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FC# REVIEW AND ADOPT "PROPOSED" 2007 GENERAL FUND BUDGET By: Diana Lund, Finance Officer b Background: The 2007 Proposed General Fund Budget, is strictly a "Proposed" budget and will be amended in the following months before final adoption in December, 2006. The 2007 proposed budget estimates that 336 housing units will be built in the City during 2007. The 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 are very sensitive to the 2007 building economy. The budget as presented includes $1,124,571 of capital outlay items. $329,059 of these capital items will be funded from the Equipment Revolving Fund with the remainder to be funded from the issuance of Capital Equipment Certificates. In total, Public Safety [police, fire, inspections, civil defense] is now 41.68% of the budget. General Government [administration, finance, elections, planning and legal] is 27.10% of the budget. Public Works and Parks represent 28.81 % and miscellaneous and transfers make-up the balance. The 2007 "Proposed" General Fund Budget must be adopted by September 15, 2006 and submitted to the County Auditor along with the certified property tax levy. Therefore, the 2007 Proposed Levy and "Proposed" General Fund Budget are presented for adoption at tonights Council meeting. Staff Recommendation: Staff recommends adoption of the 2007 "Proposed" General Fund Budget as presented utilizing the proposed tax levy. Committee Action: Motion to recommend City Council adoption of Resolution #06-09-XXX Resolution Adopting the "Proposed" 2007 General Fund Budget. Reviewed By: City Administrator Finance Officer FC: 9/11/06