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City Council Regular Meeting Minutes 10 September 14, 2004 Page 10 1 Motion by Councilmember Stille, seconded by Councilmember Horst to Appoint 2 Councilmember Faust, and Himself, Councilmember Stille,to Serve as Members of the Blue 3 Ribbon Finance Committee,Provided that the School Board will Allow Two Member to 4 Represent Council. 5 6 Motion carried unanimously. 7 8 E. Resolution 04-061, re: Proposed 2005 Tax Levy and Budget in Compliance with the 9 Truth in Taxation Act. 10 City Manager Morrison and Finance Director Larson presented the 2005 proposed General 11 Fund budget. Mr. Mornson indicated the budget reflects a dollar increase of$192,600, adding 12 that the numbers reflect a two percent increase in wages, and an additional thirty dollar per month 13 employer health insurance contribution. He reviewed the breakdown of the increases. 14 15 Mr. Mornson highlighted items that are new to the budget this year which include: 16 1. The Parks budget was increased$20,000.00 to reflect the costs of lighting 17 . Central Park. In checking with other Communities that have similar size parks, 18 their annual lighting costs were approximately$20,000 - $25,000. 19 2. Community Services transfer totaling $54,000.00. This line item reflects 20 Council support of funding the School District's lost "Grandfather Levy" for parks 21 and recreation. Council agreed to fund 1/2 the cost in 2004 ($27,000.00) and 22 $54,000.00 in 2005 & 2006. 23 24 Mr. Morrison noted that without the addition of those two expenditures the proposed budget would 25 reflect an increase of$118,600. 26 27 Mr.Mornson stated in addition, all Departments have submitted their capital equipment requests, 28 in which total expenditures are $193,800. He noted that funding comes from various sources 29 including the police contracts, a water/sewer transfer, water filtration interest earnings and fund 30 balance reserves. 31 Mr. Mbmson reviewed the General Fund Levy, indicated that no levy limits are in affect for 32 2005. He noted the proposed General Fund levy for 2005 totals $2,488,357, adding that this 33 represents a dollar increase of$159,321. He added, however, without the addition of the 34 Central Park lighting costs and the Community Services transfer the increase would have been 35 $85,321. 36 Mr. Morrison reviewed special levies in noted with adding the cost of the 2004 road 37 improvement project to the levy, the line item is up $158,294. He reviewed a summation of the 38 General Fund and Special Levies for the last four years. 39 Mr. Mornson reviewed the total levy which shows an increase of$319,395 over last years levy. 40 He reviewed the increases. 41 Mr. Morrison stated in summary, the information necessary to calculate the tax rate and the 42 affect the levy will have on property taxes is not available until October of each year. He stated