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CITY OF FALCON HEIGHTS, MINNESOTA <br />MANAGEMENT'S DISCUSSION AND ANALYSIS • <br />December 31, 2003 <br />ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES <br />The unemployment rate for Ramsey County in which the City of Falcon Heights resides, is <br />currently 4.4%, which is an increase from a rate of 4.2% a year ago. This compares favorably to <br />the state's average unemployment rate of 4.9% and the national average rate of 5.4%. <br />Inflationary trends in the region compare favorably to national indices. <br />All of these factors were considered in preparing the City of Falcon Heights' budget for the 2004 <br />fiscal year. <br />During the current fiscal year, unreserved fiznd balance in the general fund increased to <br />$ 1,080,800. The City of Falcon Heights has designated $ 686,824 of this amount for working <br />capital to aid in cash flow related to 2004 general fund expenditures. <br />REQUESTS FOR INFORMATION <br />This fmancial report is designed to provide a general overview of the City of Falcon Heights' <br />finances for all those with an interest in the government's finances. Questions concerning any of <br />the information provided in this report or requests for additional financial information should be <br />addressed to the Office of the Finance Director, 2077 W. Larpenteur Ave., City of Falcon • <br />Heights, MN 55113. <br /> <br />25 <br />