Agenda - Council - 09/10/2013 - Laserfiche WebLink

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CC Regular Session 7. 2. Meeting Date: 09/10/2013 By: Diana Lund, Finance Information Title: Review and Adopt Proposed 2014 General Fund Budget Background: The budget as presented reflects the consensus of the city council at the final preliminary budget work session on September 3, 2013. The 2014 Proposed General Fund Budget, is strictly a "Proposed" budget and will be amended in the following months before final adoption in December, 2013. The budget as presented represents a balanced budget of $9,894,184, or a $399,653 or 3.88% decrease over the adopted 2013 General Fund Budget of $10,293,837. The revenue sources are made up of: Taxes: 74.0% (69.1%-2013); Permits: 5.1% (4.2%-2013); Intergovernmental: 4.1% (2.9%-2013); Charges for Services: 5.5% (10.4%-2013); Fines/Interest Earnings: 1.6% (1.7%-2013); and Transfer from other Funds: 9.7% (11.7%-2013). In total, Public Safety [police, fire, inspections, civil defense] is now 43.0% of the budget. General Government [administration, finance, elections, planning and legal] is 25.5% of the budget. Public Works and Parks represent 29.7% and miscellaneous and transfers make-up 1.8% of the budget. The 2014 "Proposed" General Fund Budget must be adopted by September 16, 2013 and submitted to the County Auditor along with the certified proposed property tax levy. Therefore, the 2014 Proposed Levy and "Proposed" General Fund Budget are presented for adoption at tonight's Council meeting. Recommendation: Staff recommends adoption of the 2014 proposed General Fund Budget as presented. Funding Source: None required. Council Action: