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Item No. 1 <br />Meeting Date: September 2, 2008 <br />Type of Business: Work Session <br />City Administrator Review: ______ <br /> <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Review General Fund Budget and Tax Levy <br /> <br /> <br />The attached 2009 Levy and General fund budget have been updated to reflect additional <br />information received from the state on our levy limits for 2009. Staff has included changes to <br />the Community Development budget to provide for additional code enforcement over the <br />summer months and also a PT building inspector position at 16 hours per week. The Parks <br />vehicle was downgraded from a van to a pick-up. A small increase in the cost of salt was added <br />for Snow and Ice control. Franchise fee revenue was adjusted ($19,375) to reflect the lower <br />rate. <br /> <br />With the above changes the General fund imbalance is $259,258, this is down from the original <br />amount of $300,412. The budget does not include a transfer from the Levy Reduction fund. <br />The City can also utilize an additional special levy which would add up to $122,088. Our <br />present total levy for the General Fund and the 2004 Debt Service Fund is $3,761,973, a <br />decrease of $76,361 or 1.99% over 2008. At the September 8th Council meeting, the City will <br />need to certify a preliminary tax levy and General Fund budget. Once the levy is set, no <br />increase can occur but it can be decreased. <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br />Mark Beer