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<br />, <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />, <br /> <br />~ <br />~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br />TO: <br /> <br />Agenda Item 3.A. <br /> <br />November 12,2003 <br /> <br />Mayor and City Council <br />Michelle Wolfe, City Administrator <br /> <br />~ <br /> <br />FROM: <br />SUBJECT: <br />ENCLOSURES: <br /> <br />Aaron Parrish, Director of Community Services <br /> <br />2004 Bndget Update and Discussion <br /> <br />1. July 27, 2003 Special City Council Work Session Power Point <br />Preseutation <br />2. 2004 Budget: Revenue Summary and Detail <br />3. 2004 Budget: Expenditure Summary and Detail <br />4. 2004 BUdget: Capital Improvement Program <br />5. 2004.2008 Capital Improvemeut Program <br />6. 2004 Budget: Estimated Ending Cash and Investment Balances by Fund <br /> <br />Overview <br /> <br />At a Special Work Session in July, the Council was presented with a draft of the proposed 2004 <br />budget. A copy of the presentation provided the Council that evening is attached for your <br />reference. The presentation is helpful in outlining the significant assumptions that went into <br />creating the proposed 2004 budget. <br /> <br />For purposes ofthis Work Session, staff would to focus on two things: <br /> <br />1. Take the opportunity to update the Council on changes made to the proposed budget <br />based on more current information. These will be outlined below. <br /> <br />2. Provide the Council with an opportunity to ask questions and discuss any budgetary <br />issues and/or concerns prior to the December 1, 2003 Truth in Taxation Hearing. <br /> <br />Since the presentation to the Council in July, the Council will note the following changes to the <br />2004 proposed budget: <br /> <br />1. The $1200 fee associated with flexible spending account administration has been <br />incorporated back into the budget. At one point staff had contemplated doing this in- <br />house, but after further review have determined that it is more appropriate to continue <br />contracting for this service. <br /> <br />2. Additional personnel costs reflecting the position reclassification from City <br />Accountant/Treasurer to Finance Director have been incorporated into the budget. <br />Previously, the position was budgeted for $54,384. With the amended compensation plan <br />for the position, it is currently budgeted at $66,216. However, this may change <br />depending on what salary the position is ultimately hired at. <br />