Agenda - Council - 12/13/2005 - Laserfiche WebLink

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FC# I REVIEW AND ADOPT 2006 TAX LEVY AND GENERAL FUND BUDGET By: Diana Lurid, Finance Officer Background: The 2006 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 39.20 tax capacity rate. ~ This budget was balanced tlzrough staff recommended adjustments and resull~ed in a total contingency in the amount of $237,287. The 2006 budget includes additional personnel in the form of a police officer, a street maintenance worker, engineering tech, part-time building maintenance, and increase of current half-time fire secretary to full time. The budget as presented includes $846,653 of capital outlay items (purchase cost and one year depreciation) of which $109,788 will be funded by the Equipment Revolving Fund and the remaining $736,865 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 37.86% of the budget. General Government [administration, finance, elections, planning and legal] is 25.04% of the budget. Public Works and Parks represent 28.71% and miscellaneous and transfers make-up the balance. State Statutes require that the 2006 Levy and General Fund Budgets must be adopted at a meeting before December 27, 2005. Therefore, the 2006 Proposed Levy and General Fund Budget are presented for adoption at tonights Council meeting. Council Action: Motion to recommend City Council adoption of Resolution #05-12-XXX Resolution Adopting the 2005, Payable 2006 Municipal Tax Levy Motion to recommend City Council adoption of Resolution #05-12-XXX Resolution Adopting the 2006 City of Ramsey General Fund Operating Budget. FC: 12/13/05 -556-