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• MEMORANDUM <br /> DATE: September 18 , 1987 <br /> TO: Mayor and Councilmembers <br /> FROM: David M. . Childs, City Manager <br /> ITEM: SUMMARY DISCUSSION OF 1988 CITY BUDGET <br /> REVENUES, GENERAL FUND <br /> The new levy limits, coupled with the $150 , 000 levy variance expected <br /> to be approved by the state, will be $1 ,283 , 150 for 1988 . This- is <br /> about $20 ,000 more than the proposed levy of $1 ,263 , 150 , which is <br /> about $300,000 higher than last year ' s levy. In addition to the <br /> variance received by the City due to using reserve funds to off-set <br /> lower liquor operation profits , the increase is also due to addition- <br /> al housing units added to St. Anthony' s count. These additional <br /> units (primarily the Kenzington, Walker on Kenzie and Chandler Place) <br /> account for most of the rest of the increase in the levy limit. In <br /> addition, it is interesting to note that even though most of the <br /> special levies previously allowed are not allowed for 1988 , those <br /> special levies which the City used ' in 1987 are folded into the <br /> • formula for 1988. It appears that the City made the right decision <br /> to use the special levies for capital equipment, excess insurance <br /> premium costs in conjunction with levying to our limit last year. <br /> Had we not done that , the City would have been in a much more <br /> difficult position this year. <br /> Licenses , permits and intergovernmental revenues are relatively <br /> unchanged. Carol Johnson will be recommending some fee increases to <br /> keep. pace with what other cities are charging. <br /> Municipal court fines are projected to be $135 ,000 which is about <br /> $35 , 000 higher than last year ' s budget. <br /> Miscellaneous earnings , including interest earnings , will also -be <br /> pretty much unchanged. <br /> I have submitted a budget which shows no Federal Revenue Sharing <br /> income and shows the Liquor Operation to transfer- $150 ,000 to the <br /> General Fund. This is down from last year ' s budget of $300 ,000 , but <br /> is much more realistic and may still be a little high. <br /> Summary: I project net revenues for the General Fund- of $1 , 840 , 000 <br /> which is an increase of $55 , 500 from 1987 or a 3 . 1% in- <br /> crease. This does assume that the City levies to its <br /> levy limit. <br /> 0 EXPENDITURES, GENERAL FUND <br />