4.6. SR 12-20-1999 - Laserfiche WebLink

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rei ---'\) ( ); TIll< Item #4.'. River MEMORANDUM TO: Mayor & City Council FROM: Lori Johnson, Finance Director '^~ DATE: December 20, 1999 SUBJECT: 1999 Budget Amendments . In December of each year, budget amendments are presented to the City Council for consideration. Budget amendments are intended to accomplish several things: 1.) incorporate budget changes the council has made throughout the year, 2.) allocate the contingency fund for cost of living adjustments and other personal service changes, 3.) recognize significant changes in revenues or expenditures, 4.) consider year-end budget requests by department heads. The budget amendments are not intended to reflect the actual year-end revenues and expenditures nor is the information presented an attempt to estimate what the change in fund balance will be on December 31. Because much of the information necessary to determine what the fund balance change will be is not available until the beginning of the following year, it is impossible to make an accurate estimate. Based on year to date revenues and expenditures, 1999 revenues will exceed expenditures due almost entirely to building activities. Attached is a copy of the draft budget amendments for consideration at Monday night's meeting. Please contact me if you have questions about the proposed amendments. The main item of discussion will be consideration of the additional budget requests not previously approved by the Council. Final budget amendment information will be distributed to the council on Monday evening. I do not anticipate that the final amendments will change significantly from the draft information included in your packet. Action Reauested The City Council is asked to consider the 1999 Budget Amendments. . 13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330. TDD & Phone: (612) 441-7420. Fax: (612) 441-7425