costs of various levels of City staff, costs associated with the Economic Development Commissions and allowances for economic development programs including participation at the annual Game Fair, business expo and entry signs into the City. Motion by Councilmember Beahen and seconded by Councilmember Peterson to adopt Resolution //96-12-350 adopting the 1997 Economic Development Authority Operating Budget. Motion carried. Voting Yes: Mayor Hardin, Councilmembers Beahen, Peterson, Beyer and Zimmerman. Voting No: None. 6) Authorize Budget Amendment for the Purchase of Slide Projector for Crime Prevention and D.A.R.E. Programs Finance Officer Hart reported that the Police Department is requesting the purchase of an auto- focus slide projector which would be used as a teaching tool to assist and compliment the City Council/December 10, 1996 Page 23 of 25