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<br />~ <br /> <br />. <br /> <br />e <br /> <br />e <br /> <br />CITY OF ARDEN HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />November 30 2000 <br /> <br />TO: <br /> <br />Mayor and City Council <br /> <br />@) <br /> <br />FROM: <br /> <br />Terrance R. Post, City Accountant <br /> <br />SUBJECT: <br /> <br />City Accountant Overview for the December 4, 2000 Truth In <br />Taxation Meeting <br /> <br />A summary presentation of budget materials for the proposed 200 I City Budget will be <br />presented on December 4, 2000. Substantive changes from the adopted preliminary budget have <br />occurred in two areas: <br /> <br />1. <br /> <br />2000 General Fund Surplus <br />Staffis currently estimating an approximate $150,000, 2000 General Fund <br />operating surplus. For purposes of this presentation, the operating surplus has <br />resulted in an additional operating transfer out to the Municipal Land and <br />Buildings Fund No. 408. <br /> <br />2. Reduced 2001 Pavement Management Program (PMP) Scope <br />The exclusion of the Ingerson neighborhood into project scope has caused a <br />decrease in PMP activities to reflect only a $50,000 sealcoating project and a <br />$150,000 transfer out to the Permanent Improvement Revolving (PIR) Fund No. <br />501 to fund future PMP reconstruction projects. <br /> <br />Conclusion <br />The staff presentation concludes with a recommendation that a levy increase of $49,392 (2.50%) <br />is necessary to present a balanced 200 I General Fund budget. <br />