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Date: IO/26/06 Prepared by: Mark Maloney Item:. D-3 <br />Other. Business <br />Item Description: Proposed 2007 Budget <br />Annually, the GLWMO Board reviews and approves a budget for the upcoming year. The budget is <br />organized to reflect anticipated costs for activities by City support staff, Ramsey-Washington Metro <br />Watershed District personnel and out-sourced consultants (in this case, Barr Engineering, for the Lake <br />Owasso Study). <br />The 2006 year-end estimated fund balance for GLWMO, as reported by the City of Roseville (treasurer) <br />and allowing for unbilled RWMWD and City services, is approximately $225,000. The fund balance <br />gives GLWMO the ability to consider additional strategic lake planning efforts (e.g. Snail Lake; Wabasso <br />Lake) in the future without requiring drastic changes in City funding. <br />The 2007 GLWMO estimated budget is $97,500; the fund balance is technically adequate to fund the <br />planned 2007 activities but it is recommended thatxhe Cities provide funding for $40,000 of the 2007 <br />GLWMO budget - $20,000 each for Roseville and Shoreview). <br />RECOMMENDED BOARD ACTION:. <br />The Board should consider this proposed budget with any. necessary modifications/additions. If necessary, <br />final action on the proposed 2007 GLWMO Budget could be taken at the next regularly scheduled <br />meeting, January 2007; however, the City budgets would be finalized and adopted by that time. <br />