Title
Adoption of Capital Funds 2005 Budget (400's)
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 4, 2004 meeting City Council acknowledged receipt from the Mayor of the proposed 2005 Budget Plan and set a Public Hearing to be held September 15, 2004 at 7:30 p.m. to hear comments on the proposed Budget Plan; and
Whereas, at its September 22, 2004 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 2004 to provide the tax revenues included in the Proposed 2005 Budget.
Be It Further Resolved, that the City Council for the City of Rochester Hills hereby adopts the Fire Capital Fund Budget for 2005 as follows:
Fund Balance $ 269,500
Investment Interest 36,000
Other Revenue 30,000
Total Fire Capital Fund Revenues $362,500
Total Fire Capital Fund Expenditures $362,500
Be It Further Resolved, that the City Council for the City of Rochester Hills hereby adopts the Pathway Construction Fund Budget for 2005 as follows:
Charges for Service $ 2,600
Investment Earnings ...
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