HomeMy WebLinkAboutCC WORKSESSION 07312007Council /Staff Work Session
July 31, 2007
Following Joint School Board Meeting
St. Anthony Council Chambers
1. Call to Order.
2. Key Financial Strategies Presentation.
Stacie Kvilvang, Ehlers & Associates, presenting.
3. 2008 Budget Presentation.
Mike Mornson, City Manager & Roger Larson, Finance Director.
4. Adjournment.
Key Financial
Management Plan
c
m
a
J
1�
1�
L
0
c
tO
u
CD
in
4
O
ol
0
T
Q,l
4L
C
B
c/
,y
4-j
O
all
O
E
E
M
W
4-J
>
00
4''
LO
C
c_
Ln
O
.+.J
m O
4- 4.j
=;
Tj
E
LLI
Q
®`n
�•0
C
CL
0
u
•rte
u
®
•
M
•
•p•
Q,l
4L
m
00 p
c
N
N
fu
Q)
.Q
c
QJ
J
•
O
4a
in
0 Ln
Ln M
rn
4-J
N M
� M
LJ
_c 3
u
c
a
m
co
C
U—
O
°o
as
fu
C1
•
A.
i
Fj
C
0
O
M
O
L
C
�
O
4-
Qt
O
0�
M
M
c
o
.0
r0
—�
�
E
C
O
>
O
O
(�
R
�
v
o
�
�
CL
4.j0
�o
o
�Ln
:3
O
•
O
4a
in
0 Ln
Ln M
rn
4-J
N M
� M
LJ
_c 3
u
c
a
m
co
C
U—
O
°o
as
fu
C1
•
A.
i
Fj
ma
fu .�
o
O V
O R3
� O >
O
4.+
_ � O
> -p
O V 4-
� � C
E
m >
V O
>% i CL
.4-'
V •�
L
C
.� O
> au
CD
mow
CU r c
u o
cl) Q
O
�► x
O
O �
O 4�
O
Ln
t
a
O N
�
U.
NI
N
a
.E
E
s
0
0
co
N
th
O
s
J
a+
C
d
d
O
IN
CL
O
19
�ll
CL
0
O
O
Ln
N
�E
>
Q) N
m
cu c'
L r
as
N �
of
ra 0
E`
o
A
LA
L •�
X
.0 W
W .=
0
N
an
C
m
in
.0
E^
N
� N
o�
Cl)
� L
PO 0
L w
/C rQ
V ^'
� L
�} U
3 ,c
.v c
a) u
U1 �
u 0
N L
.c
F- rdo
E]
N
N
O
O
O
on
LJ
J
Y.
•yin
c
0
r0
E
u
W
U
c
M
ticC
c
� o
a J
oQ
N =
L L
0 0
m
CL
m
U
L.
O
w
C'
o
o 3
L
o..°c
E4�
O
O
C v 4D
� 7w
E on
o4�
C
°T ^)
W C
C W
�. ^E'
W
u ">
0
L > o.
2.E
�
�+— L �
L .N a)
o MO E
0.
000 C.-
0
o 0 0 �E
0 w v
Ln 0 0
N M N
wi
0
76
Q
u
c
O N
O p
O r
00 Ln
c
3
.°4--
CN
}+
� C C
0
E
L L Q1
an o
w L
E(A
N
CE
_a
�a tF •�
c
N
L
DJ
.w C
-C C
CO
E
o ro
r�
cs
v :^
C�
� U
_ a�1
0
C
o4-J
U10
C
C L
a� o
ra
E .c
L C
� C
aw
L =
0 on
C
a aC,
0 O
O
O N
c ° + o�
..0 > N
c
c < O N
r O c
4- " 00
6,
o 0 Ln'
.0 ,c OV).
o C) L .a
CL C) aO >,
'a u 'C a
cr
y
Q O o W
ra O c o
C m ro
u
o
U
u L
U
■� .0 + O i R7
N c c c�
.m U uN 4- U
X 4— N Ow±' O O�c
W N -pj O >'-O>
� -v tZ o y o Q o a
O ern L
0 N tMi� 0
. Q1 4" O C: 0 rC
-v Rs a
c 4-- U
0
O` �
0% O 'O
4-J c
4_
co a�
o
c o
oe
oe .c
IA
4
wo 4-J 0
` / °�
M
O4— •0
' O O L-
C) u 4J a
c 0 c
c"_: f V r0 (U
p c
Gs>+ o'O �>
>_�_ kp a�
„ O O 4-J O
'O O T, a06 3—: 0.
