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<br />City Council Budl!et Uvdate <br /> <br />From the summary of City Council Meeting Minutes of July 8, 2009: <br /> <br />COIUlcil met for a work session to discuss the budget following the regular meeting. The budget for 2009 is <br />tracking pretty well, but capital expense items for trail project engineering and the final payment for 2085 <br />Cedar Street may cause a deficit. <br /> <br />The 2010 budget has an initial deficit of $236,719. Revenues will be lower due to building permits dropping <br />substantially and a loss of $69,000 in Homestead Credit Aid. Expenses are higher due to planned seal <br />coating. To balance the budget, a number of things were discussed, including: No cost of living adjustments <br />for 2010, deferring capital expenses, cutting discretionary spending for programs (parks, Fete des Lacs), <br />evaluating purchasing, joint powers efforts with neighboring cities, etc. Another budget work session will be <br />held after the first meeting in August. Staff will explore some of these options and report back. <br />