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<br /> <br /> <br /> <br />o Remaining budget line items – 12.1% of expenditures or $1,134,142, costs are up $67,030. <br /> <br /> <br /> Energy costs make up $17,979 of this increase. <br /> Then anticipated inflationary factors have been applied to many of the supplies, <br />printing, and repair and maintenance services pushing these costs up by $26,742. <br /> Budgeted costs for communications, community inclusion and sustainability initiatives <br />and other miscellaneous items are up $22,309 compared to 2023. <br /> <br /> <br />General Fund Revenues: <br /> <br />o Liquor transfer to the General Fund will be $275,000 same as 2023. <br />o 2024 State funded Local Government Aid reflects an increase of $64,472. <br />o Police contracted services has increased by $123,455, a 14.35% increase. <br />o Excess Tax Increment collections are projected to increase by $77,000 in 2024 <br /> <br />The HRA Budget and Levy is proposed at the same amount as 2023, 0% Levy increase. <br /> <br />Infrastructure Improvements / Debt Levies <br /> <br />During the past several budget cycles, there has been significant reconstruction of City streets, <br />sidewalks, storm water systems, Silver Lake Village, City buildings and park infrastructures. <br /> <br />The Debt Levy is the funding source for the annual payment of the bond principal and interest. The <br />2024 Debt Related Levies are proposed to increase by $0 over the 2023 combined levies. <br /> <br />The 2024 Street project includes the extensive mill and overlay plan for streets and alleys (see project <br />map p. 9). The transitioning of the debt levy to infrastructure levy began with 2024 Levy. The 2024 debt <br />levy certified is $1,926,734. This is a decrease of $560,447 compared to the 2023 debt levy. This <br />decrease in levy allows the City to increase its Infrastructure Levy by the same sum. The goal associated <br />with phasing from debt levy to infrastructure levy is to accommodate a modified pace of improvements <br />to reduce reliance on bond financing and transition to levy support for construction costs. The result is <br />a combined flat levy impact for the street improvement program for a fifth consecutive year. The <br />combined program phases have served to lower annual levy impact of street reconstruction by <br />$3,685,000 over the last 10 years. <br /> <br /> <br /> <br /> <br /> <br />5