Annual_Budget_1991_001 - Laserfiche WebLink

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. A request for purchase of new (additional) capital equipment must be supported by a net present value analysis demonstrating the present value of the benefits of the equipment is greater than the cost of the equipment over the expected life of the equipment. The City has become more dependent on local government aid in recent years as the state has controlled local levies and replaced them with increased local government aid. This has replaced a more stable revenue source (property taxes) with a less stable one. One way to deal with this instability is to develop a budget reserve that can be used if local government aid is significantly reduced without adequate notice. The City will maintain a budgetary control system to ensure adherence to the budget. . The Finance Department will prepare regular reports comparing actual expenditures to hudgeted amounts as part of the budgetary control system. . Department heads shall be primarily responsible for maintaining expenditures within approved budget guide- lines, consistent with approved financial policies. IMPLEMENTATION 1. The 1990 Budget allocates administrative and general govern- ment costs to all revenue generating departments and funds. ' These charges result in a transfer of revenue to the general fund operating budget. 2. The transfer of Public Works overhead expenses related to street construction projects, from a special assessment fund ' to the general fund, has been changed from a funding source for operating expenses to a funding source for capital expen- ditures. 3. The following budget compliance graph shows the actual expen- ditures have not exceeded budgeted expenditures during the '' past ten years. �, BUDGET COMPLIANCE GENERAL AND SPECIAL REVENUE FUNDS TAoaa¢Rtll 58000 - � � . � ��\ ��\�\.�� � � � � � � - � € a � ' � : ; � � 111 � � � � � ; �� t � i t g � j�2 � s Y F � � y Y � D—Z