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35 MEMORANDUM DATE: August 27, 2013 TO: City Council Mark Casey, City Manager FROM: Shelly Rueckert, Finance Director ITEM: GENERAL FUND BUDGET/LEVY At the April 30"i, May 7"', and August 6"' work sessions, the City Council and Staff reviewed the 2014 General Operating and Capital Equipment Budgets. Additionally, a public hearing was held April 23`1 for public input on the budget process. Based on discussions with the Council, Staff has prepared a proposed 2014 General Operating Budget. This represents a $206,218 dollar or a 3.8% percent increase from 2013. The parameters for preparing the budget included: 1) Revenues are budgeted using current trends for variable revenue sources and conservative estimates for stable revenue sources. Expenses are budgeted at amounts that will maintain present levels of City services. 2) Salaries adjustment at 2% COLA and Health Insurance premiums up 6.65%. 3) Road levy increase of 12.6% is comprised of 7.5% for debt service requirements for 2013 street project and 5. I % for the restructuring of prior debt. The 2014 General Operating Levy and CIP Levy are equal to the 2013 Levy. The remaining levies are increased by the debt service requirements. A review of the proposed 2014 total levy is as follows: The proposed 2014 Capital Equipment Budget totals $206,218. The CHP Fund is supported by a combination of liquor operating profits, MSA revolving funds, water filtration interest earnings, the trade/sale of existing equipment and CIP Levy. Amount Increase/(Decrease) General Operating Levy $3,123,343 $0 CIP Levy $ 50,000 $0 Road Improvement Levy $1,776,580 $199,396 Lease Revenue Bonds $ 378,462 ($ 735) HRA Levy $ 153,597 $ 3,012 'Fax Abatement $ 151,025 $ 4,545 $5,633,007 $206,218 The proposed 2014 Capital Equipment Budget totals $206,218. The CHP Fund is supported by a combination of liquor operating profits, MSA revolving funds, water filtration interest earnings, the trade/sale of existing equipment and CIP Levy.