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Item No: 7.A Meeting Date: December 7, 2009 Type of Business: Truth in Taxation Administrator Review: _____ City of Mounds View Staff Report To: Honorable Mayor and City Council From: Mark Beer, Finance Director Item Title/Subject: Truth in Taxation and All Funds Budgets for 2011 Attached is the Truth in Taxation presentation and the budgets for all funds (General, Special Revenue, Debt Service, Capital Projects, and Enterprise) for your consideration. The Council has had an opportunity to review all the funds at different times during the budget process. The General Fund has been modified to reflect the anticipated appointment of a new sergeant and the anticipated hire of a new patrol officer. The previous budget had the sergeant’s pay at the top step pending appointment and that will not be the step that the new sergeant will start at. The new patrol officer will also start at a lower salary than the officer he/she will replace. This will have a positive effect of about $35,000 on the budget. There will be additional savings when the Deputy Chief position is filled and the related staff movements are included. The General Fund was also adjusted to reflect the capital equipment purchases that were presented to the Council by the Public Works supervisor. Any capital item changes are off-set by a transfer-in from the Equipment Fund and thus have no impact on the General Fund balance. There were additional capital items added to the Community Center Fund and the Special Projects Fund for roof repairs as a result of the comprehensive roof evaluation from our consultant and replacement of banquet center chairs. Looking forward to the 2012/2013 state budget, projections show a 5 to 6 billion deficit already for that period. This will affect our state aid for 2011. The 2011 budget was constructed with no LGA included. Staff welcomes any comments or questions. Respectfully Submitted, Mark Beer