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51. <br />MEMORANDUM <br />DATE: December 10, 2013 <br />TO: Honorable Mayor and City Council <br />Mark Casey, City Manager <br />FROM: Shelly Rueckert, Finance Director <br />ITEM: GENERAL FUND BUDGET/LEVY <br />At the April 30"i, July 23`d, and August 5th work sessions, the City Council and Staff reviewed <br />the 2014 General Operating, Road Improvement and Capital Equipment Budgets. Additionally, <br />public meetings were held April 23`d, August 27d' and September 10°i for public input on the <br />budget process. <br />Based on this process with the Council, Staff has presented 2014 levies totaling $5,633,001. <br />This represents a $206,218 dollar or a 3.8% percent increase from 2013 levies. The parameters <br />for preparing the underlying budgets included: <br />1) Revenues are budgeted using current trends for variable revenue sources and <br />conservative estimates for stable revenue sources. Expenses are budgeted at amounts <br />that will maintain present level of City services. <br />2) Allocated 2014 Local Government Aid of $442,967 as follows: <br />• 37% Unmet capital needs and reducing cost allocations to utility funds <br />• 25.5% Property Tax Relief, negating the impact certain annual cost factors <br />• 24.5% Addressing severance obligations, risk management <br />• 10% Property Tax Relief, supplanting decreases in revenues and other aids <br />• 3% Slowing growth of Road Levy <br />3) Salaries and Health Insurance adjustments are included as follows: <br />• Union and Non -Union wages adjustments — 2% <br />• Health Insurance premiums increase — 13.3% <br />4) Road levy increase includes debt service requirements for: <br />• 2013 Road Project <br />• Prior Road debt restructuring <br />• 3% LGA mitigation factor <br />