06-25-07 Minutes for Approval - Laserfiche WebLink

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ARDEN HILLS CITY COUNCIL WORK SESSION—MAY 21, 2007 7 . B. Review of 2008 Budget 1. 2008 Budget Schedule Finance Director Iverson stated the 2008 budget calendar must be approved by Council. She is looking for input from the members. Councilmember Holden recommended Council members let Finance Director Iverson know what changes they want. Finance Director Iverson stated in past years, this was not initiated until July. She commented this was not enough time for feedback; therefore, it is now being done two months earlier so feedback could be analyzed. Finance Director Iverson reported the budget is an estimate and a guideline to what the City thinks would happen. She stated that the Council approves items as they happened during the year and that she does a formal budget amendment at the end of the year. Finance Director Iverson commented that the Council has done very few amendments this year. She commented with the budget process, the format would include 2008 proposed budget,2007 budget, 2007 year-to-date, 2006 budget numbers, and 2005 budget numbers. • 2. 2008 Budget Goals and Guidelines Finance Director Iverson stated she is looking for feedback as to how Council and staff should proceed. Mayor Harpstead inquired as to the budgeting process. Finance Director Iverson replied with the types of expenses that need to be tracked and the different categories it would make sense to set this up. She explained that departments would provide a certain amount of detail. She stated the large budget categories would be listed out in a narrative format. Finance Director Iverson commented that a spreadsheet of line items and greater budget detail would be available. Discussion ensued. Finance Director Iverson referred Council and staff to the tax levy and asked what Council's comfort level is for the tax levy. She explained how the process works. Discussion ensued. Finance Director Iverson indicated that she would do an analysis of last year's tax • capacity. She reiterated the general tax levy guideline from Council is four percent.