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December 11, 2007 Honorable Mayor and City Council City of St. Anthony, Minnesota Dear Mayor and Councilmembers: Management Letter Herein, I submit for Council consideration the 2008 general operating budget. Included in this document are the 2008 budgets for the General Fund, the 5 -Year Capital Equipment Plan, the Recycling Fund, the Dare Fund, the Fire Education Fund, the H.R.A. Fund, the Park Improvement Fund, the Road Improvement Fund, the Community Service Fund, the Water/Sewer Fund and Liquor Operations. Also, included in the budget are the goals set by the Mayor, City Council and Staff. In addition, the policy document (Financial Management Plan), which was previously reviewed and adopted by the City Council, is part of the budgeting text. The objective of preparing the 2008 budget is to maintain or improve the existing level of City services and programs with the use of financially conservative budgeting. Overall, the proposed 2008 general operating budget represents an increase of $226,700 from last year's budgeted amount. The 5.12% increase in the proposed 2008 operating budget, includes a 3.5% salary increase in wages, an additional $65.00 per month in the employer health insurance contribution, the hiring of one additional full-time Police Officer for the Police Department and inflationary increases for such items motor fuel, utility costs for City buildings, general supplies and maintenance/repair. Genera! Oyeratinga Futi For year 2008, Staff is proposing a General Operating Budget in the amount of $4,998,600, compared to last year's budget of $4,771,900, reflecting a 4.75% increase. Overall, the personal services portion of the Budget continues to be the largest segment and comprises 70% of the General Fund Operating Budget. The increase in the 2008 operating budget is comprised of the 3.5% salary increase (negotiated with the 3 unions and non-union personnel), the $65.00 increase in employer health insurance costs and inflationary adjustments for motor fuel, utility costs for City buildings, supplies and maintenance/repair items are factors that increased operating costs for 2008. Also included in the budget is the hiring of one additional full-time Police Officer dedicated to St. Anthony that will benefit our Community. The need for increased visibility and service is a natural progression for St. Anthony due the increase in population associated with the Silver Lake Village re -development (estimated by Met Council to be at 8,361).