6.0. SR 09-06-1994 - Laserfiche WebLink

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. purchased now, and items that should be cut. The above list is just some suggestions and is not all inclusive. However, the above CIP discussed items will reduce the budget gap by $95,000 and will leave us with a $244,000 budget gap. One of the first cuts in expenditures can be a $10.000 reduction in the City Council Contingency fund. This would bring the gap down to $234,000. Please see the following paragraphs on the City Council Contingency fund for an outline as to why the $10,000 can be reduced from this category. Two hundred twenty thousand dollars ($220,000) is in the City Council Contingency fund. From this amount, $80,000 must be removed for new employees and another $80,000 for employee wage adjustments and comparable worth adjustments in 1995. This leaves a $60,000 City Council Contingency fund balance. Ten thousand dollars needs to be cut from this amount, leaving the City Council with $50,000 to work with in 1995. This is a similar amount as to what the Council had in 1994. In 1994, the budget was $70,000, but $19,000 of this amount was designated for the Fire Relief Association. . Some anticipated uses of this $50,000 balance in the City Council Contingency Fund include...City Council wage adjustments, part time fire inspection work, other wage increases, and Theater contributions. (It is assumed the $6,000 Arts request will be reduced to $5,000 and $1,000 of that request will go to the Theater. If additional Theater contributions are appropriate, then it would have to come out of the Council Contingency fund.) With all of these possible expenditures taking place, the City Council would have about $30,000 left in its Contingency fund. This is not very much, but slightly more may be available if some of the expenditures listed above do not take place. With the above changes the gap is now $234,000 and to further reduce this budget gap, staff feels that we need to increase revenues. Overall, we can add about $30.000. This increase is spread out in the following categories: building permits, plumbing and heating permits, planning and zoning fees, plan check fees, administrative project fees, and police relief funds. Additionally, we must consider adding about $60.000 in additional transfers. Regrettably, this will have to come from a combination of liquor store transfers and use of the City cash flow funds. It is suggested the amount be $40,000 from the Liquor Store and $20,000 from the City cash flow fund. (The use of cash flow reserves to balance the budget on an annual basis is a concern; but $20,000 is less than what was used last year.) These revenue increases of $90,000 would leave us with a General Fund gap of $144,000. .