2016 Budget Book - Laserfiche WebLink

Home Browse Search

Management Summary In preparing the 2016 Budget, Staff continued its mission to maintain the existing level of City services and programs with the use of financially conservative budgeting. The 2016 Budget resulted in a $219,750 increase over last year’s levy amount, equating to a 3.76% levy increase. This levy increase was mitigated the use of one time fees and fund balance. These mitigation efforts phased in the impact of reduced Liquor profits. General and HRA Funds Each year the General Fund revenue and expenditure budget line items are examined for changes in expected collections/charges, labor adjustments, changes in contract rates, insurance rates, utility costs, usage of various materials or needs, etc. The findings of this examination produce the drivers associated with the proposed 1.93% increase in the General Fund Levy equaling a $64,160 increase- see below:  Personnel costs - 73% of General Fund expenditures*, overall costs up 2.92%  Union contract increases 2.5%  Health Insurance premiums up 11.5%  Union Longevity, Steps, shared HR, Workman’s compensation rates  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. 3