11-12-24-WS - Laserfiche WebLink

Home Browse Search

ARDEN HILLS CITY COLINCIL WORK SESSION - NOVEMBER 12,2024 l4 Councilmember Monson doesn't think it's fair for Councilmember Holden to say she doesn't care what other people are saying. She worked really hard to get the levy down fromthe 20Yo. She is all ears. She strongly believes it should not be arbitrary. If anyone has math behind any preferred levy, she is all ears. She said underfunded levy costs were moved into the net changes and other general fund, does that reflect that we will not be underbudget? Finance Director Yang confirmed. At the September 23 meeting we had said, in order to have a balanced budget, we would need to add an additional 5192,000, or 15.5o/o. We have a balanced budget. Councilmember Monson asked if there is a deficit from2024 that needs to be made up in 2025. Finance Director Yang said there is not. Councilmember Holden said if we add in the additional union costs and the fire department costs, what are we giving up, for next year? Councilmember Fabel said he hears Councilmember Holden speaking in favor of a balanced budget. He favors that. He does not like deficit spending. He asked what the actual deficit is for 2024. Finance Director Yang said we are projected to be on budget. That means we would be at a $182,000 deficit. Mayor Grant clarified that coming in on budget is a couple thousand, one way or another. Finance Director Yang said it is $1,800. The2024 budget had a deficit of $182,000. Councilmember Fabel understands that. He wants to know if we are fully funding our expenses for 2024. Finance Director Yang said we have not because there is a deficit in the budget. We are projecting that we will be at budget, which is a deficit of $182,000. Mayor Grant said we deficit the budget S182,000 yet this year, we'll come in at $2,000 to budget. That means somehow, over the course of the year, we have spent $182,000 less or there was an offsetting revenue. Finance Director Yang clarified that for the 2024 budget, we had set the budget with a $ 182,000 deficit. That means expenditures exceed revenues by that amount. She is projecting that for 2024, we will be at a deficit of $ 183,000. That means we are close to being on budget with that deficit. Mayor Grant said we lowered the levy by S182,000 last year. When we are done this year, we are going to be on budget. Councilmember Holden said the question is did we spend an additional $182,000 in expenditures where we don't have revenue. Finance Director Yang confirmed.