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MAYOR <br />Bill Biesener <br />COUNCIL <br />Rick Montour <br />John Keis <br />Michael McGraw <br />Shelly Boss <br />515 Little Canada Road, Little Canada, MN 55117 -1600 ADMINISTRATOR <br />(651) 766 -4029 / FAX: (651) 766 -4048 Joel R. Hanson <br />www. ci.little- canada. inn. us <br />MEMORANDUM <br />TO: Mayor Blesener and Members of the City Council <br />FROM: Sharon Provos, Finance Director <br />DATE: October 19, 2012 <br />RE: 2013 Budget Update <br />The notable 2012 updates to the General Fund: <br />• Added payments for interim financial assistance. <br />Negative impact to General Fund $4,125 and same amounts to Water & Sewer <br />funds. <br />• Added transfer from General Fund to General Capital Improvement Fund. <br />Negative impact to General Fund $373,660. <br />NOTE: This affects fund balance and is not a direct impact to proposed 2013 <br />budget other than loss of interest earnings on transferred balance. <br />The 2013 Budget revisions to the General Fund: <br />• 2013 Health Insurance costs reduced to only a 2% increase. <br />Positive impact to General Fund $3,590 and same amounts to Water & Sewer <br />funds. <br />• Small tools that have been budgeted for in the General Capital Improvement Fund have <br />been moved to the General Fund as an operating cost. <br />Negative impact to General Fund $2,125. <br />• Added transfer of LGA from General Fund to General Capital Improvement Fund. <br />Negative impact to General Fund $36,062. <br />