Laserfiche WebLink
<br />To: Honorable Mayor Adams and Council <br />From: Julie Feier, City Manager <br />Date: May 15, 2009 <br />Subject: Weekly Update <br />The Council reviewed the City’s operating budget last night with the Departmental <br />Directors and approved a revised budget plan that will balance the budget without the <br />use of undesignated reserves. The current proposal outlined below, assumes a <br />property tax supported bond issue will fund two fire department pumpers needed within <br />the next three years. While this proposal balances the budget created by the economic <br />downturn, it will not solve the City’s ongoing financial issues. On May 21, Council will <br />meet to discuss the proposed capital budget and the adjusted five-year budget <br />projection adjusted for the current balanced budget proposal. <br />GENERAL FUND DEFICIT FROM DRAFT BUDGET -1,334,759 <br />Increased Revenue <br />Sales Tax Ballot Issue 240,000 <br />Natural Gas Revenue addition 200,000 <br />Rental Property Registration 175,000 <br />Reduced Expenditures <br />Medical Insurance Savings 105,000 <br />Pumper (change to property tax bond issue) 525,000 <br />Police Officer Reduction (2) 112,000 <br />Economic Development - Streetlights 120,000 <br />Economic Development - Administration 100,000 <br />242,241 <br />Possible Council Budget Additions <br />Marketing for City & Centennial Commons -20,000 <br />SURPLUS 222,241 <br />(77,000) <br />Fire Dispatching Contract <br />(15,000) <br />Required Minimum Wage Increase to Part-time Employees <br />SURPLUS 130,241 <br /> <br />