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TO: Mayor & Council <br />FROM: Don Brager, Finance Director -Treasurer <br />LC <br />DATE: September 30, 1993 <br />SUBJECT: Proposed 1994 Budget - Sixth Draft <br />Attached please find a sixth draft of the 1994 General Fund Budget. <br />This draft is $44,410 less than the previous draft. Staff has made the <br />following adjustments: <br />• A reduction of $20,000 has been made to the Legal Services <br />budget. Staff feels that there will not be as many <br />projects/lawsuits in 1994 and that a reduction is appropriate. <br />• The expenditures for the golf course superintendent's position <br />have been reduced by $25,216. Staff feels that an individual will <br />not be needed until mid year. <br />Various minor adjustments were made in several departments to <br />correct minor computational errors. <br />The net result of these adjustments is a revised General Fund Budget of <br />S3,131,985 which is a 5.18% increase over the Adopted 1 hGeneral <br />eral <br />Fund Budget. Reducing the property levy by �as <br />following impact compared to the previous draft: <br />a Reduces the dollar amount levied from an increase of 11.07% to <br />8.54%. <br />The property tax bill of the average homeowner would be 25.97% <br />vs. 30,93%, a savings of $10.03. <br />Staff has prepared a worksheet entitled " 1994 Prope ty Tax Levy <br />Alternatives" for your consideration. The worksheet presents property <br />tax levy alternatives and their impacts upon the General Fund Budget <br />from the perspective of the estimated tax bill for the average <br />homeowner($84,000 home). Options range from a 30.93% Increase(the <br />proposed levy certified to Ramsey County) to a 5% increase. <br />