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2014 Preliminary Budgets as of 8- 26 -13- BUDGET HI -LITES <br />LEVY LIMIT: $7,482,518 (General Fund & EDA Fund)- $7,353,29(2013 <br />- Estimated tax capacity rate of 43.37% (44.29% in 2013). TIF 2 decertified in 2013. <br />- City can only increase regular General levy & EDA levy by $129,223 over 2013 adopted <br />- Debt Levy falls outside of limits: <br />Debt Levy Proposed for 2014: $1,240,828 ($644,918 -2013) <br />Debt increase attributed to: <br />1. 2013 $635,000 Capital Equipment Certificates - Annual levy Est of $75,135 <br />2. Refinanced Muni Debt in 2012 -Used savings from refinancing to reduce <br />2013 Levy on muni debt <br />GENERAL FUND: <br />Proposed Budget: $9,894,184 ($10,293,837) Decrease of $399,653 <br />Proposed Levy: $7,345,779 (Maximum Levy Limit) <br />Major Changes from 2013 Adopted Budget: <br />Revenue: <br />- Property tax: Proposed General Levy of $7,345,779 (Maximum Levy Limit) <br />- Building Permit Revenue $27,885 (Offset by In -House Bldg Inspector) <br />- LGA -2013 Legislative Session reinstated $91,376 (was $0 since 2003) <br />(Had to subtract in calculating levy limits) <br />- Special Police Services decreased by $25,000- County Systems Admin contract ended <br />- Engr Revenue decreased by $372,500 ($577,500- 2013/$205,000 -2014) <br />Attributed to decrease in road funding in General Fund Budget from <br />$1,327,500 to $500,000) <br />- Transfers in from other funds decrease of $260,272 — One time funding from the PIR <br />Fund in 2013 for road maintenance funding ($219,493 decrease) <br />