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<br />. <br /> <br />ATTACHMENT FOR THE OFFICIAL COpy OF THE AUGUST 31, 1992 <br />BUDGET WORKSESSION MEETING MINUTES - THREE PAGES <br /> <br />CITY OF ARDEN HILLS <br /> <br />.. <br /> <br />~ <br /> <br />DATE : <br /> <br />8ept~hP~ 10, 1992 <br />Mayor, City COUncil and Dorothy Person, Clerk 1\dmi.ni.strator <br /> <br />TO: <br /> <br />~:@ <br /> <br />Terry Post, city Acoountant <br /> <br />Budget Impact of Infonnation Received SUbsequent to <br />Revisions Fran Budget WOrksession #3 (9/2/92 Memo) <br /> <br />SUBJECT: <br /> <br />. <br /> <br />Since my 9/2/92 Memo documenting revisions from b.ldget worksession #3 <br />was issued, additional financial information has been received that <br />impacts the preliminary wdget the City will be certifying to the County <br />Auditor on 9/15/92. <br /> <br />NEW DATA FRCM RAMSEY CXlUNTY: <br />1. Fiscal Disoarities <br />A total of $123,100 was previously estimated, of which <br />$115,000 was directed to the General Fun:i. The updated <br />County estimate is $120,481, of \Yhich $112,250 will be <br />receipted to the General Fund. The net impact to the <br />General Fun:i is a revenue reduction of $2.750. <br /> <br />2 . HACA <br />A total of $77,600 was previously estimated, of which <br />$75,000 was directed to the General Fun:i. The updated <br />County estimate is $79,149, of \Yhich $73,745 will be <br />receipted to the General Fund. The net impact to the <br />General Fun:i is a revenue reduction of $1.255. <br /> <br />3. Recvcli.nq sroRE Grant <br />A total of $18,920 was previously estimated. The updated <br />County estimate is $19,449. 'Ibis revision has no impact <br />on the General Fun:i and only impacts the Recycling <br />Enterprise Fun:i (#603). <br /> <br />'!he 1993 proposed General Fun:i revenue has been reduced by a net $4005 <br />as a result of the Fiscal Disparities and HAC/\. updates referred to <br />above. As the General Fun:i was previously showing a $6 surplus for <br />1993; these updates ncM put the General Fun:i into a $3999 deficit <br />con::lition. <br /> <br />REXXMMElIDATION 'IO ELIMINATE 1993 PROpos.ED DEFICIT <br /> <br />. <br /> <br />staff advises increasing the 1993 Certified and Tax Levies by $4000 to <br />overcome the projected deficit. The impact of this change would be to <br />show a 3.94% Certified Levy increase ($1,590,000 vs. $1,529,678) over <br />1992 and a .34% Tax Levy increase ($1,390,370 vs. $1, 385, 696) over 19920 <br />