OUa� nog c E
o
.p O
to
O Q� +, c
M 4.Ar N_ 0 Q)
o .N ° E
N
LM O cr
• (4 N N 0
M
O
U
s
H
N
13
u
4
O
3
N
CL
c�
V
O
u
>
N
c
0
E
as
0
E
c
CL
cr
W
7
•
O
0
O
O
O
0
�
• O
O
O
•
cVC_f'
�
r
•
O
O
O
O
O
O
O
O
0
oUnM;r
• O
"t
�
N
N
LO
M
Lo
69-
69
69
6F}
ON
cu
N
cu
C,3
C)
2 O
J
J
J~
•
0
CD
H
N
O
O
O
co
:0
o
O
O
O
O
r-
N
7
N
c
w
E
0
Ln
Ln
Ln
O
CL
N ,Q Ln
O
C
Q w
m E
N �
i c
= Q a
LAM
�
0 9
N
.Q
�
O
R'3
O
O
c
O
Ln
tfi
4-d
�
:
C
3
E
®
E
-®
�
•^
�J
Qy
>
p
0
• • J
4-1
�
C
®
V!
T
•$.;
E
C
O
C
L
L
LA
v
ru
L
a
-
.o
n.
w
a
0 9
N
c
O
Im
�N
D
d
J
4)
o r.
.0
4-
s^
L
oTj
V
.L
•r.
0
U.
p
F
0
.�
u
3
T:
o
v
o
L
4H
-C
>
a,
c
fa
-o
a
�v
o
�
a
>
`o 4"
O
�
CA
0
C)
-p
O
cv
u
�- o
O
u
00
u
C
E
r�
�®
•�4-J
.^
o
��a,
�u
EL
u
c
X
v
aui
0
+,
-p
c
on
0�'v
>
•L
.�.�
>
V
�+
�
�
s
0
■
■
N
C
O
N
41
3
�j
Presentation Materials
2008 Operating Budget
Proposed General Fund Budget & Levy
MEMORANDUM
DATE: July 18, 2007
TO: City Council
FROM: Mike Morrison, City Manager
Roger Larson, Finance Director
ITEM: PROPOSED 2008 GENERAL OPERATING BUDGET
City staff has submitted their budget requests for 2008. For your consideration and
review, staff compiled the attached booklet includes the 2007 General Operating Budget,
the Capital Equipment Budget.
The following is a summation of the 2008 budget statistics that does not include any
adjustments or changes to the levy based on Key Financial Planning:
Issues that impact the 2008 budget:
• Cost of living adjustment for city staff (negotiate - 3 union contracts).
• Rising cost of health insurance premiums.
• Increase in motor fuel costs; will affect all Departments.
• Maintenance and repair costs continue to rise.
• Police
• Add additional $30,000 to overtime budget.
• Phase -in the hiring of a full -time officer 2009.
• Utility costs for city buildings continue to rise.
• Capital Equipment needs (budgeted at $450,000)
Other adjustments to operating budget:
• Reclassification — Police, Fire and Public Works.
o Motor Fuels.
o Maintenance and repair costs.
24 hour Lauderdale Contract.
Based on the Key Financial Management Plan discussion earlier in the evening, the
Council has several other levy options available to them on the 2008 levy,
Proposed
1) General Operating Budget
$4,998,500 4.75%
2) General Fund Levy
$2,796,900
3) General Levy Increase
$ 136,100 5.12%
4) Road Improvement Levy
$1,022,136
5) Road Levy Increase
$ 136,302 15.39%
Issues that impact the 2008 budget:
• Cost of living adjustment for city staff (negotiate - 3 union contracts).
• Rising cost of health insurance premiums.
• Increase in motor fuel costs; will affect all Departments.
