1982 - Summary of City Government

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BUQGET INFOR�ATION R i City Finances. Under Minnesota Statutes 412, the City Manager is required to prepare and submit to the Council estimates for an annual budget. The proposed budge� is submitted to the Cauncil for their consideration at the first meeting in September and for adoption prior to the firs� meeting in October. Under State Law communit�es must certify their �ax levy require- ments to the Gounty Auditor no later than October 10. In addition, State Law stipu1ates that loca7 government's budgets mu5t be developed based an specific funds. The Rosev�lle budget includes 9 such funds, each of which is summarized briefly below: �enera7 Fund. This fund inc7udes expenditures for th� general operation o t e C ty services. Included in the fund are General Government, PubTic Safety, Public Works and Hea�th activities. Revenues to finance the fund are obtained from various sources, inc�uding praperty tax, licenses and pe rmits, intergovernmental revenue and other r�iscellaneous sources. Contin enc Fund. The contingency appropriation is set aside to meet emergency con it�ons w ic cannot be foreseen. Transfers from the Contingency Fund can oniy be accomplished 6y the Council and require a 4/5's vote. Recreation Fund. The Recreation Department expenditures for park maintenance, a min�strat�on and recreation pragrams are budgeted for under this fund. Generally the fund is financed from participant activity fees and gen�ral praperty taxes. � Permanent Im rovement Fund. The permanent improvement fund accounts for �he receipts an expena�tures necessary for construction, majar renovatfons or in- sta�lation of physica7 faci�ities of a permanent nature. Revenues in finance these improvement5 may be obtained from ather Ci�y funds, federal state aids, property tax, bonds, or any other typical source of municipai revenues. Debt Service F�nd. The debt serv�ce fund pravides for the payment of principa7 an interes� vn a bonds issued by the City. The principal sources of funding are special assessments, property tax and revenue fram public enterprise act- 1 V'I t 1 �5 . E ui ment Revolvinq. The purpose of this fund is to provide financing for the purc ase o eavy machfnery and vehicular type equipment. Depreciation charges are transferred to this fund fram departments using such e�u�pment. These charges are used only for the rep7acement of equipment as approved by the Council. Once this fund is properly financed it wi7� aliow far an orderly replacement of equip- ment and substantially reduce the fluctuating property tax requirements for such purchases. Li uor Fund. The municipal liquor system consists of one off sale outlet. A11 expen 7tures and revenues received from this operatian are �nc�uded in the fund. Any transfer of earnfngs �rom the fund must be approved by the Council. � -31