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22 <br />MEMORANDUM <br />DATE: April 2, 2008 <br />TO: Mayor and Councilmembers <br />FROM: Mike Mornson, City Manager <br />Roger Larson, Finance Director <br />ITEM: PUBLIC HEARING 2009 OPERATING BUDGET <br />The attached materials are a summary of the 2008 General Operating budget. Changes to <br />the 2008 budget included revising the accounting teclumiclues for maintenance and repair <br />of city owned vehicles. Maintenance and operation costs for Police, Fire and Public <br />Works vehicles are now accounted for separately, <br />Highlights of the 2008 budget include: <br />Represents <br />1) General Operating bund Budget $4,998,600 4.75% Increase <br />2) General Fund Levy $2,796,900 5.12% Increase <br />3) Average Taxable Market Valuation $ 265,000 Up from $258,000 <br />4) Average City Portion of Property Taxes $ 1,155.51 $30.33 Increase <br />As we move forward with 2009 budgeting process, the budget will be impacted by a <br />3.5% salary increase (negotiated with the three unions). A $50.00 increase per month in <br />the employer health insurance contribution and the escalation of fuel prices. <br />Additional considerations will also be discussed at the upcoming April 29t" work session. <br />A preview of some pending discussion items include: <br />1) Annual $5,000.00 recycling payment to Ramsey County. <br />2) New accounting standards — SAS (Statement Auditing Standards). <br />a. Affects on operating budget. <br />3) Tautges, Redpath (Final year of 3 year agreement). <br />4) Council feedback relating to the 2009 budget. <br />