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<br />. <br /> <br />- <br /> <br />. <br /> <br />e <br /> <br />. <br /> <br />. TCAAP revenues and expenditures are projected to decline due to the fact that the <br />planning line item, which comprises 60% of the total TCAAP budget, will be <br />significantly completed in 2004. <br />. Please note that the projected expenditures exceed projected revenue in certain <br />non-general fund budgets. The variance is primarily due to funding portions of <br />the construction projects from the fund balance. <br /> <br />The overall Proposed 2005 Budget is $8,739,234 with a staff complement of23.6 FTEs. <br />The general fund budget is proposed to be $3,239,930. The general fund budget is <br />approximately ten percent (10%) higher than the 2004 Adopted Budget. It should be <br />noted that approximately one half of this increase is due to the increase in insurance <br />costs, inflationary increases in the Public Safety (fire) and Police Protection budgets, new <br />staff position, and other operating inflationary increases. The other half of the budget <br />increase is the amount that will be set aside for future Public Safety projects/acquisitions <br />and a contribution to the Capital Improvement Funds. <br /> <br />Thc Truth-in-Taxation hearing is scheduled for December 6,2004, with a final budget <br />adoption date of December 13, 2004. <br /> <br />On September 15,2004, the City had transmitted a preliminary certification to Ramsey <br />County at 4%. A final levy must be certified prior to December 31, 2004. <br /> <br />If you have any questions with regards to this budget, please contact the City's Finance <br />Director/Treasurer, Murtuza Siddiqui at (651) 634-5132 or Sandy Berres at (651) 634- <br />5129. <br /> <br />Respectfully Submitted, <br /> <br />Michelle Wolfe, City Administrator <br />Murtuza Siddiqui, Finance Director/Treasurer <br />