07-06-1993 WS - Laserfiche WebLink

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STAFF REPORT JULY 1, 1993 PAGE TWO • Other Revenues are 51.89% less for 1994. That figure is misleading because at a previous budget work session it was decided to present the first draft of the budget without any franchise fee revenues. The other major account in this category is Transfers. The budgeted 1994 Transfers are 22.70% less since the transfer from the Special Projects Fund, which is dedicated to funding capital outlay from interest earnings, is lower due to very low interest rates on investments that the City is permitted by State Law. • Appropriation of Fund Balance is 69.71% lower than the amount budgeted for 1993 because the 1993 budget included the "windfall" received as a result of a one time increase in LGA payments. The 1994 budget reflects the traditional amounts carried forward from the previous year for a squad car and elections. • Total 1994 Revenues are 4.07% less than 1993 Estimated Revenues. EXPENDITURES • Total Expenditures for the first draft of $3,232,054 are 8.54% greater than 1993 expenditures. Proposed expenditures are $375,574 greater than Estimated Revenues. This is typical of the first budget draft. The remainder of this memorandum will present issues which Council and Staff must address during the budget process to arrive at a balanced budget. • The City Council budget is 15.45% greater than 1993 since an increase in salaries of the Mayor and Councilmembers has been budgeted. A $50 per month increase would take effect in the budget year following the next municipal election. • In Administration the 1994 budget has increased by 41.71% mainly as a consequence of budgeting a new position: Economic Development Coordinator($43,902). Part of the cost of this position may be offset by the administrative fee of $16,925 which the City has been receiving from the Sysco Project for several years. • Planning & Engineering has an initial budget that is 12.15% greater than the previous year. This is largely because the new position of Housing Inspector($36,636) has been budgeted. Another factor is the budgeting of more professional engineering services since the City no longer has an in- house engineer.