2020 Budget Book - Laserfiche WebLink

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Generally, the goal of the City is to maintain a minimum balance of 30% - 35% of the operating budget. Within the general operating fund is the accounting of the Police and Financial contractual services along with Fire Relief State Aid passed through to the Saint Anthony Fire Relief Association. Since the City receives payments for these services and State aid, there are no reserves deemed necessary for these expenditures. V. ANNUAL BUDGET The Annual Budget is the financial plan for funding the costs of City services, and infrastructure. The Annual Budget includes the General Fund, the HRA Fund, the Special Revenue Funds, the Debt Service Funds and the Long-Term Capital Funds Budgets. Enterprise operations are budgeted in separate Enterprise Funds. 1. The City Manager shall submit a budget in which appropriations shall not reasonably exceed the total of the estimated revenues and available fund balance. 2. The City will coordinate the Long-Term Capital Funds Budgets with the development of the operating budget. Operating costs associated with capital improvements will be projected for budget purposes and that budget will be approved by the Council. 3. The budget will provide for adequate operation, maintenance, replacement of City equipment and for their orderly replacement. 4. The impact on the operating budget from any new programs or activities being proposed should be minimized by providing funding with newly created revenues whenever possible. 5. The City will maintain a budgetary control system to help it adhere to the budget. 6. The City administration will prepare monthly reports comparing General Fund actual revenues and expenditures to the budgeted amounts. 7. The Annual budget will provide for the major goals to be achieved and the services and programs to be delivered for the level of funding provided. 8. When establishing operating expenses, Enterprise fund budgets shall be balanced with operating revenues. Profits from Utility based operations can be transfer to the Utility’s capital fund for the replacement costs of Utility’s buildings, equipment and infrastructure. The long-term transfer needs will be considered when establishing rates and charges for services. Profits from Liquor based operations can be transferred for General Fund operations. 9. Each year, the City Council will approve an Annual budget to establish the total budgeted expenditures. The City Manager will be allowed to reallocate budgeted expenditures between departments and programs as needed during the year. 73