Council members also amended the city’s 2009 City Budget from $2,042,320 to $2,013,016.
The move formally addresses the loss in Market Value Homestead Credits this year as well as a $40,000 decrease in building activity from that anticipated when the budget was set a year ago. Financial Administration expenses were adjusted by $15,000 to include the charges levied by the Minnesota State Auditor’s Office for the petitioned city audit.
Funds remaining in three inactive debt service funds, closed by council approval later in the meeting, resulted in income to the general fund of $72,935. Overall, Finance Director Mike Jeziorski reported, a net loss of $35,242 for fiscal year 2009 was realized.
Deb Barnes
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