Agenda - Council - 09/13/2005 - Laserfiche WebLink

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REVIEW AND ADOPT "PROPOSED" 2006 GENERAL FUND BUDGET By: Diana Lund, Finance Officer Background: fl'lac 2006 Proposed General Fund Budget, is strictly a "Proposed" budget and will be amended in thc i~llowing months before final adoption in December, 2005. Thc 2006 proposed budget estimates that 981 housing units will be built in the City during 2006. Thc proposed construction estimate was used to calculate building permits, plan check fees, plumbing permits, heating permits and sewer and water permits in the budget. Thus, these figures arc very sensitive to the 2006 building economy. Thc budget as presented includes $814,765 of capital outlay items with an additional 125,452 for tirst-ycar depreciation on these items. About twelve percent of these capital items/depreciation will be l'unded fi'om the Equipment Revolving Fund with the remainder to be funded from the issuance of Capital Equipment Certificates. In totztl, Public Safety [police, fire, inspections, civil defense] is now 38.02% of the budget. (;cncra] Government [administration, finance, elections, planning and legal] is 25.11% of the budget, l'ublic Works and Parks represent 28.55% and miscellaneous and transfers make-up the balance. ~l'hc 2006 "Proposed" General Fund Budget must be adopted by September 15, 2005 and submittcci to thc County Auditor along with the certified property tax levy. Therefore, the 2006 Proposed l~evy and "Proposed" General Fund Budget are presented for adoption at tonights (',ouncil meeting. Staff Recommendation: Stall' recommends adoption of the 2006 "Proposed" General Fund Budget as presented utilizing thc proposed tax levy. (h~mnittee Action: Motion to recommend City Council adoption of Resolution #05-09-XXX Resolution Adopting thc "Proposed" 2006 General Fund Budget. Reviewed By: (lit3' Administrator Finance Ot'ficer I;C: 9/13/05