CC PACKET 09102019 - Laserfiche WebLink

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M E M O R A N D U M DATE: September 10, 2019 TO: Mark Casey, City Manager FROM: Shelly Rueckert, Finance Director ITEM: 2020 Preliminary Levy / General Fund Budget At the August 27th City Council meeting, the City Staff presented the proposed 2020 General Fund Operating Budget and the 2020 Overall levy. Additionally, a public hearing was held March 26th for public input on the budget process. Staff’s is reaffirming its proposed 2020 overall levy of $7,609,458. The 2020 proposal represents an increase of $298,005 or a 4.08% increase from 2019. The components of the 2020 proposed preliminary levy are as follows: The standard 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. The General Fund Budget and Levy cost drivers are as follows 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 5.71% increase in the General Fund Levy - see below: 15