Laserfiche WebLink
Motion carried. Voting Yes: Mayor Gamec, Councilmembers Beyer, Beahen, Haas Steffen, and <br />Zimmerman. Voting No: None. <br /> <br />Motion by Councilmember Beyer and seconded by Councilmember Beahen to adopt resolution <br />//97-12-330 adopting the 1998 City of Ramsey General Fund Operating Budget. <br /> <br />Motion carried. Voting Yes; Mayor Gamec, Councilmembers Beyer, Beahen, Haas Steffen and <br />Zimmerman. Voting No: None. <br /> <br />Councilmember Haas Steffen indicated she would prefer to start the budgeting process earlier in <br />the year. <br /> <br />Case #12: Review and Adopt 1998 Economic Development Authority Operating Budget <br /> <br />Finance Officer Hart presented the 1998 Proposed Economic Development Authority Budget. <br />The financing sources for these operations include transfers from the tax increment districts and <br />interest earnings. Due to changes in the laws during 1997, transfers from tax increment districts <br />have been calculated at 8% to recognize administrative charges that are paid through each tax <br />increment district. She explained that this budget includes expenditures for salary costs of <br />various levels of city staff, costs associated with the Economic Development Commission, and <br />allowances for economic development programs including participation at the annual Game Fair, <br />business expo, annual business appreciation day and entry signs into the City. <br /> <br />Motion by Councilmember Beahen and seconded by Councilmember Zimmerman to adopt <br />Resolution #97-12-341 adopting the 1998 Economic Development Authority Operating Budget. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Beahen, Zimmerman and Beyer. <br />Voting No: Councilmember Haas Steffen. <br /> <br />Motion by Councilmember Beahen and seconded by Councilmember Zimmerman to adopt <br />Resolution #97-12-342 amending the 1997 Economic Development Authority Operating Budget. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Beahen, Zimmerman, Beyer and <br />Haas Steffen. Voting No: None. <br /> <br />Case #13: Review and Adopt 1998 Enterprise Fund Budgets <br /> <br />Finance Officer Hart presented the proposed 1998 Enterprise Fund Budgets which cover the <br />Water Utility Fund, Sewer Utility Fund, Street Light Utility Fund and the Recycling Utility <br />Fund. In order to establish fair rates for all of the utilities that the City operates, it is necessary to <br />determine the actual cost of providing those utilities to the residents. Due to the relatively young <br />age of the City's utility system, it is extremely difficult to immediately realize profits, but it is <br />important that any losses in the first years of operation be representative of what the system <br />actually costs. She explained that an important factor in these costs is the recovery of <br />depreciation through the rate structures. We are required to keep the accounting for these funds <br />on the full accrual method which means recognizing total depreciation, whether on City or <br /> <br />City Council/December 9, 1997 <br /> Page 13 of 18 <br /> <br /> <br />