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Path to the 2020 Tax Levy
<br />
<br />Cost of City Services:
<br />$7,775,827
<br />Police, Fire, Public
<br />Works, Parks,
<br />Emergency
<br />Management, Finance
<br />and Administration
<br />City Revenues Generated:
<br />$3,019,750
<br />Licenses and Permits
<br />Intergovernmental Aids
<br />Charges for Services,
<br />Fines, Reimbursements
<br />and Transfers
<br />Gap:
<br />$4,756,077
<br />Levy Amount
<br />$4,756,077
<br />
<br />Buildings Maintenance &
<br />Equipment Replacement:
<br />$200,000 - $800,000*
<br />City Buildings, Fleet, Snow
<br />Plows, Fire Engines,
<br />Equipment, Technology,
<br />Park Shelters
<br />
<br />City Revenues Generated:
<br />$220,500
<br />Transfers, Equipment
<br />Sales, Park Dedication
<br />Fees, Grants, Fees
<br />
<br />Gap:
<br /> $366,200*
<br />
<br />Levy Amount
<br />$366,200
<br />
<br />2020 Debt Service
<br />Obligations:
<br />$2,893,671
<br />Street and Utility
<br />Reconstruction, Flood
<br />Mitigation, Parks and
<br />City Facilities
<br />R i
<br />Debt Levy Reduction
<br />Program Resources:
<br />$406,490
<br />Municipal State Aid,
<br />Excess Bond Funds,
<br />Project Savings,
<br />Stormwater Fees
<br />
<br />
<br />Gap:
<br />$2,487,181
<br />
<br />Levy Amount
<br />$2,487,181
<br />
<br />Total Levy
<br />Amount
<br />$7,609,458
<br />Cost of Services Less Operational Revenues Leaves a Funding Gap, Which Equals Levy
<br />
<br />
<br />Replacement Costs Less Generated Revenues Leaves a Funding Gap, Which Equals Levy
<br />
<br />
<br />Debt Payments Less Debt Reduction Resources Leaves a Funding Gap, Which Equals Levy
<br />Nd
<br /> Operating Funds Capital Improvement Debt Levy * Annual needs range from
<br />$200,000 - $800,000 based
<br />on timing of replacement.
<br />
<br />* Gap is determined by
<br />monitoring fund balance
<br />annually to sustain the
<br />planned level of
<br />equipment replacement
<br />over the next 18 years
<br />
<br />19
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