1983 July 18 to 1984 July 9 - Council Packets

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r July 13, 1983 Estimated 1984 Revenue . Page 3 Exercising those options accounts for the differences in revenues and mill rates between the two options presented. The dollars and mill rates for those options are detailed below. Please note that the mill rates given identify the effect on the over all mill rate. Allocation amongst individual funds will vary slightly. Dollars Mills Total tax levy -budget 827,107 13.386 patterned after 1983 Local government aid loss 51,507 0.945 Change in levy limit formula 42,716 0.784 Forestry levy 23,201 0.426 Debt certificate 13,053 0.239 Total tax levy -exercise all 957,584 15.780 options pursuant to Omnibus, Tax Bill The differences in General Fund revenues between the two options are detailed below, General Fund Revenues Budget patterned after 1983 $1,399,034 Levy for local government aid loss 51,507 Change in levy limit formula 42,715 Forestry levy 23,201 Proceeds from sale of equipment 23,000 certificates Budget pursuant to exercise of all $1,539,457 options under Omnibus Tax Bill The special levy for Forestry increases the General Fund':s revenues beeausu without it monies that would otherwise be nvailable for the General Fund are used to finance Forestry activities. The special levy thus allows those monies to then be used for General Fund purposes. The equipment debt certificates, as proposed, would be issued for a term of two years and sold to the Water Fund. The proceeds of the sale, $23,000.00 would be transferred to the General Fund and would be used to purchase two squad cars. The levy shown for the certificates is for the first year's principal and interest. It is considered a debt levy and as such included .in the amounts levied for bonded indebtedness. When received from the County money rrom the levy would be placed in a Debt Certificate fund and subseyueuLly transferred to the Water Fund to pay off the certificates. 1