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GRASS LAKE WATER MANAGEMENT ORGANIZATION <br />AGENDA ITEM <br />Date: :10/25/07 Prepared by: Mark Maloney Item: D-5 <br />Other Business <br />Item Description: Proposed 2008 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. <br />The 2007 year-end estimated fund balance for GLWMO, as reported by the City of Roseville (treasurer) <br />and allowing for unbilled RWMWD, consultant and City support services is approximately $180,000. <br />The fund balance gives GLWMO the ability to consider any implementation strategies that may come <br />from the Lake Owasso Study, or additional lake planning efforts (e.g. Snail Lake, Wabasso Lake) without <br />requiring dramatic increases in City funding requests for the next few years. <br />The 2008 GLWMO estimated budget based on the attached assumptions is $19,000; the fund balance is <br />technically adequate to fund the planned 2008 activities but it is recommended that the Cities provide <br />funding for the 2008 GLWMO budget - $9,500 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 2008 GLWMO Budget could be .taken at the next regularly scheduled <br />meeting, January 2008; however, the. City budgets would be finalized and adopted by that time. <br />