Agenda - Council - 09/26/2017 - Laserfiche WebLink

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lour Misiion: To work together to reiposibty grow our community, and to provide quality, coat -effective, and efficient government ierrlcas. CC Regular Session 7. 1. Meeting Date: 09/26/2017 By: Diana Lund, Finance Information Title: Adopt Resolution #17-09-235 Adopting Proposed 2018 Payable Tax Levies (General, EDA & Debt Service) and Schedule Public Hearing for December 12, 2017 Purpose/Background: Purpose: Each taxing authority must certify its proposed preliminary property tax levies for payable 2018 to the County Auditor by September 29, 2017. 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 12, 2017. Proposed 2018 Payable Tax Levy: Proposed Tax Levies: General Fund Levy: $ 9,395,242 EDA Levy (Included in General Levy) 103,981 (EDA presented 8-4-16) Debt Service Levy — CIP Bond -(Fire Station #2) (Being Requested) 224,248 Debt Service Levy — CIP Bond(Municipal Center) (Being Requested) 1,118,663 Debt Service Levy - 2013 Equipment Certificate 73,119 Debt Service Levy - 2014 Equipment Certificates 101,879 Reconstruction Debt - Andrie & Overlays (Being Requested) 146,571 Reconstruction Debt - Sunwood Drive & Alpine 94,079 Reconstruction Debt - Garnet Street & Overlays (Being Requested) 116,613 TOTAL PROPOSED LEVY — 2017 $11,374,395 The attached resolution, as it is presented, reflects a levy of $11,374,395. The proposed levy for 2018 reflects a $895,337 (8.54% increase) over the adopted levy in 2017 of $10,479,058. The levy increase of $895,337 is mostly attributed to four areas: 1. Personnel Funding - $479,348 increase over 2017 adopted budget. The increase is attributed to a cost of living (COLA) adjustment for approximately 75 employees; step increases; health insurance increases; single dental for all full-time employees; election year; increase in hours for IT Technician from 29 hours to 40 hours/week, and three new positions: Full-time Senior Planner, Full-time Parks Maintenance Worker & Part -Time Engineering Administrative Assistant. 2. Debt Service Levy - Additional $170,730 of debt from 2017 to 2018 payable levy. The additional levy is attributed to funding the Sunwood Drive and Alpine Drive Reconstruction and increase in Fire Station #2