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515 Little Canada Road, Little Canada, MN 55117-1600 <br />(651) 766-4029 / FAX: (651) 766-4048 <br />www.cilittle-canada.mn.us <br />MEMORANDUM <br />TO: Mayor Blesener and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />Sharon Provos, Finance Director <br />DATE: November 7, 2014 <br />RE: 2015 Budget Update <br />Budget revisions to the General Fund: <br />• RFPs for 2015 auditing services came in lower than originally budgeted, <br />Positive impact to General Fund $3,850 <br />• 2015 Health Insurance increase may be lower than originally budgeted. <br />MAYOR <br />13111 Blesener <br />COUNCIL <br />Rick Montour <br />John Keis <br />Michael McGraw <br />Shelly Boss <br />ADMINISTRATOR <br />Joel R. 1Ianson <br />• Increased estimated 2014 insurance rebate revenue from $9,400 to $15,500. Decreased <br />the insurance rebate revenue for 2015 to $7,500. <br />Negative impact to 2015 General Fund budget of $1,900. <br />• Reallocated recording secretary for Parks and Recreation Committee. <br />Positive impact to General Fund $3,605 <br />Budget revisions to the General Capital Improvement Fund: <br />• Moved and increased the $4,000 budgeted for concrete repair at the fire department in <br />2014 to $7,500 in 2015. <br />Net negative impact to Capital Improvement Fund budget of $3,500. <br />Budget revisions to the Cable TV Fund; <br />• Increase in capital costs for the building improvements based on most recent estimate by <br />the project manager. <br />Negative impact to the Cable TV fund of $45,000 <br />1 <br />