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1998 Budget Memo <br />October 27, 1997 <br />Page 4 <br /> <br />o <br /> <br />PROPOSED 1998 BUDGET (Continued) <br />C. Possible Adjustments in the $4,977,200 Balanced Budget and <br /> Discussion on Budget Issues (Note that most of the major <br /> adjustments were made prior to the 8/25 budget meeting in <br /> order to present the Council with the budget gap of only <br /> $25,650) <br /> <br />Revenues...Miscellaneous increases in the amount <br />of $30,050 <br /> <br />ii. Expenditures... Decrease $46,950 <br /> <br />bo <br /> <br />Co <br /> <br />do <br /> <br />No contributions (Historical Socity, Rivers of <br />Hope, CMIF, etc.), or finance the <br />contributions in 1997, or finance the <br />contributions from the Council Contingency <br />Fund... a savings of $13,850 <br />general reductions in almost all the budgets <br />in supplies and other charges..$17,500 <br />shift the streets computer, hoist, and park <br />mower out of the general fund and into <br />equipment reserves... $13,600 <br />reduce the ice arena reserve by $2,000 <br /> <br />111. <br /> <br />Increase the Cash Flow Reserves by ???... <br />$25,500 was used to balance the budget in 1997... <br />Concerns exist over using a large amount of <br />reserves to balance the budget and the problems <br />that this approach can cause for the 1999 and <br />future budgets <br /> <br />iv. <br /> <br />Planned expenses from the 1998 City Council <br />Contingency Fund of $166,650 <br />a. police officer expenses... $57,850 <br />b. 3 percent salary adjustments... $45,000 <br />c. new employees (without the captain <br /> position)... $22,000 <br />d. balance left for miscellaneous or true Council <br /> Contingency expenses.., approximately <br /> $41,800 <br />e. review list of 1997 Council Contingency <br /> expenses <br /> <br /> <br />