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<br />. <br /> <br />. <br /> <br />. <br /> <br />3 <br />November 13, 2002 <br />Memorandum: Suggested Changes to Proposed 2003 Budget Adopted September 9, 2002 <br />(Resolution No. 02-45) <br /> <br />Impact of Items #1 throueh #4 <br />2003 General Fund Balance Impact: ($13,792) <br /> <br />The adopted proposed 2003 General Fund budget had a $1,052 surplus of revenues exceeding <br />expenditures. The impact of incorporating the changes referenced earlier in this memo would <br />result in a ($13,171) deficit. There are several options of solving this proposed budget deficit <br />situation. These options may include the following: <br /> <br />A. Reduce the transfer to Public Safety Capital Fund No. 412 from the earlier $15,000 to $0. <br /> <br />B. Reduce the operating transfer to Municipal Land and Buildings Fund No. 408 from the <br />earlier $183,750 to $170,000. <br /> <br />C. Revisit earlier operational budget decisions such as Day in the Park funding (currently at <br />$20,000), memberships, staffing, training, salaries, capital items, be less conservative on <br />reducing 2003 state aids, etc. <br /> <br />Staff requests direction from Council at the November 18, 2003 Work Session regarding their <br />preference for solving the current projected 2003 budget deficit status. <br />