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I CRY OF <br /> 1111REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 17. <br /> 0,06 <br /> STAFF REPORT Report Number:� <br /> AGENDA SESSION DATE October 2, 1995 Report Date: <br /> DISPOSITION <br /> Item Description: Continued Discussion of Proposed 1996 Budget <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report c f <br /> - Comments attached. <br /> ' ' '' .mn/Su imaryyattach supplement sheets as necessary.) <br /> SUMMARY; <br /> Attached please find revised 1996 Proposed General Fund Revenue and Expenditure budgets reflecting <br /> changes made at the last budget work session. The Police Crime Prevention budget was increased by <br /> $39,221 to reflect the hiring of a police officer under the C.O.P.S. grant program. To offset these <br /> increased expenditures account 100-4700-975, Salary Adjustments, Comp Worth was reduced by$10,000 <br /> and Revenues ( Account 100-3690, Other Grants) were increased by $29,221, the estimated amount of <br /> the C.O.P.S. grant. <br /> The proposed levy certified to Ramsey County is 6% more than the 1995 levy. That 6% increase raises <br /> an additional $95,594 in property taxes. The average home's taxes would increase 7.03%, or $17.24 if <br /> this levy is adopted. If a 3% increase in the levy were adopted it would raise an additional $47,797 in <br /> property taxes and the average home's taxes would increase by 2.88% or $7.07. <br /> Debt Service required on the Fire Improvement Bonds for 1996 is $92,565 compared to the 1995 Debt <br /> Service levy of$94,596. That decrease has the effect of increasing the amount of taxes for the General <br /> Fund. At a 3% levy increase the additional levy allocated to the General Fund is $49,828, or 3.3% more <br /> than was allocated in 1995. At a 6% levy increase, the additional levy allocated to the General Fund <br /> is $97,625, or an increase over 1995 of 6.5%. The additional $97,625 has been placed in a separate <br /> contingency account until Council determines a use for these additional revenues. <br /> Staff has presented the proposed 1996 budget with a 6% levy increase in the special budget edition of <br /> the City Newsletter. Staff seeks Council direction as to the budget to present at the Information Meeting <br /> on the 1996 budget to be held October 23. <br /> RECOMMENDATION; <br /> A <br /> Donald Brager, Finance I)rector <br />