Title
Adoption of the FY 2009 Annual Appropriations (Component Units)
Body
Whereas, in accordance with the provisions of Public Act 2 of 1968, Public Act 621 of 1978, the Uniform Budgeting and Accounting Act for Local Government, the Special Appropriations Act pursuant to PA 493 of 2000, and Section III of the Charter for the City of Rochester Hills, the Mayor as the Chief Executive Officer prepared the budget proposal for the ensuing year and submitted it to the Council at its first meeting in August; and
Whereas, at its August 4, 2008 meeting City Council acknowledged receipt from the Mayor of the Proposed 2009 Budget Plan and set a Public Hearing to be held September 15, 2008 at 7:30 p.m. to solicit comments on the proposed budget plan; and
Whereas, at its September 15, 2008 meeting City Council held said Public Hearing on the proposed millage rates to defray the fiscal year 2009 proposed budget expenditures; and
Whereas, subsequent to the City Councils review and comments the Mayor modified the original proposed budget; and
Whereas, the City Council hereby adopts the following tax rates in accordance with Chapter IV, Taxation, specifically Section 4.1, Power to Tax and Secure Revenue, and Section 4.2, Charter Tax Rate & Special Voted Millages Limitation, to be levied in the winter of 2008 to provide the tax revenues included in the FY2009 Budget.
Resolved, the following is to provide for the general appropriations of the City and set- forth amounts appropriated to defray the expenditures and establish projected revenues and to adopt the City’s Budget for fiscal year 2009.
Be It Further Resolved, the Mayor is hereby authorized to administratively adjust the operating budget line-items up to $25,000 per event, but in no case may total expenditures of a particular fund exceed that which is appropriated by the City Council without a budget amendment. Adjustments from capital accounts and fund balances shall be made only by further action of the City Council.
The City Council does hereby adopt the following fund budget for fiscal year 2009:
Fund 843 - Brownfield Redevelopment Fund:
|
Taxes |
$7,090 |
|
Municipal Contributions |
27,620 |
|
Interest Earnings |
3,000 |
|
Brownfield Redevelopment Fund Total Revenues |
$37,710 |
|
Brownfield Redevelopment Fund Total Expenditures |
$37,710 |
Fund 848 - LDFA Fund:
|
Taxes |
$520,410 |
|
Municipal Contributions |
465,600 |
|
Interest Earnings |
70,000 |
|
LDFA Fund Total Revenues |
$1,056,010 |
|
LDFA Fund Total Expenditures |
$1,056,010 |
Fund 851 - SmartZone Fund:
|
Municipal Contributions |
$349,870 |
|
Interest Earnings |
400 |
|
SmartZone Fund Total Revenues |
$350,270 |
|
SmartZone Fund Total Expenditures |
$350,270 |
Fund 893 - EDC Fund:
|
Fund Balance |
$590 |
|
Interest Earnings |
80 |
|
EDC Fund Total Revenues |
$670 |
|
EDC Fund Total Expenditures |
$670 |