Agenda - Council - 09/27/2016 - Laserfiche WebLink

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OW t hi lon: To work together ko respotibiy grow oar community, and to provide quality, cost -affective, and efckent government tet ricer. CC Regular Session 7. 1. Meeting Date: 09/27/2016 By: Diana Lund, Finance Information Title: Adopt Resolution #16-09-168 Adopting Proposed 2017 Payable Tax Levies (General, EDA & Debt Service) and Schedule Public Meeting for December 13, 2016 Purpose/Background: Purpose: Each taxing authority must certify its proposed preliminary property tax levies for payable 2017 to the County Auditor by September 30, 2016. Background: The levy as presented reflects the recommendation of the majority of the City Council at the final preliminary budget/levy work session on September 13, 2016. Proposed 2017 Payable Tax Levy: Proposed Tax Levies: General Fund Levy: $ 8,670,635 EDA Levy (Included in General Levy) 103,981 (EDA presented 8-4-16) Debt Service Levy — CIP Bond -(Fire Station #2) (Being Requested) 157,463 Debt Service Levy — CIP Bond(Municipal Center) (Being Requested) 1,098,813 Debt Service Levy - 2013 Equipment Certificate 73,875 Debt Service Levy - 2014 Equipment Certificates 102,905 Reconstruction Debt - Andrie & Overlays (Being Requested) 152,308 Reconstruction Debt - Garnet Street & Overlays (Being Requested) 119,078 TOTAL PROPOSED LEVY — 2017 $10,479,058 The attached resolution, as it is presented, reflects a levy of $10,479,058. The proposed levy for 2017 reflects a $507,983 (5.09% increase) over the adopted levy in 2016 of $9,971,075. The levy increase of $507,983 is mostly attributed to four areas: 1. Personnel Funding - $278,778 increase over 2016 adopted budget. The increase is attributed to a cost of living (COLA) adjustment for approximately 75 employees; step increases; increase in hours for one position, reclassification of two positions and and three new positions: Full-time Drug Task Force Officer, Part-time Administrative Assistant and Part -Time Building Maintenance Worker 2. Debt Service Levy - Additional $94,706 of debt from 2016 to 2017 payable levy. The additional levy is attributed to funding the Andrie Street & Overlay projects. 3. EDA Levy - Increased levy of $30,363 from 2016 to 2017 to allow for flexibility and improvements tot he city's economic development strategies.