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General Fund Budget <br /> Major Revenue Amendments <br /> Property Tax: was amended from $2,042,320 to 2,013,016. This reflects the loss in <br /> market value homestead credit. <br /> Met Council Grant: was amended from $0 to $10,000. This reflects actuals and <br /> represents funds received for completing the 2010 comprehensive plan. <br /> Building Permits: was amended from $120,000 to $80,000. This reflects actual activity. <br /> Recycling: was amended from $0 to $13,125. Recycling activities are now captured <br /> within the general fund and not in a separate fund. Recycling revenue will equal recycling <br /> expenditures. <br /> Transfers: was amended from $0 to $72,935. This reflects debt service funds that no <br /> longer are active. <br /> 308 - $47,701.17 (21st Ave Improvements) <br /> 324 - $7,462.29 (Parkview Developments) <br /> 345 - $17,771.62 (Peltier Preserve) <br /> Refunds: was amended from $0 to $150,000. This reflects time spent during <br /> construction of the CR 14, 09 and trail projects. These expenditures will be reimbursed by there <br /> respective construction funds <br /> Overall, budgeted revenues have increased from $2,600,320 to 2,671,444. <br /> Major Expenditure Amendments <br /> Administration Salary: was amended from $250,380 to 200,000. This savings is <br /> attributed to a reduction in the Finance Director's salary <br /> Financial Administration: was amended from $15,000 to $30,000. This increase is <br /> attributed to the State Audit. <br /> Street Projects: was not originally budgeted, but now has been included at $84,200. <br /> Land Closings: was not originally budgeted, but now has been included at $153,000. <br /> Overall, budgeted expenditures were increased from $2,600,320 to $2,706,686. <br /> Net Income <br /> Overall, we are anticipating a net loss for fiscal year 2009 of (35,242). <br /> 39 <br />