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Item # 9.2. <br />of <br />fiver <br />MEMORANDUM <br />TO: Mayor and City Council <br />FROM: Lori Johnson, City Administrator <br />DATE: November 5, 2007 <br />SUBJECT: 2008 Budget <br />At Monday's worksession, staff will present the three enterprise fund budgets, Liquor <br />Operations, Wastewater Treatment, and Garbage. Copies of these budgets are attached fox <br />your review. <br />The 2008 Liquor budget includes a transfer of funds to the Ice Arena. A request from <br />Finance Director Tim Simon to transfer those funds in 2007 instead of 2008 is attached for <br />your consideration. <br />Further, as part of the Wastewater budget, the recently completed user rate study will be <br />presented by Finance Director Tim Simon and Jessica Cook of Ehlers & Associates. The <br />study includes a recommended rate increase; if the Council concurs, the rate increase will be <br />approved along with the budgets in December. <br />In addition, several changes have been made to the General Fund budget in order to create a <br />balanced budget following the Council action to put the energy city coordinator position <br />back in the budget. Attached is a summary of the budget adjustments staff is recommending <br />to balance the budget. Finance Director Tim Simon and I will be prepared to go through <br />these in more detail at Monday's meeting. <br />