HomeMy WebLinkAbout19840926_specialoverdl budget increase over 1984, and 3) recommended capital funding progrsm.
The next budget discussion meeting was set for Wednesday, September 26, 6:30 p.m.
with the formal adoption of the budget to be accomplished in the Regular Meeting
of October 1, 1984.
Mgyor Courtney adjourned the meeting at 5:45 p.m.
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MINUTES OF SPECIAL BUDGET MEETING
OF THE EDINA CITY COUNCIL HELD AT CITY HALL
SEPTIDBER 26, 1984
6:30 P.M.
Answering rollcall were Members Richards, Schmidt, Turner and Mayor Courtney.
Mr. Rosland recalled that the Council had asked the staff to prepare a schedule
of salary comparisions, suggested budget reductions and a recommended capital
funding program for their review.
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Council was presented with a Comparision - Maximum Yearly Salary Reported in
Stanton Survey of the top 10 Group V cities together with a Comparision - Yearly
Percentage of Increase in support of the proposed 5% overall salary increase for
the 1985 Budget.
Mr. Rosland presented the following recommendations from the Finance Director for
1) That the Park Fund be combined with the General Fund as of December 31, 1984.
23 That the Waterworks Fund and the Sewer Rental Fund be combined as of December 31,
3) That a Trust Fund be established during 1984 for the purpose of holding funds
.to pay 1985 and 1986 installments for bonds and interest of Improvement Bond
Redemption Fund I.
That a Working Capital Fund be established by transferring the remainder of
the accounts of the Improvement Bond Redemption Fund, and the Permanent Improve-
ment Revolving Funds as of December 31, 1984.
Capital Fund be used for capital improvement per Capital Improvement Budget.
consideration by the Council: 9
. 1984. The new fund shall be the Utilities Fund.
4)
Any earnings of the Working
Council was then presented with a Working Capital Plan for years 1985-1989.
proposed projects for 1985 total $-100,000 and for 1986 the proposed projects tota2
$250,000. The proposed projects were discussed briefly. Mr. Rosland recommended
that the Council approve the concept of a Capital Budget.
The
The Council Members next reviewed a list of possible Reductions to the 1985 BudgetY ’
totaling $188,221.00.
final adoption of the 1985 Budget could be made at the October 1,.1984 Council
Meeting.
Mayor Courtney adjourned the meeting at 8:30 p.m.
The proposed reductions were thoroughly discussed so that
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