6.4. SR 06-11-2012 - Laserfiche WebLink

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to see where the gap is currently. The chart below is a summary of the 2012 tax levy and the other levies that will need to be levied in 2013. The 20121evy and the 20131evy illustration for all the funds assuming no change in the total levy is shown below: __. _ _ __ 2012 2013 Difference .. _.. _. General Fund $ 9,142,170 $ 9,315,635 $ 173,465 __ _ __ __ Li b ra rY _ 63,100 63,100 ' - Surface Water Management 50,000 50,000 - Debt Service 592,041 630,997 38,956 '. __ aEconomic Development Tax Abatement 428,504 216,083 (212,421):. $ 10,275,815 '., $ 10,275,815 $ - • Tax abatements decrease due to United Health having a remaining balance of approximately $16K in 2013. • Surface Water Management levy could change based on upcoming storm water fee discussion. • Debt Service levies increase slightly for principal and interest payments on the special assessment bonds. Consumer Price Index ~CPI~ The CPI for the Midwest region is currently trending at about a 2.2% increase (as of April) for 2012. Change in Net Tax Capaeity Last year the Net Tax Capacity (NTC) for the City decreased 11.15%. The County Assessor estimates a decrease of 9% NTC for taxes payable 2013. This may change as more accurate estimates will be available later in the year before the final levy is adopted. For planning purposes I anticipate using the negative 9% as the starting point as we move forward with the budget process. Once the July tax settlement is received for TIF district 19 we will begin working with the county to decertify the district. Pav and Benefits Pay and benefits will be discussed at a future budget meeting. State Aid No local government aid (LGA) will be included in the 2013 budget. Transfer In Transfers are made each year to the General Fund from the Waste Water, Liquor, Garbage, EDA and HRA Funds to cover costs associated with providing services to those funds. We will review the transfers to ensure they cover services used. The exception is the Liquor Fund transfer, which is significantly higher to offset other operating expenditures. One item we will consider again this year is using more of the Capital Outlay Reserve as a transfer in to cover General Fund Capital Outlay. Levels of Service The preliminary budget will be drafted based on continuing the same level of service as in 2012. C:\Users\jjohnson\AppData\Local\Microsoft\windows\Temporary Internet Files\Content.0utlook\SFWAYSNS\Budget Staff Report 0G1112.docx