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<br /> <br /> <br /> M E M O R A N D U M <br /> <br /> <br />DATE: July 27, 2016 <br /> <br />TO: Mark Casey, City Manager <br /> <br />FROM: Shelly Rueckert, Finance Director <br /> <br />ITEM: 2017 Preliminary Levy / General Fund Budget <br /> <br />At the June 29th work session, the City Council and staff reviewed the 2017 preliminary levy, the <br />first draft of General Fund revenues and expenses anticipated for 2017, an analysis of the 2017- <br />2023 capital equipment needs and funding sources and the proposed 2017 Debt Levy. Based on <br />the review, staff has updated the preliminary levy proposal, finalized the 2017 Debt levy <br />proposal, updated the summary of General Fund components and provided the detailed <br />information on General Fund revenues and expenses. See Exhibits A-E. <br /> <br />The work session scheduled for August1st will seek Council direction for the presentation of the <br />2017 preliminary levy for public input during the August 23rd Council meeting. <br /> <br />The components of the 2017 proposed preliminary levy are as follows: <br /> <br /> <br />The above Table anticipates that the scheduled increase Local Government aid will be approved <br />in a legislative special session. Without special session approval of the increase the 2017 <br />proposed preliminary levy increase would be $6,450,785 representing a 6.61% increase over the <br />2016 levy, see Exhibit A. <br /> <br /> <br />The parameters for preparing the General Fund Budget and Levy include: <br /> <br />• City revenues budgeted using current run rates for sources that are subject to trends and <br />conservative baseline estimates for re-occurring aids and charges for services <br />• Liquor transfers are based on current operating results (phased in adjustment completed <br />in 2017 levy period) <br />• Expenses budgeted at amounts that will maintain present level of City services <br /> <br /> <br />2016 $ Change 2017 % Change <br />General Fund 3,385,370$ 117,336 3,502,706 3.47% <br />HRA 140,170 17,630 157,800 12.58% <br />CIP 80,990 152,210 233,200 187.94% <br />Road Improvement Debt 1,828,848 (1,640) 1,827,208 -0.09% <br />Lease Revenue Bonds 387,322 (26,115) 361,207 -6.74% <br />Tax Abatement 155,112 69,765 224,877 44.98% <br />Building Improvement Fund 73,000 - 73,000 0.00% <br />Total 6,050,812$ 329,186$ 6,379,998$ 5.44%