09-30-87 Council Workshop Minutes

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MINUTES City Council Sept. 30, 1987 The City Auditor• submitted to the Council two repor•ts, the fir~st addr•essing Gener•al Fund Budget infor•mation, bonded debt tax levies, total City tax levies, and the establishment of some additional accounting funds. The second r•epor•t addr~essed the capital budget. The Auditor extensively reviewed the first report and presented a General Fund budget review, a review of the City's revenue budget as well as expenditur•es budget noting a~25,789 amount which is unallocated in the expenditur•es budget. The Auditor• r•eviewed bonded debt tax levies including str•ategies and plans for~ the var•ious bond issues, histor•ical tax levies by bond issue, scheduled ver•sus estimated tax levies, estimated tax levies by bond issue, and actual and estimated mill r•ates by bond issue. The Auditor• r•epor•ted that the Council has pr•eviously indicated that it would like to see a mill r~ate of under• 20 mills for• 1988 and in or•der• to accomplish this, the total cer•tified tax levy for• the City must be apprroximately $1,275,000. Next r•eviewedwer~estr~ategies and plans for• the City's total tax levies, the histor•y of the City's pr•oper•ty tax levies, pr~ojected pr~oper•ty tax levies, gener~al pur•pose r•evenue base, and assessed valuation, tax levies and mill r~ates. The Auditor• then pr~esented the Council with pr•oposed r~esolutions cr~eating and defining additional accounting funds. These funds include a Gener•al Capital Impr•ovement Fund, Str~eet Over•lay Fund, Closed Bond Fund, Par•k Development Fund, Par•k Acquisition Fund, and establishing a Gener•al Fund r•eser~ve and/or~ designation. Council discussed in detail the Par•k Development Fund and P9rs. Scalze's feelings that this fund should be used only for~ monies donated fr~om char•itable gambling, with capital outlay monies set aside in another• fund. Voto noted that he was previously instr•ucted by the Council to mix the two funds. The Auditor~ pr•esented the Council with a statement outlining Gener~al Fund balances, with total designated funds at $685,884, undesignated balances at $240,590 for• a total fund balance of $926,474. Council r~equested that the City Auditor• pr~epar~e a pr•ess r•elease explaining the City's mill r~ate and the fact that the mill r•ate has been decr•easing over~ the last 4 year•s. Next the City Auditor• r•eviewed the Capital Budget document, specifically analysis infor•mation and str•ategy and plan and histor•ical budgetar•y data by var~ious funds. Page -3-