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12/7/2023 <br />3 <br />PATH TO THE 2024 TAX LEVY <br />Cost of Services Less Operational Revenues Leaves a Funding Gap, Which Equals Levy Need <br />Cost of City Services: <br />$9,608,101 <br />Police, Fire, Public <br />Works, Parks, <br />Emergency <br />Management, Finance <br />Administration and <br />HRAOperating FundsCity Revenues <br />Generated: <br />$3,460,349 <br />Licenses and Permits <br />Intergovernmental <br />Aids, Charges for <br />Services, Fines, <br />Reimbursements and <br />Transfers <br />Gap: <br />$6,147,752 <br />Levy Amount <br />$6,147,752 <br />PATH TO THE 2024 TAX LEVY <br />Replacement Costs Less Generated Revenues Leaves a Funding Gap, Which Equals Levy Need <br />Capital Improvement* Annual needs range from  <br />$350,000 ‐$1,510,447  <br />based on timing of  <br />replacement.  <br />Buildings Maintenance & <br />Equipment Replacement: <br />$350,000 - <br />$1,510,447* <br />City Buildings, Fleet, <br />Snow Plows, Fire Engines, <br />Equipment, Technology, <br />Parks and City <br />Infrastructure <br />City Revenues <br />Generated: <br />$265,500 <br />Transfers, <br />Equipment Sales, <br />Park Dedication <br />Fees, Grants, Fees <br />Gap: <br />$1,116,647* <br />Levy Amount <br />$1,116,647 <br />* Gap determined by  <br />monitoring fund  <br />balance annually to  <br />maintain a 15 year  <br />replacement plan.  <br />58