CC WORKSESSION 11302015 - Laserfiche WebLink

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Contracted services - 9% of expenditures, overall costs up 3.05% Property and liability insurance costs - 4% of expenditures, rates up 5.22% Pass through costs - 5% of expenditures, costs up 4.39% Remaining budget line items combined - 9% of expenditures, net costs up 0.34% *2016 General Fund Budget for Expenditures is $6,921,304 Impact of a reduction in liquor profits available for transfer was phased in through the use of one time fees and fund balance, mitigating the general fund impact by 2.78% *2016 General Fund Budget for Revenues is $6,936,342 The HRA budget and Levy contains cost drivers similar to the general fund. Conversely this fund does not have the same resources and transfers available in order to offset cost drivers. Therefore the proposed Levy increase for the HRA is 5.56% or $7,388. The 2016 Debt Related Levies are proposed to increase by a combined 1.87% increase over the 2015 combined levies. The $43,537 increase represents a 0.75% increase to the Overall Levy. A debt levy reduction program (Peak to Plateau) began in 2014 to stabilize the annual increase in levies created the annual street reconstruction plan. Without the use of resources committed to this program the impact of 2015 street bonds issued along with existing debt service requirements would have required a 5.05% increase in the Overall Levy. The 2016 Capital Funds Levies are proposed to increase by a combined $103,990. This increase is part of the phase–in plan to recognize that liquor transfers are estimated to be $146,395 less than 2015. The phase-in approach uses of one time fees and fund balance. The impact of the Capital levies increase is eased by phase–in approach used within the General Fund Levy. The components of the 2016 proposed Overall Levy are as follows: Amount Increase/(Decrease) General Fund $3,385,370 $ 64,160 CIP $ 80,990 $ 30,990 Road Improvement Debt $1,828,848 $ 37,123 Lease Revenue Bonds $ 387,322 $ 4,450 HRA Levy $ 140,170 $ 7,388 Tax Abatement $ 155,112 $ 1,964 Building Improvement $ 73,000 $ 73,000 $6,050,812 $219,075 4