Agenda - Council - 12/09/1997 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I CAS # II REVIEW AND ADOPT 1998 TAX LEVY AND GENERAL FUND BUDGET By: Jessie L. Hart, Finance Officer Background: The 1998 Truth-in-Taxation Public Hearing was held on Wednesday, December 3, 1997, at 7:00 p.m. in the Council chambers. The information distributed at the hearing included information regarding the tax capacity rate and tax dollar utilizing the certified maximum proposed tax levy that was certified in September, 1997. The 1998 Proposed General Fund Budget, as it has been presented and reviewed in the past several months, is based on the collection of tax dollars at the level certified by the state under the newly imposed levy limits and results in an estimated 21.373 tax capacity rate. This budget was balanced through staff recommended adjustments and resulted in a totaI contingency in tho amount of $76,511. Included is funding for salary adjustments [$45,482], training [$5,000], capitalized interest on non-certifiable assessments [$7,226] and an unallocated line item [$18,803]. The budget also includes an increase in the staffing complement by one full-time patrol officer, one full-time community development assistant, one full-time fire chief/public works director and one part-time public safety aid. It also includes enhancements to part-time/temporary positions and conWacted services. Other than those improvements, staffing remains unchanged for 1998. The budget as presented includes $278,165 of capital outlay items of which $138,421 is funded by the Equipment Revolving Fund and the proceeds from the sale of the D.A.R.E. house project and Sanifill D.A.R,E. benefit golf tournement. The balance of $138,744 is .funded through the property tax levy and general fund revenues. In total, Public Safety [police, fire, inspections, civil defense] is now 36.43% of the budget. General Government [administration, finance, elections, planning and legal] is 24.21% of the budget. Public Works and Parks represent 18.17% and miscellaneous and transfers make-up the balance. This budget assumes that the PIR Fund will be providing for the street maintenance sealcoating program for 1998, in the same manner as had been provided in 1997. If a change in funding does ultimately occur during 1998, the necessary changes do not have a General Fund budgetary impact. State Statutes require that the 1998 Levy and General Fund Budgets must be adopted at a meeting separate frOm the public hearing and before December 30, 1997. Therefore, the 1998 Proposed Levy and General Fund Budget are presented for adoption at tonights Council meeting. /67