Title
Adoption of General Fund - 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 General Fund Budget for Fiscal Year 2007 as follows:
Fund 101 - General Fund:
Fund Balance to Balance $19,070
Taxes 13,161,940
Licenses & Permits 1,772,000
Federal & State Grants 5,463,520
Interfund Charges 3,810,780
Charges for Service 952,670
Fees 234,800
Rentals 287,780
Fines & Forfeitures 112,000
Interest Earnings 820,000
Miscellaneous Revenue 55,600
Total General Fund Revenue $26,690,160
Total General Fund Expenditure $26,690,160