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RELEVANT LINKS: <br />League of Minnesota Cities Handbook for Minnesota Cities 10/15/2015 <br />Municipal Budgeting Chapter 21 1 Page 6 <br />Include personnel costs, office supplies, computers, software, building and <br />maintenance supplies fuel costs and any other equipment. These are the <br />current expenditures. Next look at money coming in, or revenue, from all <br />sources. As explained in more detail below, property taxes are the largest <br />source of revenue for cities. In order to balance the budget, total estimated <br />revenues must be equal to or exceed total estimated expenditures. The <br />budget sets out a council's yearly plan to maintain, change, add or drop <br />services and activities. <br />Planning a city budget includes a fund balance, or unrestricted money <br />Fund Balances for Local <br />Governments, Statement of <br />available to cover unexpected costs. The state auditor recommends but does <br />Position, Office of the State <br />not require that cities keep a minimum of five months' operating costs on <br />Auditor, Feb. 2014. <br />"City Fund Balances 101" <br />hand and accessible to cover such unanticipated costs. Some city councils <br />League of Minnesota cities, <br />believe that higher fund balances provide more protection against <br />Sept. 2015. <br />unforeseen emergencies. <br />Section vill, Capital <br />Cities often budget and plan separately for capital improvements because the <br />Improvements. <br />process covers more than one year. Capital improvements includes planning <br />for replacing, repairing and maintaining infrastructure such as streets, <br />sidewalks, water and sewer systems, transportation, buildings and parks. <br />Planning for future infrastructure costs is essential. Without it, cities run the <br />risk of costly emergency repairs to local infrastructure. <br />A. Council on Local Results and Innovation <br />Minn. stat. § 6.90. <br />Set up by law in 2010, the Council on Local Results and Innovation <br />Office of the State Auditor: <br />2013 Performance <br />developed a standard set of 10 performance measures for cities to aid <br />Measurement Report. <br />residents, taxpayers, and state and local elected officials in determining the <br />Minn. stat. § 6.91. <br />efficacy of cities in providing services, and measure residents' opinions of <br />those services. Cities that elected to participate in the standard measures <br />system must report its results to its citizens annually through publication, <br />direct mailing, and posting on the jurisdiction's website, or through a public <br />hearing at which the budget and levy will be discussed and public input <br />allowed. Participating cities must report their results to the state auditor. The <br />state auditor must compile the results, make them available to all interested <br />parties, publish them on the auditor's website, and report them to the <br />legislative tax committees. <br />A city that elects to participate in the standard measures program may <br />benefit in these ways: <br />Minn. stat. § 6.90. <br />Minn. Stat. § 275.70 -.74. <br />. Eligible for local government aid reimbursement of 14 cents per capita, <br />but not to exceed $25,000 for any government entity. <br />• Exempt from levy limits for taxes payable in 2015, if levy limits are in <br />effect. <br />League of Minnesota Cities Handbook for Minnesota Cities 10/15/2015 <br />Municipal Budgeting Chapter 21 1 Page 6 <br />