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REVIEW AND ADOPT 2005 TAX LEVY AND GENERAL FUND BUDGET By: Diana Lund, Finance Officer Background: The 2005 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 38.15 tax capacity rate. This budget was balanced through staff recommended adjustments and resulted in a total contingency in the amount of $209,988. Thc 2005 budget includes additional personnel in the form of a police officer, two street maintenance workers, two building inspectors, a commununity service officer, assistant finance officer, three interns and a half-time fire secretary. The budget as presented includes $442,417 of capital outlay items (purchase cost and one year depreciation) of which $116,263 will be funded by the Equipment Revolving Fund and the remaining $326,154 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 39.11% of the budget. General Government [administration, finance, elections, planning and legal] is 27.06% of the budget. Public Works and Parks represent 27.90% and miscellaneous and transfers make-up the balance. State Statutes require that the 2005 Levy and General Fund Budgets must be adopted at a meeting belbre December 28, 2004. Therefore, the 2005 Proposed Levy and General Fund Bridget are presented for adoption at tonights Council meeting. Council Action: Motion to rccolnlnend City Council adoption of Resolution #04-12-XXX Resolution Adopting the 2004, Payable 2005 Municipal Tax Levy - and - Motion to recommend City Council adoption of Resolution #04-12-XXX Resolution Adopting the 2005 City of Ramsey General Fund Operating Budget. FC: 12/14/04