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tkiver <br /> <br />MEMORANDUM <br /> <br />Item# 5.5. <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor and City Council <br /> <br />Pat Klaers, City Administr~/~ <br /> <br />September 8, 2003 ,~ <br /> <br />Discuss 2004 Budget and Tax Levy Resolutions <br /> <br />At the August 25, 2003 budget worksession, the City Council reviewed some capital improvement <br />program (CIP) projects and the 2004 general fund budget proposal. Additionally, the supplemental <br />budget pages were briefly noted and the tax levy resolution received some discussion. <br /> <br />Please refer to the August 25, 2003 budget memo and budget packet for details on the 2004 <br />proposals as nothing has changed since the August 25 worksession. <br /> <br />Key points from the August 25 meeting include: consensus to move forward with the ice arena barn <br />floor replacement project; consensus to move forward with the fire truck purchase and to look at <br />doing this purchase over a two-year period; to include four additional positions in the 2004 budget; <br />to provide for "typical" wage adjustments; to have staff evaluate the city pay plan both internally and <br />in relationship to similar communities; to include in the tax levy 60% of the LGA cuts; and to <br />include as a special tax levy (outside of the levy limits) partial payment for the city pavement <br />rehabilitation program. The City Council did not include any host fee revenues in the general fund <br />budget, although it xvas indicated that this may very well be the funding source to balance the <br />budget. <br /> <br />Past budgets have been typically balanced by way of making numerous smaller adjustments in both <br />revenues and expenditures. Most of these type of adjustments have already been made in the draft <br />2004 budget. Accordingly, this 2004 budget will need to be balanced based on removing larger <br />expenses or adding significant revenues. By this I mean the host fee, in and of itself, could balance <br />the budget; on the other hand, if two positions were removed from the proposed budget then over <br />half of the budget gap would be eliminated. The budget gap currently stands at $145,500. A number <br />of options to balance the 2004 budget were presented at the end of the August 25, 2003 budget <br /> <br />Even though the budget will likely' be balanced with the movement of large amounts of monies, <br />either to the revenues or out of expenditures, it does not mean that everything in the proposed <br /> <br /> <br />