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M E M O R A N D U M DATE: August 17, 2016 TO: Mark Casey, City Manager FROM: Shelly Rueckert, Finance Director ITEM: 2017 Preliminary Levy / General Fund Budget At the August 1st work session, the City Council and staff reviewed the proposed 2017 preliminary levy, the General Fund revenues and expenses anticipated for 2017, the 2017-2023 capital equipment needs and funding sources and the proposed 2017 Debt Levy. Based on discussions with Council, staff is proposing a 2017 overall levy of $6,450,785. The 2017 proposal represents an increase of $399,973 or a 6.61% increase from 2016 The components of the 2017 proposed preliminary levy are as follows: The above Table anticipates that the scheduled increase Local Government aid will be not be approved in a legislative special session prior to certifying the preliminary levy. With special session approval of the increase the 2017 proposed preliminary levy increase would be $6,379,998 representing a 5.44% increase over the 2016 levy. The parameters for preparing the General Fund Budget and Levy include: • City revenues budgeted using current run rates for sources that are subject to trends and conservative baseline estimates for re-occurring aids and charges for services • Expenses budgeted at amounts that will maintain present level of City services • Liquor transfers are based on current operating results (phased in adjustment completed in 2017 levy period) 2016 $ Change 2017 % Change General Fund 3,385,370$ 188,123 3,573,493 5.56% HRA 140,170 17,630 157,800 12.58% CIP 80,990 152,210 233,200 187.94% Road Improvement Debt 1,828,848 (1,640) 1,827,208 -0.09% Lease Revenue Bonds 387,322 (26,115) 361,207 -6.74% Tax Abatement 155,112 69,765 224,877 44.98% Building Improvement Fund 73,000 - 73,000 0.00% Total 6,050,812$ 399,973$ 6,450,785$ 6.61% 79