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Path to the 2023 Tax Levy
<br />
<br />Cost of Services:
<br />$8,970,976
<br />Police, Fire, Public
<br />Works, Parks,
<br />Emergency Mgmt,
<br />Finance,
<br />Administration, HRA
<br />City Revenues Generated:
<br />$3,281,931
<br />Licenses and Permits
<br />Intergovernmental Aids
<br />Charges for Services,
<br />Fines, Reimbursements
<br />and Transfers
<br />Gap:
<br />$5,689,044
<br />Levy Amount
<br />$5,689,044
<br />
<br />Buildings Maintenance &
<br />Equipment Replacement:
<br />$350,000 - $50,000*
<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 /> $511,200*
<br />
<br />Levy Amount
<br />$511,200
<br />
<br />2022 Debt Service
<br />Obligations:
<br />$3,072,797
<br />Street and Utility
<br />Reconstruction, Flood
<br />Mitigation, Parks and
<br />City Facilities
<br />Reconstruction,
<br />Debt Levy Reduction
<br />Program Resources:
<br />$585,616
<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 />$8,687,425
<br />Cost of Services Less Operational Revenues Leaves a Funding Gap, Which Equals Levy
<br />Need
<br />
<br />Replacement Costs Less Generated Revenues Leaves a Funding Gap, Which Equals Levy
<br />Need
<br />
<br />Debt Payments Less Debt Reduction Resources Leaves a Funding Gap, Which Equals Levy
<br />Need
<br /> Operating Funds Capital Improvement Debt Levy * Annual needs range from
<br />$350,000 - $950,000 based
<br />on timing of replacement.
<br />
<br />* Gap determined by
<br />monitoring fund balance
<br />annually to maintain 15-
<br />year replacement plan.
<br />
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