• Maintenance and repair costs continue to rise.
• Police
• Add additional $30,000 to overtime budget.
• Phase -in the hiring of a full -time officer 2009.
• Utility costs for city buildings continue to rise.
• Capital Equipment needs (budgeted at $450,000)
Other adjustments to operating budget:
• Reclassification — Police, Fire and Public Works.
o Motor Fuels.
o Maintenance and repair costs.
24 hour Lauderdale Contract.
Based on the Key Financial Management Plan discussion earlier in the evening, the
Council has several other levy options available to them on the 2008 levy,
GENERAL FUND
The General Fund accounts for
resources devoted to financing
general services. These include
General Government, Police, Fire,
Public Works and Parks. It is the
largest budget and is the main
operating fund of the City
2007
2008
Dollar
Percentage
Budget
Budget
Increase
Increase
$4,771,900
$4,998,600
$226,700
4.75
2007
2008
Dollar
Percentage
Levy
Levy
Increase
Increase
$2,660,800
$2,796,900
$136,100
5.12
07/01/07
IMPORTANT DATES
St. Anthony Budget Schedule for 2008 Budget
January 11 & 12 2007• Goal Setting, Financial Management and Planning.
April 24, 2007: Public Hearing /Provide Residents with an Opportunity to have
Input in the process.
May 8 2007: Work Session — Staff & Council to review Capital Equipment.
May - July: City Manager & Staff Meetings to discuss /draft 2008 Budget.
July 31 2007: Work Session to Review Key Financial Management Plan
and Proposed 2008 Operating Budget and Tax Levy.
August 14, 2007: Council Meeting /Ehlers Presentation of Key Financial
Management Plan.
1) Resolution approving the Pay -Off of Road Improvement
Bonds 1997A, 1999A and 2003D.
September 11 2007: Presentation of Proposed Budget/Property Tax Levy
1) Resolution passed setting Proposed 2008
Budget and Tax Levy.
2) Resolution passed setting Public Hearing
and reconvening dates.
November 29, 2007 "
December 20, 2007: Dates established to hold a Truth -in- Taxation /Public Hearing.
December 3 2007: Truth -in- Taxation, Public Hearing. Presentation of 2008
Operating Budget and Tax Levy.
December 17 2007: Approval and Final Adoption of 2008 Operating Budget and
(Subject to Change) Tax Levy.
If the City doesn't need a Truth -in- Taxation hearing there is no requirement to change the
council meeting dates. The 2008 Operating Budget and Levy would then be adopted on
December 11, 2007.
"Please note: The public hearing must be held between November 29th and
December 20th. The first Monday in December is reserved for City Governments. If an
alternate date is selected, the initial cannot be held on the same day as Hennepin or
Ramsey Counties Initial Hearing Dates, I.S.D. #282 Initial Hearing Date or Metro Special
Taxing Districts Initial Hearing Date.
GENERALFUND
REVENUES
Property Tax - Levy
Penalties, Interest, Tax Forfeitures
PERA Levy (Rate Increase)
Licenses
Permits
Dare /School District #282 Levy
Fire Relief Association - 2% Insurance /Pension
Intergovernmental Revenue
Contract Revenue (Lauderdale /Falcon Heights
Charges for Service (Fines)
Miscellaneous Revenues
Transfers & Miscellaneous Revenues
GENERAL FUND TOTAL REVENUES
EXPENDITURES
Mayor / City Council
Public /Intergovernmental Relations
Cable Franchise
General Management
Elections
Finance, Insurance / Accounting
Finance, Assessing
Legal
Engineering, Planning / Zoning
City Building
Civil Defense /Emergency Management
Police Protection
Lauderdale /Falcon Heights Contracts
Dare Education
Fire Protection
Fire Relief Association - 2% Insurance /Pension
Inspections, Building /Plumbing /Heating /Health
Animal Control
Public Works
Public Works, Maintenance /Repair Equipment
Tree and Weed Care
Parks
Community Services - Grandfather Levy
GENERAL FUND TOTAL EXPENDITURES
2007
2008
BUDGET
BUDGET
5.12%
$136,100 Increase in General Fund Levy $2,660,800
$2,796,900
5.12%
$3,000
$3,000
0.00%
$7,500
$7,500
0.00%
$43,850
$42,100
-3.99%
$150,800
$165,400
9.68%
$14,500
$14,500
0.00%
$50,000
$52,500
5.00%
$225,100
$220,100
-2.22%
24 Hour Service /Lauderdale $1,039,000
$1,096,200
5.51%
$92,500
$98,500
6.49%
$144,350
$149,400
3.50%
$340,500
$352,500
3.52%
$69,800 Added For Maintainance /Fuel
$24,500 Added For Maintainance/ Fuel
$94,300 Moved To Police & Fire
$4,771,900 4 998 600 4.75%
2007
2008
BUDGET
BUDGET
5.12%
$58,200
$61,300
5.33%
$25,100
$26,400
5.18%
