Title
Adoption of the Special Revenue Funds - 2007 Budget
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, and the Charter for the City of Rochester Hills, Chapter III, Section 3.2, the Mayor as the Chief Executive Officer shall prepare the budget proposal for the ensuing year and shall submit it to the Council at its first meeting in August; and
Whereas, at its August 2, 2006 meeting City Council acknowledged receipt from the Mayor of the Proposed 2007 Budget Plan and set a Public Hearing to be held September 20, 2006 at 7:30 p.m. to hear comments on the Proposed Budget Plan; and
Whereas, at its September 6, 2006 meeting City Council adopted the 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 December 2006 to provide the tax revenues included in the 2007 Budget.
Resolved, that the City Council of the City of Rochester Hills hereby adopts the Major Road Fund Budget for Fiscal Year 2007 as follows:
Fund 202 - Major Road Fund:
Fund Balance to Balance $3,659,080
Federal & State Grants 3,216,470
Charges for Service 17,250
Fees 196,250
Interest Earnings 492,880
Miscellaneous Revenue 217,830
Transfers-In 353,900
Total Major Road Fund Revenue $8,153,660
Total Major Road Fund Expenditure $8,153,660
Resolved, that the City Council of the City of Rochester Hills hereby adopts the Local Street Fund Budget for Fiscal Year 2007 as follows:
Fund 203 - Local Street Fund:
Fund Balance to Balance $1,052,690
Licenses & Permits 10,000
Federal & State Grants 1,214,300
Municipal Contributions 40,000
Charges for Service 92,700
Interest Earnings 69,880
Special Assessments 17,920
Miscellaneous Revenue 10,000
Transfers-In 3,429,300
Total Local Street Fund Revenue...
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