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M E M O R A N D U M <br />DATE: August 28, 2018 <br />TO: Mark Casey, City Manager <br />FROM: Shelly Rueckert, Finance Director <br />ITEM: 2019 Preliminary Levy / General Fund Budget <br />At the May 8th and August 20th work session, the City Council and staff reviewed the proposed <br />2019 Debt Levy. The Debt Levy is comprised of the Road Improvement Debt, the Lease <br />Revenue Bonds and the Tax Abatement levies. Also on the August 20th work session the City <br />Council reviewed the General Fund Budget, considered additional initiatives for 2019 General <br />Fund Levy, and proposed adjustments to the Housing Redevelopment Authority (HRA), Capital <br />Improvement and Building Improvement Fund levies. <br />Staff’s is proposing a 2019 overall levy of $7,311,453. The 2019 proposal represents an increase <br />of $461,442 or a 6.74% increase from 2018. <br />The components of the 2019 proposed preliminary levy are as follows: <br />The standard parameters for preparing the General Fund Budget and Levy include: <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 />Expenses budgeted at amounts that will maintain present level of City services. <br />Liquor transfers are based on current operating results. <br />2018 $ Change 2019 % Change <br />General Fund 3,975,534$          348,579   4,324,113$    8.77% <br />HRA 162,534   7,720   170,254   4.75% <br />CIP 233,200   25,000   258,200   10.72% <br />Road Improvement Debt 1,833,431  81,455   1,914,886  4.44% <br />Lease Revenue Bonds 344,882   (1,535)  343,347   ‐0.45% <br />Tax Abatement 227,430   (4,777)  222,653   ‐2.10% <br />Building Improvement Fund 73,000  5,000   78,000   6.85% <br />Total 6,850,011$         461,442$     7,311,453$     6.74% <br />11