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(Section 4. That the City Manager be instructed to prepare the <br />Final Budget Document for Fiscal Year 1976-77 based <br />upon the approximate program expenditure levels in- <br />cluded in the Preliminary Operating Budget as amended <br />as follows: <br />General Fund and Park and Recreation Fund $4,247,259. <br />Sewer and Drainage Fund 892,489. <br />Water Maintenance and Operation Fund 1,108,487. <br />Section 5. That the approximately $1,112,915. Capital Improve- <br />ment Program be included in the Final Budget Document. <br />Section 6. That the City Council, pending final receipt of the <br />assessment figures from the County Assessor, indicate <br />its intention to levy a tax rate of $1.86 per $100.00 <br />of assessed valuation to support the municipal program. <br />Section 7. That the City Council does intend to maintain a <br />reserve equivalent to approximately seven percent (7g) <br />of the total combined General Fund and Park and Recre- <br />ation Fund expenditures. <br />Section 8. That the City Council does approve the tranfser of <br />the Federal Revenue Sharing Funds to be received during <br />Fiscal Year 1976-77 to the General Fund to be expended <br />for public safety, and that Gas Tax Funds in the amount <br />of $197,000. will be retained for street improvement <br />projects and transfers made to the General Fund for <br />street maintenance will be made only to the extent <br />necessary to maintain a seven percent (7a) reserve, <br />and the transfers are approximately as follows: <br />To General Fund - <br />a) From Revenue Sharing $98,000. <br />b) From Gas Tax Funds $89,000. <br />From General Fund <br />a) To General Obligation Bond <br />Redemption Fund $64,500. <br />b) To Gas Tax Funds for <br />interest earned $ 6,000. <br />-3- <br />