$25,600
$26,900
5.08%
$92,600
$97,500
5.29%
$30,900
$32,500
5.18%
$258,400
$271,500
5.07%
$47,500
$49,900
5.05%
$96,300
$101,200
5.09%
$3,100
$3,300
6.45%
$161,800
$174,600
7.91%
$52,100
$54,900
5.37%
$1,288,300
$1,427,300
10.79%
$919,600
$942,600
2.50%
$14,500
$14,500
0.00%
$668,200
$728,500
9.02%
$50,000
$52,500
5.00%
$86,700
$91,100
5.07%
$4,400
$4,600
4.55%
$480,000
$504,500
5.10%
$152,700
$66,600
- 56.39%
$34,200
$36,000
5.26%
$169,500
$178,200
5.13%
$52,200
$52,200
0.00%
$4,771,900
4 998 600
4.75%
Increase
General Fund Levy
$136,100
5.12%
Road Levy
$136,303
15.39%
Certificate - Fire Truck
($91,500)
- 100.00%
Lease Revenue Bonds
$525
0.13%
Tax Abatement - Central Park
iEffi
-2.69%
$180,662
4.38%
CAPITAL EQUIPMENT - 2008 Budget
Capital Equipment Revenues:
Appropriation from Reserves
Liquor Operations Profits ................................................. ............................... .......................$200,000
MSARevolving Funds ..................................................... ............................... .......................$150,000
Water Filtration Interest Earnings ..................................... ............................... ........................$50,000
Fund Balance /Sweeper Funds Reallocated ............................................ ............................... $50,000
Total Revenues .............. ............................... ....................... $450,000
Capital Equipment Expenditures:
Police:
Two Squad Cars .......................... ...............................
Tear Down & Build New Squads... ........................... _
Equipment Replacement/Squad Cars .......................
CrimeNet/State Computers Upgrades .......................
PoliceBikes ................................ ...............................
Record Management System Upgrade .....................
MP5's - Firearms ........................ ...............................
Radar Replacement .................... ...............................
CSO- Vehicle ............................. ...............................
Defibrillator ___...._.
Fire:
................. ............................... $50,000
................. ..............................$ 5,000
................... ..............................$ 5,500
................... .................I............$ 8,000
.................. ..............................$ 3,000
............I ........... ........................ $10.000
................. ..............................$ 5,000
.................. ..............................$ 4,000
......... ............................... $30,000
................................................................... .........................I..... 0,v00
TotalPolice ..................... ............................... .......................$123,500
TurnoutGear .................................................................................
..............................$ 7,500
Pagers... ............................. ........................................................
................... .. ... . $ 1,600
HoseReplacement ........................................................................
..............................$ 1,500
Computers/ Printers .......................................................................
..............................$ 1,500
AudioVisual Equipment ................................................................
..............................$ 2,500
Fans / Blowers .................................................................................
..............................$ 1,500
GasMonitor ...................................................................................
..............................$ 2,000
Copier...........................................................................................
............................... $12,00 0
TotalFire .............. ...............................
........................$30,100
Public Works - Equipment:
2 — Ton Plow Truck ...................................................................
............................... $ 37,000
EmergencyGenerator ...............................................................
............................... $ 20,000
High Ranger & Chipper Box ................................ ...............................
