CCP 09-14-1992 - Laserfiche WebLink

Home Browse Search

. CITY OF ARDEN JIILIS e MDDU\NOOM DATE: sept-""" 10, 1992 'XU: Mayor, City council and DOrothy Person, Clerk 1\dministrator EiQ(: @ Terry Post, City AccoUntant stlBJECl' : Budget Impact of Information Received SUbsequent to Revisions FraIl Budget WorkseSsion #3 (9/2/92 MEmJ) since my 912192 Memo documenting revisions from b.Jdget worksession #3 was issued, additional financial infonnation has been received that inpacts the preliminary Wdget the City will be certifying to the County Auditor on 9/15/92. NEW DATA FRCM RAMSEY COUNTY: 1. Fiscal Disparities A total of $123,100 was previously estimated, of wtUch $115,000 was directed to the General Fund. '!he upjated COUnty estimate is $120,481, of wtUch $112,250 will be receipted to the General Fund. '!he net inpact to the . General Fund is a revenue reduction of $2.750. 2. HACA A total of $77,600 was previously estimated, of which $75,000 was directed to the General Fund. '!he upjated CtRllTty estimate is $79,149, of wtUch $73,745 will be receipted to the General Fund. '!he net inpact to the General Furxl is a revenue reduction of $1.255. 3. Recvcli.no' SOJRE Grant A total of $18,920 was previously estimated. '!he upjated COUnty estimate is $19,449. '!his revision has no ilnpact on the General Furxl and only inpacts the Recycling Enterprise Fund (#603). '!he 1993 proposed General Fund revenue has been reduced by a net $4005 as a result of the Fiscal Disparities and HACA upjates referred to above. As the General Fund was previously showing a $6 surplus for 1993; these updates now put the General Furxl into a $3999 deficit condition. ~ON 'XU ELIMINATE 1993 poorosED DEFICIT staff advises increasing the 1993 certified and Tax levies by $4000 to overcome the projected deficit. '!he inpact of this change would be to show a 3.94% certified levy increase ($1,590,000 vs. $1,529,678) over . 1992 and a .34% Tax levy increase ($1,390,370 vs. $1,385,696) over 1992.