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<br />.. <br /> <br />CitvFestival <br />The City Festival budget includes an estimated $16,000 appropriation from the <br />City (a $1,000 increase over this year), plus a proposed $3,000 pass-through <br />donation from gambling funds. <br /> <br />Transfers Out <br />This line item includes a proposed $102,000 transfer to the 2004 Municipal Street <br />Debt Service Fund to cover the City's portion of the street project obligation. <br />This transfer will be made every year for 15 years, at which time the debt will be <br />satisfied. The remaining $45,000 is an estimate of the City's aimua1liability <br />towaId a new pollce building. The status of a new building is unknown at this <br />time. Unless the project begins to progress quickly, it is unlikely that there would <br />be a debt service payment in 2005. That being the case, Council could choose to <br />spend this money on other capital needs or reserve it for the next year's obligation <br />on the proposed project <br /> <br />Cauital Outlav <br />To separate current expenditures from capital expenditures in the General Fund, <br />all capital expenditures are listed at the end of the 2005 Expenditure Detail <br />Budget The amount of$133,138 is available in the 2005 propQsed budget for <br />capital needs. A preliminary Capital Improvement Plan intended to give guidance <br />on the use of this money is included with the proposed budget <br /> <br />I wish to thank the City Admini~trator, Public Works Director, City Engineer, City staff <br />and the City Council for their patience and help with the preparation of this draft budget. <br />I am available to answer any questions you may have regarding the proposed budget or <br />budget process. Thank you for your patience and understanding. <br /> <br />Respectfully Submitted: <br /> <br />Approved By: <br /> <br />Fiilance Director <br /> <br />Adminb:trator <br />