CCP 12-15-1997 - Laserfiche WebLink

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I . , FILE I CITY OF ARDEN HILLS .- MEMORANDUM I DATE: December 15, 1997 TO: Mayor and City Council I FROM: Terrance R. Post, City Accountant @ I SUBJECT: Resolution #97-61, Adoption of 1998 Budget I Background On September 8, 1997, Council adopted Resolution #97-44, which approved a preliminary 1998 budget I for use in the preparation of Truth in Taxation statements. These statements were mailed to property owners in mid.November by Ramsey County, and were the basis upon which the City's December 4, 1997 Truth in Taxation public hearing was held. Since September 8, 1997, a number of events and better I information has allowed staff to refine the preliminary 1998 budget numbers into the attached 1998 proposed budget. Overview of Cbanl'es from Preliminary to Proposed Ie 1. The 1998 Pavement Management Program (PMP) General Fund costs of $196,200 (preliminary figures were $192,000) are now consistent with the scope discussed at the December 8, 1997 I Council meeting. 2. Planning Consultant fees have increased $8,000 to reflect possible scope change orders on the I Comprehensive Plan update project. The $8,000 grant from the Met Council to fund this activity is also reflected as a 1998 General Fund revenue source. . 3. A new Debt Service Fund has been created to reflect a planned $3,050,000 bond issuance for Gateway public improvements. Earlier, it was assumed that this issuance would occur in 1997. I Supporting Budget Schedules Four attached schedules are included with this memorandum to further document the 1998 proposed budget. They include: I Attachment A - All Funds Expenditures Attachment B - General Fund Expenditures, Revenues & Levy I Attachment C - Estimated Ending Investment Balance by Fund Attachment D . Proposed Capital Budget Summary . Recommendation Staff recommends that Council consider adopting Resolution #97-61, adopting the 1998 Budget. I- Enclosures I