Laserfiche WebLink
City of <br />Pequot <br />Lakes— <br />AGENDA ITEM #11.4 <br />REPORT TO <br />CITY COUNCIL <br />Report Prepared by: Nancy Malecha <br />Date: March 5, 2013 <br />Subiect: Revised Budgeting Style <br />Report: City Department Heads and I are asking to <br />change the budgeting style currently used from the seasonal <br />method to the annual method. With the seasonal budgeting <br />method, we budget each account on a month by month <br />basis, taking into consideration possible expenditure <br />fluctuations. We find this to be very time consuming and it <br />does not offer us any additional budgeting benefits from the <br />annual method. With the annual budgeting method, we <br />budget each account on an annual basis and the financial <br />software automatically allocates it for the twelve month <br />periods. The annual method was the City's budgeting style <br />prior to 2010 and we have found this to be more efficient <br />and it is preferred by City staff. <br />Council Action Requested: Council motion authorizing <br />City staff to revert back to the annual budgeting style <br />beginning with the 2014 budgets. <br />