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MEMORANDUM <br />DATE: September 9, 2014 <br />TO: City Council <br />FROM: Mark Casey, City Manager <br />Shelly Rueckert, Finance Director <br />ITEM: GENERAL FUND BUDGET/LEVY <br />At the August 4th work session, the City Council and Staff reviewed the 2015 General Operating. <br />Additionally, a public hearing was held April 22nd for public input on the budget process and the <br />budget was reviewed at the August 26, 2014 City Council meeting. <br />Based on discussions with the Counci l , Staff has prepared a proposed 2015 General Operating <br />Budget. This represents a $218,900 dollar or a 3. 9% percent increase from 2014. The <br />parameters for preparing the budget included: <br />1) Revenues are budgeted using current trends for variable revenue sources and <br />conservative estimates for stable revenue sources. Expenses are budgeted at amounts <br />that will maintain present levels of City services. <br />2) Salaries adjustments are estimated at union settlements . <br />3) Health Insurance premiums up 10.5% with the City's share of costs estimated at <br />union settlements. <br />4) State Pension funding rates up 3 .5-5 .9% for 2015 , worker compensation costs up <br />13%, other insurance costs up 12.25%, and energy related expenses are expected to <br />increase at various rates <br />5) Road levy increase of .94% results from the addition of the 2014 Road Project along <br />with slight increases in debt requirements for Public Facilities and Tax Abatement <br />Debt. Mitigated by the schedule levy reduction of $14 7.500 . <br />Levy Relief was achieved by the use of $62,448 of additional Local Government Aid and debt <br />levy reduction as detailed below: <br />• Pre-levy relief increase 7.64% <br />• With debt reduction 5 .01% <br />• With additional LOA 3.90% <br />• Estimated increase in City rate with TIF <br />Decertification -.42% <br />17