Laserfiche WebLink
<br />01-0000-91-00 $50,000 (Contingency) <br />Total $439,355 <br /> <br />The revised current tax revenue (account 01-7010) is $6,207,127. <br /> <br />Total General Fund Surplus in excess of 25% reserve <br />Proposed uses of surplus: <br /> <br />$2,209,077 <br /> <br />$305,000 for payoff of current General Fund portion of <br />lease-purchase agreement with Liberty National Bank <br />for all but the third year of payments. <br /> <br />$ 305,000 <br /> <br />$188,177 to purchase capital items in the 07-08 General <br />Fund budget plus $436,504 to purchase capital items in <br />the 07-08 General Fund budget originally scheduled to <br />be lease-purchased less $305,000 the General Fund <br />portion of the Liberty lease-purchase agreement. <br /> <br />$ 319,681 <br /> <br />Capital Replacement Fund <br /> <br />$1,250,000 <br />$~ .33lf,3" <br /> <br />Remaining Surplus <br /> <br />There is $50,000 of the Liberty National Bank lease-purchase agreement (in addition to the <br />General Fund amount above) related to the Water & Sewer Fund. There is also $193,200 in <br />Water & Sewer Fund capital items that are scheduled to be lease-purchased in the proposed 07- <br />08 budget. <br /> <br />The Council directed a total increase of $466,898 budgeted in the Water & Sewer Fund for line <br />replacements. The proposed budget had $333,000 in proposed increases leaving an additional <br />$133,898 to be funded. That funding is being obtained by reducing the following accounts: <br /> <br />10-1002-86-99 $50,000 (backhoe) <br />10-0508-87-00 $ 8,500 (duplication oflease payment & capital purchase) <br />10-0211-82-00 $ 5,500 (chemicals) <br />10-0308-87 -00 $ 4,898 (electricity) <br />10-0402-82-00 $65,000 (bridge in rear of WTP) <br /> <br />Please contact the City Manager as soon as possible if you have any questions or comments. <br /> <br />Revised 9/14/07 <br /> <br />-... .. <br />