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ORDINANCE: O-2004-43
O-2004-44
SUBJECT: Adoption of the 2005 Annual Budget, adoption of the 2004 Revised Budget, and further establishing a mill levy for the year 2004.
ADDRESS: N/A
RECOMMENDATION: Adoption of the 2005 Annual Budget, adoption of the 2004 Revised Budget, and further establishing a mill levy for the year 2004.
FUNDING SOURCE: N/A
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The following two ordinances are submitted herewith for Council approval on the 2005 Budget.
2005 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 2005, as well as authorized budget revisions for the year 2004.
The 2005 Annual Budget as presented is balanced, total estimated expenditures do not exceed total of anticipated revenues and reserves, and is in conformance overall 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 2004 at 4.711 mills. These property taxes will be collected in the year 2005.
DATE OF FIRST READING: October 11, 2004
DATE OF SECOND READING: October 25, 2004
ORIGINATED BY: Larry Dorr, Director of Finance
STAFF PERSON RESPONSIBLE: Larry Dorr, Director of Finance, 303-987-7601
Cathy Barum, Budget Management Analyst, 303-987-7031
DOCUMENTS ATTACHED: O-2004-43
O-2004-44
NOTE: The Proposed 2005 Budget document is on file in the City Manager's Office,
the City Clerk's Office, and the Finance Department.
SUBMITTED BY:
Larry Dorr, Finance Director
REVIEWED BY:
Joni Inman, Director Mayor and City Manager's Office
Michael J. Rock, City Manager
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