AgdaPkt 2005-02-05 Budget - Laserfiche WebLink

Browse Search

5. B-t-J).3 Option B is the most conservative option of the new possible options, as it takes 50% of the projected operating 2005/2006 deficit from reserves and 50% in budget reductions; 33% from reserves and 67% in budget reductions for 2006/2007, and finally 0% from reserves and 100% in budget reductions for 2007/2008. Option B leaves us with a projected 19% in reserves by the end of 2007/2008. Option B Close deficit by Projects 19% Reserve use of: 2005/2006 2006/2007 2007/2008 at June 2008 Reserves 50% 33% 0% BudÇJet reduction 50% 67% 100% % Cut to all depts 2.41% 0.75% 0.68% Option C involves taking 67% of the projected operating 2005/2006 deficit from reserves and 33% in budget reductions; 50% from reserves and 50% in budget reductions for 2006/2007, and finally 33% from reserves and 67% in budget reductions for 2007/2008. This option leaves us with an anticipated 17% in reserves by the end of 2007/2008. Option C Close deficit by Projects 17% Reserve use of: 2005/2006 2006/2007 2007/2008 at June 2008 Reserves 67% 50% 33% BudÇJet reduction 33% 50% 67% % Cut to all depts 1.64% 0.93% 0.82% Option D is less conservative of the two new possible options described above (Option B and C), however, it is still more conservative than Council's policy adopted in Jan. 2004. Council's original policy left us with forecasted reserves of 12%, while this option will leave us with a projected 15% reserve. With this option we would take 75% from reserves and make 25% in budget reductions in 2005/2006 and 2006/2007. In 2007/2008, we would take 67% from reserves and 33% in budget reductions. Option D Close deficit by Projects 15% Reserve use of: 2005/2006 2006/2007 2007/2008 at June 2008 Reserves 75% 75% 67% BudQet reduction 25% 25% 33% % Cut to all depts 1.21% 0.57% 0.67%