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 The Police department is anticipated to have two police officers retire in 2024. The <br />department will also need to fill two patrol positions to replace the existing officers <br />filling the new VCET and Lieutenant positions. Therefore, there will be four new officers <br />to be trained in 2024. The training costs have been budgeted separately from regular <br />wages as year to year changes will vary based on need. The cost of training four new <br />officers in 2024 is expected to be $101,149. This is a $56,900 increase over the 2023 <br />training amount budgeted. <br /> <br /> The part-time communications position is currently vacant. The 2024 budget assume <br />this position will be filled by 1/1/2024 at the position current compensation level plus <br />the 3.5 COLA. <br /> <br /> Health Insurance premium increase of 4.2 % is shared 50/50 by the City and the <br />employees. The 2024 impact of the shared increase is $9,546 (includes elected <br />coverage changes from 2022 to 2023). The cost of adding two police positions and the <br />Assistant Fire Chief is budgeted at $19,363. This yields a total increase in health <br />insurance cost of $28,909. <br /> <br />o Contracted services – 10.4% of expenditures, overall increase $66,615. <br /> Construction permits inspections budgeted at an increasing baseline activity results in <br />greater expense of $5,211. This increase has no impact on the levy as the inspection fee <br />is a percentage of permit revenue received. <br /> Assessor, Attorney, Auditor, Engineer and Planner services reflect rate and activity <br />increases. The net result of these factors is cost impact of $16,500 <br /> Contracted Information Technology costs up $18,905. <br /> Miscellaneous service contracts are estimated to increase by $25,999. This is driven by <br />police and fire increases in contracted costs, election contract increased due to the <br />work load associated with 2024 Presidential election, and remaining costs impacted by <br />inflation. <br /> <br />o Other Insurance costs – 5.3% of expenditures, overall costs up by $114,862. <br /> The workers’ compensation insurance experience rating declined by 24% in the 2023- <br />2024 renewal period. This was substantially due to a police officer PTSD claim. The cost <br />impact of the rating decline is approximately $77,940. <br /> The coverage rates improved slightly in the 23/24 policy renewal. However, the <br />increase in covered wages produced an additional coverage cost of $44,068. <br /> These factors equate to a 17.2% increase cost for 2024 which was comparable to the <br />prior renewal increase of 17.4%. <br /> The PTSD claim will continue to keep our insurance costs at a higher level for the next <br />two renewal cycles. <br /> Liability, Property and Casualty premiums are projected to decline by $7,145 in 2024. <br /> <br />o Pass through costs – 2.3% of expenditures, costs up $10,250. <br /> The substantial portion of the increase represents an $5,000 increase in the rent <br />transfer to the City Hall/Community Center Fund offset by various reductions in other <br />pass through items. <br />4