Laserfiche WebLink
<br />If the City Council is interested in utilizing our existing fund balance to reduce the levy, staff <br />believes that we have a sufficient fund balance to do so. The Council may also utilize savings <br />from the 2020 budget for one-time costs such as updating the City of Little Canada zoning code. <br />Fund balance for the City of Little Canada as of 12/31/2019 was as follows: <br />Fund Balance Components 2019 Actual <br />Non-spendable Fund Balance $771,985 <br />Assigned Fund Balance 138,870 <br />Unassigned Fund Balance 2,210,615 <br />Total Fund Balance $3,121,470 <br /> <br />Unassigned Fund Balance as % of Next Year’s Budget 53.46% <br /> <br />We would like to acknowledge the contributions from City staff and members of the leadership <br />team for their contributions to the recommended budget. We would also like to recognize the time <br />and effort put forward by City Council members throughout the budget process. Together we will <br />continue to assure that the citizens of Little Canada get the best value for their tax dollar. <br /> <br /> <br /> <br />DRAFT DOCUMENT -9/3/2020 12