Laserfiche WebLink
<br />FC# 3 <br /> <br />REVIEW AND ADOPT "PROPOSED" 2008 GENERAL FUND BUDGET <br />By: Diana Lund, Finance Officer <br /> <br />Background: <br /> <br />The 2008 Proposed General Fund Budget, is strictly a "Proposed" budget and will be amended in <br />the following months before final adoption in December, 2007. <br /> <br />The 2008 proposed budget estimates that 197 housing units will be built in the City during 2008. <br />The proposed construction estimate was used to calculate building permits, plan check fees, <br />plumbing permits, heating permits and sewer and water permits in the budget. Thus, these <br />figures are very sensitive to the 2008 building economy. <br /> <br />The budget as presented includes $392,200 of capital outlay items. The total $392,200 of these <br />capital items will be funded from the Equipment Revolving Fund. <br /> <br />In total, Public Safety [police, fire, inspections, civil defense] is now 42.82% of the budget. <br />General Government [administration, finance, elections, planning and legal] is 27.25% of the <br />budget. Public Works and Parks represent 28.17% and miscellaneous and transfers make-up the <br />balance. <br /> <br />The 2008 "Proposed" General Fund Budget must be adopted by September 14, 2007 and <br />submitted to the County Auditor along with the certified property tax levy. Therefore, the 2008 <br />Proposed Levy and "Proposed" General Fund Budget are presented for adoption at tonights <br />Council meeting. <br /> <br />Funding Source: <br /> <br />None Required. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends adoption of the 2008 "Proposed" General Fund Budget as presented utilizing <br />the proposed tax levy. <br /> <br />Committee Action: <br /> <br />Motion to recommend City Council adoption of Resolution #07-09-XXX Resolution Adopting <br />the "Proposed" 2008 General Fund Budget. <br />