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One Time Funding or Short -time Funding Options included in 2012 Budget /Levy <br />Budget /Levy Item Funded: <br />Municipal Center Debt <br />Street Maintenance Program <br />Environmental Coordinator Position <br />Total One- time /Short-Term Funding $ 1,184,864 <br />Levy Reduction Summary: <br />General Levy Reduction <br />Debt Levy Reduction <br />$ 603,000 Reduced Debt Service Levy <br />Funding Source: Funds retained in PIR fund from <br />2010 Fund Balance Policy Change <br />$ 275,000 Reduced General Fund Levy <br />Funding Source: TIF 4 (Up from $250,000 in 2011) <br />$ 219,500 Reduced General Fund Levy <br />Funding Source: PIR Fund <br />$ 87,364 Reduced General Fund Levy <br />Funding Source: Landfill Tipping Fee Fund <br />$ 581,864 <br />$ 603,000 <br />$ 1,184,864 <br />NOTE: Total 2012 Proposed Levy for General Fund & Debt was $8,275,630 <br />Net Effect on Budget /Levy: <br />Future Funding: <br />2013: No Debt on Capital Equipment Certificates. Reduces debt by $185,193 <br />City Will need additional one -time funding of $417,807 to cover the $603,000 <br />Internal borrowing or one -time transfer from undesignated fund (e.g. Landfill Trust Fd) <br />2014: TIF 2 & TIF 10 are decertified: Will add back approx. $605,000 to City taxes <br />TIF 4 decertifies in 2014. Will be last year of funding <br />2012 Year -end estimated balance of PIR Fund: $722,000 <br />Fund will be depleted in 2015 at 2012 rate of withdraw) <br />2012 Balance of Landfill Tipping Fee: $156,636 <br />Fund will be depleted in approximately 1.79 years based on 2012 rate of withdraw) <br />