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In the Utility Funds, a minor increase is expected in the water utility but a
substantial increase is expected in the sewer utility due to the loss of a
$35,000.00 one time sewer bill credit in 1973, and the addition of one new
Public Works employee. Total net income for the Utility Funds is estimated
at $86,450.00 of which $42,846.00 will be used for debt bonds and interest
which amounts to $148,535.00 in 1974. ($213,700 before the Ehler's report
reduction).
The balance of the net income will be used to build up the utility fund balance
from its dangerously low level of about $79,000.00. The utility fund balance
will be increased to provide for emergencies and to pay for the addition of
filtration facilities at Well No. 4, and the purchase of land and one additional
well at a later date.
The total debt levy will be 5.25 mills compared to 5.279 mills in 1973.
The anticipated tax increase on a $20,000.00 home will be $2.53 a year; on
a $25,000.00 home, $3.53 per year.
The Clerk agreed with the Council that the Village was presently in good
financial shape. However, he sounded a word of warning that unless the
Legislature provides new tax sources and relaxes the Levy Limitation Law,
problems may develop in funding anticipated 1975 disbursements.
General Fund
Water Utility
Sewer Utility
Receipts
1973
419 ,083
1974
474,464
Net Receipts
1973 1974
114,900 123,900
Net Receipts
1973 1974
145,200 211,700 1.
Disbursements
1973 1974
407,967
499,655
Net Disbursements
1973 1974
86,303 94,975
Net Disbursements
1973 1974
103,000 154,175
1. Sewer use charges to increase January 1, 1974 from $9.00 to $12.00 per
quarter.
MSP (Neisen- Hodges) To adopt Resolution No. 611 certifying a General tax levy
for 1973/74 of $192,620.00. 5 Ayes
MSP (Johnson- Baumgartner) To adopt Resolution No. 612 certifying a bond and
interest tax levy for 1973/74 of $105,689.00.
MSP (Pickar - Neisen) To adjourn at 8:50 P.M.
es
ectfully Submitted,
A /lc,
ennis S. Zy
Clerk- Administrator
5 Ayes
5 Ayes