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ORDINANCE: O-2002-34 and O-2002-35
SUBJECT: Adoption of the 2003 Annual Budget, and further establishing a mill levy for the year 2002.
ADDRESS: N/A
RECOMMENDATION: Adoption of the 2003 Annual Budget, and further establishing a mill levy for the year 2002.
FUNDING SOURCE: N/A
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The following two ordinances are submitted herewith for Council approval on the 2003 Budget.
2003 Budget. Article XII of the Lakewood City Charter requires that on or before the first day of November of each year, the City Council adopt a budget for the ensuing fiscal year, and further that the City Council make appropriations for the ensuing fiscal year by ordinance.
The ordinance as submitted identifies all available financial sources and authorized appropriations for the Annual Budget for the year 2003, as well as authorized budget revisions for the year 2002.
The 2003 Annual Budget as presented is balanced, and is in conformance with the City Charter and State budget laws.
Mill Levy. The Charter also requires that each year, the Council approve the levy and collection of property taxes in conformance with State law.
The second ordinance as submitted certifies the property tax mill levy for the year 2002 at 4.711 mills. These property taxes will be collected in the year 2003.
DATE OF FIRST READING: October 14, 2002
DATE OF SECOND READING: October 28, 2002
ORIGINATED BY: Jacque Wedding-Scott, Director of Finance
STAFF PERSON RESPONSIBLE: Jacque Wedding-Scott,
Director of Finance, 303-987-7601
Cathy Barum,
Fiscal Analyst/Budget Coordinator, 303-987-7031
DOCUMENTS ATTACHED: 2003 Budget Ordinances
2002 Mill Levy Certification Ordinance
NOTE: The Proposed 2003 Budget document is on file in the City Manager's Office.
SUBMITTED BY:
Jacque Wedding-Scott, Finance Director
REVIEWED BY:
Joni Inman, Director Mayor and City Manager's Office
Michael J. Rock, City Manager
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