2.1.
CC Work Session
- Meeting Date:
- 03/20/2012
- By:
- Diana Lund, Finance
Title:
Continued Discussion of 2013 Budget
Background:
At the February 14, 2012 City council worksession regarding the 2013 Budget, recommendations were made regarding the receptionist position and EDA levy.
An updated cash flow is attached reflecting these adjustments along with further reductions in staffing relating to the Deputy City Administrator position, excess 2011 General Fund Revenue and adding road reconstruction to the General Fund budget.
A major portion of the cash flow savings is attributed to the refinancing of the municipal center debt. Since the council meeting of March 13, long-term interest rates have risen, which has a long-term effect on the refinancing. A memo outlining the effects will be addressed at Tuesday's meeting.
As the road reconstruction has been added into the budget documents, the current impacts and future financing methods need to be addressed.
An updated cash flow is attached reflecting these adjustments along with further reductions in staffing relating to the Deputy City Administrator position, excess 2011 General Fund Revenue and adding road reconstruction to the General Fund budget.
A major portion of the cash flow savings is attributed to the refinancing of the municipal center debt. Since the council meeting of March 13, long-term interest rates have risen, which has a long-term effect on the refinancing. A memo outlining the effects will be addressed at Tuesday's meeting.
As the road reconstruction has been added into the budget documents, the current impacts and future financing methods need to be addressed.
Funding Source:
N/A
Council Action:
Based upon discussion. Items that need to be addressed: Budget target, Municipal Center Refinancing and Long-Term Road Reconstruction financing.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Jo Thieling | 03/15/2012 04:17 PM |
- Form Started By:
- Diana Lund
- Started On:
- 03/15/2012 03:33 PM
- Final Approval Date:
- 03/15/2012