CCP 09-14-1992 - Laserfiche WebLink

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. , CITY OF ARDEN HILIB . ~ mTE: sept-Nn- 10, 1992 TO: Mayor, City eouncil and Dorothy Person, Clerk 1ldmini.strator ~:@ Terry Post, City 1\COClUIltant SUBJECT: Budqet Il\lpact of Information Received SUbseqUent to ReVisions FraIl BUdget worksession #3 (9/2/92!fem:)) Since Irr:f 9/2/92 Memo documenting revisions fram b.Jdget worksession #3 was issued, additional financial information has been received that :i:qlacts the preliminary I:.udget the City will be certifying to the County Auditor on 9/15/92. NEW DATA FRCM RAMSEY CDUNTY: 1- Fiscal Disoarities A total of $123,100 was previously estilnated, of Vlhich $115,000 was directed to the General Fund. 'Ihe up:lated County estilnate is $120,481, of Vlhich $112,250 will be receipted to the General Fund. 'Ihe net :i:qlact to the e General Fund is a revenue reduction of $2.750. 2. HAC1\. A total of $77,600 was previously estilnated, of \>oIhich $75,000 was directed to the General Fund. 'Ihe up:lated County estllnate is $79,149, of \>oIhich $73,745 will be receipted to the General Fund. 'Ihe net :i:qlact to the General F'UI'rl is a revenue reduction of $1.255. 3. Recvclinct sroRE Grant A total of $18,920 was previously estilnated. The up:lated County estilnate is $19,449. 'Ihis revision has no :i:qlact on the General Fund and only :i:qlacts the Recycling Enterprise Fund (#603). The 1993 proposed General Fund revenue has been reduced by a net $4005 as a result of the Fiscal Disparities and HAC1\. up:lates referred to above . As the General Fund was previously showing a $6 surplus for 1993 i these up:lates now put the General Fund into a $3999 deficit condition. ~ON 'ro ELIMIN1I'J':E 1993 PROrosED DEFICTr staff advises in=easing the 1993 Certified and Tax Levies by $4000 to over=me the projected deficit. 'Ihe :i:qlact of this change would be to show a 3.94% Certified Levy increase ($1,590,000 vs. $1,529,678) over e 1992 and a ....m Tax Levy increase ($1,390,370 vs. $1,385,696) over 1992.