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• r <br /> TO: Mayor & Council <br /> FROM: Don Brager, Finance Director - Treasurer <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 /> •,lowi n• ad'ustments: <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 /> $3,131,985 which is a 5.18% increase over the Adopted 1993 General <br /> Fund Budget. Reducing the property tax levy by $44,410 has the <br /> following impact compared to the previous draft <br /> • 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 Property Tax Levy <br /> Alternatives" for your consideration. The wor e et Gepraeentsl property <br /> tax levy alternatives and their impacts upon <br /> 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 />