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kern #2 <br /> <br />City of <br /> <br />River <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />Mayor & City Council <br /> <br />Pat Klaers, City Administrator <br /> <br />September 6, 2000 <br /> <br />SUBJECT: 2001 Budget <br /> <br />Attachments <br />· General Fund Revenues - changes from 8/7 <br />· General Fund Expenditures - changes from 8/7 <br />· Personal Services - changes from 8/7 <br />· Capital Outlay and Transfers Out - changes from 8/7 <br />· 2001 Budget - changes from 8/7 <br />· 2001 Budget Worksheet <br />· 2001 General Fund Budget <br />· Levy Samples <br /> <br />The Net Tax Capacity (NTC) information was received from the county on <br />Wednesday afternoon and the news is good. The city NTC grew by 10.46 <br />percent for year payable 2001...more on that later. <br /> <br />At the scheduled 8/28/00 budget meeting, staff was prepared to distribute a <br />number of handouts on some suggested budget adjustments in order to close <br />the budget gap. However, the worksession was delayed until Wednesday, <br />September 6, so this material was never distributed. This information is <br />attached to this memo and should be self-explanatory. <br /> <br />In a nutshell, staff is suggesting raising General Fund revenues by $141,300 <br />and cutting expenses by $90,450 for a total budget adjustment of $231,750. <br />This reduces the August 7 budget gap of $468,900 to a gap of $237,150. The <br />proposed adjustments are open for discussion and the council should feel free <br />to make additional changes or to not make some of the suggested changes. <br />Most everything is pretty easy to follow, however the capital outlay <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone (763) 441-7420 · Fax (763) 441-7425 <br /> <br /> <br />