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<br />rl! ~( <br />( l! <br />IIi( River <br /> <br />ITEM 8.7 & 8.8. <br /> <br /> <br />TO: <br /> <br />FROM: <br /> <br />MAYOR AND CITY COUNCIL <br />LORI JOHNSON, FINANCE DIRECTOR ~~ <br /> <br />DATE: DECEMBER 27, 1993 <br /> <br />SUBJECT: 1994 BUDGET AND 1994 PAY <br />RESOLUTION <br /> <br />At the December 20 City Council meeting, the City Council <br />requested that the 1994 pay resolution be tabled and brought <br />back for discussion January 3. The material remains unchanged <br />from the information that was included in your December 20 <br />agenda packet. Please bring your information on Item 9.1., <br />from the December 20 agenda, to the January 3 meeting for <br />discussion on the 1994 pay resolution. <br /> <br />e <br /> <br />Also, at the December 20 meeting, the City Council approved the <br />levy at $1,744,898. This was a reduction of $43,500 from the <br />proposed levy. However, the budget was approved at the <br />proposed amount of $3,394,750, with the $43,500 decrease in tax <br />revenues to be made up by the use of fund balance reserved for <br />cash flow. It was the Council's intention to review the 1994 <br />budget at a later date. In that regard, please bring your <br />budget material on Item 9.2., from the December 20 meeting. <br />Staff will be prepared to discuss possible ways of eliminating <br />the need for the use of $43,500 from the fund balance reserve <br />for cash flow purposes. <br /> <br />If you do not have either the pay resolution <br />information which was provided in the December <br />please contact City Hall and an additional set will be <br />to you. <br /> <br />or budget <br />20 packet, <br />provided <br /> <br />e <br /> <br />P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br />