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<br />Miscellaneous <br />Minor cuts were made in areas in which little or no history of expenditures <br />occurred. This is an attempt to reduce unnecessary line it<;lns. Changes were <br />made, as shown on the attached budget adjustment worksheets. <br /> <br />Capital Improvements <br />A rough estimate (attached) of the city's annual capital requirements is proj ected <br />at over $600,000. The proposed capital outlay budget for 2003 is set at $470,424. <br />I would recommend that a street and water study be completed by the city <br />engineer in an effort to plan more efficiently. A street plan and a water <br />management plan would greatly aid in the development of a new five-year capital <br />improvement plan. The amount of$15,000 for each study was included in the <br />proposed 2003 budget in the Street Account and Water Fund, respectively. <br /> <br />Enterprise <br />Minor changes in this area, but more discussion is needed. The Water and Sewer <br />Funds include proposed budgets for capital projects, (i.e., replacement of water <br />tower, new well, pond work, etc.) These numbers will be adjusted as council <br />further prioritizes projects and determines the amount of fund balance to be <br />utilized. A fund balance analysis is being prepared for the benefit of the council <br />in making these decisions. <br /> <br />Respectfully Submitted: <br /> <br />Approved By; <br /> <br />Finance Director <br /> <br />Administrator <br />