Agenda - Council - 12/12/2006 - Laserfiche WebLink

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• FC# I REVIEW AND ADOPT 2007 TAX LEVY AND GENERAL FUND BUDGET By: Diana Lund, Finance Officer Background: The 2007 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 39.94 tax capacity rate. This budget was balanced through staff recommended adjustments and resulted in a total contingency in the amount of $222,622. The 2007 budget includes additional personnel in the form of a police officer, assistant city engineer, and a half-time police records tech. The budget as presented includes $1,124,571 of capital outlay items of which $354,060 will be funded by the Equipment Revolving Fund and the remaining $7770,511 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 42.06% of the budget. IsGeneral Government [administration, finance, elections, planning and legal] is 26.38% of the budget. Public Works and Parks represent 29.18% and miscellaneous and transfers make-up the balance. State Statutes require that the 2007 Levy and General Fund Budgets must be adopted at a meeting before December 28, 2006. Therefore, the 2007 Proposed Levy and General Fund Budget are presented for adoption at tonights Council meeting. Council Action: Motion to recommend City Council adoption of Resolution #06 -12 -XXX Resolution Adopting the 2006, Payable 2007 Municipal Tax Levy -and- Motion to recommend City Council adoption of Resolution #06 -12 -XXX Resolution Adopting the 2007 City of Ramsey General Fund Operating Budget. FC: 12/12/06 • —211—