06-03-2013 WS - Laserfiche WebLink

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The payroll cost for 48 FT and 1 PT employee is $2,247 per hour, $17,977 per day, $89,886 per 40 hour week and $4,674,074 per year. This amount will change depending on cost of living adjustments, insurance costs, work comp, PERA adjustments and any market adjustments. County dispatch fees will increase, 2014 proposed fees increased $6,466 or 6.85% to $100,916. Fire department costs will increase by about 4% in 2014, our share will depend on the cost sharing formula but should be close to 4% we will also see an increase in capital costs by $11,000 - $13,000. Information technology costs will not increase for 2014. Fuel prices were budgeted at $4.00 for 2013, staff would recommend using $4.00 for 2014. Overall most revenues that are tied to economic activity will be flat to improving. Investment income will remain flat in 2014 as a result of Federal Reserve activities and the weak economic recovery. The franchise fee rate is at 4.00°/x; the revenue generated from this fee will be dependent on commodity prices and economic activity in 2014. 2012 General Fund unassigned fund balance is $3,176,966 this represents 56.53% of 2013 budgeted expenditures and transfers. The General Fund also has Assigned fund balance for Levy Reduction of $6,103,255, and $375,914 to balance the subsequent budget. It has been the Council's policy to draw down these funds over time. One of the City's goals is to develop a sustainable budget. The General Fund deficit will be over $400,000, this will be partially offset by the drawdown of assigned (levy reduction) funds of $155,000. This will leave a deficit of $245,000 or more. Conclusion Staff is looking for direction from the Council on priorities for the budget and property tax levy. The above items are some of the issues that will drive the 2014 budget and are presented for your consideration. Respectfully Submitted, Mark Beer