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<br /> <br /> <br /> M E M O R A N D U M <br /> <br /> <br />DATE: December 11, 2018 <br /> <br />TO: Mark Casey, City Manager <br /> <br />FROM: Shelly Rueckert, Finance Director <br /> <br />ITEM: 2019 Final Levy / General Fund Budget <br /> <br /> <br />At the September 11th City Council meeting a public hearing was held setting the preliminary <br />2019 property tax levy and the 2019 General Fund Budget. <br /> <br />City Staff is reaffirming the preliminary 2019 property tax levy established at $7,311,453. The <br />2019 levy represents an increase of $461,442 or a 6.74% increase from 2018. <br /> <br />The components of the 2019 Final property tax levy are as follows: <br /> <br /> <br /> <br /> <br /> <br /> <br />The standard 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 /> Expenses budgeted at amounts that will maintain present level of City services. <br /> Liquor transfers are based on expected operating results. <br /> <br /> <br />The General Fund Budget and Levy cost drivers are as follows <br /> <br />Each year the General Fund revenue and expenditure budget line items are examined for <br />changes in expected collections/charges, labor adjustments, changes in contract rates, <br />insurance rates, utility costs, usage of various materials or needs, etc. The findings of this <br />examination produce the drivers associated with the proposed 8.77% increase in the General <br />Fund Levy - see below: <br /> <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 />21