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%i <br />WWA I V1 5n, <br />� 1 <br />• Mayor and Council, <br />Neal Beets, City Manager <br />Chris Miller, Finance Director <br />November 26,2003 <br />Re: Summary of Approved Reductions to the 2004 Budget <br />Background <br />At the 11/24/03 Council Meeting, the Council agreed to a number of reductions to the 2004 <br />Budget. A summary of the approved reductions is shown below. <br />Total Approved Reductions $266,800 <br />The total approved reductions to the 2004 Budget, is $266,800; of which $181,800 is in the tax- <br />supported finds. The Council must still decide on whether to appropriate any monies for the <br />unfunded liability of the Fire Relief Pension. The requested amount from the Relief Association <br />is $105,000. <br />With the approved reductions listed above, the City will be relying on approximately $318,200 <br />of reserves in the general Fund for 2004. Any additional appropriation for the Fire Relief <br />Association or other programs will increase the use of reserves. <br />Attachment A <br />