2014 Budget Book - Laserfiche WebLink

Home Browse Search

,5jain thary ilia C.1 Budget Highlights In preparing the 2014 budget, Staff continued its mission to maintain the existing level of City services and programs with the use of financially conservative budgeting. Overall, the proposed 2014 General Operating Budget represents an increase of $378,998 over last year's budgeted amount. This increase is attributable to the City's scheduled receipt of $442,967 in Local Government Aid (LGA) in 2014 and offset by other net budget adjustments of ($63,969). With the Council's guidance, Staff budgeted the following distribution of 2014 LGA: 37% Unmet capital needs and reducing cost allocations to utility funds 25.5% Property Tax Relief, negating the impact certain annual cost factors 24.5% Addressing severance obligations, risk management 10% Property Tax Relief, supplanting decreases in revenues and other aids 3% Slowing growth of Road Levy General Operatinz Fund Given the LGA distribution above Staff is proposing 0% increase in the General Fund Levy amount for 2014. The receipt of LGA in 2014 allows for property tax relief by negating the impact of annual wage increases, health insurance premium increase, increases in police/fire pension costs and escalating energy prices. Therefore a 0% levy increase is feasible. The 2014 Operating Budget reflects a 2% increase in wages for the substantial portion of the Fire, Police, Public Works, Liquor and Non -Union employees. In addition, health insurance premiums increased by 13.3% in 2014 with the increase in cost for family coverage being borne shared equally by the employer and employee. Infrastructure Improvements During the past several budget cycles there has been significant reconstruction of City streets, sidewalks, the storm water system, Silver Lake Village and our park infrastructures. The 2013 street project included street reconstruction and utility improvements to: • Edwards Street — 35th Avenue NE to 36th Avenue NE; • 36th Avenue NE — Roosevelt Street to Silver Lake Road The total budget for the 2013 project totaled $1,803,200. Funding came from the issuance of a street improvement bond and special assessments. For 2014, the City Engineer is proposing street reconstruction and utility improvements to: