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Replacement Revolving Fund. We have identified our need for infusion into this fund of $264,225. Because the money just is not available within this budget, we have reduced the allocation from the General Fund to the Equipment Fund in the amount of $126,000. Finally, as a financing source, as was the case in 1992, we have suggested utilizing the Landfill Tipping Fee Fund - Restricted Portion to pay for the Environmental Specialist position (Exhibit 6). Exhibit seven is a summary of 1993 budgeted revenues. Exhibit eight is recommended 1993 budget cuts in the supplies, services and charges area. A special note here is we have eliminated proposed contributions to the Elk River School District for their Community Education Program and we have recommended a reduction in the contribution to the Anoka-Hennepin Community Education Program to the amount of $3,400 which will provide funding for the summer program only. The other large item is that since there are no MSA streets in the 1993 Street Program, $34,200 will be recovered into the General Fund. Exhibit nine is a memorandum on cuts in the personal services budget. There are several items of note contained within this exhibit. Therefore, rather than attempting to summarize, I direct your attention specifically to that exhibit. Exhibit ten is a memorandum detailing capital outlay cuts. As with the previous exhibit, the outlay item will stand alone. Exhibit 11 is the Park and Recreation Capital Improvement Program for 1993 as requested. This exhibit includes pages detailing by recreation district the amount of park dedication receipts actually received through time. It is contemplated within this budget that the Emerald Pond, Sunny Ponds and Rivenwick park improvements will occur as park dedication funds become available, projected in the amount of $141,000 and that the $117,400 identified as a 1993 General Fund budget allocation, be reduced to $50,000 in General Fund contribution with some or all of the balance coming from the Park Improvement Trust Fund and/or the Gambling Fund. Exhibit 12 is various loan repayment schedules for a $1.5 million Public Works facility. Shown are five, ten and twenty year amortizations all utilizing a 7% interest cost with the various payments one can expect from those rates of amortization with a $1.5 million expenditure. It was previously mentioned within this memorandum that we have not included an allocation for a Public Works facility within the 1993 budget. This budget contemplates an increase in tax capacity rate from 15.215% to 16.676%. The City of Ramsey has a current tax capacity rate well below that of its peer cities. It should be noted that the proposed increase in tax capacity; 1) raises $65,835 in additional revenue above 1992 levels; 2) does not have a very significant impact upon typical homeowners; 3) will maintain the Ramsey tax capacity rate well below the average of Anoka County cities, cities with population similar to ours and neighboring Sherburne and Hennepin County cities. This budget contemplates very little capital outlay purchases, contemplates reductions in personal service levels and reserves $55,000 in the event of unplanned 1993 State sales tax transfer reduction. It should be noted at this point that should the State determine that State financial problems should continue to fall on the backs of the cities, there are few areas within this budget from which to recover the necessary resultant funds. There is a meeting scheduled on September 8, during which it is hoped that the Council will pass upon a tax levy as presented herein. However, should Council desire to call a special meeting, in actuality, you have until September 15 to pass upon a proposed levy. /~mt