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TO: Mayor & Council <br /> • FROM: Don Brager, Finance Director c�— <br /> DATE: October 28, 1993 <br /> DATE: Seventh Draft - 1994 Budget <br /> Attached for your consideration is the seventh draft of the 1994 Budget. <br /> The Budget needs to be finalized so that staff may prepare material for <br /> the newsletter, budget video, and the budget hearing. <br /> Water Utility <br /> The narrative accompanying the Water Utility Budget describes the <br /> budget in detail. A rate increase of five cents is recommended. If <br /> approved the 1994 rate would be $1 .15 per 1,000 gallons. <br /> Sewer Utility <br /> The narrative accompanying the Sewer Utility Budget describes the <br /> budget in detail. Staff recommends no rate increase. <br /> Gas/Electric Franchise Fee Fund <br /> Revenues of $176,766 are anticipated for 1994. Council has directed <br /> that $125,312 of fees be transferred to the General Fund in 1994. <br /> Street Light Utility <br /> Tim Cruikshank has revised this budget per Council direction given at <br /> the last Work Session. A separate memo from time is included in your <br /> packet. <br /> Fire Improvement Bonds <br /> The City's share of debt service on the Fire Improvement Bonds is <br /> $100,417 for 1994. The City's share is raised by levying a property tax. <br /> Surface Water Management <br /> The surface water utility ordinance was recently approved. Rates <br /> approved will raise $114,808 in 1994. Expenditures include street <br /> sweeping, which was budgeted previously. The balance was put in <br /> • capital outlay pending Council approval of projects to be undertaken. <br />