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<br />( II: <br /> <br />, <br />, <br /> <br />-8 <br /> <br />~ <br />~ILLS <br /> <br />Request of City Council Action <br /> <br />Agenda Item #: <br />Council Meeting Date: <br />Prepared By: <br />Originating Department: <br /> <br />Staff Author: <br />Budgeted Amount: <br />Actual Amount: <br />Final Action Needed By: <br /> <br />8.A. <br />December 8. 2003 <br />AP and SB <br />Finance <br /> <br />AP and SB <br />SO.OO <br />SO.OO <br />December 8. 2003 <br /> <br />AP <br /> <br />Council Action Request: <br /> <br />Approve resolution 03-68 adopting the 2004 Budget <br /> <br />Staff Recommendation: <br /> <br />Approve resolution 03-68 adopting the 2004 Budget <br /> <br />Advisory Commission Action~ <br /> <br />o Planning Date <br />o PTRC Date <br /> <br />Action: <br />Action: <br /> <br />DReviewed <br />DReviewed <br /> <br />DApproved <br />DApproved <br /> <br />DDenied <br />DDenied <br /> <br />Supporting Documents: <br /> <br />. <br /> <br />o Memo/Letter: <br /> <br />IS] Resolution (No. 03-68) <br />o Ordinance (No. ) <br />o Engineering Reconunendation: <br /> <br />o Attorney Reconunendation: <br /> <br />o Other: <br /> <br />Financial Implications f Staff Comments: <br /> <br />Attached is an interim budget packet for the Council's review and approval. It is anticipated that afonnal budget <br />document will be prepared and distributed in early 2004. Subsequent to the last work session and Truth in Taxation <br />hearing, slaffhas attempted to follow up on the CounciFs questions and requests. At this point, the only outstanding <br />item is the status of the 1-35W Corridor Coalition membership which will be discussed earlier on the agenda. Two <br />new charts providing comparative data on other City's local tax rate and levy percentage increase have been <br />incorporated into the Truth in Taxation materials included in the interim budget packet. In addition, ] have <br />attempted to clarifY the slide dealing with local tax rates as well. Overall, the Council will note the follow <br />regarding the proposed 2004 budget: <br /> <br />. <br /> <br />~ General Fund revenues and expenditures are proposed at $2,9/7,931. <br />~ Expenditures for the overall budget are proposed at $9,338,350. Revenues ore proposed at $7,423,897 <br />which is less than projected expenditures. This is primarily due to draw down offund balance in the PlR <br />fund to pay for our portion of the maintenance facility. <br /> <br />Administration Comments: <br /> <br />N/A <br />