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<br />J- <br /> <br />CITY COUNCIL WORK SESSION <br />Topic Report: 2007 Budget <br />By: James E. Norman, City Administrator <br /> <br /> <br />Background: <br /> <br />2006 Bud2et <br />The City Council has asked for information regarding the 2006 budget. Staff has been <br />working with developers to determine the amount of building permits that will be taken <br />out during the calendar year of 2006. The "down turn" in the residential construction <br />market has had a significant impact on the amount of permits that will be taken out in <br />2006 and it will in turn leave an impact on the revenues projected for 2006. Staff will <br />make a report on the projections and provide recommendations how to address the <br />reduction in projected revenues. <br /> <br />2007 Bud2et <br />Staff is in the process of completing the first draft of the 2007 preliminary budget and <br />will distribute it during the work session. At the direction of the Council last year, all <br />requests by departments have been included in the preliminary budget. A separate <br />document of City Administrator/Finance Officer recommendations will also be <br />distributed along with the preliminary budget. <br /> <br />Action Statement: <br /> <br />Based upon discussion. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Finance Officer <br /> <br />CCWS: <br /> <br />08/03/06 <br />