8.7. & 8.8. SR 01-03-1994
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ITEM 8.7 & 8.8.
TO:
FROM:
MAYOR AND CITY COUNCIL
LORI JOHNSON, FINANCE DIRECTOR ~~
DATE: DECEMBER 27, 1993
SUBJECT: 1994 BUDGET AND 1994 PAY
RESOLUTION
At the December 20 City Council meeting, the City Council
requested that the 1994 pay resolution be tabled and brought
back for discussion January 3. The material remains unchanged
from the information that was included in your December 20
agenda packet. Please bring your information on Item 9.1.,
from the December 20 agenda, to the January 3 meeting for
discussion on the 1994 pay resolution.
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Also, at the December 20 meeting, the City Council approved the
levy at $1,744,898. This was a reduction of $43,500 from the
proposed levy. However, the budget was approved at the
proposed amount of $3,394,750, with the $43,500 decrease in tax
revenues to be made up by the use of fund balance reserved for
cash flow. It was the Council's intention to review the 1994
budget at a later date. In that regard, please bring your
budget material on Item 9.2., from the December 20 meeting.
Staff will be prepared to discuss possible ways of eliminating
the need for the use of $43,500 from the fund balance reserve
for cash flow purposes.
If you do not have either the pay resolution
information which was provided in the December
please contact City Hall and an additional set will be
to you.
or budget
20 packet,
provided
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P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425