2.0. SR 09-08-1993 - Laserfiche WebLink

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. . e Budget Work Session Memo September 2, 1993 Page 6 allocation into a reserve fund for 1998 pumper~ These two issues certainly merit additional City Council discu~sion. CITY COUNCIL ACTION It should be noted that the City Council does n~t have to produce a balanced budget by the 9/15 deadline. ~ll the City Council has to do is adopt the proposed maximu~ levy and budget. The City can always work on producin~ a balanced budget during September, October and November, prfor to the December public hearing. When levy limits were i* place, the City Council frequently balanced the budget in AuguSl with use of undesignated cash flow reserves and then mad$ additional revenue increases and expenditure cuts at a later w~rk session in order to have a balanced budget for the Dec,mber public hearing. ! i There are definitely other revenue increases and lexpenditure cuts that the City Council can consider in order to I balance the budget now or at a later date. I have discussed a ~uch longer list than what is included above with the Finance $irector and would be happy to share some of these ideas with the City Council, but, at this time, I would prefer to r~ceive input from the Council in order for the budget to morel accurately reflect the goals, objectives, and priorities ~f the City Council. . I Also, as previously noted, the City can certainly w4it on the adoption of a pay plan and evaluate how wage$ should be adjusted at any time later in this year or even learly into 1994. Staff certainly prefers to have the wage plan adopted as soon as possible, but this is not a requirement. By 9/15/93, the City Council must complete the following: - Set a December public hearing date - Adopt EDA tax levy resolution - Adopt HRA tax levy resolution - Approve the proposed maximum levy and budget for 1994 plus adopt the tax levy resolution which would be the maximum allowed by law when the budget is formally approved in December