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12/7/2023 <br />12 <br />IMPACT OF DEBT LEVY RELIEF <br />Debt Levy will be $1,926,734 for levy year 2024, a $550,447 decrease in levy. <br />The Infrastructure Levy will increase by $565,447 to be used for future street improvements. <br />The combined levies results in a zero levy increase for the Street improvement program costs for the 5th year in a row <br />Phase II Process to reduce reliance on Debt to pay for street improvements. <br />SUMMARY OF 2024 BUDGET <br />•General Fund operating budget totals $9,398,687 <br />supported by a property tax levy of $5,938,338 <br />•Personnel costs represent 70.0% of General Fund expenditures: <br />•Personnel costs up $353,945 or 5.71% <br />•Wages and benefits for $260,355 additional for Public Safety positions <br />•Health insurance costs up $28,909 <br />•Other Insurance expenditures up $114,862 <br />•Contracted services up $66,615 <br />•Capital Funds levies increased by $45,000 <br />•Increase in all levies totals $503,708 or 5.80% <br />67