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<br /> <br /> <br /> M E M O R A N D U M <br /> <br /> <br />DATE: August 25, 2015 <br /> <br />TO: City Council <br /> <br />FROM: Mark Casey, City Manager <br /> Shelly Rueckert, Finance Director <br /> <br />ITEM: GENERAL FUND BUDGET/LEVY <br /> <br /> <br /> <br />At the July 31th work session, the City Council and Staff reviewed the proposed 2016 General <br />Fund Operating Budget and the 2016 Overall levy. Additionally, a public hearing was held April <br />28th for public input on the budget process. <br /> <br />Based on discussions with the Council, Staff is proposing a 2016 General Fund Operating <br />Budget totaling $6,936,342. The 2016 proposed Overall Levy increase is $219,075 or a 3.76% <br />percent increase from 2015. <br /> <br /> <br /> <br />The components of the 2016 proposed Overall Levy are as follows: <br /> <br /> Amount Increase/(Decrease) <br /> General Fund $3,385,370 $ 64,160 <br /> CIP $ 80,990 $ 30,990 <br /> Road Improvement Debt $1,828,848 $ 37,123 <br /> Lease Revenue Bonds $ 387,322 $ 4,450 <br /> HRA Levy $ 140,170 $ 7,388 <br /> Tax Abatement $ 155,112 $ 1,964 <br /> Building Improvement $ 73,000 $ 73,000 <br /> $6,050,812 $219,075 <br /> <br /> <br />The parameters for preparing the General Fund Operating Budget and Levy includes: <br /> <br /> City revenues budgeted using current run rates for sources that are subject to trends <br />and conservative baseline estimates for re-occurring aids and charges for services <br /> Liquor transfer reduced to match current operating results <br /> Expenses budgeted at amounts that will maintain present level of City services <br /> <br /> <br /> <br /> <br /> <br />2727