Agenda - Council - 12/10/1996 - Laserfiche WebLink

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I ! FC CASE REVIEW AND ADOPT 1997 TAX LEVY AND GENERAL FUND BUDGET By: Jessie L. Hart, Finance Officer Background: The 1997 Truth-in-Taxation Public Hearing was held on Wednesday, December 4, 1996, at 7:00 / p.m. in the Cottflcil chambers. The information distributed at the hearing included information / regarding the tax_ capacity rate and tax dollar levies assuming a no tax rate increase, which is// $44,014 less than the maximum that was certified in September, 1996. ~ The 1997 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 a reduced levy and results in a 20.367% tax cat~acity rate. This equates to a ZERO increase in the taxes of a parcel with no value increase. This budget was balanced through staff recommended adjustments and resulted in a total"'"'x contingency in the amount of $74,077. Included is funding for exempt salary adjustments) [$9,524], training [$I0,000], first year funding for the street paving program [$20,000], // capitalized interast on non-certifiable assessments [$7,226] and an unallocated line item/ [$27,327]. / The budget also includes an increase in the Police Department staffing complement by one patrol officer and provides for a second sergeant position as a pr~qmotional opportunity. Other than those improvemeats, staffing remains unchanged for 1997./gin t6tal, Public Safety [police, fire, inspections, civil d~efense] is now 34.38% of the budget. General Government [administration, finance, eleetions,~ planning and legal] is 28.80% of the budget. Public Works and Parks represent 24.06% ~ad miscellaneous and transfers make-up the balance. This budget assumes .that_th_e~P.!~ Fund wall be providing f0r~.the _s.treet maintenance_ ~sea_!.c_oa~'m_g~-~i~ total beginning in'-1'997.? If th,at_ Ch0xl_g~_fi~_~ing doe~n~f~l~yfgc ~3~m_~d~__u37~ g~.99~Tthe -ne~s~a~' ch~...ges do.,pot, hav~e a~Q~n¢3r~._t~a~d budgetary ~mpact. State Statutes require that the 1997 Levy and General Fund Budgets. must be adopted at a meeting separate ~frp_~gl_the~public~hearing-and-'defore December 30, 1996.) Therefore, the 1997 Pmpose'd Levy and tGeneral Fund Budget are presented for adoption at tonights Council meeting. Staff Recommendation: Staff recommends a.doption of the 1997 property tax levy and General Fund Budget as presented utilizing the reduced levy which results in a tax capacity rate of 20.367, which is the same as payable 1996.