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utility rate adjustment for 2015 which is consistent with prior year projections when we issued the sewer <br /> revenue bonds in 2014. Staff has also updated the long-range financial model for the Wastewater fund <br /> which is attached and incorporates the costs of the facility expansion. <br /> The only significant operating change in the personal services line item is the request for an additional <br /> seasonal jetting crew assistant to help with summer workload. The operating supplies line item decreases <br /> due to anticipated use of ferric chloride which will be needed for the new permit requirements. In <br /> addition,it is anticipated the amount of chemicals used in the lab will decrease due to using a professional <br /> service starting in 2015. Decrease in Other Services and Charges is related to the number of lift station / <br /> control panel replacements needed in 2015 is lower than 2014. <br /> Capital Outlay includes an anticipated draw schedule for the expansion. The jet truck and a pickup <br /> replacement were reviewed during fleet presentation. Per Council direction,the jet truck will be <br /> purchased in 2014 to avoid cost increases in 2015. <br /> Staff will review in detail the long-range financial plan for the Wastewater Fund. The projection was <br /> reviewed with S&P during our recent bond issue and they felt comfortable with our long-range plan. <br /> General Fund Update <br /> During our review of the levy change on August 18,2014,we had a preliminary levy change of 2.93%, <br /> since then, staff adjusted for fuel and a few minor updates bringing the levy change to 2.56 percent (prior <br /> to storm water change). <br /> A quick summary of the changes from 2014—2015 proposed General Fund expenditure budget prior to <br /> adjustments is below: <br /> 2014 Adopted Budget $12,870,500 <br /> COLA 2% or by union contract 147,105 <br /> Staff adjustments (personal sheet 152,650 <br /> Overlays (moved to pavement mgmt. fund) (40,000) <br /> Health Insurance/Pension changes era 123,300 <br /> Inflation/Exp. Adjustments <1% 67,395 <br /> 2015 Proposed Budget $13,320,950 <br /> Financial Impact <br /> N/A <br /> Attachments <br /> • Department Worksheets <br /> • General Fund summary <br /> • General Fund Revenues/Expenditure summary <br /> • Capital Outlay summary sheet (General Fund departments) <br /> • Personnel sheet summary <br /> • Tax levy breakout <br /> • Tax rate estimate <br /> • Tax impact trends <br /> N:\Public Bodies\Agenda Packets\09-08-2014\Final\x4.1 sr budgetmemo09O8.docx <br />