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Attachment #1 <br /> 2003 Budget Adjustments/Contingency Plan: <br /> State Aid Cuts — 2003 <br /> Calculation (State Aid Cuts): <br /> 2003 Total Levy $2,6761041 <br /> Add: 2003 Local Government Aid $ 198,563 <br /> $2,874,604 <br /> Multiply by 9.3% = State Aid Cuts $ 267,348 <br /> $198,563 or 100% of St. Anthony's LGA is eliminated <br /> $ 68,785 of Market Value Credit is cut <br /> (Remaining MVC = $120,371) <br /> Budget Reductions/Adjustments: <br /> Renegotiate Prosecuting Attorney $ 125000 <br /> Eliminate Village Fest/Fire Works $ 59000 <br /> Eliminate Action Contribution $ 2,500 <br /> Eliminate Community Concerts $ 2,000 <br /> Reorganize Volunteer Dinner $ 31000 <br /> Reorganize Employee Recognition $ 1,000 <br /> Eliminate Holiday Lunch 1,000 <br /> $ 26,500 <br /> Staff Reductions: (Become Permanent) <br /> P/W Employee $ 305200 Vacant <br /> Community Service Officer 10,400 Vacant <br /> $ 40,600 <br /> Sources of Revenue: <br /> 2002 Liquor Profits $ 505000 <br /> 2002 Budget Reserves 77,000 <br /> $127,000 <br /> Total $1949100 <br /> Funding Gap $ 73,248 <br /> Tires Plus Transfer $ 739300 <br />