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<br />City Manager's Recommendation <br />Addressing Budget Short Fall <br />($2,300,000) <br /> <br />January 9, 2007 <br /> <br /> <br />From Reductions Above Excess of Amount Needed <br />Electric Fund 3% Increase (March 2007) $456,000 <br />Solid Waste $2 Less Than Private Sector (March 2007) <br /> <br />$1,037,124 <br />$0 <br />$360,000 <br /> <br />TOTAL FY2008 New Revenues ** <br /> <br />$1,397,124 <br /> <br />** This new revenue will be adequate to fund the increased cost of operating the City. <br />This will also allow salaries to remain competitive and fund our merit system. <br /> <br />.......................... <br />.._..............-..,..................'......,..... .,'.....-.........,.-...... .--"" ,'.. ..... .... ....... ...... ....... .-.....-.-................. .....,.- ............ <br />IlgB~~~i~jlil'!lili:IIIII!lii:iii <br /> <br />....................-.....--:............,:-...,..-......_..-...'..,...................,-..,.......... <br />"~'~"",""- ...... ........--.......-......-. <br />......... ............... --..... .......-... <br />..... ..., ........ ........-.-."..... <br />..............................................-.."..,,.........-...... <br />............................... <br />.......................,... <br />....................... <br />. . . . . . . . . . . . . . . . . . . . . <br />. . . . . . . . . . . . . . . . . <br /> <br />All Funds RIF Next 3 Years (5 -7 Positions) <br /> <br />$300,000 <br /> <br />TOTAL New Revenues <br /> <br />$1,697,124 <br /> <br /> <br />General Fund Reversion to Town Status <br />(18 -24 Months) <br /> <br />$3,800,000 <br /> <br />Retain 20 Jobs. Some of our most recent "New" industry announcements have 20-25 jobs. <br />Has to be good for the local economy. <br /> <br />3of3 <br />