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<br />CITY COUNCIL WORK SESSION <br />Topic Report: 2008 General Fund Budget <br />By: Heidi Nelson, Interim City Administrator <br />& Diana Lund, Finance Officer <br /> <br /> <br />Background: <br /> <br />Staff and Council continued discussion of the 2008 budget at the August 14th work <br />session. During that meeting, staff provided updated valuation information from the <br />County and Council directed staff to utilize the additional revenue to reduce the capital <br />transfer for debt service for 2008 and maintain the tax rate at 39.41. <br /> <br />Staff is seeking to finalize direction with regard to the Sealcoating Policy, funding for <br />community programs, and the use of Charitable Gambling Funds for programming. In <br />addition staff would like to provide an overview of the department line item budgets for <br />2008. <br /> <br />At the September 11 th regular meeting, Council will need to certify our 2008 levy to <br />Anoka County (September 15 deadline); therefore, staff would like to finalize policy <br />direction regarding the budget during the work session of September 4th. Attached to this <br />report is the updated Tax Capacity Calculation document for Council review. <br /> <br />** PLEASE BRING YOUR YELLOW 2008 BUDGET BOOK <br />WITH YOU TO THE MEETING** <br /> <br />Action Statement: <br /> <br />Review and discuss 2008 General Fund Budget <br /> <br />CCWS: 09/04/07 <br /> <br />I <br /> <br />~ <br />