.......................$135,000
Locator& Water Testing Equipment ...........................................
..............................$ 4,000
UpdateWell Pump & Controls .....................................................
..............................$ 23,200
Park Playground Equipment ........................................................
..............................$ 20,000
Refurbish Ball Fields / Maintenance ..............................................
............................... 5,000
Total Public Works ............................
.......................$244,200
Finance /Administration:
Replacement of Personal Computers ( 3) ........................................ ............................... $ 5,000
HIP Laser Jet Color Printers ........................................................... ............................... $ 3,500
P/C Software Upgrades ................................................................... ..............................$ 3,500
Cisco Ethernet Switch/Transceiver Upgrades ................................. ..............................$ 6,700
File Server& Software Upgrades .................................................... ..............................$ 8,500
City Council & A/V Improvements .................................................. ............................... $25,00 0
Total Finance /Administration ............ ........................$52,200
Total Expenditures .......... ............................... .......................$450,000
A
m
m
N
O
N
No c g > 0 m
CL o� m oN ° v '
Qr = o m
0 rD m nn m
d N ° J _
O m O N CD
3 0 N 2 5 596
O N N C
m W m N c m
CD c n n
n,Z 3 p
p .0 m N
CO
O N x p N
m N W N
m
=m,
S
J N
av X
N_m0)
3 j.
3 =
Dmi
Pi °
A A fD
is Pi CD
O A W c
W
OD �(D
Vw 3
tA0 0 0 CD
v--I S r 0 m m
r
R1X °c 03 m O o
> > CD fD
<
.Z1 a) ;o
O
ID m
`°3o (Do0w
n
M
;�cDm 3M
O
o
ofDimmm0m
m� m am CY
r-
a
m
C) m
-1
m
7 N N
ma
O
N , T
O ry
M.
N
O
O
v
A N
AV V(cnliA N10O
(n V Ut V7 0
W I O O' V 0 0 0
-40 O O O Co, V O
V O O O O O V O
o �cc D 0 10O NCD w w
O0)O (T ONO
m
0000 w O O
O O O 0 0 m =
0
i
A O N O O O CT 01
W O Q 1 O� O W
OD 00 0 W 0IDN
0 0 0 0 0 0 0 0
N
A "
CD
N Pi (A cWD tD 000 CD
O
W V 0 OI W (r O O
0 m O m OD co O
mV
OD
0
w 0 0 D O W O V
C. O O N O W O
O O O O V O
O O O O O O D O
A N
AV V(cnliA N10O
(n V Ut V7 0
W I O O' V 0 0 0
-40 O O O Co, V O
V O O O O O V O
o �cc D 0 10O NCD w w
O0)O (T ONO
m
0000 w O O
O O O 0 0 m =
0
i
A O N O O O CT 01
W O Q 1 O� O W
OD 00 0 W 0IDN
0 0 0 0 0 0 0 0
Levy Option's based on
Key Financial Management Plan
Option #1
Maintain Current Fund Balance Policy 30% — 35%
Based on Proposed 2008 Operating Budget
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Option #2
Increase Fund Balance to 35%
Adds: $147,000 to General Fund Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Option #3
Increase
2007
2008
Decrease
2,660,800.00
2,796,900.00
136,100.00
5.12%
885,833.78
1,022,136.77
136,302.99
15.39%
91,500.00
0.00
(91,500.00)
- 100.00%
393,892.00
394,417.00
525.00
0.13%
55,500.00
55,500.00
0.00
0.00%
28,506.00
27,740.00
(766.00)
-2.69%
7.500.00
7,500.00
0.00
0.00%
4,123,531.78
4,304,193.77
180,661.99
4.38%
Increase Fund Balance to 35%
Adds: $147,000 to General Fund Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Option #3
Maintain Current Fund Balance Policy 30% — 35%
Add: $25,000 to General Fund Levy for Salo Park
