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Cc-�ntinlgency Plan - 2003 Budget Revisions <br /> State Aid Cut Formula: (Based on Governor's Proposal) <br /> Total Local Levy $2,6765041 <br /> Add: LGA 2003 $ 1985563 <br /> Times 9.3% <br /> Potential LGA L $ 2� <br /> G Loss in 2 003 <br /> L 6�7: I8? <br /> Potential LGA Loss in 2004 $ 375` 523 <br /> Revisions to 2003 Budget: <br /> 1) Renegotiate.Prosecuting Attorney $ 12,000 (Savings) <br /> 2) Eliminate Village Fest/Fire Works $ 55000 <br /> 3) Eliminate Action Contribution $ 2,500 <br /> 4) Eliminate Community Concerts $ 2,000 <br /> 5) Reorganize Volunteer Dinner $ 3,000 (Savings) <br /> New 2003 Budget = $1,500 <br /> 6) Reorganize Employee Recognition $ 1,000 (Savings) <br /> 7) Eliminate Holiday Lunch $ 1,000 <br /> $ 26,500 <br /> Sources of Revenue: <br /> 1) Liquor Store Profits from 2002 $ 50,000 <br /> A. $100,000 General Fund <br /> B. $150,000 Capital Equipment <br /> C. $ 50,000 To Budget Shortfall <br /> 2) Budget Reserves from 2002 Budget $ 77,000 <br /> Total Dollars Designated $1539500 <br /> Potential Other Budget Adjustments: <br /> Delay Hiring till 2004: <br /> P/W Employee $ 30,200 (Savings) <br /> Community Service Officer $ 10,400 (Savings) <br /> $ 40,600 <br /> Total Contingency Plan for 2003 $1949100 <br /> Other Potential Adjustments $181,423 (Tires Plus = $416,000) <br />