7.0. SR 08-28-2000 - Laserfiche WebLink

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qity of iver M£MOP. ANDUM Item//7. TO: Mayor & City Council FROM: Pat Klaers, City Admini~at_or DATE: August 28, 2000 SUBJECT: Budget Worksession As time allows, and assuming the city receives information from the county on Monday regarding our net tax capacity (NTC), staff will be prepared to discuss with the City Council the current status of the proposed 2001 budget. The county auditor has advised us that this NTC information will not be available until either late Monday or else the first part of next week. At this point we should plan for a special budget worksession the week of September 5, 2000, in order to reach a consensus on the budget. Final action on the proposed maximum tax levy amount is scheduled to take place at the September 11, 2000, City Council meeting. Per council direction, staff has been evaluating some options for closing the budget gap. These options include: · Purchasing some requested capital outlay items in 2000 by way of using excess 2000 revenues (growth related revenues) · Reducing the reliance on equipment certificates and therefore freeing up this tax levy money for General Fund expenditures · Delaying the hiring of some requested personnel · Some cuts in a few departmental budgets · Increasing some revenue projections to either the 1999 actual level or to the 2000 budgeted level. In addition to these types of changes there will be a few other budget adjustments, both in expenditures and revenues, which need to be discussed with the City Council. The budget for next year is the time to reduce our dependence on equipment certificates as there are no levy limits. The plan is to move these expenditures into the General Fund. We may be forced to use equipment certificates to fund capital expenditures in the future, but at this point we don't know if that will be the case. 13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425