Less: $125,000 from Road Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Increase
2007
2008
(Decrease)
2,660,800.00
2,943,900.00
283,100.00
10.64%
885, 833.78
1,022,136.77
136, 302.99
15.39%
91,500.00
0.00
(91,500.00)
- 100.00%
393,892.00
394,417.00
525.00
0.13%
55,500.00
55,500.00
0.00
0.00%
28,506.00
27,740.00
(766.00)
-2.69%
7.500.00
7.500.00
0.00
0.00%
4,123,531.78
4,451,193.77
327,661.99
7.95%
Maintain Current Fund Balance Policy 30% — 35%
Add: $25,000 to General Fund Levy for Salo Park
Less: $125,000 from Road Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Increase
2007
2008
(Decrease)
2,660,800.00
2,821,900.00
161,100.00
6.05%
885,833.78
897,136.77
11,302.99
1.28%
91,500.00
0.00
(91,500.00)
- 100.00%
393,892.00
394,417.00
525.00
0.13%
55,500.00
55,500.00
0.00
0.00%
28,506.00
27,740.00
(766.00)
- 2.69%
7.500.00
7,500.00
0.00
0.00%
4,123,531.78
4,204,193.77
80,661.99
1.96%
Option #4
Increase Fund Balance to 35%
Add: $147,000 to General Fund Levy
Add: $25,000 to General Fund Levy for Salo Park
Less: $125,000 from Road Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Option #5
Maintain Current Fund Balance Policy 30% - 35%
Add: $25,000 to General Fund Levy for Salo Park
Add: $30,000 to HRA Levy
Less: $125,000 from Road Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Option #6
Increase
2007
2008
(Decrease)
2,660,800.00
2,968,900.00
308,100.00
11.58%
885,833.78
897,136.77
11,302.99
1.28%
91,500.00
0.00
(91,500.00)
- 100.00%
393,892.00
394,417.00
525.00
0.13%
55,500.00
55,500.00
0.00
0.00%
28,506.00
27,740.00
(766.00)
-2.69%
7.500.00
7.500.00
0.00
0.00%
4,123,531.78
4,351,193.77
227,661.99
5.52%
Maintain Current Fund Balance Policy 30% - 35%
Add: $25,000 to General Fund Levy for Salo Park
Add: $30,000 to HRA Levy
Less: $125,000 from Road Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Option #6
Increase Fund Balance to 35%
Add: $147,000 to General Fund Levy
Add: $25,000 to General Fund Levy for Salo Park
Add: $30,000 to HRA Levy
Less: $125,000 from Road Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Increase
2007
2008
(Decrease)
2,660,800.00
2,821,900.00
161,100.00
6.05%
885,833.78
897,136.77
11,302.99
1.28%
91,500.00
0.00
(91,500.00)
- 100.00%
393,892.00
394,417.00
525.00
0.13%
55,500.00
85,500.00
30,000.00
54.05%
28,506.00
27,740.00
(766.00)
-2.69%
7.500.00
7.500.00
0.00
0.00%
4,123,531.78
4,234,193.77
110,661.99
2.68%
Increase Fund Balance to 35%
Add: $147,000 to General Fund Levy
Add: $25,000 to General Fund Levy for Salo Park
Add: $30,000 to HRA Levy
Less: $125,000 from Road Levy
General Fund Levy
Road Improvement Levy
Certificate of Indebtedness
Lease Revenue Bonds P/W - Fire
HRA Levy
Tax Abatement Levy — Central Park
PERA Rate Increase
Truth in Taxation — Limit for Conducting a Hearing = $4,242,359.15
(Last Years Levy, Less HRA Levy = $4,068,031.78 X 1.042853)
HRA Maximum Levy = $120,635
Increase
2007
2008
(Decrease)
2,660,800.00
2,968,900.00
308,100.00
11.58%
885,833.78
897,136.77
11,302.99
1.28%
91,500.00
0.00
(91,500.00)
- 100.00%
393,892.00
394,417.00
525.00
0.13%
55,500.00
85,500.00
30,000.00
54.05%
28,506.00
27,740.00
(766.00)
-2.69%
7.500.00
7.500.00
0.00
0.00%
4,123,531.78
4,381,193.77
257,661.99
6.25%
Truth in Taxation — Limit for Conducting a Hearing = $4,242,359.15
(Last Years Levy, Less HRA Levy = $4,068,031.78 X 1.042853)
HRA Maximum Levy = $120,635