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23 <br /> REQUEST FOR COUNCIL CONSIDERATION �n thorry <br /> ills e& <br /> Report Date: March 31, 2004 <br /> Meeting Date: April 13, 2004 Agenda Section: V, Public Hearings; A <br /> ITEM DESCRIPTION: Forecast/proposed 2005 City budget. <br /> MANAGER'S REVIEW: For the past 5 years, the City Council has held a Public <br /> Hearing in April to receive input on the next fiscal year's budget. The purpose of <br /> this early hearing is to receive input from those interested in participating in the <br /> process prior to development of the 2005 operating budget. <br /> The following are points of interest of the 2005 budget: <br /> Summary of Expenditures: <br /> Salaries/Wage adjustments 2% increase <br /> Health insurance contribution $30.00 increase per month <br /> Capital Equipment Funding:* <br /> Funding available in 2004 $165,000 <br /> Funding available in 2005 $165,000 <br /> * In previous years, Liquor Operations contributed $100,000 toward the <br /> funding of capital equipment. This amount has been reduced to reflect the <br /> change in the liquor stores and the funds will not be available for use in <br /> 2005. <br /> The opening of the new SAV I is scheduled for May/June of this year with <br /> projected 2004 profits from operations of $175,000. The amount of these <br /> profits will cover the 2004 General Fund transfer. <br /> Summary of Additional Expenditures: <br /> 1.) With the opening of Central Park, the City could incur increased costs that <br /> could require additional funds be allocated to Parks. Costs for <br /> maintenance, ballfield lights, and higher usage may impact the Parks <br /> budget. <br />