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<br /> . .' <br /> .' CITY OF ARDEN HILLS <br /> . MEMORANDUM <br /> I - <br /> DATE: December 8, 1995 <br /> . <br /> TO: Brian Fritsinger, City Administrator <br /> I FROM: Terrance Post, City Accountant @ <br /> I SUBJECT: Adoution of Final 1996 Budl!"et (Resolution No. 95-87) <br /> The purpose of this memo is to document recommended changes to the proposed 1996 budget <br /> . from information previously reviewed by Council prior to the November 30, 1995 Truth in <br /> Taxation public hearing. The changes that are documented later in this memo arose from <br /> information received subsequent to the dissemination of the earlier budget information. <br /> . General Fund Overview <br /> 1995 1996 <br /> I Prior Est. Curro Est. Change Prior Current Change <br /> .- Revenue $2,271,453 $2,175,203 ($ 96,250) $2,310,092 $2,310,092 $-0- <br /> Expenditures 2.226.767 2.176.767 50.000 2.307.071 2.306.271 WID <br /> I Excess of Revenues over <br /> Expenditures $44.686 $(1.564) (46.250) $3.021 $3,821 $800 <br /> . Change Specifics <br /> 1. 1995 estimated revenue was reduced $96,250 to recognize the significant level of <br /> pending petitions and abatements reflected in the December tax settlement. <br /> I 2. The previously estimated 1995 operating transfer from the General Fund to the TCAAP <br /> Special Revenue Fund was changed to reflect the approximate level of legal and planning <br /> . professional services expected to be utilized in 1996. The operating transfer is currently <br /> estimated at $50,000. <br /> I 3. 1996 expenditures have been reduced $800 to reflect the reduction in the worker's <br /> compensation insurance premium. Similar reductions have also been made in ~e Water <br /> I and Sanitary Sewer utility funds. <br /> Recommendation <br /> I. If Council is supportive of these changes, Staff would ask Council to consider adopting <br /> Resolution No. 95-87 which sets the 1996 City Budget. <br /> . <br /> I <br /> , ,. -^-- , <br />