City Council Meeting Date: September 13, 2016
To: Mayor and City Council
City Administrator
From: Melanie Lammers, Finance Director
Dave Bennett, Public Works Director/City Engineer
Title
Review Enterprise Funds Budgets
Body
Action Requested:
The Northfield City Council will have a high level overview of the Enterprise Funds budgets.
Summary Report:
Preliminary budgets have been submitted for our five Enterprise Funds. Attached is the detail associated with those budgets. Preliminarily, the Utility Fund rates are set as:
Water Fund - No increase, rates stay the same
Wastewater Fund- 3% increase
Garbage Fund- No increase
Stormwater Fund- 6% increase
None of these are final rates. A broader discussion on Utility rates will be had in October, and council will need to pass a resolution to change any rates in November. The final budgets will be adjusted to reflect Councils decision on the Utility rates.
Financial Impacts:
These budgets are a starting point for the final 2017 budgets.
Tentative Timelines:
The Enterprise preliminary budgets will be on the preliminary budget resolution for consideration from Council on September 20th.