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FC# I REVIEW AND ADOPT 2004 TAX LEVY AND GENERAL FUND BUDGET By: Diana Lund, Finance Officer Background: The 2004 Proposed General Fund Budget, as it has been presented and reviewed in the past several months, is based on the collection of tax dollars and results in an estimated 37.401 tax capacity rate. This budget was balanced through staff recommended adjustments and resulted in a total contingency in the amount of $146,838. The 2004 budget includes any additional personnel in the form of a police officer, street maintenance worker, fire/building code inspector, engineering tech II and an IT Manager who would replace the City's LOGIS contract. The budget as presented includes $933,978 of capital outlay items (purchase cost and one year depreciation) of which $280,223 will be funded by the Equipment Revolving Fund and the remaining $653,755 to be funded via Capital Equipment Certificates which will be added to the property tax levy over the next five years. In total, Public Safety [police, fire, inspections, civil defense] is now 36.08% of the budget. General Government [administration, finance, elections, planning and legal] is 26.51% of the budget. Public Works and Parks represent 28.12% and miscellaneous and transfers make-up the balance. This budget assumes that the PIR Fund will be providing for the street maintenance sealcoating program for 2004, in the same manner as had been provided in 2003. State Statutes require that the 2004 Levy and General Fund Budgets must be adopted at a meeting before December 30, 2003. Therefore, the 2004 Proposed Levy and General Fund Budget are presented for adoption at tonights Council meeting. Council Action: Motion to recommend City Council adoption of Resolution #03-12-XXX Resolution Adopting the 2003, Payable 2004 Municipal Tax Levy - and - Motion to recommend City Council adoption of Resolution #03-12-XXX Resolution Adopting the 2004 City of Ramsey General Fund Operating Budget. FC: 12/09/03